With the U.S. economy growing rapidly, millions of people have returned to work. Yet there is still one large group of Americans whose employment rates remain far below their prepandemic levels — mothers of young children.
Consider this data, which Moody’s Analytics compiled for The Morning:
have not returned to normal operations. They are open for only a few hours a day, a few days a week or on alternating weeks, making it difficult for parents to return to a full-time job. And parenting responsibilities still fall disproportionately on women.
This situation is unlikely to change over the final month or two of the current school year. But it raises a major question about the start of the next school year, in August and September: Will schools fully reopen — every day, Monday through Friday, and every week?
Claire Cain Miller, who writes about gender and work, told me. “Obviously, parents can’t get back to work without that.”
“It’s not enough to sort of open,” said Emily Oster, an economist at Brown University who studies parenting. “We are going to need to figure out how to make it possible to open normally.”
Is it safe to open?
Fortunately, the available evidence indicates that schools can safely return to normal hours in the fall. Nearly all teachers have already had the chance to be vaccinated. By August, all children who are at least 12 are also likely to have had the opportunity. (The Pfizer vaccine is now available to people 16 and up, and federal regulators appear set to approve it for 12- to 15-year-olds in coming weeks.)
Few younger children — maybe none — will have been vaccinated by the fall. But data from both the U.S. and other countries suggests that children rarely infect each other at school. One reason is that Covid-19 tends to be mild for younger children, making them less likely to be symptomatic and contagious.
small health risk to children that society has long accepted without closing schools. A child who’s driven to school almost certainly faces a bigger risk from that car trip than from the virus.
Of course, the risk from Covid is not zero, which is why many school districts are still grappling with what to do in the fall. Covid has so thoroughly dominated our thinking over the past 14 months that many people continue to focus on Covid-related issues — even highly unusual or uncommon ones — to the exclusion of everything else.
Covid does present a minuscule risk to children. And there will also be some teachers and other school employees who choose not to be vaccinated or who cannot receive a vaccine shot for health reasons; some of them may need to remain home if schools reopen.
For these reasons, a full reopening of schools will bring real, if small, costs and complications. Communities will have to weigh those costs against the enormous damage that closed schools are doing to American women.
Hybrid schooling is also harming children, and schools should not continue it in the fall, David Zweig argues in New York Magazine.
Blue states have been the slowest to reopen their schools, and parental frustration presents a political risk for the Democratic Party, The Times’s Ross Douthat writes.
“Even in typical times, labor force participation of parents, particularly mothers, is lower here than in much of the rest of the developed world,” Mark Zandi, the chief economist at Moody’s Analytics, told me. He noted that President Biden’s economic plan tries to address this.
In a recent Times article, Claire Cain Miller described ideas to help working parents during the pandemic.
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writes in The Times. He calls it “an elegant promotional solution: If people decide they want to listen to your song, simply give them more of it.” Lil Nas X similarly kept his breakout song, “Old Town Road,” at the top of the Billboard Hot 100 for a record-breaking 19 weeks in 2019, partly through remixes, which has helped him sustain stardom despite not having yet released a full-length album.
Often, these remixes can be substantial, adding a new layer to the song. But sometimes they’re a slightly altered version that is more obviously a ploy to game streams. “For younger artists, especially those who catch fire on TikTok, lengthening the life of a song,” Caramanica writes, “is crucial to setting a foundation for a chance at something beyond a one-viral-smash career.” — Sanam Yar, Morning writer
Here’s today’s Mini Crossword, and a clue: Prepare for a race (five letters).
If you’re in the mood to play more, find all our games here.
Thanks for spending part of your morning with The Times. See you tomorrow. — David
P.S. Television stations aired the Kentucky Derby live for the first time 69 years ago today. New Yorkers “flocked into neighborhood bars for their teleview,” The Times reported.
LONDON — For Aimée Felone, whose children’s bookstore in London stocks tales with ethnically diverse characters, the Black Lives Matter protests last summer were, in a word, overwhelming.
“We had attention like we’ve never had before,” Ms. Felone said. People across the country clamored for books about antiracism and sought out Black-owned businesses like her store, Round Table Books, as a way to help reverse years of economic racial inequality. In early June, the store’s sales went through the roof.
But pandemic restrictions had shuttered the store’s warehouse. After two weeks, the four-person team was struggling to fulfill online orders. A publishing company affiliated with the bookstore, which Ms. Felone also co-founded, sold out of every book it had published. New customers grew impatient.
“The sales were wonderful,” Ms. Felone said. The problem was “the additional stresses that I think a lot of people don’t realize they’re putting” on the small Black businesses they are trying to help.
the largest social movement in U.S. history and quickly spread across the globe, businesses are looking for ways to convert that chaotic surge of interest into regular, reliable sales.
In Britain, one effort was created by Swiss, a British rapper. He calls it Black Pound Day, and the idea is simple: Once a month, people should spend money with Black businesses.
according to a study conducted by Jamii, a company supporting Black businesses, and Translate Culture, a marketing agency.
pardner. Small groups still use it to save together outside the banking system.
Swiss, 38, whose real name is Pierre Neil, grew upin South London. His grandparents had come to Britain from Barbados and Jamaica. At 17, he found fame with So Solid Crew, a garage and hip-hop group with dozens of members. In 2001, their song “21 Seconds” topped the British charts.
But the group’s reputation was always entwined with gang culture and violence — a point Swiss pushed back against in “Broken Silence,” a song he co-wrote describing how the group felt that it had been mistreated by the media and government and unfairly blamed for its low socioeconomic status.
“I’ve been making socially conscious tunes from back when I was a teenager,” Swiss said, adding that he was inspired by the rappers Tupac and Nas.
Today in Business
Swiss said he had mulled over the idea for Black Pound Day for years, noting how few businesses that Black people appeared to own.
A study by the British Business Bank, a state-owned bank supporting small businesses, and the consulting firm Oliver Wyman found that entrepreneurs who come from an ethnic minority background face systemic disadvantages, and that the average annual revenue for a Black entrepreneur was 10,000 pounds less than it was for white business owners in 2019.
0.02 percent of venture capital money invested in Britain from 2009 to 2019 went to Black female founders. That’s 10 women in a decade.
Those barriers contribute to large income and wealth gaps between Black and white households in Britain. The total wealth for a median household headed by a white British person (including property, investments and pension) is £313,900 ($436,000). For a Black Caribbean household, it’s £85,900 and just £34,000 for a Black African household, the national statistics agency estimates.
Ms. Ismain, the founder of Jamii, which offers a one-stop shopping site for Black businesses, said her organization and initiatives like Black Pound Day sought to remind consumers to keep Black businesses in mind even when antiracism protests weren’t front-page news.
“When it’s not trending, you don’t always think about it, you fall into old habits, and if you can’t find alternatives to things you are already buying anyway it’s just not very sustainable,” Ms. Ismain said. “That’s the thought process behind Jamii — making it super easy to find businesses.”
For Afrocenchix, a hair care brand for natural Afro hair, Black Pound Day has been transformative. Every month on Black Pound Day, the company gets two or three times its normal sales. To promote the day, it offers customers free delivery and a packet of tea and biscuits — a.k.a. cookies in the United States — with their order.
“We got trolled a bit on the first Black Pound Day by lots of people telling us we were racist and not British,” said Rachael Corson, a co-founder of Afrocenchix. So in response, she said, she and her co-founder, Jocelyn Mate, thought: “What’s more quintessentially British than tea and biscuits?”
Since the first Black Pound Day, they have doubled their number of customers, and in 2020, Afrocenchix’s sales were five times that of the previous year.
“It made a huge difference in terms of brand awareness for us,” Ms. Corson said.
And the influx of customers and revenue should help Afrocenchix’s founders with their next goal of overcoming the venture capital fund-raising odds. They are trying to raise £2 million.
For others, the advantages of Black Pound Day have dipped with time, and they speculate that consumer interest has been spread across more Black businesses. But Natalie Manima, the founder of Bespoke Binny, a housewares brand sold online, said the attention her company had gotten since people sought out Black-owned retailers during last summer’s protests had been “life changing.”
The interest “didn’t end,” Ms. Manima said. “It’s not the same barrage that it was, but I have not ever gone back to pre-protest level of sales.”
She recalled the day in early June when she woke up to hundreds of orders for her products, which include lampshades, oven mitts and blankets. It took her a few days to track the source of the surge — a list of Black-owned businesses circulating on Instagram at the height of the Black Lives Matter protests.
Because Britain was under lockdown, the manufacturer of her products was closed, as was her daughter’s nursery school. So Ms. Manima was packing orders herself, late at night and early in the morning, until she sold out of everything and had to pause taking orders.
But once the manufacturers reopened and her business was running smoothly again, customers have kept coming back. She has since moved into a larger office (twice) and hired a team.
“I have gone from a one-woman show to this, and I know that it’s all down to what happened in June,” she said.
That said, the experience at Round Table Books, the children’s bookstore, is a testament to how hard it can be to permanently alter people’s spending habits, even with the help of initiatives like Black Pound Day. The store has been shut all winter in line with government restrictions. It sells books online, but it’s still hard to compete against giants like the British bookseller Waterstones and Amazon.
“When you don’t have the physical bookshops open, I find that a lot of the attention goes to the bigger brands,” Ms. Felone said. But she said that the store will reopen in early May and that she still supported Black Pound Day.
Heavy trading volume greeted the highly anticipated market debut of Coinbase on Wednesday, which ended the day worth some $86 billion. The cryptocurrency company’s coming-out party made some insiders very rich, opened up new possibilities for cementing its position in the blockchain economy and blazed a trail for other crypto companies to follow its lead onto the public markets, the DealBook newsletter writes.
The stake held by Brian Armstrong, Coinbase’s co-founder and chief executive, is now worth roughly $13 billion. Shares held by its other co-founder, Fred Ehrsam, are worth about $6.7 billion. (Andreessen Horowitz’s stake is worth $11.2 billion, while Union Square Ventures’ holding is worth $5.3 billion.) Other investors who stand to collect big paper profits — if they held on to their shares — include the National Basketball Association star Kevin Durant, the rapper Nas and Alexis Ohanian, a co-founder of Reddit.
The market listing makes it easier for Coinbase to negotiate mergers and acquisitions. “We want to be able to have a public mark on our stock price because it helps us do more and more M.&A.,” Emilie Choi, the company’s chief operating officer, told the technology site Protocol. “There’s so much innovation happening in the crypto ecosystem, and we can’t possibly do it all in-house.” But the listing also brings more scrutiny of the company’s internal culture, which has included accusations of unfair treatment of Black and female employees and poor customer service.
Coinbase could lead the way for others. The tech investor Ron Conway called Coinbase “the Google for the crypto economy.” As crypto goes mainstream, others with similarly big ambitions may follow Coinbase onto the public markets, including rival markets like Binance, the biggest crypto exchange, and Gemini, the company founded by the Winklevoss twins. Exchange-traded funds that hold Bitcoin and other cryptocurrencies directly also haven’t yet been approved by the S.E.C., but proponents believe that could happen soon.
original Hacker News post from March 2012 looking for a co-founder for his crypto venture, which drew dismissive comments like, “Because bitcoin worked out so well. Have fun with that, dude.” Bitcoin was worth about $5 then; it’s more than $60,000 now.