The Office of Budget Responsibility’s (OBR) COVID-19 analysis published on 14th April 2020 makes clear that on the basis of evidence from past pandemics the economic impact of the crisis will arise less from illness and death than from the reduction in demand for goods and services stemming from public health restrictions and social distancing … Continue reading “Estimates of the Local Impact in the West Midlands of the OBR Scenario of a 35% Reduction in Real GDP in Q2 2020”
Category: Business
West Midlands Weekly Economic Impact Monitor – 24 April 2020
WM REDI has been tasked with providing an up to date monitor of the current COVID-19 economic impacts to help regional partners to shape responses and interventions to ensure the region continues to thrive. The weekly monitor brings together data and intelligence from the WM REDI partnership into one single source which can be shared … Continue reading “West Midlands Weekly Economic Impact Monitor – 24 April 2020”
COVID-19 Business Support Measures: Insights from the UK, Spain and Ireland
The International Labour Organisation (ILO) estimates that COVID-19 will have far-reaching impacts on world labour market outcomes. The virus and the subsequent economic shocks will impact the world of work across three key dimensions: The number of jobs (both unemployment and underemployment) The quality of work (e.g. wages and access to social protection) Effects on … Continue reading “COVID-19 Business Support Measures: Insights from the UK, Spain and Ireland”
The Uneven Spatial Footprint of the Coronavirus (COVID-19) Shutdown
In this blog, Tasos Kitsos looks into the spatial heterogeneity in the distribution of industries currently shut down in the UK. As the COVID-19 pandemic continues to develop, we begin to realise the potential economic impact from the oncoming recession. The Office for National Statistics has moved with unprecedented speed to gather data on the … Continue reading “The Uneven Spatial Footprint of the Coronavirus (COVID-19) Shutdown”
Identifying Exposure: What Do the IFS Estimates on the Coronavirus Sector Shutdown Mean for the West Midlands?
On April 6th 2020 the Institute for Fiscal Studies published a briefing note about which workers are most exposed to the COVID-19 lockdown. In this blog, Tasos Kitsos looks at the relevant figures for a range of sub-national areas focussing on West Midlands Combined Authority and constituent LEPs and Local Authorities. The sectors directly affected … Continue reading “Identifying Exposure: What Do the IFS Estimates on the Coronavirus Sector Shutdown Mean for the West Midlands?”
The Long-Term Impact of Homeworking Arising From the Coronavirus (COVID-19) Crisis
The ‘Legoland discovery centre’ replica of Birmingham City Centre has had thousands of mini-figures removed to reflect the city’s empty streets, as the COVID-19 crisis means that millions are asked to stay at home. The abandoned City Centre scene reflects how 1 in 3 of all businesses have closed under the COVID-19 regulation (1 in … Continue reading “The Long-Term Impact of Homeworking Arising From the Coronavirus (COVID-19) Crisis”
Local Resilience and the Coronavirus (COVID-19) Economic Crisis
First things first, stay in as much as possible. Never before such a simple action could have such a big impact. From protecting your loved ones to helping the economy, staying in is currently one of our best weapons. The more we stay in, the quicker we will be out of this challenge. Beyond the … Continue reading “Local Resilience and the Coronavirus (COVID-19) Economic Crisis”
Is Birmingham a Just City?
The story of Birmingham’s post-industrial decline in the twentieth century is well known. However, any visitor to the city centre today can’t help but notice its urban renaissance in the twenty-first. From the revitalised New Street station to the glass tower blocks at Snow Hill, major regeneration projects are visually transforming the city. Many of … Continue reading “Is Birmingham a Just City?”
Economic Exposure to COVID-19 (Part III): The Situation in the West Midlands Region – The Sectoral Effects of a Lockdown
Like any good Hollywood blockbuster you can think of, here we finish the trilogy of blogs related to the economic exposure to COVID-19 of the West Midlands’ sectors [1]. If you are still reading this series and you are not overwhelmed yet by the amount of information (and disinformation) related to the pandemic, I hope … Continue reading “Economic Exposure to COVID-19 (Part III): The Situation in the West Midlands Region – The Sectoral Effects of a Lockdown”
Economic Exposure to COVID-19 (Part II): The Situation in the West Midlands Region – Demand for Health Services: The Invisible Indirect Workers
This is the second blog in a series on the economic exposure of the West Midlands region [1] to COVID-19. The first article talked about the effect on the main sectors and the employment depending on foreign trade, in an eventual case of international borders closure. You can read the first blog here. The second … Continue reading “Economic Exposure to COVID-19 (Part II): The Situation in the West Midlands Region – Demand for Health Services: The Invisible Indirect Workers”