Fed Chair Powell just said the labor market is getting vulnerable. Friday’s jobs report could prove why
CNN
The pandemic threw the US job market into chaos, but four years later, things finally seem to be back to normal.
The pandemic threw the US job market into chaos, but four years later, things finally seem to be back to normal. Monthly job gains have slowed but remain stable, labor demand and supply have come more into sync, there hasn’t been a rash of layoffs and the overall economy and spending have held up just fine. Most indicators support the idea that the labor market is no longer overheated and could easily maintain a new normal of steady, but slower growth. Federal Reserve Chair Jerome Powell said as much Wednesday: “A broad set of indicators suggest that conditions in the labor market have returned to about where they stood on the eve of the pandemic: strong, but not overheated.” Economists expect that Friday’s July jobs report will show a net gain of 175,000 jobs — a touch below the average for the past three months — and for the unemployment rate to hold steady at 4.1%, according to FactSet consensus estimates. “This is a labor market that’s otherwise moderated,” Nick Bunker, director of North American economic research at Indeed, told CNN.
Gannett, the nation’s largest newspaper owner, announced that its more than 200 publications, including USA Today, will not publish presidential endorsements in the run-up to the November 5 election.
In the next four days, a fire hose of data will be unleashed, providing crucial snapshots of the US economy in advance of a pivotal election and a Federal Reserve meeting.
Americans are emerging from a yearslong funk about the economy, with the presidential election just a week away.
CNN says a right-wing commentator will not be welcomed back on air after he made a racist remark on “CNN NewsNight with Abby Phillip.”
So long to all that “free” money.
Americans around the country avoided McDonald’s last week after an E coli outbreak that left dozens of people sick after they ate Quarter Pounder hamburgers.
Partnerships with influencers have become an increasingly popular campaign strategy. But a regulatory gap means that unlike political ads that run on TV — or typical sponsored content that influencers post for brands — content creators are not required to disclose if they’ve been paid to endorse a candidate or speak about a political issue on their page.
If reelected, Donald Trump has made clear that he plans to exact revenge on the people and institutions he perceives as a threat. His “enemies” list seems to be constantly growing as the election nears, and includes Democratic politicians, the media, lawyers and political donors who he believes were “involved in unscrupulous behavior.”
The Washington Post owner Jeff Bezos, in his first public comments since igniting uproar last week over his decision to withhold the venerable newspaper’s endorsement in the presidential race, defended the move in a rare op-ed published Monday evening by the Post.
The ripple effect of Jeff Bezos’s decision to block The Washington Post from endorsing a presidential candidate continues to reverberate through the newspaper, as a tidal wave of readers cancel their subscriptions and nearly one-third of the Post’s editorial board step down in protest.
Apple Intelligence launched on Monday, but the rollout is just a glimpse of how Apple hopes to transform its products with AI.