Assorted Links Sunday

Happy Labor Day!

7.3 million US homeowners — more than 14% of all mortgage properties — have been in a forbearance plan over the past 15 months:

Who is the wealthiest generation?

US hiring slowed sharply in August: The economy added 235,000 jobs as the Delta variant appears to be weighing on consumer confidence and spending.

What Hurricane Ida just taught us about infrastructure and connectivity economics:

I mention this because it drives me crazy that so often the benefits of infrastructure investment seem to revolve around safer bridges and “good jobs” for blue-collar workers. But the latest flooding disaster in NYC shows how inadequate infrastructure can disrupt a key node in America’s economic network. And that is exactly what New York is. Every year it generates more than $1 trillion in high-productivity economic output, and is typically second behind Silicon Valley as a high-impact startup hub. The classic economic assessment of the impact from infrastructure spending focuses on lowering business costs, reducing commute times, improving labor force participation, and reducing pollution. But keeping a key tech and productivity hub online is pretty important, too.

Permanent job loses:

The employment situation is worse than the unemployment rate indicates: The headline unemployment rate of 5.2% significantly understates the current situation.

The secret to happiness at work: Your job doesn’t have to represent the most prestigious use of your potential. It just needs to be rewarding.

One in three US workers does gig work now: More people are turning to gig work than ever before, but since these jobs usually don’t come with employer benefits, their proliferation could worsen inequality for millions of Americans.

Two essays for for Labor Day: Americans don’t want to return to low wage jobs and Good news: there’s a labor shortage.