Foreign Affairs (July 11)
“Today, globalization has stalled, and the new vogue for stockpiling strategic commodities and “friend-shoring” supplies will be inflationary. Add in the aging of populations and the possibility that young workers will insist on a flexible approach to work, and the Fed may have to run tighter policy than in the past quarter of a century.”
Tags: Aging, Commodities, Flexible, Friend-shoring, Globalization, Inflationary, Populations, Stalled, Stockpiling, Strategic, Supplies, Work, Young workers
Financial Times (May 19)
In Ireland, “the jobless rate for the under-25s surged to 52.8 per cent in April,” up drastically from 12 per cent in February, and “the hit to young workers was not unique to Ireland.” For example, McKinsey has found that “workers aged 15-24 throughout Europe are almost twice as likely as those aged 25-54 to have jobs at risk’ 41 percent for the young; and 25 percent otherwise.
Businessweek (January 4)
“Just 19 percent of 15- to 17-year-olds had jobs in 2018, compared with almost half in 1968.” Shifts like this are “particularly troublesome for restaurants that have depended on young workers since the days of soda jerks and carhops.” Coupled with a tight employment market and increasing wages, restaurants will be “scrambling for cheap labor in 2019.”
Tags: Cheap labor, Employment, Jobs, Restaurants, Troublesome, Wages, Young workers
