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Daily Scoop 9-7

Daily Scoop 9-7

👋 Your Monday Scoops - Lyft battles anti-abortion law & Chevron's ready for battle

September 07, 2021

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Today's Scoop:Dissapointment

Big Picture

Way fewer people than expected were able to return to work in August.
The extra $300 weekly pandemic boost to unemployment benefits has expired.
Bitcoin prices crashed today as El Salvador adopted it as the national currency.

The Market

⬇️

-0.3%

S&P 500: 4,520.03

1Mo:

+2%

| 1Yr:

+36%

| 5Yr:

+112%

Markets returned from Labor Day weekend with a lingering pessimism about the labor market. Friday's official jobs report showed underwhelming progress. The unemployment rate improved slightly to 5.2%, but only 235,000 people returned to work when economists expected over 700,000. Over 5.6 million of the unemployed cited pandemic-related reasons for not being able to work. The extra $300 weekly unemployment aid supplement ended this weekend. El Salvador adopted bitcoin as legal tender this weekend, purchasing over $20 million worth of bitcoin and installing crypto ATM's around the country.

Company Scoops ❤🌎💰

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

Lyft

battles Texas's new anti-abortion law

Disney's

Chevron

General Motors

FedEx's

(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").