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Diversifying the dismal science

Diversifying the dismal science Jul 26,2021 - Last updated at Jul 26,2021 BOSTON Although economics uses mathematical models and machine-learning techniques, it is still a social science. But compared to most other disciplines, the profession does not even come close to representing the societies we live in. In the United States, women received only 32 per cent of US PhD degrees in economics in 2018, compared to 57 per cent in other social sciences and 41 per cent of doctorates in science and engineering. Worse still, black and Hispanic economists accounted for just 3.7 per cent of newly minted economics PhDs considerably lower than their combined share of doctorates in other social sciences (14 per cent) and in science and engineering (8 per cent).

Diversifying the dismal science

Employers Are Hiring More Teens to Ease Labor Shortages

Why are childcare costs in Britain so exorbitant?

How much does childcare cost? According to the Money Advice Service, the average cost of a full-time nursery place in the UK is £263 a week, and £138 a week for part-time care (though these figures will look strikingly low to many parents in London and the south of England). So if you have two young children, that’s an average of £526 – or not far off the median salary of £585 a week. “I have been paying for full-time childcare for almost 14 years,” says Isabel Oakeshott in The Spectator – and like most people I have tried to remain “in denial about the crippling cost”. After totting up the total payments, it came to at least £500,000 – and counting. Going for a nanny instead isn’t that attractive either – an average salary of £35,000, plus all the hassle involved in becoming an employer.

For American teenagers looking for work, this may be the best summer in years

As companies try to go from hardly staffed to fully staffed practically overnight, teens appear to be winning out more than any demographic group. The share of 16- to 19-year-olds who are working has not been this high since 2008, before the unfolding global financial crisis sent employment plummeting.