IMPLAN Blog

A new class of obesity medications known as GLP-1s has taken the U.S. by storm, with 10 million Americans having already taken the medications and 5 million still currently using them. 

GLP-1s work by decreasing appetite and can reduce calorie intake by 20% to 30% daily, according to findings from a Morgan Stanley research survey. Consumers in the survey reported reduced food consumption in many food categories, with the differences being most notable for snacks, confections, carbonated and sugary drinks, and alcohol. 

California's Senate Bill No. 525 (SB 525) is making waves in the healthcare industry. This landmark legislation proposes to raise the minimum wage for healthcare workers from $15.50 per hour to $25 per hour, a move aimed at addressing staffing shortages and reducing long wait times. The bill promises to improve patient health outcomes and enhance the quality of life for healthcare workers. While the benefits are clear, the implications for the home health service industry, in particular, are profound.

In the realm of economic analysis, understanding the full scope and implications of a firm's activities, an industry's growth, or the repercussions of a significant event is paramount. Economic impact studies serve as invaluable tools for unraveling these complexities, shedding light on the multifaceted effects that reverberate through economies. Today, we’re exploring why leveraging IMPLAN Cloud on a national scale is indispensable for informed decision-making.

As the 2024 hurricane season approaches, forecasts predict an unprecedented number of named storms. A research team led by University of Pennsylvania climate scientist Michael Mann predicted a range of 27 to 39 named storms, with a best guess of 33 – and the economic ramifications could be substantial. The following analysis uses IMPLAN to explore the potential impacts of U.S. storms on the U.S. GDP and employment landscape, considering both the damage costs and the economic stimulus provided by recovery efforts.

The foundation upon which IMPLAN economic impact analyses are built is the input-output (I-O) model, and the basis for I-O models are multipliers. Multipliers are rates of change that describe how a given change in a particular industry generates impacts in the overall economy (e.g. for every dollar spent in the economy an additional $0.25 of economic activity is generated locally, implying a multiplier of 1.25). What multipliers represent and how they are calculated can vary significantly. 

The proposed Child Tax Credit bill currently awaiting Senate approval promises to provide much-needed financial support for low-income families. This bill seeks to increase the maximum refundable amount per child, potentially uplifting millions of children and their families. 

This bipartisan legislation would, among other things, increase the maximum refundable amount per child of the Child Tax Credit from $1,600 currently to $1,900 in 2024 and $2,000 in 2025, as well as an inflation adjustment capped at $200.  An estimated 16 million children in families with low incomes would benefit in the first year, with more expected to benefit in the second year. 

A recent analysis conducted by IMPLAN sheds light on the far-reaching economic implications of the Child Tax Credit component of this bill, illustrating how increased household spending can stimulate GDP growth, job creation, and federal tax revenue.

In the last year, the United States witnessed a notable surge in strikes, with significant ramifications for various sectors of the economy. 

2023 saw a considerable uptick in strikes, with 33 major work stoppages—the highest in over two decades. Notably, these strikes involved nearly 459,000 workers, resulting in approximately 16.7 million days of lost work. Among these, the SAG-AFTRA strike, involving 160,000 actors and lasting four months, stood out as one of the most significant.

Drawing from recent data, this analysis delves into the economic effects of some of the most high-profile strikes, those by the Screen Actors Guild—American Federation of Television and Radio Artists (SAG-AFTRA), the Writers Guild, the United Auto Workers (UAW), and a coalition of unions against healthcare giant Kaiser Permanente.

It’s important to keep an eye on economic diversity, especially in times of economic uncertainty and when supply and demand are shifting. The Shannon-Weaver index is a powerful tool for measuring how evenly or unevenly the employment in any region is distributed among its industries. In today’s blog, we’re exploring how the S-W index works in IMPLAN and what it means for your economic impact studies.

The United States is experiencing a surge in demand for distribution transformers, a critical component of its power infrastructure. This demand spike is not merely a localized issue; it reflects broader economic dynamics and necessitates a deeper understanding of its implications. Let’s delve into the economic intricacies of this phenomenon and its far-reaching impacts.

Economic impact analysis isn’t just for those with years of experience in the field of economics anymore. 

For decades, IMPLAN has been the tool that economists and researchers turn to when they want to measure the impact of an economic event on a region. IMPLAN has long been trusted to deliver easy-to-use impact modeling, and extensive economic analytics. A few months ago, the IMPLAN Product Development team launched Quick Start Guides, which make it possible for those without an economics background to perform economic impact analysis quickly and easily by following a series of prompts that appear on the screen inside the application.