The number of Americans in the workforce who are over 64 years old has tripled over the past 30 years.
Why it matters: Delayed retirement is a sign of health and affluence for some and a continued life of hardship for others. As society ages and people live longer, a 21st century idea of retirement is needed, Steve Vernon of the Stanford Center on Longevity tells Axios.
In an age where “ok boomer” is a rallying cry for young people fed up with older people who don’t understand them, stereotypes abound of millennials spending money poorly.
The big picture: Labor economist Teresa Ghilarducci tells Axios that millennials don't behave differently than prior generations — they're just thrust into different circumstances. They’re less likely to be offered pensions or qualify for employer-sponsored retirement plans, so they start saving later in life and accumulate less compared to their predecessors. Two-thirds of millennials have no retirement savings at all.
More than 400 pages of internal Chinese government documents obtained by the New York Times show the origins and execution of China’s detention of as many as 1 million Uighurs, Kazakhs and other predominately Muslim minorities in the Xinjiang region.
Why it matters: This is "one of the most significant leaks of government papers from inside China’s ruling Communist Party in decades," per the Times. The documents, shared by an anonymous member of the Chinese political establishment, imply "greater discontent inside the party apparatus over the crackdown than previously known."
The Department of Agriculture will distribute the second round of aid payments for 2019 aimed at buffering the impact of President Trump's trade war with China starting next week, according to a USDA statement.
The state of play: The administration already paid farmers $6.7 billion for production in this year and $8.6 billion last year, per Politico. The earlier payment in 2019 covered half of the farmers' eligible production, and the latest round will cover an additional quarter.
The Dow Jones Industrial Average hit and closed above 28,000 for the first time ever on Friday, while the S&P 500 and Nasdaq Composite also closed at new records.
Why it matters: The 28,000 level has no relevance in and of itself, but the markets' new highs in recent weeks is a sign of investors' renewed confidence in the state of the U.S. economy.
Some of Fox News' biggest personalities expressed sympathy for former Ukraine Ambassador Marie Yovanovitch during her impeachment testimony on Friday — especially after President Trump attacked her via Twitter mid-hearing.
The state of play: Bret Baier called Trump's tweets "a turning point in this hearing," noting that Yovanovitch was "already a sympathetic witness" and that it allowed House Intelligence Chairman Adam Schiff (D-Calif.) to raise the possibility of witness tampering.
Investors took profits on Walmart's stock after its stronger-than-expected earnings report Thursday, but the outlook remains bright as the world's largest retailer again showed growth in sales as it has in every quarter for five years straight.
The big picture: "A 41% gain in e-commerce sales, up from the second-quarter’s 37%, was especially notable," WSJ's Justin Lahart writes.
