The next U.S. jobs report could be a big market-moving event.
Why it matters: The Fed wants to know if the U.S. labor market has made “substantial further progress,” the vague threshold that would give the FOMC the confidence to dial back some of its emergency bond purchase program.
Incomes got a sizable boost in July. Nominal personal income grew 1.1% to $20.67 trillion during the month, accelerating from June's 0.2% monthly rise, according to Friday’s government figures.
Federal Reserve chairman Jerome Powell gave the strongest signal yet that some pandemic-era support that's bolstered the economy and stock market might go away this year. But he stopped short of a firm commitment and timeline.
Why it matters: In a closely-watched speech, Powell was upbeat on the recovery — though he warned about the Delta variant and "harmful effects" of winding down support too soon.
Even as the Delta variant continues to spread across the U.S., America’s workforce is relatively unconcerned about its job security.
Driving the news: According to the latest Morning Consult/Axios Inequality Index survey, the share of individuals who think they might lose their jobs in the next four weeks is far lower than when the wave of COVID outbreaks hit last fall.
WeWork's OnDemand product that lets anyone book office space for an hour at a time is going international, expanding from the U.S. to the United Kingdom, Ireland, Singapore and Australia.
The big picture: The pandemic has given rise to a remote and hybrid work revolution, but that doesn't always mean working from home. WeWork is betting that "third workplaces" — like its offices around the world — will become hotspots for teleworkers.
A California judge on Friday ruled that a 2020 ballot measure exempting gig companies from providing benefits for its workers is unconstitutional, the Sacramento Bee reports.
Why it matters: California voters approved the measure last November, ensuring gig companies aren't required to make their drivers employees. The victory gave the industry a playbook for facing labor movements nationwide.
The largest U.S. labor organization on Friday elected Liz Shuler as its first female president.
The big picture: The AFL-CIO also elected Fred Redmond to serve as secretary-treasurer, making him the first Black person to hold the organization's No. 2 post.
Companies are rolling out perks at a feverish clip to lure employees.
Why it matters: The economy is roaring back. Companies are pulling out all stops to win over the workers they need to meet demand.