SAN FRANCISCO (KRON) – Loser: Stocks lower even as oil slips
Stocks were mixed, with the price of oil eventually falling slightly.
Markets are eagerly awaiting Friday’s Bureau of Labor Statistics February employment report.
The price of oil finally started to slide to $107 a barrel, but it’s still up more than 45% on the year. It is down from its intraday high of $116 and its highest level since September 2008.
Unemployment claims total 215,000, less than expected; and productivity increased by 6.6%.
Crude prices top $116, the highest since 2008, with commodity markets boiling.
A senior Ukrainian official has asked Xbox and PlayStation to block Russian players.
First, Amazon killed traditional bookstores. Then he opened his 68. Now Amazon is getting rid of its bookstores.
Winner: Now Playing on Netflix: Your Teenager
Movies and video games have been intrinsically linked for years – both through the arcade machines still found in the lobbies of your multiplex and through the hundreds of big-screen based arcade games like Tron.
Netflix is buying a video game studio for the second time in six months: Next Games, the maker of games based on TV shows including Netflix’s Stranger Things.
The games will be used to enhance the company’s existing high-level intellectual property.
Epic Games, creator of global sensation Fortnight, acquires music download site Bandcamp.
Loser: Shortage of child care workers is hurting the workforce
As omicron cases decline and mask mandates are lifted, more Americans are able to re-enter the workforce.
Child care labor shortages are affecting 460,000 American families and are beginning to weigh on the country’s economy.
But women have been participating in the labor force at low rates for decades due to expensive childcare costs.
The child care industry’s employment rate is still 12.4% below pre-pandemic standards.
Child care salaries rank among the lowest in the country, at an average of $12.25 per hour.
Target has raised its minimum hourly wage for some to $24, which means prospective babysitters suddenly have even less reason to burp babies.
Worse still, child care is already a huge expense for parents, with services costing an average of $11,000 per year per child.
The winners are the babysitters called upon to fill in the gaps. They bank. Rates jumped 11% in 2021 to $20.57 per hour.