Banaian; Could Be a Rough Next Couple Months [PODCAST]
St. Cloud State University Economist and Dean, School of Public Affairs, King Banaian joined me on WJON today. He says due to the pandemic he expects the next couple of months to be similar to the last 2 months in regards to limited business openings due to Covid-19. He says the vaccine distribution isn't likely to become widespread until this spring at the earliest and with winter upon us we'll likely to see more closings than openings. He does say openings are still happening and this includes some bars and restaurants despite the current restrictions.
Many people are receiving a $600 check from the federal government to help with the impact of Covid-19. King expects that money mostly to go to bills or savings and it wasn't intended to kick start the economy.
Many people have changed how they work due to the pandemic. King says those who moved from working in an office building and/or dealing with a commute are now working remotely from home. He says economically this will impact office buildings and an attempt to down-size could happen in regards to office space needed for many businesses. King says higher education is also being effected by less in-person activity. He says many students prefer a combination of in-person and online learning. He says this could lead to less of a need for campus housing. He gave the example of SCSU bringing Sherburne Hall offline and the demolition of Holes Hall.