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Nov. 8, 2017

Industries regulated under California’s cap-and-trade program reduced greenhouse gas emissions by nearly 5% in 2016, according to new data released by state officials. Richard Corey, executive director of the California Air Resources Board, said the numbers show the state is on track to meet its emission-reduction targets in 2020 and 2030.

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Nov. 8, 2017

From December 2016 to March 2017, gross job gains from opening and expanding private-sector establishments were 7.3 million, a decrease of 127,000 jobs over the quarter, the U.S. Bureau of Labor Statistics reported today. Over this period, gross job losses from closing and contracting private-sector establishments were 6.7 million, a decrease of 391,000 jobs from the previous quarter. The difference between the number of gross job gains and the number of gross job losses yielded a net employment gain of 654,000 jobs in the private-sector during the first quarter of 2017. (See tables A and 1.)

News
Nov. 8, 2017

There is no firm estimate on the number of people who live in vehicles in Silicon Valley, but the problem is pervasive and apparent to anyone who sees RVs lining thoroughfares; not as visible are the cars tucked away at night in parking lots. Advocates for the homeless say it will only get worse unless more affordable housing is built. The median rent in the San Jose metro area is $3,500 a month, yet the median wage is $12 an hour in food service and $19 an hour in health care support, an amount that won’t even cover housing costs. The minimum annual salary needed to live comfortably in San Jose is $87,000, according to a study by personal finance website GoBankingRates. So dilapidated RVs line the eastern edge of Stanford University in Palo Alto, and officials in neighboring Mountain View have mapped out more than a dozen areas where campers tend to cluster, some of them about a mile from Google headquarters.

News
Nov. 7, 2017

Luxury electric carmaker Tesla this week acquired a small, Minnesota-based factory automation company, in hopes of fixing unexpected bottlenecks on its Model 3 production line. Perbix launched in 1976 and employs 150 people in a suburb north of Minneapolis. Tesla said it’s worked with the engineering firm for nearly three years, on a number of projects on the production line at its Fremont car factory and its Gigafactory in Reno. Terms of the deal were not immediately released.

News
Nov. 7, 2017

A key moment in the modern myth-making around small business came in 1978. That’s when MIT economist David Birch published claims – which he repeated in testimony before Congress – that small firms had accounted for 80 per cent of all new employment opportunities between 1968 and 1976. Critics quickly pointed out that Birch’s findings were quite wrong, largely because he defined firm size according to how many employees worked in a given location (like a branch office, factory, or store), not how many the firm employed altogether. In fact, most job creation, in the 1970s and today, comes from a small number of very fast-growing firms, while most small firms either fail (killing jobs) or remain small. Birch later admitted that the 80 per cent figure was a ‘silly number’, but the claims took firm root in popular mythology and political rhetoric by the 1980s. ‘Small businesses create eight out of every 10 new jobs,’ said Richard Lesher, president of the largest pro-business lobbying organisation, the US Chamber of Commerce.

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Nov. 17, 2017 / Andrew Khouri

Nov. 17, 2017 / The Editorial Board