Top 15 states by App Economy jobs (thousands)
California 408
Texas 239
Washington 137
New York 136
Florida 129
Pennsylvania 114
Illinois 90
Virginia 83
Georgia 81
Massachusetts 81
Colorado 75
Ohio 74
North Carolina 74
New Jersey 69
Minnesota 62
https://t.co/uJ6U5KYiFd
The relative price of digital goods and services is falling at a rapid pace. Companies that were reluctant to digitize in a low-inflation environment now may be forced to take the big step.
https://t.co/leLLqqji59
https://t.co/n7okUqIFf8
In particular, I'm thinking of all the brilliant folks who were pulled into crypto who could be transforming the other 95% of the economy by applying AI and other amazing digital technologies
Low digital inflation is making tech investment look increasingly appealing for cost-conscious companies. That suggests that the tech boom will continue, despite a wave of sector layoffs.
https://t.co/leLLqqji59
"I think what we're going to find is that we're going to have a lot of other challenges that come up for which having a strong biosciences capacity is absolutely essential," says economist @michaelmandel in conversation with TPN member @JimPethokoukis.
https://t.co/qOF5ayWF4N
More broadly, jobs in the consumer distribution sector (retail+delivery+fulfillment) as of Sept 2021 were revised up by 324K, while jobs in the overall private sector as of Sept 2021 were revised down by 350K.
Ecommerce has become a massive job creation machine.
Revisions to the job numbers highlight the growing economic importance of ecommerce. The jobs report released a year go showed 1481K warehousing jobs in Sept21.
The report released today shows 1684K warehousing jobs in Sept21 (revised). That's a revision of 14%, or 200K. /1
This week, TPN member @JimPethokoukis sat down with @michaelmandel, chief economist at @ppi, to discuss the role of tech companies in the American economy.
https://t.co/dRNrFBENER
Since Feb20, the consumer distribution sector (retail+delivery +fulfillment) has added 650K fulltime-equivalent jobs (FTE).
Thus, the shift to ecommerce has been a net job producer. This important fact helps show the way out of the great job dilemma.
https://t.co/W6xC4BZasd
Technology and e-commerce companies have a reputation for driving creative destruction but are also a source of high-wage job growth.
@michaelmandel of @ppi joins @JimPethokoukis to discuss the role of tech companies in the American economy.
Listen here:
https://t.co/Ijlvq5B7fp
Low digital inflation continues. Yoy from this morning's report
Wireless prices down 0.6%
Smartphone prices down 20.4%
Recorded music and music subscription prices down 0.6%
It's almost as if there was competition and productivity growth in the digital sector /s
New on Slow Boring — I talked to Janet Yellen about her big speech this week, Bidenomics, and her vision of a modern supply-side agenda.
https://t.co/aZJIcBmH1l
Changes in the environmental, social and governance (ESG) ratings of a firm can have "long-lasting effects" on stock returns, according to academic research: https://t.co/CxhlWs4s7u
Digital Inflation stayed low in July. For example, internet access charges fell by 1.1% in the year ending July22, and ecommerce margins fell by 7.9%.
Overall, the unweighted mean y-o-y price increases for 13 digital goods and services was only 1.9%