The Economic Impact of the Solar Eclipse on the US and Affected States
Brief Published on March 28, 2024On Monday, April 8, a total solar eclipse will cross North America, passing over Mexico, the United States, and Canada. The path of totality enters Texas around Eagle Pass and crosses the nation to the northeast, exiting the northeast near Houlton, Maine. More than 30 million people reside in the path of totality (including about 12 million in Texas alone).
- Tags:
- eclipse,
- impact analysis
Economics of the 2024 Solar Eclipse
Brief Published on March 25, 2024On Monday, April 8, a total solar eclipse will cross North America, passing over Mexico, the United States, and Canada. The path of totality enters Texas around Eagle Pass and crosses the state to the northeast, exiting near the northeast corner. About 12 million Texans reside in the path of totality, which includes the major metropolitan areas along the I-35 corridor.
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- eclipse,
- impact analysis
The High Cost of the Texas Panhandle Wildfires
Brief Published on March 08, 2024Recent wildfires in the Texas panhandle have burned well over a million acres, causing tragic loss of life and devastating local communities. In addition, the fires have destroyed livestock and grazing land in this region which is crucial to the US beef industry.
- Tags:
- natural disaster,
- fire
The Economic Benefits of Texas‑Mexico Trade
Brief Published on February 15, 2024Trade between the United States and Mexico is crucial to both nations, and Texas has been the leading state for exports and imports between the two countries for decades. The Perryman Group estimates that trade between Texas and Mexico generates business activity across the United States of almost $1 trillion in gross domestic product annually and more than 8 million jobs (including multiplier effects and based on 2023 trade levels), with much of the activity concentrated in Texas.
- Tags:
- Federal Reserve,
- trade,
- Mexico,
- United States
The Economic Impact of the Auto Workers Strike
Brief Published on September 21, 2023The United Auto Workers (UAW) union is in the midst of an unprecedented "stand-up strike" against the three major US auto manufacturers, presently shutting down US factories in Ohio, Michigan, and Missouri; idling 12,700 union workers; and disrupting other parts of the supply chain. These interruptions come at a time when the industry was just beginning to normalize in the aftermath of the pandemic. Given the scope of affected operations, the economic costs of the strike are high and could well increase substantially if the work stoppages are prolonged and expanded.
- Tags:
- automotive,
- strike,
- UAW,
- economic impact
Economic Costs of Hurricane Idalia Include an Estimated $18.4 Billion Net Loss in US Output
Brief Published on September 15, 2023On August 30, Hurricane Idalia made landfall as a Category 3 hurricane along Florida's Gulf Coast causing severe wind damage and flooding. The storm continued across Georgia as well as South Carolina and North Carolina as a tropical storm. The human suffering is of paramount importance and should be the primary concern, as well as enormous emotional losses. In addition, the storm will have a significant impact on the economy.
- Tags:
- economic impact,
- hurricane,
- natural disaster
The High Economic Cost of the Opioid Crisis
Brief Published on September 13, 2023Opioid addiction and overdoses have devasted individuals, families, and communities across the state, nation, and world. The human costs of this health crisis are immeasurable and are the reason that aggressively attacking this crisis is a social and humanitarian imperative. At the same time, there are significant economic consequences and impacts that stem from this massive health issue. The Perryman Group recently estimated the costs of the opioid crisis in Texas in order to provide a perspective on the magnitude of these negative effects.
The High Cost of Heat
Brief Published on July 24, 2023Texas has obviously experienced a heat wave of historic proportions in the summer of 2023. The higher-than-normal temperatures have created health issues for many residents and impacted quality of life for millions of people. Not surprisingly, the effects do not stop there.
- Tags:
- Texas,
- impact analysis,
- climate
The Economic Impact of a National Rail Strike
Brief Published on October 17, 2022Rail is a crucial component of the US logistics system, and a strike would lead to significant logistical dislocations, exacerbate ongoing supply chain challenges, put additional upward pressure on prices and, thus, do substantial economic harm. Although a tentative agreement was reached between the major railways and union representatives (with the help of Biden Administration officials), it requires ratification by union members before going into effect. One of the largest of the 12 unions recently rejected the package, and concern has been expressed by several others.
- Tags:
- shipping,
- railroad,
- strike,
- impact analysis
Economic Costs of Hurricane Ian Include an Estimated $36.7 Billion Net Loss in US Output
Brief Published on September 30, 2022On September 28, Hurricane Ian made landfall along the southwest Florida coast causing severe wind damage and flooding. The loss of life and human suffering is of paramount importance and should be the primary concern, as well as enormous emotional losses. In addition, the storm will have a significant impact on the economy, which could rise if there is significant additional damage in South Carolina.
- Tags:
- storm,
- hurricane,
- natural disaster,
- impact analysis