With the move to $15 or higher minimum wage, you can bet there will much more “shadow work” that will be moved to consumers or lost to automation. Shadow work is all the unpaid jobs we do on behalf of businesses and organizations: We are pumping our own gas, scanning our own groceries, booking our travel and busing our tables at Starbucks. Shadow work is a new concept, so as yet, no one has compiled economic data on how many jobs we, the consumers, have taken over from (erstwhile) employees. Yet it is surely a force shrinking the job market, and the unemployment it creates is structural.
Click here to read the rest of this article... (224 words, 2 images, estimated 54 secs reading time)
I travel a great deal for my job. It is not unusual for me to be in a hotel 1-3 days a week. I don’t enjoy the travel, but it is part of my life and my employement so I tolerate the effort and inconvenience.
With that travel schedule, I am frequently having a late dinner in the hotel bar. Invariably, I am accompanied by salespeople and business travelers from all over the US. We are sitting in the hotel bar, having a drink, and trying to find something decent on the menu for dinner. We don’t really want to sit in our underwear in our room with room service.
In almost all cases, the hotel bar television is playing a game. That game is a NBA basketball game, a NHL hockey game, or a MLB baseball game. The kicker is that 90% of the time, the game is the local team. It is rarely the best game for the evening, but rather the local team regardless of the sport.
Click here to read the rest of this article... (335 words, 1 image, estimated 1:20 mins reading time)