Happy Econ Ed month!
Over the past couple of weeks, we have been running focus groups to learn more about the economic content you all love to read, listen to, watch, and engage with. Our Decode Econ Educator Network participants helped us learn more about what they want for their classroom. Our “1,000 true fans” focus group told us why they love us so much and what they would like to see more of. This helps us shape our work.
The Decode Econ RAs and I do this work for you all, and we're always happy to hear from you.
If you listen to us on a podcast platform, please give us a rating. It helps more than you know.
Now for the economics, here is what you missed this week
The Economic Degree is Worth It! Matt Holian, professor of economics at San Jose State University, discussed his latest paper with me on the Decode Econ podcast. Listen in (Spotify, Apple, or YouTube).
The BEA revised Q2 Real GDP up to 2.2% and Q1 to 2.5%. Inflation is down to 3.4%; excluding energy and food brings it to 3%.
DEEN member Dr. Mallika Pung shared insights from a recent study. Economists analyzed five years of data from software engineers at a Fortune 500 online retailer. They found that sitting near teammates increases code review feedback and improves code quality, especially for junior and younger engineers, but takes time away from senior staff, who write less code as a result.
The TLDR: in-person work helps junior workers improve their productivity, and experienced workers are harmed.
She provides slides and more context so economic educators can incorporate this study into their classes. Thank you, Dr. Pung!
This post about Social Security reform from our friends at The PolicyViz Newsletter is worth a read. It starts with
“When it comes to Social Security reform, Democrats have traditionally been against benefit cuts and Republicans have been against tax increases. But one side of that balance is starting to shift. Over the past few months, several Republicans have come out in favor of payroll tax increases to bolster the program’s trust fund, including Sen. Bernie Moreno (R-OH), Rep. Tom Cole (R-OK), and Rep. Lloyd K. Smucker (R-PA).”
The visualizations are worth it. Check it out.
Finally, the Employment Situation Report (Jobs report) comes out at 8:30 am. Reminder: last month’s data was a surprise. Was it a data anomaly, or will the trend continue?
Happy Econ Ed Month
Your boss sat you down and told you you did a fantastic job this year. Your performance has earned you a 3% raise.