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The job market is changing — and so are college degrees
As adaptability becomes a key skill to navigate a job market disrupted by remote work and AI, build-your-own majors are back in a big way.
US stocks fell slightly on Thursday as Wall Street braced for today’s critical job data
• Shares of electric vehicle maker Rivian plummeted 23% after it announced plans to issue $1.5 billion in convertible notes, which could be dilutive to shareholders if converted to equity. The company already issued $1.3 billion in convertible notes in March.
• Clorox stock fell 5% after the company disclosed a cyberattack that significantly impacted production in last quarter. The company said it expects a 23-28% decline in sales as it normalizes its operations.
• First-time unemployment claims inched up to 207,000 in the week ended September 30, falling below expectations and remaining near the seven-month low. The data suggested the labor market remains tight.
What to be on the lookout for today
• The Bureau of Labor Statistics will publish the September jobs report, including the unemployment rate, giving us a closer look at the state of the labor market. In August, the unemployment rate stood at 3.8%, its highest level since February of last year. However, unemployment still remains historically low.
Is this too early to think about Labor Day 2024?
Labor Day is one of the biggest travel weekends of the year — many families want to get in one last trip before the end of summer. And while it may seem like a long way out, it's not too early to start thinking about your Labor Day 2024 plans if you want to get a good deal.
Start Checking Out Airfare Deals
Booking 11 months in advance can give you some of the lowest airfares. In many cases, airfare gets more expensive as you get closer to the date of travel, especially around holidays. Another tip is to let the deal drive the destination — the more flexible you can be with your destination, the higher the likelihood that you can find a good deal on your travel expenses.
Prepay and Save
You can also start looking out for deals and promotions on hotels or other lodging. Many hotels offer lower rates when you prepay for your stay, as well as flexible cancellation policies, which means that if you find a good deal, you can lock it in now and cancel or rebook it according to your needs over the months to come.
Here are more tips for finding the best travel deals.
Today’s top stories
Is Nike’s iconic Jordan brand losing air? The average resale premium on Nike’s most popular Jordan shoe has dropped. Is this an early sign that the brand’s popularity is waning? Read more >> Need a personal trainer? Look no further than your pocket This startup just raised $6.5 million to help give everyday people access to elite fitness coaches — gym membership, equipment, and tough love optional. Read more >> Save money on hotels with these tips Where you stay makes up a massive share of your trip expenses. Here’s what you need to know about finding deals. Read more >>Other news that caught our eye
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Weight-management drugs like Ozempic and Wegovy are making people buy less food, according to Walmart. U.S. sales for these drugs rose 300% between 2020 and 2022.
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Hyundai and Kia committed to adopting Tesla’s charging standard in the United States. The two automakers join Ford, GM, and Nissan in this move.
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Record high chicken prices are squeezing American consumers, while chicken processors, such as Tyson Foods, stand to benefit.
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LG Energy Solutions signed a $3 billion deal with Toyota to provide lithium-ion batteries for electric vehicles manufactured in the U.S.
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U.K. regulators will probe Amazon and Microsoft over their cloud businesses. The tech companies are facing an investigation for making it difficult for U.K. customers to use multiple suppliers of cloud services.
Financial planner tip of the day
"Short-term money is any money you might need in the next couple of years, such as an emergency fund (so long as you have fast access to this money), travel fund, wedding fund, or down payment savings. The priority is it is there when you need it, which is why many people use a high-yield savings account or another cash equivalent."
Brian Walsh, CFP® at SoFi