Weekly Update – January 27th 2022

It is being reported that the rapidly spreading Omicron variant is causing worker shortages across the entire economy as employees are out sick or quarantining. At Delta Airlines, 8,000 employees contracted COVID-19 recently, contributing to more than 2,200 cancelled flights. Grocery stores and many other businesses are cutting back on their product lines. A shortage of truck drivers means shipments are delayed, so store shelves are empty. Children are taking public buses…  Read more

Weekly Update – January 20th 2022

Yet again, some people are seeing bare shelves in grocery stores. Our just-in-time supply chain depends on synchrony in all links to keep shelves stocked, but a combination of factors is disrupting the timing. The fast-spreading omicron variant means grocery store workers are calling in sick, as are workers at food producers. Besides workers who are temporarily out sick, grocery stores are dealing with a labor shortage, as people quit over the…  Read more

Weekly Update – January 6th 2022; Welcome to a New Year

The rapid spread of the Omicron variant is impacting businesses large and small, keeping some staff members home or quarantined. Record levels of new infections in the US are forcing airlines to cancel flights, stores to close, and available workers to work longer hours or in different areas than normal. While new CDC guidance decreases the number of quarantine days from ten to five, the infectious nature of the new variant may…  Read more

Weekly Update – December 16th 2021

We are in the early days of understanding the possible impact of the new Omicron variant; it can be difficult to parse fact from opinion. In The Atlantic, Derek Thompson looks at the studies and anecdotal evidence available at this point so we can develop an early if imperfect evaluation of the risks. Omicron is more transmissible and will spread faster than Delta. Omicron will cause more breakthrough infections. On the…  Read more

Weekly Update – December 9th 2021

What happens to the people who don’t quit or retire during the “Great Resignation?” Those left behind may be picking up additional responsibilities, earning bonuses,  while putting in those extra hours. Over time, managers begin to see the extra hours and work that their team puts in as the norm.  This may also lead to burnout and the loss of knowledge from the workplace as people with specific skill sets are not…  Read more

Weekly Update – November 26th 2021, Happy Thanksgiving; Happy Holiday

In honor of the Thanksgiving Holiday this week, we are keeping this short and sweet. Pumpkin Pie for Thanksgiving I am so grateful my family can be together this thanksgiving holiday.  Yesterday morning my husband David and I flew into Detroit (DTW) minutes before my daughter Jessie’s flight from Atlanta landed a few gates away. DTW We all headed for the pick-up area where my daughter Emily and her husband…  Read more

Weekly Update – November 11th 2021

Sending best wishes and our thanks to our veterans and their families this Veterans day 2021.  We salute you and appreciate your courage and service to our country.   We’ve been hearing about the tight market for available workers, so what’s the solution?  Per this recent Wall Street Journal article, some companies are responding by loosening hiring requirements such as the need for a bachelor’s degree, work experience or or background check. …  Read more

Weekly Update – November 4th 2021

As the pandemic continues, many people are having a harder time making small daily decisions such as what to wear or what to have for lunch. According to a recent survey by the Harris Poll, nearly a third of adults were still so stressed by the pandemic that small decisions were difficult. Millennials and parents with children under 18 are having the hardest time with decisions. The combination of safety precautions,…  Read more

Weekly Update – October 28th 2021

On November 8, the U.S. will open borders to foreign travelers, marking a new and exciting stage in the pandemic. The Delta variant surge seems to be easing, vaccinations and boosters are available to more people, and mask mandates are being dropped. Case counts appear to be decreasing, and hospitalizations are declining in most parts of the country. However, worker shortages – particularly in restaurants – persist as a reminder that…  Read more

Weekly Update – October 14th 2021

Global supply chain delays have become so bad that the biggest U.S. retailers are chartering their own cargo ships to stock shelves this holiday season. Walmart, Home Depot, Costco, and Target are among companies that are paying the additional expense to mitigate holiday disruptions. While the smaller ships these companies will use are far more expensive than the larger ones, they have the advantage of the ability to dock at smaller, less…  Read more

Weekly Update – September 30th 2021

This recent article in the Washington Post has highlighted (please sing as you read) where have all the employees gone…to the legal cannabis industry,  which has been absorbing furloughed, laid-off, and disenchanted retail and restaurant workers at a rapid pace throughout the pandemic. An estimated 321,000 people in the U.S. work in the industry, more than work as dentists, paramedics, or electrical engineers. Burnout, overwork, and challenges with unhappy customers in retail during…  Read more

Weekly Update – September 23rd 2021

Even before the pandemic, some restaurant owners were challenging the model of paying servers only $2.13 an hour and depending on tips from customers to make them whole. Today, as restaurants and bars struggle to find enough workers to stay open, a few are making further changes to their business model. Some are raising wages and offering sign-on bonuses. Others are adding service charges to every bill, and others are simply…  Read more

Weekly Update – September 2nd 2021

While businesses have been mandating vaccines for employees for some time now, some are now beginning to take a harder line. Large corporations like Delta Airlines, are charging unvaccinated employees an extra $200 per month for health insurance, and some are firing unvaccinated employees. Companies that require employees to be vaccinated face several risks. First, the divisive nature of the covid vaccine may lead to workplace bullying or retaliation of unvaccinated…  Read more

Weekly Update – August 19th 2021

Those COVID-19 relief programs which certainly helped keep millions of Americans and businesses afloat during the pandemic,  have unfortunately also been a spectacular bonanza for an array of international scam artists, including Russian mobsters, Chinese hackers, and Nigerian scammers. An estimated $87 million to $400 billion in unemployment benefits may have been lost to fraud; at least half of that is thought to have been stolen by foreign criminals. Many took…  Read more

Weekly Update – July 29 2021

The U.S. economy depends on population growth as a driver, but recent estimates indicate that the COVID-19 pandemic has compounded a decade long fertility slump to result in the lowest population growth rate in history. In half of all states, more people died than were born. The impact is most acutely felt in rural communities, which frequently lack the jobs, child-care options and housing that young families need. The result…  Read more

Weekly Update – July 15th 2021

In the wake of the pandemic, many families may find themselves with medical debt from COVID-related hospitalizations. This article from Acorns has four steps to take to reduce damage to credit scores from medical debt. First, review the bill to make sure it’s accurate. See if you can set up a payment plan with the provider. Try to negotiate with the provider to accept rates that are closer to Medicare…  Read more

Weekly Update – July 8th 2021

While pandemic restrictions are easing in the U.S. as vaccination rates rise and infection rates fall, whether that trend will continue may depend on the interaction of three principles. First, thank goodness current vaccines still seem to be effective against the variants. Per the CDC and current research, those who have been fully vaccinated with any of the vaccines are not as likely to get as sick or to be hospitalized,…  Read more

A Season of Takeaways

Originally published in the June 2021 Nassau/Suffolk Chapter of NCCPAP Newsletter.   I wanted to share my recently published article as I feel so strongly about the message being more far reaching than my immediate accounting community. Message from the Educational Foundation President A Season of Takeaways By Andrea Parness It has been a while since we included our MAP meeting Take-A-Ways in our quarterly newsletters. The great content always made…  Read more

Weekly Update – July 1st 2021

As the pandemic recedes and businesses reopen, millions are quitting their jobs rather than return to their pre-pandemic routine. Some are seeking out positions where they can be fully remote, while others, particularly in the leisure and hospitality sector, are seeking better work-life balance, higher pay, or a less stressful work environment. The lengthy experiment with remote work has changed what people think about where and how they want to…  Read more

Weekly Update – June 24th 2021

Is there a perfect number of hours to work each day? Research shows that five hours seems to be the maximum that people can focus and be creative. The constraint of a shorter workday can also increase productivity as people are forced to find ways to get their work done in less time. While a shorter workday gives people more time for other pursuits, it also has several downsides. People have…  Read more

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