The U.S. economy added far fewer jobs than expected in December just as the nation was grappling with a massive surge in Covid cases, the Labor Department said this morning. Nonfarm payrolls grew by 199,000, while the unemployment rate fell to 3.9%, according to Bureau of Labor Statistics data. That decline came even though the labor force participation rate was unchanged at 61.9% amid an ongoing labor shortage in the U.S.
The current wave of pseudo-media consolidation is picking up speed following Vox's merger with Group Nine and BuzzFeed's purchase of Complex. The latest deal will see The New York Times (NYT) scoop up sports subscription site The Athletic for $550M, with the all-cash transaction expected to close in the first quarter. Also don't forget about Dotdash's acquisition of Meredith's National Media Group in October, as well as Axel Springer's purchase of Politico.
Uranium prices have jumped this week as violent protests in Kazakhstan stoke concerns about security of supply for the radioactive material used to fuel nuclear reactors. The metal was resurgent last year, rising by more than 30 per cent as investors bet nuclear energy will be a key part of the move away from fossil fuels and the electrification of the global economy.