Greg Ip

speaker
528 appearances 8 recordings 1 series first heard Jan 2018 last heard Sep 2024

Greg Ip’s voice in public audio — every appearance, attributed to the second.

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They want to spend more time with a leisure, walking the dog, more time looking after their health.
So they're more likely to take their medical leave and all these things.
They're basically more me time, more family time.
That's essentially what we're seeing.
Well, for one thing, even though the unemployment rate is the same as it was a little more than four years ago, the number of vacancies, the jobs that employers are unable to fill, that's much higher.
So that does tell you that it still seems to be harder for employers to get people to take jobs today than it was four years ago.
And the other thing is that it's not the same across all types of jobs.
The jobs that are hardest to fill are often the ones that require to be there in person.
and to work a very rigid schedule, like working as a cook in a restaurant.
And so when we look at wage data, we find that these in-person, inflexible jobs have seen their wages go up more than, for example, a person who works in IT or a person who works in finance and can do their job from home.
And so that differential, which is roughly 8%, think of that as the in-person premium now that you have to pay to get somebody to come into the workplace.
You're definitely right that in the popular imagination, people say, oh, it's all about young people who don't want to work as hard as we did when we were kids.
Well, I'll tell you this much.
People have been making exactly the same complaints about youth for 2000 years.
I mean, you can actually find quotes by Aristotle saying something like that.
So there's nothing new about like old folks like me complaining about young folks.
And I tell you that when I shared this story thesis with some of my Gen Z colleagues, they did not take kindly to it.
And there are some things that Gen Zers have to put up with today that aren't very nice.
They're the ones who had to bear the brunt of the pandemic right as their careers and lives were getting going.
Oh, definitely that's part of the story.
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