Jobless black people are taking full-time work at a higher rate than unemployed whites, amid a more favorable economy for a population whose prospects have historically been dimmer than for other races.
Why it matters: The data, reflected in the chart above, suggest a greater willingness by jobless black people to accept relatively low wages, while many whites continue to sit out the sizzling economy.
CEO Evan Spiegel has given Snap Inc. the directive of achieving full-year profitability in 2019 and has refocused the company around a new set of strategic goals, according to a 15-page memo sent to employees last week," Cheddar's Alex Heath reports:
Spiegel admits Snapchat "rushed our redesign, solving one problem but creating many others. ... In our excitement to innovate and bring many new products into the world, we have lost the core of what made Snapchat the fastest way to communicate."
Why it matters: "Spiegel’s memo ... surfaces at a time when the company’s stock is trading at all-time lows."
The two-year Treasury yield is spiking to levels not seen since before 2008, and U.S. 10-year and 30-year Treasury yields are hitting levels not seen in more than five years, having climbed steadily since September.
Why it matters: The second-longest economic expansion in U.S. history (and longest job-market expansion) shows no signs of slowing, and that has investors driving up bond yields as the Fed continues its plan to gradually raise interest rates.
The Washington Post editorial board on Thursday urged the U.S. Senate to vote against Supreme Court nominee Brett Kavanaugh — a move the publication has not made against a high court nominee since 1987.
The details: The announcement comes ahead of a key procedural vote the Senate is set to cast Friday on Kavanaugh's nomination. The editorial board notes that Republicans have refused to properly vet Kavanaugh, including through the release of documents from his time serving in the George W. Bush White House. "The reason was not principled but political," it reads. The board also takes issue with Kavanaugh's "hyperpartisan rhetoric" against Democrats during last week's intense Senate Judiciary Committee hearing, and hoped the "FBI had been allowed to probe Kavanaugh’s credibility more fully."
McDonald's has become the minimum wage target for Senator Bernie Sanders, who is demanding the fast food chain to pay its workers $15 an hour companywide. In a letter to CEO Steve Easterbrook, Sanders wrote that such move by McDonald's "would set an example for the entire fast food industry to follow."
Why it matters: Sanders had previously called on Amazon CEO Jeff Bezos to increase the company's minimum wage, which he followed through on this week. The Vermont senator and Rep. Ro Khanna (D-Calif.) introduced the "Stop Bezos Act" last month to punish large companies whose workers depend on public assistance because of low wages.
