COVID-19 Monitor

Last Updated:October 15, 2020

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Leaders, Do You Have a Clear Vision for the Post-Crisis Future? (HBR) Published on: April 17, 2020 | Category: Leadership

Visionary leaders like Abraham Lincoln, FDR, Winston Churchill, and Nelson Mandela didn’t simply react to the most imminent threats confronting them; they also looked beyond the dark horizon.
It may be hard to see now, but the seeds of the next great growth industries are taking root now.
Interrogate what is likely to change about your customers, markets, and operating environment, and what isn’t.

Could a remote-work revolution spread tech outside its clusters? (Protocol) Published on: April 17, 2020 | Category: Economic Impact

Champions of spreading tech opportunities into new hubs believe the coronavirus-driven shift to remote work could boost their efforts — as long as the crisis’ economic ravages don’t set them back even further.
About three-fourths of business executives said in a recent Gartner survey that they expected to shift some jobs to permanent remote status.
The trend could become part of a greater tech expansion from places like the Bay Area, Seattle, New York and Boston — the regions that attract the most venture capital funding — to areas like the Midwest and the South.

U.S. now has 22 million unemployed, wiping out a decade of job gains (Washington Post) Published on: April 17, 2020 | Category: Economic Impact, Global Response

More than 22 million Americans have filed for unemployment aid since President Trump declared a national emergency, a staggering loss of jobs that has wiped out a decade of employment gains and pushed families to line up at food banks as they await government help.
Layoffs are mounting in nearly every sector as businesses have been forced to close in an effort to stem the spread of covid-19.
The Small Business Administration stopped accepting loan applications on Thursday after it ran out of funds for a key program that is supposed to help businesses stay afloat and retain workers.

Starbucks CEO lays out plan for ‘next phase’ as coffee giant looks to reopen U.S. stores (GeekWire) Published on: April 16, 2020 | Category: Global Response

Starbucks is entering a “monitor and adapt” stage as it aims to reopen stores in the U.S.
Starbucks will follow a similar playbook to its China strategy, where more than 95% of its stores are now open again.
Johnson said the reopening strategy is “not a light switch; it’s more of a dial.” Starbucks will make decisions on a community-by-community basis.

Now mental health is on everyone’s agenda (FT) Published on: April 16, 2020 | Category: Leadership

The coronavirus pandemic has sparked a mass retreat of white-collar workers from the office to home amid economic turmoil.
“Even someone who is relatively healthy mental health wise is going to feel the effects of an abrupt change of their lifestyle: not being able to go out [and the fear of] the unknown, fear of losing their job or having lost their job.”
In the UK, Bupa, the private healthcare provider, reports that workplace psychologists are fully booked for virtual consultations and its health and wellbeing advice line has received 300 per cent more calls since the coronavirus crisis unfolded.

The pandemic seems to be giving Canadians warm feelings about government. Can it last? (CBC) Published on: April 16, 2020 | Category: Canadian Business, Global Response

A lot has changed in the last month — possibly even our views about the role and value of government.
The result was effectively a toss-up: 52 per cent sided with the pro-government statement, while 48 per cent took the dimmer view.
Public support has increased for elected leaders across the western world in the initial stages of this crisis. A new sense of belief in the value of government could be connected to that same phenomenon.

Tracking covid-19 excess deaths across countries (The Economist) Published on: April 16, 2020 | Category: Economic Impact, Global Response

In many places, official daily figures exclude anybody who did not die in hospital or who did not test positive.
The best way to measure the full damage caused by such a medical crisis is to look at “excess mortality”: the gap between the total number of people who died from any cause during a given period, and the historical average for the same place and time of year.
This suggests that the true toll was about 120% higher.

Food banks’ demand surges amid COVID-19. Now they worry about long-term pressures (Global News) Published on: April 15, 2020 | Category: Canadian Business, Economic Impact

The use of food banks increased 28 per cent across the country during the Great Recession, according to Food Banks Canada CEO Chris Hatch — and in just in the last few weeks of the COVID-19 pandemic, demand jumped 20 per cent on average.
As the spread of COVID-19 forces businesses to close and lay off employees, Hatch projected demand at the 3,000 food agencies his organization represents could surge to 30 or even 40 per cent from pre-pandemic levels, which averaged 1.1 million visits per month.

Coronavirus Fight Is Creating Mountains of Global Debt (WSJ) Published on: April 15, 2020 | Category: Economic Impact

Already, global authorities have announced emergency efforts totaling almost $8 trillion in direct spending, loans and loan guarantees, the International Monetary Fund (IMF) said on Wednesday.
That is roughly 9.5% of global output, according to Vitor Gaspar, the IMF’s fiscal-affairs director.
The IMF expects the world’s gross fiscal debt will grow to 96.4% of GDP this year from 83.3% in 2019. In advanced economies, it will grow even more: to 122.4% from 105.2%, the IMF said.

Leaked CDC and FEMA plan warns of ‘significant risk of resurgence of the virus’ with phased reopening (Washington Post) Published on: April 15, 2020 | Category: Economic Impact, Global Response, Leadership

A draft national strategy to reopen the country in phases, developed by the Federal Emergency Management Agency and the Centers for Disease Control and Prevention, emphasizes that even a cautious and phased approach “will entail a significant risk of resurgence of the virus.”
The framework lays out criteria that should be in place before a region can responsibly ease guidelines related to public gatherings: a “genuinely low” number of cases; a “well functioning” monitoring system capable of “promptly detecting” spikes of infections; a public health system able to react robustly to new cases and local health systems that have enough inpatient beds to rapidly scale up in the event of a surge in cases.
Reading the 10-page executive summary of the proposed public health response offers a window into the discussions happening inside the government about how to practically and responsibly ease toward reopening.
For example, the document says the first priority should be reopening places where children are cared for – including K-12 schools, day cares and summer camps – so parents can return to work.

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