On Thursday, analysts spotlighted the news that the White House and congressional Democrats were moving toward dropping corporate tax increases they had wanted to include in the bill, as they hoped to forge a deal that could clear the Senate. A spending deal without corporate tax increases would be a potential boon to profits and share prices.

“A stay of execution on higher corporate tax rates would seem a potentially noteworthy development,” Daragh Maher, a currency analyst with HSBC Securities, wrote in a note to clients on Thursday.

An agreement among Democrats on what’s expected to be a roughly $2 trillion spending plan would also open the door to a separate $1 trillion bipartisan infrastructure plan moving through Congress. Progressives in the House are blocking the infrastructure bill until agreement is reached on the larger bill.

But the prospects for an agreement have helped to lift shares of major engineering and construction materials companies. Terex, which makes equipment used for handling construction materials like stone and asphalt, has jumped more than 5 percent this week. The asphalt maker Vulcan Materials has risen more than 4 percent. Dycom, which specializes in construction and engineering of telecommunication networking systems, was up more than 9 percent.

The renewed confidence remains fragile, with good reason. The coronavirus continues to affect business operations around the world, and the Delta variant demonstrated just how disruptive a new iteration of the virus can be.

Another lingering concern involves the higher costs companies face for everything from raw materials to shipping to labor. If they are unable to pass those higher costs on to consumers, it will cut into their profits.

“That would be big,” Mr. McKnight said. “That would be a material impact to the markets.”

But going into the final months of the year — traditionally a good time for stocks — the market also has plenty of reasons to push higher.

The recent weeks of bumpy trading may have chased shareholders with low confidence — sometimes known as “weak hands” on Wall Street — out of the market, offering potential bargains to long-term buyers.

“Interest rates are relatively stable. Earnings are booming. Covid cases, thankfully, are dropping precipitously in the U.S.,” Mr. Zemsky said. “The weak hands have left the markets and there’s plenty of jobs. So why shouldn’t we have new highs?”

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September 2021 Jobs Report Shows Gain of Just 194,000 as Delta Persisted

Job growth slowed to the year’s weakest pace last month as the latest coronavirus wave dashed hopes of an imminent return to normal for the U.S. economy.

Employers added just 194,000 jobs in September, the Labor Department said Friday, down from 366,000 in August — and far below the increase of more than one million in July, before the highly contagious Delta variant led to a spike in coronavirus cases across much of the country. Leisure and hospitality businesses, a main driver of job growth earlier this year, added fewer than 100,000 jobs for the second straight month.

“Employment is slowing when it should be picking up because we’re still on the course set by the virus,” said Diane Swonk, chief economist for the accounting firm Grant Thornton.

for the Federal Reserve, which is weighing when to begin pulling back support for the economy.

It is possible that the recent slowdown is a Delta-driven blip and will soon fade — or, indeed, may already be largely in the past. The data released on Friday was collected in mid-September, when the Delta wave was near its peak. Since then, cases and hospitalizations have fallen in much of the country, and more timely data from private-sector sources suggests that economic activity has begun to rebound. If those trends continue, people on the sidelines could return to the labor force, and hiring should begin to pick up.

“This report is a glance in the rearview mirror,” said Daniel Zhao, an economist at the career site Glassdoor. “There should be some optimism that there should be a reacceleration in October.”

But it is also possible that the damage done by the pandemic will take longer to heal than economists had hoped. Supply-chain disruptions have been unexpectedly persistent, and shifts in consumer behavior during the pandemic may not soon reverse. In surveys, many workers say they are reconsidering their priorities and do not want to return to their old ways of working.

Expanded unemployment benefits, which many businesses blamed for discouraging people from looking for work, ended nationwide early last month. Schools reopened in person in much of the country, which should have made it easier for parents to return to work. Rising vaccination rates were meant to make reluctant workers feel safe enough to resume their job searches. As recently as August, many economists circled September as the month when workers would flood back into the job market.

Instead, the labor force shrank by nearly 200,000 people. The pandemic’s resurgence delayed office reopenings, disrupted the start of the school year and made some people reluctant to accept jobs requiring face-to-face interaction. At the same time, preliminary evidence suggests that the cutoff in unemployment benefits has done little to push people back to work.

“I am a little bit puzzled, to be honest,” said Aneta Markowska, chief financial economist for the investment bank Jefferies. “We all waited for September for this big flurry of hiring on the premise that unemployment benefits and school reopening would bring people back to the labor force. And it just doesn’t seem like we’re seeing that.”

Ms. Markowska said more people might begin to look for work as the Delta variant eased and as they depleted savings accumulated earlier in the pandemic. But some people have retired early or have found other ways to make ends meet and may be slow to return to the labor force, if they come back at all.

In the meantime, people available to work are enjoying a rare moment of leverage. Average earnings rose 19 cents an hour in September and are up more than $1 an hour over the last year, after a series of strong monthly gains. Pay has risen even faster in some low-wage sectors.

Many businesses are finding that higher wages alone aren’t enough to attract workers, said Becky Frankiewicz, president of the Manpower Group, a staffing firm. After years of expecting employees to work whenever they were needed — often with no set schedule and little notice — companies are finding that workers are now setting the terms.

“They get to choose when, where and in what duration they’re working,” Ms. Frankiewicz said. “That is a role reversal. That is a structural change in the workers’ economy.”

Arizmendi Bakery, a cooperative in San Rafael, Calif., recently raised its wages by $3 an hour, by far the biggest increase in its history. But it is still struggling to attract applicants heading into the crucial holiday season.

“There are many, many, many more businesses hiring than there used to be, so we’re competing with many other businesses that we weren’t competing with before,” said Natalie Baddorf, a baker and one of the owners.

The bakery has managed to hire a few people, including one who began this week. But other workers have given their notice to leave. The bakery, which has been operating on reduced hours since the pandemic began, now has enough business to return to its original hours, but cannot find enough labor to do so.

“We’re talking about cloning ourselves,” Ms. Baddorf said.

Jeanna Smialek and Jim Tankersley contributed reporting.

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MarketSpace Capital and DigiShares Partner to Tokenize A 250-Unit Active Older Adult Housing Development in Dallas, Texas.

HOUSTON–(BUSINESS WIRE)–MarketSpace Capital, a real estate private equity firm headquartered in Houston, Texas, announced today it has partnered with DigiShares, a leading end-to-end white-label platform for tokenized securities, to digitize, tokenize and manage the share cap table for the Spot @ Myra Park, a real estate development project in Dallas, Texas.

The Spot at Myra Park is a 250-unit multifamily apartment complex that recently broke ground and is expected to be completed in Q4 2022. The equity interests in the Spot at Myra Park will be digitized by DigiShares using Ethereum blockchain technology. Subject to legal and regulatory due diligence and securities law considerations, MarketSpace Capital expects the digital securities to become tradable on the tZero ATS.

DigiShares CEO, Claus Skaaning stated, “We are excited to work with MarketSpace Capital to tokenize the Spot at Myra Park. This is one of the most significant and solid real estate projects in which we have been involved. We view MarketSpace as a highly professional and forward-looking player in the US real estate markets and are proud to be working with them on this project. At the same time, it marks a big step forward for DigiShares as a key player in the global security token ecosystem.”

MarketSpace Capital is focused on ground-up developments and value-add investments through the U.S and has over $400 million of cumulative asset value through 19 investment properties over the past decade. Out of these 19 investments, MarketSpace Capital has gone full cycle and sold six of these properties.

MarketSpace Capital Co-Founder and Chairman Dr. Masaki Oishi said, “we see great value in the tokenization of commercial real estate as a vehicle for enabling liquidity on a secondary market and democratizing access to a normally elusive asset class. Between MarketSpace Capital and our co-development partners, we have a combined existing portfolio of over $1 Billion, and we look forward to working with DigiShares, one of the leading providers of asset management and crowdfunding platforms for real assets and coordinating the trading of the Myra Park and future property’s digital securities through an integration with tZERO.”

Ownership interests of the Spot at Myra Park were distributed to approximately 45 accredited investors through a real estate limited partnership, which closed in May 2020 and raised approximately $6.5 million.

About MarketSpace Capital

MarketSpace Capital is a private equity real estate firm focused on ground-up developments and value-add investments throughout the U.S. Through its relationships, expertise and disciplined, data-driven analysis, MarketSpace Capital’s veteran staff has completed over $1 billion in transactions and has the capability and experience required to maximize value creation through a comprehensive, programmatic, and conservative investment and asset management approach. In addition to producing consistent returns, MarketSpace Capital seeks to create positive economic impact and long-term value for its investors, the properties it invests in, and the communities in which it works.

Website: https://marketspace.capital

About DigiShares A/S

DigiShares is one of the leading providers of asset management and crowdfunding platforms for real assets, including real estate and private equity. Our solutions enable asset owners and fund managers to digitize and automate processes, to reduce administrative cost, to reduce the ticket size to fractionalize and democratize and enable retail investors to participate, and finally to provide a huge increase in liquidity through the built-in marketplace that enables shareholders to trade their assets.

Website: https://www.digishares.io

Investor Notice

Investors should note that trading securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity, which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in single security could mean lack of diversification and, consequently, higher risk. Potential investors are urged to consult a professional adviser regarding any economic, tax, legal or other consequences of trading any securities as described herein.

No Offer, Solicitation, Investment Advice or Recommendations

This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by any of the parties mentioned herein or any of its affiliates, subsidiaries, officers, directors or employees. No reference to any specific security constitutes a recommendation to buy, sell, or hold that security or any other security. Nothing in this release shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this release constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this release should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this release, we have not taken into account the investment needs, objectives, and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this release by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.

Forward-Looking Statements

This release contains forward-looking statements. In addition, from time to time, the parties mentioned herein, their subsidiaries, or their representatives may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which is derived from currently available information. Such forward-looking statements relate to future events or future performance, including financial performance and projections; growth in revenue and earnings; and business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including, without limitation: the ability of the parties mentioned herein and their subsidiaries to change the direction; their ability to keep pace with new technology and changing market needs; and competition. These and other factors may cause actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this release and other statements made from time to time by the parties mentioned herein, their subsidiaries or their respective representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions. The Parties mentioned herein, their subsidiaries, and their representatives are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this release and other statements made from time to time by the respective parties their subsidiaries or their representatives might not occur.

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Poverty in U.S. Declined Thanks to Government Aid, Census Report Shows

The share of people living in poverty in the United States fell to a record low last year as an enormous government relief effort helped offset the worst economic contraction since the Great Depression.

In the latest and most conclusive evidence that poverty fell because of the aid, the Census Bureau reported on Tuesday that 9.1 percent of Americans were living below the poverty line last year, down from 11.8 percent in 2019. That figure — the lowest since records began in 1967, according to calculations from researchers at Columbia University — is based on a measure that accounts for the impact of government programs. The official measure of poverty, which leaves out some major aid programs, rose to 11.4 percent of the population.

The new data will almost surely feed into a debate in Washington about efforts by President Biden and congressional leaders to enact a more lasting expansion of the safety net that would extend well beyond the pandemic. Democrats’ $3.5 trillion plan, which is still taking shape, could include paid family and medical leave, government-supported child care and a permanent expansion of the Child Tax Credit.

Liberals cited the success of relief programs, which were also highlighted in an Agriculture Department report last week that showed that hunger did not rise in 2020, to argue that such policies ought to be expanded. But conservatives argue that higher federal spending is not needed and would increase the federal debt while discouraging people from working.

difficult to assess changes in health coverage last year. Census estimates conflicted with other government counts, and officials acknowledged problems with data collection during the pandemic.

federal supplement to state unemployment benefits lapsed. She fell behind on bills, setting in motion events that ultimately left her family homeless for two months this year.

New aid programs adopted this year, including the expanded Child Tax Credit, helped Ms. Long, who moved into a new home last month. She said she had noticed improvements in her children, particularly her 5-year-old son.

“It was bad, but it could have been so much worse, and we have come out the other side once again unbroken,” Ms. Long said.

By the government’s official definition, the number of people living in poverty jumped by 3.3 million in 2020, to 37.2 million, among the biggest annual increases on record. But economists have long criticized that definition, which dates to the 1960s, and said it did a particularly poor job of reflecting reality last year.

7.5 million people lost unemployment benefits this month after Congress allowed expansions of the program to lapse.

Jen Dessinger, a photographer who lives in New York City and Los Angeles, said work dried up abruptly at the start of the pandemic. A freelancer, she didn’t qualify for traditional unemployment benefits but eventually received help under a federal program created last year to help people who fell outside the regular system.

Now that program has ended in the middle of another surge in coronavirus cases. Ms. Dessinger said a single positive coronavirus case could shut down a photo shoot. “It’s made it a more desperate situation,” she said.

Democrats on Tuesday said experiences like Ms. Dessinger’s showed both the potential for government aid to protect people from financial ruin, and the need for a more expansive, permanent safety net that can support people in bad and good times.

A White House economist, Jared Bernstein, said on Tuesday that the new poverty data should encourage lawmakers to enact the $3.5 trillion Democratic measure that includes much of Mr. Biden’s economic agenda, which the administration argues will create more and better-paying jobs.

“It’s one thing to temporarily lift people out of poverty — hugely important — but you can’t stop there,” said Mr. Bernstein, a member of Mr. Biden’s Council of Economic Advisers. “We have to make sure that people don’t fall back into poverty after these temporary measures abate.”

“reckless taxing and spending spree.”

Conservative policy experts said that although some expansion of government aid was appropriate during the pandemic, those programs should be wound down, not expanded, as the economy healed.

“Policymakers did a remarkable job last March enacting CARES and other legislation, lending to businesses, providing loan forbearance, expanding the safety net,” Scott Winship, a senior fellow and the director of poverty studies at the American Enterprise Institute, a conservative group, wrote in reaction to the data, referring to an early pandemic aid bill, which included around $2 trillion in spending. “But we should have pivoted to other priorities thereafter.”

Jason DeParle and Margot Sanger-Katz contributed reporting.

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August Jobs Report is Concerning News for Fed

Disappointing August jobs numbers intensified the economic uncertainty caused by the Delta variant, putting pressure on the Federal Reserve as it considers when to reduce its policy support and on the White House as it tries to get more Americans vaccinated.

Fed officials and President Biden had been looking for continued improvement in the job market, but the Labor Department reported on Friday that employers added just 235,000 jobs in August — far fewer than projected and a sign that the ongoing coronavirus surge may be slowing hiring.

“There’s no question that the Delta variant is why today’s job report isn’t stronger,” Mr. Biden said in remarks at the White House. “I know people were looking, and I was hoping, for a higher number.”

A one-month slowdown is probably not enough to upend the Fed’s policy plans, but it does inject a dose of caution. It also will ramp up scrutiny of upcoming data as the central bank debates when to take its first steps toward a more normal policy setting by slowing purchases of government-backed bonds.

speech last week that as of the central bank’s July meeting, he and most of his colleagues thought they could start reducing the pace of asset purchases this year if the economy performed as they expected.

sharp pullback in hotel and restaurant hiring, which tends to be particularly sensitive to virus outbreaks. The participation rate, a closely watched metric that gauges what share of the population is working or looking, stagnated.

But there were other signs that underlying demand for workers remained strong. Wages continued to rise briskly, suggesting that employers were still paying up to lure people into work. Over the last three months, job gains have averaged 750,000, which is a strong showing. And the unemployment rate continued to decline in spite of the weakness in August, slipping to 5.2 percent.

4.2 percent in the year through July — well above the 2 percent average that officials aim to achieve over time.

Officials widely expect those price gains to slow as the economy returns to normal and supply chain snarls clear up. But they are monitoring consumer inflation expectations and wages keenly: Prices could keep going up quickly if shoppers begin to accept higher prices and workers come to demand more pay.

That’s why robust wage gains in the August report stuck out to some economists. Average hourly earnings climbed by 0.6 percent from July to August, more than the 0.3 percent economists in a Bloomberg survey had forecast. Over the past year, they were up 4.3 percent, exceeding the expected 3.9 percent.

The fresh data put the Fed “in an uncomfortable position — with the slowdown in the real economy and employment growth accompanied by signs of even more upward pressure on wages and prices,” wrote Paul Ashworth, the chief North America economist at Capital Economics.

referred to that consideration in a footnote to last week’s speech.

“Today we see little evidence of wage increases that might threaten excessive inflation,” he said.

Plus, it is unclear whether pay gains will remain robust as workers return. While it is hard to gauge how much enhanced unemployment benefits discouraged workers from taking jobs, and early evidence suggests that the effect was limited, a few companies have signaled that labor supply has been improving as they sunset.

Other trends — the end of summer and the resumption of in-person school and day care — could allow parents who have been on the sidelines to return to the job search, though that might be foiled if Delta keeps students at home.

“There’s still so much disruption, it’s hard for businesses and workers to make plans and move forward when you don’t know what’s coming around the next bend,” said Julia Coronado, the founder of MacroPolicy Perspectives, adding that this is a moment of “delicate transition.”

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Airlines See a Surge in Domestic Flights, Beating Forecasts

The aviation recovery is gaining momentum.

A summer travel bonanza is exceeding expectations, helping airlines earn profits again and brightening the outlook for the rest of the year. It’s a welcome relief for a battered industry and a sign that the rebound that began this spring appears to be here to stay.

The economic upturn, aggressive cost-cutting and an enormous federal stimulus that paid many salaries have helped to improve the finances of the largest carriers, which took on vast amounts of debt and lost billions of dollars during the pandemic.

This month, consumer spending on airlines briefly exceeded 2019 levels on a weekly basis for the first time since the pandemic began, according to Facteus, a research firm that monitors millions of online payments. Ticket prices have rebounded, too: In June, fares were down only 1 percent from the same month in 2019, according to the Adobe Digital Economy Index, which is similarly based on website visits and transactions.

And on Sunday, the Transportation Security Administration screened more than 2.2 million travelers at its airport checkpoints, the most in one day since the start of the pandemic.

planned to hire hundreds of flight attendants and bring back thousands who volunteered for extended leaves during the pandemic.

increase its minimum wage to $15 an hour to retain and attract workers, while Delta is in the middle of hiring thousands of employees. United last month announced plans to buy 270 new planes in the coming years, the largest airplane order in its history and one that would create thousands of jobs nationwide.

Southwest on Thursday reported a profit of $348 million for the quarter that ended in June, its second profitable quarter since the pandemic began. American reported a $19 million profit over the same period, while Delta last week reported a $652 million profit, a pandemic first for each airline. United this week reported a loss, but projected a return to profitability in the third quarter as its business improved faster than forecast.

The financial turnaround has been buoyed by an infusion of $54 billion of federal aid to pay employee salaries over the past year and a half. Without those payments, none of the major airlines would have been able to report profits for the quarter that ended in June. The aid precludes the companies from paying dividends through September 2022.

Each airline offered a hopeful outlook for the current quarter. American projected that passenger capacity would be down only 15 to 20 percent from the third quarter of 2019, while United projected a 26 percent decline and Delta forecast a 28 to 30 percent drop. Southwest, which differs from the other three large carriers in that it operates few international flights, said it expected capacity to be comparable to the third quarter of 2019.

“We are just really excited about the momentum we’re seeing in the numbers,” Doug Parker, American’s chief executive, told analysts after the company delivered its earnings report.

The financial results and forecasts for the rest of the summer are the latest sign of strength in a comeback that has been building for months. But the airlines have vast amounts of debt to repay — American, the most indebted carrier, announced a plan on Thursday to pay down $15 billion by the end of 2025 — and the rebound hasn’t been free of setbacks.

recent poll from the Global Business Travel Association, an industry association. If other companies follow Apple’s lead in delaying a return to the office, though, the corporate travel recovery could be held back.

Delta said it expected domestic business trips to recover to about 60 percent of 2019 levels by September, up from 40 percent in June. Those figures roughly align with estimates from United.

“The demand is recovering even faster than we had hoped domestically,” Mr. Kirby of United said on Wednesday.

International travel has slowly started to recover, too, as more countries, particularly in Europe, open up to American travelers who can provide proof of vaccination or a negative coronavirus test. But airlines are lobbying the Biden administration to loosen restrictions in kind, which, they say, will allow the recovery to accelerate.

“I think the surge is coming, and just as we’ve seen it on the consumer side, we’re getting ready for it on the business side,” Mr. Bastian of Delta said last week. “Once you open businesses, offices, and you get international markets opened, I think it’s going to be a very good run over the next 12 to 24 months.”

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June Jobs Report Shows an 850,000 Gain, Better Than Expected

Anxieties over a lag in hiring lifted on Friday as the government reported that employers added 850,000 workers in June, the largest monthly gain since last summer.

Wages jumped for the third month in a row, a sign that employers are trying to attract applicants with higher pay and that workers are gaining bargaining power.

Rising Covid-19 vaccination rates and a growing appetite for travel, dining out, celebrations and entertainment gave a particular boost to leisure and hospitality businesses. The biggest chunk of June’s gains — 343,000 — could be found there.

accelerated rate of early retirements means that some of those workers will never come back.

“Today there are more job openings than before the pandemic and fewer people in the labor force,” said Becky Frankiewicz, president of the staffing company ManpowerGroup North America. “The single defining challenge for employers is enticing American workers back to the work force.”

The report follows several promising economic developments this week. Consumer confidence, which surged in June, is at its highest point since the pandemic’s onset last year. Stocks closed out the first half of the year at record highs. And the Congressional Budget Office said Thursday that the economy was on track to recover all the jobs lost in the pandemic by the middle of next year.

But economists cautioned against trying to divine the complex currents crisscrossing the labor market from a single month’s data, particularly given how much the pandemic has disrupted employment patterns.

may reflect smaller-than-expected layoffs rather than big gains. Over a longer period, employment in both public and private education remains significantly below its prepandemic level.

remarks from the White House.

The June figures are unlikely to allay the concerns of small-business owners and managers who complain about the difficulty finding workers. Nearly half report that they cannot fill openings, according to a recent survey by the National Federation of Independent Business.

The competition for workers has pushed up wages. Average hourly earnings climbed 3.6 percent in the year through June and 0.3 percent over the month. Low-wage workers seem to be the biggest beneficiaries of the bump in pay.

Ms. Frankiewicz of ManpowerGroup said the rise of “superemployers” like Amazon and Walmart was making it even more difficult for small and medium-size businesses to attract workers. In the summer of 2019, the top 25 employers had 10 percent of the open jobs, she said, while “today 10 employers do.”

moved to end distribution of federal pandemic-related jobless benefits even though they are funded until September, arguing that the assistance — including a $300 weekly supplement — was discouraging people from returning to work.

The latest jobs report did not reflect the cutoff’s impact because the government surveys were completed before any states ended benefits.

Staffing firms said they had not seen a pickup in job searches or hiring in states that have since withdrawn from the federal jobless programs.

Indeed surveyed 5,000 people in and out of the labor force and found that child care responsibilities, health concerns, vaccination rates and a financial cushion — from savings or public assistance — had all affected the number looking for work. Many employers are desperate to hire, but only 10 percent of workers surveyed said they were urgently seeking a job.

And even among that group, 20 percent said they didn’t want to take a position immediately.

Aside from ever-present concerns about pay and benefits, workers are particularly interested in jobs that allow them to work remotely at least some of the time. In a survey of more than 1,200 people by the staffing company Randstad, roughly half said they preferred a flexible work arrangement that didn’t require them to be on site full time.

Some employers are getting creative with work arrangements in response, said Karen Fichuk, chief executive of Randstad North America. One employer changed the standard shift to match the bus schedule so employees could get to work more easily. Others adjusted hours to make it easier for parents with child care demands.

Health and safety concerns are also on the minds of workers whose jobs require face-to-face interactions, the survey found.

Black and Hispanic workers, who were disproportionately affected by the coronavirus and by job losses, are having trouble regaining their foothold. “The Black unemployment rate is still exceptionally high,” at 9.2 percent compared with 5.2 percent for white workers, said Michelle Holder, an economist at John Jay College in New York.

One factor in the elevated Black jobless rate is that the ranks of Black workers employed or seeking jobs grew sharply last month. But participation in the labor force remains lower than it was before the pandemic among all major racial and ethnic groups.

Professor Holder said some people were reluctant to rejoin the labor force because of the quality and the pay of the work available.

“We don’t have a shortage of people to work,” she said. “What we don’t have are decent jobs.”

Jeanna Smialek and Ben Casselman contributed reporting.

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Fox News to Replay Prime-Time Shows on Streaming Platform

Fox News entered the streaming video market in November 2018 with Fox Nation, a digital subscription service that now encompasses hundreds of hours of original programming including political commentary, documentaries and travel specials like “Castles USA,” in which the host Jeanine Pirro tours castles around the country.

Until now, the network had resisted rebroadcasting its marquee prime-time shows on the streaming service. That is set to change next week, in a significant shift in digital strategy for the Rupert Murdoch-owned channel.

Starting June 2, episodes of “Tucker Carlson Tonight,” “Hannity” and “The Ingraham Angle” will be available on demand on Fox Nation the day after they are shown live on cable. The shift “will add incredible value for subscribers,” Fox Nation’s president, Jason Klarman, said in a statement on Tuesday.

Fox News had reasons to initially avoid duplicating its traditional TV programming on Fox Nation. The channel earns significant revenue from cable distributors that pay to carry Fox News. And the network has the largest total weeknight audience in cable news; viewers who switch over to watch the programs on Fox Nation will not be counted by Nielsen.

Other networks, though, have seen benefits from making their cable programs available in digital venues. The shows can attract new subscribers and widen their viewership to the younger audiences that prefer streaming services.

A monthly subscription to Fox Nation costs $6. The network has declined to share its total number of subscribers. Lachlan Murdoch, the executive chairman of the Fox Corporation, said on a recent earnings call that the first quarter of 2021 had generated Fox Nation’s “highest number of customer acquisitions since launch.”

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Will NFTs Transform Tattoos Into Bankable Art?

Top tattoo artists are highly coveted, their work displayed on some of the world’s most visible real estate: LeBron James’s shoulders, Scarlett Johansson’s back, Post Malone’s face.

But you can’t hang tattoos in a gallery, or auction them at Sotheby’s. They live and (unless previously removed) die with their owner. It also means that the most in-demand tattoo artists are still paid by the hour, just as many were during their apprenticeships decorating the biceps of sailors and bikers.

Artists do not generally get paid by the hour, said Scott Campbell, 44, a Los Angeles tattoo artist who has inked Robert Downey Jr., Jennifer Aniston and Marc Jacobs. “Musicians don’t get paid by how long it takes them to create a song. You’d never go to a gallery and think, ‘How long did it take the artist to paint it? I’ll pay him for his time.’”

Mr. Cartoon) and Brian Woo (Dr. Woo), wants to change this equation.

All Our Best, where tattoo artists can offer their designs as permanent, tradable commodities in the form of NFTs.

To refresh: an NFT, which stands for non-fungible token, is basically a digital stamp of authenticity that can be bought, sold or traded like cryptocurrency on a blockchain. This is a far cry from the tattoo world, where the stars of the field see their earnings capped at around $1,000 an hour for a one- to three-hour session, even when working on Hollywood stars.

In this new marketplace, customers will be buying the exclusive rights to the design of the tattoo, rather than the tattoo itself. “I’m selling you an idea, instead of just hours of my life,” said Mr. Campbell, who has been blurring the line between tattoo and fine arts for years, showing his tattoo-inspired sculptures and paintings at galleries and art fairs. “The NFT is basically a digital baseball card.”

As a perk of ownership, buyers get a guaranteed slot with the tattoo artist — no small thing, since top tattoo artists can be nearly impossible to book for those outside the celebrity orbit.

Mr. Campbell, Mr. Cartoon, Dr. Woo, Grime, Sean from Texas and Tati Compton. Mr. Campbell plans to expand the roster, and eventually open the marketplace for any tattoo artist to sell work.

He is not the only tattoo artist to see opportunity in blockchain. An artist in Portland, Me., named Brad Wooten, for example, is selling photos of digitally designed tattoos as NFTs.

The earning potential is considerable. Prices for the initial round of NFT tattoos on All Our Best will range from $1,000 to $10,000. The blockchain technology also allows artists to make a 10 percent royalty every time a work is resold.

Clients also stand to profit if the work appreciates, unlike the current setup where “the only thing they get out of the deal is an Instagram post and some bragging rights,” Mr. Campbell said. “They actually have something that they can keep and pass onto their kids, that has a life beyond being just that thing on their arm that in 10 years is going to be sunburned and blurry anyway.”

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Apollo Co-Founder Exits After Clash Over Epstein Ties: Live Updates

give up day-to-day duties at the private equity giant, after clashing with his fellow founders over the departure of Leon Black as the firm’s chief executive.

The departure of Mr. Harris, 56, comes months after he argued that Mr. Black should step down immediately following Apollo’s investigation into his ties to Jeffrey Epstein, the late financier and registered sex offender. Mr. Harris was overruled by the other two members of Apollo’s executive committee, the firm’s other founders, Mr. Black and Marc Rowan.

Mr. Harris served as one of Apollo’s most visible and hands-on managers, but instead of succeeding Mr. Black as chief executive, he lost out to Mr. Rowan, who had announced last year that he was taking a “semi-sabbatical” from the firm.

In March, however, Mr. Black — who had agreed to step down as chief executive in July, while remaining chairman — unexpectedly gave up all his duties. Mr. Black, at the time, cited health reasons and continuing media coverage of his dealings with Mr. Epstein.

But by then, Mr. Harris was seen as having less of a leadership role at the firm. It was Mr. Rowan who engineered Apollo’s takeover of Athene, a big insurance and lending affiliate that is expected to bolster the firm’s investing power.

Mr. Harris was not on Apollo’s quarterly earnings call with analysts earlier this month, an absence noted by a participant on the call, which fueled speculation that his role at Apollo had diminished since Mr. Rowan’s ascension.

Mr. Harris had wanted Mr. Black to make a complete break with Apollo after a law firm hired by Apollo’s board had found Mr. Black paid $158 million in fees to Mr. Epstein and lent him another $30 million in recent years. Mr. Harris was concerned that institutional investors in Apollo funds might be troubled by the law firm’s findings, even though the report concluded Mr. Black had paid Mr. Epstein for legitimate tax planning advice and had done nothing improper.

Apollo’s stock, which had lagged its competitors while the law firm investigated the matter, has risen about 20 percent since Mr. Black said he was resigning as chairman.

The board of Apollo hired the outside law firm to conduct review following a report in October in The New York Times of Mr. Black’s business and social dealings with Mr. Epstein, who died in federal custody in August 2019 while awaiting trial on sex trafficking charges.

Mr. Harris will officially step down after Apollo completes the Athene deal, which is expected to be completed early next year. He will remain a member of the firm’s board and its executive committee. Mr. Harris, like Mr. Black, is one of Apollo’s largest shareholders.

He is expected to focus on an array of other business interests, including his co-ownership of several professional sports franchises — including the Philadelphia 76ers basketball team and the New Jersey Devils hockey team — and his family office. He is also expected to focus more on philanthropy.

“I have become increasingly involved in these areas and knew that one day they would become my primary pursuit,” Mr. Harris wrote in an internal memorandum reviewed by The Times.

Mr. Harris, whose net worth is estimated at just of $5 billion, recently bought a $32 million mansion in Miami.

Stocks on Wall Street edged higher on Thursday, rebounding slightly from three consecutive days of selling.

The S&P 500 rose 0.3 percent in early trading. The index had dropped 1.4 percent through the close on Wednesday, after falling by the same amount the week before.

Concerns about rapid economic growth fueling inflation, as well as rising coronavirus cases in some parts of the world, have undermined recent optimism about the global economic recovery from the pandemic.

On Wednesday, minutes of the latest Federal Reserve policy meeting showed several officials thought that “at some point in upcoming meetings” they could begin to discuss tapering the bank’s bond-buying program. Investors have speculated the central bank would have to do so as price increases accelerated. The same day, data showed Britain’s annual inflation rate doubled to 1.5 percent in April.

European stock indexes were higher on Thursday. The Stoxx Europe 600 rose 0.8 percent as gains in health care and industrial stocks outweighed a fall in energy company shares. The FTSE 100 in Britain rose about half a percent.

Initial claims for state jobless benefits fell again last week, continuing a fairly steady decline since the start of the year, the Labor Department reported Thursday.

The weekly figure was slightly under 455,000, a decline of 37,000 from the previous week and the lowest weekly total since before the pandemic. New claims for Pandemic Unemployment Assistance, a federally funded program for jobless freelancers, gig workers and others who do not ordinarily qualify for state benefits, totaled 95,000. The figures are not seasonally adjusted.

New state claims remain high by historical levels but are less than half the level recorded as recently as early January. The benefit filings, something of a proxy for layoffs, have receded as business return to fuller operations, particularly in hard-hit industries like leisure and hospitality.

More than 20 Republican-led states have said they will abandon federally funded emergency benefit programs in June or early July, saying the income is deterring recipients from seeking work as some employers complain of trouble filling jobs. Those programs include not only Pandemic Unemployment Assistance but also extended benefits for the long-term unemployed.

Ford’s new electric F-150, called the Lightning, is expected to go on sale next spring.
Credit…Ford

Ford unveiled an electric version of its popular F-150 pickup truck on Wednesday called the Lightning, signaling a shift in the auto industry’s electric vehicle push, which so far has been aimed at niche markets.

With an electric motor mounted on each of its axles, the vehicle will offer more torque — in effect, faster acceleration — than any previous F-150 and will be capable of towing up to 10,000 pounds, Neal E. Boudette reports for The New York Times. Its battery pack can put out 9.6 kilowatts of energy, making it able to power a home for about three days during an outage, according to Ford.

For contractors and other commercial truck users, the Lightning will be able to power electric saws, tools and lighting, potentially replacing or reducing the need for generators at work sites. It has up to 11 power outlets.

The truck is expected to go on sale next spring, with a starting price of $39,974 for a model that can travel 230 miles on a full charge. A version with a range of 300 miles starts at $59,974.

The truck’s base price is a few thousand dollars less than that of a Tesla Model 3 and even that of the company’s own Mustang Mach-E sport-utility vehicle. The total cost is lower still because buyers of Ford’s electric vehicles still qualify for the $7,500 federal tax credit available for the purchase of E.V.s. Some states such as California, New Jersey and New York offer additional rebates worth as much as $5,000.

Adam Aron, chief executive of AMC, said on the most recent earnings call that the chain had been “within months or weeks of running out of cash” multiple times during the pandemic.
Credit…Philip Cheung for The New York Times

The Alamo Drafthouse theater chain furloughed its 3,100 employees during the pandemic, declared bankruptcy in December, shut down three theaters as part of its restructuring plan and halted a planned project in Orlando. AMC Entertainment’s chief executive, Adam Aron, said this month that the chain had been “within months or weeks of running out of cash five different times between April 2020 and January 2021.”

Now, theaters are trying to assure people that the troubles are over, Nicole Sperling reports for The New York Times. That movies are coming back, with a vengeance, and moviegoing should soon return to normal.

“It’s magic, what we do,” Tim League, Alamo’s founder, said in a phone interview. He acknowledged that his company got dangerously close to running out of money in December before filing for Chapter 11 bankruptcy protection. “We’re in the business of creating the best possible viewing experience — to get lost in an amazing story and have heightened emotions around it. It’s amazing when it’s done right, and we’re in the business of doing it right. I know that people are craving a return to any kind of out-of-home experience, being with people and having a sense of rejoining the community.”

Some 70 percent of moviegoers are comfortable to returning to the theater, according to the exhibition research firm National Research Group. The box office for April hit $190 million, up 300 percent since February. That’s a welcome relief to the South African director Neill Blomkamp, whose new horror film “Demonic” from the indie outfit IFC will debut only in theaters at the end of August.

“This brings me joy,” he said in a video message. “I want people to be terrified in a darkened theater.”

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