David Swenson, research scientist, was recently interviewed by:
Inyoung Choi, Des Moines Register, about how Des Moines business owners feel about the $15 minimum wage.
Annie Mehl, Dubuque Telegraph, about the causes of the rise in gasoline prices.
Linh Ta, Axios, about why there has been a sharp decline in labor force participation in Iowa and who makes up the exits from the labor force.
Grant Schulte, (AP) Missourian, March 2, "Biden plan to distribute virus aid irks some governors"
Iowa State University economist David Swenson said the White House’s approach makes some sense because the states with the highest unemployment rates are generally the ones that relied more on industries battered by the pandemic, such as tourism.
“If proportionally more people are unemployed in Las Vegas and California and other places that are entertainment destinations, then it would make sense to send money to those places instead of Iowa and Nebraska,” Swenson said.
The Gazette, March 5, "A rough road for Iowa's ethanol industry?"
Opinions vary on how long it will take to get to pre-pandemic levels. Shaw anticipates a 2022 return to normal.
Swenson, however, doesn’t see it ever returning to pre-pandemic levels. The Iowa State economist said ethanol “has probably reached peak production” well before the pandemic and has been “overproduced tremendously.”
Telegraph Herald, March 5, "With local gas prices jumping, experts disagree on future trends."
“We’ve had several months of a growing economy, and the pandemic is easing some as people are getting their vaccines,” Swenson said. “Motor vehicle fuel demand is up, but the supply is lagging.”
The key factor in recently higher U.S. gas prices has been the February storms that have taken refineries offline, tightening supply. The national average was $2.74 per gallon on Thursday, up more than 30 cents from the beginning of February.
“The run-up was a function of refinery and distribution disruptions from the southern freeze,” Swenson said. “Even though we get most of our gas from North Dakota and Canada, problems in one petroleum region often affect our prices as well.”