COVID-19 Monitor

Last Updated:October 15, 2020

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How the covid-19 pandemic is changing Americans’ spending habits (The Economist) Published on: April 9, 2020 | Category: Economic Impact

A stockpiling splurge in early March has given way to penny-pinching.
Today, with stay-at-home orders in effect for 300m Americans in more than 40 states, the early rush to stock up seems to have subsided.
Consumers did not react uniformly to social-distancing guidelines. Households with children spent more than other households in the early days of the pandemic, but later cut back twice as fast as those without, perhaps because parents were less inclined to venture out with their kids.
Men seemed more reluctant than women to change their behaviour.

Airports rush to create health and safety guidelines for travel rebound (FT) Published on: April 9, 2020 | Category: Global Response

European airports are drawing up industry-wide guidelines on issues such as passenger health screening to ensure a co-ordinated response when travel restrictions imposed during the coronavirus pandemic are eased.
The airport has called for a global standard in passenger health screening for coronavirus as the industry currently takes different approaches based on guidance from their national public health authorities.
ACI Europe, the trade body for airport operators, said it had this week started convening task forces to come up with a set of guidelines looking at addressing health and hygiene issues for when air transport restarts around the world to ensure there was ‘harmonisation’ among airports.

Amid staggering unemployment rate, public servants handling EI claims are unsung heroes (Ottawa Citizen) Published on: April 8, 2020 | Category: Canadian Business

Canada hasn’t seen unemployment rates higher than 20 per cent since the darkest days of the Great Depression.
By Monday evening, the number of EI claims made since March 16 was 2.72 million. There were 788,000 Canada Emergency Response Benefit applications made on Monday alone.
In the event, the new system exceeded expectations, clearing 500,000 claims in the first 24 hours.
By Monday, April 6, 2.24 million claims had been processed, meaning electronic or paper cheques were in the mail. The dispatch with which the whole process has been carried out does raise the question of why it takes 28 days under normal circumstances.

Europe’s Big Economies Brace for Sharpest Drop Since World War II (NY Times) Published on: April 8, 2020 | Category: Economic Impact

Germany and France are a harbinger of how bad it’s about to get as countries weigh the cost of coronavirus-induced lockdowns against the prospect of an extended recession.
France officially slid into a recession after suffering one of the worst quarterly contractions in more than 50 years.
For every two weeks the population remains under confinement, the economy shrinks by at least 1.5 percent, it added.

Canadian Perspectives Survey Series 1: Impacts of COVID-19 (Statistics Canada) Published on: April 8, 2020 | Category: Canadian Business

To get timely information about how Canadians are coping with COVID-19, Statistics Canada developed a new web panel survey. More than 4,600 people in the 10 provinces responded to this survey between March 29 and April 3.
One in 10 women is very or extremely concerned about the possibility of violence in the home.
More than one-half of Canadians used news outlets as a main source of information about COVID-19. This proportion was higher among Canadians aged 50 and older (56%) than among those younger than 50 (47%).

What Impact Does It Have When Leaders Become Sick? (Forbes) Published on: April 7, 2020 | Category: Leadership

The concept of hero leadership came into its own in 1978 when James MacGregor Burns published his Pulitzer Prize winner, in which he described the transformative leader. Such an inspirational figure was expressed in one of four forms: revolutionary, intellectual, reform, or heroic.
The futility of this image of leaders as unbreakable is perhaps never more evident than it is during the current coronavirus pandemic, during which a coterie of political, industrial, and scientific leaders have fronted up to the television cameras, trying to cajole the population to act appropriately to halt the spread of COVID-19.
The study gathered data on around 13,000 Danish SMEs from 1996 to 2012, with the data revealing that a five-to-seven day period of hospitalization for the CEO resulted in profitability of that business falling by 7% during that year.

Healthcare, like banking, needs buffers to survive a shock (FT) Published on: April 7, 2020 | Category: Economic Impact, Global Response

Apply the lessons of the global financial crisis to make our health systems resilient.
Effective risk management requires an understanding of where the risk in the system resides so that the appropriate action can be taken to mitigate the risk and reduce collateral damage.
We are learning much the same about the inadequacy of buffers in the healthcare systems in many countries.

The COVID-19 Crisis and Policy Preferences of Canadian Technology Scale-ups (University of Toronto) Published on: April 7, 2020 | Category: Canadian Business

This report assesses the perspective of Canadian technology scale-ups: what is their top economic concern and what do they think about the federal support being offered?
Majority of respondents cite ‘revenue’ as their top concern right now, not payroll or other business concerns.
When asked what more government should do, one-quarter of those who answered think the government should consider procurement options.

How to Manage Coronavirus Layoffs with Compassion (HBR) Published on: April 7, 2020 | Category: Leadership

Managers are not only dealing with the stress and sadness of having to let go of a large number of their workers, many of them are also feeling underlying anxiety about their own positions.
If you’re the one making the decisions about layoffs, Joshua Margolis, a professor at Harvard Business School, recommends asking yourself one question: is downsizing your workforce truly necessary?
Even if you’ve presided over layoffs in the past, overseeing them during the coronavirus outbreak will be different for one key reason: they won’t take place in person because of social distancing measures.

Why is B.C. flattening the COVID-19 curve while numbers in central Canada surge? (CBC) Published on: April 7, 2020 | Category: Canadian Business, Leadership

The COVID-19 outbreak is currently more severe in Canada’s two largest provinces than it is in British Columbia.
Fisman believes B.C. was able to, as Henry put it, “take a lot of measures early” because they had the lines of communication to quickly scale up a unified response relatively early.
At the same time, British Columbia was fortunate that the scheduled spring break for students was later than in other jurisdictions — allowing health officials to adapt.

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