WHAT YOU NEED TO KNOW
U.S. employers added 638,000 jobs in October and unemployment fell 6.9%, from 7.9% in September. U.S. stock futures slipped Friday, marking the end of Election Day gains as traders continue to await the results of the election and coronavirus cases climb. The fresh weakness of stocks came a day after the Federal Reserve left policy unchanged, but highlighted increasing risks to the economy from the pandemic. The U.S. reported 121,888 new cases of COVID-19 Thursday – the highest single-day increase to date – taking the national total to 9.61 million.
Exit polls show a sharp split between Democratic nominee Joe Biden supporters and President Donald Trump supporters over prioritizing the economy or coronavirus and election results underscore the different views. Support for Trump increased in 2020 in many of the counties that lost lives at the highest rate to COVID-19, an NPR analysis found. Biden has currently taken the lead over Trump in the vote count in Georgia and narrowly in Pennsylvania as of Friday morning.
In Trump’s first public remarks since the late-night hours following Election Day, he claimed he would win “easily” if it were not for what he baselessly referred to as fraud by the Democrats and media. Sen. Mitt Romney shared that he believes “counting every vote is at the heart of democracy” after Trump challenged the electoral process and said the election was being stolen.
For the ride-sharing business Uber, the pandemic is still weighing heavily on its business, but a key regulatory win in California is causing shares to rise for a second straight day. Food delivery has been Uber’s lifeline, but the uptick wasn’t enough to offset decreases elsewhere – the company saw a 10% decline in overall bookings and revenue dropped 18%.
In California, Uber, Lyft and allies now set the employment terms of the gig economy they helped create, making their status independent contractors rather than employees. The measure, Proposition 22, encapsulated years of legal and legislative wrangling over the business model. Companies described the contest as a matter of ensuring flexibility for workers who want to choose when and how they work. Opponents saw it as an effort to exploit workers and avoid employee-related costs,
Europe is seeing new COVID-19 cases rise, prompting governments to roll out strict lockdown measures to slow the spread. Since the beginning of the pandemic, many epidemiologists in the U.S. have looked to Europe as sort of a harbinger of what’s to come to the U.S. Germany was hailed for its initial response to the coronavirus, but a four-week long return to strict public health measures has raised questions over its effectiveness. Having a smaller first wave meant there were likely to be more people still susceptible, making a larger second wave possible.
Fancam videos, which splice together footage of someone the TikTok community is fawning over, are flooding the platform as people express their admiration for journalists like CNN’s John King and MSNBC’s Steve Kornacki. In one, a montage of photos of Kornacki is played to “Be My Baby” by The Ronettes. An assistant professor at Columbia University who researches youth and political expression through social media said “this stanning, even sexualizing, is so much more lighthearted than just doom scrolling.”
Should we all be using ‘sniff tests’ to screen for COVID-19? – The Conversation – 11/6/2020
Writing in The Lancet with the latest app data, my colleagues and I highlight that 65% of adults who tested positive for COVID-19 reported a loss of sense of smell, with a significant proportion of them never experiencing a raised temperature, while just over 40% of people testing positive had a fever.
Will airline hubs recover from COVID-19? – McKinsey & Company – 11/5/2020
The share of connecting traffic at the global level has been falling in recent years—save for select intercontinental flows, which had been largely stable or growing before the crisis. This shrinking share can be attributed to the growth of P2P carriers, with low-cost carriers seeing a particularly significant increase in their market share (Exhibit 1).
A management professor and other business leaders share how the COVID-19 pandemic has changed employee training – Business Insider – 11/6/2020
“Another thing that I think we potentially underestimated at the beginning is the importance of being able to make contact,” she said. “The initial focus was more on the content itself and on creating engaging content. It turns out that networking is also particularly important, and that course participants can have a drink in the evening with someone new.”
|Dog walkers are returning to work, and it’s been a joyous — but cautious — reunion – Washington Post – 11/6/2020|
Newly homebound dog owners began walking their own pets during the day and effectively hobbled the entire industry. But as parts of Washington have reopened, dog walkers are reappearing on the city’s sidewalks and walking trails. Reunions between human and canine have been joyous — and the business has changed in ways that have forced both participants to adjust.
Spread of coronavirus in mink hits ‘scary buttons’ but experts urge calm – STAT – 11/6/2020
“This hits all the scary buttons,” noted Carl Bergstrom, an evolutionary biologist at the University of Washington. But Bergstrom and others argued that while the virus’s penchant for infecting mink bears watching, it isn’t likely to lead to a nightmare strain that is more effective at infecting people than the current human virus.
WHAT INFLUENCERS ARE SAYING
WFAA @wfaa 6 Nov Eight months after the coronavirus pandemic flattened the economy, weekly jobless claims in the U.S. still point to a stream of layoffs.
FinancialXpress @FinancialXpress 6 Nov #Coronavirus impact on #employees: The survey has shown that increasing workload is equally a problem for employees working from home and those working from office
NPR @NPR 5 Nov Women hold the majority of jobs in clothing and department stores and gift and souvenir shops. But the coronavirus crisis has shuttered thousands of stores — leaving them jobless.Now, nearly 400,000 lost retail jobs have yet to recover.
Andrew Stockey @astockeyWTAE 5 Nov ESPN lost a massive amount of its programming this year as the shutdown related to the coronavirus crisis truncated its lineup of NBA, Major League Baseball and other sports.
Michael McCarthy @MMcCarthyREV 5 Nov Some good news for sports media industry. On the same day ESPN announced the worst job cuts in its history, @TheAthletic told staffers it’s rolling back coronavirus-driven pay cuts that were supposed to last through 2020.@byajperez with the story here
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