meta_pixel
Tapesearch Logo
Log in
Post Reports

The YOLO economy paradox

Post Reports

The Washington Post

Daily News, Politics, News

4.45.1K Ratings

🗓️ 9 September 2021

⏱️ ? minutes

🧾️ Download transcript

Summary

What the mismatch between the number of people employed and the number of jobs available tells us about America’s reassessment of work. Plus, how the pandemic has set women in the workforce back globally.  

Read more:

There is a mystery at the center of the economic recovery in the U.S. — 8 million people are unemployed, but there are 11 million jobs open. Senior economics correspondent Heather Long explains that this is all part of the overall rethinking of American life and labor.

There has been a lot of reporting on the impact of the pandemic on women’s careers and livelihoods, especially here in the U.S. But Emily Rauhala and Anu Narayanswamy wanted to look at the problem globally — and what they found is that the pandemic has derailed a slow crawl toward equality for women in the workforce. 

Transcript

Click on a timestamp to play from that location

0:00.0

I feel like I've heard probably you and definitely other people call this the the

0:05.2

YOLO economy. You only live once that life is too short to do jobs that make you miserable

0:11.9

and it's interesting to see that play out now.

0:14.7

Exactly. I've been referring to it as YOLO on steroids. Obviously people knew this basic

0:20.4

mantra before, but the pandemic, the trauma of all of this has just reinforced it for a

0:27.4

lot of people. And that's why not only are we seeing record numbers of job openings, but

0:32.8

this data showing us that nearly a record again in July, it was only topped in April of people quitting

0:40.1

their jobs. So even people who have employment are really rethinking, is this the place I want to be?

0:50.7

From the newsroom of the Washington Post, this is Post Reports.

0:54.3

I'm Martin Powers. It's Thursday, September 9th. Today we're talking about how the pandemic has

1:01.2

fundamentally changed so much about work and the economy around the world and here in the US.

1:07.8

One sign of that is this weird paradox that there are so many unemployed Americans right now

1:14.4

and so many job openings. So theoretically, those unemployed people should be filling those jobs,

1:21.3

but they're not. They're basically 80 unemployed people for every 100 jobs or 1.25 job openings

1:31.7

for every unemployed American. That's Heather Long, economics correspondent for the post.

1:37.3

And she says that this mismatch is probably going to continue for a while, even after millions of

1:43.6

people lost unemployment benefits this past weekend. Both workers and workplaces are reassessing

1:50.4

everything right now. We're in this really weird scenario where the Delta variant recently is

2:04.4

causing a lot of havoc for many people. It made a lot of people hesitant to travel, hesitant to

2:10.0

go back to the office. A lot of companies had pushed back the deed, including the Washington Post

2:14.9

when they're mandating that employees return to work. But even beyond those COVID impacts, which we

2:20.7

know still exist, my team and I as we dug into the details, we found a couple of things that I would

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from The Washington Post, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Washington Post and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.