The incredible shrinking stock market
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 13 May 2024
⏱️ 9 minutes
🧾️ Download transcript
Summary
This year, the Dow and S&P have repeatedly hit record highs. But even as the value of the stock market grows, the number of firms traded on the market is shrinking, and has been since the mid-1990s. And when fewer companies are public, it limits our understanding of what’s happening in the economy. Plus, a preview of wholesale inflation and retail sales, and a closer look at the impact of RTO mandates.
Transcript
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| 0:16.9 | We need you now. One generous marketplace fan, Dr. Joe Rush from Florida, is offering to match the next $50,000 in donations to marketplace. And every single gift gets us closer to a critically important May fundraising goal. Give right now and double your impact. |
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| 0:24.0 | The latest on, if I can't work from home, I quit. |
| 0:30.0 | I'm David Brancaccio in New York. |
| 0:32.8 | Orders for employees to return to in-person work is costing companies some top talent. |
| 0:38.6 | That's the key finding from a new study out of the Universities of Michigan and Chicago. |
| 0:43.4 | Marketplace's Henry Epp joins us now. |
| 0:45.9 | The study focused on three top tech firms, Microsoft, Apple, and SpaceX, |
| 0:50.3 | all of which started requiring employees to come back to work in person at least part time in 2022 |
| 0:55.6 | and it found that when those mandates came down senior level employees left at higher rates. |
| 1:00.3 | The study found a decline of about five percentage points in the share of senior workers at both Apple and Microsoft about 15% at SpaceX |
| 1:07.3 | And those employees who have lots of experience in institutional knowledge can be harder to replace and the study found they often went to work |
| 1:14.2 | for competitors. So while a lot of return to work mandates have been based on this |
| 1:18.0 | idea that they'll improve a company's productivity and innovation, this study |
| 1:21.8 | challenges that and shows at least one way they can hurt. and how many office workers are going back to working in person? |
| 1:34.0 | Yeah, so one measure of this comes from a company called Castle, which operates security |
| 1:37.8 | systems for office buildings, and they found that about 50% of workers are coming into the office |
| 1:42.4 | on average. The number varies by |
| 1:44.4 | city and by the day of the week, but it's hovered around 50% for about a year now and |
| 1:49.1 | that means lots of people are still working from home at least a few days a week. |
| 1:52.6 | And we should of course keep in mind that plenty of workers in this economy |
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