Money and Computing
Fed Reserve Governor Lael Brainard: Growing above Trend, Sustaining Full Employment and Inflation around Target
Although indicators of economic activity were on the soft side earlier in the year, the outlook for the remainder of 2018 remains quite positive, supported by sizable fiscal stimulus as well as still-accommodative financial conditions. In the latest report, real gross domestic product (GDP) increased 2.2 percent at an annual rate in the first quarter of 2018, a slowdown from the 3 percent pace in the final three quarters of 2017. While the unemployment rate is now lower than before the financial crisis, the employment-to-population ratio for prime-age workers remains about 1 percentage point below its pre-crisis level. It is an open question what portion of the prime-age Americans who are out of the labor force may prove responsive to tight labor market conditions. more »
The Growing Outdoor Recreation Economy: Conservation of Public Lands Helps Small Businesses Thrive
A key element of the growing outdoor recreation economy — which accounts for $887 billion in annual consumer spending and supports 7.6 million jobs, according to the Outdoor Industry Association — are small businesses, especially those that operate in the gateway communities around public lands. Sure, online shopping is convenient, but it’s to a local business that most visitors turn when they need a replacement tent or last-minute supplies before heading out to camp, fish, hunt, or find solace in the outdoors. more »
What Are Common Misunderstandings About Net Neutrality?
The change is from regulating internet providers as “public utilities” to regulating them as most other businesses in the economy. We have had a long experience with public utility regulations where companies and municipalities have provided telephone, electricity and water services across the country. Tight regulation is great for such services that do not experience a lot of change – when was the last innovation in municipal water delivery, for example? With a rapidly changing product such as internet access, it is much tougher to have regulations that benefit consumers both in terms of price and innovation. more »
A UK Law Requires Companies Employing More Than 250 to Report Their Gender Pay Gap: What Does the US Have?
From 2017, any organisation that has 250 or more employees must publish and report specific figures about their gender pay gap. The gender pay gap is the difference between the average earnings of men and women, expressed relative to men’s earnings. For example, ‘women earn 15% less than men per hour'. Employers must both: publish their gender pay gap data and a written statement on their public-facing website report their data to government online - using the gender pay gap reporting service. If your organisation has fewer than 250 employees, it can publish and report voluntarily but is not obliged to do so. more »