It may seem like the booze industry is ale-ing. Young people are drinking less than earlier generations. Rich-world governments warn that there is “no safe level” of alcohol intake. But we explain why the industry’s glass is fuller than you may think. 

Elsewhere we ponder why American women are leaving the labour force. This year the male-female participation gap has seen its biggest increase since the 1950s. Might a mini post-pandemic baby boom lie behind the trend?