Plus, Russian losses raise nuclear attack concerns in Ukraine.
The US labor market is still too hot; Biden warns of the risk of nuclear "Armageddon." Tonight's Sentences was written by Jariel Arvin. Note: Sentences will be off for Indigenous Peoples Day on Monday, 10/10. We'll be back in your inbox on Tuesday. |
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Takeaways from the September jobs report |
Spencer Platt/Getty Images |
- The US jobs market remained hot in September, reinforcing chances that the Federal Reserve will continue hiking interest rates to combat record inflation. [Associated Press / Paul Wiseman]
- US employers added 263,000 jobs in September, while employment fell to 3.5 percent — a 50-year low, according to Bureau of Labor statistics released Friday. The numbers are great for workers but could push the central bank to continue aggressively hiking interest rates, which increases the risk of a recession. [Axios / Neil Irwin]
- Leisure and hospitality accounted for the most growth, with 83,000 jobs; however, there are still more than a million fewer jobs in the sector than before the pandemic. Business and professional services, as well as health care, which have returned to pre-pandemic levels, also grew in September. [Washington Post / Lauren Kaori Gurley]
- As inflation remains high, it's less likely the Federal Reserve can cool the economy without triggering an economic slowdown. [Wall Street Journal / Nick Timiraos]
- There are signs the job market is slowing. But layoffs remain low as employers seek to avoid labor shortages and the difficulty of training new employees. [Vox / Madeleine Ngo]
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Vox's Emily Stewart explains why the Federal Reserve interest rate hikes mean the economy will feel worse before it gets better. [Vox / Emily Stewart] |
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Russia's setbacks increase concerns of nuclear attacks in Ukraine |
- On Thursday, President Joe Biden said the risk of nuclear "Armageddon" is higher than at any point since the 1962 Cuban missile crisis as Russia's military underperforms in Ukraine. [AP / Aamer Madhani, Ellen Knickmeyer, and Josh Boak]
- In a speech last month announcing the illegal annexation of several regions in Ukraine, Putin threatened to use nuclear weapons. Experts worry Moscow could use tactical nuclear weapons on the battlefield since it has now claimed those regions as Russian territory. [Vox / J. Peter Scoblic]
- Meanwhile, Putin — who turned 70 on Friday — met with several leaders of former Soviet countries, as Ukrainian activists and politicians criticized him on social media. [New York Times / Valeriya Safronova and Megan Specia]
- A jailed Belarusian activist and human rights groups in Ukraine and Russia won the Nobel Peace Price Friday for documenting war crimes and abuses of power, in another sign of the world's condemnation of Putin's actions. [BBC]
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FBI agents reportedly think there's enough evidence to charge President Biden's son Hunter Biden with tax crimes and for submitting a false statement related to a gun purchase, but the decision is up to the Justice Department. [Vox / Andrew Prokop] |
- New York City Mayor Eric Adams declared a state of emergency Friday as the city struggles to house thousands of Latin American migrants bused from Texas. [NYT / Emma G. Fitzsimmons]
- Tropical Storm Julia formed over the Caribbean Friday. It could become a hurricane, bringing inland flooding to Central America by Sunday. [Weather Channel]
- The Uvalde School District suspended its entire police force Friday amid continued fallout over the response to the deadly mass shooting at Robb Elementary School in May. [Texas Tribune / Alejandro Serrano and Urial J. Garcia]
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"The labor market has been a Ferrari the last year and a half. It's slowing down but still moving very, very quickly." |
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| John Fetterman, the 6-foot-8, hoodie and cargo shorts-wearing Democratic candidate for Senate in Pennsylvania, may be the model for how progressives can win elections. He just needs to beat Dr. Oz. |
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