Daily Scoop 22-10-10

View this email in your browser

Today's Scoop:Shaky

Love your daily scoops? Share this email with a friend!

Big Picture

1. Unemployment is at historic lows, but people are leaving the workforce.

2. Wages keep rising.

3. America's business leaders are expecting a downturn next year.

The Market: 

⬇️

-0.8%

S&P 500: 3,612.39

1Mo:

-12%

| 1Yr:

-17%

| 5Yr:

+41%

Markets wavered today after a big dip on Friday following the September jobs report.

Unemployment declined to historic lows last month

, but more people left the labor force. Total employment increased by 263,000 in September, and the unemployment rate decreased to 3.5%. About half a million more people are working than before the pandemic.

Wages continued to climb as well,

now up 5% over last year.

More working-age Americans are leaving the job market.

The labor force participation rate fell to 62.3%.

America's CEOs expect economic pain in the next 6-12 months.

JPMorgan's CEO Jamie Dimon warned of a more-than-mild recession from rising rates and high inflation next year.

The fate of the war in Ukraine will be a major factor.

Company Scoops ❤🌎💰

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

Uber's

security chief faces 8 years in prison

-

McDonald's

wins another racial bias challenge

-

Amazon

suspends union protesters

-

Peloton

slashes another 12% of its staff

-

Rivian

recalls basically every car it's made

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

🤓 Inside Scoop...

The

unemployment rate

and the

labor force participation rate

are two key metrics policymakers track to understand the state of the jobs market. The

labor force

is everyone who is defined as employed or unemployed. The participation rate is that number divided by the whole working-age population.

The most important part to understand is that the government only defines those who have actively looked for a job in the past four weeks as unemployed.

The unemployment rate does not track those who have stopped looking for a job, like

discouraged workers

or someone who stopped working to care for their children or elderly parents. So while a declining unemployment rate sounds good, if paired with a declining participation rate, it might indicate structural problems keeping people from working.

Make sure your inbox doesn't hide your Scoops

To prevent our emails from getting moved to your promotions or spam:

Gmail

: Move the Scoop to your "Primary" inbox:

• On Mobile: Within this email, select the dots (...) in the top right of your screen. Select "Move to" & "Primary". If it's not there, then your mailbox isn't segmented.

• On Desktop: Within your inbox, drag & drop this email into the "Primary" tab at the top left.

Apple

: Select the Scoops email at the top. Choose "Add to VIP"

You can find instructions here for all other email clients:

Save Scoops from your spam

💙 Share the scoop!

1. Share your unique link with friends & coworkers (forward or copy)

2. When they sign up you unlock exclusive rewards

3. Keep on sharing to unlock more rewards

Forward your unique link:

*|SHAREURL|*

You have made referrals