The Chart of the Matter
These days we measure everything: steps, likes, gender-reveal destructive capacity. But our measures of presidential performance are woefully primitive. Approval ratings, jobs and stock prices? Please. Save it for the kindergartners.
Actually, uh, those are still pretty good measures. But Bloomberg Opinion writers swim in deeper data waters. To mark President Joe Biden’s first 100 days, they have hauled up from the abyssal depths 17 shiny metrics that will tell a much fuller story of the next 1,366 days of Biden’s term. From
Rhonda Vonshay Sharpe’s gender-wage gap to
Tyler Cowen’s used-car prices,
Karl Smith’s visa backlog to
The jobs are here. Where are the workers? The Week Staff
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Daily business briefing
A surprising labor shortage represents the next economic conundrum, said Peter Coy at
Bloomberg Businessweek. At last tally, 6 percent of the population, or 9.7 million Americans, were unemployed and actively looking for work. But many businesses say they are finding hiring extraordinarily hard. The National Federation of Independent Businesses reported earlier this month that 42 percent of small businesses surveyed said they had jobs they couldn t fill, compared with an average of 22 percent since 1974. Fear of contracting COVID is clearly part of the problem. But there is also concern that workers have lost the desire to hustle. Instead of returning to their pre-COVID jobs, some workers are telling employers they re better off unemployed.
SPACs and Coins May Break Our Bones
The good thing about mystery boxes is that you don’t know what’s in them. There could be something great inside, like cash or a puppy. Unfortunately, that’s also the bad thing about mystery boxes. There could be something lame inside, like socks.
Then there are the mystery boxes known as SPACs blank-check companies into which you pour money hoping a pleasant surprise comes out. Sometimes a SPAC will even tell you what’s inside the box, but you still don’t get what you expected. This is looking like the case for a company called Canoo, a candidate for the Most SPAC Name Ever. It sadly doesn’t make electric canoes but other kinds of electric recreational vehicles. It went public via SPAC late last year but just a quarter later “deemphasized” a major revenue stream, despite still being revenue-challenged. It also shuffled management and suggested its past statements about business relationships could have been a little less ho
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