Meet the people who never retire

October 08, 2024

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Read time: 1.5 minutes

Good Afternoon Party People! 🎉

PARTY PLAN đźŽ‰

🏛️ Meet the people who never retire

🤨 Does AI really increase productivity?

✖️ Tech layoffs in 2024

And, of course, MEMES!

MEME OF THE DAY

WORKFORCE

So, Why Do People Never Retire?

Retirement sounds nice, eh? Sipping margaritas on the beach. Relaxing all day, every day. Not a care in the world!

But some people choose to work later in life. Why?

According to US News and the Bureau of Labor Statistics, workers 70+ make up 5.8% of the workforce.

“Financial professionals say these are some of the reasons they see people staying in the workforce in their seventh or eighth decade and beyond.

  • They want to earn income.

  • They failed to save for retirement.

  • They like the social aspect of work.

  • They find work to be personally fulfilling.

  • They want to remain healthy.

  • They see no reason to stop working.”

And the tough reality is that some people need to continue to work.

While working has a negative connotation, there are tons of benefits to remaining employed later in life.

Maybe work is fulfilling. Maybe it helps people maintain a consistent schedule and a healthy lifestyle. Maybe it allows them to meet new people and keep a thriving social connection to others. And it’s possible that the income allows them to take more vacations and enjoy their weekends.

Maybe retirement isn’t all that it’s cracked up to be.

Sure, work is seen as…well, work.

But maybe work has a few positive benefits that aren’t talked about enough?

AI

Does AI Really Increase Productivity?

We’ve all heard promises about how AI is supposed to massively improve efficiency and productivity. Maybe we’ve even seen people use AI to drastically speed up their output.

But does AI really increase productivity?

Federal Reserve Governor Lisa Cook doesn’t think so.

The reason? Companies aren’t investing too heavily into AI…yet. And this “toe-dipping” into AI hasn’t led to conclusive evidence in terms of productivity.

“Recent ground-breaking innovation in artificial intelligence and other technology has yet to show signs of lifting productivity, Federal Reserve Governor Lisa Cook said Tuesday, as companies seeking business insights and efficiency gains channel billions of dollars into generative AI.”

Right now, companies are in the “experimentation phase” of utilizing AI. Many employees are using tools like ChatGPT, Perplexity, and Cursor for assistance in the day-to-day.

And most would argue that it’s helpful. But is it a full-on productivity supercharger?

Not quite yet…

All it takes is one company to create the playbook for true AI productivity, and more will follow.

It’s still early for AI, folks!

LAYOFFS

Full List of 2024 Layoffs

Unfortunately, tech layoffs are still prevalent in 2024.

In tech, 457 companies have cut 130,000 jobs. Many startups have closed their doors and major companies (like Amazon, Tesla, Google, Snap, etc) have drastically reduced headcount.

TechCrunch compiled a comprehensive list of layoffs this year. And the good news? Not many layoffs in September!

For the full breakdown of layoffs by company, check out TechCrunch’s article here.

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