Millennials, Gen Z, Republicans, and Democrats agree: The economy sucks. | Alibaba's stock dropped so much that Jack Ma reversed a plan to sell shares for his other investments | The Stay-or-Pay Clause That Demands You Pay to Quit Your Job | Canada's unprecedented housing crisis could be a warning sign for the US

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Millennials, Gen Z, Republicans, and Democrats agree: The economy sucks. - Business Insider

At long last, Thanksgiving tables across the country can find common ground on one topic: the economy.

Americans are feeling pretty miserable about the economy these days. A Suffolk University Sawyer Business School/USA TODAY poll of 1,000 Americans from September 6 to 11 found that 70% of respondents said the economy was getting worse, even as inflation continued to come down and job openings increased.

On top of that, it's a rare issue of bipartisan — and generational — agreement: in that same poll, 96% of surveyed Republicans said the economy is getting worse, along with 76% of independents and 34% of Democrats. And in an August USA Today survey conducted by The Harris Poll of 2,000 US adults, 65% of Gen Zers and 74% of millennials believe they are starting further behind financially than other generations.

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Alibaba's stock dropped so much that Jack Ma reversed a plan to sell shares for his other investments - Business Insider

Alibaba cofounder Jack Ma reversed plans to sell the company's stock following a slump in its stock price last week.

The Chinese tech giant dropped plans to spin off its $11 billion cloud business last Thursday. The company's stock sank in response, wiping out $26 billion in value over two days.

Ma's family trust was set to sell 10 million American Depository Shares of the company worth $870 million on Tuesday. The regulatory filings for the sale were also made public on Thursday, weighing on investor confidence.

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The Stay-or-Pay Clause That Demands You Pay to Quit Your Job - The New York Times

Some U.S. businesses are forcing workers to sign contracts that demand steep “reimbursements” if they leave.

Benzor Shem Vidal started caring for his nonverbal autistic brother when he was 12. Vidal’s parents, who lived with the two boys in a small house in steamy Cebu City in the Philippines, didn’t have the money to send his brother to special-education classes, so when Vidal came home from school each day, he would find his brother mumbling to himself in the living room. Vidal would prepare him some food, making sure that he drank water between bites so he wouldn’t choke. Vidal went to nursing school and graduated second in his class, perhaps because he already had a decade of informal experience. When his mother died in 2020, Vidal’s father became his brother’s sole caretaker, leaving Vidal to be the wage-earner for the family. He needed to make more money. So last year, at 26, Vidal moved to America to work at a nursing home in Brooklyn.

According to Vidal, Advanced Care Staffing (A.C.S.), the staffing agency that hired him, promised he would be responsible for 20 to 30 patients, but the reality was more than 40, leading to a dangerous and unmanageable workload. On two occasions, he was the only nurse on his floor, responsible for upward of 80 patients. Some days he would wheel an oxygen tank into the room of a patient who was struggling for breath and begin administering lifesaving oxygen, only to hear another patient screaming in pain and drilling the call button. “I’m just by myself,” he said to me, trying to explain his feeling of helplessness at the time. “I cannot split myself.” Vidal was so busy he rarely had 10 minutes to rush to the kitchen to microwave his lunch. He was terrified that someone would get hurt and he would lose his nursing license, probably the most valuable thing he possessed. He started to get headaches — to feel sick and exhausted all the time. Fourteen weeks after starting the job, he told A.C.S. he wanted to quit.

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Canada's unprecedented housing crisis could be a warning sign for the US - Business Insider

The housing affordability crisis in the US is bad — but America's neighbors to the north may have it worse.

The average home value in Canada has more than doubled since 2011. The country is also almost certainly heading toward a recession — if it's not already in one — and the housing market is partly to blame, economists say.

The drivers? Demand has raced ahead of supply. The country simply isn't building enough housing. Mosche Lander, a Concordia University economist, argued that city governments, which largely control housing policy, were "biased towards homeowners and not towards renters," supporting policies that limit homebuilding and keep home values elevated. Investors pouring money into real-estate speculation haven't helped. And record population growth from immigration has only added to demand.

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