A selection of three essential articles read aloud from the latest issue of The Economist. This week, MBS: despot in the desert, the era of big-tech exceptionalism may be over (49:05), and why it’s OK not to be perfect at work (55:30).
Americans are leaving their jobs in droves. In August 4.3 million Americans quit their jobs. While some people have left the workforce entirely, job security and better pay are top concerns for others. Dubbed “The Great Resignation”, the exodus of workers has created hiring challenges for companies and left millions of jobs unfilled. More than half of U.S. workers surveyed said they plan to look for a new job in the coming year, according to Bankrate’s August jobseeker survey. Some 56% of respondents said adjustable working hours and remote work were a priority. Working women have faced an additional burden, juggling childcare duties, virtual schooling and their careers. So, what does the realignment of the workforce mean for employees and businesses? And what steps should you take before quitting your job?
Low-wage work is in high demand, and employers are now competing for applicants, offering incentives ranging from sign-on bonuses to free food. But with many still unemployed, are these offers working? Photo: Bloomberg
From commuting to office time, automation to virtual reality – here’s how we’ll be working in 2030
The labor market is red-hot again after more than a year on ice. The class of 2021 college graduates are looking at a new jobs landscape, but the competition is fierce. What should new grads expect from the job market and the job hunting process? Photo: Hoang ‘Leon’ Nguyen/The Republican via AP
The pandemic has fuelled an explosion of unemployment and a transformation in how many people work, especially in richer countries. Many of these changes are promising and there are many reasons for optimism about the labour market.
Mass unemployment, colossal bankruptcies, and a shattered tourism industry have ravaged New York City during the coronavirus pandemic. In January 2021, Governor Andrew Cuomo proposed raising taxes on the wealthy, while cutting Medicaid and school spending to balance the multi-billion dollar budget deficit. Opponents say tax hikes could lead to a mass exodus of the wealthy New Yorkers who fund a large portion of the city’s revenue. Others say that the crisis has exasperated existing inequalities and cutting social services will only hurt those most affected.
As the pandemic changes how — and where — professionals work, some smaller cities and regions are offering hefty relocation incentives to attract remote workers to help jumpstart their local economies. WSJ met one family who accepted an offer to make a new home in the Ozarks. Photo: Craig Kauffman for the Wall Street Journal