The YOLO economy paradox
Post Reports
The Washington Post
4.4 • 5.1K Ratings
🗓️ 9 September 2021
⏱️ ? minutes
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| 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 |
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