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Daily Scoop 10-11

Daily Scoop 10-11

👋 Your Monday Scoops - Seattle pushes out Amazon & Southwest struggles

October 11, 2021

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Today's Scoop:Concerning

Big Picture

Fewer people found jobs in September than expected.
Teachers and education staff are in short supply.
Oil prices are hitting seven-year highs.

The Market

⬇️

-0.7%

S&P 500: 4,361.19

1Mo:

-2%

| 1Yr:

+23%

| 5Yr:

+105%

Markets stumbled downward to start the week. The September Jobs Report was underwhelming, with way fewer people back to work than expected. US employers were expected to add 500,000 jobs in September but only added 194,000. The leisure and hospitality sector gained 74,000 workers, but the public and private education sector lost over 160,000 jobs as schools struggled to hire enough staff amid covid concerns. Investors are worried about inflation again, particularly in energy costs, as oil prices hit new seven-year highs.

Company Scoops ❤🌎💰

(Click to dig in & vote your reaction, see how others feel)

Merck's

new covid pill

Southwest

shuts down

Tesla

heads to Texas

Amazon's

breaking up with its hometown

JPMorgan's

sharing secrets

(These links only work for 24 hours while the story is live)

🤓 Inside Scoop...

The Bureau of Labor Statistics reports on the health of the US jobs market monthly. It calculates six different unemployment rates, measuring the jobless as a percentage of the labor force. The rate most often referenced is the U-3 unemployment rate, which counts the number of willing and able workers who have actively sought work within the last four weeks but are currently not working. Some other rates might include measures of people who have given up looking ("discouraged workers") or those who want full-time roles but can only find part-time roles ("underemployed").