Mary Margaret Olohan on June 5, 2020 The U.S. economy gained 2.5 million jobs in May, while the unemployment declined to 13.3%, according to Department of Labor data released Friday. Total non-farm payroll employment rose by 2.5 million in May, according to the Bureau of Labor Statistics report,and the number of unemployed persons fell by…
Politicians are known for telling voters how bad things are. It’s a refrain that never seems to change regardless of the actual economic condition of a nation or community, and it’s practiced by those on both the political left and right. “The average American is working longer hours for lower wages,” Senator Bernie Sanders is…
Some people believe that becoming rich is a question of luck. I disagree. Whether chance presents you with a good opportunity or not is not the key question. Rather: – Do you actually recognize the opportunity in front of you? Or do you fail to appreciate it for what it is? As the Swiss author…
One of the certainties of a market economy is change. As Joseph Schumpeter famously observed, innovation moves the world forward, but not painlessly. The evolutionary process of “creative destruction” introduces new industries and new opportunities, but in its wake, less efficient industries and jobs are left behind. Even longstanding industries can struggle to keep up…
American presidential candidates Andrew Yang and Bill de Blasio are very concerned about robots taking people’s jobs. Yang has been touting his $1,000 per month “Freedom Dividend” for every American adult since the beginning of his primary run to offset the potential job losses due to automation. De Blasio, on September 5th, published an op-ed published in tech…
Audrey Conklin 2020 Democratic presidential candidate Bernie Sanders introduced a $16.3 trillion Green-New-Deal-like plan on Thursday, which he says will create 20 million jobs. The plan aims to make 100% of energy in the United States renewable by 2030 and have “full decarbonization” by 2050, according to Reuters. “As President, Bernie Sanders will boldly embrace the…
Self-service often means better service. If you’ve been to the grocery store lately, then you’ve probably had to make this choice: regular cashier or self-checkout? For many shoppers, the choice often depends on which option has a line, how many items they have in their basket, and sometimes they’ll just choose whichever lane is closest….