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Film industry brings almost $24 million to Okanagan economy in 2019 – Kelowna Capital News

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The good times just keep on rolling for film production in the Okanagan.

More than 30 film productions helped to bring in almost $24 million to the Okanagan economy in 2019, according to the Okanagan Film Commission (OFC).

Major film investments included over $3.8 million from “The Last Victim”, almost $2.2 million from “Alice In Wonderland” and almost $1.9 million from “Chained”.

READ MORE: Okanagan film industry brings in $32 million

“The Okanagan, Boundary, and Similkameen Valleys have a proven track record for providing exceptional value for the producers’ dollar,” said the report.

“We have the talent, energy, and heart to meet most production needs and the tools that will help bring it in on time and on budget.”

To calculate the total investment amount, the commission tracked production, labour, accommodation and supplier costs spent in the Okanagan by filmmakers over the last year.

The report also provided an overview of the commissions 2020 budget, which includes almost $300,000 in operating costs to help attract top film talent to the Okanagan.

For more information, you can look at the OFC’s report online.


@connortrembley
connor.trembley@kelownacapnews.com

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Healthy US economy failed to narrow racial gaps in 2019

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WASHINGTON — The solid growth that the United States enjoyed before the viral pandemic paralyzed the economy this spring failed to reduce racial disparities in Americans’ income and wealth from 2016 through 2019, according to a Federal Reserve report Monday.

Though Black and Hispanic households reported sharper gains in wealth than white households did, those increases weren’t enough to noticeably narrow the racial gaps. The typical white family possessed eight times the wealth of Black families and five times the wealth of Hispanic families in 2019, the Fed said.

The Fed’s Survey of Consumer Finances, released every three years, analyzed incomes and wealth in 2019. The survey found that income for the typical U.S. family rose 5%, adjusted for inflation, from 2016 to 2019 to $58,600. That was weaker than the 9% income gain the typical family received from 2013 through 2016.

The survey provides a trove of information on family finances in the United States, from the percentage of households that own stock (53%) to the proportion that have a retirement account (50%).

While the report shows increases in income and wealth for lower-income and Black families, many economists worry that the pandemic has reversed those gains. Job losses this year have been concentrated among lower-income workers in the restaurant, hotel, retail and travel industries. Those workers are disproportionately non-white.

Some measures did show a narrowing of income disparities. Average income among the wealthiest one-tenth of American families fell 6%, largely because of a steep fall among the richest 1%, Federal Reserve economists said. By contrast, average incomes among the bottom 60% of families rose.

Yet average figures can be skewed by huge incomes at the very top. The Fed report noted, for example, that while average incomes for all families fell 3% from 2016 through 2019, excluding the richest 1%, average incomes rose 3.1%. Income for the richest Americans can fluctuate more sharply year to year than income for lower-income earners, Fed economists said, and likely fell because of smaller gains from stock, bond and property sales.

Economists typically look at median incomes, which reflect the midpoint of all earners, as a way to filter out the extremes. Median income among the poorest one-fifth of Americans rose 3%, while median income for the richest one-tenth increased 6%, the Fed said.

The median family income for whites grew 6%. For Black households, it was slightly better at 7%. For Hispanic families, incomes fell 1%. Median income for white families last year was $69,000, compared with $40,300 for Black families and $40,700 for Hispanics.

Poorer Americans and Black and Hispanic households did gain wealth from 2016 through 2019, mostly from an increase in home ownership and home values. But those increases came from such low levels that they didn’t much narrow overall income disparities, the Fed said.

Black households, for example, reported a 33% gain in net worth and Hispanic families 65%. Wealth in white households increased just 3%. While encouraging, median wealth for white families in 2019 was still much higher, at $188,200, compared with $24,100 for Black families and $36,200 for Hispanics.

Economic research has found that differences in inheritances are a major factor behind the racial wealth gap. A separate Fed note released Monday found that 30% of white families report receiving an inheritance — three times the corresponding proportion of Black families and four times that of Hispanic families.

The richest 1% of Americans owned one-third of the nation’s wealth in 2019, down slightly from nearly four-fifths in 2016. But wealth grew for the next-richest 9% of the population, the Fed said in another research note. So that the richest one-tenth of families owned 71% of wealth, unchanged from 2016.

Christopher Rugaber, The Associated Press

Source: – NEWS 1130 – News 1130

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The coronavirus has now killed more than 1 million people and upended the global economy in less than nine months – CNBC

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The coronavirus has killed at least 1 million people across the globe, a nightmarish milestone in the world’s fight against the virus that emerged from Wuhan, China, late last year, according to data compiled by Johns Hopkins University. 

Roughly half of the world’s total Covid-19 fatalities have been reported in only four countries — the United States, Brazil, India and Mexico, according to Hopkins data.

The U.S. reached a death toll above 200,000 people last week, more than any other country on the planet. Declared a pandemic over six months ago, the coronavirus has swept through nearly every nation and has infected more than 33 million people along the way, according to Johns Hopkins. It’s shuttered businesses and schools, wreaking havoc on global economies and leaving millions unemployed. 

“One million is a terrible number, and I think we need to reflect on that before we start considering a second million,” Dr. Mike Ryan, executive director of the World Health Organization’s health emergencies program, told reporters on Friday. 

CNBC has compiled a package of stories that will run Monday and Tuesday looking back at how the coronavirus pandemic has changed health care, the economy and society itself since its discovery less than nine months ago. 

Please check back here for links to these coming stories and more as they are published:

A timeline of the insidious path the coronavirus took around the world to kill more than 1 million 

From a wet market in Wuhan, China, the coronavirus infiltrated Asia within weeks of its discovery before traveling to Europe, hitting the U.S. in January in Washington state and New York City. It’s since spread throughout Latin America and now Africa.

Medical historian compares the coronavirus to the 1918 flu pandemic: Both were highly political 

A historical look at how the Covid-19 outbreak compares with the 1918 flu pandemic — from the diseases themselves to resistance to wearing masks during both outbreaks. There was even a 1918 epidemiologist who withstood criticism for his public health recommendations, similar to Dr. Anthony Fauci today.

As coronavirus deaths pass 1 million, health-care workers around the world share stories from the front lines 

From Bangalore, India, to Sao Paulo, doctors and health workers share personal stories about the coronavirus outbreak from across the world.

The coronavirus is shifting the power balance in air travel to last-minute leisure passengers 

Milan is out and the Rocky Mountains are in. The pandemic is turning airlines’ most price-sensitive customers, leisure travelers, into a prize. Carriers are adding more vacation destinations and trying to create softer, gentler policies for a group that has long taken a back seat.

How the U.S. economic response to the pandemic stacks up to the rest of the world

While the U.S. health response to the coronavirus pandemic has faced criticism, the economic response has been among the best in the world. In the throes of the pandemic, the Federal Reserve and U.S. lawmakers moved swiftly to implement unprecedented stimulus aimed at supporting the largest economy in the world during a global halt to economic activity.

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Zimbabwe Seeks to Slow Exodus of Doctors as Economy Collapses – BNN

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(Bloomberg) —

Zimbabwe is seeking to tighten the rules on how a certificate which its doctors need in order to get work abroad is issued as medical professionals flee the country’s collapsing economy.

The so-called “Certificate of Good Standing” issued by the Medical and Dental Practitioners Council of Zimbabwe may now need prior approval by the state, the Zimbabwe Senior Hospital Doctors Association said.

Professional bodies rely on the document as proof of clearance that doctors seeking work and study placement in a foreign country, among other things, have no outstanding disciplinary issues regarding patient care.

“The CGS is never issued by a government anywhere in the world,” the doctors association said in a Twitter posting.

Zimbabwe’s two-decade economic collapse is touching new lows with inflation at more than 750% and the country’s currency collapsing. Shortages of food and fuel are common and a quarter of the population, including many of the country’s doctors and teachers, have left to seek work in South Africa, the U.K. and other countries.

“This has a bearing, as the government determines who goes out of the country,” Aaron Musara, the secretary-general of the doctors association, said in an interview on Monday. “The government is trying to retain staff at a time when they are failing to keep them” happy in their work, he said.

Jasper Chimedza, Zimbabwe’s permanent secretary for health, didn’t respond to calls seeking comment.

The southern African nation’s health sector has not been spared from the wider economic meltdown. It’s frequently been hard-hit by strikes lasting several months over low wages and shortages at public hospitals of everything from medicines to personal protective equipment needed to fight the coronavirus pandemic.

Doctors earn salaries starting at Z$9,000 ($110) per month. The council, which has 3,371 registered doctors in the country, didn’t immediately respond to emailed queries.

©2020 Bloomberg L.P.

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