An increasing share of restaurant worker income comes from tips (Square Payroll Index, 2024): The restaurant industry is about 10% of the total U.S. workforce, and the majority of its 12.4M workers rely on tips for significant income. These tips are becoming a larger share of restaurant worker income, but they are also more volatile due to changing consumer behavior and economic downturns.
October’s exceptionally weak U.S. Jobs Report was among the strangest in recent memory, due in part to extreme weather. The number of people saying they had a job but could not work due to bad weather was easily a record high, more than double the previous record.
Today women comprise 29% of the C-suite, way up from 17% in 2015. Yet improvement in representation has been notably slower at the entry and manager levels.
Tenure continues to decline since its high in 2012. Research shows that female workers, and younger workers overall, were more likely to be short-tenured employees.
Despite indications of Silicon Valley’s fall from grace as startup mecca, the reality is that the Bay Area has increased its share of tech startups in recent years.
US labor productivity has soared in the last five years, far more than other countries. The U.S.’s comparative advantage in technology likely played a key role. Other factors include a more flexible labor market, stronger investment in innovation, and a robust government stimulus that helped fuel a faster post-pandemic recovery.
Turnover risk is lower when employees can choose where they work (Great Place To Work Institute) – In the words of luminary thinker Daniel Pink: “Companies instituted mandatory return-to-office measures to boost productivity and deepen employee commitment. Turns out those moves had the *opposite* effect.”
In July’s disappointing report, almost the entire month-to-month increase in unemployment came from “unemployment due to temporary layoff,” i.e. people who expect to be recalled to work. A sign of impending recession? Probably not.
Month-to-month increase in unemployment came from a surge in one category (BLS, NBER) – In July’s disappointing report, almost the entire month-to-month increase in unemployment came from “unemployment due to temporary layoff,” i.e. people who expect to be recalled to work. A sign of impending recession? Probably not.
The premium earned by Americans with advanced degrees (Guy Berger, Ph.D.) – How much more does an advanced degree pay out? It’s the lowest premium since 2000.