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US economy added a whopping 272,000 jobs in May
  + stars: | 2024-06-07 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +7 min
At a time when Americans and the Federal Reserve are clamoring for clear-cut data about the state and trajectory of the economy, Friday’s jobs report was much more opaque than everyone had hoped. Employment fell in the household survey, while unemployment increased to just shy of 6.5 million and pushing the unemployment rate to the threshold of 4%. Service-providing industries accounted for the bulk of the month’s job gains, with health care and social assistance continuing to lead the way, with 83,500 jobs added. “Don’t get overly spooked by the rise in the unemployment rate,” Bunker wrote. “The labor market is still gliding toward a soft landing.”
Persons: ” Dean Baker, , I’ve, Diane Swonk, , Wall, Chris Rupkey, FwdBonds, CEPR’s Baker, ” Baker, ” Thomas Simons, Jeffries, Nick Bunker, Bunker, “ Don’t, ” Bunker Organizations: CNN, Federal Reserve, Center for Economic, Policy Research, of Labor Statistics, KPMG, That’s, Index, Traders, BLS, Service, North America
CNN —At a time when Americans and the Federal Reserve are clamoring for clear-cut data about the state of the economy, Friday’s jobs report was much more opaque than everyone had hoped. Unemployment roseThe unemployment rate rose to 4% from 3.9%. The rise in unemployment can be traced to the findings of the household survey (one of two surveys that feed into the monthly jobs report). Compared to the establishment survey that showed the robust 272,000 net gain in jobs, the household survey faltered. That’s in the service sector, everything from personal care services, dry cleaning, cleaning and home maintenance and vehicle maintenance, she said.
Persons: Dean Baker, ” Diane Swonk, Gus Faucher, “ Jobs, , ” Julia Pollak, ZipRecruiter, ” Pollak, ” Swonk, That’s, ” Andrew Challenger, hirings, Wells, Sarah House, Mike Pugliese, it’s Organizations: CNN, Federal Reserve, KPMG, PNC, “ Employers, Challenger
CNN —The US job market showed a softer side in April when just 175,000 jobs were added, marking one of the weakest months in the past three years. It was also well shy of economists’ expectations (for 235,000 jobs added) and sharply lower than the 315,000 net gain for March. A separate report released Thursday showed that fewer job cuts were announced in May than both the month and year before. Foreign-born workers: In addition to high labor force participation rates among prime working age individuals, specifically prime working-age women, the US labor market is benefiting from a boom in immigrant workers. Some of these workforce moves typically come at the end of the school year, meaning the May jobs report and June report could show the effects.
Persons: It’s, we’ve, Elizabeth Crofoot, , aren’t, Crofoot, Dean Baker, that’s, Julia Pollak, , ” Andrew Challenger, Ryan Sweet, CEPR’s Dean Baker Organizations: CNN, Bureau of Labor Statistics, Federal Reserve, BLS, Center for Economic, Policy Research, “ Employers, Department of Labor, Challenger, Secondary School Emergency, Oxford Economics Locations: State
By the time former President Donald J. Trump was convicted last week on 34 felony counts, the vast majority of people had made up their minds about him. But a small sliver of Trump-ambivalent voters is out there — and in a close presidential election, they matter a lot. For days, The New York Times has been listening to those voters process the news of Mr. Trump’s conviction, trying to measure the small shifts that could alter the contest between him and President Biden. A New York Times/Siena College Poll study of nearly 2,000 voters found modest good news for Mr. Biden. While the vast majority of people had not changed their position on the two men, more voters moved away from Mr. Trump than toward him.
Persons: Donald J, Trump, Trump’s, Biden, Will Trump, Will Biden Organizations: New York Times, Siena
Forty years later, another aging president facing re-election plans to return to the same spot Friday to honor the same heroes and effectively align himself with Mr. Reagan’s legacy of leadership against tyranny. President Biden will not be the first president to try to walk in Mr. Reagan’s footsteps in Normandy, and it is a risky gamble. To many in both parties, Mr. Reagan’s speech remains the gold standard of presidential oratory and none have matched it at Normandy since. But like Mr. Reagan, Mr. Biden wants to use the inspiring story of the Rangers at Pointe du Hoc to make a case for American alliances in the face of Russian aggression — and, implicitly, for himself. If there is something audacious about Mr. Biden, a staunch Democrat who was no friend of Mr. Reagan’s in the 1980s, summoning the spirit of the Republican legend, it speaks to the up-is-down, black-is-white nature of politics in today’s America.
Persons: Ronald Reagan, Biden, Reagan, Mr, Reagan’s Organizations: Army Rangers, Rangers, Republican Party Locations: Normandy, France, Pointe du Hoc, today’s America
is the chief Africa correspondent for The Times based in Nairobi, Kenya. He previously reported from Cairo, covering the Middle East, and Islamabad, Pakistan.
Organizations: The Times Locations: Africa, Nairobi, Kenya, Cairo, Islamabad, Pakistan
A decade ago, Millennium Management managed $21.1 billion and had 18 senior people — all a part of the executive committee — listed on its website. Now the $64 billion multistrategy manager has 47 names on its leadership page split among divisions like the relatively new Office of the CIO. Executive teams are often just a firm's founder and a few trusted lieutenants. Many departures from the firm's top level have been executives launching their own funds or joining Millennium colleagues starting their own funds. Michael Gelband and Hyung Lee, who once ran fixed income and equities, respectively, brought the business-development pro Peter Hornick and the risk executive Dev Joneja with them when they launched ExodusPoint.
Persons: , Izzy Englander, hasn't, Englander, Bobby Jain, Ajay Nagpal, Michael Chung, Peter Santoro, Izzy, Jain, Stephen Haratunian, Michael Gelband, Hyung Lee, Peter Hornick, Dev Joneja, Kurt Baker, Jonathan Xiong Organizations: Millennium Management, Business, Fidelity, Bloomberg, Citadel, Millennium Locations: BlackRock, New York, Asia
A Russian military planner said he doesn't sleep well after sending troops to almost certain death. "I can't tell the men, otherwise they wouldn't fight with the hope of winning," he said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA Russian soldier who plans offensives as part of the invasion of Ukraine said he finds it difficult sending men into situations where he knows they will probably die. This story is available exclusively to Business Insider subscribers.
Persons: , Pavel Organizations: Service, Moscow Times, Business Locations: Russian, Russia, Ukraine
Read previewCharlie Michael Baker used to be "majorly sexually active," but at age 17 he's decided he's not having any more sex. Charlie Michael Baker has decided to abstain from sex. But for others, not having sex is a more conscious choice. Similarly, Gen Z women in the US are swearing off sex because men they've dated have treated them badly, BI's Jordan Parker Erb reported last year. For Baker, celibacy makes him feel more comfortable with himself because he no longer feels the need to "keep a man happy," and avoids getting hurt by people who give him "false hope."
Persons: , Charlie Michael Baker, he's, Baker, Julia Fox, Lenny Kravitz, Suki Waterhouse, Justin Bieber, Disney starlets, Zers, Roe, Wade, Zach Sang, Gen, they've, BI's Jordan Parker Erb, Bumble, hasn't, father's, Sandra Wheatley, Wheatley Organizations: Service, Business, Guttmacher Institute, Guardian, British Psychological Society Locations: Korean, Korea
He might not have anticipated all the particulars, such as the porn actress in the hotel room and the illicit payoff to keep her quiet. But he feared that eventually a criminal might occupy the presidency and use his powers to thwart anyone who sought to hold him accountable. But as hard as they worked to establish checks and balances, the system they constructed to hold wayward presidents accountable ultimately has proved to be unsteady. And it raises fundamental questions about the limits of power in a second term, should Mr. Trump be returned to office. Given that, it would be hard to imagine what institutional deterrents could discourage abuses or excesses.
Persons: Patrick Henry, , Donald J, Trump
Former Mexico City mayor Claudia Sheinbaum speaks after being named presidential candidate of the ruling Morena party for next year's presidential election in Mexico City on September 6, 2023. Voters in Mexico are participating in the country's largest election ever — casting votes Sunday to fill more than 20,000 local, state and federal positions and almost certainly elect their first female president. But rampant violence has marred the road toward one of the most consequential elections in Mexico's history. Violence against political figures has also persisted throughout this election cycle, resulting in a 150% increase in the number of victims of political violence since 2021, according to an analysis from Integralia, a public affairs consulting firm that researches political risk and other issues in Mexico. These have greatly dismayed Mexican voters, leading most of them to cite security as a top issue of concern.
Persons: Claudia Sheinbaum, Xóchitl, Jorge Álvarez Máynez, Andrés Manuel López Obrador, López Obrador, Tony Payan, Lopez Obrador, Mexico's Organizations: Mexico City, Voters, Mexico's National Institute of Statistics, Broad, Citizen, Center, U.S, Rice, Baker Institute for Public, National Action Party, PAN, Democratic Revolution Party, Institutional Revolutionary Party, Locations: Mexico City, Mexico, U.S, Morena, Mexican, United States
In this article BTC.CM= Follow your favorite stocks CREATE FREE ACCOUNTOmer Taha Cetin | Anadolu | Getty ImagesA major thesis around bitcoin ETFs was that financial advisors needed regulated funds like them to direct their wealthy clients to invest in bitcoin. For one, bitcoin ETFs have been hailed as the most successful ETF launches in history, with BlackRock's iShares Bitcoin Trust (IBIT) reaching $20 billion in assets under management this week, even with advisors sitting out. CNBC spoke with a dozen members of CNBC's Advisor Council, which includes Baker, to learn why so many financial planners are still down on bitcoin and bitcoin ETFs, and what could cause them to change their tune. Many hope consistent flows into bitcoin ETFs over the years can lower that volatility, but for now, it's still a deterrent for some. "Financial advisors now have a way to give clients access [to bitcoin] that's safe, reliable and regulated," said Bradley Klontz, managing principal of YMW Advisors in Boulder, Colorado.
Persons: Omer Taha Cetin, BlackRock's, I'm, Lee Baker, Baker, Ted Jenkin, , they're, It's, it's, Bradley Klontz, Cathy Curtis, bitcoin Organizations: Anadolu, Getty, Apex Financial Services, CNBC, YMW Advisors, Partners, Curtis Financial Locations: bitcoin, Atlanta, Boulder , Colorado, Oakland , California
But this was no ordinary extraordinary case. And President Biden was no disinterested bystander. If Mr. Biden spoke out directly, he would doubtlessly feed into Mr. Trump’s false narrative that the prosecution was nothing more than a political hit job to take out his challenger. Mr. Biden’s damned-if-you-do, damned-if-you-don’t conundrum meant that his political risks essentially outweighed his presidential imperatives. While many of his predecessors have played a pastoral role at other moments when the justice system was tested during incendiary cases — think Rodney King, Michael Brown or George Floyd — Mr. Biden concluded that speaking out would make things worse, not better.
Persons: Biden, Donald J, Trump, Biden’s, Rodney King, Michael Brown, George Floyd — Mr Organizations: White Locations: United States
Ukraine's special forces have developed new drone tech that Russia can't jam. Drones can now fly and hit targets without GPS or operator input, The Economist reported. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUkraine's special forces have developed new software that allows drones to fly without the use of GPS, limiting the impact of Russian jamming. The software, called Eagle Eyes, allows unmanned drones to travel using sight rather than satellite-based GPS navigation, The Economist reported.
Persons: Organizations: Service, Business Locations: Russia, Ukraine
There's a new group of talent managers making waves in the creator ecosystem. Business Insider is highlighting 15 rising stars helping influencers build their brands. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA new crop of professionals has entered the talent manager space. This story is available exclusively to Business Insider subscribers.
Persons: influencers, , Al Baker Organizations: Service, B Digital Management, Business
The Toussaint Louverture International Airport, which has reopened after being closed for nearly three months due to gang violence, in Port-au-Prince, Haiti, on May 20. Montis and the Lloyds barricaded themselves inside their residence on the compound, but it was not enough, Lloyd told CNN. US Ambassador to Haiti Dennis Hankins walks after Haiti’s transitional council ceremony, on the outskirts of Port-au-Prince, Haiti on April 25, 2024. The situation on the ground in Port-au-Prince remains anarchic,” he warned. But Thursday morning, the bodies of Davy and Natalie Lloyd finally began their long journey home.
Persons: Davy, Natalie Lloyd, Haiti Dennis Hankins, , Toussaint, Ralph Tedy Erol, Jude Montis –, Davy Lloyd’s, David Lloyd, Lloyd, Eric Burlison, Sen, Josh Hawley, ” Burlison, we’ve, ” Natalie Lloyd’s, Naomi Baker, Ben Baker, Stacy Librandi Bourne, Vitel’homme, , Baryé, ” Innocent, Judes Montis, Odelyn Joseph, Gary Desrosiers, Eunide Majeur Montis, Jude Montis, Cassidy Anderson, , Natalie, Champ de Mars, Hawley, Biden, “ Natalie, CNN’s AnneClaire Stapleton, Hande Atay Alam, Natalie Barr, Nikki Carvajal Organizations: CNN, Prince, US, Kansas City, US State Department, Reuters, Local carrier Sunrise, Lloyds, White, Missions, Missouri US, US National Security, State Department, US Embassy, , AP, HERO, Haiti’s National Police, Baker’s, General Hospital, Champ Locations: Haiti, American, Port, Miami, Kansas, United States, Prince, Haiti’s, Caribbean, Eric Burlison , Missouri, Missouri
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewCentral Europe's largest ammunition supplier said that quality and cost issues meant that half of the shells it's sourcing for Ukraine can't be sent directly to the country, according to the Financial Times. In January, NATO Secretary General Jens Stoltenberg said that the war in Ukraine had "become a battle for ammunition." Ukraine has been forced to limit itself to firing 2,000 shells per day for much of this year, Ukrainian President Volodymyr Zelenskyy said. AdvertisementAnd it's only been since mid-May that its forces have started to breathe more easily over their ability to expend shells, Zelenskyy said.
Persons: , Michal Strnad, Strnad, Strnad's, Jens Stoltenberg, Sinéad Baker, Volodymyr Zelenskyy, Zelenskyy Organizations: Service, Financial Times, Czechoslovak Group, Business, CSG, Radio Free, NATO, Reuters Locations: Ukraine, Czech, Asia, Africa, Prague, Russia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSlowing retail sales and consumer spending makes it a stock picker's market: D.A. Davidson's BakerMichael Baker, D.A. Davidson senior research analyst, joins 'Squawk on the Street' to discuss what to glean about the consumer after recent earnings results, how to pick the winners in the retail space, and where the opportunity is in retail.
Persons: Davidson's Baker Michael Baker, D.A, Davidson
Read previewThe US has accused China of covertly supporting Russia's invasion of Ukraine, and suggested that further US and NATO sanctions would be leveled against it. "What we've seen from China to Russia is not a one-off or a couple of rogue firms involved in supporting Russia," Campbell said, according to Reuters. "This is a sustained, comprehensive effort that is backed up by the leadership in China that is designed to give Russia every support behind the scenes." While many Western countries have put sanctions on Russia, China has remained a close economic ally, which has helped Russia finance its war. AdvertisementWhile Ukraine has support from many allies, including the US, UK, and Germany, their support has come in waves that have been disrupted by politics.
Persons: , Kurt Campbell, Campbell, he'd, Joe Biden, Xi Jinping Organizations: Service, NATO, Business, Reuters, North Atlantic Council, US Locations: China, Ukraine, Belgium, Russia, Europe, Beijing, Iran, North Korea, Germany
Signage is seen outside of a Walgreens, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City, U.S., November 26, 2021. Walgreens announced Wednesday it would continue to cut prices on some 1,300 items — the latest company to pivot to value amid signs U.S. consumers are experiencing spending fatigue. "Walgreens understands our customers are under financial strain and struggle to purchase everyday essentials," said Tracey D. Brown, EVP, President, Walgreens Retail & Chief Customer Officer. Lower-income consumers have been cutting back more substantially. Meanwhile, other areas of the economy more closely tied to wealthier consumers continue to outperform, especially travel.
Persons: Tracey D, Brown, we've, Ramon Laguarta, Jamie Baker Organizations: Walgreens, Walgreens Boots Alliance, Inc, Walgreens Retail, Target, Walmart, Conference Board, PepsiCo, American Airlines, JPMorgan Locations: Manhattan , New York City, U.S
Poland and other European NATO members are warning that Russia could launch an attack. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA NATO country unveiled a new plan for its border intended to defend against attacks coming from Russia. Poland's defense ministry on Monday touted its "east shield," an operation to strengthen its eastern border with Russia and Belarus. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: NATO, Service, Business Locations: Poland, Russia, Belarus, NATO
The 15 Most Unforgettable Looks From Cannes
  + stars: | 2024-05-28 | by ( The Styles Desk | ) www.nytimes.com   time to read: 1 min
The Cannes Festival jury led by Greta Gerwig announced its winners this weekend, including the Palme d’Or for “Anora,” a comedy from the American filmmaker Sean Baker about a sex worker who marries the son of a Russian oligarch. The ceremony concluded 10 full days filled with movies and long ovations, news conferences peppered with politics, a filmmaker’s return, women-led films that caused a stir, a president’s origin story and, of course, canine stars. But the Côte d’Azur’s red carpet proved also to be a bonanza, where stars upped the ante on style, wearing bright swaths of color, statement hats that canceled out the need for any SPF — and baring skin, lots of it. Here, 15 looks worth remembering.
Persons: Greta Gerwig, Palme, , , Sean Baker, baring Organizations: Cannes Locations: Russian
The FBI is helping investigate stolen items from the British Museum, per the BBC. It's investigating if items from the museum were sold to US buyers, the report said. This includes items bought off eBay that may have come from the museum's collection. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe FBI is investigating the potential sale of hundreds of items stolen from the British Museum to American buyers, including some sold on eBay, the BBC reported.
Persons: Organizations: FBI, British Museum, eBay, Service, BBC, Business Locations: London
Read previewRussia began its latest offensive in northern Ukraine too early and without enough soldiers because it wanted to get ahead of Western aid heading to Ukraine, experts said. AdvertisementRussia started its new offensive in Kharkiv, in northeast Ukraine, earlier this month. But, it added, "the likely premature start of Russian offensive operations appears to have undermined Russian success in northern Kharkiv Oblast." AdvertisementUkraine's President Volodymyr Zelenskyy in Kharkiv, Ukraine, on May 24, 2024. In April, Ukrainian President Volodymyr Zelenskyy said Russia was firing 10 times more artillery than Ukraine, and had 30 times more aircraft.
Persons: , ISW, Volodymyr Zelenskyy, Zelenskyy Organizations: Service, Washington DC, for, Business, Presidential, AP Ukraine, Forces, Kharkiv, BI Locations: Russia, Ukraine, Kharkiv Oblast, Kharkiv, Kharkiv City, Berestove, Vovchansk
I think I use generative AI every day, and it's taken me a year to become comfortable with that intervention and interface," he said. "It's going to lead to better outcomes for them and ultimately and more importantly, better outcomes for our customers." JLL recently launched multiple AI initiatives, including an HVAC energy-optimization platform to help reduce energy and service costs, and JLL GPT, a generative AI project built for the commercial-real-estate industry. AdvertisementFor Dr. Mozziyar, AI's greatest potential in the medical field is its ability to assess patients' conditions. "We want the interaction with AI, or the use of AI, to paradoxically remove the barriers between, in our case physician and the computer," said Dr. Mozziyar.
Persons: Matt Baker, Baker, Mozziyar Etemadi, Etemadi, Peter Miscovich, Miscovich, Mozziyar, JLL, They're Organizations: Service, Efficiency, Dell Technologies, Business, Northwestern Medicine, Dell
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