Economic Report: Fed’s Beige Book Says Worker Shortage Hurts U.s. Hiring

Science Photo Library/Getty, Neziha Kalı Ertuğrul/Getty, Yevgen Romanenko/Getty, Tyler Le/BIThe economy is settling into its new shape, and it might mean lower pay for new workers. Job growth in April was concentrated in traditionally low-paying sectors like healthcare and retail. Wage growth, though slower, still outpaces inflation, which is still a boon for workers.

This black-and-white image released by the US military's Central Command shows the fire aboard the bulk carrier True Confidence after a missile attack by Yemen's Houthi rebels in the Gulf of Aden on March 6, 2024. US Central Command via APHouthi attacks on ships in the Red Sea and Gulf of Aden have gone on for months.

A person hacking people's password using a computer. Getty ImagesPro-Russia hackers are targeting infrastructure systems in the US and Europe, says a security advisory. Hackers have infiltrated infrastructure sectors in water, dams, energy, and agriculture. Security agencies say improved cyber hygiene can prevent these breaches. Infrastructure systems in the US and Europe are vulnerable targets for pro-Russia hackers, numerous security agencies cautioned in a May 1 advisory statement."In early 2024, the authoring organizations observed pro-Russia hacktivists targeting vulnerable industrial control systems in North America and Europe," the advisory said, which was authored by the FBI, the Cybersecurity and Infrastructure Security Agency, along with other domestic and international bureaus.

Business Insider Friday's jobs report has stamped out worry of a stagflationary economy. Fears of this scenario have flared over the past weak, set off by a weak first-quarter GDP print. But payroll additions came in neither too hot nor too cold, and average hourly earnings fell, helping dispel a stagflation narrative. The US economy looks to have steered clear of danger after the specter of stagflation spooked markets and put analysts on edge in recent weeks.

Fabian Sommer/picture alliance via Getty ImagesA YouTuber tested if Tesla's Cybertruck update makes the frunk safer by closing it on his finger. The frunk update worked well on produce, but crushed his finger and left it shaking with a dent. A Tesla engineer said the test was done wrong because the frunk increases in pressure every time.

Financial crises are the new normal, according to one Yale economist. PonyWang/Getty Images Stocks and the economy look strong but there are four factors that could pose a problem, Capital Economics said. Geopolitical risks in the Middle East and high interest rates are big risks to markets. A depreciation of the Chinese yuan and soaring US debt are also the two factors investors need to watch.