David DeLong

May 22, 2017
The Class of 2017 | Economic Policy Institute
What this report finds: After years of elevated unemployment and depressed wages, young graduates’ economic prospects have finally begun to brighten. Members of the Class of 2017 have better job prospects than their peers who graduated in the aftermath of the Great Recession. Unemployment rates for young high school and young college graduates have returned to within one percentage point of their pre-recession levels and wages are continuing to s [More]
This report has more detail than you want to read about the state of the job market for class of 2017 graduates -- both from college and high school. But here are some key takeaways:
--For young college graduates, limited job opportunities, stagnating wages, and the rising cost of higher education make college an increasingly difficult investment.
--There is a significant gap in employment between minority and white recent college grads.
--The number of recent college grads in jobs that don't require a college degree has remained higher than before the recession, but the quality of those jobs has continued to decline.
--The bottom line for college today is you can major in anything, but you better minor in job search from the beginning, if you want your college investment to pay off.
May 21, 2017
IBM, a Pioneer of Remote Work, Calls Workers Back to the Office - WSJ
International Business Machines Corp. IBM -0.10% is giving thousands of its remote workers in the U.S. a choice this week: Abandon your home workspaces and relocate to a regional office—or leave the company.

The 105-year-old technology giant is quietly dismantling its popular decades-old remote work program to bring employees back into offices, a move it says will improve collaboration and accelerate the pace of work.

The changes co [More]
Is IBM's action to relocate remote workers to centralized offices a new trend or an anomaly? It is worth noting the a few companies are deciding it is more important to have workers side by side than giving them the flexibility of telecommuting. But other CEOs I have been interviewing say they are no longer concerned where people live. A lot of firms are becoming much more open to employees who work remotely, particularly for hard-to-fill jobs. It will be interesting to see how this trend plays out, particularly in jobs where there are critical skill shortages. Which way is your organization heading?
May 21, 2017
Student Debt’s Grip on the Economy - The New York Times
After decades of rising college costs and tepid income growth, student debt has become a drag on graduates’ hopes and a threat to economic growth.

The cost of a four-year college education, adjusted for inflation, is two and half times as much as it was in the 1978-79 school year, while median family income has increased only 20 percent.

A new report by the Federal Reserve Bank of New York documents the hardship that has resulted fr [More]
I don't agree with the conclusions of this editorial that support more collective bargaining for white collar workers. That's not going to happen on a large scale. But this editorial is full of up to date statistics on the economic impacts of student debt.
Aug 29, 2017
Why Super-Efficient School Bus Routes Could Wreck the US Economy | Connecting the Dots Investment Newsletter | Mauldin Economics
Everyone is worried about robots. Elon Musk fears they will kill us all if we give them both deadly weapons and autonomy.

He certainly has a point, but the non-lethal scenarios are no picnic either. Robots are already taking over human jobs at a rapid pace. Any work involving predictable, repetitive activities is vulnerable.

Worse, artificial intelligence (AI) systems threaten even “knowledge worker” jobs now.

This is a troub [More]
Interesting article on the rapid progress being made toward driverless trucks.
May 21, 2017
America’s male employment crisis is both urban and rural | Brookings Institution
In the wake of the 2016 presidential election, many analysts have interpreted Donald Trump’s victory as the product of economic anxiety among the white working class—particularly in the smaller towns and rural areas that provided his electoral margin in closely contested states like North Carolina, Michigan, Pennsylvania, and Wisconsin.
This piece does not purport to explain why people voted the way they did, or what role economic factors play [More]
When employers complain about the lack of talent available they often fail to consider the troubling macro trend that shows a decline in employment among prime working age men. This problem is particularly acute in rural areas, but also in urban centers. We have to find ways to bring these people into the workforce.
May 21, 2017
Closing the Healthcare Industry’s Skills Gaps | Healthcare Informatics Magazine | Health IT | Information Technology
The healthcare industry is hiring. According to the U.S. Bureau of Labor Statistics, healthcare jobs are projected to grow by 19 percent from 2014-2024. But, as in many other dynamic industries, healthcare is changing rapidly, driven by the increased use of technology and the aging population. Finding talent with the right skills to keep pace with these shifts is an ongoing challenge.

Unfilled jobs cost U.S. businesses $160 billion annuall [More]
This article reports on skill shortages in a specific sector -- healthcare. While a lot of the skills in short supply are technical, there is also reportedly a shortage of leadership and strategy skills. C-level hospital execs have been telling me for years they have a very hard time finding emerging leaders who have a real systemic view of their organization. Too many executives are overly focused on their own service lines.
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