The number of people filing for U.S. unemployment benefits fell last week, remaining at historic lows as layoffs are rare and most Americans enjoy job security
‘When a prediction market or sportsbook starts to feel like a retirement strategy, we have a problem’
AI:A new survey reveals that Generation Z is increasingly turning to high-risk sports gambling and prediction markets as a desperate substitute for traditional financial stability. Faced with a darkening economic horizon, these young adults are treating volatile betting platforms as legitimate retirement strategies rather than leisure activities. This shift highlights a systemic breakdown in the American Dream, where an entire generation, driven by profound economic uncertainty, is being steered toward financial ruin by predatory industries that frame high-stakes gambling as a viable investment tool.Open
Whether framed on an office wall, collecting dust in a box or still a distant dream, the college diploma is getting a hard reappraisal. Why it matters: College was once sold as a ticket to the American dream. But students today are taking a tougher look at the college tradeoff: burdensome debt and no guarantee of a dream career — or employment at all, as AI threatens the jobs the degrees were meant to unlock. "People didn't ask whether college mattered 20 years ago," says Courtney Brown, the vice president of impact and planning at Lumina Foundation. Now, "they're asking: Are today's students going to be prepared for tomorrow's jobs? Is it really helping them out?" - Confidence in higher education slipped among both parties and all…
AI:The long-held promise that a college degree serves as a guaranteed ticket to the American Dream is collapsing as skyrocketing debt and the rapid rise of AI threaten traditional career paths. Confidence in higher education has plummeted across all demographics because students are increasingly questioning the value of expensive credentials that no longer ensure employment in an automated economy. While cultural pressures from parents and educators continue to push youth toward campus, a growing number of students are opting for vocational and trade programs to secure stable, tangible careers. As the academic establishment struggles to remain relevant, institutions are being forced to prove their worth through actual job outcomes rather than…Open
A spring surge rapidly faded as the summer brought higher prices and more uncertainty for businesses, even as they avoided layoffs.
Forecasters expected job gains for last month to be as high as 83,000.
The Dow Jones closed 1,153 points lower than it opened at, which is a 2.2% drop. The S&P 500 and the Nasdaq Composite also suffered smaller setbacks Wednesday, with the S&P dropping 1.5% and the Nasdaq falling 1.7%.
Central bankers, as a rule, try to maintain stable prices, a strong job market and a sound financial system. The AI boom is a complexifier on all three fronts. The big picture: AI is blurring the usual indicators that central bankers rely upon to set policy, a new paper from a leading international body finds, simultaneously affecting the supply and demand sides of the economy and driving both structural and cyclical change. - The upshot, per the Bank for International Settlements — the Basel, Switzerland-based central bank for central banks — is that the rules of thumb on which policymakers have long relied are all being shuffled at once. State of play: In the U.S. and other hotbeds of AI innovation, an investment boom in the near…
By Mark St. Cyr When confidence erodes, collateral suddenly matters again.
Trump's determination to find new legal justifications for his tariffs threatens to prolong the uncertainty facing the U.S. and global economies.