Written by TV analyst and financial advisor Nicola Smith Jackson
Atlanta, GA, September 15, 2020 — The COVID-19 pandemic has taken a significant toll across the nation, but for young adults the impact has been particularly devastating. According to a new survey by the Pew Research Center, for the first time ever, a majority of young adults between the ages of 18 to 34 now live at home with their parents.
As of July, 52 percent of millennials were living in their parents’ homes, up from 47 percent in February, according to the Pew analysis of Census Bureau data, surpassing the previous high hit in 1940, when 48 percent of young adults lived with their parents. The study also found the number and share of young adults living with their parents jumped across the board for men and women, all racial and ethnic groups, and in every geographical region.
Nicola Smith Jackson, bestselling author, financial advisor and TV analyst says, “Undergraduates at unprecedented levels are forced to make drastic changes, moving back home and studying remotely. Many are also forced to take a gap year because of the times. College graduates are also facing the worst job market, and student debt is at an all-time high — also putting a severe strain on their finances. More than seven in 10 graduates are in the red, owing more than $30,000 in student loans, and those already in the workforce are more likely to lose their jobs or take a severe pay cut.”
In less than six months, the share of 16- to 24-year-olds who are neither enrolled in school nor employed more than doubled due to the economic downturn that followed, according to the study. Even before the pandemic, young adults were increasingly dependent on their parents. About six in 10 parents with children between the ages of 18 and 29 said they have given their kids at least some financial help in the past year — primarily for recurring expenses such as tuition, rent, groceries or bills, Pew reported.
“Supporting grown children adds additional stress to parents when their own financial security is at risk, from medical coverage to auto insurance, groceries and internet, there are hidden costs to having children come back home, and it doesn’t look like it will be getting better any time soon,” says Jackson. Jackson offers these tips to help young earners become more stable:
- Avoid bad debt
- Save to invest
- Borrow only what you need
- Generate passive income
Dr. Nicola Jackson has over 25 years of entrepreneurial experience. She currently leads a multimillion-dollar team of agents consisting of tens of thousands in the financial service industry. She has also led over 450,000 sales representatives in more than 30 countries. As a wife and mother of four, including one child disabled, she turned her pains into passion after burying three children by the age of 23. She holds true to her Christian faith and uses Kingdom values and principles to deliver a sound message to thousands of people around the nation on how to manage a household, maintain a strong marriage and create a multimillion-dollar empire. Dr. Jackson was also an Executive Producer and star on the BET Centric hit reality series, Amateur Millionaires Club; has been featured in several national publications; and is a highly sought after speaker. She has shared the stage with the likes of Dr. Myles Munroe, Dr. Maya Angelou, Ambassador Andrew Young, Bishop Paul Morton, Steve Harvey, Tommy Dortch, Magic Johnson, Dr. Bernice King and many other world-renowned speakers. She is the host of the popular radio show and podcast, “Power Start Your Day.” She is also the author of Inside the Millionaire’s Vault and her upcoming books, Power Moves Journal for the Unstoppable Entrepreneur and Cash The Check, Time-tested Wealth Principles You Can Take to the Bank.
She founded the Pink Millionaire Club where she mentors women on how to “Connect the dots between the haves and the have nots” through Prayer, Impact, Nurturing and Knowledge. Currently, Dr. Jackson travels the world speaking to thousands on the topics, “Live and Die Rich” and “How to Become a Successful Entrepreneur While Being Spiritually Grounded.” She has dedicated her life to empowering others with opportunities and financial literacy to build wealth and legacies for families around the globe.
American Gaming Association Press Release
COVID-19 Causes 79% Year-Over-Year Drop in Q2 Commercial Casino Gaming Revenue
Record Start to 2020 Provides Strong Foundation for Gaming’s Recovery
WASHINGTON – U.S. commercial gaming revenue for the second quarter of 2020 totaled $2.30 billion, a steep 78.8 percent year-over-year contraction, according to the American Gaming Association’s (AGA) new Commercial Gaming Revenue Tracker.
Due to the impact of the COVID-19 pandemic, the U.S. gaming industry saw revenue decline in nearly every reported vertical compared to Q2 2019.
“COVID-19 has undoubtedly posed the most difficult economic challenge the gaming industry has ever faced,” said AGA President and CEO Bill Miller. “Yet, gaming’s record popularity prior to COVID-19, as well our resilience in the midst of such adversity, is evidence of the industry’s foundation for continued success as we emerge from the pandemic.”
Contrary to recent revenue declines, commercial casinos demonstrated strong consumer demand in 2020 when open for business. Before all 989 U.S. brick-and-mortar casinos closed their doors in March, combined commercial gaming revenue for January and February was up 10.4 percent year-over-year. Following the return of casino gaming in Q2, several states have reported a year-over-year uptick in average daily GGR per open casino despite operating with limited capacity, game availability, and amenities. This includes South Dakota (+42.5%), Ohio (+19.3%), and Indiana (+7.4%).
While April and May both experienced year-over-year GGR declines north of 90 percent, June saw nearly 300 commercial casinos reopen throughout the month and, as a result, revenue was nearly four times greater than the previous two months combined. More than 85 percent of U.S. casinos are now open, including nearly 9 in 10 commercial casinos, all of which have implemented stringent, regulator-approved health and safety plans.
“The gaming industry has been a leader in implementing rigorous, innovative protocols that have allowed the vast majority of our properties to reopen and stay open,” continued Miller. “With business returning to casino floors and sportsbooks seeing increased action, the gaming industry is steadily charting a responsible path to recovery that prioritizes health and safety, supports the communities where we operate, and offers first-class entertainment.”
Sports betting experienced a sharp decline in GGR in the second quarter due to the shutdown of sports activity, but is still up slightly (4.1%) in the first half of 2020 as a result of a record start to the year and increased legal options.
iGaming, the only gaming vertical to experience year-over-year growth in Q2 2020, marked the first full quarter generating more revenue than sports betting in the post-PASPA era. Online casino gaming is only legal in six states: Delaware, Pennsylvania, Nevada (poker only), New Jersey, Michigan (not live), and West Virginia.
AGA’s reporting on the financial performance of the U.S. commercial casino industry will continue on a quarterly basis as the association tracks the industry’s economic recovery. Monthly updates will be available on AmericanGaming.org.
- The AGA’s State of the States 2020 report found that the U.S commercial gaming industry generated record revenue in 2019. The companion AGA State of Play map houses economic impact and regulatory data for each of the 44 gaming states.
- To date, 851 of 990 U.S. casinos properties across 40 states have partially reopened. This includes 417 commercial casinos (89.7% of total) and 434 tribal properties (82.8% of total). The AGA’s COVID-19 casino tracker lists the reopening status of every U.S. casino.
- Read an overview of the various practices that gaming companies have implemented based on a review of AGA member health and safety plans.
About the Report
AGA’s Commercial Gaming Revenue Tracker provides state-by-state and cumulative insight into the U.S. commercial gaming industry’s financial performance based on state revenue reports. The first issue highlights second quarter results, ending June 30 (Q2 2020), and year-to-date comparisons.
About the AGA
The American Gaming Association (AGA) is the premier national trade group representing the $261 billion U.S. casino industry, which supports 1.8 million jobs nationwide. AGA members include commercial and tribal casino operators, gaming suppliers, and other entities affiliated with the gaming industry. It is the mission of the AGA to achieve sound policies and regulations consistent with casino gaming’s modern appeal and vast economic contributions.
Submitted by Heather Crandall RN Public Relations Group
A new study shows, as of this morning, coronavirus scammers broke the $105 million mark today and the surge in online shopping during the pandemic has led to the unprecedented rise.
More than 24,477 online shopping scams have been reported nationally and 171 have been reported in Oklahoma. This makes online shopping the No. 1 most reported type of Coronavirus related scam -- nationally and in the state -- as fraudsters continue stealing money people desperately need to weather the economic downturn.
SocialCatfish.com -- a company that helps consumers verify online identities to avoid being defrauded -- released a study on the State of Coronavirus Scams in America based on data from the Federal Trade Commission (FTC).
Key Findings as of August 11:
- Nationally: The FTC has registered 162,661 reports of fraud costing victims $106.82 million
- In Oklahoma: The FTC has registered 959 reports were filed costing victims $330K
- The most common type of scams nationally: online shopping (24,718 fraud complaints), followed by travel/vacations (18,920), credit cards (5,628), banks/credit unions (4,282), and mobile text messages (3,632).
- The most common type of scams in Maine: online shopping (171 fraud complaints), travel/vacations (84), Credit cards (52), mobile: text messages (27) and credit bureaus (23).
4 common online shopping scams to avoid during Coronavirus:
- THE PRICE GOUGING SCAM: Some retailers are marking up essential items such as toilet paper and hand sanitizer at abhorrent levels. This is particularly egregious with record unemployment as people simply cannot afford to pay $30 for toilet paper. Price gouging law varies by state but on average it is illegal to mark a product up 10% or more during a declared emergency. Amazon has had to remove half a million items for sale on its website due to price gouging and has suspended 6,000 accounts.
How to Avoid: If you suspect you are a victim of price gouging, report it to the Department of Justice. Currently, the market is stocked back up at normal prices for essential items and it is a good idea to plan ahead for a second or third wave.
- THE UNDELIVERED GOODS SCAM: There are thousands of websites offering essential products including masks and gloves that simply take your payment and financial information, never send you the product and have your information for future scams.
How to Avoid: Purchase products from big companies that you trust. If it is a smaller company, do research by googling them to see reviews and if any complaints have been filed.
- Shipping Time-Limit: Because of this scam, sellers are obliged by law to either give you an estimated shipping date or to ship your products out to you within 30 days. There is an exception for customers who opened a credit card account in order to purchase a product, which gives sellers a 50-day window to ship your product. If there is a delay in the expected shipping date, the company you purchased the product from must notify you.
- FREE GROCERIES SCAM: Scammers text their victims telling them that they just won free groceries from Costco at a $130 value. All the customers need to do is give scammers their personal information, and they will supposedly get free Costco groceries at their doorstep.
How to Avoid: There are currently no national grocery chain offering free groceries. Do not give your personal information.
If you encounter a coronavirus scam, contact local law enforcement or file a complaint with the FTC.
The Poteau Chamber of Commerce welcomes Dylan's Computer Service as new members of the Chamber.
The Chamber held a ribbon cutting for Dylan and his crew at his new location at 1302 North Broadway in Poteau.
Dylan's Computer Service has been in the technology business for over 10 years.
Dylan and team has currently provides services for numerous area schools and businesses. *Custom Computer Builds *Wired and Wireless Network Solutions *Surveillance Cameras and Equipment
Contact Dylan at 918-721-0305
Congratulations Dylan on your new business location
The first results from the new U.S. Census Bureau Small Business Pulse Survey released today show a large negative effect from COVID-19 for the majority (51.4%) of respondents and an expectation that it will take more than six months for their businesses to return to normal.
The survey, conducted by email, is intended to provide crucial weekly data on the impact of the COVID-19 crisis on the nation’s businesses. Results are displayed as data visualizations.
The survey was delivered to 100,915 small businesses in Week 1. Key findings from the 22,449 who responded from April 26-May 2:
Overall, how has this business been affected by the COVID-19 pandemic?
Of the U.S. businesses surveyed in the accommodation and food services sector, 83.5% experienced a negative effect from the COVID-19 pandemic.
In your opinion, how much time do you think will pass before this business returns to its usual level of operations?
An average 31.4% expect more than six months will pass before their business returns to its usual level of operations.
In the last week, did this business temporarily close any of its locations for at least one day?
An average 41.4% temporarily closed a location for at least one day.
Of note, an average 72.2% of businesses in the educational services sector, 62.4% in healthcare and social assistance sector, and 70.8% in the arts, entertainment and recreation sector temporarily closed a location for at least one day.
In the last week, did the business have disruptions in its supply chain?
An average 44.9% reported ‘yes,’ there were disruptions in the supply chain.
In the retail trade sector, an average 65.8% reported disruptions in its supply chain as did 49.6% of the manufacturing sector and 61.4% in the health care and social assistance sector.
Survey Updated Weekly
Data will continue to be posted every Thursday. Beginning this week, we are releasing data showing the impact on sectors at the national and state level including data for the District of Columbia and Puerto Rico.
In future weeks, the results will show the impact on sectors by state, the District of Columbia, and Puerto Rico for the 50 most populous metropolitan areas.
The Small Business Pulse Survey is one of two new weekly experimental data products fielded by the Census Bureau in April 2020 as a rapid response to the pandemic.
The two surveys, as well as the recently launched weekly Business Formation Statistics, represent the Census Bureau’s response to the urgent need for accurate, real-time data on the U.S economy and population.
The Small Business Pulse Survey includes information on location closings, changes in employment, disruptions in the supply chain, the use of federal assistance programs, and expectations concerning future operations.
For the duration of the survey, each week, over 100,000 small businesses will be invited to respond to a short, 16-checkbox survey estimated to take five minutes or less to complete. It is expected to reach approximately 885,000 small businesses over nine weeks with an expected end date of July 9, 2020.
Collaborators on the Small Business Pulse Survey included the Small Business Administration and Minority Business Development Agency, the Bureau of Economic Analysis, and the Bureau of Labor Statistics, among others.
The Census Bureau defines small businesses as single business locations with one to 499 employees and at least $1,000 in annual revenue.
More Surveys Provide Near Real-time Data
The Household Pulse Survey is the second weekly product fielded by the Census Bureau in response to COVID-19. It will gauge the impact of the pandemic on employment status, consumer spending, food security, housing, education disruptions, and dimensions of physical and mental wellness. In addition to emailing respondents, the Census Bureau will also utilize texting for Household Pulse. Results from that survey are expected the third week of May 2020.
In addition, last month the Census Bureau rolled out a weekly, more localized version of its Business Formation Statistics (BFS) to address the nation’s need for accurate, current information on the health of U.S. businesses.
Initially released as a quarterly, experimental product in February 2018, BFS tracks trends in business applications and formations at the state, regional, and national level. The new weekly data provide timely and granular information on the state of the economy.
The ability to understand how individuals and businesses are weathering the current crisis is critical given business disruption, stay-at-home orders, school closures, changes in the availability of consumer goods and consumer patterns, and other abrupt and significant changes to American life.
With the new weekly Pulse and BFS surveys, the Census Bureau is answering the call for relevant, reliable, and timely data at this crucial moment in America’s history.
More information on Census Bureau announcements relating to COVID-19 is available.
Jane Callen is the senior writer/editor in the Census Bureau's Communications Directorate.
Following Oklahoma governor Kevin Stitt’s declaration that personal touch businesses in the state could re-open April 24th, and Poteau mayor Scotty White’s April 22, 2020, COVID-19 Update, Poteau area residents were able to return to their barber and beauty shops and tanning and nail salons yesterday.
Sandy Moore, owner of Off the Top, said, “I am so happy to be back at work and see all my people. I’m taking appointments but be patient. I can have only one client inside at a time, so it takes a little longer between clients. Thank you to everyone who has called or messaged me the past few weeks to check on me.”
Moore sent the photos below of some of her Friday morning clients. Pictured in the chair wearing his mask is David Akins; Jimmy Lee Graves waiting in his truck; and Chad and Scoute Duschel standing.
Jamaica Me Dark owner Amber Reece was busy with customers an hour before they opened. “We are very grateful for our community’s support of our business and their patience in getting in the salon one at a time. Our customers were all gracious and kind with kind words and smiles! We had our best day to date for 2020 and are thankful for our clients and our community.” Reece said they were having customers wait in their vehicles and going out to get them one at a time when they have the beds ready for the next client. This prevents “customer-to-customer interaction and allows very little face-to-face client to employee interaction.” In addition, she also stated, “Our cleaning standards have always been above CDC recommendations, so that helps ensure our clients are safer than required.”
Britney Dunn, owner of Beauty~Licious, was glad to be back at work and see her co-workers. “We aren’t just co-workers, we are friends. We missed each other and we missed our clients. It has been tough financially, but it has also taken a toll on all of us mentally. Getting a hair cut or getting a color makes people feel better. Some of our clients come in regularly, once a month or so. They need us as much as we need them.” Beauty~Licious is large enough to allow space between stylists, so they can follow social distancing guidelines while providing various services to their clients. Dunn shared some photos of yesterday’s clients and of her masked crew with their cleaning/disinfecting supplies as well as the signs they have posted on the front door reminding clients to wait in their vehicles.
The Poteau Chamber of Commerce hosted a Ribbon Cutting to celebrate the Chamber membership of Sykes Fort Smith, AR Friday, March 13, 2020.
Sykes is an “inbound” call center. They do not make customer calls but answer customers’ calls for their clients.
The Sykes website says: “Sykes provides digital-marketing, customer care and technical-support to some of the world’s most popular brands. How? Via phone, chat and social media – plus, we’re always on the cutting edge of new technology to provide world-class service. At the heart (or in the DNA) of SYKES is a passion to serve, care for one another and provide our clients with top-notch service while giving back to the communities where we live and work.”
Pirate Nutrition Joins Poteau Chamber
A Chatahpreneur/Poteau Chamber of Commerce Ribbon Cutting was held Friday morning at Pirate Nutrition in Poteau. The event also celebrated the grand opening for Pirate Nutrition and owner, Chahtapreneur Veronica Sisco.
Pirate Nutrition’s mission to make not just Poteau but all of Leflore county a healthier & happier place. They do that by giving back to the community, providing delicious, nutritious shakes, refreshing energy teas, wellness coaching, group workouts, one-on-one support, career opportunities & a positive, encouraging environment. Try a tea or shake the next time you’re in north Poteau. Pirate Nutrition is located at 2912 North Broadway in Poteau, Oklahoma, next door to Don’s Easy Pay.
The Choctaw Nation Small Business Development Services provides business assistance to Choctaw tribal entrepreneurs that want to start or expand their business. Choctaw Tribal members that utilize the services receive specialized assistance through one-on-one business counseling, training workshops, an extensive network of business assistance programs and access to other educational networking opportunities.
The Poteau Chamber of Commerce is pleased to announce the following businesses have received Civic Improvement Awards for 2020
- LeFlore County Abstract
- CASC Ross & Artie Stiver Center
- Shockley Select Reality
- 610 Plaza
- KMAC Enterprises Poteau KFC/Taco Bell
- Choctaw Nation Child Care Development Center
- Poteau Re-Fill Center Choctaw Nation Rubin White Health Clinic
Congratulations to all the businesses