Tuesday morning news drop
New Bank of Canada mandate maintains inflation target but keeps one eye on jobs picture, too There has been a suggestion in recent years that central banks should consider moving away from inflation targeting, and try to achieve other goals with their monetary policy. That could include setting their policy to encourage full employment, for example, or to raise or lower the value of the country's currency — even if that means inflation heats up or cools down as a result. (CBC)
The Great Escape: Why workers are quitting their jobs, after the trauma of the pandemic According to a July survey from the Society for Human Resource Management, 41 percent of U.S. workers are either actively searching for a new job, or planning to do so in the next few months. Two-thirds of those searching have considered a career change, rather than moving within their industry. Bankrate’s job seeker survey in August found even more turbulence; 55 percent of the workforce said they would likely look for a new job in the next year. (American Prospect)
Everything’s Getting More Expensive. Here’s What You Can Blame It On. The supply chain is still screwed up, Energy prices spiked in November and People are still spending their stimulus money. (New York Magazine)
3 Small Ways to Be a More Inclusive Colleagues Over the last three years the author has been investigating the impact of peer relationships on an individual’s experience of inclusion at work. She found that peers have the power to include or exclude other individuals, and the exercise of that power can make a meaningful difference to work performance. Peer inclusion is demonstrated through three small acts that can make a world of difference: 1) Instrumental assistance, or acts that help a peer to perform their work tasks (such as by providing information, making introductions to contacts, giving endorsements in meetings, or offering advice); 2) Emotional bonding, or socializing with their peers, joking and banter, as well as providing space for venting and showing an authentic interest in a peer’s personal life; and 3) embodied connection, creating and communicating a closer connection with through body language and the sharing of space, such as walking to a meeting together or pulling a chair closer during a conversation. (Harvard Business Review)
New People Are Coming to Crypto — And They May Not Like Bitcoin For a long time, there’s been a perception that it’s rooted in some kind of anarchy, with Bitcoin specifically often associated with right-wing, anti-Fed, gold-bug types. The fact that Bitcoin uses a lot of electricity to secure the network has helped cement the perception of “crypto” as a kind of antithesis of popular, liberal, ESG-ish ideals. But things are changing on that front, and mainstream commenters who previously turned up their noses at the space are capitulating. (Bloomberg)
Expected Returns Over the Next Decade Annual returns over the past 10 years: U.S. growth is up almost 20% per year. The S&P 500 is up more than 16% per year. Small caps are up almost 14% per year. REITs rose more than 11% annually. Everyone has been dancing on the grave of value stocks for years now, yet they’re up nearly 14% per year over the last decade. A simple 60/40 portfolio of U.S. stocks and bonds is up around 11% per year over the past 10 years. (Wealth of Common Sense)
The Office Is an Efficiency Trap: As office design evolved over the last century, one feature remained: the goal of filling your life with even more work. (Wired)
Two years after B.C. passed its landmark Indigenous Rights act, has anything changed? The province promised to align all of its laws with the principles of the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP), but a full two years in, only one clause of one B.C. statute has been amended (Narwhal)
The Compay Man Tse Chi Lop, the suspected ringleader of a $21-billion crime syndicate, may be the world’s most innovative drug lord. And Toronto was his training ground. (Toronto Life)
Jennifer Lawrence: “I Didn’t Have a Life. I Thought I Should Go Get One” After a long break, the Oscar winner returns with the ferocious satire Don’t Look Up, and talks to V.F. about love, fame, and boundaries. (Vanity Fair)