Daily Update – 103
School Reopening Guidance Will be Available July 13, District Reopening Plans Due July 31st, Decision First Week in August
Governor Cuomo today announced that malls will be permitted to reopen on Friday, July 10th. However, in order to open, malls must be located in a region in Phase IV, have an HVAC filtration system with a MERv-11 rating or higher, and institute ventilation protocols to increase the amount of outdoor air being brought into the mall.
The Governor also announced that New York State will make the decision as to whether schools will reopen this fall during the first week of August. New York State is now consulting with stakeholders on guidance, which will be finalized on July 13. Plans to reopen schools are due on July 31. As part of the examinations, the State is considering air filtration systems similar to the new requirements on malls.
“We have been consulting all stakeholders on guidance for how a school would reopen in September. We have 700 school districts in this state, and they range from rural to urban to suburban areas. Localities are very involved in their schools and school decisions, so we have been meeting with them,” Governor Cuomo said.
All County Fairs will be cancelled by Executive Order.
Regional Economic Development Council’s Grant Program (The CFA Process) On Hold For Now
Due to the coronavirus, and all of the economic devastation it has wrought, sources say New York’s 10th annual Regional Economic Development Council competition — where the state invests $750 million in projects from Buffalo to Long island — is unlikely to take place in 2020.
Officials from Empire State Development, which oversees the program, say the competition is under review as the state examines budget shortfalls due to the pandemic. “The REDC’s bottom-up, locally driven process has helped revitalize regional economies across the state,” said Kristin Devoe, a spokeswoman for ESD. “However, the reality is, the State is contending with a 14% drop in revenue due entirely to the pandemic, and in the absence of federal funding to offset this loss, the state will have to reduce spending to balance the budget.” Devoe said the REDC program, like every state-funded program, is under review.
Read more in the Rockland Business Journal
Labor Department Provides Paid Leave Guidance
The Labor Department clarified that companies with fewer than 500 employees need to provide paid leave to employees in the event that a child’s summer camp is closed due to COVID-19. Per the Families First Coronavirus Response Act, eligible employees were entitled to up to 12 weeks of paid leave in the event that a child’s school was forced to close due to COVID-19, and the DOL announced that this would apply to summer camps as well.
The Labor Department’s Job Openings and Labor Turnover Survey Shows Americans Returning to Work in May
Openings totaled just shy of 5.4 million for the month, up from 5 million in April. Hirings surged to 6.5 million from the 4.05 million in April, and separations plunged nearly 60% to 4.14 million. The layoffs rate tumbled from 5.9% in April down to 1.4%.
These numbers help quantify the extent to which the jobs market repaired itself after an abrupt shutdown saw 11.5 million layoffs and discharges in March and nearly 10 million more in April due to social distancing and stay-at-home requirements brought on by the pandemic. Even with the jump in hiring, however, May ended with 21 million unemployed workers, or nearly four for every job opening.
NAM Chief Economist Chad Moutray Notes the Jobs Numbers for Manufacturing
There were 328,000 manufacturing job openings in May, up from 315,000 in April and improving for the second straight month after dropping to 310,000 postings in March, which was the slowest pace since October 2016. For comparison purposes, there were 482,000 postings one year ago. Manufacturers hired 426,000 workers in May, the most since April 2001 and increasing from 299,000 and 326,000 employees being hired in March and April, respectively.
NAM Reports that the Federal Reserve has Updates on Main Street Lending Program and PMCCF
The Federal Reserve Bank of Boston has announced that the Main Street Lending Program is now ready to purchase participations in loans that lenders submit to the program. Banks will make a lending decision based on the program’s terms and their own underwriting standards; after a loan is approved, the Fed will purchase a 95% participation from the lender. The Fed will soon publish a state-by-state listing of lenders accepting new business customers under the Main Street program.
Another Fed program, the Primary Market Corporate Credit Facility, is also now operational. The PMCCF will provide larger corporations with access to credit by purchasing corporate bonds. Your business could be eligible if you have an investment-grade credit rating and did not receive specific support via the CARES Act’s financing provisions for air carriers and national security businesses. You can learn more about the PMCCF here.
Learn about the Main Street Lending Program
OSHA Launches COVID-19 FAQ Webpage
The Occupational Safety and Health Administration has launched a new FAQ webpage for pressing COVID-19 issues. The New page features guidance on employer requirements, return to work, testing, face coverings, cleaning and disinfection.
You can view the FAQ page here
