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01 / 05
Watching Television at a Discount Compared to the Past

Blog Post | Economic Growth

Watching Television at a Discount Compared to the Past

A 19-inch television cost the average American 70 hours of labor in 1979. In 2015? Only 3.4 hours.

What’s your favorite TV show? The average U.S. worker has more free time for entertainment and enjoys a far greater variety of available entertainment choices than did previous generations—and all at a discount. Televisions, like so many material goods, have come down in price considerably since 1979, especially when cost is measured in hours of labor. A 19-inch television cost the average American 70 hours of labor in 1979. In 2015? Only 3.4 hours.

So whether you enjoy documentaries, sitcoms, crime dramas, science fiction, or something else entirely, the next time you sit down in front of your television, remember: you’re watching TV at a discount!

BBC | Labor Productivity

How Robots Are Taking over Warehouse Work

“In its warehouses, Asda uses a system from Swiss automation firm Swisslog and Norway’s AutoStore. In the US, Walmart has been automating parts of its supply chain using robotics from an American company called Symbotic.

Back in Luton, Ocado has taken its automation process to a higher level.

The robots which zoom around the grid, now bring items to robotic arms, which reach out and grab what they need for the customer’s shop.

Bags of rice, boxes of tea, packets of crumpets are all grabbed by the arms using a suction cup on the end.”

From BBC.

Axios | Labor & Employment

Average Worker Now Logs off at 4 p.m. On Fridays

“Quitting time has been shifting earlier throughout the week, and it’s especially early on Friday, according to an analysis of sign-off times from some 75,000 workers at 816 companies by the workplace analytics firm ActivTrak.

Friday sign-off times have moved up from around 5 p.m. at the start of 2021 to around 4 p.m. now. Monday-Thursday sign-offs have also shifted earlier, to around 5 p.m. on average.”

From Axios.

Cato Institute | Labor & Employment

Remote Work Is Here to Stay, Mostly for the Better

“As I wrote in a chapter of my recent Cato book, remote work helps employers—especially newer and smaller ones—expand their pool of potential workers, retain the workers they already have, and lower their commercial real estate costs. It can also help workers and employers find better, more productive matches and can boost employment among formerly marginalized workers—outcomes that are good for both the people involved and the broader U.S. economy.

When I wrote that book chapter in mid‐​2022, however, the future of remote work was cloudy: Data on its effects and durability were limited; pandemic‐​era restrictions were (mostly) gone, thus eliminating some of the remote work necessity; companies and workers were still figuring out such details as the proper balance between home and office; and some employers—especially at big, highly visible companies—were calling their workers back into the office full time. All of those factors made whether we were reverting to the old normal or experiencing a new one an open question.

Today, however, we have a lot more information, and it’s increasingly clear remote work is here to stay—and mostly for the better.”

From Cato Institute.

Associated Press | Labor Productivity

Productivity Surge Helps Explain US Economy’s Resilience

“Chronic worker shortages have led many companies to invest in machines to do some of the work they can’t find people to do. They’ve also been training the workers they do have to use advanced technology so they can produce more with less.

The result has been an unexpected productivity boom.”

From Associated Press.