Walmart Cashes In on Affordability Crisis & Critics Warn Against AI Toys
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What does the latest jobs report reveal about the economy?
Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, the jobs report finally came in. Better late than never.
Then Walmart is crushing it, which is actually a bit of a warning sign for the economy. It's Friday, November 21st. Let's ride.
It's almost time to set your away message before heading home for Thanksgiving, and Slack has a few ideas to pumpkin spice it up.
How is Walmart responding to the affordability crisis?
Yesterday, our colleague Jen noticed that Slack is now suggesting punny seasonal statuses that alert your coworkers you're not at your computer because you're doing holiday things. Here are just a few of Slack's suggestions for an out-of-office message. Busy eating all things pumpkin, harvesting notifications, and my personal favorite, feasting on my backlog. Toby, which one of these are you tossing up?
I mean, if you see my status say turkey trotting to my next meeting or on a crescent roll, just know I have been kidnapped and being held against my will. Still, I'd rather use 50 cringy, maybe AI generated Slack statuses than have to use Teams even once. So we still have that going for us.
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That's usbank.com slash split card. The monthly jobs report came in yesterday, and it was a surprisingly solid one. The U.S. economy added 119,000 jobs higher than expectations and a rebound from the 4,000 jobs lost the month before. Oh, there's one thing I should mention. This was the jobs report for September when the leaves were still on the trees and your football team still had a chance of making the playoffs. Economic data releases, including this jobs report, were postponed because of the government shutdown that started October 1st. So we're just starting to get the trickle of numbers now that D.C. is open again. Wall Street and the Federal Reserve are certainly happy to have the jobs numbers finally released because they've been tasked with making high stakes decisions without key data to go off.
However, they probably won't read too much into this September report because unlike San Giovese, you don't really want your economic data to be vintage. It's nearly Thanksgiving. And this is a what have you done for me lately economy whose dynamics could have changed a lot in two months, making things even trickier. The foggy conditions from the shutdown are still lingering because of data collection issues. The Labor Department is going to lump in an October job snapshot with the November jobs report on December 16th. That date happens to be after the next Fed meeting in early December. When central bankers have to decide whether to cut interest rates again, they're not going to have any fresh jobs data to inform that choice, just the moldy leftovers.
This is like when your ex texts you right before Thanksgiving and says, hey, I got feelings for you. And you're like, this is data I needed earlier. But at this point, it's completely useless to me. It doesn't clarify anything. That being said, not only was it late, it was also a bit of a confusing jobs report if you look at the numbers themselves because it did kind of contradict claims that the labor market was softening because 119,000 jobs, that is a lot of jobs added in the month of September.
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Chapters
7 chapters
1
What does the latest jobs report reveal about the economy?
0:01–0:29
2
How is Walmart responding to the affordability crisis?
0:29–4:41
3
What concerns have been raised about AI toys for children?
4:41–6:53
4
What record growth did Amtrak report this year?
6:53–8:30
5
Why is Bath & Body Works facing challenges in the current market?
8:30–11:00
6
What are the projections for the 'Wicked: For Good' movie opening?
11:00–13:57
7
How are inflation and consumer spending affecting retail?
13:57–25:59
Speakers
2 identifiedMore from Morning Brew Daily
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