- In real terms, wages and salaries rose 0.5%, while aggregate income fell by 1% due to the end of enhanced unemployment benefits.
- There’s money to spend. Americans have saved $4.5 trillion since March 2020, $2.6 trillion above projected trends.
- We still do not know how long inflation will persist.
—Curtis Dubay, Senior Economist, U.S. Chamber of Commerce
Top Of Mind
Discover & Deliver: Five Million Reasons to Support Vaccine Science
Yesterday, the world surpassed over five million deaths
from coronavirus. This somber milestone serves as a reminder of the importance of widespread vaccination.
- But here in the U.S., an additional 28 million Americans will soon be eligible to receive the vaccine.
What happened: Last Friday, the FDA authorized
a one-third dose of Pfizer vaccine for children ages 5 to 11, following data showing that the vaccine is 90.7% effective against symptomatic COVID-19.
- What’s more, today a CDC panel endorsed Pfizer’s vaccine for children. While both the CDC and the FDA acknowledge that children are at a lower risk of severe COVID-19, 691 American children have died from the disease.
Bottom line: These developments offer hope that fewer families will suffer pandemic loses—and that’s thanks, in large part, to the science.
— Kelly Anderson, Senior Director, Health and Drug Policy, Global Innovation Policy Center
Chamber Applauds Effort to Limit Methane
Today, at the Climate Change Conference–COP 26–in Glasgow, Scotland, the Biden administration announced a plan to cut methane emissions.
Why it matters: Curbing methane emissions is crucial to combatting climate change, and the business community is investing in technologies that will achieve this goal.
Our take: “The Chamber supports both direct regulation of methane
and increased voluntary reductions in a manner that allows for continued domestic energy production, technological innovation, and follows the appropriate process in the Clean Air Act,” said Christopher Guith, Senior Vice President at the Global Energy Institute.
- The Chamber will be representing the business community in Glasgow. Follow our work here.