The Good News: The Job Market Is Solid. The Bad News: The Job Market Is Solid. PSP Hacks

The Upshot|The Good News: The Job Market Is Solid. The Bad News: The Job Market Is Solid.

Friday’s numbers take some of the immediate worries off the table, but they don’t mean that all is well in the U.S. economy.

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CreditCreditWilfredo Lee/Associated Press

Neil Irwin

The best news to be found in the June jobs numbers, released Friday morning, is in what they don’t show.

After the May numbers showed a steep pullback in the rate of job creation, there was reason to worry that a turning point for the economy had arrived, and that a major slowdown or even recession could be in the offing — a fear seemingly confirmed by many surveys of industrial activity.

The June numbers did nothing to confirm that narrative, putting those fears to rest at least for one more month.

Employers added a robust 224,000 jobs, the Labor Department said, up from a revised 72,000 in May. The unemployment rate edged up to 3.7 percent, but for a benign reason: The number of people who were without a job but looking for one rose, meaning the share of Americans in the labor force increased; the number of people working rose even more.

Notably, the manufacturing sector added 17,000 jobs after two straight months of adding a mere 3,000, evidence that some of those bad results in surveys are not translating into less hiring. It aligns with other real-time indicators of the job market, such as weekly claims for unemployment insurance benefits, which hover near historical lows.

The new numbers might even be good enough to cause the Federal Reserve to rethink its plans to cut interest rates. That, at least, was the worry evident in financial markets Friday morning, as the stock market fell and interest rates on Treasury bonds rose.

A big rally in the stock market in recent weeks has been driven by the Fed’s signals that it will cut interest rates, perhaps as soon as late July. Strong June jobs numbers will give ammunition to those in the Fed who want to wait longer to see more hard evidence of an economic slowdown before cutting rates.

But just because the employment numbers take some of the “imminent recession risk” off the table doesn’t mean they signal all is well in the American economy. In effect, some of the details within the jobs report tend to confirm that in recent months the progress toward creating an economy that works for more Americans has stalled.

Most notably, average hourly earnings have risen only 3.1 percent over the last year. Inflation is low enough that this does signal a higher real income for the average wage earner. But it amounts to a deceleration over the last few months. Wages rose 3.4 percent for the 12 months ended in February.

A really positive development would be for more Americans who have been on the sidelines of the labor force — neither working nor looking for work — to find employment. But progress on that front has also stalled.

If you look at people in the so-called prime working years — ages 25 to 54 — 79.7 percent were employed in June. That’s actually down slightly from February’s 79.9 percent, and below the 80.3 percent level at the start of 2007 and even further below the 81.9 percent record high reached in April 2000.

None of that is to say that the current job market is poor. It is easily stronger than it ever was during the mid-2000s expansion, and arguably better even than in the booms of the late 1990s and late 1980s.

But it doesn’t show the signs of bursting at the seams. Even as low as the unemployment rate is, employers don’t seem to be bidding up the wages to get workers, and not all of the people who might plausibly want to work are doing so.

And that is taking place as financial markets send ominous signs about the global economy. Even after Friday morning’s price swings, long-term interest rates remained below shorter-term rates, a so-called inverted yield curve that often presages trouble.

In other words, the American job market is steady and solid, and not flashing any reason for panic. The weak May numbers were a mere hiccup. But there’s a big difference between arguing that things are steady and solid and arguing that this economy, 10 years into the expansion, is as good as it can be.

For the average American worker, conditions still aren’t there yet.

Neil Irwin is a senior economics correspondent for The Upshot. He is the author of “How to Win in a Winner-Take-All-World,” a guide to navigating a career in the modern economy. @Neil_Irwin Facebook

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Stable and Sound, With Few Alarm Bells, but Far From Being Just Right. Order Reprints | Today’s Paper | Subscribe

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Google is redesigning its News tab with more emphasis on headlines and publisher names PSP Hacks

Google is rolling out an update to the News tab of its desktop search function, with a refreshed design that sacrifices information density for clarity.

The new design, which the company announced in a tweet, brings the look of the News tab closer to that of the dedicated Google News site. News stories are now displayed in a card format rather than a list, making headlines and the names of publishers more prominent. It also seems like the company is grouping stories together more clearly, so if you search for a broad topic (like “MLB”) it’s easier to distinguish different strands of coverage.

Over the next couple weeks we’re rolling out a redesigned News tab in Search on desktop. The refreshed design makes publisher names more prominent and organizes articles more clearly to help you find the news you need. Check it out pic.twitter.com/xa2aZfO4Qd

— Google News Initiative (@GoogleNewsInit) July 11, 2019

The change itself is relatively minor, but it’s part of a larger effort by Google to improve its news products. The tech giant’s treatment of news sometimes seems like an afterthought, with the company content to have its search and aggregation features scoop up content. But anxiety over digital news has grown in recent years, with publishers worried by diminishing revenue and experts warning about the proliferation of low-quality sources.

Google’s response has been multi-pronged. It’s formed partnerships with local news orgs; created new mechanisms that make it easier for users to subscribe to publishers; set up programs to fight fake news; and relaunched its own dedicated News app with new AI features. It’s a flurry of activity, though it’s not clear if any of these programs will change the basic dynamic of the current media landscape, with tech platforms continuing to cut into the revenues of publishers while pushing users to dubious publishers.

The updated News tab will be rolling out to users around the world in the coming weeks.

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Canine cancer research could also help humans, there’s an Amazon phishing scam to watch out for, and Facebook gets hit with a record settlement. Here’s the news you need to know, in two minutes or less.

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Today’s Headlines

Dogs are playing a big role in human cancer research

Cancer in aging dogs is all too common, but it turns out treatments for your furry friend have implications for people too. Many of the types of cancer dogs get are similar to those in humans, and with collaborative work between animal and human medicine in the Obama-launched Cancer Moonshot Initiative, researchers are exploring treatments that could save the lives of both dogs and people.

An Amazon phishing scam hits just in time for Prime Day

With Amazon’s Prime Day around the corner, security company Mcafee detailed a phishing scam that enables hackers to send an email that looks like it’s from Amazon, with a PDF attachment that leads anyone who clicks to a website mimicking an Amazon login page. From there, the malicious site requests not just the victim’s name but also their birthday, home address, credit card info, and Social Security number. Remember: Always check who your emails are from, and don’t open attachments unless you’re sure they’re from someone you trust.

The FTC hit Facebook with a record $5 billion settlement

After months of negotiations, the FTC has reportedly fined Facebook a record-setting $5 billion for its privacy violations. If approved by the Justice Department’s civil division, it will be the first substantive punishment for Facebook in the US. But until then, important questions remain, like whether the FTC will hold Facebook CEO Mark Zuckerberg personally liable, and to what sort of external oversight Facebook may have to submit going forward.

Cocktail Conversation

The controversy surrounding smartphone voice assistants had its flames fanned this week when a Belgian public broadcaster gained access to over 1,000 Google Assistant recordings from a Google contractor charged with reviewing them. What do contractors listening to Google Assistant queries hear? Everything from requests for porn to household arguments, medical discussions, and kids’ conversations.

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BRITTANY HOSEA-SMALL/Getty Images

Apple’s iOS 13 is ready for public testing; a space camp is teaching students how to survive on Mars; and we’ve got some bike helmet suggestions for summer. Here’s the news you need to know, in two minutes or less.

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Today’s Headlines

iOS 13 public beta is here

Good news: You can now download a test version of the new iPhone operating system that is scheduled for a fall release. iOS 13 should make your phone a little faster and more secure, but more than that, it will optimize your photos app, let you use Apple Sign On for more privacy on the web, and introduce a completely different look: dark mode.

A new kind of space camp teaches the art of martian medicine

Don’t assume the “medical” in the University of Colorado Anschutz Medical Campus means just earthly medicine: now it has a course preparing students for whatever medical maladies would strike humans on Mars. The course is driven by Mars-applicable lectures about topics like radiation and the psychological difficulties of isolation and confinement. It also has spacesuit-clad simulations of what a real-life gone-wrong scenario would look like.

Cocktail Conversation

Learning you’ve nabbed the title role in a major superhero franchise is probably the best news an actor can get. But Tom Holland, star of the upcoming Spiderman: Far From Home, found out in a strange way: with everyone else, on Instagram. He didn’t believe the Sony Pictures post at first, because the company had recently been hacked (this was back in 2015). But when Marvel Studio’s head Kevin Feige called to tell him the news, he simply replied, “I have to be honest, Kevin. I already know. You put it on Instagram.”

WIRED Recommends: Bike Helmets

If your mother is anything like mine, she constantly told you your head is “like an egg.” That is, fragile with valuable stuff inside. Let your legs fly on the bike of your choice while you protect your noggin with one of these 3 helmets rated by WIRED’s experts.

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The global space business is worth $415 billion – Yahoo Finance

Fifty years ago, the world watched as American astronauts Neil Armstrong and Buzz Aldrin took the first steps on the moon, the culmination of a near decade-long race between the U.S. and the Soviet Union to determine the world’s technologically superior nation.

Today, a new space race has emerged, not between rival superpowers, but competing private enterprise backed by some of the planet’s richest men. Companies like Richard Branson’s Virgin Galactic, Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin are leading the charge to commercialize space travel, and they’re creating a ton of excitement along the way.

“Everybody’s talking about space again,” said Rich Cooper, Vice President of Strategic Communications and Outreach at the Space Foundation.

“Space has been cool for those of us who have been part of the industry, but there is a whole new generation of Americans that are getting reignited and excited about space because of companies like Blue Origin, SpaceX, and Virgin Galactic,” he added. “You’re having a whole new set of market entrepreneurs enter this area and really bring the cost to access space down, but also communicating with people that makes them feel connected to it.”

According to the Space Foundation, the global space economy is now worth about $414.75 billion, with more than half of that value coming from commercial space products and services.

Cooper says that number is only expected to grow as space related technologies creep into all corners of the developed world.

The global space economy reached new heights in 2018, exceeding $400 billion for the first time ever.

“Space is a critical infrastructure,”he said. “Everything that we do here on Earth is directly connected to what’s happening above. Whether that be cell phones, whether that be data, whether that be advanced medical technology… every facet of our lives is connected to that and that’s what becomes a larger part of a global space economy that is creating jobs and is creating opportunity that we always thought were reserved for the rocket scientists and the astronauts.”

Mars by 2030?

With the lunar landing behind us, experts and science fiction fans alike are looking to the next frontier in space travel: Mars. Depending on the time of year, the red planet sits anywhere from 33 million to 250 million miles away from Earth, putting the total travel time anywhere between 39 and 289 days. Although a trip that long may sound like a daunting task, Cooper said we could possibly send a human to Mars by 2030.

“The hope is that we could see [reaching Mars] hopefully within the early 2030’s if at all possible, if not sooner,” Cooper said. “This is a longer journey that needs to be taken and there are steps that need to be taken to make sure that it is safe, it is affordable, and it is sustainable.”

Read the latest financial and business news from Yahoo Finance” data-reactid=”39″ type=”text”>Read the latest financial and business news from Yahoo Finance

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African Union warns travel curbs would hurt DRC’s Ebola response – Aljazeera.com

A top African Union (AU) health official has warned against curbing travel to the Democratic Republic of the Congo amid heightened concerns the country’s Ebola outbreak could spread more widely in the region.

According to DRC’s health ministry, the current Ebola outbreak has killed more than 1,700 people – more than two-thirds of those who contracted it – since it emerged in the country’s eastern North Kivu and Ituri provinces last August. 

Combined, the two provinces border Rwanda, Uganda and South Sudan.

“We want to be sure that the international community and member states in Africa do not impose any restrictions on travels to anyone going into or coming outside of the DRC,” John Nkengasong, director of the AU’s Africa Centres for Disease Control and Prevention (CDC), said on Friday.

Doing so would “impede our ability to effectively control the virus”, Nkengasong told reporters at the AU headquarters in Ethiopia’s capital, Addis Ababa.

‘Do not panic’

On Wednesday, the World Health Organization (WHO) declared the epidemic a public health emergency of international concern (PHEIC), just days after the virus spread to a major urban hub for the first time and raised the spectre of a rapid increase in transmission rates.

A PHEIC is a rare designation used only for the gravest epidemics and had only been applied four times in the past.

Making such a declaration typically boosts global attention and can spur an increase in international aid.

The WHO said the move recognised the “possible increased national and regional risks and the need for intensified and coordinated action to manage them”, but also said no country should close its borders or place any restrictions on travel or trade because of Ebola.

Any closure of borders with the DRC could make it more difficult to move people and medical supplies in or out of the affected area, potentially hindering response teams’ efforts to end the epidemic.

“Essentially for the rest of the world, the main recommendation is: support DRC and don’t panic,” WHO spokeswoman Margaret Harris said on Friday. “Do not shut borders. Do not put on travel and trade restrictions. Do not panic.”

‘Perfect storm’

On Sunday, the DRC’s health ministry registered the first case of Ebola in Goma, a city of some two million people in North Kivu and near the border with Rwanda.

Goma has a port that links to the city of Bukavu in neighbouring South Kivu province, as well as an airport with flights to the capital Kinshasa, Uganda’s Entebbe and Addis Ababa.

Outside of the case in Goma, and three fatal cases in Uganda last month, the outbreak has been confined to other largely rural regions of North Kivu and Ituri.

The WHO said on Thursday there were currently no cases outside of DRC, with hand washing and fever checks being enforced by police on the country’s border with Rwanda.

But efforts to end the epidemic have been repeatedly hampered by a “perfect storm” of regional insecurity in eastern DRC and deep community mistrust over the crisis and towards authorities.

Unidentified attackers killed two Ebola health workers near Mukulia in North Kivu last week, the latest in a string of assaults against medical personnel or health facilities.

Amid the unrest, health workers have vaccinated some 160,000 people. The vaccine is experimental but is estimated to be 97.5 percent effective and, according to the WHO, may protect a person for up to 12 months.

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Fayette Co. Health Dept. monitoring travelers to areas affected by Ebola outbreak – WKYT

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Posted:
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Updated: Fri 6:52 PM, Jul 19, 2019

LEXINGTON, Ky. (WKYT) – Kentucky health leaders are watching what’s happening in the Democratic Republic of Congo.

Photo: WKYT/Kristen Kennedy

The World Health Organization says the Ebola crisis there is a public health emergency. So far, more than 16-hundred people have died from the latest outbreak.

To put the number in perspective, that’s roughly the entire city of Midway.

Dr. Kraig Humbaugh, Commissioner of Health, says the risk to Central Kentuckians is very low.

“This is really, right now, in an area in the Northeast, fairly remote part of the county, in the Democratic Republic of Congo. However, there are concerns that it could spread.”

Dr. Humbaugh says monitoring the health of people entering Kentucky, could be the Commonwealth’s best defense to keeping the virus out.

“We are notified about who those folks are and they check in with us, and we evaluate them for risk factors and then we monitor them, they agree to be monitored for a 21-day period.”

Monitoring includes checking travelers’ temperature and checking for symptoms.

“We’ve already monitored a person in Lexington this year, and we expect that we will have other travelers that return from that area that will be monitored.”

Dr. Humbaugh pointed out, that currently there are no reported cases of Ebola in the United States.

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Who developed the Boeing 737 Max’s flawed software? Low-paid temp workers and recent college grads, according to report

As the Department of Justice reportedly expands the scope of its investigation into Boeing from the 737 Max to the 787 Dreamliner, Boeing engineers are reporting another miscalculation inside the beleaguered company.

Bloomberg’s Peter Robison reported on June 28 that Boeing and its suppliers outsourced some of its 737 Max software development and testing to temporary workers. These temp workers, some of whom were recent college graduates, were employees or contract workers for Indian tech firms HCL Technologies and Cyient Ltd.

Some of the testers and developers made as little as $9, the longtime engineers told Bloomberg. Former Boeing flight controls engineer Rick Ludtke said the move to outsource was centered on cost-cutting.

“Boeing was doing all kinds of things, everything you can imagine, to reduce cost, including moving work from Puget Sound, because we’d become very expensive here,” Ludtke told Bloomberg. “All that’s very understandable if you think of it from a business perspective. Slowly over time it appears that’s eroded the ability for Puget Sound designers to design.”

Faulty software on the Boeing 737 Max has seemingly contributed to two fatal crashes, which killed 346 people between October and March. The 737 Max was grounded around the world after the March crash, leading Boeing to a first-quarter loss of $1 billion.

Read more: American Airlines just ordered 50 new Airbus planes — and it’s a huge blow to Boeing

Former Boeing software engineer Mark Rabin told Bloomberg that a manager said at an all-hands meeting that senior engineers were no longer required at the company.

“I was shocked that in a room full of a couple hundred mostly senior engineers we were being told that we weren’t needed,” Rabin told Bloomberg.

However, Rabin said the code was often “not done correctly” and that a lot of “back and forth” was required to get the code accurate. The coders from HCL were working to specifications established from Boeing engineers.

A Boeing spokesperson told Bloomberg that safety is always the primary focus, including when working with outside partners.

“Boeing has many decades of experience working with supplier/partners around the world,” the spokesman said. “Our primary focus is on always ensuring that our products and services are safe, of the highest quality and comply with all applicable regulations.”

Read the entire report from Bloomberg here.

Get the latest Boeing stock price here.

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