Weekly Reader

Friday, July 24, 2020

Economic Development
The Economic Development Administration (EDA) is aware of recent incidents of fraudulent emails, letters, or other communications sent to individuals offering to provide EDA grants in exchange for money or personal information. The scammers behind these fraudulent communications often pose as EDA employees or agents in an attempt to extract payment. Please note that EDA does not provide grants to individuals and does not ask individuals to disclose personal information. In addition, EDA does not require applicants to submit a processing or other fee. EDA grants can only be obtained by following the procedures described in the Notices of Funding Opportunities provided for the programs listed on our Funding Opportunities page. If you believe you have been the victim of one of these scams or are aware of such incidents with your members, please contact the Department of Commerce Office of Inspector General and submit a report. You may also file a complaint with the Federal Trade Commission online at https://www.ftccomplaintassistant.gov/#crnt&panel1-1 or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261.

Source: TIP Strategies

“The EV truck market is heating up with numerous automakers including a host of hungry youngsters RivianLordstown, Tesla and Bollinger each fighting for position. However, with an eye on capturing the lion’s share of the electric truck market, Nikola Corp. recently broke ground on its 1 million-square-foot manufacturing facility in Coolidge, Arizona.” Click here for the full story from Industry Week.

From the Brookings Institute:

The implications of the pandemic. New essays from the Hamilton Project at Brookings explore how COVID-19 could fundamentally change the U.S. economy. Read a summary of key findings from Wendy Edelberg and Jay Shambaugh or see the three full essays below

The nature of work after the crisis. Has the pandemic changed conventional wisdom about automation and inequality in the United States? David Autor and Elisabeth Reynolds make four projections about a rapidly automating post-COVID-19 economy.

Competition and productivity. The economic crisis is changing the business landscape, exacerbating concerns about the state of competition in the U.S. economy. Nancy Rose predicts that with more firm exits and fewer new businesses entrants today, tomorrow’s product and labor markets may be less competitive and productive.

Assessing labor market outcomes. Just as the Great Recession disrupted the labor market attachment of millions of workers, a similar phenomenon will likely occur as a result of the current recession. Betsey Stevenson explores the many ways the COVID-19 recession has affected the U.S. labor market.

More from the Brookings Institute on COVID-19 and returning to school can be found here.