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5 Jul, 6 tweets, 3 min read
Teenagers in the US have been filling the void left by adults who still haven't returned to work since the pandemic started.

Some are being promoted to general managers, earning a $50,000 salary, demanding weekends off and tuition reimbursement ft.com/content/ee8db3…
Teens accounted for 36% of new hires in June, compared to an average of 10% during the same period from 2017 to 2019, according to an analysis by the small business payroll provider Gusto ft.com/content/ee8db3…
But not all teenagers have equally benefited from the trend. Young people of colour still have a relatively high unemployment rate compared with white teens ft.com/content/ee8db3…
Why are some adults not returning to the workforce?
👉Ongoing fears of the Covid-19 crisis
👉Lack of childcare
👉Temporary expansion of unemployment insurance

ft.com/content/ee8db3…
Those who are willing to return to work are leveraging the competition to demand higher wages and better working conditions.

Companies that traditionally shied away from hiring minors because of state laws are starting to embrace them ft.com/content/ee8db3…
For those who have cashed in, their windfall may be limited. Adult workers are expected to re-enter the labour force en masse in September as expanded unemployment benefits expire and in-person schooling resumes ft.com/content/ee8db3…

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Financial Times Profile picture
2 Jul
When the US invaded Afghanistan, many hoped for advances in democracy, human rights and women's rights. Twenty years later, American troops leave a country in fear.

In this film by @JoeSinFT, Afghans reveal the reality of war, past, present, and future ft.com/video/7d024732…
From 1996-2001, the Taliban ruled with little mercy. But during the US-led war, the local population has continued to suffer the most ft.com/video/7d024732…
What started as a bid to remove al-Qaeda morphed into an expensive exercise in nation building. Besides providing security, the US also made efforts to eradicate drugs trade, bolster the economy and promote women's rights ft.com/video/7d024732…
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2 Jul
Years ago, families paying up to £44k a year for elite private schools in the UK such as Eton could comfortably assume their kids had a very good chance of getting into world-class Oxford and Cambridge universities. That is no longer true ft.com/content/bbb7fe…
A 2018 study showed that just eight institutions accounted for more Oxbridge places than nearly 3,000 other UK schools combined. But Oxford and Cambridge are increasingly giving more credit to kids who have overcome barriers to get top grades ft.com/content/bbb7fe…
State schools are producing students with high scores, strong essays and interview training. International applicants are also on the rise ft.com/content/bbb7fe…
Read 8 tweets
Financial Times Profile picture
2 Jul
Can we really know the full impact of Brexit on the UK’s economy during a pandemic? Economists are divided, and the statistics differ drastically
on.ft.com/3hoMdAR
Pro and anti-EU economists have attempted to assess the effects of the first six months of the UK-EU trade and cooperation agreement. But the big picture on trade and employment has been swamped by the economic impact of Covid-19 ft.com/content/fbb707…
Trade has undeniably been hit by Brexit — but the extent depends on which statistics are used. UK to EU exports were 5% lower in April compared with last December, according to the UK’s Office for National Statistics, and 24% down, according to Eurostat ft.com/content/fbb707…
Read 6 tweets
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1 Jul
Declan Kelly, chief executive of CEO advisory firm Teneo, resigned five days after the Financial Times published allegations that the 53-year-old had drunkenly touched several women at a fundraising party without their consent. What’s the story?
ft.com/content/7412f9…
In six months, Teneo was hit with two reputational crises, costing both co-founders their jobs and casting doubt over the future of an expansionist 1,250-person consultancy that received at least $450m in private equity
ft.com/content/7412f9… Image
Declan Kelly and Doug Band were trusted by scores of chief executives to protect their reputations. The fees they managed to charge - as much as $1m per month - left rivals slack-jawed with envy. That legacy is now threatened ft.com/content/7412f9… Image
Read 5 tweets
Financial Times Profile picture
1 Jul
July 1 marks 100 years since the founding of the Chinese Communist party, an event that ushered in a century of political and economic revolution. The FT’s @JKynge shares his insights on reporting on China for 35 years — and its future as a global power on.ft.com/3h803J1
In 1980, China’s annual GDP stood at a mere $191bn, or $195 per capita, making it one of the poorest countries in the world.

Almost 40 years later in 2019, GDP had increased 75 times to $14.3tn, or $10,261 per capita ft.com/content/6b3a72…
Deng Xiaoping, who became China’s paramount leader in 1978, is credited with the de-collectivisation of agriculture and opening China to foreign investment. But he also ushered in a series of lesser-known political reforms ft.com/content/6b3a72… Image
Read 9 tweets
Financial Times Profile picture
30 Jun
We polled 52 economists about the future of inflation, consumer prices, interest rates and unemployment in the US. Here's what they had to say 👇 ft.com/content/de778e…
Should we fear inflation? Probably not. Despite a 'pro-inflationary environment', most economists surveyed believe the Fed will intervene, with 75% responding that market inflation expectations are unlikely to surpass 3% by January 2022 ft.com/content/de778e…
Elevated inflation will compel the Fed to raise interest rates at least twice by the end of 2023, the FT/IGM survey shows ft.com/content/de778e…
Read 5 tweets

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