3 Burst results for "Dion Ribaut"
What does it mean to be "employed" in the gig economy?
"This. Marketplace podcast is brought to you by ultimate software dedicated to putting people first with innovative solutions for HR payroll and talent management. Learn more at ultimate software dot com. Ultimate software people first and by click share with click share, and you're meeting, you can share your screen instantly from any device, click share instantly projects any speakers laptop, tablet or phone onto a presentation screen. So everyone can work together. Share their ideas and create something great. That's the click share effect. Visit click share free trial dot com and learn more and sign up for your free trial. What does it mean to be employed in the gig economy? A new European law. Tries to answer that question from American public media. This is marketplace tech demystifying the digital economy. I may me Scott in for Molly would. This week the European parliament passed a law establishing basic rights for workers in the gig economy that could apply to some three million. People from Uber drivers to careers for the UK's delivery, the law requires companies to pay when work is cancelled last minute or for mandatory training, it also bans exclusivity clauses, which prevent freelancers from gigging for other companies. It's supposed to make working short-term gigs a little more stable. Joe Miller is a business and tech reporter with the BBC who's been following this law. It was mainly targeted at the biz of this. Well, and things like toss grab it essentially at based services that supply on demand sevices such as transport to delivery in reality. The legislation encompasses a fob ruled a section of the economy people who clean offices. Includes people who work for possible delivery companies. So the legislation could apply to a fall fall brought a sector than just those big tech foams that we've all come to know, why are these changes needed? What kinds of abuses were workers talking about that? This law is trying to address. Yes. The range of abuses require massive from people who being booked for work, and then never been given that work, you know, just being left in the lurch with no work, and no pay to people who have worked hundreds of days a year without any holiday pay people not being offered any compensation when they're sick despite working for the same company as intially for many, many months a weeks. So there's been an awful lot of activism around this and an awful lot of legal challenges around this of people coming forward with all sorts of employment concerns, these Member States have up to three years to begin to enforce this seems like a long time with a lot. Out of room for maneuvering, it is a long time. But critics would also point out that this only applies to people who are employed now that tightening up definition of who's employed the saying if you work three hours a week for a company that is considered employment. But of course, the big battlefield between the likes of Uber left and deliver around the weld and various authorities has been they've always claimed that they are just the facilitator between a customer and a self employed contractor now that is not covered by this legislation 'cause this legislation narrowly only applies to people who are employed, and you can expect that to be many many challenges on the definition of who is employed. This doesn't really solve anything in the immediate future. It's just a blueprint of how things may look the BBC's Joe Miller what could this year opean law mean for American workers? Well, Miller says think about what happened with the GDP are. The European privacy regulation that took effect last year. It led a lot of tech companies to change their practices here too. And now for some related links here in the US the rise of the gig economy may be distorting some economic data over at axios frequent marketplace guests Dion Ribaut and wrote about a new paper from the Dallas fed. It says the headline unemployment rate now at three point eight percent may low ball the number of gig workers who are unemployed or under employed because contract workers aren't on the payroll. They aren't counted as unemployed even when they're not working we've got links to John's piece and the Dallas fed paper at marketplace, tech dot org. Also, while you're there, check out another story from the ethica times Cornell University surveyed New Yorkers who use platforms like Uber post mates and grub hub to make a living among the two hundred seventy people surveyed only thirteen percent said they could get by by working for those apps alone, many relied on public assistance and juggled several apps at once to make ends meet Matt Purdy produced this. Tweaks marketplace tech along with Stephanie Hughes eve tro is our senior producer, Dan Powell is our engineer, I'm Amy Scott. And that's marketplace tech. This is a PM. This marketplace podcast is brought to you by click share, an award winning wireless presentation system with click share, and you're meeting you can share your screen instantly from any device. No more awkward small talk or wasted time as you wait. For tech problems to be fixed. Click share instantly projects any speakers laptop, tablet or phone onto a presentation scream. So everyone can work together. Share their ideas and create something great. That's the click share effect. Visit click share free trial dot com to learn more and sign up for your free trial.
"dion ribaut" Discussed on WNYC 93.9 FM
"Fifth. Good to have you with us. Paul lenghty of economic news to kick around from big time jobs numbers today to the president's ongoing criticism of the fed and his shall we say idiosyncratic nominations to that body. Let's do it over with Linda Lopez from business insider and Dion rebellion markets editor at axios. Hi there. Hey, hey. Let's start. I think before we dive into this fed situation. Let's start with the jobs numbers broadly. I guess more of the same especially in terms of wages Dion. I'm gonna start with you, food and housing still cost a lot. So at what point to these stuck wages really start to hurt the economy? That's a really good question because they had actually moving in the right direction. But now, they're kind of stuck in might be moving back down the thing about this jobs report today was didn't really tell us anything new about the economy. Everything was kind of on trend along the same trend that we've been going on really since the end of the recession in the beginning of the recovery in two thousand nine so you got back to one hundred ninety six thousand jobs added that's about along trend that we've seen really for the past nineteen years wage growth kind of moving back towards its trend. And we're really this is just kind of return to the normal that we've seen over the past ten years. So didn't really tell us anything new economy, except, you know, the new boss same as the old boss, right and Lynette our reporters say three point two percent is okay. As far as wage growth goes. But we'd need three point five percent. Two four for a sustained period for workers to gain back this ground and getting to the fed. It seems like that wouldn't be that likely if inflation hawks start saying it's time to raise interest. Rates is that fair that's fair. But here's the thing. I'm one of those people who believes that the American worker hasn't really gotten a sufficient raised since the nineteen sixties. So when I look at these three point two numbers four percent numbers. It compares to, you know, compare. It does not compare to you know, the lack of ground that the American worker has has has not made. I mean. The American workers purchasing power has basically stayed steady for the last forty years. And this is why we've seen such massive inequality. So when I see a report like this, and we start quibbling over three point two percent. Four percent. I'm like, okay. I mean, fine. Right. But we can. It's not going to change when what is you know, an inherent structural problem with our economy right now. Well, then let's move onto the structure. It's not good. Threat large. That's what does you know? She just she comes. I mean, we keep calling ya. So it's on us. Broadly. Let's talk about the fed. You have these proposed nominations, Stephen Moore, and now Herman Cain. And I think what we should ask with all of this pressure in these kind of weird nominations is can the fed do its job. No, of course, the fed can do its job, and it is important to point out that these are just two of nominations of. I think it's twelve board seats. You've also got the chair the vice chair you've got a number of fed regional presidents all of whom everyone on the fed currently very qualified including the previous people that President Trump has nominated. I really think though, it's important that we refrain this debate or the conversations going on about these nominations. Everyone's keeps everyone keeps saying Trump. Is nominating these people because he wants the fed to Robak interest rates. He wants to cut rates hike, raise the presidency said that Trump doesn't understand how the fed works doesn't understand what the fed does isn't understand monetary policy. He doesn't understand. He's nominating. These people because he wants more people like him on the board. It's not about. But people who will do what he says in. Every instance, the president replaces the rule of law. And nonpartisanship with the rule of himself. And he believes that Stephen Moore and Herman Cain will perpetuate this rule of himself on the fed board. Now is that true unclear? We're going to have to look at the minutes once they join, and we'll have to see if Republicans in the Senate are actually, you know, craven and foolish enough to vote these people in I mean, even more himself has admitted that it's going to be a learning curve the man's not an economist. He's more of a touching. Her two point though, it is a it's a big deliberative body with some independent minds. Right. Like, you sound like you're saying that the board could withstand the pressure. We got about thirty seconds for. Yes. Could withstand the pressure. And again, these guys aren't going to put much pressure on because they don't know what they're doing right. Stephen Moore has no urban fed at least was on the fed before. I think he understands the processes of the fed is not really eminently qualified. And I think Rafael Bostick must be just with his head in his hand. Like, it took fifty years to get a brother on the fed. And now they're gonna put him on. But again, these people aren't Trump's nominees will because he wants interest rates lower. He's nominating these people because he wants more people like him who he feels excited about nominating. He doesn't understand what the fed does. And he's made that clear with this comments today. Linette Lopez from business insider and Dion Ribaut and markets editor at axios. Thanks so much. Thank you have a great weekend. Now to prepaid debit cards, the increasingly popular plastic cards with MasterCard or visa logos. That let you shop anywhere with preloaded money. They're a growing part of this economy and the financial services industry, but they can be risky. There aren't any protections against theft or purchases that are defective or unauthorized charges. But this week the consumer financial protection bureau started requiring safeguards on prepaid cards that are the same as debit cards that are tied to Bank accounts. Marketplace's Erica barris has more on that employers. Use prepaid cards to pay their workers governments that this first benefits on employment people who use debit cards from banks have had protection against fraud and loss for forty years. Now says Nick Berk with the consumer finance project. People have pretty much the same rights to be protected and get their money back if somebody steals their prepaid card as they do when they use a credit card debit card consumers who report a lost or. Or stolen prepaid card within two days or only responsible for fifty dollars in losses. If they wait sixty days, it could cost them five hundred these new rules, come as prepaid cards have risen in popularity credit card industry. Analysts had Rosman says more than eight million households don't have Bank accounts. So there are a lot of people who are using prepaid cards as an alternative to the traditional banking system. Another reason for the uptick in pre paid cards. It's pretty cheap for employers government and others to low the cards with money says David Robertson with Nielsen journal.
"dion ribaut" Discussed on Pro Rata
"Welcome back is Barada a podcast takes just ten minutes to get you smarter on the collision of tech business and politics. I'm Deborah MAC on today's show a big mystery and crypto land in a former Trump campaign advisor takes on axios. The first America's economic confusion. President Trump tonight will give his belated state of the union address during which he is almost certain to America's economic success under his watch jobs numbers and GDP and manufacturing data and holiday retail sales. It's cetera, etc. But he'll be patting himself on the back in front of a congress whose constituents both Republican and democrat are increasingly worried that the boom times of peaked small business owner confidence for example has fallen for four straight months. Consumer confidence is also down and Wall Street analysts keep lowering earnings expectations, particularly they realized that last year's sugar high from the tax cuts has largely worn off in short the statistics. And the sentiments aren't matching up and there's growing concern among the communists that America might essentially talk itself into a recession particularly through things like decree. Business and consumer spending again, not because of actual economic pain. But because it just kind of feels like there should be some it has been so long since we've had bad times. Now Trump obviously won't mention that divergence tonight, but he might have no choice come next year state of the union in fifteen seconds. We'll go deeper with axios markets editor Dion Rohan, but first this axiom chief technology correspondent Dana free shares. Breaking news and analysis on the most consequential companies in players in tech from the valley to DC subscribe to get smarter faster at sign up dot axios dot com and now back to the program a podcast. We're joined now by axios markets editor Dion Ribaut in. Is there? A concern that America or Americans, I guess are essentially talking themselves into a recession talking themselves into recession. I just had that's one way you could phrase it. The worry is just that these sentiment indicators have started to trend in a noticeably downward pattern. You know, you use the phrase threes a pattern, and we're getting strains of three and four in terms of confidence. I with a small business owner confidence consumer confidence Antilles fed surveys, showing Bank standards and lenders and all that. And you're seeing a consistent move lower and the reading we've got an consumer confidence. Then January was really really bad, particularly where to come down. I think it was the lowest in about ten years. The biggest drop in ten years month to month. I was at a conference last week and women in Jackie recess susa- senior executive square, the fintech company. She was talking about how from her perspective. A lot of these confidence numbers and lack of confidence. Numbers are almost like a function of time. Right. Like people have seen a bull market both in terms of stocks and labor center for so long. They just kind of feel things must be turning even though historically time has never actually been an indicator of what's going to happen with the economy not realistic thing. And it's actually something that some of the economists we spoke to have said to us, but the real danger here is that as people start to feel like things are bad. They start to not do things like make purchases they start to save more residents spend or put off investment the economy is driven by decisions that individual people make and so as individual people feel like things that whether they actually are not and as we've seen through the hard data in terms of just, you know, whether it'd be the government's jobs data, or you know, other surveys on hard numbers things are good. So regardless of that people do make decisions and the decisions that they make start the impact the readings and the economy. Let's talk about those readings because in the last forty eight hours we've been talking about how all the data has. Been strong. But correct last couple of days we've gotten some data. That's not quite as strong. Yeah. And it's not the most headline grabbing data, right? You see non ASM manufacturing today came in you know, a bit below expectations yesterday. We got some data that had been put off by the shutdown and that was not the best. It's been you actually saw pretty strong pullback in factory orders. And then you saw durable goods which had been actually negative the two months before come in. It was positive, but it missed the expectation by about half or about half as high as it was supposed to be you mentioned the government shutdown that obviously has delayed a bunch of stuff, including the Q foreign year end GDP numbers. What are we waiting for because of the shutdown from a numbers perspective that we should have already? The most important one is particularly when you mentioned which is Q for GDP fourth quarter last year. We're not really sure we'll get that. But the other big one is retail sales and retail sales the one that most. Economist and people really look at as being kind of the real barometer of the economy. What are people spending is the consumer healthy? And that's one that we haven't gotten yet that I think a lot of people have their eyes on and especially because it was delayed, and you did have the government shutdown, and you did have all these people out of work. You also did have a real change in sentiment around that same time. So how did that impact the amount of money that people were spending because as we know the consumer is more than two-thirds of the US economy, and and that's what really drives this ship. So that's the big one. I think to kind of political questions for you. The first is the fed and Jay Powell for those no, the expectation was the fed was just gonna kinda consistently keep raising interest rates, and then Trump got very upset about that publicly got very upset kind of unconventionally upset, and then Powell seems to have shrunk back and the argument on Powell has been well there are all these concerns about the economy slowing, but we did just get kind of his blockbuster jobs report. Give me a preview what happens with the fed. Rates. And what does that mean, it will pal and Trump just had dinner last night on Jay palce birthday, which was very nice. It seems like Trump is really doing giving them the all the Trump glad hand and saying, hey, you did. But I like let me take the industry. Good time for your birthday. I don't know if that's actually happening hopefully, a better meal than what he served the Clemson football players. The thing that really a lot of people in the market were saying was that Powell actually got with reality? I wasn't just Trump who was saying that how was going to fast that he had gone crazy or that the fed was going to cause recession. It was a lot of people in the markets a lot of chief investment visors, or you know, stock traders a lot of people really wanted to fed to pull back in stop what it was doing. And Jay Powell has a background in private equity. And I think more than Trump's could've bullying. It was that it was hearing from people he worked with because I heard from a lot of people that the fed was moving too quickly. And I think he was a lot closer to that. And as the chair he's much more sensitive to it. Final question for you state of the union is tonight. Give me one thing you're either looking for or you think Trump could say that would actually get consumer and business confidence back on a positive track. Wow. I don't know anything. He could say that we get them. Unless he announced the deal with China. I think the one thing that would get consumer and business confidence back really on track would be to say, hey, we're going to stop with all this tariff nonsense, president Xi of China, and I have a deal we've worked it out and everything is back to normal. So let's get back to business. Now, I have an image of Trump and Jay Powell, and and she like at Wendy's sharing food, Dan Ribaut and axios markets editor thank you so much for joining us my final two right after this axios gives you the news and analysis you need to get smarter faster on the most important topics in our unique smart, brevity format. We cover topics from politics to science and media to tech subscribe to get smarter faster at sign-up dot axios dot com