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New Digital Advancement Municipal Index shows the importance of digital access for U.S. cities’ prosperity

New Digital Advancement Municipal Index shows the importance of digital access for U.S. cities’ prosperity
PR Newswire
WASHINGTON, May 18, 2022

The Digital Advancement Municipal Index uses 16 key indicators to profile U.S. cities’ prosperity in the…

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New Digital Advancement Municipal Index shows the importance of digital access for U.S. cities' prosperity

PR Newswire

  • The Digital Advancement Municipal Index uses 16 key indicators to profile U.S. cities' prosperity in the digital economy.
  • The index provides a resource for cities and states to uncover opportunities for targeted action as they prepare to respond to historic federal investments in broadband infrastructure and digital equity.
  • The index shows that while digital access and adoption are foundations for a vibrant city, they work jointly with other factors to improve quality of life.

WASHINGTON, May 18, 2022 /PRNewswire/ -- Today, Centri Tech Foundation launched the Digital Advancement Municipal Index (Muni Index), which uses 16 indicators from four categories – technology, socioeconomics, education, and housing – to capture and compare a city's overall prosperity and digital equity metrics across 308 U.S. cities with populations over 100,000 people.

Digital Advancement Municipal Index tool shows the impact of digital infrastructure on U.S. cities' overall prosperity

The interactive digital tool offers city leaders seeking to achieve digital advancement a clearer perspective on the greatest opportunities to drive impact in their communities.

"The Digital Advancement Municipal Index is an excellent resource for cities across the country," said Juliet Fink-Yates, the digital inclusion manager for the City of Philadelphia's Office of Innovation and Technology. "Philadelphia has made great strides to increase digital equity, and we're building on that progress with a 5-year plan to expand digital access across every neighborhood in the city. This index is a great tool to help us get there."

To measure technological advancement in each city, the Muni Index employs four metrics: average download speeds for households in a zip code or county, share of households with a desktop/laptop computer, share of households with broadband subscriptions, and percent of households with only a cellular plan and no other subscription. But access to technology alone does not automatically have a positive impact on a city's score; the extent to which digital inequities persist also matters. For example, the share of households with "cell only" access has a much greater negative impact on a city's score than greater speeds have a positive impact.

"Cities bring different assets to the table in fostering people's capacity to use digital tools to improve their lives. This index shines a light on cities' relative strengths and weaknesses as they embark on improving constituents' digital readiness. Users will not only understand levels of tech adoption, but also how they interact with other social challenges, such as housing affordability and a history of residential segregation," said Dr. John B. Horrigan, senior fellow at the Benton Institute for Broadband & Society and designer of the index.

The Muni Index is based on the premise that expansion in the availability, affordability, adoption, and quality of digital tools is essential to building a strong foundation for a vibrant and growing city. Yet digital access alone will not lead to better outcomes. The Muni Index demonstrates that how cities invest in technology works jointly alongside other factors that influence quality of life. It is this leverage of technology toward prosperity that defines Digital Advancement.

"Digital advancement aims to promote a genuinely inclusive digital economy, of which the impacts can be measured well beyond technology metrics. Access affects all facets of life today, from healthcare to education," said Laura Mueller-Soppart, program director at Centri Tech Foundation and co-designer of the index.

The insights drawn from the Muni Index, which is based on publicly available data sources such as the U.S. Census Bureau's American Community Survey, the Federal Reserve Bank of Chicago, and Microsoft broadband usage data, invite users to explore the relationships between a range of factors. For example, ensuring children have health insurance has a strong impact on a city's index score. Furthermore, cities with lower rates of residential segregation and a higher share of foreign-born residents have significantly higher-than-average scores.

By design, all indicators chosen for the index impact a city's overall score and none of the indicators are weighted. The mission of the Muni Index is to offer decision-makers a tool that helps shape holistic strategies that can deliver the greatest positive impact for city residents and regional neighbors.

"As the historic federal investments in broadband infrastructure and digital equity begin to open up, we're pleased to introduce the Muni Index as a resource for strategic planning," said Marta Urquilla, president of Centri Tech Foundation. "Cities and local coalitions have been working to address digital access, many long before the pandemic, and require added investment to expand their efforts. States are eager to collect data and develop competitive plans to attract federal dollars. The index offers a tool to help leaders maximize this once-in-a-lifetime investment, recognizing that digital advancement is essential to our shared prosperity."

Centri Tech Foundation's aim for the Muni Index is to leverage actionable data in service of its mission to promote an inclusive digital economy and achieve a future where everyone can fulfill their aspirations and thrive. The index is intended to facilitate the convening of stakeholders in building this future and set a baseline by which to study and measure progress. All the data that powers the tool is available for download to encourage research exercises to inform digital equity strategies throughout the U.S..

The Digital Advancement Municipal Index is an ongoing effort that is updated annually, as data sources permit. For more information and to provide feedback, visit www.digitaladvancement.org.

Methodology (2016-2019):
The Digital Advancement Municipal Index was developed using data from the American Community Survey and other sources to capture characteristics of 308 of the largest U.S. cities. The index is made up of 16 indicators, 4 each from the following categories: Technology, Socioeconomics, Education, and Housing. The mean of each indicator is normalized to 100. The category scores are composed by taking the mean of the four indicators within each category. A city's total Digital Advancement score is composed by taking the mean of all four of its category scores.

For the full methodology, visit www.digitaladvancement.org.

About Centri Tech Foundation
Centri Tech Foundation (CTF), along with a network of community development partners, seeks to connect low-income people to high-quality connectivity in the home and to resources that improve economic, health and livelihood outcomes in the digital economy. We believe digital advancement is a civil right. To achieve a sustainable future, one where everyone can fulfill their aspirations and thrive, requires an inclusive digital economy. Learn more at centritechfdn.org and follow @centritechfdn on social media.

About John B. Horrigan:
John B. Horrigan, PhD, is Senior Fellow at the Benton Institute for Broadband and Society, with a focus on technology adoption and digital inclusion. Dr. Horrigan has also been a senior advisor to the Urban Libraries Council and a senior fellow to the Technology Policy Institute. Additionally, he has served as an Associate Director for Research at the Pew Research Center, where he focused on libraries and their impact on communities, as well as technology adoption patterns and open government data. During the Obama Administration, Dr. Horrigan served on the leadership team at the Federal Communications Commission for the development of the National Broadband Plan.

Contact: Connie Jones, (850) 519-2912

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SOURCE Centri Tech Foundation

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Economics

Expert on Bath & Body Works: ‘an easy double the next three years’

Bath & Body Works Inc (NYSE: BBWI) might have been painful for the shareholders this year, but the road ahead will likely be a rewarding one, says…

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Bath & Body Works Inc (NYSE: BBWI) might have been painful for the shareholders this year, but the road ahead will likely be a rewarding one, says the Senior Vice President and Portfolio Manager at Westwood Group.

BBWI separated from Victoria’s Secret

The retail chain separated from Victoria’s Secret in 2021, which, as per Lauren Hill, clears the way for a 100% increase in the stock price in the coming years. On CNBC’s “Closing Bell: Overtime”, she said:

[Bath & Body Works] has really strong pricing power. They have 85% of their supply chain in the United States and with the Victoria’s Secret brand now gone, I think it’s a wonderful buy; an easy double the next three years.

Last month, the Columbus-headquartered company reported results for its fiscal first quarter that topped Wall Street expectations.

Bath & Body Works is a reopening play

The stock currently trades at a PE multiple of 6.64. Hill is convinced Bath & Body works is a reopening name and will perform so much better as the world continues to pull out of the pandemic. She noted:

Customers have missed buying their scented products in store and as their social occasion calendars fill up, they are getting back out there and buying more gifts, including Bath & Body Works products.

Hill also dubbed BBWI a great pick amidst the ongoing inflationary pressures because of its reasonably priced products. Shares are down more than 50% versus the start of 2022.

The post Expert on Bath & Body Works: ‘an easy double the next three years’ appeared first on Invezz.

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Economics

Majority Of C-Suite Execs Thinking Of Quitting, 40% Overwhelmed At Work: Deloitte Survey

Majority Of C-Suite Execs Thinking Of Quitting, 40% Overwhelmed At Work: Deloitte Survey

Authored by Naveen Anthrapully via The Epoch Times,

A…

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Majority Of C-Suite Execs Thinking Of Quitting, 40% Overwhelmed At Work: Deloitte Survey

Authored by Naveen Anthrapully via The Epoch Times,

A majority of C-suite executives are considering leaving their jobs, according to a Deloitte survey of 2,100 employees and C-level executives from the United States, Canada, the UK, and Australia.

Almost 70 percent of executives admitted that they are seriously thinking of quitting their jobs for a better opportunity that supports their well-being, according to the survey report published on June 22. Over three-quarters of executives said that the COVID-19 pandemic had negatively affected their well-being.

Roughly one in three employees and C-suite executives admitted to constantly struggling with poor mental health and fatigue. While 41 percent of executives “always” or “often” felt stressed, 40 percent were overwhelmed, 36 percent were exhausted, 30 percent felt lonely, and 26 percent were depressed.

“Most employees (83 percent) and executives (74 percent) say they’re facing obstacles when it comes to achieving their well-being goals—and these are largely tied to their job,” the report says. “In fact, the top two hurdles that people cited were a heavy workload or stressful job (30 percent), and not having enough time because of long work hours (27 percent).”

While 70 percent of C-suite execs admitted to considering quitting, this number was at only 57 percent among other employees. The report speculated that a reason for such a wide gap might be the fact that top-level executives are often in a “stronger financial position,” due to which they can afford to seek new career opportunities.

Interestingly, while only 56 percent of employees think their company executives care about their well-being, a much higher 91 percent of C-suite administrators were of the opinion that their employees believe their leaders took care of them. The report called this a “notable gap.”

Resignation Rates

The Deloitte report comes amid a debate about resignation rates in the U.S. workforce. Over 4.4 million Americans quit their jobs in April, with job openings hitting 11.9 million, according to the U.S. Department of Labor. In the period from January 2021 to February 2022, almost 57 million Americans left their jobs.

Though some are terming it the “Great Resignation,” giving it a negative connotation, the implication is not entirely true since most of those who quit jobs did so for other opportunities. In the same 14 months, almost 89 million people were hired. There are almost two jobs open for every unemployed person in the United States, according to MarketWatch.

In an Economic Letter from the Federal Reserve Bank of San Francisco published in April, economics professor Bart Hobijn points out that high waves of resignations were common during rapid economic recoveries in the postwar period prior to 2000.

“The quits waves in manufacturing in 1948, 1951, 1953, 1966, 1969, and 1973 are of the same order of magnitude as the current wave,” he wrote. “All of these waves coincide with periods when payroll employment grew very fast, both in the manufacturing sector and the total nonfarm sector.”

Tyler Durden Sat, 06/25/2022 - 20:30

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Spread & Containment

Optimism Slowly Returns To The Tourism Sector

Optimism Slowly Returns To The Tourism Sector

Coming off the worst year in tourism history, 2021 wasn’t much of an improvement, as travel…

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Optimism Slowly Returns To The Tourism Sector

Coming off the worst year in tourism history, 2021 wasn't much of an improvement, as travel remained subdued in the face of the persistent threat posed by Covid-19.

According to the United Nations World Tourism Organization (UNWTO), export revenues from tourism (including passenger transport receipts) remained more than $1 trillion below pre-pandemic levels in 2021, marking the second trillion-dollar loss for the tourism industry in as many years.

As Statista's Felix Richter details below, while the brief rebound in the summer months of 2020 had fueled hopes of a quick recovery for the tourism sector, those hopes were dashed with each subsequent wave of the pandemic.

And despite a record-breaking global vaccine rollout, travel experts struggled to stay optimistic in 2021, as governments kept many restrictions in place in their effort to curb the spread of new, potentially more dangerous variants of the coronavirus.

Halfway through 2022, optimism has returned to the industry, however, as travel demand is ticking up in many regions.

You will find more infographics at Statista

According to UNWTO's latest Tourism Barometer, industry experts are now considerably more confident than they were at the beginning of the year, with 48 percent of expert panel participants expecting a full recovery of the tourism sector in 2023, up from just 32 percent in January. 44 percent of surveyed industry insiders still think it'll take until 2024 or longer for tourism to return to pre-pandemic levels, another notable improvement from 64 percent in January.

Tyler Durden Sat, 06/25/2022 - 21:00

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