Today’s News & Commentary — October 24, 2017
Under Mayor Rahm Emanuel’s budget proposal, taxes on ride share companies would increase by 15 cents per ride in 2018 and by 5 cents more per ride in 2019. This move comes in part due to advocacy by taxi companies, but ride share would remain the less expensive option in many cases. The proposed increase is projected to generate an additional $16 million for the Chicago Transit Authority in 2018, and an additional $5 million in 2019. The Emanuel administration estimates that the ride share apps have cost the city and nearby local governments $40 million in lost revenue.
Online job postings for bilingual workers more than doubled between 2010 and 2015, reports the Boston Globe, amid other indicators that language ability is increasingly important to employers. Though highly skilled jobs grew more quickly, the majority of bilingual jobs don’t require a bachelors degree
Demand is also acute for professionals with expertise in artificial intelligence, who are being courted by both Silicon Valley and the auto industry. Typical salaries are between $300,000 and $500,000 per year, and many are drawn away from academia. Observing the fruits of their work, the Wall Street Journal euphemistically reports that artificial intelligence will allow–and is already allowing–firms to cut labor costs and free up humans to do more complex work.
Middle-aged Americans’ health is declining and life expectancies are stalling, reports the Boston Globe. Nonetheless, almost one in five Americans is still working in their early 70s. In retirement, the Washington Post observes that paying for college tuition for a grandchild can present a significant challenge. A rising number of children are being raised by their grandparents.