US hiring slowed in November 2021 as the country continues its slow recovery amid the ongoing COVID pandemic; adding just 210,000 new positions that disappointed most economists’ expectations.
“The Labor Department said in its monthly payroll report released Friday that payrolls in November rose by just 210,000, well below the 550,000 jobs forecast by Refinitiv economists. The unemployment rate (which is calculated based on a separate survey) dropped more than expected to 4.2% from 4.6% — the lowest level since the pandemic began,” reports Fox News.
“Today’s employment report is doubly disappointing, because the reference week occurred just as it looked like Covid was on the retreat,” said Justin Wolfers, a University of Michigan economist. “This was a moment for people to return to malls and to return to work. The Covid-related news has only gotten worse since then.”
“The job growth stumble comes before the emergence of the newly identified omicron variant of COVID-19, which could jeopardize the global economy’s recovery. There is still a lack of clarity over how dangerous the new variant is, including whether it is more transmissible or capable of causing more severe illness. Early evidence suggests an increased risk of reinfection,” adds Fox.
Read the full report here.
CARTER 2.0: Southeast Gas Stations Ration Fuel, Cars Line-Up, Drivers Wait for Hours
Americans in the southeastern section of the country had flashbacks of the 1979 Oil Crisis this week when gas stations began rationing fuel in the aftermath of a major cyberattack against a pivotal pipeline.
“The closure of the 5,500-mile Colonial Pipeline, which carries more than 100 million gallons of fuel from Texas to New Jersey each day, has stretched into its fifth day,” reports the New York Post.
“It sparked wild scenes of panic buying across Georgia, Florida, Virginia and South Carolina — with North Carolina Gov. Roy Cooper and Georgia Gov. Brian Kemp even declaring states of emergency in their areas. Kemp also issued an executive order suspending Georgia’s gas tax through Saturday to help offset the costs of higher fuel prices,” adds the newspaper.
“I DON’T HAVE ANY GAS AND THE STATE OF NORTH CAROLINA DOESN’T HAVE GAS!! WHAT IN THE 2021 IS GOING ON !!” one panicked driver tweeted.
“I’ve seen all these cars waiting and I was like, ‘OMG. I have to fill my tank up!’” said another.
Read the full report at the New York Post.
CARTER 2.0? Gas Runs Dry After Pipeline Cyberattack, Long Lines in NC, SC, FL, VA
A cyberattack against a major energy pipeline along the East Coast caused fuel shortages in states like Florida, Virginia, and South Carolina Tuesday as security experts scrambled to get the key piece of infrastructure back online.
“Drivers along parts of the East Coast are feeling the immediate effects of the shutdown of the Colonial Pipeline following a ransomware attack, reports CBS News’ Laura Podesta. Some waited an hour or more on lines at gas stations before filling up or learning the pumps had run dry,” reports CBS News.
— Chaunte' Turner (@ChaunteLive5) May 11, 2021
“It was unbelievable. When I was driving today, I thought it was a catastrophe coming! I’ve seen all these cars waiting and I was like, ‘OMG. I have to fill my tank up!’” said one local in South Carolina.
Gas prices jumped six cents within 24 hours, raising the national average to nearly $3 per gallon.
“If this outrage goes past the end of the week … prices could spike pretty dramatically,” said Kevin Book of Clearview Energy Partners.
Read the full report here.