Jan 2, 2018

Cities with low unemployment seeing wage growth

Commuters walk from the G train line to the E and M lines at the Court Square subway station in Queens. Photo: Victor J. Blue / Bloomberg via Getty Images

Cities with some of the lowest unemployment rates are also now experiencing some of the greatest wage growth in the country, the WSJ reports. Employers are raising wages to attract employees from competitors, like in Minneapolis, Denver, and Fort Myers, where unemployment rate are at or near 3%.

Why it matters: It's a phenomenon that makes sense and is expected in theory, "but one that's been largely absent until now in the upturn that began more than eight years ago," WSJ's Shayndi Raice and Eric Morath write.

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  1. Global: Total confirmed cases as of 6 p.m. ET: 5,653,821 — Total deaths: 353,414 — Total recoveries — 2,325,989Map.
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  3. Public health: Fauci says data is "really quite evident" against hydroxychloroquine — Nearly half of Americans say someone in their household has delayed medical care.
  4. Business: African American business owners have seen less relief from PPP, Goldman Sachs saysDisney plans phased reopening on July 11Author Ann Patchett says bookstores are innovating to stay connected with customers.
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Updated 40 mins ago - Politics & Policy

Trump administration to eliminate nuclear waivers tied to Iran deal

Pompeo testifies on Iran in February. Photo: Mark Wilson/Getty Images

The U.S. is ending waivers that had allowed foreign companies to work at Iran's civilian nuclear facilities, Secretary of State Mike Pompeo announced on Wednesday.

Why it matters: This will eliminate most elements of U.S. sanctions relief still in place two years after President Trump withdrew from the 2015 Iran nuclear deal. Pompeo said "continued nuclear escalation" made the move necessary, but critics warn it will encourage further Iranian enrichment.

Top Senate Democrat says State Dept. is working on new Saudi arms deal

Secretary of State Mike Pompeo briefs reporters on May 20. Photo: Nicholas Kamm/pool/AFP via Getty Images

Senate Foreign Relations ranking member Bob Menendez (D-N.J.) wrote in a CNN op-ed on Wednesday that he learned that the State Department is currently working to sell thousands of additional precision-guided bombs to Saudi Arabia.

Why it matters: Democrats say that Steve Linick, the State Department inspector general who was ousted on Secretary of State Mike Pompeo's recommendation, was investigating the administration's previous effort to sell weapons to Saudi Arabia without congressional approval.