Dismal news about the American "jobless recovery" in yesterday's NYT. I've always thought the phrase "jobless recovery" illustrates the perfectly idiotic cognitive dissonance at play in financial thinking. If the thing you use to measure the health of your economy has gone up, but no one has a job, then surely you are measuring the wrong thing to gauge the health of your nation.
The outlook this time is not so clear. Starved for jobs at adequate pay, the millennials tend to seek refuge in college and in the military and to put off marriage and child-bearing. Those who are working often stay with the jobs they have rather than jump to better paying but less secure ones, as young people seeking advancement normally do. And they are increasingly willing to forgo raises, or to settle for small ones.
"They are definitely more risk-averse," said Lisa B. Kahn, an economist at the Yale School of Management, "and more likely to fall behind."
In a recent study, she found that those who graduated from college during the severe early '80s recession earned up to 30 percent less in their first three years than new graduates who landed their first jobs in a strong economy. Even 15 years later, their annual pay was 8 to 10 percent less.
Facebook — which accounts for as much as 75% of the traffic to popular websites — tweaked its algorithm to downrank those same publishers, who had been engaged in an arms-race to dominate Facebook users’ feeds through techniques intended to gain high rank in Facebook’s secret scoring system.
Update: According to The Verge, Facebook has verified the authenticity of the screenshot below. In what appears to be an internal Facebook post, Zuckerberg defends his company’s ongoing association with Peter Thiel — Facebook investor/board member and major donor to white-supremacist/pro-rape presidential candidate Donald Trump.
The UK government says it wants to stop people under 18 from looking at pornography, and so it’s going to make all the porn sites operating in Britain collect some kind of age-verification in order to make this happen, on pain of being blocked by the UK’s Great Firewall.
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