The Gustonomics Podcast

The economy has been incredibly resilient in the wake of the pandemic, strong even. Yet survey after survey continues to show that many people don’t share that perspective. In this episode, Caleb and Liz discuss this phenomenon, the contradictions within it, and how we can separate reality from all the noise.

Anger about the economy is everywhere [Stay-At-Home Macro (SAHM)]

Revisions to economic data are crucial so users of that data have the most accurate and current information possible. Still, recent revisions to the Bureau of Labor Statistics’s monthly job report have been larger than some observers would like. Caleb and Liz discuss the trend and how we can think about them in the broader business climate.

The Employment Situation [BLS]

The economy continues to defy expectations, remaining strong in many fundamental areas despite many warnings of tough times ahead. In this episode, Caleb and Liz discuss the latest jobs report, inflation, interest rates, and the other factors that are keeping the economy in fine shape.

The Employment Situation [BLS]

There’s a widespread belief that Millennials are fickle job-hoppers. And while that may be true, particularly early in their careers, data shows that they’ve been about as likely to change jobs as Baby Boomers were at the same age. Caleb and Liz discuss the trends, possible explanations, and what employers should think about when it comes to hiring and employee retention.

National Longitudinal Surveys [BLS]

Boomers data: https://www.bls.gov/news.release/nlsoy.nr0.htm 

Millennials data: https://www.bls.gov/news.release/nlsyth.nr0.htm 

Job losers as % of total unemployed: https://fred.stlouisfed.org/series/LNS13023622 

Gusto’s third annual New Business Formation report found that the entrepreneurship surge that began during the COVID-19 pandemic continued in 2023. Caleb and Liz discuss some of the report’s key findings, including the impact of artificial intelligence and remote/hybrid work.

2024 New Business Formation Report [Gusto]

Housing is one of the hottest topics in economics right now, and it’s no wonder. It reaches all corners of the country, and countless small businesses are impacted by its effects. In this episode, Liz welcomes one the foremost minds on the subject: Orphe Divounguy, Senior Economist at Zillow.

• Orphe Divounguy [Zillow]
  

A recent analysis of Gusto data by researchers from Stanford University, ITAM, the Hoover Institution and the Gustonomics team found that Americans are living farther away from their employers. Caleb and Liz discuss the findings, what they indicate, and the current state of the remote/hybrid work evolution in America.

Americans Now Live Farther From Their Employers [Gusto Blog]

Americans Now Live Farther from Their Employers [Gusto, Stanford, ITAM, Hoover Institution]

New reports from the Bureau of Labor Statistics—JOLTS and The Employment Situation—show that the economy is….fine. Not bad, but also not great. Employers and workers are both biding their time, an economic phenomenon that Liz has coined as The Great Wait.

JOB OPENINGS AND LABOR TURNOVER – JANUARY 2024 [BLS]

THE EMPLOYMENT SITUATION -- FEBRUARY 2024 [BLS]

There’s been a lot of discussion around marriage in economic circles lately, so Liz and Caleb take up the topic in this episode, putting into perspective for small business owners and entrepreneurs.

Like all fields, economics has a language all its own, and more than its fair share of acronyms. In this bonus episode, Liz explains one of those acronyms--JOLTS--that was in the news lately, what you should know about it, and how it's relevant to business owners.