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☆ 1 in 5 young people in China can't find a job – and that's a big problem for Xi Jinping
▼ + stars: | 2023-07-23 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

China's economy is facing perhaps its biggest challenges since a manufacturing boom sent its economy into overdrive in the last couple of decades. It's comparable to the economy young people in the US faced as they left college in the depth of the financial crisis in 2008/9. While things should get better if the economy rebounds, there's a more existential issue facing China's young people. Yet economic instability among China's young threatens to give him an unwanted headache nonetheless. There are wider existential issues facing young employees the world over, with the AI boom forcing many to completely reassess their skillset and career aspirations.

Persons: Xi Jinping, David Dollar, disenfranchisement, Xi Organizations: Service, Privacy, Reuters, Brookings Institute Locations: China, Wall, Silicon

☆ How AI’s astonishing productivity gains could help curb inflation
▼ + stars: | 2023-07-12 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

Experts say the technology will help address a steep and prolonged slowdown in productivity growth in many Western economies, which has kept businesses’ costs higher than they would otherwise be and made inflation harder to tame. “AI has huge potential to increase productivity,” BlackRock CEO Larry Fink said at the company’s Investor Day last month. Productivity gains in Europe could be similar, albeit slightly smaller, Brynjolfsson told CNN. In some cases, productivity gains could be achieved sooner. That’s because most generative AI tools live on the internet — “the technology we already have on our desks” — making them widely accessible, Brynjolfsson said.

Persons: chatbot, —, Smart, Hannes P Albert, Bill Gates, Larry Fink, Erik Brynjolfsson, ” David McMillan, ” McMillan, Hollie Adams, Neil Shearing, Martin Neil Baily, Anton Korinek, Brynjolfsson, Goldman Sachs, ” Organizations: London CNN, Microsoft, BlackRock, CNN, Stanford University, Organisation for Economic Cooperation, Development, OECD, University of Stirling, Bloomberg, Getty, “, National Statistics, IBM, Capital, Brookings Institute, University of Virginia’s Darden School of Business, America, Productivity, Google, SAP, Goldman Locations: East, Scotland, London, United Kingdom, United States, Europe, Wimbledon

☆ FedNow's instant payments will help reduce fees overdraft fees, says Brookings' Aaron Klein
▼ + stars: | 2023-06-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFedNow's instant payments will help reduce fees overdraft fees, says Brookings' Aaron KleinDan Dolev, managing director at Mizuho Securities, and Aaron Klein, senior fellow in economic studies at The Brookings Institute, join 'The Exchange' to discuss the upcoming launch of FedNow instant payments, how the FedNow system could help close the income inequality gap, and the stock impact of rapid payment systems.

Persons: Brookings, Aaron Klein Dan Dolev, Aaron Klein Organizations: Mizuho Securities, Brookings Institute

☆ Your city could get millions to create jobs under a new Biden plan to put Americans back to work
▼ + stars: | 2023-06-29 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Cities and regions left behind by bygone industries can now apply for funding to revitalize jobs. The Biden administration is opening up applications for its Recompete Pilot Program. Under that program, a handful of "distressed communities" can receive at least $20 million. It's called the Recompete Pilot Program, and it's meant to pump funds into economically distressed areas. According to research from Timothy J. Bartik for the Brookings Institute, nearly a sixth of the country's population lives in distressed communities.

Persons: Biden, —, It's, Biden's, Gina Raimondo, Timothy J, Bartik, Derek Kilmer, it's, Kilmer, what's, Alejandra Castillo Organizations: Service, Economic Development Administration, Brookings Institute, White, Commerce, Economic Development Locations: Scranton , Pennsylvania, Washington

☆ The economic consequences for students during the pandemic 'could be far greater than those of the Great Recession'
▼ + stars: | 2023-06-20 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +3 min

Student "learning loss," could prove to be more economically damaging than the Great Recession. School shutdowns hit Black and Hispanic students harder than White and Asian students. The federal government has given $190 billion to schools in the hopes of mitigating the impact. Districts with a high rate of students experiencing poverty have been worse off, ProPublica reported. The only way to solve this, according to a December 2022 Economic Policy Institute report is to increase pay for teachers and provide more support in classrooms.

Persons: shutdowns, —, ProPublica, Eric Hanushek, Hanushek, It's Organizations: Service, Stanford, Brookings Institute, Gross

☆ Everyone is getting less productive, and that's a big problem for the economy
▼ + stars: | 2023-06-06 | by ( Joe Ciolli | ) www.businessinsider.com time to read: +5 min

Even though the economy feels largely fine right now, such a decline has been a leading indicator of past recessions. Labor productivity has fallen for five straight quarters on a year-over-year basis, the longest such streak on record. Productivity is important to the economy because it's the primary input for a population's standard of living. As Insider reported in March, major retailers like Walmart, Target, and Kroger are locked in a labor-hoarding war over hourly employees that's pushed pay higher. In the meantime, the decline in productivity is setting off alarm bells for the economy.

Persons: —, Taylor Swift, they're, Larry Summers, Summers, Mark Zuckerberg, Marc Benioff, OpenAI's, there's, It's, Paul Tudor Jones, Ed Yardeni, Goldman Sachs Organizations: Service, Airlines, Bureau of Labor Statistics, Labor, Washington Post, Walmart, Target, Kroger, Stanford, MIT, Fortune, Brookings Institute

☆ Watch CNBC’s full interview with Brookings Institute's Michael O’Hanlon
▼ + stars: | 2023-05-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Brookings Institute's Michael O’HanlonMichael O’Hanlon, Brookings Institute senior fellow, joins 'Power Lunch' to discuss the geopolitical climate in Russia's war on Ukraine, the debt ceiling, China-U.S. relations and the G7 Summit.

☆ U.S. signals it will support F-16 training for Ukrainian troops
▼ + stars: | 2023-05-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. signals it will support F-16 training for Ukrainian troopsMichael O’Hanlon, Brookings Institute senior fellow, joins 'Power Lunch' to discuss the geopolitical climate in Russia's war on Ukraine.

☆ As G-7 Summit kicks off in Hiroshima, China and Russia are on everyone’s minds
▼ + stars: | 2023-05-18 | by ( Jihye Lee | ) www.cnbc.com time to read: +5 min

A man rides his bicycle past a "G7 Hiroshima" flower sign at the Peace Memorial Park in Hiroshima, ahead of the G7 Leaders' Summit, on May 17, 2023. (Photo by Philip FONG / AFP) (Photo by PHILIP FONG/AFP via Getty Images) Philip Fong | Afp | Getty ImagesThe annual Group of 7 summit officially kicks off on Friday in Hiroshima, Japan. A sign of G7 Hiroshima Summit is pictured in Hiroshima, ahead of the G7 Leaders' Summit, on May 16, 2023. G-7 finance leaders and central bankers finalized a three-day meeting in Niigata last week. "The U.S. will have a package of sanctions associated with the G-7 statement that will center on this enforcement issue," he told reporters.

☆ Steve Bannon 'swatted' again. The right-wing commentator was live-broadcasting his 'War Room' podcast when the police raided his home.
▼ + stars: | 2023-05-13 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +3 min

Steve Bannon's podcast studio in Washington, DC, was raided live on air by police. Bannon said that this is not the first time he has been raided as a result of a "swatting" call. Listeners of Bannon's "War Room" podcast on Thursday heard a scuffle in the background before the host switched to an ad break. Speaking on his podcast, Bannon said that this is not the first time he has been raided due to a false call. A major study, in February, by the Brookings Institute reviewing the top US political podcasts found that conservative-leaning shows are vastly more likely to include misinformation — with Steve Bannon's "War Room" coming way ahead.

☆ I tried of the best AI productivity tools for a week to make my job easier. Here are the 2 I've kept using, and the 2 that made my life harder.
▼ + stars: | 2023-05-08 | by ( Aaron Mok | ) www.businessinsider.com time to read: +7 min

Labor experts agree that AI tools can make workers more productive. Insider's Aaron Mok tested 4 AI tools for a week to see if they can boost productivity. AI tools like OpenAI's ChatGPT have taken the world by storm — and workers are using them to make their jobs easier. Many experts agree that AI tools can boost productivity, and people have already used ChatGPT and other AI tools to generate articles, write code, and produce real estate listings in attempts to save time. AI tools will not do your job, but they can make it easier if you spend time learning how to use themAfter playing with these tools for a week, I realized that there's a learning curve.

☆ Big Tech jobs are on the line after Google, IBM, and Dropbox say they're leaning into AI
▼ + stars: | 2023-05-06 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

A number of corporations across tech, media, and finance have made major staff cuts this year. At the same, many companies are pivoting to invest more in AI — some even citing it as a reason for cutting jobs. Here are how some major companies are pivoting — and axing jobs — as part of an AI push. At the same time, the focus on AI could mean some jobs are wiped out entirely. It's hard to ignore that AI tools have already become proficient at several professional tasks that once fell under the domain of humans like writing emails, analyzing data, and even coding.

☆ Bank supervision should be taken from the Fed, says Brookings' Aaron Klein
▼ + stars: | 2023-05-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank supervision should be taken from the Fed, says Brookings' Aaron KleinAaron Klein, senior fellow in economic studies at The Brookings Institute, and CNBC's Leslie Picker and Hugh Son join 'Power Lunch' to discuss the regional banking crisis, the Federal Reserve's response, and more.

☆ Silicon Valley Bank: What experts think of US regulators response to the fallout
▼ + stars: | 2023-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSilicon Valley Bank: What experts think of US regulators response to the falloutAaron Klein, senior fellow in economic studies at The Brookings Institute, Raghuram Rajan, professor of finance at the University of Chicago Booth School of Business, and David Bahnsen, founder and chief investment officer of the Bahnsen Group, join 'The Exchange' to discuss the Fed's response to the SVB fallout, bank market risk, and the contagion effect from SVB.

☆ Watch CNBC's full interview with Raghuram Rajan, David Bahnsen and Aaron Klein
▼ + stars: | 2023-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Raghuram Rajan, David Bahnsen and Aaron KleinAaron Klein, senior fellow in economic studies at The Brookings Institute, Raghuram Rajan, professor of finance at the University of Chicago Booth School of Business, and David Bahnsen, founder and chief investment officer of the Bahnsen Group, join 'The Exchange' to discuss the Fed's response to the SVB fallout, bank market risk, and the contagion effect from SVB.

☆ I tried 4 of the best AI productivity tools for a week to make my job easier, but they just made my life harder
▼ + stars: | 2023-03-12 | by ( Aaron Mok | ) www.businessinsider.com time to read: +7 min

Labor experts agree that AI tools can make workers more productive. Insider's Aaron Mok tested 4 AI tools for a week to see if they can boost productivity. Many experts agree that AI tools can boost productivity, and people have already used ChatGPT and other AI tools to generate articles, write code, and produce real estate listings in attempts to save time. We wanted to put some of these AI productivity tools to the test. AI tools will not do your job, but they can make it easier if you spend time learning how to use themAfter playing with these tools for a week, I realized that there's a learning curve.

☆ Republicans want to replace federal taxes with a flat sales tax. It'll either add trillions to the national deficit or you'll have to pay a lot more for everything.
▼ + stars: | 2023-03-02 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Some Republicans want to abolish the IRS and replace most federal taxes with a flat sales tax. However, a report from Brookings finds that the sales tax at the currently proposed rate would add to the deficit. Buddy Carter, who introduced the legislation, said the US "doesn't have a revenue problem, it has a spending problem." "Our country doesn't have a revenue problem, it has a spending problem. This is on top of the $3 trillion that Republicans want to add to the debt with tax giveaways to wealthy tax cheats, Big Pharma, big corporations, and other special interests.

☆ The US military set off its largest nuclear explosion in testing 69 years ago, but scientists had no idea the blast would be that big
▼ + stars: | 2023-03-01 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

Dozens of nuclear tests were carried out by the US in the Pacific between 1946 and 1958. The largest of these was the detonation of the Castle Bravo device on March 1, 1954. It was 1,000 times more powerful than the atomic bomb that leveled Hiroshima during World War II. Castle Bravo was a real 'eyeopener'Despite the devastation caused by Castle Bravo, the US military continued to conducting nuclear weapons testing in the Pacific. The US, UK, and Soviet Union signed the Limited Test Ban Treaty in 1963, which barred nuclear weapons testing in the atmosphere, in outer space, and underwater.

☆ Elon Musk calls US media and schools 'racist against whites & Asians'
▼ + stars: | 2023-02-26 | by ( Lora Kolodny | ) www.cnbc.com time to read: +5 min

Tesla Chief Executive Office Elon Musk speaks at his company's factory in Fremont, California. In the video, Adams discussed a poll conducted by right-leaning Rasmussen Reports that said 26% of Black respondents disagreed with the statement "It's OK to be white." In his video, Adams called Black people who rejected that phrase as a "hate group." He then added, "For a *very* long time, US media was racist against non-white people, now they're racist against whites & Asians. Musk claimed that the media coverage is "Very disproportionate to promote a false narrative."

Black families face unique, racist barriers to creating wealth, from homeownership to business ownership, says Salene Hitchcock-Gear, president of individual life insurance at Prudential. To work towards closing the racial wealth gap and building generational wealth for Black Americans, it's important to understand what obstacles stand in the way. Black Americans face lower median credit scoresWhile the credit scoring system was created to take the bias out of lending, it's become yet another hurdle that prevents many Black Americans from building wealth. The bottom lineAfter many generations of being excluded from wealth-building, Black Americans still face a unique set of challenges stemming from racial discrimination. However, making homebuying and financial literacy more accessible could start to narrow the wide racial wealth gap in the US, and help Black families build generational wealth.

☆ Conservative political podcasts like Steve Bannon's are 11 times more likely to spread lies than liberal ones, study finds
▼ + stars: | 2023-02-10 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

"Conservative podcasters were 11 times more likely than liberal podcasters to share claims fact-checked as false or unsubstantiated," the study said. Fifty-six of the podcasters reviewed shared false or unsubstantiated claims at some point, the study found. In total, more than 70% of the podcasts reviewed shared false claims at some point, including those described as "liberal," "moderate," or "unknown." The study noted that it included far more conservative podcasts in its sample as a result of choosing those that are most popular on Apple Podcasts. The sheer rate of production adds to the issue, it said, with conservative podcasters making longer and more frequent episodes.

☆ Sloppy construction and oversight, not earthquakes, kill people: Think tank
▼ + stars: | 2023-02-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSloppy construction and oversight, not earthquakes, kill people: Think tankAsli Aydintasbas of the European Council on Foreign Relations and visiting fellow at the Brookings Institute discusses the earthquake that hit Turkey and Syria and says she foresees an internal refugee crisis.

☆ Job seekers are using ChatGPT to save time on the most annoying part of an application: the cover letter
▼ + stars: | 2023-02-06 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Job hunters are using artificial intelligence tool ChatGPT to do a tedious task: writing cover letters. In some cases, using ChatGPT to write your cover letter could hurt your chances of landing a role. Some people are using it to secure those jobs in the first place by having OpenAI's chatbot write their cover letters. at how well ChatGPT rendered a cover letter template for an academic job" after she asked the bot to write a cover letter for an assistant professor position. Chatter around ChatGPT cover letters has surfaced lots of debate on the topicThe debate around whether cover letters should be nixed altogether because they could introduce more room for bias aside, using cover letters written by ChatGPT to secure a new job is also controversial.

☆ 7 ways to use ChatGPT at work to boost your productivity, make your job easier, and save a ton of time
▼ + stars: | 2023-02-04 | by ( Jacob Zinkula | Aaron Mok | ) www.businessinsider.com time to read: +3 min

With its impressive functions, the buzzy AI chatbot could give some workers a "productivity boost." Insider compiled a list of seven ways workers can use the AI tool to help do their jobs. But they can help workers across many industries – from tech to media – do their jobs better and more quickly. Workers should be careful when using AI tools, as the tech can be prone to misinformation, and it can remove the human touch from tasks like writing. Here's how you can use ChatGPT and AI to help make your work life easier.

☆ ChatGPT may be coming for our jobs. Here are the 10 roles that AI is most likely to replace.
▼ + stars: | 2023-02-02 | by ( Aaron Mok | Jacob Zinkula | ) www.businessinsider.com time to read: +3 min

Experts say ChatGPT and related AI could threaten some jobs, particularly white-collar ones. Since its release in November of last year, the impressive AI chatbot has been used to write cover letters, create a children's book, and even help students cheat on their essays. But despite its flaws, the rise of ChatGPT has sparked debates over whether it will replace jobs. Insider talked to experts and conducted research to compile a list of jobs that are at highest-risk for replacement by AI. Here are the 10 jobs that AI may replace, based on our research.

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