Dustin’ off the ol’ cubicle… The jobs market has stayed strong despite high interest rates and pesky inflation. In May, US hiring ramped up as employers added a whopping 339K jobs (economists had predicted 195K). And while industries like leisure and hospitality have seen a flood of new hires, they’ve started to cool. Meanwhile, unemployment has ticked higher. Some economists say the jobs market may’ve peaked as fewer Americans join the tail end of the Great Resignation. We’ll get the latest on the labor market when June’s job #s drop on Friday.
501s with a fraying hem… Levi's has cemented itself as a multi-generation must-have. In the first quarter, its CEO said it was the “market share leader” among 18- to 30-year-olds after topping revenue and profit expectations. Its direct-to-consumer and ecommerce biz saw strong sales growth, too, contributing 42% of all revenue. But none of it fully offset excess inventory, a problem that has many retailers’ zippers stuck. We’ll see whether discounts to sell off the glut ate into Levi’s margins when the denim icon reports this week.