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Recessions Actually Make People Live Longer
  + stars: | 2024-03-19 | by ( Aki Ito | ) www.businessinsider.com   time to read: +6 min
Recessions, it would seem, help us stay fitter, and live longer. The new paper, along with other research into recessions, provides an important reminder that economic growth isn't — and shouldn't be — the only measure of our collective well-being. If recessions save lives, that comes with a corollary: Boom times cost lives. Sure, economic growth provides jobs. If the new research tells us anything, it's that we still have a long way to go in striking a healthy balance between economic growth and social welfare.
Persons: grads, Amy Finkelstein, didn't, that's, Aki Ito Organizations: Business Locations: Japan, San Francisco
Many workers are willing to take pay cuts, increase working hours, or give up benefits for remote work. AdvertisementIt turns out that remote work is still valuable — at least for prospective employees. And they're willing to pay for that ability: Half of workers surveyed said they would take a pay cut for the policy. AdvertisementA majority of workers also reported being willing to move elsewhere for work if given the chance to work remotely. AdvertisementJay, an elder millennial, previously told Business Insider that he took a $35,000 pay cut so he wouldn't have to live near his office.
Persons: , they'd, Millennials, that's, Nick Bloom, Jay, Insider's Aki Ito Organizations: Service, Stanford, WFH Research, Workers, Harvard Locations: Washington
The rise of the job-search bots
  + stars: | 2024-03-05 | by ( Aki Ito | ) www.businessinsider.com   time to read: +18 min
Unlike the other bots, which ingested job openings into their own sites, LazyApply submitted applications via external job boards. AdvertisementUnlike the other bots, LazyApply did all the applying in real time, right in front of my eyes. Hugo Herrera for BISo far, though, it looks like the arrival of job bots is only making the problem worse. But the job bots at LazyApply and other services never get tired. Still, I came away from my time among the job-search bots feeling the way I do about much of AI.
Persons: they're, hadn't, Sonara, Hugo Herrera, LazyApply, American Aki, Aki Ito, Carlson, Boston Globe —, CareerBuilder, Tony Riggins, I've, Teal, Marc Cenedella, Cenedella, John Henry, , didn't, it's, Bob, you'd, Emily Lamia, Lamia, she's, underpaid Organizations: BI, AK, Boston Globe, Employers, Bloomberg, The Boston Globe, Facebook, YouTube, Business Locations: America, American, That's
When Tessa Hulls set out to write a book about three generations of women in her family, she had few illusions about how hard the task would be. The tale was geographically sprawling, and spanned a century: Her grandmother Sun Yi, a journalist in Shanghai, fled China for Hong Kong in 1957, then slowly went mad; her mother, Rose, attended an elite boarding school in Hong Kong founded in part for the mixed-race children of European expatriates, then moved to the United States in 1970. Much of her family’s story was accessible only via her grandmother’s memoir, a best seller published in Hong Kong and written in Mandarin — a language that Hulls, who was born and raised in Northern California, could not read — and through her mother, whom Hulls had spent a lifetime running away from.
Persons: Tessa, Sun Yi, Rose Locations: Shanghai, China, Hong Kong, United States, Northern California
When Mark Doox entered an Eastern Orthodox monastery in Texas in 1987, he thought he might have a calling as a monk. “It was almost like a physical vision,” he said. Doox decided then and there to become an iconographer. But as a Black man who came up in the 1960s, Doox wrestled with the racism he experienced in society and the church — and with the prospect of creating icons of a white Jesus. “I thought, wouldn’t it be wonderful to be able to express this spirituality, but dealing with the existential quandaries of what it means to be Black in America?” he said.
Persons: Mark Doox, Jesus Christ, Virgin Mary, , Doox, Locations: Eastern, Texas, America
A better way to handle layoffs
  + stars: | 2024-02-20 | by ( Aki Ito | ) www.businessinsider.com   time to read: +11 min
Out of everything that happens in the workplace, nothing underscores the harshly transactional nature of employment more than the way companies terminate their employees. To be sure, there are times when layoffs are necessary for the health — and even survival — of a company. In other words, the pitiless and coldhearted way businesses handle dismissals isn't just destructive to those who get dismissed. Is there a better way to handle layoffs? For starters, Herd says, managers should look the employees they're dismissing in the eye, rather than reading from a script.
Persons: TikTok, Brittany Pietsch, she'd, isn't, Pietsch, they're, you've, — they're, Slack, it's, Sandra Sucher, Sucher, pare, Ashley Herd, Herd, , Reagan, Aki Ito Organizations: Mafia, Harvard Business School, Nokia, Business
On the agenda today:AdvertisementBut first: Job anxiety is gripping the once-cushy Big Tech industry . ReutersDispatchA Big Tech reckoningWondering what happened to the free lunches and merch in Big Tech? The acronym, which stands for Zero Interest Rate Phenomenon, has become Silicon Valley shorthand for a changed workplace. Whereas before Big Tech companies couldn't hire quick enough, now it's laser focused on reducing layers . AdvertisementBut amid increased competition, an end to cushy perks, and the risk that they might wake up one day to find their office badge no longer works, many working in Big Tech feel … well, a little less special .
Persons: Gen, Aki Ito, she'd, Gen Xers, David Vades Joseph, Rob Dobi, doomsayers, they're, Jake Epstein, Scott Stapp, Matt Turner, Dan DeFrancesco, Jordan Parker Erb Organizations: Business, Big Tech, Reuters, Microsoft, Meta, BI Boomers, US Navy, Navy, Phoenix Locations: Big Tech, Big, Red, New York
And it could explain why Gen Z workers are so much more unsatisfied with their jobs than their older colleagues. Age plays a role in explaining the gap, but Gen Z is also entering the workforce at a unique time. In EY's 2023 Gen Z survey, more than 50% of Gen Zers said they were "extremely worried about not having enough money." For much of Gen Z, a job is just a job. In a Deloitte study from March, only 61% of Gen Z participants said their work was important to their identity.
Persons: Kimi Kaneshina isn't, Wyatt Co, Xers, Zers, millennials, Gen Zers, Aki Ito, That's, Kaneshina, Julia Kensbock, Kensbock, haven't, Kensbrock, , Gen Z, Corey Seemiller, Seemiller, Felizitas, Z Organizations: Pew Research, Research, Business, University of Bremen, Bain, Co, Workers, Employers, Labs, CFA, LaSalle Network, Wright State University, YouTube, LinkedIn, Deloitte Locations: Southern California, Germany, TikTok, Felizitas Lichtenberg
What I got wrong about loyalty at work
  + stars: | 2024-02-12 | by ( Aki Ito | ) www.businessinsider.com   time to read: +8 min
In the story, I wrote that people seem to divide into two groups when it comes to the decline of workplace loyalty . To my surprise, a lot of older readers took issue with getting lumped into the pro-loyalty camp. Someone else wrote, more gently, "While I feel you're spot on with most of your facts you've got gen x all wrong." They added: "My generation leads in workplace dissatisfaction and realized 2 decades ago that there was no more corporate loyalty." There isn't a generational divide over workplace loyalty, these readers were telling me.
Persons: Gen Xers, Gen Zers, I'd, Readers, X, Gabriel, he'd, I'm, they've, I've, , Gen, isn't, Aki Ito Organizations: Business Locations: American, America, TikTok
Christopher Nolan and Robert Downey Jr. have each worked on some of the most lucrative and beloved superhero films of our time, many of them with enormous star-filled casts, so how is it that the two had never worked together on a movie before now, superhero or otherwise? Their paths crossed, sort of, on “Batman Begins” (more on that later). Among those nominations are three for Nolan, 53, for best picture, best director and best adapted screenplay, and a best supporting actor one for Downey, 58, for his performance as Lewis Strauss, the title character’s Salieri-like nemesis. The nominations are hardly their first — counting “Oppenheimer,” Downey has received three, Nolan, eight — but neither has ever won before and now they’re both considered front-runners. The day after the Oscar nominations were announced, the two got together on the Universal studio lot to talk about how they first met, what winning an Oscar would mean to them, and why so many people didn’t notice that that balding, sweaty guy who had it in for Oppenheimer was actually Robert Downey Jr.
Persons: Christopher Nolan, Robert Downey Jr, “ Oppenheimer ”, Nolan, Downey, Lewis Strauss, character’s Salieri, Oppenheimer, ” Downey Organizations: Universal Locations: New Mexico
A special investigative committee found irregularities during horsepower output testing for the certification of three diesel engine models. Ten models use the affected engines globally, Toyota (TM) said, including the Hiace van, Fortuner SUV, Innova multi-purpose vehicle and Lexus-branded LX500D SUV. The company said it would take measures such as running new engine certification tests in the presence of regulators as needed. The company holds a near 25% stake in Toyota Industries, which is a key Toyota group company. Shares in Toyota Industries sank into negative territory shortly after the news and ended down 4%.
Persons: Koichi Ito Organizations: Toyota, Cruiser, Toyota Industries, Lexus, world’s, Daihatsu, Toyota Motor, Mar Locations: Tokyo, Aichi prefecture
NEW YORK (AP) — Lorrie Moore, Naomi Klein and the Egyptian writer Ahmed Naji are among the finalists for National Book Critics Circle awards. Honorary prizes are going to Judy Blume and to a longtime ally of Blume's in the fight against book bans, the American Library Association. On Thursday, the critics circle announced nominees in seven competitive categories, ranging from fiction to debut book to best translation. The other fiction nominees are Justin Torres' “Blackouts,” winner of the National Book Award last fall; Teju Cole's “Tremor,” Daniel Mason's “North Woods”; and Marie NDiaye's “Vengeance Is Mine,” translated from the French by Jordan Stump. The book critics circle, founded in 1974, consists of hundreds of reviewers and editors from around the country.
Persons: — Lorrie Moore, Naomi Klein, Ahmed Naji, Judy Blume, Blume's, Moore, , Justin Torres, ” Daniel Mason's “, Marie NDiaye's, Jordan Stump, Grace E, Tina Post's, ” Nicholas Dames, , Myriam Gurba's, Naji, Katharine Halls, Matthew Zapruder's “, ” Susan Kiyo Ito's, David Mas, Patricia Wakida, Jonathan Coe's Martin Luther King, Gregg Hecimovich, Hannah Crafts, Anna, Rachel Shteir's, Betty Friedan, Jonny Steinberg's, Winnie, Nelson, Saskia Hamilton's “, ” Kim Hyesoon's, ” Romeo Oriogun's, Robyn Schiff's, Kareem Abdulrahman, Natascha Bruce, Dorothy Tse's ”, Don Mee, Kim Hyesoon's, ” Todd, ” Maureen Freely’s, Tiffany, Indonesian Norman Erikson Pasaribu's, John Leonard, Ariana Benson's, ” Emilie Boone's, ” Victor Heringer's “, ” Tahir Hamut Izgil's, Donovan X, Martin J, Siegel's, Blume, Becca Rothfield, Marion Winik Organizations: American Library Association, Rotten, PEN America, U.S, Washington Locations: Egypt, Indonesian
In “Expats,” the actress Ji-young Yoo, a relative newcomer to Hollywood, shares the screen with Nicole Kidman, the Oscar- and Emmy-winning actress and producer. Yoo plays Mercy, a Columbia grad and would-be babysitter for the young son of Kidman’s Margaret, a former landscape architect and a mother of three living, none too happily, in Hong Kong. When Mercy loses her charge in a moment of distraction (yes, she was texting), it sends Margaret into — well, just imagine how Nicole Kidman might react if, say, you were texting and you lost her child. “When I watch the scenes with me and Nicole, it still feels like I was Photoshopped in,” she said in an interview last month. Premiering on Friday, the Amazon series tells the story of three women, all of them expatriates, living in Hong Kong amid the 2014 Umbrella Movement protests.
Persons: “ Expats, Ji, Yoo, Nicole Kidman, Mercy, Kidman’s Margaret, Margaret, , , Nicole, Kidman, Lulu Wang’s Organizations: Hollywood, Columbia Locations: Hong Kong, , Moulin Rouge
The end of workplace loyalty
  + stars: | 2024-01-22 | by ( Aki Ito | ) www.businessinsider.com   time to read: +16 min
Do that, and you generate the kind of trust and loyalty that leads to high productivity and low turnover. A world in which the psychological contract is profoundly broken. In the three decades following World War II, as Rick Wartzman documents in his book " The End of Loyalty ," a booming economy made American companies rich. Today, disillusioned workers might assume that the norm of workplace loyalty was nothing but a capitalistic ruse, a way for companies to exploit their employees. But the new loyalty would recognize that employees have to uphold their end of the bargain.
Persons: I've, Gen Xers, Gen Zers, they'll, Rick Wartzman, Wartzman, Denise Rousseau, Rousseau, who's, Mark, , it's, I'm, he's, quitters, Nick Bloom, Stanford University who's, Anthony Klotz, Klotz, they're, It's, Aki Ito Organizations: Companies, Kodak, GE, Carnegie Mellon University, Stanford University, University College London, Employers, Business
In today's big story, we're looking at how there's no more loyalty in corporate America between employers and their workers. Business Insider's Aki Ito, who has covered workplace trends better than anyone, dove into the deterioration of loyalty in corporate America. The best example of the deterioration of loyalty in corporate America these days is in Big Tech. AdvertisementOne year later, Big Tech's layoffs are back and could become the new normal, Business Insider's Peter Kafka writes. However, the best representation of the growing employee-employer chasm in Big Tech is at Google.
Persons: , hustleharder, Insider's Aki Ito, they're, Insider's Peter Kafka, Kali Hays, BI's Eugene Kim, Ashley Stewart, Long, Sundar Pichai, BI's Hasan Chowdhury, Brian Moynihan, Moynihan, Laura Labovich, Asher, Emerson, Bill O'Leary, there's, Frederic J . Brown, haven't, Christian Dior, Dan DeFrancesco, Diamond Naga Siu, Hallam Bullock, Jordan Parker Erb Organizations: Service, Big, Workers, Amazon MGM Studios, Big Tech, Google, OsakaWayne, Investment, New, Bank of America's, Fed, Washington, Getty, Meta, OpenAI Mafia, Shoppers, Spotify, Couture, United Airlines, The, Business Locations: America, Big Tech, Big, Bethesda, That's, Paris, New York, San Diego, London
Now, though, a massive new study published in the journal Nature has shed new light on the effect of remote work on innovation. Even though remote work is a relatively new development in corporate settings, scientists and inventors have been collaborating over long distances for decades. On remote teams, by contrast, the more established collaborators tended to come up with the original idea on their own. And just because remote collaboration didn't work for innovation in the past doesn't necessarily mean it won't work in the future. But the study's findings — given the remarkable sweep of the data it examined — do suggest some guidance for companies in the age of remote work.
Persons: haven't, Carl Benedikt Frey, Frey, Watson, Crick's, they'll, who's, Slack, you'll, we're, Aki Ito Organizations: Netflix, Oxford University, University of Pittsburgh pored, Oxford, Duke University, Business Locations: Silicon Valley
AdvertisementI asked Merchant for his perspective on how history informs how we should think about AI and labor. AdvertisementTake the clothworkers: skilled weavers made really high quality cloth and framework knitters made stockings that were nice and durable. Just about everyone loses except the factory owners, who profit from churning out more shoddily made stuff at a rate that the skilled workers can't compete with. AdvertisementBased on your understanding of history, what are the chances that AI helps people by lowering the gap between lower skilled and higher skilled workers? Now, as then, the vast, vast majority of the time, AI absolutely cannot replicate a good writer or worker's output.
Persons: , Insider's Aki Ito, Brian Merchant, Merchant, Aki Ito, Aki, coders, Ian, it's Organizations: Big Tech, Service Locations: England
AI is shaking up the workplace and freeing junior employees from monotonous tasks, Bloomberg reports. Major consulting and law firms are using AI to do tasks typically given to junior workers. This saves time for junior workers, letting them take on projects and get promoted more quickly. AdvertisementAI is changing the way that junior employees at major consulting and law firms work. It usually takes junior workers at law firms and major consulting companies at least a decade to work up to the partner position, according to Bloomberg.
Persons: , Business Insider's Aki Ito Organizations: Bloomberg, Service, KPMG, Business
The numbers have prompted AI optimists to predict an economic boom and AI pessimists to worry about a future of fewer jobs. The question isn't how much AI helps out around the office but who it helps — and why. AI, in other words, is raising overall productivity by narrowing the gap between high performers and low performers. Researchers tasked people to write a short story, with and without the help of an AI tool for generating ideas. A few enterprising employers will go all in on hiring job candidates with less experience and boosting their performance with AI.
Persons: I've, optimists, It's, coders, it's, Bolt, it'll, we'll, isn't, We've, there's, Aki Ito Organizations: Software, Management, Law, Business Locations: United States
A 48-year-old began secretly working three full-time remote jobs last year, earning a combined $344,000. He was laid off from two of his jobs in October — and said this is why he sought out extra job security. Last year, Joseph earned a combined $344,000 working three full-time remote jobs at the same time, according to documents viewed by Business Insider. While working three jobs has been life-changing for him and his family financially, he said balancing emails and meetings — and keeping his other jobs a secret — was becoming unsustainable. Joseph said he managed to juggle three jobs for over a year by blocking off his work calendars to prevent meeting overlaps.
Persons: , Joseph, it's, he's, BI's Aki Ito Organizations: Service, Business Locations: Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of Japan still isn't confident about achieving sustainable inflation, professor saysTakatoshi Ito, professor of international and public affairs at Columbia University, says the central bank views wage hikes as key to reaching its "sustainable 2% target" for inflation.
Persons: Takatoshi Ito Organizations: Email Bank of Japan, Columbia University
Air quality during 2023 Cricket World Cup matchesChart categorises the 2023 cricket World Cup matches held in 10 Indian cities by the air quality observed during the matches they hosted. Twenty matches were held in ‘unhealthy’ air quality, 11 in air that was ‘unhealthy for sensitive groups’, 12 in ‘moderate’ air quality and only two in ‘good’ air quality. Average 24-hour PM 2.5 levels on all cricket World Cup match days between 1983 and 2019Chart shows average PM 2.5 concentration on match days at places that hosted a cricket World Cup match between 1983 and 2019. Of all the regions that have ever hosted a cricket World Cup match, the Indian subcontinent has seen the most polluted air. Map shows average annual PM 2.5 levels in 2019 across the world and locations that have ever hosted a cricket World Cup match.
Persons: Delhi’s Arun, Arun Jaitley, ITO, Chandika Hathurusinghe, Joe Root, Ben Stokes, Suranga Lakmal, Mohammad Shami vomited Organizations: Sri Lankan, teams, Arun, ITO, Labs Inc, . Environmental Protection Agency, Delhi, United States Environment Protection Agency, U.S . Environmental Protection Agency, World Health Organization, Indian, Matches, Daily, International Cricket Council, Endurance Locations: New Delhi, Delhi, Lahore, Pakistan, Australia, Netherlands, India, ITO, Sri Lanka, England, Indian, Mumbai, Bengaluru, Kolkata, Sri Lankan, U.S, Canberra, United States, China, Bangladesh
There's a secret world of "overemployed" people who are holding down multiple high-paying jobs. "Overemployed" workers use their own language and codenames on Reddit. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Taking on multiple jobs to make ends meet isn't new, but these are professionals, often making large salaries, who are making hay in the remote work sunshine. Facebook mom groups talk about DH (dear husband) or LO (little one, or kid); and on looksmaxxing TikTok they talk about mogging (being more handsome than someone else).
Persons: , Insider's Aki Ito Organizations: Meta, IBM, Service, J3, RJ
Holding down multiple jobs has long been a backbreaking way for low-wage workers to get by. They freeze their employment histories with Equifax and hibernate their LinkedIn profiles, so employers can't see they're holding multiple jobs. Those with multiple jobs also seek out positions they hope will be OE-friendly — light on meetings, as well as on the workload. There's another incentive: Unlike most Americans, those who work multiple jobs don't have to worry about layoffs. There's something radical that happens to a worker's psychology when they have multiple jobs.
Persons: Bryan Roque, He'd, Roque, I'm, Isaac, Reddit, commiserate, he'd, it's, they're, , Tyler Le, George, who's, I've, Allison, Cole, he's, Matthew Berman, hasn't, Meta, Tinder, jugglers, Taylor, they'll, normies, Redditor, she'd, she's, Aki Ito Organizations: Amazon, IBM, Meta, Financial Independence, J1, McKinsey & Company, J2 Locations: Meta, Tinder, New York, California, Meta's, tatters
Celebrating Literature That ‘Brings the World Close’
  + stars: | 2023-11-02 | by ( Robert Ito | ) www.nytimes.com   time to read: +1 min
Words Without Borders, one of the few magazines in the world dedicated to literature in translation, is turning 20 at a fraught time: Around the world, wars are raging. Writers are being jailed, dissident voices silenced and books banned. The answer, said Karen M. Phillips, the magazine’s executive editor and publisher, was right there, baked into their mission — to gather and celebrate international literature, and in doing so, strengthen the connection between readers and writers around the world. “Literature is a really powerful space for imagining new ways forward, or thinking through situations that are impossible if you take them head on as facts,” she said. “We’re always publishing contemporary writers who are reflecting, through their literature, the events and crises of the world.”
Persons: Karen M, Phillips, , “ We’re
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