Monday, September 1
In The NEWS
Workers, United
How do labor unions work?
Although they’re most famous for bringing us the weekend, labor unions help workers organize their labor efforts so they can negotiate as a single entity rather than as individuals. Workers in a particular industry, trade, or company form labor unions to improve aspects of their working conditions, such as pay or benefits (learn more here).
The history of labor unions can be traced back to the 18th century, when the Industrial Revolution brought a surge of newly managed workers into workplaces. In the US today, labor unions are popular among transportation employees (such as the Teamsters), government employees, and other tradespeople like electrical workers (see list).
Critics of labor unions argue that unions not only make it more difficult to discipline low performers, but also drive up the cost of labor. Union advocates, however, believe unions are a great tool for increasing workers' pay and benefits (see pros and cons).
... Read our full explainer on labor unions here.
Also, check out ...
> How Labor Day became a holiday, starting in Oregon. (More)
> What do picket lines do? (More)
> "Right-to-work" laws make it legal for a worker to opt out of a union. (More)
Cosmic Guru
Stephen Hawking, explained
Stephen Hawking was a theoretical physicist and cosmologist known for his research on black holes, computer-generated voice, and cameo appearances in television and film, where he was often depicted in a wheelchair near a board full of equations.
Despite suffering from ALS, a progressive neurodegenerative disease, since the age of 21, Hawking published more than 200 academic research articles in his life, including a seminal paper predicting that black holes would "evaporate" over time, a phenomenon called Hawking radiation.
The progression of the disease and a case of pneumonia resulted in him undergoing a tracheotomy, which left him with no means of verbal communication. A speech synthesizer was added to his wheelchair, and its American voice became Hawking's trademark. Through his appearances on shows like "The Simpsons" and "Star Trek," Hawking gained mainstream popularity (see cameos).
... Read our full overview on Hawking here.
Also, check out ...
> How Hawking literally bet on scientific progress. (More)
> The children's books by Stephen Hawking. (More)
> Stephen Hawking's final interview. (More)
SOURCE: 1440 NEWS
Money Investments
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One of the biggest concerns that I currently have is making sure that I have enough money so that we can pay our bills until both of us reach the age of 95. Since my wife is five years younger than me, then I would need to live to 100 in order to reach by budgeted goals. I doubt that will happen, but it would be nice to reach 90.
Presently and taking into consideration no more COLA raises, we receive about $3500 from Social Security. Our monthly expenses are right around $5-6000, so we are needing an additional $2500 each month for the next 22 years or $660,000, assuming no interest is earned on money.
In order to generate $2500/month at an interest rate of 4%, one would need $750,000.
The average rate of return for the Stock Market is 10% but the stock market is rather risky.
The average rate of return for Mutual Funds, depends upon the fund...
Equity - 9-12%
Hybrid - 5-8%
Bond - 6-9%
Index - 10%
However, Mutual Funds are a little less risky than the Stock Market.
My wife and I have our money is a very safe Credit Union CD at 4.5% but was in a previous CD at 5.5%.
We are looking at earning interest at half the return of alternative investments but there are no risks.
While the Stock Market generates those average returns over a 20-40 year time frame, my wife and I need to count on our money RIGHT NOW...
So, minimal risks are mandatory for us.
NASA’s Webb Telescope Discovers 300 Mysterious Objects That Shouldn’t Exist
In a recent study, researchers from the University of Missouri examined distant regions of the universe and made a surprising discovery. By analyzing infrared images captured by NASA’s James Webb Space Telescope (JWST), they detected 300 objects shining more brightly than expected.
“These mysterious objects are candidate galaxies in the early universe, meaning they could be very early galaxies,” said Haojing Yan, an astronomy professor in Mizzou’s College of Arts and Science and co-author on the study.
“If even a few of these objects turn out to be what we think they are, our discovery could challenge current ideas about how galaxies formed in the early universe — the period when the first stars and galaxies began to take shape.”
Sunday, August 31
A comp sci degree is no longer a job offer magnet
Steve Prezant/Getty Images
The college major long touted by tech CEOs, policymakers, and pragmatic parents as a path to six-figure employment straight out of college is now leaving many young job hunters disappointed. Recent computer science grads are struggling to find work as Silicon Valley pulls back on entry-level hiring, outsourcing many of the simpler tasks typically handled by newbies to AI.
That has led to increasing anecdotal reports of desperate coding whizzes applying for jobs at places like Chipotle, which don’t require Python knowledge but instead involve burrito-rolling chops.
Perfect storm
Even as far back as 2023, when ChatGPT was just starting to appear in America’s cubicles, early career computer science majors were more likely to be jobless than most other majors, according to data recently released by the New York Federal Reserve. A number of major tech companies trimmed their workforces and pulled back on hiring after a pandemic hiring spree, leading computer science and computer engineering majors to experience unemployment rates of 6.1% and 7.5%, respectively, compared to 3.6% for all majors.
And things still aren’t looking good in the industry for those who aren’t AI gurus getting Meta’s $100 million signing bonuses:Currently, postings for software engineer roles on Indeed are down nearly 70% from their peak in 2022, though they have picked up slightly in recent months, according to the Federal Reserve Bank of St. Louis.
This has left many experienced developers with #opentowork LinkedIn banners, competing for fewer jobs with the swelling ranks of coding newcomers, as the number of people studying computer science has more than doubled from 2014 to 2024, per the Computing Research Association.
To make the job hunt even harder for aspiring tech workers who spent the last four years tackling coding problem sets, AI tools are increasingly handling simpler tasks typically reserved for entry-level coders. VC firm SignalFire found that entry-level hiring in Big Tech and startups was down by 25% and 11%, respectively, between 2023 and 2024, a dip the firm attributes, at least in part, to automation.
Career consultants advise recent grads to focus on upskilling and getting fluent with AI tools to make themselves attractive to employers, who are increasingly overlooking degree credentials.
But a CS degree can still pay off. Recent computer science grads who did land jobs enjoyed some of the highest salaries of any major, raking in an early career average of $80,000, per the New York Fed. They also had some of the lowest rates of employment in roles that don’t require a bachelor’s degree, which could indicate that coding geeks haven’t been rushing to take a job unless it matches their skillset.—SK
Robert Reich
Friends,
The neofascist takeover of America — of our cities, universities, media, law firms, museums, civil service, and public prosecutors who tried to hold Trump and Trump’s vigilantes accountable to the law — worsens by the day.
As I’ve traveled across the country peddling my book, trying to explain how this catastrophe happened and what we can do about it, I’ve found many Americans in shock and outrage.
“How could it have happened so fast?” they ask. I explain that it actually occurred slowly and incrementally over many years until our entire political-economic system became so fragile that a sociopathic demagogue could bring much of it down.
Some people I speak with are still in denial and disbelief. “It’s not as bad as the press makes it out to be,” they say. I tell them that it is — even worse.
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