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The Economic Forecast for Texas Metropolitan Areas

Without a doubt, the downturn in oil prices is affecting not only Texas economic performance, but also that of the state’s metropolitan areas.  Larger negative...

 

Oil Price Fallout  

What a difference a few months makes.  Just six months ago, oil prices were trending above $100 per barrel.  Only a couple of months ago, they were around $80. ...

 

Short-Term Economic Forecast for Texas

Texas led the way out of the national recession, and has been adding jobs month after month for more than four years.  During the 12 months ended in November, about...

 

The Short-Term Outlook for the US Economy

Over the past year, the US economy has been generating net new jobs at a rate which has finally led to a meaningful reduction in unemployment, which stood at 5.8%...

 
Toward a Hunger Solution

Toward a Hunger Solution

Beyond the excruciating experiences of those directly afflicted, hunger is a pocketbook issue that adversely impacts every corner of the US economy and every individual...

 
 

Solving the Problem of Hunger Yields

Huge Economic Benefits

New Study by The Perryman Group Quantifies Economic Costs of Hunger in the United States and Benefits of Investments in Solving the Problem

Click to see a PDF of the report.

Click to view a PDF of the report.

When the costs of hunger and benefits of solving the problem by expanding the food bank network are considered, an investment in solving US hunger generates substantial economic returns. In fact, a new pro bono study by The Perryman Group estimates that every dollar invested in this process results in $33.27 in incremental spending, $15.82 in additional gross product, and $10.31 in personal income (including related multiplier effects).

Even beyond the obvious physical and mental costs of food insecurity and the incalculable toll on the stability and dignity of families across the United States, there is also a tremendous economic cost. Health care needs of people who are food insecure are higher due to increased incidence and severity of disease. Health outcomes are also worse, reducing productivity and lifetime earnings. In addition, education expenses are higher, with a greater need for intervention such as special education. Achievement levels (and, hence, lifetime earnings) are negatively affected. These costs multiply as they work their way through the business complex and are largely borne by the whole of society. The Perryman Group estimates that hunger costs the US economy $461.9 billion in total expenditures and $221.9 billion in gross product each year as well as nearly 2.5 million permanent jobs on an ongoing basis.

On an incidence basis, the lifetime costs associated with hunger at current levels are almost $3.4 trillion in aggregate spending, over $1.5 trillion in gross product, and 15.9 million years of employment.

“Unlike many social problems, hunger involves a relatively simple answer,” said Dr. Ray Perryman, President and CEO of The Perryman Group. “If people are provided food, the problem is solved. While the underlying causes certainly need to be addressed, the major harms can be avoided in a straightforward manner.”

The Perryman Group estimates that the incremental benefits of expanding food bank and charitable food distribution networks enough to meet current food insecurity needs include $556.6 billion in yearly spending, $264.7 billion in annual gross product, and almost 3.1 million ongoing jobs in the United States.

“Tens of millions of Americans do not have enough food to meet basic daily needs, which is nothing short of tragic,” said Dr. Perryman. “Every year that this problem is allowed to persist literally saps trillions of dollars in long-term economic potential from the United States.”

The full report is available as a PDF, as well as an infographic highlighting the major statistics.

Oil prices are below the sustainable long-term equilibrium level and the consequences are notable on many fronts. http://t.co/RlpVLScuv8
There are a number of complicated geopolitical issues impacting oil prices and how low they will go and how long they will stay there.
@PerrymanGroup expects Texas job growth to fall to about 200,000 to 225,000 per year down from over 400,000 in 2014. http://t.co/RlpVLScuv8