What I’m Reading
Poached: Boise, Idaho has an interesting jobs dynamic that I suspect is playing out in other so-called ‘Zoom towns’ as well. Historically low local wages, coupled with a strong talent pool have made Boise a target-rich environment for coastal companies – especially in tech – looking for remote workers. This, in turn is making it difficult for local companies to hire, especially given that the local unemployment rate is below 3%. The dynamic is putting substantial upward pressure on local companies to increase wages but they have not been able to keep up. Boise Dev
Shelter In Place: The emergency of the Omicron variant of COVID will likely continue to fuel inflation as it makes it more likely that Americans keep consuming goods rather than services like traveling, dining out, etc. CNBC
Boomerang: Persistent supply chain woes have some companies looking at reviving their US manufacturing operations, with a new focus on security over cost. NY Times My guess is that Mexico could be the big winner here as it offers the best compromise between security / proximity and cost.
Round Trip: Lumber prices are back near their peak, nearly tripling after plunging last summer. As a result, builders are once again focused on ways to mitigate upward cost volatility by including escalation clauses in contracts and building more on spec. Globe Street
Home Run: Walmart is significantly scaling up its delivery service that allows it to enter a customer’s home or garage to deliver groceries and other purchases or pick up returns. Chain Store Age
Chart of the Day
China’s terrible demographics are a big problem that doesn’t get nearly the attention that it should, IMO.
Source: The Daily Shot
WTF
Hell on Wheels: A 74-year old man on an electric scooter was arrested for allegedly chasing two people with a knife and threatening to stab them because Florida. Click Orlando
Mailing It In: A man was arrested after taking delivery of 2.6 lbs of cocaine in the US Mail because Florida. Tampa Free Press
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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