The Gustonomics Podcast
Join Gusto’s Lead Economist, Liz Wilke, as she charts the economic landscape for busy owners of 21st-century businesses. In each 10-minute episode, Liz discusses economic concepts and trends for entrepreneurs who want to make smarter business decisions in a changing world.
Episodes
In this final episode before an indefinite hiatus, Liz and Caleb revisit some of the topics from past episodes.
Tax credits are a popular tool of policymakers to influence the behavior of people and businesses. But they don’t come without tradeoffs or cumbersome rules to follow. Caleb and Liz discuss.
ShownotesAre Today’s Tax Credits the Best Way to Get Americans to Buy E.V.s? [NYT]
In the midst of a surge of antitrust lawsuits from the last several years, Caleb and Liz break down monopolies, anti-competitive behavior, and what it means for small businesses.
ShownotesGoogle, Visa, JetBlue: A Guide to a New Era of U.S. Antitrust Cases [NYT]
‘Google Is a Monopolist,’ Judge Rules in Landmark Antitrust Case [NYT]
After Google Antitrust Ruling, Here’s Where Other Big Tech Cases Stand [NYT]
Who or what caused the jump in inflation from the past few years? There is no shortage of alleged culprits, and one popular theory is that it’s been driven by exploitative prices at the grocery store (aka, price gouging). Caleb and Liz discuss the role of price gouging, and how much blame (or not) it deserves.
ShownotesFor decades, free trade had been touted by business leaders, economists, and policy makers as the best way for countries to exchange goods and services. But that’s all changed in the last several years, as tariffs have re-entered the conversation as an effective tool to protect American businesses. Caleb and Liz discuss the trend, what it means for small businesses, and where things go from here.
ShownotesTwo of the most critical categories of goods for consumers—food and energy—aren’t considered for one of the most critical measures of inflation, Core CPI. Why is that? Caleb asks the questions, Liz has the answers.
ShownotesConsumer prices up 2.9 percent from July 2023 to July 2024 [BLS]
Consumer Price Index News Release [BLS]
Real Earnings Summary [BLS]
Real Earnings News Release [BLS]
Consumer Price Index [BLS]
Caleb and Liz discuss the most recent jobs report that shows a little softness, as well as the increasing cost of homeowners insurance and how that will ripple through the economy.
ShownotesEmployment Situation Summary [BLS] Job Openings and Labor Turnover Summary [BLS] US home insurers suffer worst loss this century [FT, sub required] Billion-Dollar Weather and Climate Disasters [NOAA]
Positive economic signals continue to surprise observers. Caleb and Liz discuss the factors that pushed second quarter GDP to exceed expectations and what that means for small businesses.
ShownotesGross Domestic Product, Second Quarter 2024 (Advance Estimate) [BEA]
It’s an unfortunate reality that many Americans have insufficient savings in their retirement accounts, if they have access to one at all. In an effort to give Americans a better chance to save, many states have turned to state-sponsored retirement plans. Many of these plans either require businesses with as few as a single employee to either offer a retirement plan, like a 401(k), or enroll that employee into the state’s plan. Cal...
Perhaps the best indicator of a recession is known as the Sahm Rule. But it’s little known outside the economics world. So what is it and how can regular everyday businesses make use of this esoteric economic indicator? Caleb and Liz talk it out.
ShownotesPersonal Consumption Expenditures: Chain-type Price Index [FRED] The Federal Reserve's Dual Mandate [Chicago Fed] Full Employment [Econ Focus/Richmond Fed] Sahm Rule Recession In...
The economy has been incredibly resilient in the wake of the pandemic, strong even. Yet survey after survey continues to show that many people don’t share that perspective. In this episode, Caleb and Liz discuss this phenomenon, the contradictions within it, and how we can separate reality from all the noise.
ShownotesAnger about the economy is everywhere [Stay-At-Home Macro (SAHM)]
Revisions to economic data are crucial so users of that data have the most accurate and current information possible. Still, recent revisions to the Bureau of Labor Statistics’s monthly job report have been larger than some observers would like. Caleb and Liz discuss the trend and how we can think about them in the broader business climate.
ShownotesThe Employment Situation [BLS]
The economy continues to defy expectations, remaining strong in many fundamental areas despite many warnings of tough times ahead. In this episode, Caleb and Liz discuss the latest jobs report, inflation, interest rates, and the other factors that are keeping the economy in fine shape.
ShownotesThe Employment Situation [BLS]
There’s a widespread belief that Millennials are fickle job-hoppers. And while that may be true, particularly early in their careers, data shows that they’ve been about as likely to change jobs as Baby Boomers were at the same age. Caleb and Liz discuss the trends, possible explanations, and what employers should think about when it comes to hiring and employee retention.
ShownotesNational Longitudinal Surveys [BLS]
Boomers data: ...
Gusto’s third annual New Business Formation report found that the entrepreneurship surge that began during the COVID-19 pandemic continued in 2023. Caleb and Liz discuss some of the report’s key findings, including the impact of artificial intelligence and remote/hybrid work.
ShownotesHousing is one of the hottest topics in economics right now, and it’s no wonder. It reaches all corners of the country, and countless small businesses are impacted by its effects. In this episode, Liz welcomes one the foremost minds on the subject: Orphe Divounguy, Senior Economist at Zillow.
Shownotes- Orphe Divounguy [Zillow]
- Orphe Divounguy [LinkedIn]
- Everyday Economics [Apple Podcasts]
A recent analysis of Gusto data by researchers from Stanford University, ITAM, the Hoover Institution and the Gustonomics team found that Americans are living farther away from their employers. Caleb and Liz discuss the findings, what they indicate, and the current state of the remote/hybrid work evolution in America.
Shownotes
Americans Now Live Farther From Their Employers [Gusto Blog]
New reports from the Bureau of Labor Statistics—JOLTS and The Employment Situation—show that the economy is….fine. Not bad, but also not great. Employers and workers are both biding their time, an economic phenomenon that Liz has coined as The Great Wait.
ShownotesThere’s been a lot of discussion around marriage in economic circles lately, so Liz and Caleb take up the topic in this episode, putting into perspective for small business owners and entrepreneurs.
Like all fields, economics has a language all its own, and more than its fair share of acronyms. In this bonus episode, Liz explains one of those acronyms--JOLTS--that was in the news lately, what you should know about it, and how it's relevant to business owners.
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