Federal Reserve Bank has come up with their new Beige Book. It contains a typical word to describe an increasing trend in the workplace, which is known as ghosting. It is more formally being regarded as the Summary of Commentary on Current Economic Conditions by Federal Reserve District. The situation is defined as a situation wherein a worker stops attending office without any prior notice and then it becomes impossible for the office to contact their employee. Till this point, ghosting was quite exclusively used to refer to one particular person who disappears from a romantic relationship. Often, the situation is not seen as a big deal and not regarded as a terribly rude thing. This is of course till the point; the couple has already spent enough time with one another.
Earlier in the year, Quartz at Work reported that word was getting drifted into the workplace. Now, the appearance of the word in Fed’s book during this week has marked off a new milestone. It clearly shows that ghosting has officially arrived at work. Employers must know that this thing can happen at any point in time. Ghosting can start off right after a job interview, after hiring an employee or even after anyone has already started off with their job. In quite an embarrassing way, this is a positive sign of being a strong economy and an equally strong labor market. The rate of unemployment has been lurking below 4% for quite a number of months. It has been almost 50 years since the time it was this low.
In order to produce the Beige Book, the economists of Fed collect and make a summary of the notes from the country’s regional offices of Federal Reserve Banks. They are the ones who share the trend that they hear from branch directors and whatever they could observe from interviews with some key business contacts. The report is named in this manner purely because the cover of the printed editions comes up in a dull shade. Concrete data on hosting is still to get materialized but some reports suggest that it is taking place in different categories of jobs. It is happening quite regularly not only at hotels and restaurants but also in offices.