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☆ The good economic news this week was just that … good news
▼ + stars: | 2024-06-15 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

CNN —“Good news is bad news” has been a common refrain for a while now. When economic reports are released that are solid, they have all too often been clouded with concerns that good news for the economy actually means a longer wait before the Federal Reserve rolls out rate cuts. Inflation as measured by the Consumer Price Index cooled more than expected in May, with prices holding flat on the month for the first time since July 2022. The markets don’t seem to be buying the one-cut plan, especially after the Producer Price Index on Thursday showed that wholesale prices fell from April to May and the BLS’ Import and Export Price Index showed that US imports prices fell 0.4% in May after rising 0.9% in April. And more good news is likely on the way this next week and later this month, Brusuelas said.

Persons: CNN —, ”, Joe Brusuelas, —, ” Brusuelas, spoilsport, Price, ” Chris Rupkey, “, ” Rupkey, Brusuelas Organizations: CNN, Federal Reserve, RSM US, New York Fed, National Federation of Independent, Consumer, Index, BLS, Price, FwdBonds, CPI, PPI

It's so treacherous to summit Mount Everest that human remains are a common sight on its frigid mountainside. Among the frozen bodies are many ethnic Sherpas — an Indigenous people who make up the majority of Everest climbing guides. AdvertisementSherpa Tenzing Norgay and Edmund Hillary were the first to successfully summit Mount Everest in 1953. AdvertisementClimbing Mount Everest can be deadly, no matter who you are. Mountaineers line up during their ascent to summit Mount Everest in Nepal.

Persons: —, Norgay, Edmund Hillary, Phurba Wangchhu, Sam Rashid, Rashid, it's, Andrew Murray, Geljen Sherpa, Rully Anwar, LAKPA SHERPA, Nachhiring Rai Organizations: Service, Everest, Business, University of Cambridge, Cambridge, NPR, International Federation of Mountain Guides Association, Nepal's Department of Tourism, World Bank, Mountaineers, Getty, Dawa Locations: Everest, Nepal, Kathmandu

☆ A renowned market bear who called the dot-com bubble warns Wall Street groupthink is wrongly leading investors to abandon recession forecasts — and says a 'policy disaster' is brewing as the Fed keeps
▼ + stars: | 2024-05-18 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Various labor market indicators are also showing growing weakness in the economy, he said. Societe GeneraleNational Federation of Independent Business data shows further labor market weakness is likely to come, as small business hiring plans continue to fall. Both stats would suggest a rising unemployment rate going forward. In the meantime, the labor market has consistently proven resilient despite high interest rates, and stocks have enjoyed an eye-popping rally to new highs. Some also argue that labor market data points like the rising unemployment rate have to be shown with context.

Persons: —, Albert Edwards, didn't, Edwards, aren't, we'll, Societe Generale Edwards, Bob Elliott, groupthink Edwards, Alan Greenspan Organizations: Service, Societe Generale, Wall, Business, Societe Generale National Federation of Independent Business, ING, Generale, Unlimited Partners, Bridgewater Associates, of Labor Statistics, Tech

☆ Hattan Alsaif: ‘When I fight, I can feel my soul alive,’ says Saudi Arabia’s groundbreaking MMA star
▼ + stars: | 2024-05-10 | by ( George Ramsay | ) edition.cnn.com time to read: +6 min

Alsaif is acutely aware of her status as a trailblazer for female MMA fighters in Saudi Arabia and takes such a responsibility seriously. I feel I’m alive when I train, when I fight, in the gym – I can feel my soul alive. “When I breathe after the rounds, when I feel sick, when I feel tired, when I feel courage, when I feel scared, those moments, every part of that, it makes me feel alive. It’s something that means a lot to me.”Alsaif (right) competed in Muay Thai prior to MMA. Sadaa, coach of Saudi Arabia’s Muay Thai national team, has been central to Alsaif’s success, though his influence extends far beyond a sporting sphere.

Persons: Hattan, Saudi Arabia –, – Alsaif, “, ” Alsaif, I’m, “ It’s, Egypt’s Nada Faheem, Alsaif, ”, it’s, Abdullah Al, Feras Sadaa, Sadaa, Claressa Shields, Kelsey De Santis, ’ ” Organizations: CNN, CNN Sport, Professional Fighters League, wasn’t, Professional, League, Thailand –, Combat Games, Saudi Games, International Federation of Muaythai, Muay Thai, Al, SRJ Sports Investments Company, Saudi Arabia’s Public Investment Fund Locations: Riyadh, Saudi Arabia, Saudi, Thai, Thailand, East, North Africa, MENA

☆ Live Updates: The April Jobs Report
▼ + stars: | 2024-05-03 | by ( Lydia Depillis | ) www.nytimes.com time to read: +2 min

PinnedIt’s been a hot spring for the American labor market, and while the summer forecast is milder, it’s not clear when the cool-down will begin. The last three months have seen an upswing in job creation, bending what had been a bumpy but definite downtrend since the post-pandemic resurgence. Does that mean the labor market is taking off again without ever having touched down? Workers are quitting their jobs at even lower rates than they were in 2019. “You don’t have that cost of onboarding and starting over again if you can hold on to them.”

Persons: It’s, ”, Stephen Brown, Belinda Román, “ Organizations: Labor Department, North, Capital Economics, Institute for Supply Management, National Federation of Independent, Workers, St, Mary’s University Locations: North America, San Antonio

☆ Kenya floods: Maasai Mara visitors stranded as death toll nears 200
▼ + stars: | 2024-05-02 | by ( Larry Madowo | Rob Picheta | ) edition.cnn.com time to read: +4 min

CNN —Staff and visitors have been left stranded and buildings submerged at Kenya’s famous Maasai Mara nature reserve, as the death toll in catastrophic flooding in the country’s southwest rose to at least 188 people. Local authorities ordered some tourist facilities in the National Reserve to close after River Talek, one of the tributaries of the Mara River, burst its banks and swept through more than a dozen riverside tourist lodges and camps. In Maasai Mara, camp owners were told to leave the affected properties and “move to higher ground further away from River Talek,” governor of Narok county Patrick Ole Ntutu said on Wednesday. Parts of Maasai Mara National Reserve were left submerged by the flooding. Authorities said they had deployed two helicopters to rescue stranded tourists and local staff around the national reserve after receiving distress calls.

Persons: Mai Mahiu, Isaac Mwaura, Susan Kihika, Mara, Patrick Ole Ntutu, Bobby Neptune, Luis Tato, Kipkech Lotiatia, Bush, James Apolloh Omenya, couldn’t, “, X, El Niño, Jagan Chapagain, ”, Nyagoah Tut Organizations: CNN — Staff, National Reserve, CNN, Mara National Reserve, Authorities, Cross, Paramilitary, ”, Youth Service, ” International Federation of Red, Red Crescent Societies, Human Rights, “ Kenyan Locations: Mara, Kenya, Nairobi, Mai, Nakuru County, ”, Narok, AFP, Talek, Kenya’s, Africa, East Africa, Tanzania, Burundi, “ Kenya, Nyagoah Tut Pur

☆ A 32-year market vet warns underlying weakness in the labor market is on the verge of showing up in monthly jobs data — and shares an ominous chart showing why the S&P 500 could be set to fall more th
▼ + stars: | 2024-04-27 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Read previewLooking at the headline numbers, the US labor market is booming. OVOM Research/Bullandbearprofits.comWolfenbarger's views in contextOther market observers have started to warn of a weakening labor market in recent months. Ian Shepherdson, the chief economist at Pantheon Macroeconomics, shared several indicators in a client note earlier this month warning of a job market slowdown ahead. Pantheon MacroeconomicsBut whether the labor market actually weakens materially remains to be seen. AdvertisementIf Wolfenbarger is right and the labor market falls apart in short order, it could catch an exceptionally bullish market off guard.

Persons: —, Jon Wolfenbarger, Merrill Lynch, Wolfenbarger, Louis, Ian Shepherdson, Shepherdson, There's Organizations: Service, JPMorgan, Business, Labor Statistics, Fed, Conference, Treasury, OVOM, Pantheon, National Federation of Independent

☆ Demand for human-like robots that can do just about any job is expected to boom by 2026. These 10 stocks are set to profit off the growth, according to an investment strategist.
▼ + stars: | 2024-04-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

By 2027, that ratio is expected to increase to 43% of tasks completed by machines and 57% by humans. "On the one hand, yes, it's scary to envision a world in which almost no job is safe from automation or from robotics. The annual installation of industrial robots is expected to grow by about 30%, from 553,000 installations in 2022 to 718,000 in 2026. Themes ETF launched its version of a robotics-focused ETF called Themes Robotics and Automation ETF (BOTT) on Monday. Lincoln Electric Holdings (LECO)Toyota Industries (6201 JP)Esab Corp (ESAB)Nordson Corp (NDSN)Fortive Corp (FTV)Intel Corp (INTC)Konecranes Oyj (KCR FH)Microchip Technology (MCHP)Silicon Motion Technology (SIMO)Semtech Corp (SMTC )

Persons: Taylor Krystkowiak, Krystkowiak, Konecranes, SIMO, Semtech Organizations: Boston Dynamics, Business, International Federation of Robotics, Automation, Lincoln Electric Holdings, Toyota Industries, Esab, Nordson, Fortive, Intel Corp, Technology, Motion Technology Locations: Medicine, guesswork

☆ Surging inflation fears sent markets tumbling and Fed officials scrambling
▼ + stars: | 2024-04-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +8 min

Energy prices, which have been a major factor in the past two months' inflation readings, pushed higher on signs of further geopolitical turmoil. Minutes released Wednesday from the March Fed meeting showed officials were concerned about higher inflation and looking for more convincing evidence it is on a steady path lower. Sticky price CPI entails items such as housing, motor vehicle insurance and medical care services, while flexible price is concentrated in food, energy and vehicle prices. "If that's the case, you would require a decent amount of unemployment to get inflation all the way to 2.0%." That's why Furman and others have pushed for the Fed to rethink it's determined commitment to 2% inflation.

Persons: Spencer Platt, —, Stocks, Jason Furman, We've, Israel, Jim Paulsen, Wells, Substack, Paulsen, Furman, Barack Obama, Jamie Dimon, John Williams, Susan Collins, it's, Larry Fink Organizations: Getty, Investors, Dow Jones, CNBC, of Economic Advisers, New York Fed, National Federation of Independent Business, Labor Department, JPMorgan, University of Michigan's, Boston, Commerce, CPI, Citigroup, Fed, Atlanta Fed, Dallas Fed, Harvard, BlackRock Locations: Manhattan, New York City, Iran, Israel

☆ The job market looks rock-solid, but there are 4 signs it's weakening as labor trends mirror past recessions
▼ + stars: | 2024-04-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Read previewToday's job market looks to be on solid footing, but there are subtle signs that hiring is starting to weaken, upping the odds that a recession strikes. The job market is already flashing key signs of weakness, and a hiring slowdown could be around the corner, Wall Street strategists have warned. Here are four signs the stellar US job market may be about to stumble:Advertisement1. But job-cut announcements rose to 257,254 over the first quarter, according to the career transitioning firm Challenger, Gray & Christmas. The risk of a coming recession could rise if the job market continues to slow, some forecasters have warned.

Persons: —, David Rosenberg, Rosenberg, Gary Shilling, it's Organizations: Service, Street, Business, Bureau of Labor Statistics, Challenger, National Federation of Independent Business, CNBC

☆ With inflation stalling, the long-predicted storm clouds in the economy may actually be forming
▼ + stars: | 2024-04-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —Jamie Dimon warned two years ago that storm clouds and a hurricane were brewing in the US economy. On top of that, the unemployment rate has stayed below 4% for more than two years despite 11 rate hikes intended to slow the economy in an effort to curb decades-high inflation. But potentially persistent inflation isn’t the only red flag in the economy right now. Small-business owners haven’t felt this bad about the economy in over a decadeAlthough the economy is booming by many measures, including last month’s blowout jobs report, small business owners aren’t feeling gung-ho about it. That’s significant because that cohort is experiencing an even lower unemployment rate than the nation overall.

Persons: Jamie Dimon, Dimon, Michelle Bowman, she’s, Bowman, ” Bowman, haven’t, Holly Wade, Bill Dunkelberg, aren’t Organizations: New, New York CNN, JPMorgan Chase, Federal Reserve, FactSet, National Federation of Independent, York Locations: New York

☆ Small business sentiment is the lowest in over a decade as inflation proves sticky
▼ + stars: | 2024-04-09 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +1 min

Confidence among US small business owners is at an 11-year low, according to NFIB. High inflation, coupled with hiring woes and tight financial conditions, have dealt a blow to business. AdvertisementUS small business owners' confidence slumped to its lowest level in 11 years in March amid escalating inflationary pressures and sluggish sales expectations, according to the National Federation of Independent Business. The small business optimism index dropped to 88.5, hitting its lowest since December 2012, per NFIB's latest report. This story is available exclusively to Business Insider subscribers.

Persons: Mohamed El, Erian, —, It's Organizations: Service, National Federation of Independent Business, Business

☆ Small business optimism hits 11-year low as inflation fears won't go away
▼ + stars: | 2024-04-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Small business confidence hit its lowest level in more than 11 years for March as proprietors worried that inflation is still very much a problem. A quarter of all respondents reported that rising costs were the biggest problem. "Small business optimism has reached the lowest level since 2012 as owners continue to manage numerous economic headwinds," NFIB Chief Economist Bill Dunkelberg said. "Inflation has once again been reported as the top business problem on Main Street and the labor market has only eased slightly." A quarter of all respondents cited inflation, and in particular higher input and labor costs, as their most pressing issue.

Persons: Bill Dunkelberg Organizations: Costco Wholesale, National Federation of Independent Business, The Labor Department Locations: Colchester , Vermont

☆ Stock futures are little changed as investors await March inflation data: Live updates
▼ + stars: | 2024-04-08 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Stock futures were little changed on Monday, with rising Treasury yields limiting meaningful gains for equities and investors gearing up for forthcoming inflation data. Nasdaq 100 futures advanced 0.1%, while Dow Jones Industrial Average futures gained 16 points, or 0.04%. Stocks ended Monday's trading largely little changed, with the S&P 500 closing with a marginal decline of 0.04%. The 10-year Treasury yield topped 4.4%, as investors awaited Wednesday's consumer price index report for more insight into how the Federal Reserve's policy has been affecting inflation. However, she cautioned that a continued rise in the 10-year yield could signal cause for concern for the broader market.

Persons: Stocks, Dow Jones, Anastasia Amoroso, CNBC's, Amoroso Organizations: New York Stock Exchange, Stock, Nasdaq, Dow Jones Industrial, Treasury, Federal, National Federation of Independent, CPI

☆ A 32-year market vet warns the S&P 500 is set to fall 50%-70% in the years ahead with valuations at historic highs — and says that an imminently weakening labor market will be the catalyst for the cra
▼ + stars: | 2024-03-30 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

According to Bank of America, valuation levels explain 80% of the market's return over a 10-year period. Bank of AmericaThere are many ways to measure valuation levels in the overall market. Hussman says it's the most accurate indicator of future market returns that he's found. AdvertisementThe Conference BoardThird, the number of US states with a rising unemployment rate is spiking, meaning that the overall unemployment rate should see further upside. BullAndBearProfits.comThe US unemployment rate is already on a slight uptrend, having climbed from 3.4% in April 2023 to 3.9% as of February.

Persons: —, Jon Wolfenbarger, Merrill Lynch, John Hussman's, he's, Warren Buffett, Wolfenbarger, Stocks, Woflenbarger, Cam Harvey, Claudia Sahm, Louis Fed, Jeremy Grantham, John Hussman, David Rosenberg, Goldman Sachs, David Kostin, America's Savita Subramanian, Ian Shepherdson, Shepherdson Organizations: Service, Bank of America, Business, JPMorgan, National Federation of Independent Business, Board, Treasury, Bank, America's

☆ Janja Garnbret: Olympic champion warns that climbing has a ‘cultural’ problem with eating disorders
▼ + stars: | 2024-03-26 | by ( Ben Church | ) edition.cnn.com time to read: +7 min

CNN —As an Olympic gold medalist and an eight-time world champion, almost no one knows the world of competitive climbing like Janja Garnbret. Having risen to the summit of the sport, the Slovenian now wants to use her platform to raise awareness of “cultural” pitfalls in climbing that she says are contributing to a widespread issue with eating disorders. “I’m a strong believer that you can do climbing, or any sport, in a healthy way.”Garnbret competes during the women's lead climbing finals of the IFSC Climbing World Cup at Kletterzentrum Innsbruck on June 18, 2023 in Innsbruck, Austria. I was trying hard for, let’s say, two years to help them get out of it, but I couldn’t help. Mohd Rasfan/AFP/Getty ImagesWith one Olympic medal in her pocket – Garnbret secured the combined gold at Tokyo 2020 – the Slovenian is hungry for more.

Persons: Garnbret, “, ” Garnbret, Marco Kost, ”, Sasha DiGiulian, Marco Scolaris, wasn’t, Mohd Rasfan Organizations: CNN, CNN Sport, Kletterzentrum, Kyodo, REDs, International Federation of, Paris, Olympic, Getty, Games Locations: Slovenian, Kletterzentrum Innsbruck, Innsbruck, Austria, Tokyo, AFP, Paris

☆ Nearly everyone has given up on their recession call, and that makes the outlook 'dangerously reminiscent' of 2007, SocGen says
▼ + stars: | 2024-03-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Recession views are dangerously similar to those in 2007, SocGen's Albert Edwards said. Soft landing or no landing outlooks are growing on Wall Street as the US appears on solid economic footing. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Those signs appear lost on many other market commentators, who have dialed back their recession views in the last few months. "All this is (dangerously) reminiscent of 2007, when all around were telling me I was wrong and should give up calling that much-delayed recession," he later added.

Persons: SocGen's Albert Edwards, Edwards, —, Société, Albert Edwards, That's, Doom, Nouriel Roubini Organizations: Service, Chicago, York Fed's Survey, Consumer, National Federation of Independent Business, National Association of Business, Fed, Investor Locations: York

☆ The US economy is so strong that there might not be any rate cuts in 2024
▼ + stars: | 2024-03-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

Now, some economists think the Fed won’t cut interest rates at all this year. “The Fed will not cut rates this year and rates are going to stay higher for longer,” he added. Richmond Federal Reserve President Tom Barkin echoed the idea that the central bank may not cut interest rates this year. In some ways, the expectations of interest rate cuts by the Fed undermined their efforts to actually cut the rates. Still, about half of investors are expecting an interest rate cut at the Fed’s June meeting, according to the CME FedWatch tool.

Persons: —, that’s, Jerome Powell, Torsten Slok, “, Tom Barkin, ” Barkin, “ I’m, ” Robert Frick, ”, Powell Organizations: New, New York CNN, Federal, Apollo Global Management, Richmond Federal, CNBC, Navy Federal Credit Union, CNN, Fed, National Federation of Independent, Investors, Financial Services, Senate Locations: New York, Richmond

☆ Inflation is cooling, but small businesses in the U.S. say customers just aren’t spending like they used to
▼ + stars: | 2024-02-26 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

While cooling inflation and a robust GDP reading that smashed economists’ expectations are reasons to be optimistic about the US economy, one key economic engine seems to still be sputtering: small businesses. Small business owners say they’re still grappling with the hangover effects of inflation and a labor shortage, according to the National Federation of Independent Business’s most recent monthly survey, which was conducted in January. Dougherty said small businesses may be delayed in feeling the effect of easing inflation, but once businesses experience more prolonged stable prices, that may help their sentiment turn around. A recent survey of American Express small business customers indicated that some small business owners see strength in 2024. Half of the 557 US small businesses surveyed said they plan to grow or expand their businesses in the upcoming year.

Persons: Kevin Meehan, , he’s, ” Meehan, “, hasn’t, Kevin Meehan RJacobsonPhoto, we’d, that’s, Everything’s, ”, Charles Dougherty, Sarah Cash, Cash, Sarah Cash Elise Kutt, “ I’ve, ” Cash, it’s, they’re, doesn’t, Sunny, Dougherty, Meehan, I’m Organizations: CNN, Kali, National Federation of Independent, “, US Chamber of Commerce, American Express, Valentine’s Locations: Los Angeles, Wells Fargo, United States, Grand Rapids , Michigan

LONDON (AP) — The Associated Press won the best documentary prize at the British Academy Film Awards for Ukraine war documentary “20 Days in Mariupol,” produced with PBS’ “Frontline.”Filmmaker Mstyslav Chernov admitted the accolade made him feel conflicted. It’s a huge responsibility,” the Ukrainian journalist said after winning the trophy Sunday at London’s Royal Festival Hall. Chernov arrived in Mariupol one hour before Russia began its bombardment, along with photographer Evgeniy Maloletka and field producer Vasilisa Stepanenko. It is nominated in the best documentary category at the March 10 Academy Awards, the first-ever Oscar nomination for the 178-year-old AP. “Cities get occupied and destroyed and our work represents what is happening to Ukraine now,” Chernov said.

Persons: ”, Mstyslav Chernov, “, It’s, ” Chernov, Chernov, Evgeniy Maloletka, Vasilisa Stepanenko, — unflinchingly, Stepanenko, Lori Hinnant, let’s, Derl McCrudden Organizations: Associated Press, British Academy, Ukraine, PBS, London’s Royal, Hall, AP, Russia, Hamas, International Federation of Journalists Locations: Mariupol, Ukrainian, Ukraine, Russia, Avdiivka, Israel

The housing market began 2024 in the doldrums as housing starts and permits for new construction both fell, the Census Bureau reported on Friday. Starts fell 14.8%, way more than the flat reading expected by economists. “High mortgage rates, with maybe a dash of cold weather, caused starts and permits to fall from December. The optimism is a turnaround from August 2023, when 80% of small businesses surveyed said their long-term financial confidence was being negatively affected by the economy. Some 50% of small business owners said they were planning to expand in 2024.

Persons: didn’t, ”, Robert Frick, Lisa Sturtevant, Ksenia Potapov, “, they’re, Bill Dunkelberg Organizations: Census, Navy Federal Credit Union, MLS, “, National Federation of Independent Business, American Express Locations: American

☆ Small business sentiment dropped by most in 13 months in January as inflation, labor costs bite
▼ + stars: | 2024-02-13 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Small business owners' confidence level dropped in January, the National Federation of Independent Business said. AdvertisementSmall business sentiment logged the biggest drop in 13 months in January as business owners say inflation and high labor costs are creating headwinds. On top of that, small business owners anticipating increased sales in the next three months declined to -16% from -4% the prior month. "In January, optimism among small business owners dropped as inflation remains a key obstacle on Main Street." "The weaker small business optimism print seems at odds with a notable increase in consumer confidence during January," Wells Fargo said in a note.

Persons: —, NFIB, they're, Bill Dunkelberg, Wells Fargo Organizations: National Federation of Independent Business, Service, Federal Reserve, Fed

☆ Small business optimism dips in January
▼ + stars: | 2024-02-13 | by ( Kate Rogers | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSmall business optimism dips in JanuaryCNBC’s Kate Rogers on small business sentiment falling in January as owners continue to struggle with inflation and labor quality, per the National Federation of Independent Business.

Persons: Kate Rogers Organizations: National Federation of Independent Business

☆ Here are 3 ways the labor market is showing concerning deterioration underneath strong headline numbers — meaning a recession and stock-market sell-off could sneak up on investors
▼ + stars: | 2024-02-03 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Read previewThe labor market smashed expectations in January, adding 353,000 new jobs, far above economist forecasts of 187,000. Despite the strong headline number, however, there are signs that the job market is deteriorating beneath the surface. For one, the Bureau of Labor Statistics' household survey is showing some divergence from its payroll survey. "High labor and credit costs are beginning to materially impact corporate profits, which impacts both the labor market and (eventually) the default rate." Still, while there are signs of weakening, there are also signs of improvement in the labor market.

Persons: —, Jeff Schulze, today's, Shulze, Louis Fed, Lance Roberts, Ian Shepherdson, Lauren Goodwin Organizations: Service, Federal Reserve, Business, of Labor Statistics, BLS, of Labor, ClearBridge Investments, RIA Advisors, National Federation of Independent Business, Pantheon, Bank of America's Global, New York Life Investments, ClearBridge

At the center of that growth are newer genres of Afrobeats — the renowned blend of distinct West African music styles — and amapiano, which fuses South African kwaito with African jazz, house music and soulful vocals. The 2022 track became the first led by an African artist to hit 1 billion Spotify streams and has the record for the most weeks — 64 — spent on Billboard’s Pop Airplay chart. And some tracks meld the genres under the African music umbrella. That reach is particularly interesting considering that African music is produced for its people, embodying all aspects of their lives from their culture and experiences to their struggles, LeriQ says. The continent leads mobile device web traffic in the world, according to the U.S. International Trade Administration, translating to more market opportunities for artists.

Persons: ”, Burna Boy’s, Rema’s, Selena Gomez, —, Joey Akan, ‘, Burna, ’, Musa Keys, Boy, Istanbul's, Rema, Davido, Tina Davis, Olamide's, Angélique Kidjo, LeriQ, Nay, Mitego, Chika Anene, gatekeepers, Eric Wainaina, G’bemi Ereku, Nigeria —, Jhello, ” ___ Mureithi, Maria Sherman Organizations: FIFA, International Federation of, Phonographic Industry's, Spotify, Afrobeats Intelligence, UEFA Champions League, Pew Research, U.S . International Trade Administration, United, Afro Nation, AP Locations: ABUJA, Nigeria, Nigerian, Saharan Africa, African, South Africa, Africa, Tanzania, Abuja, Kenyan, Lagos, United States, Statista, Nairobi, Kenya, Johannesburg, Los Angeles

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