Bloomberg Opinion Profile picture
Apr 13, 2021 14 tweets 8 min read Read on X
With more and more people getting vaccinated each day, America is rapidly ramping up its protection against Covid-19.

What might that mean for U.S. cities and metropolitan economies? trib.al/DpUVxiO
During the 1918 flu, cities with aggressive lockdowns recovered fastest. M.I.T. researchers found that shutting down public places led to a higher rebound in manufacturing employment:

🚫Taverns
🚫Restaurants
🚫Other public spaces for extended periods
trib.al/DpUVxiO
📈Researchers recently projected that demand for healthcare professionals in U.S. cities will increase post-pandemic.

📉But demand for service-industry workers — office support, customer service, food service, food processing and so forth — will decline trib.al/DpUVxiO
If they’re right, we could witness some dramatic economic restructuring over the next decade.

Cities such as New York, Boston and San Francisco that have strong foundations in technology, healthcare and education should return to health quickly brookings.edu/research/in-so…
Metro areas such as Las Vegas or Orlando — where growth in recent years has been driven more by tourism and hospitality — may struggle to keep pace trib.al/DpUVxiO
Brookings notes that the pandemic exposed our heavy reliance on…

🚑Healthcare workers
🛒Grocery clerks
🚴🏽Delivery personnel

More than 22 million U.S. workers in such jobs — nearly half of all low-wage workers — earned a median wage under $15 per hour trib.al/DpUVxiO
Clearly, Americans deeply undervalue many of the jobs and industries that are critical for our economy to function.

Whether or not we strengthen the economic power of this essential class may well define our nation’s economy for a generation trib.al/DpUVxiO
Which cities recover depends on how we choose to treat Americans struggling to enter the middle class.

If we stay on the same policy path, the trends that have long favored the tech-focused knowledge economy will continue to prevail after the pandemic trib.al/DpUVxiO
A tech-focused knowledge economy will almost certainly add to the widening economic inequality we’ve seen since the 1980s, with advances in automation — some pioneered under the pressure of Covid-19 lockdowns — eliminating even more service-sector jobs trib.al/DpUVxiO
Many Sun Belt metros have created middle-class jobs in the energy, hospitality and food-service industries over the last 40 years.

They may begin to confront some of the same challenges that have ravaged the Rust Belt trib.al/DpUVxiO
The point isn’t to save all those service-sector jobs threatened by automation.

It’s to raise workers already performing essential tasks into the middle class, by paying them wages commensurate to their value to the economy trib.al/DpUVxiO
The middle class we wish to have in America — and the one we need to maintain the vibrancy of U.S. cities — is already here.

It’s just not recognized as such by the nation’s business leaders and policymakers trib.al/DpUVxiO
Workers in hospitality, customer service and food service, healthcare, and other vital industries require much more than our gratitude.

They need bold policy actions to raise incomes and increase job security trib.al/DpUVxiO
Biden’s $1.9 trillion American Rescue Plan pushes middle-class security in the right direction.

It’s a bold gambit to stimulate the U.S. economy. It should also be a blueprint for how we establish social priorities for our post-pandemic future trib.al/DpUVxiO

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Bloomberg Opinion

Bloomberg Opinion Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @opinion

Apr 2
Could Trump’s tariffs raise $700 billion a year?

We did the math 🧵 Image
$700 billion is about nine times current US customs revenue, and 2.4% of the most recent estimate of US GDP.

Tariff revenue hasn’t surpassed 2% of GDP since the early 1870s, and hasn’t surpassed it on a sustained basis since the 1820s and 1830s Image
Trump often cites President McKinley’s high tariffs as an inspiration, but during McKinley’s presidency (1897 to 1901) tariffs generated less than half the share of GDP that $700 billion would amount to now Image
Read 10 tweets
Mar 18
Today, Meta is starting to roll out its own version of @X’s @CommunityNotes for Instagram, Threads and Facebook.

Will it work? Analysis of 1.1 million examples of the crowdsourced fact-checking system show it’s not stopping the spread of misinformation.

Look at the data 🧵
One of Community Notes’ main achievements is its speed in addressing misinformation. The chart below shows that it is getting faster 📈

But even with these improvements, notes typically appear after a post’s most viral stage of diffusion (after the damage is already done) Image
It’s unclear how much misinformation is on X — if it could be counted, it could be deleted.

But from X’s data, you can see that most misleading posts go unaddressed: Image
Read 10 tweets
Mar 17, 2023
📉 VCs causing the downfall of SVB
💰 Credit Suisse’s pricey lifeline
🚐 RVs predicting the future

🧵 Catch up on the week in news with @ALampietti’s round up of our must-see videos
If venture capitalists had stayed calm, would #SVB be OK today?

🎥 @kylascan has all the answers
What’s next for Credit Suisse? 🇨🇭

@PaulJDavies explains bloomberg.com/opinion/articl…
Read 6 tweets
Mar 15, 2023
Credit Suisse is in crisis.

What went wrong? So, so much.

🧵 Let’s take a look
We *just* learned that #SVB’s downfall was announcing it was raising equity without having buyers lined up, says @matt_levine.

So why would Credit Suisse’s biggest shareholder announce they would “absolutely not” put more money into the embattled bank? trib.al/aS9oy3I Image
After Saudi National Bank ruled out providing more assistance, #CreditSuisse closed down 24% at 1.697 Swiss francs per share, its lowest closing price on record trib.al/nnFD2F8 Image
Read 10 tweets
Mar 2, 2023
If health is wealth, America is dirt-poor.

The health-care crisis in the US isn’t just a tragedy for individuals. It makes it harder for the country to be productive and secure.

🧵 Let’s look at the data
The most vivid sign of the health crisis is falling life expectancy, says @adwooldridge bloomberg.com/opinion/articl…
There’s perhaps no greater metaphor for this crisis than the unhealthy discourse around Ozempic, writes @JKarl26.

A culture built on dieting is not a proper remedy for what ails us bloomberg.com/opinion/articl…
Read 8 tweets
Feb 28, 2023
📊 3 charts you need to see 📊

💰 Elon Musk is back on top
🇨🇳 Don’t panic over China’s “farm invasion”
⚡️ Putin’s invasion of Ukraine has dramatically redrawn the world’s energy map

Subscribe to Bloomberg Opinion Today for more trib.al/BNqIxPf
💰 Elon Musk is the world’s richest person again.

The billionaire has turned Tesla’s failing into winning bloomberg.com/opinion/articl…
🇨🇳 No need to panic over a “farm invasion”.

China doesn’t own nearly enough land to cause a food crisis bloomberg.com/opinion/articl…
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(