Grind for June 11th, 2018
“I am looking for a lot of men who have an infinite capacity to not know what can’t be done.”
– Henry Ford
Trump presidency continues to benefit economy
US unemployment last month dropped to 3.8% – a figure we haven’t seen since 2000 and that is tied with the lowest it has been since 1969.
“The unemployment rate…indicates a growing shortage of available labor that is encouraging employers to tap underutilized pools of workers, including those without high school diplomas,” reports the Wall Street Journal.
The unemployment rate for individuals without high school diplomas reached 5.4% in May (a 25-year low). The rate for college grads remained at about 2%.
“When employers run out of workers, that’s when people with the weakest bargaining positions get put in the driver’s seat and can negotiate for better pay and get themselves into roles,” explains Glassdoor economist Andrew Chamberlain.
The drop in unemployment coincided with an increase in the number of payrolls, which grew by 223,000 during the month of May (the average for this year is about 207,000).
Also contributing to the lower unemployment rate are e-commerce giants like Amazon and Walmart, who are struggling to fill positions as consumer demand forces them to expand.
“The last stage of the e-commerce pipeline is just getting goods to people,” notes Chamberlain.
Play It Safe
Apple insists it did not request personal information from Facebook
Facebook’s deals with Apple and other device makers included access to personal information like religion, relationship status, and political leaning, reports The New York Times.
Facebook made these deals with at least 60 device makers.
Apple’s CEO, Tim Cook, responded by saying Apple has “never been in the data business” and did not receive or request any personal information from Facebook.
“What we did was we integrated the ability to share in the operating system, make it simple to share a photo and that sort of thing,” Cook told NPR. “So it’s a convenience for the user.”
Another such “convenience” is Apple’s new Screen Time app, which is designed to inform parents about their children’s use of apps like Netflix and Snapchat.
“All of these things are great conveniences of life,” said Cook. “They change your daily life in a great way.”
Cook also spoke with NPR about President Trump’s decision to impose aluminum and steel tariffs on ally nations – a move he fears will start a trade war.
“Trade brings people closer together…and I think that’s true about countries as well,” said Cook. “It helps a set of broader issues when there’s trade going on.”
GOOD TO THE LAST DROP:
Did you know… Macaques monkeys in Japan learned to steal purses and wallets, take out the coins, and use them to buy drinks and snacks from vending machines.