Issue 7.04
January 22, 2021
Message from the President
Dr. Tony Allen of Delaware State University reflects on Martin Luther King Jr. Day with DSCC President Mike Quaranta:

Requests for appointments for Delaware Division of Public Health vaccination events are now being taken at
Economic Forecasting with
James E. Glassman
James E. Glassman, managing director with JPMorgan Chase and head economist for Chase Commercial Banking, delivered a keynote presentation at the 184th Annual Dinner around the theme that challenges bring opportunities. He highlighted two fundamental workforce challenges:

  1. Innovation is happening at a rapid rate: Times of great change and innovation are disruptive to the workforce, particularly for older workers who lack the ability to keep up through retraining. This accelerates the income divide.
  2. The challenge is around pay, not jobs: Glassman cited that there are 7 million unfilled jobs in the US because businesses struggle to find people with the skills needed to fill them. 

On the flip side, Glassman also explained the U.S. economy is experiencing a major demographic shift with the retirement of baby boomers. As these people exit the workforce, many job opportunities are opening by people who have a lifetime of skills that weren’t learned in college but over time on the job.

He concluded by recommending that we, as a nation and state, need to help workers understand where the job opportunities are and help them acquire the skills needed to fill those jobs. Ultimately these challenges bring many opportunities for the workforce and U.S. economy. It is up to us to take advantage of them.
Delaware Businesses Show
Resiliency During Pandemic and are Optimistic About the Future
When the COVID-19 pandemic caused Delaware and surrounding states to lock down last spring, many local businesses of all sizes were directly impacted....The result was fundamental changes to how businesses operated and the understanding that they may have to change again until there is a vaccine for COVID-19. Still business leaders adapted, peering through a different lens to not only see what their business is, but what it needed to become.

They leaned on their strengths and relationships to make it all work, and we can all learn from how they did it. Read more >
2021: The K-Shaped Recovery Meets 'The Lady or The Tiger'

By Peter K. Atwater

If you have heard about the K-Shaped Recovery, it is likely my fault. I began using the term last spring with my clients and wrote an op-ed on the topic for the Financial Times in June 2020, when other economists were still promising a V-Shaped Recovery.

While I am an economist and the K-Shaped term has been used by many other economists to characterize the bifurcated nature of the economic recovery since the spring COVID-19 panic, my focus wasn’t the economy at all. It was consumer confidence. Read more >
2021 Brings Reasons for Hope
As 2021 dawns, the factors driving the economy remain the same: the virus, the virus, and the virus. The path of the economy depends significantly on the path of COVID-19. That’s both because of government restrictions imposed to stop the spread of COVID-19
which, by their very nature, curtail economic activity, but also because of the behavior of consumers. If people don’t feel safe, they won’t go to restaurants, get on planes, or check in to hotels. In a consumer-driven economy like ours, that kind of spending is crucial. Read more >
FHLBank Pittsburgh

Financial institutions are central to the people, businesses and communities that they serve. This role becomes even more indispensable in times of economic uncertainty.

As the health and economic ramifications of COVID-19 worsened in early 2020, the Federal Home Loan Bank (FHLBank) System provided consistency and continuity nationwide. Integral to the System’s mission is supporting our member financial institutions by providing readily available liquidity to support community lending, housing and economic development. Read more >
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February 11, 2021
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February 19, 2021
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