While these measures don’t tell us directly how many people are unemployed, they give us a sense where the economy is heading. There is also data available on the number of people filing unemployment insurance claims. It is difficult to directly translate this into how many people are unemployed, but it is worth tracking too. The Insured Unemployment Rate tells us what percent of the labor force is currently collecting unemployment insurance benefits, and it is updated weekly. The changes in this measure can give us some indication of where the labor market numbers are heading and what we might see in the next BLS monthly labor market report.
While we don’t know if Congress will extend it, end it, or modify it in some way, we can make some predictions about what happens if the $600 per week payment does go away. One major possibility is that many workers would return to their jobs once the benefits expire. The expanded weekly benefits provide some incentive to stay home, which is part of the intuition behind providing it in this crisis, and without the payments some workers may be more willing to head back to work. But, if many businesses stay closed either due to government orders or a lack of consumer demand, those workers may have no jobs to return to, and they will now have much less money in their pockets to spend in the economy. Transparency perceptions of social media influencers affect product efficacy expectations, which are closely linked to purchase behavior13.
The relationship between consumers and companies is influenced not only by transparent actions taken by the company but also by the consumer’s estimation of how the company is behaving when transparency cannot be observed14. Transparency is one of the basic conditions and values establishing positive relationships between customers and companies15. When consumers with activated persuasion knowledge — which suggests that consumers learn how to manage persuasive attempts and develop certain coping strategies that impact the effectiveness of marketing communication16 — are exposed to social media influencer posts with clear disclosures, their perceptions of both influencer transparency and product efficacy will be more positive, resulting in greater intention to purchase the product being promoted by the influencer. The way in which content is prioritized into news feeds and subsequently shared on social media frequently changes and impacts consumers. For example, Facebook recently updated their algorithm to prioritize “meaningful user content” over public/commercial content. The update prioritizes posts that “spark conversations and meaningful interactions between people” instead of posts that receive the most views, clicks, and reactions20.
This update has altered the content to which Facebook users are exposed and has contributed to a steep decline in engagement for many brands that rely on the platform for promotion21. Managers should be aware that these guidelines change regularly as the FTC evolves in its understanding of how to protect consumers against unfair social media influencer practices. Many letters have been written by the FTC to social media influencers recently shunning unethical behavior. Social media influencers merely altering a post retroactively once they have been caught will likely not be adequate in the future as consumers’ persuasion knowledge, skepticism and scrutiny of social media influencer posts continue to increase. Regulatory agencies differ from country to country. Managers should be diligent in keeping abreast of regulations regarding disclosures used in influencer posts.
“What’s Done in the Dark Will be Brought to Light: Effects of Influencer Transparency on Product Efficacy and Purchase Intentions” was published in the Journal of Product and Brand Management. The research was completed by Parker Woodroof, Ph. D. , assistant professor of marketing in the UCA College of Business; Katharine M. Howie, Ph.
D. , assistant professor at the University of Lethbridge’s Dhillon School of Business; Holly Syrdal, Ph. D. , assistant professor of marketing at Texas State University; and Rebecca VanMeter, Ph. D.
, assistant professor of marketing at Ball State University. During one unsuccessful petition drive in Craighead County in 2014, officially registered opposition BQCs “Local Citizens for Safety and Prosperity” and “Craighead Pride” were funded fully by existing liquor stores in bordering Greene and Poinsett Counties. But the public face of the opposition that a local news station chose to interview was Bobby Hester, the State Director of the Arkansas Family Coalition, who called the signature gatherers “a bunch of greedy carpet baggers”7 and was the sole person quoted a month later in a story about the possibility of the county legalizing alcohol8. The Arkansas Family Coalition is a religious organization based in Jonesboro, the largest city in Craighead County and was organized by the Jonesboro Ministerial Fellowship9. One interesting example is from 2014 Newton County. While no BQCs on either side formally were created, a movement on the part of some citizens arose to collect signatures to legalize alcohol sales.
A pastor wrote a letter to the editor of the local newspaper telling the community that his church would be posting the names of everyone who had signed the petition and would make the list available for public viewing. His justification for doing so was to allow people to verify that their names weren’t added to the petition fraudulently, but another reason might be to discourage signers because of the public shame it would cause. The pastor informed readers that he had performed the same service in bordering Boone County in 2010, although, unlike Newton County, the petition drive was successful in Boone County11. Bootleggers and Baptists both have strong, but very different interests in keeping alcohol illegal in some Arkansas counties. The two groups work together explicitly to achieve that goal and point to many other examples of more spontaneously complementary activities. The parochial interests of the individuals joining one of those groups—the Baptists—can be harmed when the other group—the bootleggers—is less active.
Without significant funding from liquor stores in adjacent counties, petition drives to legalize alcohol sales almost always succeed. The vocal opposition of religious leaders and spending by churches also explain some of the failed petition drives. What is most important is the uncovering of an important feature of the bootlegger Baptist coalitions described by Yandle1. As Smith and Yandle12 put it, the combination of economic interest and moral suasion represents a “winning coalition. ” There is evidence in all but two Arkansas counties of the decisiveness a bootlegger–Baptist coalition in blocking an alcohol legalization proposition from being placed on the ballot. And even for those two counties, local media suggested that religious organizations did provide some opposition, although the reports do not contain any details.
Overall, the evidence supplies strong support for Yandle’s theory. Baptists operating alone often fail to prevent legalization of alcohol. Working together with bootleggers, however, the coalition usually is successful in achieving its goal in the case of Arkansas, by keeping the issue off the ballot. And whenever a bootlegger exists to fund the opposition to alcohol legalization, we can usually find evidence of Baptists spreading the moral message and helping the coalition be successful. My research gives us more detailed information on how political coalitions function and contributes to a broader research question in economics and political science. It also sheds light on a current public policy question in Arkansas.
Opponents of legalizing alcohol sales statewide in 2014 argued that local control was better than the state telling counties what they must do. This shows that it is not the citizens of the county that are rejecting alcohol legalization, but rather a political coalition that receives most of its funding from outside the county, and sometimes outside the state. Technology adoption will increase. Otherwise uninterested people have shown up at the tech party during the pandemic and will likely stay a while. Grandma and grandpa are part of a vulnerable population and have taken advantage of online shopping with home delivery during the pandemic. In supply chain management, we use the term “final mile” to describe the delivery of goods to their final destination.
This frequently involves delivering items to a residential location and can involve everything from delivering groceries to installing washers and dryers to setting up a treadmill. More people will take advantage of these services after the pandemic is over simply because they now know they’re available and incredibly convenient. Inflation. Supply chain costs will increase and the price of goods will as well. After many years, firms will finally come to grips with the need to insulate their supply chains against major disruptions.
They will diversify their supplier base away from riskier countries like China. This doesn’t mean they won’t manufacture goods in China. Just that they will also manufacture goods elsewhere. This way, if geopolitical or biological problems occur in China, the firm’s supply chain is not completely broken. Some of this manufacturing may even come back to America. Firms will also hold more inventory of critical goods.
Some industries may even face government mandates that they hold more inventory similar to how the government regulates bank liquidity levels. The U. S. consumer will not tolerate an inability to quickly access critical items such as PPE, pharmaceuticals, and ventilators in the future. Changes in workforce, work life, and work location.
The number of baby boomers in the workforce may decline precipitously after the pandemic. Many who are close to retirement won’t return to work. They may decide the health risks of being in an office are too great or they may simply enjoy staying home. Either way, boomers won’t return to the workforce in the same numbers. After taking time to reflect on life during quarantine, others will return to work but don’t want it to be the same.
They may realize that they actually have a spouse and kids or that a three hour, round trip daily commute isn’t worth it. Commuting via public transportation will be a non starter for many. Commuter trains are Petri dishes and people can be packed in like sardines. More employees will want to work from home. Some employers will welcome this.