America's first transcontinental freight railroad is planned after a megamerger
This is a developing story. It will be updated.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 minutes ago
- Yahoo
The jobs data revisions that cost a US government statistician her job
(Reuters) -The revisions to previous estimates of the size of U.S. payrolls gains for May and June that prompted President Donald Trump to fire Bureau of Labor Statistics Commissioner Erika McEntarfer on Friday were by any measure extraordinarily large. Indeed, the combined downward revision for the two months of 258,000 was the largest - outside of those during the early months of the COVID-19 pandemic - since at least 1979. Here's a quick graphical breakdown: FIRST REVISION The monthly nonfarm payrolls report, released typically on the first Friday of each month, includes an initial estimate of employment changes for the immediately preceding month and revisions to the earlier estimates for the prior two months. BLS makes the revisions because more survey responses come in over the ensuing weeks and because it updates the seasonal factors affecting each month's estimates. The BLS on Friday said 133,000 fewer jobs had been created in June than first estimated. Over the last several years, the first estimate of the net change in payrolls each month has been revised lower more often than not. It has been revised down in eight of the last 12 BLS reports over the last year. The downward revision on Friday was the largest since the first estimate of payrolls gains for March 2021, published in April 2021, was revised down by 146,000 a month later. Over the last three years through June, the median estimate revision was -10,000. That contrasts with a median increase of 8,000 during the decade before the pandemic and a median increase of 2,000 over the series history since 1979. SECOND REVISION The total for May's payroll gains was revised lower by 125,000 in Friday's report, when the third estimate for payrolls for that month was published. That figure was the largest downward reduction of payrolls gains for a second revision - outside of the pandemic era - since the estimate for March 1983 was revised down by 127,000 in the report published in June 1983. COMBINED REVISION The combined downward revision for the two previous months - May and June - was larger than anything reported outside of the pandemic era. Indeed, the estimates for the two prior months combined have more often than not been revised higher. Since 1979, the median two-month combined estimate change was an upward revision of 10,000. Measured in absolute terms - revisions in either direction - Friday's revision also stands out. There have only been four larger revisions: +709,000 for November and December 2021; -642,000 for March and April 2020; +285,000 for August and September 1983; and +414,000 for April and May 1981. Solve the daily Crossword
Yahoo
3 minutes ago
- Yahoo
The 9 ‘Feelings of Wealth' Americans Experience, According to a New Study
When you think about wealth, your mind probably jumps straight to money. However, new research reveals that Americans define wealth far more broadly than just money and they're feeling pretty wealthy in some surprising areas. Discover More: Try This: Charles Schwab's 2025 Modern Wealth Survey, which studied 2,000 Americans aged 21 to 75, uncovered nine 'feelings of wealth' that will change how you think about wealth and what makes you feel truly rich. Quality of Relationships Topping the list, 83% of Americans feel wealthy when it comes to their relationships. The strong relationship between family, friends or partners provides a fulfillment that money can't buy. For You: Happiness Also at 83%, this shows that emotional satisfaction plays a huge role in how Americans define wealth. Just like quality relationships, happiness is something many people value more than material possessions. Amount of Free Time With 81% feeling wealthy regarding their free time, Americans recognize that having more control of your time is the ultimate luxury. The ability to choose how you spend your hours represents a wealth that many lack. Mental Health Over three-quarters (79%) of respondents associate strong mental health with wealth. Physical Health Physical health ties with mental health at 79%. Americans increasingly view being in good shape as part of a wealthy life. Accomplishments Personal and professional achievements also rank high. Whether it's hitting career goals or being a homeowner, 78% of Americans say their accomplishments make them feel wealthy. Life Experiences Vacations, adventures and everyday joys contribute to feelings of wealth. Life experiences give people meaning, and 78% agree these experiences make them feel wealthy in ways that money alone can't. Material Possessions Material goods rank eighth at 63%, showing that it matters less for many people. While possessions provide comfort and convenience, they don't deliver the deep satisfaction. Amount of Money They Have Surprisingly, money comes in last. Forty-nine percent said the amount of money they have makes them feel wealthy. For many people, money is far from the most important factor in how Americans measure wealth today. More From GOBankingRates 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives This article originally appeared on The 9 'Feelings of Wealth' Americans Experience, According to a New Study
Yahoo
3 minutes ago
- Yahoo
Firefly aims for up to $6 billion valuation in US IPO after bumping up price range
(Reuters) -Firefly is targeting a valuation of up to $6.04 billion in its U.S. listing, the company said in a filing on Monday, raising its pricing range amid heightened interest in space companies. The company is seeking to raise up to $696.6 million by offering 16.2 million shares priced between $41 and $43 each. It had last week launched its IPO roadshow and was initially aiming to raise as much as $631.8 million at a $5.5 billion valuation at the top of its range.
