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Daily Scoop 12-6

Daily Scoop 12-6

👋 Your Monday Scoops - Tinder in the metaverse & Uber listens in on rides

December 06, 2021

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Today's Scoop:Rebound

Big Picture

Way fewer people went back to work in November than expected.
Cryptocurrency prices plummeted over the weekend.
Labor shortages are forcing corporations to boost wages.

The Market

⬆️

+1.2%

S&P 500: 4,591.67

1Mo:

-2%

| 1Yr:

+24%

| 5Yr:

+103%

Markets recovered a bit today from the ugly day on Friday. The official November jobs report showed way fewer people back to work than expected. The Labor Department reported employers adding only 210,000 more jobs last month when economists expected more than double that. Labor force participation is still much lower than before the pandemic. This possible indication of a slowing recovery, combined with fears of another covid wave, left investors very nervous on Friday. They shifted out of risky assets and into safer ones. Cryptocurrency prices across the board plummeted, with Bitcoin losing about 15% of its value over the weekend.

Company Scoops ❤🌎💰

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

Match

is bringing Tinder to the metaverse

John Deere

salary employees benefit from the strike

Uber's

listening in on rides to boost safety

Toyota's

shifting methods to beat Tesla

Dollar General's

looking for a wealthier audience

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

🤓 Inside Scoop...

There are three main reports people watch to understand trends in the labor market. The U.S. Bureau of Labor Statistics puts out the "big" monthly report highlighting the unemployment rate and job growth. There's also a private-sector survey from payroll services company ADP and the weekly initial unemployment claims (a proxy for layoffs) report from the Labor Department.