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Tech

How technology changes work and everyday life.

Follow the technologies reshaping jobs, ownership, privacy and daily routines. We examine what new tools make possible, who controls them and how their consequences reach beyond the launch announcement.

Latest Stories

White-Collar Business Is Growing. The Jobs Aren’t Coming With It.

White-collar America is producing more while employing fewer people, a shift that could change one of the basic assumptions workers have made about economic growth. An analysis by Gad Levanon, chief economist at the Burning Glass Institute, found that employment across finance, insurance, information and professional and business services has fallen roughly 2% since the end of 2022, while real output from those same industries has increased approximately 16%. For roughly two decades before that point, employment and output largely moved together, with stronger business activity generally creating demand for additional workers. That relationship has now separated enough for Levanon to describe the trend as evidence that something unusual is happening inside the professional economy. Business Insider subsequently highlighted the analysis as an explanation for why many white-collar workers are encountering a job market that feels dramatically weaker than corporate activity would suggest. Demand for what these businesses produce has not disappeared, but companies increasingly appear capable of satisfying that demand without expanding payrolls at the same rate. For workers, that means a growing company or industry can no longer be assumed to be a growing source of jobs.

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Getty Images Built Its Business on Scarcity. AI Just Broke That Model

Getty Images is preparing to leave the public markets through a restructuring that will place the company entirely in the hands of the Getty family and Koch Equity Development, the investment arm backed by Charles Koch. The transaction includes up to $533 million in new equity, while holders of Getty’s unsecured bonds have agreed to retire $270 million in outstanding notes and secured lenders will reduce interest obligations and extend maturities. Getty plans to complete the transaction through an expedited prepackaged Chapter 11 process involving certain U.S. entities, with the restructuring expected to conclude by the end of 2026. Once the process is complete, affiliates of the Getty family and Koch Equity Development will own 100% of the reorganized company. Getty says operations, employees, contributors, customers and vendors are expected to continue normally during the process. The structure makes this less a traditional buyout than an effort to repair Getty’s balance sheet while giving its new owners more room to reposition the business outside the scrutiny and short-term expectations of public markets.

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