News From the Control Tower - 04/22/2021
News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.
This week’s reads include:
1. Welcome to the YOLO Economy
Burned out and flush with savings, some workers are quitting stable jobs in search of postpandemic adventure.
2. Paper Source vendors left pleading for payment as executives seek $1 million in bonuses
A bankruptcy trustee cited Paper Source’s latest efforts as “why in 2005 Congress was driven to make sweeping changes to the bankruptcy code.”
3. How the Pandemic Did, and Didn’t, Change Where Americans Move
According to USPS data, the pandemic didn’t change where people moved to or away from.
4. Companies can't stop talking about higher costs
"Pent-up demand due to the pandemic and elevated household savings suggest price increases in certain end markets may be digested initially, but for how long?”
5. Unemployment Is High. Why Are Businesses Struggling to Hire?
Health concerns, expanded jobless benefits and still being needed at home are among the reasons would-be workers might be staying away.
Bonus: TikTok Is Fueling This Immense Night Market in Lincoln Heights
The always-busy Avenue 26 market has grown in the past few months to become maybe the largest street vendor setup in LA, if not America.