BUSINESS AND MONEY
Using Census data, researchers untangle interplay between urban development patterns and socioeconomic outcomes
Urban sprawl is not just unsightly. It could also be impeding intergenerational mobility for low-income residents and reinforcing racial inequality, according to a series of recent studies led by a University of Utah geographer.
One analysis of tract-level Census data co-authored with a former economics graduate student in Utah’s College of Social & Behavioral Science found that people who grew up in high-sprawl neighborhoods have less earning potential than those who grew in denser neighborhoods.
“For adults, jobs are harder to access in more sprawling neighborhoods,” said Kelsey Carlston, now an assistant professor of economics at Gonzaga University. “If we can understand how kids’ interactions with their neighborhoods are related to their economic opportunity, we can come up with some targeted policies for how to help poor kids get out of poverty and improve their situation.”
Published in Economic Development Quarterly, this study and two related ones were led by Yehua Dennis Wei, a professor in the School of Environment, Society & Sustainability. The other two were co-authored with graduate student Ning Xiong.
Wei’s three new studies build on prior work led by U city and metropolitan planning professor Reid Ewing, whose research scrutinizes the adverse impacts of sprawl and identifies features of urban resilience.
Ewing and colleagues, including Wei, demonstrated how sprawl at the city level could lock families into cycles of poverty across generations.
The new research gets more granular, extending into the neighborhood level by analyzing demographic information on the 71,443 tracts covered by the U.S. Census. Such tracts have 8,000 or fewer residents, and census tract data enables social scientists to survey local differences in poverty rates, income levels, ethnic characteristics, education levels and other characteristics for sub-county…
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U.S. Department of Transportation Announces $1.89 Billion Loan to the Port Authority of New York and New Jersey for the Midtown Bus Terminal Reconstruction
The U.S. Department of Transportation’s (DOT’s) Build America Bureau (Bureau) today announced it provided a
California National Guard Mobilizes to Combat Devastating Wildfires as Federal Support Intensifies
Soldiers and airmen from California’s Army National Guard and Air National Guard spent the weekend
How Sequoia Group’s Technology is Easing Warehouse Pressures in a Demanding Marketplace
With global e-commerce sales projected to reach $6.09 trillion in 2024, warehouses are under unprecedented pressure to meet consumer expectations for rapid delivery. Sequoia Group addresses these challenges by leveraging advanced technologies to enhance supply chain and distribution efficiency from A to Z.
Employing artificial cloud-based solutions to…
The Crypto Gift Card Boom: Why ASII is a Stock to Watch
The future of payments is here, and it’s powered by cryptocurrency and digital gift cards. For investors looking to capitalize on the next big thing, Accredited Solutions, Inc. (OTC:ASII) is emerging as a breakout player in this high-growth market.
GlobeTopper: The New Subsidiary Driving Explosive Growth
Through its new subsidiary,…
USTDA Director Enoh T. Ebong to Strengthen Infrastructure Initiatives in Türkiye, Egypt, and Bulgaria With New Grant Agreements
U.S. Trade and Development Agency Director Enoh T. Ebong will travel to Türkiye, Egypt and Bulgaria from December 7-13 to meet local partners and sign new commitments to support infrastructure for civil nuclear energy, digital communications and cybersecurity, emergency preparedness and response, and methane emissions abatement.
“The wide range of…
S&P Global Market Intelligence Expects 2024 Election Outcomes and Multidimensional Risk Factors to Define Global Landscape Next Year
Protectionist measures, the continuation of unresolved conflicts and fragmented domestic coalitions are expected to result in economic uncertainty and the redefinition of international relationships and trade dynamics next year, according to a new S&P Global Market Intelligence report released today. In the report, Power Plays in 2025, S&P Global…
Shrinkflation – Understanding Its Persistence and What It Means for Consumers
Since the outbreak of the pandemic, many consumers have complained about another issue: the products they buy, ranging from paper products to drinks, are becoming smaller yet the prices do not change or even rise. This phenomenon can be explained by the changes that occurred in the supply chain…
S&P CoreLogic Case-Shiller Indices index records 3.6% annual gain in October 2024
S&P Dow Jones Indices (S&P DJI) released the October 2024 results for the S&P CoreLogic Case-Shiller Indices. The leading measure of U.S. home prices recorded a 3.6% annual gain in October 2024, a slight deceleration from the previous annual gains in 2024.
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 3.6% annual return for October, down from a 3.9% annual gain in the previous month. The 10-City Composite saw an annual increase of 4.8%, down from a 5.2% annual increase in the previous month. The 20-City Composite posted a year-over-year increase of 4.2%, dropping from a 4.6% increase in the previous month. New York again reported the highest annual gain among the 20 cities with a 7.3% increase in October, followed by Chicago and Las Vegas with annual increases of 6.2% and 5.9%, respectively. Tampa posted the smallest year-over-year growth with 0.4%.
The pre-seasonally adjusted U.S. National Index, 20-City Composite, and 10-City Composite upward trends continued to reverse in October, with a -0.2% drop for the national index, and the 20-City and 10-City Composites saw -0.2% and -0.1% returns for this month, respectively.
After seasonal adjustment, the U.S. National Index posted a…
As 2025 approaches, S&P Global Mobility forecasts 89.6 million new vehicle sales worldwide next year, reflecting cautious recovery growth. Automotive forecasts have been downgraded across the board, reflecting expected post-election US policy shifts
Global new light vehicle sales in 2025 are expected to rise 1.7% year-over-year, to 89.6 million units, according to a new forecast by S&P Global Mobility.
The global auto sector remains focused on managing production and inventory levels in response to regional demand patterns, which include slower growth in key markets, in some cases related to slower electric vehicle adoption rates.
The forecast outlook incorporates several factors, including improved supply, tariff impacts, still-high interest rates, affordability challenges, elevated new vehicle prices, uneven consumer confidence, energy price and supply concerns, risks in auto lending and the challenges of electrification. In the U.S., president-elect Donald Trump is expected to hit the ground running in 2025 with a range of policy priorities, including universal tariffs, deregulation, and wavering BEV support.
“2025 is shaping up to be ultra-challenging for the auto industry, as key regional demand factors limit demand potential and the new U.S. administration adds fresh uncertainty from day one,” said Colin Couchman, executive director of global light vehicle forecasting for S&P Global Mobility. ” A key concern is how “natural” EV demand fares as governments rethink policy support, especially incentives and subsidies, industrial policy, tariffs, and fast evolving OEM target setting.”
Global light vehicle sales…
New-Vehicle Sales Projected to Hold Steady at 16.0 Million SAAR in November Amid Improved Inventory and Consumer Confidence
New-vehicle sales for November are expected to maintain a steady seasonally adjusted annual rate (SAAR) of 16.0 million, consistent with the sales pace observed in October, according to the Cox Automotive forecast released today. This represents an increase from last November’s SAAR of 15.5 million.
However, the sales volume is…
Massachusetts Faces Significant Wealth and Resident Exodus as Cost of Living Soars, New Study Reveals
A Pioneer Institute study released on Tuesday shows that Massachusetts lost $10.6 billion in adjusted gross income (AGI) to net out-migration between 2020 and 2022, more in those three years alone than the $10 billion it lost from 2012 to 2019.
In all, the Commonwealth experienced a four-fold increase…
Andrew Sobko, BATCH, Spotlighted on New York Stock Exchange TV
New York Stock Exchange TV recently spotlighted the technology-enabled logistics brokerage firm BATCH Freight as part of its Taking Stock series. BATCH is an online freight marketplace that connects shippers with carriers to move cargo. Its proprietary platform offers shippers the tools to book, manage, and track…
California Home Affordability Gains Ground in Q3 2024 as Prices Stabilize and Interest Rates Shift
Slower home price growth and more favorable interest rates in third-quarter 2024 buoyed California’s housing affordability from both the previous quarter and a year ago, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said last Thursday.
Sixteen percent of the state’s homebuyers could afford to purchase a median-priced, existing single-family home in…
S&P Global Commodity Insights Launches Daily Platts Pork Price Assessments for EU Exports and North Asia Imports
Platts, part of S&P Global Commodity Insights, will enhance transparency in the global pork market with the launch of daily spot physical price assessments for pork in Europe and North Asia, effective November 1.
According to S&P Global Commodity Insights, global pork consumption has steadily grown to the current rate…
U.S. Consumer confidence pulled back in December
By Helen Roscha / Enterprise EditorThe Conference Board Consumer Confidence Index® declined by 8.1 points in December to 104.7 (1985=100). The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—fell 1.2 points to 140.2. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—tumbled 12.6 points to 81.1, just above the threshold of 80 that usually signals a recession ahead. The cutoff date for preliminary results was December 16, 2024.
“The recent rebound in consumer confidence was not sustained in December as the Index dropped back to the middle of the range that has prevailed over the past two years,” said Dana M. Peterson, Chief Economist at The Conference Board. “While weaker consumer assessments of the present situation and expectations contributed to the decline, the expectations component saw the sharpest drop. Consumer views of current labor market conditions continued to improve, consistent with recent jobs and unemployment data, but their assessment of business conditions weakened. Compared to last month, consumers in December were substantially less optimistic about future business conditions and incomes. Moreover, pessimism about future employment prospects returned after cautious optimism prevailed in October and November.”
Among age groups, December’s fall in confidence was led by consumers over 35 years old; consumers under 35 became more confident. Among income groups, the decline was concentrated in consumers with household earnings between $25K and $100K, while consumers at the bottom and top of the income range reported only limited changes in confidence. On a six-month moving average basis, consumers aged under 35 and those…
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Survey Reveals 72% of Americans Plan to Tackle Debt and Improve Financial Habits in 2025
Discretion and Detail: The Principles Behind Private Listings, by Harold Clarke
New Index Reveals Middle-Class Financial Resilience Shows Gradual Improvement Amid Ongoing Economic Challenges
The American Council of Life Insurers (ACLI) released a new index that measures middle-class households’ ability to manage financial challenges and plan for a stable future. ACLI’s Financial Resilience Index analyzes key middle-class economic considerations to assess the direction and degree of change in middle-class financial resilience. By…
CED Releases Solutions Brief on U.S. Infrastructure Investment: Highlights Need for Public-Private Collaboration and Long-Term Strategy
The Committee for Economic Development (CED), the public policy center of The Conference Board, has issued a new Solutions Brief, Strategic Investment in Infrastructure: Priorities for Implementation. It offers a three-year progress report on the $1.2 trillion Infrastructure Investment and Jobs Act, as well as the CHIPS and…
New York Employers Have the 4th Smallest Hiring Struggle in the U.S.
With the labor force participation rate at 62.7% and slightly above pre-pandemic levels, WalletHub released its report on 2024’s States Where Employers Are Struggling the Most in Hiring, as well as expert commentary.
In order to see where employers are having the most trouble hiring new workers, WalletHub compared the…
BadCredit.org, the ultimate resource for those with bad credit, finds a strong sense of financial optimism in consumers heading into the new year
In a new survey conducted by BadCredit.org, a leading financial resource helping those with subpar credit make informed decisions to brighten their financial future, 72% of consumers indicated they intend to pay off their debt partially or completely in 2025. The survey invited 500 adults in the United States to answer questions about how they plan to improve their finances in the New Year, in addition to trends surrounding spending, saving habits, and financial resolutions leading into 2025.
Survey Results Highlights:
The hope for better finances in 2025 wasn’t based on feeling, but on plans respondents shared they are putting into action. Key findings include:
- A Top Financial Resolution – Paying off Debt: 72% of those surveyed indicated they have a resolution to either completely or partially pay off their debt in 2025. One area prioritized by 49% of respondents is paying off credit card debt, and 46% plan to accomplish this by increasing their monthly payments. This move shows a sign of progress and recovery not just for the consumer, but for an economy with exceedingly high levels of credit card debt.
- Saying Goodbye to 2024 Finance Trends: It’s out with the old for a few personal financial trends, as…
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Discretion and Detail: The Principles Behind Private Listings, by Harold Clarke
New York Claims 44% More Unemployment Benefits Than National Average
A new study has revealed the states with the most unemployment benefits claims, with New Jersey taking the top spot.
AI productivity platform Plus, analyzed 2024 data from the United States Department of Labor on unemployment insurance claims in each state between 04/13/2024 and 04/20/2024. The total number of claims…
September’s Booming Job Gains Underscore US Economy’s Resilience
The US labor market proved resilient in September, adding 254,000 to payrolls for the highest gain since March. Leading into today’s release, June–August showed an average of 116,000 monthly payroll gains; revisions to July and August data now bring average gains over that period to 140,000, before September’s…
Ericsson and INFORM to Strengthen Financial Services Security and Combat Advanced Fraud
Ericsson and INFORM collaborate to integrate RiskShield, an advanced Anti-Money-Laundering and Fraud Management solution, with Ericsson’s Mobile Financial Services Platform. The collaboration strengthens Ericsson’s suite of tools to tackle sophisticated financial threats for banks, fintech, and communication service providers. This collaboration highlights Ericsson’s dedication to expanding its financial services…