The pandemic has rearranged many parts of the economy and it is difficult to keep up. But we can add one more: bicycles. There is a shortage of bicycles nationally and even internationally. It has been going on for several months and will continue for several months.
It shows how many of us are dealing with the reality of the pandemic, and it also talks about many issues related to the supply chain.
Jonathan Bermudez said: “I was looking for a bike in a bike shop, but it seemed that I could not be found.” He worked at Al’s Cycle Solutions in Hell’s Kitchen in Manhattan. This is the third bicycle shop he has visited today.
Bomdez said: “No matter where I look, they don’t have what I need.” “I feel a little frustrated.”
He said, “I don’t have any bikes anymore.” “You can see that all my shelves are empty. [The problem] is that I don’t have enough supplies to make money now.”
To date, bicycle thefts in New York have increased by 18% each year. Theft of bicycles valued at $1,000 or more increased by 53%, which of course in turn increased demand. This shortage is international and began in January when the coronavirus shut down factories in East Asia, which is the center of the bicycle industry’s supply chain. Eric Bjorling is the brand director of Trek Bicycles, an American bicycle manufacturer.
He said: “When these countries closed and those factories closed, the entire industry did not produce bicycles.” “Those are bicycles that should arrive in April, May, June, and July.”
While supply shortages are increasing, demand will also surge. It begins when everyone is trapped at home with the children and decides to let them ride bicycles.
“Then you have entry-level hybrids and mountain bikes,” he continued. “Now these are bicycles used for family trails and trail riding.”
“Look at public transportation from a different perspective, and so are bicycles. We are seeing a surge in commuters,” Bjorlin said.
Chris Rogers, a supply chain analyst at S&P Global Market Intelligence, said: “The industry did not initially have a large amount of idle capacity.”
Rogers said: “What the industry does not want to do is to double its capacity to meet the growing demand, and then in the winter or next year, when everyone has a bicycle, we turn around and suddenly you leave a factory. . It’s too big, the machines or people are no longer in use.”
Rogers said that the trouble in the bicycle industry is now a symbol of many industries, and they are trying to curb the violent fluctuations in supply and demand. But as far as the bicycles are concerned, he said they were coming, but they were too late. The next batch of entry-level bikes and parts may arrive around September or October.
As more and more Americans are vaccinated against COVID-19 and the economy begins to reopen, some companies require proof of vaccination before they can enter their premises. The concept of a vaccine passport raises ethical questions about data privacy and potential discrimination against unvaccinated. However, legal experts say that companies have the right to deny entry to those who cannot produce proof.
According to the Labor Department, job vacancies in the United States increased more than expected in February. In addition, the economy added 900,000 jobs in March. For all the recent good job news, there are still nearly 10 million unemployed, of which more than 4 million have been unemployed for six months or more. “Therefore, we still have a long way to go to achieve a full recovery,” said Elise Gould of the Economic Policy Institute. She said that the industries that receive the most attention are those you expect: “Leisure and hospitality, accommodation, food services, restaurants” and the public sector, especially in the education sector.
Glad you asked! On this point, we have a separate FAQ section. Quick click: The personal deadline has been extended from April 15 to May 17. In addition, by 2020, millions of people will receive unemployment benefits, among which those with adjusted gross income of less than US$150,000 can receive up to US$10,200 in tax exemption. And, in short, for those who applied before the passage of the American Rescue Plan, you do not need to submit a revised return now. Find the answers to the remaining questions here.
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