tv Bloomberg Business Week Bloomberg June 24, 2017 7:00am-8:01am EDT
carol: welcome to "bloomberg businessweek." i'm carol massar. oliver: i'm oliver renick. week, the current state of the workforce and what it might look like five to 10 years from now. oliver: how job advancement looks a lot different in asia. carol: the real reason the gender wage gap persists. oliver: all that and more on "bloomberg businessweek." ♪ carol: we're here with the editor-in-chief of "bloomberg
businessweek." this issue is all about the jobs market. how did you guys approach it? >> who want to pick jobs because it is so much the center of what we talked about on a political basis every day, but it is such a nuanced argument and i feel that a lot of bloomberg feels that so much of the new wants has been stripped away from this argument. we can all talk about bringing jobs back and manufacturing and automation and a number -- and how jobs are going away, but we don't talk about the real fundamental issue paralyzing parts of our economy -- how we train the people for the jobs of tomorrow, not the jobs of today. whereabouts going to take over, and how are companies grappling with this in changing their workforce were not changing their workforce fast enough to deal with some of these changes. we really want to take an inside look at that from the ground up, whether that is trucking, training former guerrillas in , or the gender wage gap
that we see in the u.s. and other countries. oliver: i like the way you approach it from different angles of sometimes taking a very macro academic look at things and also using a very micro anecdotal way to show the real effect on people and small businesses. one of the real effects is looking at what's happening in history of you had a growth happening economically in these industries now that are getting closer and closer to basically be more latest by robots. well here we moved on from some of these industries, asia still a lot of the workforce. carol: in the emerging world. >> absolutely. often there's a misconception that asia is one block, there are highly developed countries and countries along the journey and still underdeveloped countries. this article really looks at in a graphic way is how countries that are at the developing end of that scale are actually
getting on a mentally disrupted in their progress to improving prosperity and their economies because some of the manual labor that was the traditional start for their workers to move up the chain -- textile work, making close that we buy at places like target and walmart, those jobs are being automated. we talk about factory in china that the huge move -- a huge room of automated textile making. it hurts the ability of countries like malaysia and cambodia to seize on his weapon -- on what has been the traditional prosperity grantor in terms of more developed industry. it's one of those disruptive forces and automation that you don't see talked about enough of how exactly disrupting some of the least developed countries, not just the most developed. cost of labor is no longer an issue, you can manufacture right at home. >> and how quickly people have been able to scale up. we talk of accompanying austrians not producing 500,000
tons of steel wire with 14 people. we are becoming increasingly workforce where there's high school and mid-skill, -- high skill and mid-skill in the low skill is going away. gap, it's gender wage depressing we are still talking about it, but we are. >> we still make $.80 on the dollar. seniority. >> we want to go be on that headline number and talk about some of the structural reasons have prevented this from making any game for decades now. it's not just that women leave the workforce to have children, it's not that they often to lower paying jobs. the lack of transparency over the tape process and a lack of willingness to be transparent. we talk a lot about that, and some companies have been forced
to smash the glass by saying -- salesforce is a perfect example. two women looked at everything will gap and salesforce adjusted overnight in a very rapid process. added millions of dollars to their pay packets of people the balance people out. companies are willing to do that or even give information about the gaps that exist. we're talking about gaps between women and men who do the same job. carol: apples to apples. oliver: you have a lot of anecdotes and company specific examples of the story, we have diagnosis. >> is interested in the gender pay gap, but i was more just it in what companies and people are doing to try to tackle it and through their attempts, successful or not, i could see what was actually working and what wasn't. first we examined why is this happening? it is so pervasive. >> still. >> for many years. it's not really moving.
it's been relatively constant at make, andof what men it's been that way for at least 20 years. >> you make that distinction all theyou can take jobs that women work and all the jobs that men work and compare the day, but you can also do compare the exact jobs. that's a better comparison at this point. >> it depends what you want to talk about and what you want change. 80% oru hear the number $.80 on the dollar, what that means is that is the big birds eye view of the clustering where women tend to be lower paying jobs, lower paying positions within the same companies. when you do the job to job often women quite are still paid less. it's much smaller across the whole economy, about 5%. that's within some industries, it is smaller.
and the job-search company last -- glassdoor as silk of your programmers all things being equal, education and experience, women make about 28% less than men. why does it continue to be so pernicious when there seems to be so may different efforts -- whether it's companies addressing it very even on or directly -- the investment side, where more and more investors want to be involved, that the screen specifically to have resolve this problem, but it is still there? >> is a great question and it's one that companies are really dealing with area i talked to a that lookedmpanies within themselves and found this job to job discrepancy. one of them was salesforce and they bumped everyone up to where they thought they needed to be and then they did it again a year later. they added race to their analysis and they had to bump people up again. last are they acquired 14
companies have hired 17,000 people, so people were coming in with these wage gaps that followed them from job to job. , when you looke at the statistics, when women are just out of college, i do tend to make roughly what men make. 97%. and then as they advance of their careers, they're not getting the raises and if they have children, that's when they are falling significantly behind, because they take time off. even if it's just a few months of maternity leave, there is this preconception that they aren't going to be is able to travel, they may not be able to handle the increased workload if they get promoted to executive or something like that. look intocompanies this issue, how is perception where boxes might look at a woman and say wait a minute, she's having kids and she won't be able to travel, making those ultimately plays
and the financial equation in terms of what they are paid. >> that is the case. i was surprised. i talked to companies and individual people and some of them one on the record and some didn't. were privywomen who to these conversations about to we really want to hire her, she just had a kid or she's going to have a kid. we really want to do this? even if they do make a decision to hire that woman, they thought about it and maybe when they are going through negotiations, they treat her differently. that's an individual basis. it seems to happen quite often. oliver: up next, where to find hundreds of fantasy jobs. here's a hint, the address, 1600 pennsylvania avenue. intended to move protect american workers may force american businesses to close. oliver: this is "bloomberg businessweek." ♪
carol: welcome back to "bloomberg businessweek." i'm carol massar. oliver: i'm oliver renick. you can also find us online. carol: and on the bloomberg businessweek mobile app. oliver: white house is struggling to fill big and federal agencies. carol: we talked about why these jobs remain unfilled. >> when you look at senate confirmed positions within the white house, president trump has only filled about 10% of more than 500 jobs. there are hundreds of openings within the white house, within the executive branch all across federal agencies. deputy secretary's, assistant
secretaries. you have all the cabinet secretary is in place, but they do not have the top staff to help them fulfill the president's agenda. it's become almost a crisis level of the white house with several positions open. carol: to be fair, give me some context. is this typically how long it takes for a new administration? some of it takes a while to get things in order or is the trump administration really behind? trump administration is behind previous of illustrations with 45 positions that have been filled compared to about 170 for the obama administration, 130 for the george w. bush of ministration. part of this is a long process for senate confirmation and going through the process of getting your fbi background checks and ethics forms cleared. more slow than previous administrations and it's become something that even republicans have become frustrated by the trumpet ministration is so slow to get these jobs filled. carol: are democrats -- the trump administration is so slow
to get these jobs filled. carol: are democrats slowing down the process? grexit little. republicans in the white house say is led to a ripple effect, we didn't have the cabinet secretary someplace, you can start hiring their deputies and support staff, some democrats said they wanted to have a resistance to the trump administration. and they did put in some delays during the early part of the administration. be more the to trump administration not getting us names across and knocking people in front of the senate to get confirmed. carol: why is it taking so long for the trump administration fill these vacancies? >> there are a number of different reasons. everything from the long process of getting fbi background checks and ethics forms, to people not wanting to work for the trump administration because of either the russia's scandal or the facts of the boss often undermines is top secretaries and top people within the agencies with his twitter account or his statements and interviews.
there are number of reasons that people are hesitant to work for the administration or is taking them longer to get confirmed. carol: i also found fascinating is that you talk about what's tricky in terms of people who might work for president trump and his team is that he's demanding loyalty. he really is demanding loyalty from his appointees. >> that's true. they're sort of a black list for people who spoke out against trump during the campaign and republicans are signed petitions against trump are not to be welcomed within any of the agencies. hirede people who were and fired once the white house realized they had spoken out against trump or written negative articles about trump during the campaign. focus on loyalty may be difficult for the trump administration to find people who were completely loyal throughout the campaign who support him from the beginning and who never spoke out against him up. that's one of the reasons they are having trouble filling all these jobs. the politicsg in section, lester the u.s. congress failed to extend the key part of the h2 b visa
program. oliver: that is causing american jobs. >> we used a story about a bed-and-breakfast in maine, the oldest business continually open in this part of maine, right on the coast. traditionally, they have basically made all their money in the summer. i have a nice in -- they have a nice inn, right on the water. programy on a visa called h two b visa program, which brings in seasonal workers and foreign workers to do low skilled jobs. that program was not extended by congress in december. the amount of uses that are available have been cut in half and businesses all over the country are suddenly stuck with no access to labor. they can't open up the restaurant. is a really serious problem for
them and other businesses. congress is not extended this visa program on the auspices that it takes jobs for american workers, but the opposite is actually seeming to be true. it is hurting american businesses rather than helping them. carol: give us some history about the h2 b visa program. we talk so much about the h-1b visa program in terms of the impact on the technology sector. talk with the history of this program and how important it has been to so many of these industries. it's been going on for years. >> for decades. it basically brings foreign low skilled workers over to the united states for a temporary time to work jobs that basically no americans are going to want to do. it's low skilled and probably low-wage. this is working in restaurants, working in hotels, doing room
service and cleaning and things like that, waiting tables, being servers. and we have cut the number of these reasons that are available in half over the past few months. it's a real strain for businesses not just in the hospitality industry but in the meat processing industry, the fishing industry in alaska, especially sparsely populated areas in the country where there is no local labor force to grab from. oliver: up next, the uptake and deportation that some american farmers feel nervous. carol: and why today's low u.s. we are aent rates show long way away from a post work world. oliver: this is "bloomberg businessweek." ♪
on dab and newon x three and asia on the bloomberg radio plus app. peter coy argues it's too soon to worry about a robot taking your job. >> automation is on everybody's mind, we see all the time with driverless cars and voice recognition, not just recognizing your voice and understanding what you are trying to say. your words can be translated into any language in the world. and people think what is the role for people in that stage? r.o.e. jobs going away bashar all the jobs going away? who talk about how there's going to be useless class. carol: the present. >> especially if we are in the useless class. oliver: maybe we already are and we don't know it.
had we separate the dialogue and speculation on drama from the numbers on the data? >> that's the thing. areworld in which people useless appendages right now is science fiction. --you look at the numbers japan has unemployment rate under 3%. tiesone of the most robust -- robotized society in the world. they have the roulette because they have so few workers. oliver: the demographic problem came first. >> employersers -- are crying out for workers. it's not as situation where workers are being displaced by automation. carol: we've got the revolution's before, the industrial revolution were we thought all my god factories are going to take away workers. no, but freedom workers from
doing monday's -- monday and, dangerous tasks. can we look at the cycle of technology in the same way? >> my conclusion is yes. the argument for no is this time is different. as long as machines were biceps andur triceps, it was one thing, but now they are replacing our brains and that's the last thing we have going for us until this time really is different. the argument i would make is in a lot of cases, the technology can supplements or complements the human being, and other tool, just the same way that influence for starting fires or a hammer or a car complements the strength of human being, i think artificial intelligence and different types of automation can do the same thing. oliver: in the economic section, some farmers in kansas are beginning to worry that more deportations are sweeping across the u.s..
>> it's a hard number to pin down, can the share of undocumented immigrants in the industry around 50% or higher and in parts of the industry, in darien farmhands, it's very high. can credibly reliant on foreign labor and the people who are here are a huge part of these industries and these farms in these small businesses and bigger businesses and bigger farms. oliver: what are happening to those undocumented folks that are working and are now trying to navigate a very different administration than the one they were used to? >> there's a lot of fear and uncertainty. a lot of them in southwest kansas just don't know. they're going to people like immigration lawyers and asking questions about what can they do to protect against being deported, even just for having overstayed their visas. the trump administration has said they will prioritize those who have had criminal offenses,
but the fear is if they get pulled over for a traffic ticket and are seen to be undocumented, they are open for deportation. there's an incredible amount of fear and some people are trying to take faster precautions in terms of getting more documentation or trying to fast-track their visa renewal process and that sort of thing. it's an incredible onerous process with a lot of uncertainties and a lot of cds -- a lot of fees. it's hard to navigate. carol: it makes the farmers in the united states nervous, they are already dealing with a tight agricultural workforce. absolutely. we have a national unemployment rate of 4.3%, and yet in some parts of kansas, it's almost half that. 2.3%, 2.5%. great, but itt's really is a sign that there aren't enough workers. the country and certainly that industry is dealing with a tighter labor market than even at the national
level, which is already tight. they are really trying to hold on to these workers in every way possible and be certain that they can still have a flow of workers coming in to replace those lost for other reasons or to expand their businesses. that's not a certain thing at all right now. oliver: what can business owners and managers on the ground have local a different experience with what happening then say someone in d.c. who is viewing this on a nationwide scale? we look at somebody like tristan friesen your story, due to make sure that they have workers that are still doing the jobs they need? >> that's a good question. one thing that they preach even in very red state like kansas is this isn't about politics, it's about economics and it's about being a good business owner, being a good manager to your workers. especially in that area and across the industry, they are very tight communities of workers that are really
protective of their employees and they want to make sure that -- they say these employees have come here, they might be overstating a visa, but they are good, honest workers that filed the paperwork and pay their taxes and contribute to the community. they wantager's eyes, to keep these workers and be able to advocate for them and hopefully at some point get some sort of half to legalization that they can get those workers safe and protected from any sort of deportation or threat of deportation. bever: why target should very worried about amazon's takeover of whole foods. carol: the technology that may put a nation of truckers out of work. oliver: this is "bloomberg businessweek." ♪ [ noises inside can ]
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show me unicorns. [ click noise for tv ] ahhh! that works too. find your awesome with the xfinity x1 voice remote. see despicable me 3. in theaters in june. oliver: welcome back to "bloomberg businessweek." i'm oliver renick. carol: i'm keller massar. #carol massar. oliver: the truckers working alongside coders to try to replace truckers jobs. carol: and the undiscovered frank lloyd wright. all that ahead on "bloomberg businessweek." ♪ oliver: we're back with "bloomberg businessweek." megan murphy, to talk about more
must reads in the magazine with a focus on jobs. a very company specific adjustment going to have to be made here. tell us how you responded to the news about amazon and whole foods and what it means for this other retailer? news events happen, we have to think about what's added value and obviously this mammoth, disruptive purchase by whole foods by amazon for $14 billion is going to have knockout effect. you start immediately in the prices for the retailers. we want to focus on target and how their foray into the grocery market has been a challenging. it had symmetric about its branded, it was on trend in attracted youth and it was a cultivated upmarket brand at a down market price. now with amazon taking on whole foods, it's a really big threat we see how much she
crossed cells with whole foods and other products when he takes over so many stores that he has in that physical retail space. time for target with this huge transformation spending billions of dollars. the timing is not great. it's not good for any retailer. we are moving more dollars online and many more on things that we see. we still want to see vegetables and fruit, and jeff bezos this proven he takes industries he thinks he can make cheaper, more efficient and he exploits your laziness. when he takes over whole foods, we will see how much further he can expand amazon and its brand into your daily life, including what food you eat. carol: definitely excluding my laziness. the job issue, we love the story. columbia negotiated a peace treaty, but you've got thousands guerrillasriend -- x
trying to go back to work. you have these people, this has been we want to talk to -- jobs is your identity, more so than almost anything beside your family. how you go from your entire identity being a guerrilla ,perator, your entire knowledge have you transition that into your workforce? in an environment where jobs are not that plentiful, the economy has its ups and downs that is very volatile. assistance is available for you and the safety net that you go into when you just try and join the workforce, your resume says former guerrilla. oliver: how easy was that to find these folks? megan: i think after the conflict ended, there were a lot of people wanted to get out and talk and be visible. being this invisible element in society in a conflict that was
so bloody it for so long, is a real credit to those institutions that are down there that are educating and training in the businesses that are making the best and taking the risk of bringing these people on board. we hope it's a hopeful story. oliver: shifting gears back to the u.s.. carol: literally. oliver: one of the hartline industries of the u.s. is up for major shakeups in technology, that's trucking. the number one job and 26 dates. the headlines you always hear. trucking. a lot has been written about the automation of the trucking industry. but not a lot has been written about a company that on both ends of the spectrum. highest prize coders out of silicon valley to code automated trucking, one of the most lucrative elements of the job sector in the world, and at the other end, it also hires some of the most disadvantaged impoverished most backbreaking
labor out there and that is trucking. it automates trucks but it still employs truckers to drive in in neighborhoods and areas of the country were automation doesn't work right. it's the middle road it the near future of automation. it's a fascinating story of a clash of cultures. it also we like to think hopeful in that we need to move people from the jobs they are doing intimate skill an higher skill jobs and this is going to be one of the ways to do it. carol: we got more from reporter max chapman who hit the road with the truckers and of starsky robotics. thatsically, the idea advances in artificial intelligence with google, self driving cars, the computer that was able to beat the world's best go player, taking people jobs. the most obvious places that could happen is in truck driving, which is a huge fees of the american labor force and global labor force and also big industry. carol: how huge?
i was shocked to learn how many people are out there as truckers. >> 3.5 million truckers, depending on how you do the math. some people and come up with calculations that shows the most common job in the united states. i think it's one of the most common jobs, there are a lot of retail workers, but it's a huge number when you add in the people who work in the industry, people who in truck manufacturers, truck stops, gas stations, that's another 4 million people. to big part of the economy that a lot of people if you live in the coaster were given information driven field, you probably just don't appreciate it at all. oliver: it's a whole infrastructure that exists. think it's a really good point, a lot of people on the coasts have not been familiar with this but anyone who is driven back and forth across the u.s., you see truck drivers, you see truck stops, it's a whole community. what do they have think about inters of what's changing the rules?
>> truck driving, compared to sell driving cars, is a much better venue for artificial intelligence. ,rucks mostly drive a highways they clearly markings with no history and, very few animals, not a whole lot the computer would have to worry about beyond following lane lines and maintaining a set speed. trucks are big and heavy and expensive and easier to outfit with these sensors. the other thing that's going on is the trucking industry can't find enough drivers. shortage, industry based about 50,000 jobs that are unfilled and they think that number is going to triple over the next decade. he sort of have this collision need and also a technology opportunity. there are some questions about how good this is going to be for workers. while trucking is a job that not a lot of people want, it is for some people the only job they can possibly get. speaking of collisions,
you talk about one company in particular, scar suit -- starsky robotics. you have truck drivers and coders working together. >> it's a startup based in silicon valley. i get interested because basically they were very thoughtful about the collision between silicon valley and what you might think of as the middle of the country or blue-collar workers. about hows talking when he hires a truck driver, he has to have them a little warning about what it's like to work with engineers. people are from san francisco and i've got to warn you, they buy expensive jeans and they've had opportunities that are out of this world and by contrast, when he hires an engineer, he has to give them a similar thing, you are working with a different are the workforce, a part of the workforce that is
negotiating different six-figure jobs for giant tech companies. carol: many of them voted president trump. >> truck driving is much bigger and from country that it is in blue states. next, reno is turned a little more like silicon valley and a little less like reno. oliver: just how much is your job at risk? we will show you what the data says. carol: this is "bloomberg businessweek." ♪
>> reno, nevada is in the middle of a huge boom as it's been building up a lot of new workforce type of projects since the downturn. reno was a huge foreclosure hugeal, it was unemployment, almost 14% unemployment at the bottom of the market and they started recruiting all of these various new job providers, high-tech manufacturing and the biggest one is tesla, which opened the giga factory to build batteries for the electric cars and the other power sources systems that they have. all of a sudden in downtown reno, a place that was pretty strung out, it was kind of fading, the poor man's vegas, now you have poor over coffee shops and little food halls with different vendors, i have delicious bourbon chocolate truffles. it is that it has a lot of
energy. unemployment is below 4%, it's an incredibly tight labor market and people are moving from out-of-state and the region is really trying to up the skill set to try to be prepared for these kind of new jobs of the future. oliver: all this sounds wonderful, but i'm curious how this came about. reno is a beautiful place and a wonderful place you want to go to start, but maybe not so much, there's a different incentive. that madet about reno it amenable to the companies? a bunch of things going on. in 2011 at the bottom of the market one of them was so high and foreclosures were so bad, the governor signed a bill to diversify the state economy and put money behind that. it came in the form of tax incentives. $1.3 billion in various tax breaks the tesla god. 6500id it would create
direct jobs at the factory plus the knock on effect of all the suppliers and restaurants in all their employees eating out and all that. the location of reno was very good out west, it's kind of smack dab in the center of the western u.s., was allotted is region centers like amazon, zulily, and part of that is because you can get pretty much anywhere in the west within one day of ground shipping. that's been a big boon for them as well and they also have a lot of data center business there as well. google just bought some land that, switches a big private data center. the of that has to do with climate. it's a desert but its high desert and it's really drive. it's not as hard to cool down. oliver: "bloomberg businessweek," created a fantastic graphic that shows you how worried you should be about getting replaced in your job. carol: we talked about with the brains behind that great. >> we want to start by showing
people what jobs have been lost so far and what the status is. back to 1991 where the jobs have been lost in the largest quantities. a lot of its in manufacturing and a lot of housing during the bust in 2006, 2010. we kind of show you what you should be worried about. you guys use colors and boxes. the big boxes show the labor market sectors that have been really hit hard. oliver: i love the design. the theme of this issue is very much about the job market, where jobs are going, where automation fits into that, and some of the answers are put very plainly here. how did you decide to -- is a different aesthetically kind of approach. how did you decide to do it based on the size of the square, the tile, to break it up by the date, it's an interesting arrangement.
>> it's to permit came up with this treatment for the data and we had a lot of discussions about how best to do it. this kind of invites you to look in and see what the biggest industries that are losing. we use the color to give you these overall sectors. the dream for instance is manufacturing. you can see a lot of green in these first 10 years or so. oliver: from 1990 want early 2000, its manufacturing jobs area -- manufacturing jobs. carol: it a lot of green. >> the biggest ones are in retail. can see the story by the economic cycle of where you have manufacturing jobs disappearing from the 1990's to the 2000 and then during the crisis, ucl is construction jobs, all the yellow on the table. as holmes stopped getting built.
all this stuff. now which am. to me was a big chunk for mining. i highlighted this in the notes, the mining jobs specifically it was heard a lot from president trump on the campaign trail and now as president, he's talking about bringing these jobs back. it's an area that's been decimated. >> the biggest block is definitely in mining. oliver: there are two different ideas, jobs that have been lost and than the jobs that potentially could be lost. tell us about how you leverage that data to figure out what belongs in each part and how to view the future. >> the data for the second piece -- carol: that's a chart plot. of us who listen to bloomberg or watch bloomberg, we talk about the dot plot the federal reserve so much, to get an idea with the numbers of the fed think in terms of where interest rates are going. i reminded me of the fed dot
plot, but you do it with the job representation to get an idea of which jobs are most secure in which are least secure. >> you see on the left side which shows the jobs that are least likely to be replaced by robots, which is a lot of things like teachers and physicians. carol: you said medical school, so i think you going. >> the health industry is going to be fine. on the other hand, you are ,eeing a lot of these retail stuff that doesn't require formal education is also in the lower right corner. it's the most at risk. how the gig economy isn't so flexible at all. carol: and wi-fi grid right may not be you think -- why frank lloyd wright may not be do you think he is. that's next on "bloomberg businessweek." ♪
"bloomberg businessweek." i'm carol massar. oliver: i'm oliver renick. you can also check us on the radio, 90 91 fm in washington, d.c. nam 960 in the bay area. in london on dab any >> nm asia on the bloomberg radio plus app. oliver: common knowledge that u.s. workers commonly swap jobs. carol: the data tells a different story. >> there's a perception that people switch jobs were often. looking at the economic data, there's been a lot of research about this coming out from economist in the last couple of years, it seems like the opposites been going on, especially for the past 15 years or so. median job tenure has been rising higher than it was any time in the 80's or 90's. people are switching jobs less frequently. people move less frequently. and so on. a contrarian be
here, but maybe we are not measuring the data accurately. is that fair? >> part of it when you look at the job tenure, the question the bureau of labor statistics asks is how many years -- they ask people with wage and salary jobs how years have you been with your current employer. as for .2 years as the overall median, higher than it used to be. the lower that was a couple years ago. for middle-aged man, it's actually declined since the 80's or 90's, which changed, women are staying in the labor force longer and especially women after having children are much more likely to stay in their jobs than was the case in the 70's or 80's or early 90's. oliver: it seems like there's a lot of different inputs here to the overall number and hard to figure out which one is contributing what. >> that's definitely true.
any of these things, you dig deeper into the data and he gets more confusing. still, there does seem to be something real going on, especially since about 2000, where people who have jobs are sticking with them and that's not necessarily all positive. maybe people are sticking with their jobs because they are afraid of what will happen if they try switching, or there aren't any attractive jobs to switch to. carol: you mentioned that maybe because there are less startups, that may be contributing also to what's going on. >> right. start up rates have declined, in the nationwide, economy wide scale, there are fewer startups. more and more industries are getting more and more consolidated. clearly, new companies and growing companies often on the
ones doing a lot of the hiring, and when there's less of that, there's less reason to be switching jobs. at frankcent changes lloyd wright's foundation and school are putting a twist on the legendary architect led -- legacy. oliver: we talked with amber rosenbloom. -- >> this year he would have turned 150 years old, there are a number of celebrations and the biggest one is that moma, the museum of modern art in new york. they have a huge new exhibit about his life and his works and it's a very important new look at his life. his interest in story behind all this stuff got to the museum. for a while, it faded into the in a frank lloyd wright memorial in somewhere. museumfrank lloyd wright
has very tight controls over his archives after his death. there's a long time that they've been keeping them derelict in the basement, most of because his widow wanted to have that control. has the studyo and the amount of stuff that people can know about him has languished. you thousand 12, with new thinking at the head of the foundation, they were and releasing the archives to moma and since then, moma has been planning this big celebration an event based on his 150th birthday. what they've done is they've gone through all the archives, which has a lot of stuff that you wouldn't think. they've given a lot of scholars to illuminate frank lloyd wright cinematically. who -- stuff in there even people who think they know frank lloyd wright and his iconic buildings don't know about him. that's why the exhibit is getting so much great press, we
are really uncovering these signs of him you wouldn't know otherwise. carol: it seems like ecosystems and farming an extra rental farming and education for black children in the rural south, who knew? >> nobody would have known this without this exhibit and the archives being released. also, in choosing things about the development cities. frank lloyd wright famously said didn't like cities and new york was a testament to agreed -- to agreed to but there are a number of city didn't like ciw york was a testament to models e exhibit. oliver: it's interesting to see inside the mind of someone whose work we are familiar with and think about this stuff beyond buildings and architecture, the howetal impact of art and they are bringing in a lot of different directions. >> as you sit, particularly the societal aspect, you really nailed what american architecture was an modernism in america was.
as opposed to in europe, which was kind of these big white boxes, he did appear a house in america and that has become the iconic symbol of american modernist architecture. it is exhibit, there is tons of stuff related to look at and people will really learn a lot about them and they thought they knew about erie -- they knew about. carol: "bloomberg businessweek," is available online right now. oliver: a lot about jobs in this issue. i liked that graphical representation of what has happened to jobs and what may happen to jobs in terms of automation. and you canerg.com play around with the data sets. oliver: i like the very in-depth looks at the gender wage gap, addressing an important topic in the most exhaustive way we've seen in some time. i like the narrative about the coders working with the truckers are learning to work with each other in different backgrounds and what it means for jobs and automation.
♪ shery: coming up on, "bloomberg best," the stories that shaped a week in business around the world. the u.k. and the e.u. begin talks on brexit and cannot takes a landmark step in global financial markets. saudi arabia announces a succession shakeup. and oil stumbles into bear markets. >> the sentiment is relatively negative. >> too much oil in the market. shery: pulling the person strings of economies across the globe, talking about their target and challenges. >> at the end of year, we will be ready to go into market. >> we are just not going to be