But increasingly, critics argue that the freelance model is being abused, with workers being treated as if they were on payroll without getting any of the benefits afforded to payrolled employees. Some Silicon Valley insiders are beginning to worry that start-ups’ overreliance on contract workers could come back to haunt them if they run afoul of longstanding labor rules. If that happens, these high-flying disruptors could be facing serious disruption themselves.
"… according to a new Pew study, knowledge and the written word can’t be so easily defeated. Despite embracing technology more than their elders, the study found that millennials were more likely to have read a book, either in digital form or on dead trees, in the past year than Americans over 30. Even more surprising is the fact that more young people believe there is important information that can’t be found on the Internet than their forebears"
Despite an improving economy and record corporate profits, business leaders are skeptical about their ability to compete abroad and downright pessimistic about the prospect of increasing pay or improving living conditions for American workers, according to a new report from Harvard Business School. Co-authored by high-profile Harvard professor Michael Porter, the report also identified an “troubling divergence” in the economy, in which most businesses are thriving, as are highly skilled workers, yet middle-class and working class employees are struggling. Porter and his team urged business leaders to become more involved in efforts to improve living standards for more workers, such as additional training and education, out of self-interest: a stronger workforce will make their companies more competitive in the global economy.
LOS ANGELES (MarketWatch) — Japan’s April-June economic contraction was a little worse than originally reported, the Cabinet Office said Monday, revising the quarterly drop in gross domestic product to 1.8% from the originally reported 1.7% fall. On an annualized basis, GDP shrank by 7.1%, compared to the premilinary read of a 6.8% contraction. Still, the result was in line with a survey of economists by Reuters, which had correctly called the 1.8% quarterly drop. The overall decrease in GDP was primarily due to the hike in the nationwide consumption tax on April 1. Driving Monday’s downward revision, meanwhile, was private non-residential investment, which was cut to a 5.1% quarterly fall from a decline of 2.5% in the preliminary result. The market largely shrugged off the news, with the Nikkei Average opening 0.3% higher, while the yen briefly slipped by just a few pips, only to recover its pre-data level as the stock market opened.
Exports increased 9.4 percent from a year earlier, the Beijing-based customs administration said today, compared with the 9 percent median estimate in a Bloomberg survey. Imports unexpectedly dropped 2.4 percent, leaving a trade surplus of $49.8 billion.