California counties with excessive Covid vaccination charges helped Newsom win recall election

California Governor Gavin Newsom speaks to media representatives after meeting students from Melrose Leadership Academy while attending school in Oakland, Calif. On Wednesday, September 15, 2021.

Stephen Lam | San Francisco Chronicle | Hearst Newspapers via Getty Images

California Governor Gavin Newsom named his decisive victory Victory for Vaccines and Science in this week’s recall vote. The dates confirm him.

A CNBC analysis of the county-level results – which are tentative as ballots continue to be counted – found a strong association between support for Newsom and counties with high Covid vaccination rates on election day, Sept. 14.

People in counties with high Covid vaccination rates voted overwhelmingly to keep him in office. Conversely, people in counties with lower vaccination rates voted for the governor’s removal.

“‘No’ is not the only thing said tonight. I want to focus on what we as a state said ‘Yes’ to,” Newsom said late Tuesday in Sacramento, thanking his supporters. “We said ‘yes’ to science, we said ‘yes’ to vaccines, we said ‘yes’ to ending this pandemic.

The analysis also shows that people in many of California’s smaller counties are less likely to support Newsom and get vaccinated.

Of the 23 districts with fewer than 100,000 inhabitants, 17 or around three quarters voted with “yes” for the recall. Meanwhile, only 10 of the 35 counties with more than 100,000 residents voted for the recall.

These small counties also tended to have lower vaccination rates. Eighteen of the 23 reported fewer than 50% of residents were fully vaccinated on election day, according to a CNBC analysis of data from the California Department of Health.

Lassen County, for example, has an estimated population of around 30,600 (as of 2019) and a current vaccination rate of nearly 22%. Around 84% of voters voted “yes” to the recall.

Similarly, Modoc County has an estimated population of 8,800 (as of 2019) and a current vaccination rate of 36.3%. 78 percent of voters also supported the recall.

At the other end of the spectrum, Los Angeles County has an estimated population of over 10 million (as of 2019) and a vaccination rate of 59.5%. Newsom’s voters strongly supported Newsom, with 70.8% voting “no”.

The majority of counties classified as rural or predominantly rural supported Newsom and were less likely to be vaccinated, according to the latest 2010 data from the Census Bureau defines rural as a population, dwelling, or territory that is not in an urban area or in areas of 50,000 or more residents.

Ten of the eleven counties classified as rural or predominantly rural in California voted “yes” to the recall. These include Amador County, Calaveras County, Lassen County, Mariposa County, Modoc County, Plumas County, Sierra County, Siskiyou County, Tehama County, and Trinity County, according to California’s Secretary of State.

According to CNBC analysis, all 10 of these counties reported vaccination rates below 50% on election day.

President Joe Biden, who ran for Newsom on the eve of Election Day, reiterated the governor’s opinion of his victory.

“This vote is an overwhelming victory for the approach he and I share to defeating the pandemic: strong vaccine requirements, strong steps to safely reopen schools, and strong plans to distribute real drugs – not fake treatments – to help those out who get sick. “Said Biden in a statement on Wednesday.

While the preliminary election results suggest the majority of Californians support the state’s pandemic measures, it was initially Newsom’s response to Covid that threatened its political fate.

Nationwide mask requirements, stay-at-home orders, and a maskless appearance by the governor at a high-end Napa Valley restaurant at the height of the rising Covid cases helped the recall petition gain momentum late last year and close to 1, Made 5 million Californians sign it.

However, Newsom’s handling of the pandemic over the past few months, including its vaccine roll-out and mandates, became one of its strengths in the recall election.

The governor introduced Covid vaccine requirements for government officials and healthcare workers in late July entered into force on August 5th. He also introduced similar vaccination requirements for teachers and other school staff, a first in the nation that entered into force on August 12th.

California Governor Gavin Newsom attends a press conference to launch a Coronavirus Disease (COVID-19) Immunization Center on February 8, 2021 in San Diego, California.

Sandy Huffaker | Swimming pool | via Reuters

In the weeks leading up to the election, Newsom’s campaign criticized conservative talk show host Larry Elder, the Republican front runner, for agreeing to end such vaccine mandates and other pandemic measures.

The governor’s vigorous election campaign also promoted the state’s high vaccination rates in recent months. According to Friday, 59.23% of the state’s population is fully vaccinated Data compiled from Johns Hopkins University.

A September poll published in the run-up to the recall election found that more than 3 in 4 Californians believe the state government is doing “an excellent or good job” distributing Covid vaccines. And about 6 in 10 said they approve of the overall way Newsom has responded to the pandemic, according to the Public Policy Institute of California poll.

“While a small group of cowardly, corrupt scammers in the Republican Party seek to attract attention by undermining trust in science and public health, the vast majority of Americans have not been fooled – they understand that vaccinations save lives “And they” support vaccine mandates with common sense, “Los Angeles-based Democratic adviser Michael Soneff said in an email.

Downward Stress on Cash-Market Charges Continues; Delta Variant Hits China Companies Sector

Good day. The Federal Reserve’s primary tool for controlling economic dynamism is ticking down again, increasing the possibility that officials may need to take technical measures to get it going again. Meanwhile, China’s service sector suffered an unexpectedly severe blow in August when a wave of coronavirus infections across the country triggered new lockdowns and sent an official measure of non-manufacturing activity to a contraction area.

Now for today’s news and analysis.

Top news

Covid-19 Delta variant beats up China’s service sector

China’s official non-manufacturing purchasing managers’ index, which tracks activity in construction and services, slumped to 47.5 in August from 53.3 in the previous month, according to data released Tuesday by the National Bureau of Statistics. The value of 47.5 – which fell far short of what economists had forecast for a value comfortably above 50 – marks the measure’s first break into contracting territory since February 2020, at the height of the initial coronavirus explosion that led to the lockdown Hubei Province.

Derby’s Take: Funds rate is softening, adding to the specter of technical rate boosts

By Michael S. Derby

The effective key interest rate has been slipping since around mid-August after it was raised by the Fed at the beginning of summer following a technical rate hike. The key interest rate, which had been around 0.10% for most of the summer, fell to 0.9% on August 18 and again to 0.8% on Monday. If the key rate stays soft or softens and this shift proves to be sustained, the Fed may have to react by revoking the settings of its interest rate control toolkit. Continue reading.

Important developments around the world

Oil industry investigates damage after Hurricane Ida slam in Louisiana

Energy companies assessed the condition of refineries, pipelines, petrochemicals and offshore oil rigs along the central Gulf of Mexico on Monday, the day after Ida hit Louisiana as a powerful Category 4 hurricane.

Unfinished tractors and pickup trucks pile up as components become scarce

Manufacturers stack unfinished goods on factory floors and park incomplete vehicles in airport parking lots while waiting for missing parts, made scarce by supply chain problems that disrupt multiple industries.

New life and work choices enliven exurbs and bring new strains with them

Extra-urban areas have grown nearly twice as fast as domestic over the past decade, and there are signs that growth is accelerating as Americans prepare for a landscape where increased work from home means the need to commute decreased.

EU recommends stopping non-essential travel from the USA

The European Union recommended stopping non-essential travel from the US due to the increase in Covid-19 cases, diplomats said on Monday, ending a summer vacation break for American tourists.

Summary of the Financial Regulation

SEC chair warns against payment for order flow

Robinhood Markets Inc.’s shares plunged Monday after the chief of the Securities and Exchange Commission signaled he was ready to ban payments on the order flow, which makes up most of the online brokerage’s revenue.

Members Exchange urges regulators to fix stock prices for half a penny

Investors could see shares of Apple Inc. and Bank of America Corp. for $ 152.005 or $ 42.115 per share if regulators sign a proposal presented this week. Members Exchange, a startup exchange backed by major Wall Street firms, said in a proposal that the Securities and Exchange Commission should allow some heavily traded stocks to be valued in half-cent increments.

So far, direct listings have paid off for investors

Eyewear maker Warby Parker Inc. is the latest to file with the SEC for direct listing, demonstrating the persistence of the alternative path to public markets for companies that don’t need to raise money.

Foresight

Wednesday (all times ET)

9:30 p.m .: Bank of Japan’s Wakatabe speaks at a meeting with local leaders in Hiroshima

Thursday

8:30 a.m .: US Department of Commerce releases international trade data for July

research

Goldman Sachs says evictions threaten

Around 750,000 American households are now threatened with eviction from rental apartments in the wake of the latest political changes that protect the financially needy, Goldman Sachs said in a message to customers. The investment bank estimates that between 2.5 million and 3.5 million households are behind on rents and owe landlords up to $ 17 billion, while state aid to tenants is slow. “The strength of the housing and rental market suggests that landlords will try to evict tenants who are behind on rent unless they receive government support,” the note said. According to analysts at Goldman Sachs, this should not have a very negative impact on the economy. They say in the note that “Our literature research shows that an eviction episode of this magnitude is a small burden on consumption and employment growth.”

– Michael S. Derby

Basis points

Asking rents for homes rose nearly 13% year-to-date through July, the highest annual increase in five years, according to real estate data company Yardi Matrix.

US pending home sales declined for the second straight month in July, according to the National Association of Realtors, whose index of pending home sales fell 1.8% from June to 110.7. Pending home sales declined 8.5% year over year in July. (DJN)

Manufacturing output in Texas slowed in August, with the Dallas Fed’s Manufacturing Outlook Survey manufacturing index falling to 20.8 from July 31. The general business activity index, which rates general terms and conditions in the industry, fell from 27.3 to 9. (Dow Jones Newswires)

Aluminum forwards on the London Metal Exchange are up a third this year and prices are around 80% above their low in May 2020 when the pandemic restricted sales to the aerospace and transportation industries.

German inflation in August was 3.9% year-on-year, compared to 3.8% in July. (Dow Jones Newswires)

Business and household confidence in the euro zone fell slightly in August after hitting an all-time high in July, the European Commission said, noting that the economic sentiment indicator fell from 119.0 in July to 117.5. Economists polled by the Wall Street Journal expected an index of 118.0. (DJN)

Canada’s quarterly current account surplus rose to $ 3.58 billion or the equivalent of $ 2.84 billion in the second quarter as goods exports soared, Statistics Canada said. The data for the first quarter has been revised, Statistics Canada said, adding that the current account surplus for the first three months of the year was $ 1.82 billion, compared to an earlier estimate of $ 1.18 billion. (DJN)

(END) Dow Jones Newswires

Aug 31, 2021 9:35 AM ET (1:35 PM GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Elmira will cut back employer contribution charges for pensions, saving taxpayers cash, based on Mayor Mandell

(WETM) – New York State Comptroller Thomas P. DiNapoli announced reductions in employer contribution rates to the New York State and Local Retirement System (NYSLRS) for its two systems – the Employees’ Retirement System (ERS) and the Police and Fire Retirement System ( PFRS). The adjusted rates will have an impact on payments in the next public financial year 2022-23. In addition, DiNapoli reduced the assumed long-term return on fund investments from 6.8% to 5.9%.

“The strength of the fund gives us the ability to weather volatile markets. Our prudent strategy for long-term, stable returns helps ensure that our state’s pension fund remains one of the strongest and best-funded in the country, ”said DiNapoli. “While the reduction in employer contribution rates is welcome news for taxpayers, our investment decisions are always based on what is best for our 1.1 million working and retired members and their beneficiaries.”

Elmira City Mayor Dan Mandell said this was great news for the city, which will be paying five percent less to its employees’ pension fund. He also said there will be more than one percent savings on the police and fire department pension fund. Mandell believes this will save taxpayers money in the long run as these funds will be reallocated in the 2022 budget.

“It’s a pleasant surprise. We are happy about that, especially for the upcoming budget in 2022. We hope for a tax increase of zero percent. [Funds will redistribute to] all other needs like police and fire brigade or wherever we have a great need, ”continued Mandell.

The estimated average employer contribution rate for ERS will be reduced from 16.2% to 11.6% of wages. The estimated average employer contribution rate for PFRS will be reduced from 28.3% to 27% of wages. The fund’s actuary estimates that the expected employer contributions for February 1, 2023 total $ 4.4 billion, which is $ 1.5 billion less than the expected employer contributions for the same period for 2022 – the lowest since 2011 .

This is the fourth time DiNapoli has cut the assumed rate of return on the state pension fund as economic and demographic conditions have changed. In 2010 he lowered the rate from 8% to 7.5%, in 2015 to 7% and in 2019 to 6.8%.

According to the National Association of State Retirement Administrators, the average assumed return on state pension funds as of August 2021 is 7.0%. Of the 133 government pension plans listed, 34 had assumed a return of less than 7%. There are plans with a fiscal year ending on June 30, 2021, and many have already announced that they will cut their assumed yields further.

DiNapoli also announced that the coverage ratio of the state pension fund is 99.3%.

The annualized returns on the state pension fund are 11.17% over the last five years, 9.19% over 10 years, 7.65% over 20 years and 8.96% over 30 years.

Employer rates for NYSLRS are determined based on investment performance and actuarial assumptions recommended by the Pension Scheme Actuary and approved by DiNapoli. You will find a copy of the actuary’s report here.

In 2012, DiNapoli began giving employers access to a two-year forecast of their annual pension bill. Employers can use this forecast when building their budgets. The estimates of the required contributions vary by employer and depend on factors such as the pension plans they have adopted, salaries and the distribution of their employees among the six pension levels.

There are more than 3,000 employers participating in ERS and PFRS and more than 300 different combinations of retirement plans.

Payments under the new tariffs are due by February 1, 2023, but employers receive a discount if they pay by December 15, 2022.

Novartis CEO says Covid-related physician go to delays doubtless impacting most cancers prognosis charges

The health system continues to have lower diagnoses for certain diseases after treatment Coronavirus pandemic non-Covid patients kept away from the hospital early, Novartis CEO Vasant Narasimhan told CNBC on Wednesday.

“I think the signals that were sent that ultimately told patients to stay away from the emergency room, stay away from hospitals, sent a very strong message to patients not to get the care they needed,” Narasimhan continued “Closing bell.” “It may have been appropriate in the face of the public health emergency, but over time it creates a significant need for better treatments for these patients.”

Narasimhan, who joined Novartis in 2005, said that while trends are positive, there are still lower diagnoses in areas such as cardiovascular disease and oncology. For the latter, the diagnoses are still 30 to 40% lower than before Covid-19. Novartis makes cancer treatments.

Almost one in three Americans between the ages of 50 and 80 postponed a personal visit to the doctor in the past year due to concerns about exposure to Covid, according to a survey by the National Healthy Aging Survey based at the Institute for Health Policy and Innovation at the University of Michigan. The survey, conducted in January, found that 24% of people with cancer and 30% of people with heart disease had delayed at least one in-person visit.

“Cancer patients who are later diagnosed tend to have poorer outcomes, similar to those with cardiovascular disease who are not getting the therapies they need,” Narasimhan said. “That in turn puts a strain on health systems over time.”

As Covid cases increase in the US and around the world due to the highly transmissible Delta variant, Narasimhan hopes that lessons have been learned from the early stages of the health crisis. “I think it is critical now that this time around we make sure that patients can maintain their care even during the pandemic for the months ahead,” he said.

“We remain optimistic that despite various waves of Covid, health systems have learned that we need to maintain supplies of noncommunicable diseases, other chronic diseases,” he added. a syndemia of these other diseases, so to speak. “

On Wednesday, Novartis Analysts’ expectations exceeded for sales and earnings for the second quarter. Narasimhan said the Swiss drug maker saw a recovery in demand in many therapeutic areas, noting that the company saw sales growth of 9% and operating income growth of 13%.

Novartis is currently manufacturing the PfizerBioNTech Covid vaccines and help CureVac also in the manufacture of vaccines. Novartis also produces monoclonal antibodies to treat Covid for partner companies, “said Narasimhan.” We are doing a lot, but we are also ready to do more if necessary. “

5 vaccinated international locations with excessive Covid charges depend on China vaccines

Covid-19 vaccines from Chinese companies Sinopharm (left) and Sinovac arrived at Phnom Penh International Airport in Cambodia on June 8, 2021.

Sovannara | Xinhua News Agency | Getty Images

Among the countries with both high vaccination rates and high Covid-19 infection rates, most rely on vaccines made in China, a CNBC analysis shows.

The results come like the effectiveness of Chinese vaccines faces increasing scrutiny, aggravated by missing data to protect against the more transferable delta variant. CNBC found that weekly population-adjusted Covid cases have remained elevated in at least six of the world’s most heavily vaccinated countries – and five of them rely on vaccines from China.

As of July 6, CNBC identified 36 countries with more than 1,000 new confirmed cases per million people weekly based on numbers from Our world in data, which compiles information from sources such as the World Health Organization, governments and researchers at Oxford University. CNBC then identified countries among those 36 where more than 60% of the population had received at least one dose of the Covid vaccine.

There were six countries and five of them use Chinese vaccines as an essential part of their national vaccination programs: United Arab Emirates, Seychelles, Mongolia, Uruguay and Chile. The only country among them that doesn’t depend on Chinese vaccines is that United Kingdom.

The UK has now approved vaccines from Moderna, AstraZeneca-Oxford, Pfizer-BioNTech and Janssen. UK Covid cases have increased in recent weeks as the more transferable delta variant has spread there.

Sinopharm and Sinovac did not respond to CNBC requests for comment.

Several factors can lead to an increase in Covid cases in countries with high vaccination rates. Vaccines do not offer one hundred percent protection, so those who are vaccinated can still get infected. At the same time, new variants of the coronavirus might prove better at overcoming vaccines.

The best option for many countries

Still, countries shouldn’t stop using Covid-19 vaccines from China, epidemiologists say, especially when vaccine supplies are limited in low- and middle-income countries.

Many of the countries and territories that have approved Sinopharm and Sinovac vaccines are developing countries that cannot compete with wealthier countries for vaccines developed in the United States and Europe.

Ben Cowling, a professor in the University of Hong Kong’s School of Public Health, said countries could choose to use certain vaccines depending on their long-term goals.

“Some countries may accept low prevalence as long as there are relatively few serious cases and deaths from COVID-19,” Cowling, who heads the school’s epidemiology and biostatistics department, told CNBC in an email. “That should be achievable with a high coverage of all available vaccines.”

However, some countries avoid vaccines in China. Costa Rica last month refused to deliver vaccines Developed by Sinovac after it was completed is not effective enough.

WHO approval

The World Health Organization has approved Sinopharm and Sinovac vaccines for emergency use.

The effectiveness of the two Chinese vaccines is less than that of PfizerBioNTech and Modern, both of which have shown greater than 90% effectiveness.

Sinopharm’s vaccine is 79% effective against symptomatic Covid infections, the WHO says, but its effectiveness in certain groups – such as people over 60 – is not clear. The Effectiveness of Sinovac’s shot depending on the country in which the proceedings took place, from around 50% to over 80%.

Experts say that the results cannot be directly compared between clinical trials because each study is structured differently. However, a study in Hong Kong found “significantly higher” antibody levels in people who received the BioNTech injection compared to those who received the Sinovac vaccine This was reported by the South China Morning Post.

Some experts suggest that the technology behind the various Covid vaccines could explain differences in their effectiveness.

Sinopharm and Sinovac vaccines trigger an immune response by exposing the body to a weakened or “inactivated” virus – a best practice which has been used by vaccines for decades. Pfizer-BioNTech and Moderna based their vaccines on a technology called messenger RNA, which instructs the body to make viral proteins that trigger an immune response.

“Inactivated vaccines are easy to make and are known for their safety, but tend to have a weaker immune response compared to some other vaccine types,” said Michael Head, Senior Research Fellow on Global Health at the University of Southampton in the UK. wrote in an article published on the Conversation website.

Still, large phase three clinical trials showed that inactivated vaccines were “highly effective against serious illness and death” from Covid, Cowling said.

The professor told CNBC that the spikes in Covid cases in some countries using Chinese vaccines “are typically an increase in mild infections with very few severe cases in fully vaccinated people”.

‘Herd Immunity’

When vaccines are less effective, more people need to be vaccinated to achieve “herd immunity”. This happens when the virus stops being transmitted quickly because most people are immune to a vaccination or have recovered from an infection.

Some countries decided to try to achieve herd immunity at the beginning of the pandemic, but are not known to have succeeded. Some who said they would achieve herd immunity like Swedento be at the end affected by Covid much harder than neighboring countries that went the vaccination route.

A study by the Kirby Institute at the University of New South Wales Wales in Sydney claimed that in New South Wales, Australia, herd immunity could be achieved if 66% of the population were given vaccines with 90% effectiveness against all infections.

The percentage of the population who needs to be vaccinated increases to 86% when vaccine effectiveness is 70%, and herd immunity is not achievable when vaccine effectiveness is below 60%, the study showed.

Learn how to discover increased rates of interest in your cash amid inflation worries

Your emergency savings could depreciate in value due to one thing: inflation.

The costs are increasing from gasoline, which rose 20% during the pandemic, to bacon, which rose 18.7%.

Meanwhile, persistently low interest rates make it difficult to get a return on your cash and keep your money in a place that is readily available.

While all eyes are on policy makers to see what steps they can take to mitigate the situation, you may want to reassess where your money is invested.

Keep it safe

While it is frustrating to know that you are not getting a high return on your money, the important thing to remember is that you want those funds to be there when you need them.

“If cash is intended for an emergency fund or a short-term spending, it must be kept safe,” said Ken Tumin, Founder and Editor of DepositAccounts.com.

“Stocks or Bitcoin or any other type of investment are not suitable,” he said.

When it comes to keeping your emergency fund safe, there are usually a handful of options: certificates of deposit, checking accounts, savings and money market accounts, and savings bonds.

Each has potential advantages and disadvantages.

Certificates of deposit

In general, it is not a good time to invest in CDs, Tumin said, as their prices are currently at an all-time low. If you invest now, you could set this rate for the long term.

That could lead to regrets if interest rates rise in the next year or two.

Note also with CDs: hard prepayment penalties. However, around a dozen online banks now offer CDs that won’t penalize you for withdrawing your money early, Tumin said.

As a result, it can be worth poking around.

“The only reason to get a CD would be if you could get significantly more than you can get for a savings account,” said Tumin.

Online accounts

High yield checking accounts

According to Tumin, around 1,200 US banks and credit unions currently offer high-yielding premium checking accounts.

More than 150 of them offer accounts that pay at least 3% interest on deposits of up to $ 10,000.

That exceeds the average savings account, which usually just earns 0.14% interest.

As with other accounts, these often come with some conditions, such as: B. Regular use of debit cards.

However, there are other potential benefits such as no monthly fee or 2% cashback on purchases up to $ 200 per month.

Savings bonds

SelectStock | Getty Images

According to Tumin, investing in I-bonds offers a particular advantage in today’s environment, as these are inflation-indexed.

Unlike some other investments, I-bonds allow you to defer federal taxes on the money until you pay it back or until you reach their 30-year maturity.

There are some tradeoffs, however. One disadvantage is that you are limited in how much you can invest per year. Currently the limit is $ 10,000.

You also cannot redeem the money within the first 12 months of the issue date. If you withdraw the money within the first five years, you could lose interest for three months. However, that surpasses the prepayment penalties for some five-year CDs that can earn interest for at least six months, Tumin noted.

Do your due diligence

As the demand for higher interest rates increases, new startups are pushing into this market. It is therefore particularly important to know how your deposits are protected.

FDIC insurance generally covers up to $ 250,000 when your institution fails. But not all accounts and companies are covered.

For example, cryptocurrency savings accounts usually do not offer any protection.

“I would consider this a high risk and not a place for your money,” said Tumin.

Also, check to see if the company is working with one or more banks to hold your deposits.

“The most important thing is to stay with fintechs that only work with one bank,” said Tumin.

Some clients of a company called Beam Financial found this out the hard way when they struggled to access their deposits last year. The company that had a model that involved working with multiple banks ended up being closed by the Federal Trade Commission from the conduct of banking business.

Journey app provides skittish vacationers 60-day freeze on resort charges

Two views of the new Price Freeze function of the Hopper app, showing (left) a step in the search process and (right) a list of the active freeze.

funnel

After a year of lockdown and restricted travel, Americans want flexibility and freedom in planning their trips.

You got used to it during the Coronavirus pandemic, when travel companies struggled last spring and summer to adapt to both market and medical realities by introducing not only new health and safety protocols but also looser rebooking and cancellation policies.

Much of the changes are here to stay.

“Airlines and hotels still offer flexible booking options,” said travel advisor Mike Rubinstein, owner and director of UprouteMe in Los Angeles. “And even though airfares aren’t as incredibly cheap as they were a few months ago, there are still some great airfare deals – and fantastic hotel rates, too.”

To capitalize on this zeitgeist and help travelers secure some of these great hotel rates, the travel app Hopper launched its new “Hotel Price Freeze” feature on Wednesday. This feature allows users to secure the best rate at a specific hotel for up to 60 days.

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If the nightly rate increases during the freeze window, Hopper will cover up to $ 100 of the total cost of living to keep the rate lower. When prices go down, users pay the new lower tariff.

“Hotels don’t actually take the risk, Hopper takes it,” says Anwesha Bhattacharjee, Head of Hotel Fintech at Hopper. “When you get on Hopper, we guarantee you the price.”

Users make a deposit that is determined by an algorithm that takes into account the length of travel and the likelihood of price changes in a given market, Bhattacharjee said.

When you are ready to book your room at the frozen price, your deposit will be added to the booking price. (Despite the price freeze, an actual room is only then reserved.) If you change hotel, the block and the deposit can be transferred to a new booking.

Hopper estimates that Price Freeze users save an average of $ 17 per night and $ 43 per stay for an average stay of two to three nights. “But we’ve seen customers save $ 100 or in the high 80s,” she noted.

According to Hopper, based in Boston and Montreal, which has seen hotel searches increase by 130% since early 2021 and up 7% weekly, it looks like accommodation prices will only keep rising.

Thanks to the surge in demand for seasonal and domestic travel, room rates are expected to rise 17% to $ 165 nationwide by early July, Hopper said. “Users will always end up saving money by using Price Freeze,” said Bhattacharjee.

Price locks for online airfares have been in place for a number of years.

“When we entered the pandemic, we found that many of our customers were very afraid of not being able to commit to travel because they didn’t know which locations were going to close or open, or what the quarantine rules would be,” noted Bhattacharjee.

“A 14 or 21 day freeze wasn’t what they were looking for, so we offered a longer price freeze duration for just that,” she added. “We knew that our customers had the feeling that they wanted to travel, but couldn’t make up their minds yet and still needed some time.”

Price Freeze is especially helpful for large groups and families planning to travel together when multiple OKs are required on prices before committing to a hotel stay, Bhattacharjee said.

“That need is not going to go away,” pandemic or no pandemic, she stated. “Many of our customers also like the option to defer payment,” a side benefit of the Price Freeze functionality.

Hopper says it is the largest North American travel app with more than 15 million downloads and $ 1.2 billion in sales of travel and travel products from 2 million hotels, 300 airlines, and a selection of rental car partners.

Hopper is next developing features that will allow users to choose the bed configurations (e.g. double bed, queen, king) they want while freezing the rate, Bhattacharjee said. Price Freeze for Hotels is available for both the iOS and Android versions of Hopper and wherever the app runs.

Do not Waste Your Cash: Rising Resort Charges

Are you planning a summer trip? As demand increases, hotels raise prices. And in some cases this price increase can be done after booking.

Latisha Walker found a great deal on a Miami Beach hotel through agoda.com, just $ 411 for a three-night girls vacation. “It was booked. It was paid for. I got a confirmation number, ”said Walker.

Don’t Waste Your Money: Amazon Sidewalk

But when they got to Miami, Latisha got bad news. The hotel had canceled your reservation. “You said it was done by a third party. They said we canceled with that third party in January, “Walker said.

A hotel worker said the low price was a mistake as it was the spring break. “They said they canceled with them because prices were too cheap at the time because it was spring break,” Walker said.

Don’t waste your money: avoid furniture delays

Worst of all, Latisha says she didn’t know the price was going up until she got to the hotel. In the end, they had to pay three times the price for the same hotel. “$ 1,939.14,” said Walker.

Hotels across the country are raising prices back to pre-pandemic levels this year, according to CNBC. Travel experts say to protect yourself. Avoid making reservations with the words “Prices subject to change”. Save a copy of the voucher on your phone. And if you pay up front that’s a contract so make sure they keep it.

Don’t Waste Your Money: Fake Amazon Reviews

We contacted Agoda, a Singapore-based third-party travel website, and asked if they could refund at least part of what Latisha paid for the next room. Latisha says she’s booking the next woman’s getaway right at the hotel.

Rising airfares and lodge charges are making holidays dearer

Passengers wearing face masks as a preventive measure against the spread of Covid-19 are seen on an escalator at Orlando International Airport.

Paul Hennessy | LightRocket | Getty Images

The number of people returning is increasing. So are the prices.

Airfares and hotel prices rise as the highest number of travelers return, hit beaches, mountains, and visit friends and family after being cooped up for a year since the pandemic began, in the highest numbers.

Even the cost of a road trip is rising as gasoline prices hit their highest level since 2014.

Most of the rock bottom prices seen in the depths of the pandemic were in the rearview mirror in early spring. Now airlines and hotels are preparing for a busy summer, and a surge in bookings is driving prices even higher. On top of that, airlines don’t fly as much as they did before the pandemic, so travelers can expect full flights.

US domestic tariffs are up 9% since April 1, while international tariffs are up 17%, according to a study by Bernstein published this week. And the tariffs continue to rise.

“For domestic travel, the June line is closer to prepandemic levels than it was last year,” the report said.

Southwest Airlines This week leisure prices have approached 2019 levels.

Many travelers, like Diana Desierto, are eager to visit friends and family they haven’t seen in months.

The 40-year-old speech pathologist who lives in Baltimore hasn’t seen her parents, sister, brother-in-law, and nephews in Oakland, California, or her brother, sister-in-law, and a niece and nephew in Seattle since Christmas 2019.

“I have a 12-year-old nephew who had a crazy growth spurt,” she said. “The last time I saw him he was little. And [now] his voice is low. “

Desierto paid $ 344 for a one-way trip to Seattle and a connecting flight to Oakland in July. She used southwest frequent flyer miles to travel home. She said the tariff going west was roughly the same as the prices she had been used to for years, although she briefly thought that “maybe no one is flying and it would be cheaper”.

Another contribution to the increase in tariffs is that the airlines are reintroducing the strict rules for their more inflexible and cheapest tariffs, which are known as the basic economy, according to Samuel Engel, head of aviation practice at consulting firm ICF. Airline executives hope travelers will avoid such fares and buy standard bus tickets, which are more expensive.

Airlines lifted the rules of the pandemic to bring much-needed travelers on board as airlines suffered record losses.

“To loosen up the rules in basic economics, I’m basically giving you a $ 30 to $ 50 discount,” Engel said. “The purpose of Basic is not to sell Basic Economy, but to get you in the door and make it clear to you that you don’t want it.”

Another thing that drives up the cost of a trip is that more and more attractions like theme parks are reopening. Covid-era capacity restrictions and even masking guidelines (except during air, train and bus travel) will also be lifted.

Destinations that had less to offer than normal for about a year. Airline executives say beach, mountain, and other outdoor destinations have been and continue to be popular with travelers.

The price of a hotel in some popular travel destinations is even higher than it was before the pandemic.

Hotel prices in Cancun, Mexico were around $ 205 a night in early May, according to hotel data provider STR. That’s up from just $ 45 a year ago and $ 160 in 2019. Hawaii was about $ 269, down from $ 122 last year and $ 263 last year.

But with more reopening, other cities are recovering. Hotel prices in Orlando were $ 107 per night in early May, up from $ 62 a year earlier, but still below $ 133 in 2019.

Even New York City, which plans to reopen Broadway theaters in September and now has indoor dining, is recovering. At $ 123 a night last year, rooms jumped to $ 151 in early May – still well below the $ 269 nightly rate in 2019. STR estimates room rates in New York City will rise to an average of $ 163 per night from June through August.

Prices and hotel rates are still largely below 2019 levels as business travel and most international travel are largely absent. This will keep prices under control in the future as well.

Some travelers have other concerns besides price: crowds.

Tom Snitzer, 64, a retired real estate developer and currently a professional wildlife photographer from the Chicago suburb of Arlington Heights, said he recently flew to Atlanta to graduate his son’s medical school.

He said it took 40 minutes to reach airport security. The Transportation Security Administration is working hard to hire more screeners ahead of the busy summer travel season.

“Everyone is wrapped up like sardines,” he said.

Snitzer said his travel plans are flexible, but he plans to avoid major tourist attractions, including popular national parks.

“Everyone in the world has been cooped up,” he said. “The biggest trick is to avoid everyone else and find places off the grid so we don’t get trampled by tourists.”

– CNBCs Nate Rattner contributed to this story.

U.S. beginning and fertility charges dropped to a different document low in 2020, CDC says

A newborn is cuddled by its mother while it sleeps.

Tim Clayton | Corbis News | Getty Images

According to new data from the National Center for Health Statistics from the Centers for Disease Control and Prevention, birth and fertility rates in the US fell to another record low in 2020 as births fell to their lowest level since 1979 for the sixth consecutive year.

The number of births in the US declined 4% last year from 2019, double the average annual rate of 2% since 2014, the CDC said in preliminary birth data released on Wednesday. Overall and general fertility rates have also declined 4% since 2019, hitting record lows. The US birthrate is so low that the nation is “below replacement levels,” meaning more people die than are born every day, the CDC said.

While the agency did not directly attribute the overall decline in births to the Covid-19 One pandemic looked at the birth rates of women in New York who gave birth to babies outside the five boroughs during the peak of the outbreak in the United States

Women fled the city to give birth between March and November last year. Out-of-town births among NYC residents peaked more than 10% in both months in April and May – an increase of more than 70% year over year. Among white women, the proportion of out-of-town births in 2020 was 2.5 times higher than in 2019. Out-of-town births among black and Hispanic women were significantly lower, taking only two of the months of last year to.

Overall, births for Hispanic women decreased by 3% from 2019 to 2020, and for white and black women by 4%.

Teenage birth rates fell significantly, with births dropping 6% for 15-17 year olds and 7% for 18-19 year olds, both hitting record lows.

Birth rates among women aged 20 to 24 and 25 to 29 years declined 6% and 4%, respectively, to hit both lows. Birth rates in women aged 30 to 34 and 35 to 39 years old fell 4% and 2%, respectively, but did not hit record lows, according to CDC data.

The birth rates for women aged 40 and over decreased 44% from 2019, but the birth rates for women aged 45 and over remained unchanged. according to CDC.

The data was based on population estimates derived from the July 1 2010 census and the number of all birth records received and processed by the National Center for Health Statistics on February 11. The records represent nearly 100% of the registered births in 2020.

Some experts say that a decline in birth rates could represent a lack of vital resources such as housing and food in this population group, with correlations between increases in unemployment rates and decreases in birth rates. Still future economic impact A decline in birth rates is still being discussed.