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A summer note: Future will go dark for the next two weeks while Kaveh, Erica and I recharge our batteries. As we go off, it would be great to hear what we should be thinking about as fall approaches. Hit reply to this email or message me at email@example.com, Kaveh Waddell at firstname.lastname@example.org and Erica Pandey at email@example.com.
Today's Smart Brevity count: 921 words, a 3-minute read.
Okay, let's start with ...
The hottest months on record have been the backdrop for what, on the surface, has seemed to be an equally red-hot U.S. labor market, with the lowest joblessness in a half century, rising wages, and bettering prospects for the least advantaged people.
What's happening: In its latest report, the U.S. Bureau of Labor Statistics said the economy produced a great surplus of work above and beyond the number required to absorb new job entrants. Just 80,000-100,000 jobs are needed to soak up fresh graduates and other new entrants to the work force each month, and the economy produced 164,000 in July.
All kosher, right? Not if one is guided by history:
And wages are not rising as they should if you believe in the law of supply and demand, along with historical trends, which say they should be increasing at a fast clip since employers should be robustly competing to grab workers.
What economists now suspect: We are not in a tight jobs market.
Thought bubble from Axios markets reporter Courtenay Brown: "There's sort of this chicken-or-egg dynamic here. Wages aren't growing because workers aren't coming off the sidelines, so there's not enough competition for talent for companies to raise pay. Meanwhile, workers may not be coming off the sidelines because wages aren't spectacular enough to make them jump back in."
Photo: Matthew Horwood/Getty
We reported earlier this week about the beginnings of a lucrative but untested industry bent on keeping fast-multiplying consumer drones away from sensitive events and places, Kaveh writes.
But coming advances in drone technology are going to make the job even more difficult. Here are four developments experts say will leave an enormous mark:
Photo: Dominika Zarzycka/NurPhoto/Getty
Sometimes any of us can be distracted. Never mind, here is the top of Future for the week:
1. The geopolitics of geology: Human history, driven from down deep.
2. The anti-drone industry: Detecting them or just shooting them out of the sky.
3. How Amazon will take over your house: The leading surveillance capitalist.
4. Blacklisting in China: Social credit and business.
The Milky Way, using pulsing stars. Credit: J. Skowron/OGLE/Astronomical Observatory, University of Warsaw
Coins and tokens. Photo: William C. Shrout/LIFE/Getty
While many other countries have moved on to mobile payments, Americans have remained loyal to the plastic in their wallets, Kaveh writes.
There's a niche world that collects these old coins, which vary in size and shape and can be ornately decorated.
And now, with luxury cards increasingly made out of metal, a hint of the old era of charge plates has returned.
Have a great weekend!