Carlos Slim, Mexican telecoms tycoon and the world's richest man, says people should work three days a week, but not retire until they are in their seventies. Others, including Google co-founder Larry Page, share Carlos Slim's vision of shorter work weeks, but is it a serious option for companies and workers?
The Federal Reserve, which on Wednesday decided to continue with its tapering program by withdrawing $10 billion of monthly stimulus money, directs US monetary policy with a combination of data and anecdote, quantitative analysis and horse sense. But sometimes the world's most powerful bank gets it wrong, as a new book points out.
Unemployment rate plunged to 6.3 percent in April, but teen employment still lags behind pre-recession levels. Why the high teen unemployment rate? Fewer teens want to work, and the ones who do face increased competition from immigrants, retirement-age workers, and even college and high school graduates.