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Why Men Are Dropping Out Of The Workforce; What Is A Metaverse? Aired 4-4:10a ET
Aired December 16, 2022 - 04:00:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
COY WIRE, CNN 10 ANCHOR: Hello, everyone. You made it to Friday, and you already know Friday`s rock.
Now, this is a last show of 2022, and one thing making it extra special is that you helped write it. See if you can find your word that you sent me
via social media sprinkled somewhere within.
I`m Coy. This is CNN 10. Let`s finish this week`s strong.
We start with news on the economy, specifically the labor force. Employers need workers and that`s good news. There`s nearly two job openings for
every job seeker. The shortage of workers in the United States has many employers ready to fight to retain talent. This is especially good for
previously untapped labor populations where traditionally it was difficult to get a job.
And it also seems particularly good news for job-seeking women. The last jobs report revealed that 62 percent of the job gains last month went to
women, narrowing the gap in labor force participation rate between men and women.
New data this week shows that middle-aged men ages 35 to 44 have been slow to rejoin labor force recently the participation rate for men ages to 30 to
44 is lower than it was before the pandemic. Economists say there are many reasons the male labor force participation rate is down, including changing
needs and interests in the post-pandemic world.
We`ll hear more now from CNN reporter Vanessa Yurkevich who has reported extensively on the labor market.
DAVID SHNITZLER, AT-HOME DAD: Good morning, Winston. Let`s start the day.
YURKEVICH (voice over): It`s a typical day in the Shnitzler household. Seventeen month old Winston is up and parents David and Allison (ph) are
getting ready for work. Winston is fed, there`s some play, and then the morning good-byes.
ALLISON SHNITZLER, FAMILY PHYSICIAN: Bye-bye.
D. SHNITZLER: Say bye-bye.
YURKEVICH: They`re off to work.
A. SHNITZLER: Bye-bye. Have a good day.
YURKEVICH: Allison, a family physician, and David, an insurance underwriter, now an at-home dad.
D. SCHNITZLER: Caring for Winston, tending to the house, playing with him, all of that comes first.
YURKEVICH: Last year the Schnitzler`s made a significant life change.
D. SCHNITZLER: We made that decision to have me stay home.
YURKEVICH: David quit his job to take care of Winston full time so Allison could continue her career.
D. SCHNITZLER: We`re happy with the roles that we`re in. It`s phenomenal.
YURKEVICH: And in recent months, more men ages 30 to 44 have been dropping out of the workforce according to data from the Bureau of Labor Statistics.
The labor force participation rate for men in that age group is lower than it was pre-pandemic.
RICHARD V. REEVES, SENOR FELLOW, BROOKINGS INSTITUTION: I don`t think it`s a secret that many of us rethought our whole work life balance, what were
we doing, who`s raising the kids, how do we want our family to work? That`s a question that a lot of families have been asking themselves.
YURKEVICH: And more women in recent months ages 30 to 44 are participating in the labor force and at a higher rate than pre- pandemic according to
Labor Department data. And they`re moving into more male dominated industries.
REEVES: The fears of a she-cession turned out largely to be unfounded. Women are returning to the labor market. It`s becoming increasingly common
to see women, for example, having project management roles or generally management positions within construction.
YURKEVICH: Women like Ava Sedaghat.
AVA SEDAGHAT, PROJECT ENGINEER: I knew I wanted to work in construction management.
YURKEVICH: Sedaghat joined the construction industry two years ago as a project engineer. Today, women make up just 14 percent of the construction
industry, but it`s the highest on record.
SEDAGHAT: I think it was definitely intimidating. My only knowledge of the construction industry was that it was pretty heavy and male dominated. But
the more that I started working in the industry and the more people I came into contact with, I think I realized pretty quickly on that there`s a
place for everyone in construction.
(BEGIN VIDEO CLIP)
WIRE: Ten-second trivia:
The term "metaverse" was coined by:
A science fiction writer, the founder of Facebook, a programmer at Google, or a college professor?
In 1992, the term metaverse was coined by sci-fi writer Neal Stephenson.
(END VIDEO CLIP)
WIRE: Ever since its inception, the metaverse has had many people flummoxed, even flabbergasted. Is it simply like a video game or could it
evolve actually into a common way of life?
In the metaverse, you can virtually be transported from your couch to a classroom, from a living room to a work luncheon. You could walk alongside
a hippopotamus on safari or wear a spinny hat and get rambunctious with friends at a concert by Bieber, Drake in the weekend, and you wouldn`t even
have to leave your room.
While this technology is catching up with fantasy, it`s still being built and is constantly evolving.
CNN reporter Anna Stewart has more from Dubai.
ANNA STEWART, CNN CORESPONDENT: Remember this movie?
The concept of a virtual universe is rooted in science fiction and for years, it`s been just that fiction. But now, technology is beginning to
catch up, bringing the idea of the metaverse to reality.
It`s home to concerts, expensive digital real estate and hugely popular games. But what exactly is the metaverse? What does it do, and why should
Let`s break it down.
NEAL STEPHENSON, AUTHOR, SNOW CRASH: It means a virtual environment.
STEWART: This is Neal Stephenson. He came up with a term metaverse back in 1992. For his book "Snow Crash".
Back to you Neal.
STEPHENSON: Where large numbers of people can get together and interact with each other, not as they are but through avatars, which are kind of the
STEWART: For so long, our experiences with the Internet have been 2D, it`s been something we look at. But the metaverse gives users the sense of being
transported into the Internet like this.
ANDREW BOSWORTH, CHIEF TECHNOLOGY OFFICER, META: Hello.
STEWART: Meet Andrew Bosworth, also known as Boz. He works at Meta, formerly named Facebook.
Do we shake hands? How does this work?
BOSWORTH: We can do a high five.
STEWART: This is Horizon Workrooms, the company`s foothold in the metaverse. It`s just one of the many ways into the metaverse that are
In these virtual worlds, you can play games, do business and dance with strangers that turn into friends, except that this friend could be on the
other side of the world.
BOSWORTH: Is it as good as being together? No, and it probably never will be, but it`s the next best thing.
STEWART: This all sounds exciting, until you realize that the technology for building this new iteration of the Internet is -- well, still being
For now, it`s this place where you can be whoever you want and immerse your virtual self into this alternative world that pushes past physical
barriers, to collaborate and interact with other virtual avatars, objects and environments.
As promising as it all may sound, we still have a long way to go before we`re living like this.
WIRE: Then for today`s 10 out of 10, a viral reunion viewed more than 10 million times. Baby Kucheza struggled to breathe after Mama Mahale gave an
emergency C-section birth at the Sedgwick County Zoo in Kansas. Fortunately, doctors saved Baby Kucheza, a sweet, adorable little
chimpanzee. Well, after being separated for two days during recovery, take a look at the moment that mama realized her baby was back, reaching for
You can feel the relief. Mama swooping her baby up cuddling her safely in her arms. That is love.
As I mentioned earlier this is our last show of the year. So special shout out to Mrs. Barnes` class at Hopewell Middle School in Milton, Georgia.
Also a special shout out to our small but mighty CNN team, Jackie, Maya, Nadir and Jeremy. They work so hard -- care so hard to make this the best
10 minutes in news for you.
And I speak for all of us when I say thank you for all the love you`ve shown. We love learning and growing with you, being unified, inspired and
uplifted by the stories we share. We`re going to miss this while we`re on a break for the holidays. We`re back January 9th and we wish you many
blessings and a happy holidays.
Let`s finish this year strong so we can take boundless energy into 2023. We leave you now with some of the powerful images of the places, people and
stories we learned about together. I`m Coy Wire and it`s been a blessing to spend 2022 with you.