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Mapped: Carbon Pricing Initiatives Around the World
Mapped: Carbon Pricing Initiatives Around the World
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Over the past two decades, governments around the world have responded to climate change through various initiatives and policies, with carbon pricing at the forefront.
A recent example is the Canadian province of Ontario’s Emissions Performance Standards program, first launched in 2022. The program sets annual carbon emissions limits for industrial facilities, with a fee on excess carbon emitted.
This graphic by Jonathan Letourneau maps 70 active carbon pricing initiatives around the world and highlights their global impact as seen in the 2022 World Bank report.
But first, let’s look at the different types of carbon pricing:
Carbon Tax vs. ETS
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Broadly speaking, carbon pricing gives emission generating organizations a choice between reducing their carbon emissions and paying for them.
The two typical initiatives used to offer this choice are carbon taxes and emissions trading systems (ETS):
Carbon tax: This tax or levy is directly applied to the production of carbon emissions or fuels that release greenhouse gases. This makes products or services that release substantial carbon more expensive than greener alternatives (or reducing emissions).Emissions Trading System (ETS): Also called the cap-and-trade system, ETS puts a cap on the total level of greenhouse gases a licensed industry can emit. Companies with low emissions can sell their unused emission allowance with larger emitters that have exceeded the cap.The World’s Carbon Pricing Initiatives
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As of the end of 2022, Europe was home to 24 of the 70 active carbon pricing initiatives in the world.
Europe’s position is not surprising given many of its countries have set ambitious carbon neutral goals. The region’s European Union Emissions Trading System (EU ETS) is the world’s largest carbon market, covering 1.8 billion tonnes of emissions annually.
Canada has also implemented numerous regional and national carbon pricing initiatives, with many provinces falling under both main types of carbon pricing. For example, carbon emissions in British Columbia—the first jurisdiction in North America to implement carbon pricing—are priced under both a carbon tax and an ETS.
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Charted: America’s Import Reliance of Key Minerals
Charted: America’s Import Reliance of Key Minerals
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This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on real assets and resource megatrends each week.
The push towards a more sustainable future requires various key minerals to build the infrastructure of the green economy. However, the U.S. is heavily reliant on nonfuel mineral imports causing potential vulnerabilities in the nation’s supply chains.
Specifically, the U.S. is 100% reliant on imports for at least 12 key minerals deemed critical by the government, with China being the primary import source for many of these along with many other critical minerals.
This graphic uses data from the U.S. Geological Survey (USGS) to visualize America’s import dependence for 30 different key nonfuel minerals along with the nation that the U.S. primarily imports each mineral from.
U.S. Import Reliance, by Mineral
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While the U.S. mines and processes a significant amount of minerals domestically, in 2022 imports still accounted for more than half of the country’s consumption of 51 nonfuel minerals. The USGS calculates a net import reliance as a percentage of apparent consumption, showing how much of U.S. demand for each mineral is met through imports.
Of the most important minerals deemed by the USGS, the U.S. was 95% or more reliant on imports for 13 different minerals, with China being the primary import source for more than half of these.
These include rare earths (a group of 17 nearly indistinguishable heavy metals with similar properties) which are essential in technology, high-powered magnets, electronics, and industry, along with natural graphite which is found in lithium-ion batteries.
These are all on the U.S. government’s critical mineral list which has a total of 50 minerals, and the U.S. is 50% or more import reliant for 43 of these minerals.
Some other minerals on the official list which the U.S. is 100% reliant on imports for are arsenic, fluorspar, indium, manganese, niobium, and tantalum, which are used in a variety of applications like the production of alloys and semiconductors along with the manufacturing of electronic components like LCD screens and capacitors.
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Ranked: Number of Agricultural Workers by Country
Ranked: Number of Agricultural Workers by Country
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Agriculture has long been the backbone of human civilization, providing sustenance and livelihood to billions of people across the globe.
As of 2021, an estimated 27% of the global workforce was employed in agriculture, though the sector represents only 4% of global GDP.
The graphic above uses 2019 employment and population data from the World Bank to rank the distribution of agricultural workers in the world’s most populated countries.
Asia and Africa Have the Most Agricultural Workers
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Being the most populous countries, India and China lead the ranking with 272 million and 229 million people employed in agriculture, respectively:
Though countries in Africa have fewer agricultural workers, they have a far greater share of agriculture in employment. Ethiopia (66%) and Tanzania (65%) had the highest share of agricultural workers amongst the most populated countries, with other low income and lower-middle income African countries close behind.
In fact, McKinsey estimates that more than 60% of sub-Saharan Africa’s entire population consists of smallholder farmers, with about 23% of sub-Saharan Africa’s GDP coming directly from agriculture.
In contrast, agriculture represents significantly less employment in high-income countries. The U.S. and Japan both have an estimated 3 million agricultural workers, accounting for only 3% and 4% of the total employed population, respectively.
In terms of gender balance, women on average represent 37% of all agricultural workers, with a majority share in just 20 countries within Africa and Asia.
Evolution of Agricultural Jobs Over Time
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Over the past century, agricultural workers have declined in number due to technological advances, urban migration, land use changes, and economic diversification.
However, they still represent a quarter of the global workforce and even with the modernization of agriculture, workers are still necessary to meet a growing demand.
For instance, a study in Bioscience has suggested that agricultural production will need to increase by at least 25% to meet the food demands of the world’s population by 2050.
The post Ranked: Number of Agricultural Workers by Country appeared first on Visual Capitalist.
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Ranked: The 15 Richest Multi-Generational Families in Asia
The 15 Richest Multi-Generational Families in Asia
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Today, Asia’s 15 richest families control over $400 billion in wealth.
Many family dynasties have shaped Asia’s economy—from energy conglomerates to banking empires. In many ways, this was supported by social capital and long-term planning often built into family business structures.
The above graphic uses data from Bloomberg to show the wealthiest families in Asia from a multi-generational perspective. Data is based on combined family wealth and does not include first generation founders, or single family heirs.
Ranking the Wealthiest Families
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Here are the region’s richest dynasties as of March 14, 2023.
Note: Values are subject to change with market fluctuations.
As seen in the table above, the Ambani family controls a $79 billion empire, the largest in Asia. At the helm is Mukesh Ambani, Asia’s richest person, who lives with his family in a 27-story skyscraper in Mumbai.
For three generations, the Ambanis have run a vast network of energy, retail, and telecom firms in India under Reliance Industries, the largest company in India.
Indonesia’s Hartono family is second on the list with a $39 billion fortune. After inheriting the Djarum cigarette company from their father, brothers Budi and Michael Hartono invested in Bank Central Asia. It is Indonesia’s largest private bank with over $6 billion in revenue in 2022.
The Kwok family, ranked third at $35 billion, control one of Hong Kong’s largest property development companies, covering mainly commercial and residential real estate. They are one of four families in the top 15 from Hong Kong, the largest of any one country or territory.
Driving Higher Returns
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Family-run businesses play a major role in Asia beyond establishing family dynasties.
Across a global dataset of 1,000 family-run publicly listed companies from Credit Suisse, 517 were from the Asia-Pacific region in 2022. Overall, family-run companies were shown to have higher innovative output due to longer tenures generating stronger social capital, combined with more efficient operating models.
The post Ranked: The 15 Richest Multi-Generational Families in Asia appeared first on Visual Capitalist.
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The History of the FIFA Women’s World Cup
FIFA Women’s World Cup Timeline: 1991‒2019
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The ninth edition of the FIFA Women’s World Cup that kicked off this summer in Australia and New Zealand is expected to break records.
For the first time, 32 teams are competing at the premier international event for women’s soccer, up from 24 teams in the two prior editions. And according to FIFA, the tournament is already on pace to become the most attended women’s sports event in history, with over a million tickets already sold.
Eight countries are making their debut in the tournament after qualifying for the first time:
Philippines Ireland Zambia Haiti Vietnam Portugal Panama MoroccoHow has the tournament grown?
This graphic created by JVDW Designs explores the timeline of this tournament, from its origins with only 12 teams in 1991 to expansions during the 21st century.
The Origins of Women’s Soccer
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Though there are reports of women’s soccer matches as early as the 1700s, the sport started to grow in popularity in 1895 thanks to the British Ladies’ Football Club (BLFC), one of the first women’s soccer clubs.
Despite receiving no support from soccer associations in the UK, the club held its inaugural match in London and then went on tour. They received a lot of attention in the press, both due to the sport itself and debates in Victorian England over women’s rights.
After gaining in popularity over the next decades and even drawing bigger crowds than men’s matches, England’s governing soccer association retaliated by banning women’s soccer in 1921. The stated reason was that “the game of football is quite unsuitable for females and ought not to be encouraged.”
Other countries followed suit over time, sidelining women’s soccer from France to Brazil. It wasn’t until the success of the 1966 Men’s World Cup in England, which set records for attendance and was the first to be broadcast to other continents, that England and then other countries in Europe re-established women’s soccer due to increased interest.
The FIFA Women’s World Cup
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After multiple international tournaments in the 1970s and 1980s, FIFA finally organized the inaugural FIFA Women’s World Cup in China in 1991.
At the outset, the athletes participating in the Women’s World Cup were not treated as professionals.
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3 Reasons to Explore International Stocks Now
3 Reasons to Explore International Stocks Now
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International stocks have been outperforming their U.S. counterparts recently, based on a one-year rolling return. Could they be due for a cyclical comeback?
In this graphic from New York Life Investments, we explore why current economic conditions make it more likely that international investments could boost a portfolio’s return.
1. Diversification Amid an Uncertain Economy
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The U.S. economic outlook is uncertain, and this could lead to lower returns in U.S. markets.
In fact, investment firms predict that U.S. stocks could see an annualized return of 6.7% over the next 10 years, compared to 9.4% for developed market stocks. This is based on an average of capital market assumptions from six investment firms published at the end of 2022.
Historically, international stocks have generated better returns when U.S. stocks have seen poor long-term performance. As seen in the below table, in the wake of the global financial crisis, international equities’ 10-year returns were 17% higher than U.S. equities on average.
Adding exposure to international investments may help boost return potential when U.S. equities are underperforming on a long-term basis.
2. Valuations are at Historical Lows
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International equities are currently trading at 20-year lows relative to U.S. stocks, which could present attractive opportunities.
In fact, the relative P/E ratio for international equities is 30% below the long-term average.
Importantly, some surveyed asset managers believe these lower valuations will fuel the outperformance of international investments over the next decade.
3. U.S. Dollar Dropping From September 2022 Peak
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During six of the last seven periods of a weakening U.S. dollar, international equities have outperformed U.S. stocks.
If the U.S. dollar continues to weaken, history indicates that international investments could deliver higher returns.
Expanding to International Stocks
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Current economic conditions signal that now may be a good time for investors to consider international investments.
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Which Countries Are Most Reliant on Coal?
Which Countries Are Most Reliant on Coal?
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This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on real assets and resource megatrends each week.
Global energy policies and discussions in recent years have been focused on the importance of decarbonizing the energy system in the transition to net zero.
However, despite efforts to reduce carbon emissions, fossil fuels still account for more than 80% of primary energy use globally—and coal, the world’s most affordable energy fuel, is also the largest source of energy-related CO2 emissions.
The graphic above uses data from the Statistical Review of World Energy to show how much select countries rely on fossil fuels, particularly coal.
Coal’s Importance in Emerging Economies
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Coal is the largest source of electricity generation and the primary fuel for iron, steel, and cement production, making it central to climate and energy discussions.
The fossil fuel continues to be an affordable and abundant source of energy, particularly in emerging economies where demand is expanding rapidly.
South Africa is the world’s most coal-dependent nation featured in the statistical review, with coal accounting for 69% of its primary energy consumption in 2022.
Percentages may not add to 100 due to rounding. Select countries shown above.
In 2022, global consumption of coal surpassed 8 billion tonnes in a single year for the first time, with China and India being the two biggest consumers in absolute terms.
China’s power sector alone accounts for one-third of global coal consumption. Meanwhile, with a growth rate of 6% annually, India has doubled its coal consumption since 2007—and is expected to lead the growth in coal consumption for years to come.
Coal Demand in Developed Countries
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U.S. consumption of coal has dropped almost 50% compared to the early 2010s.
With initiatives like the Inflation Reduction Act (IRA), which includes nearly $370 billion to accelerate the U.S.’s energy transition, coal consumption is expected to remain on a downward trajectory in the United States.
Source: BP Energy Outlook 2023. The forecast is based on BP’s scenario for global net-zero emissions by 2050.
The same movement is seen in the European Union.
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Ranked: The Top 100 Brands by Value in 2023
Ranked: The Top 100 Brands by Value in 2023
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Brand value can be a critical part of any company’s intangible assets.
These kind of non-physical assets, such as patents and brand names, are having an increasing influence on a company’s overall value. A 2020 analysis found that intangibles made up 90% of the S&P 500’s market value, an increase of 22 percentage points since 1995.
This graphic shows the world’s 100 most valuable brands in 2023 based on an annual ranking from Brand Finance, illustrating the role brand equity plays in a company’s market position.
The Top 100 Companies, by Brand Value
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Brand Finance examined over 5,000 companies (and in cases of groups like Alphabet and Meta, their subsidiary brands) across 38 countries.
Broadly speaking, a brand’s value represents the allocation of company earnings that are linked to the brand. More details on the methodology are found at the end of this article.
Here are the most valuable brands in 2023:
Amazon ranks number one globally with its brand valued at $299 billion. As a market leader in online retail, it has strong brand loyalty in its B2C segment which generates its largest share of revenue, and is a key player in cloud services for its B2B platforms.
Apple is in close second with a $298 billion brand. It’s important to note that both tech giants brands fell in value from last year, as supply chain disruptions, labor market constraints, and slower forecasted revenue impacted their brands.
Other big tech brands Google (#3) and Microsoft (#4) were next in the ranking. Korean conglomerate Samsung (#6) was the highest-ranking firm based outside of America.
Brand Value: Leading Sectors in 2023
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Looking at brand value based on sector, we can see that tech continues to dominate. The sector breakdown below uses data from the top 500 brands covered by Brand Finance.
Overall, the top tech brands were worth a combined $891 billion largely thanks to the outsized influence of Apple, Microsoft, and Samsung.
After retail and media, the banking sector still held significant brand sway at $467 billion. Automobiles rounded out the top five sectors at $397 billion, led by companies like Tesla and Mercedes-Benz.
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Ranked: The Top Economies in the World (1980‒2075)
According to a report from Goldman Sachs, the balance of global economic power is expected to shift dramatically in the coming decades. By 2050, Asia is projected to have a larger share of global GDP, with Indonesia becoming the fourth-largest economy. In 2075, Nigeria, Pakistan, and Egypt are expected to break into the top 10 economies, while European economies slip further down the rankings. China, India, and the US are predicted to have similar GDPs by 2075, suggesting equal economic power and the potential to shape the global landscape.
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How Much the Most Followed Instagram Accounts Earn on Posts
According to data from HopperHQ, Cristiano Ronaldo, the most followed person on Instagram, could charge an estimated $2.4 million per sponsored post in 2022. Following him is Kylie Jenner, who could charge $1.8 million per sponsored post. The most commonly followed celebrities in the top 20 are musicians, such as Ariana Grande, Beyoncé, and Taylor Swift, who accounted for 45% of the most followed accounts. Interestingly, Katy Perry was found to earn more per follower than all of the top 20 accounts, despite having fewer followers than most of them.
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How Do Chinese Citizens Feel About Other Countries?
Chinese sentiment towards other countries has been significantly impacted by tensions over Taiwan, the COVID-19 pandemic, trade, and the war in Ukraine, according to a survey by the Center for International Security and Strategy at Tsinghua University. The survey found that just under 60% of respondents held Russia in a favorable view, contrasting with the mere 12% who viewed the U.S. positively. Japan ranked just below the U.S. in terms of overall unfavorability, while Indian received the lowest favorability rating at just 8%.
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What’s New on VC+ in July
Visual Capitalist is introducing a new program called VC+ that provides exclusive access to visual insights for leaders at Fortune 500 companies. VC+ members will receive a newsletter called The Trendline twice a week, as well as monthly special dispatches and access to the VC+ Archive. This month, VC+ members can expect special dispatches on cartography and a Q&A with the VC team about the development of their upcoming app. In addition, members will receive the premium newsletter, The Trendline, which highlights the best visualizations and reports each week.
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Visualized: The U.S. $20 Trillion Economy by State
Every state in the U.S. plays a crucial role in the country's economy. California has the largest state economy with a real GDP of $2.9 trillion. New York and Texas are also major contributors to the nation's economy. The median GDP per state was $217 billion in 2022. The Great Lakes region and the Mideast region have GDPs higher than the median, while states in the Plains region and lower-population states generally have lower GDPs.
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Ranked: The World’s Most Valuable Football Club Brands
Brand Finance, a brand valuation and strategy consultancy, has compiled a list of the world's 50 most valuable football club brands. Manchester City FC of the English Premier League takes the top spot with a brand value of $1.56 billion. Real Madrid CF of Spain is in second place with a brand value just above $1.5 billion, followed by FC Barcelona with a brand value of $1.4 billion. The UK is home to the most high-valued football club brands (18), followed by Germany (10) and Spain (9).
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Visualized: The Rise of the LFP Battery
The article discusses the growing market for lithium iron phosphate (LFP) batteries, which are becoming popular in the electric vehicle (EV) industry. LFP batteries are favored for their safety, longevity, cost-effectiveness, and environmental sustainability. The global LFP battery market was valued at $12.5 billion in 2022 and is projected to reach $52.7 billion by 2030, with a compound annual growth rate of 19.7%. LFP batteries currently hold a 30% market share in the EV industry, a significant increase from 6% in 2020.
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Visualizing the World’s Space Debris by Country Responsible
Space Debris: The Earth’s Orbiting Threat
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Earlier in July, a suspicious object washed up on a remote beach in Western Australia. This chunk of golden metal was reported to be a piece of space debris that found its way back to Earth.
And it is not the only one. Today, thousands of defunct satellites, spent rocket stages, metal shards from collisions, and other remnants of human space exploration are orbiting the Earth at breakneck speeds.
In this graphic, Preyash Shah uses tracking data from the Space-Track.org, maintained by the U.S. Space Force, to help visualize just how much debris is currently orbiting the Earth, while identifying the biggest contributors of this celestial clutter.
Note: Many spent rocket bodies are still actively tracked and controlled by their launch authorities, and the source tracks these separately. Space debris includes spent rocket bodies that are defunct and uncontrolled.
Ranked: Countries Responsible for the Most Space Debris
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According to the data, there are roughly 14,000 small, medium, and large debris objects floating about in low Earth orbit as of May 2023. And this is not counting the millions of tiny debris fragments that are too small to be tracked.
Although space debris is a global problem, certain countries have played a larger role in contributing to the clutter. In the 1950s, the U.S. and Russia (formerly USSR) led the space race with the highest number of launched space objects. In the 1970s, they were joined by China, and objects from all three countries account for the vast majority of today’s space debris:
*China-Brazil space debris originates from various cooperational space programs over the years
The debris count of Russia—including former launches by the Soviet Union—currently stands at 4,521. But the U.S. and China are not far behind with more than 4,000 each. And though many of these are accumulated over time, thousands of debris are created in single catastrophic moments.
China’s anti-satellite test in 2007 destroyed its own weather satellite, creating 3,500 space debris pieces. Likewise, the 2009 collision between inactive Russian satellite Cosmos-2251 and operational U.S. communications satellite Iridium 33 created over 2,000 pieces of debris.
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Mapped: Unemployed Workers vs. Job Openings, by U.S. State
Mapped: Unemployed Workers vs. Job Openings, by U.S. State
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In the United States, there were about 75 workers available for every 100 job openings as of July 2023. This means there is a significant gap between labor and jobs available, but also many opportunities present in some states for potential job seekers.
This map, using data from the U.S. Chamber of Commerce, showcases the number of available workers per 100 job openings in each U.S. state.
Note: Available workers are unemployed workers who are in the labor force but do not have a job, have looked for one in the previous four weeks, and are currently able and available to work. Job openings are simply all unfulfilled positions that offer available work.
Workers and Job Openings by State
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The below table lists out the number of unemployed workers per 100 jobs in every state.
Higher ratios, such as 110 workers per 100 job openings, mean there is more competition for each job opening in that state. Lower ratios suggest that it is harder to find workers in a given state.
While states like New Jersey and California have more workers that they know what to do with, states like North Dakota have a 0.35 ratio of people to jobs, potentially tipping the balance of power to job seekers.
Over the last three years, job openings have increased the most in the state of Georgia, where there were only 0.57 people available for every open role in July. But despite growth in open positions, unemployment has hardly changed over the last year, wavering around 3%.
The Reason for the Gap
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“If every unemployed person in the country found a job, we would still have 4 million open jobs.”– U.S. Chamber of Commerce
According to the U.S. Chamber of Commerce, the main driver of the current labor shortage was the COVID-19 pandemic, forcing more than 100,000 businesses to close temporarily and resulting in millions losing their jobs.
Subsequent government support for those who lost work and other subsidies made it easier for people to stay home and out of the workforce. A Chamber of Commerce survey found that 1-in-5 people have changed their work style since the pandemic, with 17% having retired, 19% having transitioned to a homemaker role, and another 14% working only part time.
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Ranked: The U.S. Cities with the Most Vacant Offices
Ranked: The U.S. Cities with the Most Vacant Offices
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For many across the U.S., hour-long transit rides and traffic jams to work have been replaced by roll-out-of-bed commutes and stand-up desks at home, leaving vacant offices behind.
Long story short, more and more offices in major U.S. cities are empty. At the end of March 2023, the national average vacancy rate of U.S. offices had climbed as high as 18.6%.
So how have different cities in the U.S. been impacted? This ranking uses data out of fDi Intelligence to rank the top 10 cities that have seen the biggest increases in office vacancy rates from Q4’2019 to Q1’2023.
No Vacancy
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It is anticipated that by 2030, over 300 million square feet of U.S. office spaces will be obsolete.
According to Pew Research Center, around 35% of U.S. workers who can work from home in 2023 are already doing so all the time. In short, unless trends begin to reverse, offices in many cities will stay empty or continue getting emptier.
Here’s a closer look at the cities with the fastest growing vacancy rates in percentage points (p.p.) terms since just before the COVID-19 pandemic:
San Francisco has been hardest hit, with vacancy rates climbing by 19.8 p.p. in just over three years. Meanwhile, New York City has added over 16.8 million square feet, equivalent to 293 football fields, of new office space since Q4’2019 between its three most vacant neighborhoods.
However, not all of the cities with the most vacant offices are huge metropolises. Urban areas like Austin, Columbus, and Raleigh-Durham have also seen massive increases in their office vacancies, but their increasing rates may be blamed more on new construction and oversupply than to falling demand.
The Office Real Estate Market
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At the national level, the supply of new office real estate has been dropping steadily since Q1’2022, down by a whopping 67% year-over-year.
Overall, it looks like U.S. office buildings are not as bustling as they once were, but there still may be opportunities for the office real estate market in growing cities.
The post Ranked: The U.S. Cities with the Most Vacant Offices appeared first on Visual Capitalist.
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The Top Performing S&P 500 Sectors Over the Business Cycle
The Top Performing S&P 500 Sectors Over the Business Cycle
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This was originally posted on Advisor Channel. Sign up to the free mailing list to get beautiful visualizations on financial markets that help advisors and their clients.
The business cycle fluctuates over time, from the highs of an expansion to the lows of a recession, and each phase impacts the performance of S&P 500 sectors differently.
And though affected sectors have different levels of average performance, any given period may see the outperformance of certain sectors due to external factors, such as technological advancements or high-impact global events (i.e. global pandemics, international conflicts, etc.)
The above graphic uses data from SPDR Americas Research to show the top performing sectors through the business cycle over almost 70 years.
The Business Cycle: Methodology
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The dataset is based on the Conference Board’s Leading Economic Index, which assesses U.S. economic activity. This index includes 10 economic indicators that reveal typical turning points in the business cycle covering employment, consumer expectations, and financial conditions.
Overall from December 1, 1960 to November 30, 2019, the dataset covers:
7 recessions7 recoveries12 expansions11 slowdownsReturns are shown for all of the S&P 500 sectors with the exception of the communication services sector. This is because the sector was created relatively recently in 2018 and comprises previous technology, consumer discretionary, and telecommunication stocks already covered in the dataset.
1. Recession
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Broadly speaking, a recession is a period of temporary economic decline characterized by two successive quarters of falling GDP.
During this period, consumer staples was the top performing S&P 500 sector, and the only one that has averaged a positive return. Utilities and health care, traditionally defensive sectors, followed next in line. Together, these sectors averaged 10% higher returns than the overall market during six of the seven recessions.
Real estate has been the worst performer during recessions, given its high sensitivity to discretionary spending as both household income and business activity tend to decline.
2.
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Innovation in Virology: Vaccines and Antivirals
Innovation in Virology: Vaccines and Antivirals
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The COVID-19 pandemic affected millions of people worldwide and brought renewed focus to virology—the study of viruses.
However, impact made by viruses extends far beyond the SARS-CoV-2 virus that causes COVID-19. There are 24 viruses that have each infected more than 80 million people globally, from hepatitis to influenza.
In this graphic from MSCI, we uncover innovation in vaccines and antivirals and the related market opportunities.
What is a Virus?
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A virus is a microscopic infectious agent that replicates within living cells. It may cause disease in its host. New viruses can emerge at any time as a result of mutation, or when viruses transfer from animals to humans.
Through virology, scientists are continuously finding new ways to fight against infectious diseases. Two main types of anti-infectives are available: vaccines and antivirals.
Rapid Innovation in Vaccines
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Vaccines are substances designed to prevent people from getting infected with a disease or experiencing serious symptoms.
The number of vaccines has increased dramatically over the last three decades. From 2020 to 2021 alone, the number of approved vaccines or clinical candidates jumped by 13%.
Not only that, it’s possible to have shorter approval timelines. COVID-19 vaccines were approved within 11 months, much more quickly than the 2000-2020 average of 10 years.
In the time between an outbreak and vaccine development, antivirals can play a vital role.
Antivirals: The Second Line of Defense in Virology
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Antivirals are drugs that slow or prevent the growth of a virus and treat disease symptoms. They are especially important tools for diseases that do not have an associated vaccine.
In 2021, there were nearly six times as many approved antivirals as there were in 1995. Not only that, antiviral uses have grown to include the potential prevention and treatment of HIV, COVID-19, and a number of other diseases.
Innovation in virology—and the potential for future developments—is leading to a growing industry.
Expanding Market Opportunities
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With opportunities growing and approval times shortening, more companies are entering the market.
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The Fastest Growing and Declining Industries in the U.S. (2021-2031P)
U.S. Employment Trends by Industry (2021–2031)
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The labor force is always shifting, responding to technological or societal changes.
For that reason, keeping an eye on the fastest growing industries can help workers and businesses stay on top of the crucial trends driving employment.
Today, we look through projections from the U.S. Bureau of Labor Statistics (BLS) on the fastest growing industries, as well as those that are the fastest declining, by percentage employment change between 2021 and 2031.
Ranked: Fastest Growing Industries By Employment Change
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Event Promoters, Agents, and Managers top the list of fastest growing industries, with an impressive predicted growth of 39%, employing over 180,000 workers by 2031.
Amusement Parks and Arcades follows close behind, with an expected 38% increase—adding over 60,000 new employees—in the same time period. Ranked third, the Performing Arts industry will start the next decade with around a 100,000-strong workforce, up 35% from 2021.
Below is the full list of BLS’ projected fastest growing industries, ranked by percent change in employment, between 2021–2031.
Note: Services & Other sector includes Information, Education and State & Local Government industries.All of the top three industries belong to the Leisure and Hospitality sector, which accounts for seven of the 20 fastest growing industries. This outsized performance reflects recovery more than pure growth, as the BLS notes that the Leisure and Hospitality sector was unduly affected by the COVID-19 pandemic, giving it a lower-than-usual baseline in 2021.
Ranked fourth by employment change percentage is Individual and Family Services, though it is actually expected to see the largest growth in total employment terms, adding 850,000 new workers by the end of the decade. It is one of three industries in the Health Care and Social Assistance sector with large projected growth, thanks to an increased need for care service due to an aging American population.
Not to be missed is Computer Systems Design, projected to grow by 20% in employment thanks to growing demand for computing infrastructure and IT security.
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Mapped: Global Livestock Distribution and Density
Mapped: Global Livestock Distribution and Density
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Combined together, meat, dairy, and eggs make up nearly 18% of the average person’s diet.
But in order for these meat and animal products to reach consumers, a vast global livestock industry—one supporting the livelihoods of 1.3 billion people globally—operates in fields and farms largely unseen from major cities.
So where are the various types of livestock concentrated in the world? And how do national consumption habits influence animal husbandry?
These maps from Adam Symington help to answer these questions, using the Gridded Livestock of the World database from the UN Food and Agriculture Organization (FAO), which models livestock densities from 2010 around the world.
Chicken, Beef, and Pork Livestock Density
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As a starting point, it’s worth noting that the above map of all livestock might seem reminiscent to a human population density map.
Though there is definite correlation, especially when it comes to natural obstacles for both humans and livestock like deserts, forests, and mountain ranges, the concentration of livestock spreads far further than the densest human cities.
We dive into each category of livestock below.
### Chicken Livestock Density
The UN FAO estimates that the world produced more than 121 million tonnes of chicken meat in 2021, making it the world’s most harvested meat. Chicken eggs are also estimated to account for 93% of the world’s 86 million tonnes of poultry eggs.
These numbers and the map below help illustrate the sheer number of chickens needed to support the world’s appetite for chicken goods.
Just by glancing at the heatmap map of chicken distribution, two things stand out clearly. First is how ubiquitous chickens are, with a high density of chicken livestock in almost all of the world’s populated regions.
But the map also gives us insight into where most farms are located. In the U.S. for example, Southern states including Georgia, North Carolina, Alabama, Mississippi, and Arkansas are major chicken producers. Likewise in countries like Brazil and China, the chicken industry can be seen continuing inland far beyond the more populated coastal regions.
### Pig Livestock Density
Shifting attention to pig livestock, we see densities begin to concentrate in a few specific regions.
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