Executive Leadership Briefing

Economy adds just 210,000 jobs in November, far below estimates - December 3, 2021


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The U.S. economy added merely 210,000 jobs in November, and the unemployment rate fell to 4.2% from 4.6%, according to the Labor Department. Economists polled by Bloomberg expected a gain of nearly 550,000 jobs and the unemployment rate to fall slightly to 4.5%. Leisure and hospitality saw a gain of just 23,000 after being a leading job creator for much of the economic recovery since the start of the pandemic.
Private payrolls post better-than-expected growth of 534,000 in November, ADP says - CNBC
Google said Thursday it will not be requiring its employees to return to the office on Jan. 10 as previously announced but is instead indefinitely pushing back the January plan amid growing concerns over the omicron variant. The company’s security VP announced the delay in an email, saying Google will wait until the new year to assess when U.S. offices can safely return to a “stable, long-term working environment."
Omicron may throw wrench in companies' plans to return to office - Reuters
The Future Of Work From Home - Newsy
@JohnMarionjr: I’ve been grappling with how we can hold effective meetings in a hybrid format where some are gathering in-person and others are online. It looks like some tech help might be on the way, though I remain skeptical.
Congress passed a short-term government funding bill on Thursday to prevent a government shutdown before the imminent fiscal deadline. The Senate voted 69-28 to advance the continuing resolution after the bill was approved by the House. It will now be sent to Biden to sign to keep the government funded until Feb. 18. The successful votes ended a brief tense period that would have brought Washington to a halt Saturday.
More than $87 billion in federal benefits siphoned from unemployment system, says Labor Department - CNBC
@RepAdamSchiff: The House just averted a government shutdown. This continuing resolution will ensure that we uphold our promise to workers, families, veterans, and seniors. And it will allow us to stay focused on passing critical legislation like expanding child care and improving health care.
The Transportation Security Administration issued two new security directives Thursday that require all U.S. freight and passenger rail systems to report certain cybersecurity incidents to the Department of Homeland Security within 24 hours. The orders will affect roughly 90% of U.S. passenger rail systems and 80% of freight rail systems that are considered “high risk.”
U.S. imposes first cybersecurity rules for rail transit, despite industry pushback - CBS News
Big Tech Privacy Moves Spur Companies to Amass Customer Data - The Wall Street Journal
@ericgeller: The new rail rules don't require companies to patch any vulnerabilities they discover. A sr DHS official said this was b/c, unlike w/ pipelines, TSA didn't already publish cyber guidance for rail operators. Initial directives thus focused on “baseline requirements."
Although the retail industry is no stranger to theft and organized crime, a spate of store heists and organized mobs are hitting stores such as Nordstrom, Best Buy, Home Depot and Louis Vuitton much more often this year, shaking the retail industry and creating new challenges for law enforcement. Large-scale “smash-and-grabs” have been on the rise this year, but experts are predicting they hit a critical mass in late November when stores were piled high with holiday inventory.
Psaki says root cause of organized retail crime is the COVID-19 pandemic - Fox Business
@AGAshleyMoody: Lawlessness and out-of-control mobs are plaguing retailers in major cities outside of FL. We will not permit these types of crime sprees here. To prevent organized retail theft, today I launched FORCE—empowering investigators and prosecutors to stop ORT.
"Renewed U.S. Jobs Strength Confronts Fresh Challenge in Omicron" - Bloomberg / Source: Bureau of Labor Statistics, Bloomberg
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