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☆ What to expect in Friday’s jobs report
▼ + stars: | 2024-03-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

New York CNN —Don’t be surprised if Friday’s jobs report shows that February’s employment gains were far below those reported for January. In fact, it would continue a history-making stretch of labor market expansion. Friday’s jobs report could very well provide a more reliable read on what’s actually happening in the labor market than the jobs reports of recent months’ past, Julia Pollak, chief economist at ZipRecruiter, told CNN. “And so, February might give us a better understanding of the underlying rate of job growth,” she said. What the other labor market data is showingOther economic data released this week reinforces the idea that the US labor market is cooling but remains on solid footing.

Persons: New York CNN — Don’t, Julia Pollak, autoworkers, what’s, hasn’t, Nixon, ” Ron Hetrick, Gus Faucher, stayers ”, Faucher, ”, ” Nela Richardson, outplacement, ” Andrew Challenger, Lydia Boussour, EY, “ Organizations: New, New York CNN, CNN, of Labor Statistics, PNC Financial Services, BLS, Labor, Boomers, ADP, Challenger, ”, Labor Department Locations: New York, US

Federal Reserve Chairman Jerome Powell stuck to his script that it is not yet time to begin cutting interest rates on Wednesday in the first of two appearances this week on Capitol Hill. The Fed has taken interest levels to their highest in decades in a battle to bring inflation down to the central bank’s 2% annual target. “The labor market remains relatively tight, but supply and demand conditions have continued to come into better balance,” Powell said. Job vacancies have declined, and nominal wage growth has been easing.”Powell and other Fed officials have repeatedly said they will judge whether to begin lowering interest rates on the state of incoming economic data. In his testimony, Powell did acknowledge that interest rates are “likely” at their peak for this economic cycle.

Persons: Jerome Powell, ” Powell, Powell, ”, Lydia Boussour, EY Organizations: Capitol, Financial Services, Labor Department, ADP, Federal Reserve Bank, Atlanta’s

☆ Amazon, CVS, and Walgreens went all in on primary care. Their bets are bleeding money.
▼ + stars: | 2024-03-06 | by ( ) www.businessinsider.com time to read: +8 min

In the past several years, Amazon, CVS Health, and Walgreens each spent billions to own primary-care companies. CVS bought Oak Street Health. Here's how the bets that Amazon, CVS, and Walgreens made are playing out. CVS is building more Oak Street clinics despite lossesAn Oak Street Health location in Elgin, Illinois during its grand opening. CVS is hoping to help Oak Street clinics get profitable quicker by driving more patients their way.

Persons: Andy Jassy, Thos Robinson, It's, JP Morgan, Berkshire Hathaway, Business Insider's Eugene Kim, Kim, they've, it's, VillageMD hasn't, Jefferies, Brian Tanquilut, Tanquilut, Lydia Ramsey, Mike Pykosz, Pykosz, Aetna, Michael Cherny Organizations: CVS Health, Walgreens, Amazon, CVS, Oak Street Health, Business, Aetna, Medical, Washington Post, Summit Health, Oak, Health Locations: Oak, VillageMD, Haven, Florida, Elgin , Illinois

Among registered voters nationwide, 26 percent believe the economy is good or excellent, according to polling in late February by The New York Times and Siena College. The movement occurred disproportionately among older Democrats, a constituency already likely to vote for Mr. Biden. And the share of voters saying they approve of the job Mr. Biden is doing in office has actually fallen, to 36 percent in the latest poll, from 39 percent in July. Inflation has pervaded economic sentiment since mid-2022, confronting voters daily with the price of everything from eggs to car insurance. Nearly two-thirds of registered voters in the Times/Siena poll rated the price of food and consumer goods as poor.

Persons: Biden doesn’t, Mr, Biden Organizations: The New York Times, Siena College, Times Locations: Siena

Listen to and follow ‘Matter of Opinion’Apple Podcasts | Spotify | Amazon MusicWhen the Supreme Court overturned Roe v. Wade in 2022, the Republican Party declared victory. But the Alabama Supreme Court’s decision last month that frozen embryos are considered “extrauterine children,” which prompted hospitals to suspend I.V.F. Given Americans’ overwhelming support for in vitro fertilization, conservative politicians have tried to distance themselves from the ruling. Plus, listeners weigh in on how much the economy is going to affect their vote. (A full transcript of this audio essay will be available within 24 hours of publication in the audio player above.)

Persons: Roe, Wade Organizations: Spotify, Republican Party Locations: Alabama

☆ Economic Dividend of Immigration Faces Legal and Logistical Hurdles
▼ + stars: | 2024-02-29 | by ( Lydia Depillis | ) www.nytimes.com time to read: +1 min

The U.S. economic recovery from the pandemic has been stronger and more durable than many experts had expected, and a rebound in immigration is a big reason. A resumption in visa processing in 2021 and 2022 jump-started employment, allowing foreign-born workers to fill some holes in the labor force that persisted across industries and locations after the pandemic shutdowns. Immigrants also address a longer-term need: replenishing the work force, a key to meeting labor demands as birthrates decline and older people retire. International instability, economic crises, war and natural disasters have brought a new surge of arrivals who could help close the still-elevated gap between labor demand and job candidates. But that potential economic dividend must contend with the incendiary politics, logistical hurdles and administrative backlogs that the surge has created.

Organizations: Office

☆ Opinion | Restoring the Past Won’t Liberate Palestine
▼ + stars: | 2024-02-18 | by ( Lydia Polgreen | ) www.nytimes.com time to read: +2 min

Amid the graphic images, fierce polemics and endless media criticism that have dominated my social media feeds since the war in Gaza began late last year, I noticed a seemingly bizarre subplot emerge: skin cancer in Israel. “You are not Indigenous if your body cannot tolerate the area’s climate,” one such post read, highlighting outdated news coverage claiming that Israelis had unusually high rates of skin cancer. In the context of the ongoing slaughter in Gaza — more than 28,000 people dead, mostly women and children — such posturing may seem trivial. But even, or maybe especially, at this moment, when things are so grim, the way we talk about liberation matters. In this analysis, there are two kinds of people: those who are native to a land and those who settle it, displacing the original inhabitants.

Persons: “, slinging, Frantz Fanon, Ghana’s Kwame Nkrumah, Jawaharlal Nehru, Fanon — Organizations: Palestine Locations: Gaza, Israel, Jordan, Palestine

☆ Nature Has Value. Could We Literally Invest in It?
▼ + stars: | 2024-02-18 | by ( Lydia Depillis | ) www.nytimes.com time to read: +1 min

Picture this: You own a few hundred acres near a growing town that your family has been farming for generations. Turning a profit has gotten harder, and none of your children want to take it over. You don’t want to sell the land; you love the open space, the flora and fauna it hosts. But offers from developers who would turn it into subdivisions or strip malls seem increasingly tempting. But the idea has gained traction among environmentalists, money managers and philanthropists who believe that nature won’t be adequately protected unless it is assigned a value in the market — whether or not that asset generates dividends through a monetizable use.

☆ Usher Gets Married After the Super Bowl
▼ + stars: | 2024-02-13 | by ( Sadiba Hasan | ) www.nytimes.com time to read: +1 min

After delivering a dynamic halftime performance at the Super Bowl, the R&B star married his partner, Jennifer Jean Goicoechea, in Las Vegas on Sunday. “We can confirm that Usher and Jennifer Goicoechea took the next step in their relationship and did get married on Sunday night in Las Vegas surrounded by close friends and family,” said Lydia Kanuga, a representative for Usher. “They both look forward to continuing to raise their children together surrounded by love and thank everyone for the well wishes.”According to a court document, Ms. Goicoechea and Usher Raymond IV married at Vegas Weddings, a chapel in downtown Las Vegas. “We were beyond thrilled to host in this epic day for Usher and his new wife,” Melody Willis-Williams, president of Vegas Weddings, said in a statement. The couple obtained their marriage license from the Clark County Marriage License Bureau on Thursday.

Persons: It’s, Usher, Jennifer Jean Goicoechea, “, Jennifer Goicoechea, ”, Lydia Kanuga, Goicoechea, Usher Raymond IV, Ronald Joseph Pokrywka, who’s, Ron DeCar, Elvis, DeCar, Jonnetta Patton, Usher’s, Melody Willis, Williams Organizations: Super, Vegas Locations: Las Vegas, Clark

☆ The Kansas City Chiefs beat the San Francisco 49ers 25 to 22 in Super Bowl LVIII
▼ + stars: | 2024-02-12 | by ( Lydia Warren | Lloyd Lee | ) www.businessinsider.com time to read: +1 min

The Kansas City Chiefs faced off against the San Francisco 49ers at Super Bowl LVIII on Sunday. It was a rematch of their dramatic 2020 Super Bowl game in which the Chiefs won. AdvertisementMeet the Super Bowl LVIII champions: The Kansas City Chiefs. The Chiefs will raise the Vince Lombardi Trophy after a thrilling game against the 49ers, which they won 25-22 during overtime. Sunday night's game was a fierce rematch of the teams' 2020 Super Bowl battle when the Chiefs won 31-20.

Persons: —, Vince Lombardi Organizations: Kansas City Chiefs, San Francisco 49ers, Super, Allegiant, Chiefs, Service, Bowl, 49ers, Sunday, Bowls —, Philadelphia Eagles Locations: Las Vegas

Listen to and follow ‘Matter of Opinion’Apple Podcasts | Spotify | Amazon MusicWhat do Lady Diana’s wedding, the “Survivor” first-season finale and Prince’s 2007 Super Bowl halftime show have in common? They were huge cultural moments that brought millions of Americans together. In an era of streaming, social media bubbles and sharp political divides, are unifying events like these becoming relics? On today’s episode, the hosts make a case for the secular ritual of the Super Bowl and ask whether we need more mass cultural events to bring Americans together. (A full transcript of this episode will be available within 24 hours of publication, and can be found in the audio player above.)

Persons: Diana’s Organizations: Spotify, Survivor ”, Super

Rap legend Jam Master Jay lay, mortally wounded, on his studio floor. But he said that in the ensuing days, wounded eyewitness and aide Uriel “Tony” Rincon told him that Jordan fired the gun and Washington was there. But neither they nor Allen told investigators initially, or indeed for years, that the eyewitnesses could identify either man. “The only person you saw with a gun in hand was you, right?” asked one of Jordan's lawyers, Mark DeMarco. The witness said he grabbed it “for protection" before running out to look for anyone who might be running away.

Persons: Jay, Randy Allen, Allen, “, Jason Mizell, Karl Jordan Jr, Ronald Washington, Uriel “ Tony ” Rincon, Jordan, Lydia High, Washington, hadn't, ”, Mark DeMarco, Mizell, Christopher Burrell Organizations: Prosecutors Locations: New York, Queens, Washington, Rincon, Baltimore, Jordan

☆ Gen X and boomers love Temu. I asked them why.
▼ + stars: | 2024-02-04 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

Recent research showed that boomers and Gen Xers shopped more frequently on Temu than younger people. I was surprised when I read a research study recently that said that Gen X and boomer Temu shoppers tended to spend slightly more per order and placed orders more often than younger shoppers. AdvertisementSo I asked readers who were boomers or Gen Xers to write in and tell me: Why do they love Temu so much? The Gen X and boomers denied this — most of them said they ignored the annoying roulette wheels. —LanieA variety of items bought by a Gen Xer on Temu Kristy MeeksA crafter who gets jewelry-making supplies:I shop on Temu mostly for jewelry, crafting and jewelry supplies.

Persons: Gen Xers, —, fanny, Elsa, X, Temu, Xers, Tyrone A, I'm, They're, it's, — Linda, Kristy Meeks, Lydia, I've, Randy, Bill Craft supples, Bill Eldridge The Organizations: Service, Amazon Locations: Temu, Toronto, China

☆ January Jobs Report U.S. Job Growth Expected to Be Solid
▼ + stars: | 2024-02-02 | by ( Lydia Depillis | ) www.nytimes.com time to read: +2 min

PinnedThe labor market is looking more like 2019 every month, and that’s not a bad place to be. The share of people quitting their jobs, which surged during the pandemic, is back to 2019 levels. A broad measure of wages, salaries and benefits known as the Employment Cost Index has been falling since early 2022. Employment growth has been narrowing, with sectors like education, health care and government, which vary less with economic cycles, powering most of the gains. Most of those displaced workers have shifted to positions where their skills are still needed, keeping joblessness in check — so far.

Persons: that’s, “, ”, Satyam Panday Organizations: Labor Department, Bureau of Labor Statistics

lydia polgreenSure, but a few things — one thing that was elided in a lot of the discourse about men falling behind really, really, really under emphasized or just ignored the racial component of it. I just don’t — I don’t —ross douthatYeah, there were like five. That’s a really, really, really big shift. Are women going to pay a disproportionate price for childbearing in terms of their economic potential? But I think — Ross wrote a column about just how freaking weird the bizarre conspiracy theories about Taylor and Travis are.

Persons: ross douthat, polgreen, polgreen Oh, — ross douthat, Carlos Lozada, lydia polgreen I’m, Carlos Lazada, ross, michelle cottle, Lozada, lydia polgreen, Jimmy Carter, — ross, Jimmy Carter lusted, michelle cottle Oh, Jimmy, I’m Michelle Cottle, ross douthat I’m Ross Douthat, Lydia Polgreen, lydia polgreen Hoo, Carlos, Gen, topsy turvy, Ronald Reagan, Ross, Bill Clinton, Michelle, — michelle cottle, there’s, John Burn, Murdoch, Lydia, it’s, —, Taylor Swift, I’m, It’s, Roe, Let’s, Let’s —, That’s, I’ve, Andrew Tates, who’s, you’re, We’re, Don’t, we’ve, ” I’m, Trump, — Trump, michelle cottle It’s, Brett Kavanaugh, they’re, let’s, don’t, he’s, ross douthat It’s, michelle cottle Let’s, michelle cottle That’s, couldn’t, Jesus, that’s, michelle cottle We’ve, Taylor, — michelle cottle Travis Kelce, lydia polgreen Travis, — Ross, Travis, Marjorie Taylor Greene, Rush Limbaugh’s feminazis, lydia polgreen Feminazis, michelle cottle There’s, michelle cottle You’re, michelle cottle I’ll, lydia polgreen —, we’re, — michelle cottle Partypalooza, sleepovers, — michelle cottle Ah, lydia polgreen Congrats Organizations: New York, Goldwater Republicans, Bill Clinton Democrats, Democrat, Republicans, Confederation, YouTube, Trump, Public Religion Research Institute, South Korea —, Pinterest Locations: American, US, Germany, United Kingdom, South Korea, Poland, Mars, United States, America, France, Korea, Northeast Asia, Africa, Mozambique, Saharan Africa, Europe, New York City, Manhattan

☆ Job Market Starts 2024 With a Bang
▼ + stars: | 2024-02-02 | by ( Lydia Depillis | ) www.nytimes.com time to read: 1 min

The United States produced an unexpectedly sizable batch of jobs last month, a boon for American workers that shows the labor market retains remarkable strength after three years of expansion. Employers added 353,000 jobs in January on a seasonally adjusted basis, the Labor Department reported on Friday, and the unemployment rate remained at 3.7 percent. The report also put an even shinier gloss on job growth for 2023, including revisions that added more than 100,000 to the figure previously tallied for December. All told, employers added 3.1 million jobs last year, more than the 2.7 million initially reported. After the loss of 14 percent of the nation’s jobs early in the Covid-19 pandemic, the labor market’s endurance despite aggressive interest rate increases has caught economists off guard.

Organizations: Employers, Labor Department Locations: States

☆ Premarket stocks: The Fed isn’t vexing markets. Here’s what might
▼ + stars: | 2024-01-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

But with practically all of Wall Street in agreement that no changes will be made, investors are focused on Fed Chair Jerome Powell’s afternoon press conference where he’ll answer questions about his outlook for monetary policy. Conflict in the Middle East and the Red Sea in particular “poses a risk to global trade,” said EY Senior Economist Lydia Boussour on Tuesday. That’s a huge blow to trade: As much as 15% of global trade and 25%-30% of global container shipments transit through the waterway. “For now, we don’t expect the situation in the Red Sea to substantially alter the outlook for global inflation and global monetary policy this year,” said Boussour. The company reported earnings per share of $2.93, beating Wall Street expectations of $2.79.

Persons: Jerome Powell’s, Powell isn’t, we’ve, ” Johns, Laurence Ball, Kevin Gordon, Charles Schwab, Gordon, ”, There’s, Jay Powell, CNN’s Arlette Saenz, Joe Biden, “, Brent, EY, Lydia Boussour, “ We’ve, Satya Nadella Organizations: CNN Business, Bell, New York CNN, Federal Reserve, ” Johns Hopkins, “, Commerce Department, West Texas Intermediate, International Monetary, Microsoft, Revenue Locations: New York, East, Europe, China, Jordan, Gaza, Suez, Iran

The firm’s monthly survey showed 107,000 jobs were added, well below the 145,000 estimate. “Progress on inflation has brightened the economic picture despite a slowdown in hiring and pay,” said Nela Richardson, chief economist at ADP. The ADP report comes two days ahead of the Labor Department’s monthly jobs report for January, with consensus estimates for about a 180,000 gain in payrolls after December’s better-than-expected 216,000 increase. “The January jobs report will likely show that the labor market started the year on a solid note,” said Lydia Boussour, EY senior economist. The strong job market and U.S. economic growth in the fourth quarter led the International Monetary Fund to boost its projections of global economic growth this year.

Persons: ”, Nela Richardson, December’s, Lydia Boussour, EY, “, Jerome Powell, José Torres Organizations: ADP, Labor, Federal Reserve, Observers, Interactive, International Monetary Fund, IMF Locations: U.S, payrolls, hawkish, –

Global inflation is expected to fall to 5.8% in 2024 and to 4.4% in 2025. “The global economy begins the final descent toward a soft landing, with inflation declining steadily and growth holding up. That is not to say the global economy is without challenges. It also raises concerns about a revival of global inflation pressures as importers face surging shipping costs,” said Lydia Boussour, senior economist at EY-Parthenon. “For now, we don’t expect the situation in the Red Sea to substantially alter the outlook for global inflation and global monetary policy this year,” she added.

Persons: ” Pierre, Olivier Gourinchas, ”, Lydia Boussour, Gourinchas, ” Gourinchas, Eric LeCompte, LeCompte Organizations: Monetary Fund, IMF, Federal Reserve, . News, USA Locations: U.S, China, –, Ukraine, Iranian, Suez, EY, India, Russia, East, Central Asia, Saudi Arabia, “, Brazil

☆ Nelly Korda rallies to sudden-death hometown victory at LPGA Drive On Championship
▼ + stars: | 2024-01-29 | by ( Jack Bantock | ) edition.cnn.com time to read: +2 min

CNN —Nelly Korda pulled off a stunning late rally to clinch a dramatic hometown victory at the LPGA Drive On Championship in Florida on Sunday, edging Lydia Ko in a playoff to prolong the New Zealander’s wait to join the LPGA Hall of Fame. “The amount of support I received this week was unbelievable,” Korda told reporters. Good ol’ Nelly fashion making it dramatic.”Ko and Korda embrace after a dramatic battle. Steve Nesius/APVictory marks Korda’s ninth title on the LPGA Tour, and her first since she defended her Pelican Women’s Championship crown in November 2022. The $262,500 winner’s purse sees her cross the $9 million mark for LPGA Tour career earnings.

Persons: CNN — Nelly Korda, Lydia Ko, Korda’s, parred, Ko, Korda, ” Korda, “ I’m, Nelly, ” Ko, Steve Nesius, Jessica Korda, Jessica, ’ ” Korda, ”, old’s, “ Organizations: CNN, LPGA Hall of Fame, Bradenton, LPGA Tour, Hilton, LPGA, Hall of Fame, of Fame Locations: Florida

☆ Private Equity Is Starting to Share With Workers, Without Taking a Financial Hit
▼ + stars: | 2024-01-28 | by ( Lydia Depillis | ) www.nytimes.com time to read: +1 min

In 2018, Anna-Lisa Miller was working with agricultural cooperatives in Hawaii, helping them reinvest in their communities through shared ownership. Then she came across an investor presentation from a different universe: KKR, one of the world’s largest private equity firms. In it, a KKR executive, Pete Stavros, discussed a model he had been developing to provide employees with an equity stake in companies it purchased, so the workers would reap some benefits if it was flipped for a profit. By that time, Mr. Stavros had decided to start an organization to promote his model more broadly, hoping to reach the 12 million people who work for companies that private equity firms own. Ms. Miller saw it as a way to move much faster.

Persons: Anna, Lisa Miller, Miller, Pete Stavros, Stavros Organizations: Project Equity, KKR, KKR doesn’t Locations: Hawaii

BRADENTON, Fla, (AP) — Nelly Korda rallied to win her hometown LPGA Drive On Championship and delay Lydia Ko's LPGA Hall of Fame entry, outlasting the New Zealander on the second hole of a playoff after overcoming a three-stroke deficit with an eagle-birdie finish. Korda won with a 4-foot par putt on the par-4 18th after Ko's 5-footer caught the lip and spun out. On the second playoff hole, Korda went long to the wall and chipped to set up the winning putt. “Obviously, I three-putted the second playoff hole, but other than that I don’t feel like I lost the tournament,” Ko said. “I think even when I was down they were so, so positive and keeping me in it,” Korda said.

Persons: — Nelly Korda, Lydia Ko's, Korda, ” Korda, ” Ko, “, Ko, “ Gosh, Nelly, Megan Khang, Lucy Li, Ayaka Furue, ___ Organizations: BRADENTON, Hall of Fame, Bradenton Country Club Locations: Fla, Zealander, Orlando

☆ In 100 Victims of the Lahaina Fire, Legacies That Live On
▼ + stars: | 2024-01-28 | by ( Anna Betts | Alex Lemonides | ) www.nytimes.com time to read: 1 min

Terri Thomas was a beloved aunt who loved outdoor adventures. Po’omaika’i Estores-Losano, a musician and father, was trying to rebuild his life. They were among the 100 known victims of the wildfire that tore through Lahaina on the island of Maui in Hawaii on Aug. 8. The identification of Ms. Coloma on Friday brought to a quiet close the somber task by authorities of identifying individuals believed to have died in the blaze. “Our hearts go out to the families, friends and community affected by this devastating event,” Maui officials said in the news release announcing the identification of the 100th fatality.

Persons: Terri Thomas, Po’omaika’i, Tony Takafua, Buddy Jantoc, Lydia Coloma, Coloma Locations: Lahaina, Maui, Hawaii

BRADENTON, Fla, (AP) — Hometown favorite Kelly Korda shot a 3-under 68 with an eagle-birdie finish Saturday to take a three-shot lead into the final round of the LPGA Drive On Championship. Trying to complete a wire-to-wire victory at Bradenton Country Club, Korda rebounded with the late flurry after making consecutive bogeys on Nos. “Being in Florida I always get a lot of support, but hometown, it’s crazy. “It was really windy,” said Ko, a victory short of entering the LPGA Hall of Fame. It didn’t really die down until we were pretty much on the last hole.”___

Persons: Kelly Korda, Korda, “ I’m, I’ve, ” Korda, “, It’s, Lydia Ko, Megan Khang, Ayaka Furue, ”, Ko Organizations: BRADENTON, Bradenton Country Club, Hall of Fame Locations: Fla, Florida

Listen to and follow ‘Matter of Opinion’Apple Podcasts | Spotify | Amazon MusicIt’s an old truism that Americans don’t care about foreign policy when it’s time to cast their ballots. But with the crisis in Gaza, a prolonged conflict in Ukraine and a trade war brewing with China, could 2024 be the year that American voters finally care about what’s going on beyond the water’s edge? The “Matter of Opinion” hosts take a look at the importance (or lack thereof) of foreign affairs in American elections. Plus, Lydia Polgreen recommends a film Oscar nominations were wrong to skip. (A full transcript of the episode will be available midday on the Times website.)

Persons: Lydia Polgreen Organizations: Spotify, Times Locations: Gaza, Ukraine, China

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