Tag: Worse

Self-inflicted wounds make Seattle’s business losses worse

I’ll never forget the neon.

To be sure, it wasn’t the only dazzling thing about arriving here in the late summer of 2007.

This region had one of the most diverse economies in America, from tech to Boeing and deep-water ports. And it was only getting started — especially downtown.

That first summer, especially, I noticed how happy people seemed walking around the central city. The sense of pleasure was heightened by the Duck tours, passengers singing, years before poor maintenance caused a fatal crash.

Unlike so many American cities that lost their downtown retail and major corporate headquarters to suburbanization, Seattle didn’t. Retaining a strong core required repeated infusions of new capital, ideas and commitment. Most Seattleites loved their downtown and never gave up on it.

As a result, and despite the Great Recession’s grim reaper claiming a key employer, Washington Mutual, downtown was in amazing shape. And it

Read More

With the Economy This Bad, Unemployment Should Be Even Worse

(Bloomberg Opinion) — Many Asian economies are suffering historic slumps. It’s visible in the mothballed planes parked at empty terminals, the once-bustling central business districts that have emptied, and the rising number of boarded-up shopfronts. Just don’t look for it in the region’s unemployment figures.



a sign on the side of a building: pedestrians walk past closed shops during a partial lockdown imposed due to the coronavirus in Kuala Lumpur, Malaysia, on Wednesday, May 20, 2020. The Malaysian government is working to implement its 260 billion ringgit ($60 billion) stimulus package, the biggest in Southeast Asia as proportion of gross domestic product, while promising another set of measures to bolster an economy struggling with the effects of the pandemic.


© Bloomberg
pedestrians walk past closed shops during a partial lockdown imposed due to the coronavirus in Kuala Lumpur, Malaysia, on Wednesday, May 20, 2020. The Malaysian government is working to implement its 260 billion ringgit ($60 billion) stimulus package, the biggest in Southeast Asia as proportion of gross domestic product, while promising another set of measures to bolster an economy struggling with the effects of the pandemic.

In some of Southeast Asia’s most important economies, jobless rates haven’t risen much above 5%: It’s 2.9% in Singapore and 4.9% in Malaysia. That seems out of step with the severity of their economic contractions: Singapore’s gross

Read More