Labor Day weekend… isn’t just about BBQs and not wearing white (...it’s about labor). The US labor market remains strong with unemployment near historic lows, but hiring and job openings recently fell to a two-year low. Meanwhile, workers are winning #HotStrikeSummer: 340K Teamsters ratified a contract with UPS that gives full-timers a $15K raise over five years, while 97% of the 140K-member United Auto Workers union voted to authorize a strike against GM, Ford, and Stellantis. Over in Hollywood, negotiations between studios and talent continue.
404 (demand) not found… When budgets get tight, electronics are one of the first purchases to get cut (you can’t eat a PC). Apple recently reported falling Q2 hardware sales as pricey Macs stayed on shelves. Meanwhile, Best Buy missed sales estimates in Q1 and is expected to report slumping sales this week. HP and Dell are forecast to post PC declines this week too. A turnaround could be near: Best Buy’s CEO said this year’ll “be the bottom for the decline in tech demand” — and PC sellers Acer and Asus saw a sales lift last month.