Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute.
[Labor] U.S. unemployment claims fell slightly last week but remained between 800,000 and 900,000 for a fifth straight week. This reflects a labor-market in recovery that is losing momentum.
[Economy] U.S. consumer spending has continued to grow despite a drop in personal income, a measure of what Americans received from salaries, investments, and government assistance programs - to 2.7%. The Commerce Department showed that the drop was attributed entirely to a reduction in unemployment benefits.
[Technology] Google announced several new products at its Pixel 5 event yesterday. Highlights include the launch of Google flagship phone, Pixel 5A and the release of a new Chromecast that doesn’t require a phone to play content.
Over60: The Verge
[Corporate Restructuring] Ford’s new CEO, Jim Farley, announced restructuring operations to shake up its executive ranks as the automaker struggles to execute a turnaround plan.