6.4.2021
Good morning. It's Friday, June 4, and we're covering a looming jobs report, a reckoning in Canada, and much more. Have feedback? Let us know at [email protected]. First time reading? Sign up here. NEED TO KNOWJobs Report Due An estimated 385,000 Americans filed initial jobless claims last week, down more than 20,000 from the previous week. It marks the first time such claims have fallen below 400,000 per week since the beginning of the pandemic. The prepandemic average was around 225,000 new claims per week (see data). Roughly 15.4 million Americans are receiving some form of unemployment benefits. The number is projected to drop, with at least 25 states ending a $300-per-week unemployment boost, citing difficulty by businesses in hiring workers. When combined with regular unemployment—which varies strongly by state—benefits exceeded an hourly equivalent wage of $15 on average. The May jobs report is due this morning. Analysts estimate around 637,000 new jobs were created last month, with unemployment dropping from 6.1% to 5.9%. Payroll processing firm ADP estimates employers hired 970,000 workers in May, the biggest gain since last June. The April jobs report showed just 266,000 jobs added, far below expectations of 1 million. Mass Graves in CanadaThe Canadian government is facing calls to search the country's former network of residential schools for evidence of mass graves. The mounting pressure follows the discovery of at least 215 First Nations children buried under the grounds of the Kamloops Indian Residential School in western Canada. The country's residential school system was a government-run network of institutions meant to aggressively assimilate children of Indigenous communities—now referred to as the First Nations—into Canadian culture. Former attendees long accused school officials of abuse and neglect, often which led to the deaths of children who had been removed from their families. Between 3,000 and 6,000 children are believed to have died at the schools over the years, with officials omitting their deaths from the official record and allegedly disposing of bodies in unmarked mass graves. About 60% of the schools were operated by the Catholic Church, with the last shuttered in 1996. Read more about the Kamloops discovery here. California DroughtOfficials in California are warning this year is shaping up to be one of the driest yet, with possible ripple effects impacting agriculture, fisheries, power production, and other industries. Monitors report the state's 1,500 reservoirs have water levels 50% lower than the historical average. A quarter of the state is in extreme drought (see map); 95% of the state is under severe drought or worse. 2020 saw the third-lowest level of precipitation on record, and the conditions are likely to exacerbate the state's wildfire season, which typically starts mid-summer. Hydroelectric power, which relies on sufficient water reservoirs, makes up 11% of the state's power mix. Officials worry some plants may be forced offline during the hottest part of the summer, leading to rolling blackouts. The broader US southwest is believed to be in the grips of a megadrought, fueled by a long-lasting La Niña weather pattern (see 101), weak summer rains, and longer-term climate change effects. Trust in media is at an all-time low. Help spread the word about 1440. HENRY?!No, not Henry, HENRY! “High Earner, Not Rich Yet.” And you may be one, regardless of what your name actually is. Despite earning an income, are you struggling to amass any meaningful nest egg for the future? Well, our friends at The Motley Fool can help. Since 1993, they’ve provided investment pick helping members build the financial future they envision for themselves. And to kick-start your 2021 financial goals, they’re offering five of their favorite stock picks for free. Like when they recommended Amazon at $15.31/share (now up 21,187%) or Netflix at $1.85/share (now up 26,937%) You may be a HENRY, but the key word is “Yet.” You can do it, and The Motley Fool can help. Get five free stock picks (all priced under $50), in their "5 Growth Stocks Under $49" report. Check it out now. Returns as of 5/27/2021 Please support our sponsors! IN THE KNOWSports, Entertainment, & CultureBrought to you by Verb Energy > F. Lee Bailey, celebrity attorney who defended OJ Simpson, Dr. Sam Sheppard, and Patricia Hearst, dies at 87 (More) > 2021 Cannes Film Festival (July 6-17) announces its official selection lineup; Jodie Foster to receive honorary Palme d’Or for career achievement (More) > Phoenix Suns knock defending champs Los Angeles Lakers out of playoffs (More) | United States Football League to return in spring 2022 after 36-year hiatus; first season will include several of the original USFL franchises (More) From our partners: Stay energized on-the-go. Verb Energy's pocket-sized bars contain as much caffeine as a shot of espresso (and are much more delicious). Grab one when that 2 pm slump rolls around—receive four bars for free (just pay $0.95 shipping) when you use code 1440. Science & Technology> US Justice Department to raise investigations of ransomware attacks to the same priority level as terrorism; move follows a wave of crippling hacks, including against Colonial Pipeline and meat-producing giant JBS (More) > Ancient shark populations experienced a dramatic die-off roughly 19 million years ago, ocean sediment analysis reveals; cause of mass extinction currently unknown (More) > Study finds cancer stem cells in the gut secrete molecules that promote mutations in neighboring normal cells, accelerating the spread of cancer-causing mutations (More) Business & Markets> US stock markets slide (S&P 500 -0.4%, Dow -0.1%, Nasdaq -1.0%) as investors await release of May jobs report this morning (More) | "Meme stock" AMC Theatres raises $571M in share sale, company trades down 18% (More) > United Airlines to purchase 15 ultrafast planes from startup Boom Supersonic; planes are expected to cut flight times in half but are not projected to be commercially viable until 2029 (More) > Bitcoin 2021—world’s largest cryptocurrency conference—kicks off in Miami’s Wynwood neighborhood (More) Politics & World Affairs> US COVID-19 cases drop to 15,000 per day, the lowest since last March; average daily deaths remain above 530 per day, totaling 596,434 (More) | Roughly 60% of Americans over 12, and 63% of those over 18, have received at least one vaccine dose (More) > President Joe Biden signs executive order barring American investment in 59 Chinese companies linked to the country's military and surveillance operations (More) | Former Secretary of State Mike Pompeo accuses National Institutes of Health of interfering with State Department probe of coronavirus origins (More) > South Carolina couple charged with four murders, suspected in a fifth, in multi-state crime spree (More) IN-DEPTHThe First Wave at Omaha BeachAtlantic | SLA Marshall. (From 1960) Sunday marks the 77th anniversary of D-Day—read this gripping account of Allied troops landing on the shore of Normandy. (Read, $$) Dawkins is WrongTortoise | Simon Barnes. The parent of a child with Down syndrome takes aim at one of biologist Richard Dawkins' recent controversial statements. (Read) The mRNA RevolutionWired UK | Stephen Buranyi. The coronavirus was the coming out party for a vaccine technology decades in the making. (Read) Tiananmen's Tank ManCNN | Kyle Almond, Jeff Widener. On the 32nd anniversary of the Tiananmen Square massacre, read the story behind the iconic "Tank Man" photo. (Read) INVESTIN' ON A BUDGETIn partnership with The Motley Fool Breaking into the investment world can be a daunting task. With some of the most recognizable companies trading at over $500 a share, it’s hard to decide what to invest in when you don’t have a massive budget. But thankfully, The Motley Fool offers stock recommendations for any budget. Today, they’re giving away their "5 Growth Stocks Under $49" for free. Check it out! Please support our sponsors! ETCETERAOfficials say UFOs probably aren't aliens—but don't know what they are. The best places to raise a family. Get vaccinated, win a custom rifle. Support our team and receive our daily emails without advertising interruptions?! For less than the price of a cup of coffee per month, that sounds like a deal to us. Sign up for 1440 Premium today. The world's most photogenic gardens. Does pupil size correlate with intelligence? Kangaroo mom among burned trees earns best nature photo. NASA to launch baby squids into space. How puppies connect with humans from birth. Clickbait: Artist sells an invisible sculpture for $18K. Historybook: US Congress passes 19th Amendment, granting suffrage to women (1919); Battle of Midway starts (1942); HBD Angelina Jolie (1975); Hundreds killed at Tiananmen Square protests (1989); RIP basketball coaching legend John Wooden (2010). "Make each day your masterpiece." - John Wooden Enjoy reading? Forward this email to a friend.Why 1440? The printing press was invented in the year 1440, spreading knowledge to the masses and changing the course of history. Guess what else? There are 1,440 minutes in a day and every one is precious. That’s why we scour hundreds of sources every day to provide a concise, comprehensive, and objective view of what's happening in the world. Reader feedback is a gift—shoot us a note at [email protected]. Interested in advertising to smart readers like you? Apply here! |
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