The Gustonomics Podcast

Think Twice Before Taking That Fancy AI Job

Interest and investment in generative AI are booming, and many people are eager to find a job in this new darling of the tech sector. But not so fast, says Liz. She and Caleb discuss a new paper that should give anyone pursuing a career in an emerging technology pause about its long-term impact.
Shownotes
Innovation Booms, Easy Financing, and Human Capital Accumulation [NBER]

Wage Info in Job Postings Ain’t Great

Pay transparency has emerged in small pockets across the country, but it’s far from the norm, and when it does show up, it’s not always easy to interpret. In this episode, Caleb and Liz discuss the quality of wage information in job postings, why it leaves a lot to be desired, and how both employers and job seekers can make the best of it.
 
Shownotes
Pay Transparency Is Anything But Clear [Gustonomics Podcast]Online Job Posts Contain Very Little Wage Information [The Federal Reserve Bank of Minneapolis]

Startup Economics with Alex Wilhelm of TechCrunch

The Gustonomics Podcast kicks off 2024 with its first guest—Alex Wilhelm, the Editor-in-Chief of TechCrunch+ and the co-host of the Equity podcast. Alex and Liz discuss interest rates and their impact on startup financing, why the businesses being started now are so exciting, and what economic policies they would prioritize if they were in charge.
Shownotes
There was a lot of startup and econ jargon in this episode that didn't always get fully explained, so here are some useful links:
Runway
BPS ("bips")
Soft landing
How Low Interest Rates Raise Stock Prices
Burn rate
Risk-on assets
TAM

Ebenezer Scrooge and Milton Friedman walk into a bar…

In the spirit of the season, Liz Wilke looks at an infamous economic paper—The Deadweight Loss of Christmas—that validates all the humbug feelings out there.

Bad Credit? No Problem! (For Now)

Recent headlines have called attention to the rapid rise in credit delinquency rates, which some commentators have suggested is a sign that a credit bubble has popped. Liz explains why all that doomsday talk is overblown.
Shownotes
Credit Card Delinquencies Are Rising. It Isn’t a Problem for Banks—Yet. [Barron’s]
Delinquency Rate on Credit Card Loans, All Commercial Banks [FRED]
Credit Card Delinquencies Continue to Rise—Who Is Missing Payments? [NY FED]
The October 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices [FRB]

Does Consumer Confidence Matter?

If confidence and sentiment were candy and consumer spending, wouldn’t it be a Merry Christmas? Unfortunately, using consumer feelings to predict consumer behavior has long vexed economists everywhere. Liz Wilke explains how to think about a long cherished holiday tradition—consumer confidence.

Small Business and Big Business: Best Frenemies Forever

Talk to any small business owner and they’ll likely have choice words about their big business rivals. They suck up all the talent, they have all the influence, they make all the money, etc. Less talked about is how big businesses help create fertile ecosystems for entrepreneurship. In fact, they may be essential for starting the next generation of successful big businesses. Liz Wilke explains.

The US Workforce Is Going Gray, and That’s OK

The US workforce is getting a little long in the tooth, but there’s a lot that we can like about that. Liz explains what an aging workforce means for businesses and the broader economy.
Show notes
Why labor shortages aren’t going anywhere [Marketplace]
 
Labor Force Statistics from the Current Population Survey [Bureau of Labor Statistics]
More than 1 in 10 people in Japan are aged 80 or over. Here's how its ageing population is reshaping the country [World Economic Forum]
 
‘Massive shift’: Older people will exceed a quarter of G7′s workforce by 2031, report says [CNBC]
2020 GLOBAL EMPLOYER SURVEY OF OECD COUNTRIES [AARP]
Meet the next generation of entrepreneurs. They’re all over 65. [MIT]

The Steady Fed

The Federal Reserve declined to raise its benchmark interest rate in its most recent Federal Open Market Committee meeting. Liz Wilke breaks it all down.

Economic Growth Continues to Pleasantly Surprise

The economy’s performance between July and September shocked observers. Liz breaks down the latest GDP numbers, and what to expect for future growth.