Good news. The U.S. unemployment rate fell to 5.1 percent, the lowest it has been since April 2008, Bloomberg reports. The Federal Reserve considers that rate to be full employment, so it will be interesting to see what the central bank does with interest rates. Originally, the Fed had planned to raise that benchmark rate slightly this year, but with global markets in turmoil, some have urged it to wait.
What happened? Band of Outsiders, a designer clothing brand that was beloved by celebrities and the fashion world, folded unexpectedly earlier this year, the New York Times writes. Scott Sternberg, the creator of the brand, pioneered a style that got rid of the baggy and parachute-like qualities in men’s dress shirts and pants. Eventually, big companies caught on and copied Sternberg’s ideas, which may have contributed to Band of Outsiders’ downfall, the Times says.
Good luck. The Interactive Advertising Bureau is considering organizing a publisher boycott of ad-blocking software, and even suing ad-blocking companies, Advertising Age reports. According to the anti-ad blocking firm PageFair, publications have lost nearly $21.8 billion because of ad-blocking. And it’s about to get worse once Apple enables ad-blocking on its mobile Safari browser.
Bad news. This was supposed to be the year when wage growth in the U.S. made real gains, but the Upshot writes that this hasn’t been the case despite pay raises at big companies like Wal-Mart and McDonald’s.