Published on May 19, 2020
What happens when seemingly unstoppable economic growth meets an irrepressible global pandemic?
Seattle is finding out. The hard way.
To get a uniquely informed perspective on the situation as it stands—and as it may look in the future—we turn to Jeff Shulman, the Marion B. Ingersoll Professor of Marketing at the Foster School of Business. For the past four years, Shulman has examined the full range of societal and cultural ramifications of Seattle’s decade-long economic boom through his award-winning Seattle Growth Podcast and probing documentary film On The Brink.
Here’s his take on Seattle in the time of coronavirus, and beyond.
How is the pandemic impacting Seattle economically?
Jeff Shulman: Like everywhere, it’s coming in waves. The first wave crashed very suddenly and unexpectedly, hitting hourly workers, the hospitality industry, arts and entertainment. The second wave hit shortly after, when small businesses realized that even letting employees go couldn’t make up for the fact that they still have fixed expenses and little or no revenue coming in. And the third wave—still coming—is hitting larger companies, which serve national or international customers who are also facing dire financial circumstances.
Continue reading at the Foster Blog.
Originally written by Ed Kromer for the Foster Blog.