Morning Business Report: U.S. job openings rise, July 4th grilling heats up
LILAMAX The labor market is still strong, as evidenced by the fact that job opportunities in the United States increased in May to their highest level in six months. The Bureau of Labor Statistics reports that the number of openings increased from 7.4 million to 7.8 million in the previous month.
Jerome Powell, the chair of the Federal Reserve, is defending the central bank’s decision to postpone interest rate reduction. Powell, who was criticized by the White House, claimed that if it weren’t for the economic uncertainty brought on by the ongoing tariffs, he would have already lowered rates.
Meanwhile, there is pressure on the renewable energy sectors. Key subsidies for solar and wind energy industries may be eliminated as Congress considers President Donald Trump’s expansive Big Beautiful Bill. A new levy on wind and solar projects using Chinese-made components that are finished after 2027 is part of the proposed law. Concerns in the renewable energy sector are raised by China’s existing dominance of the global solar panel supply chain.
In business news, Amazon said that more than a million robots are currently working in its fulfillment centers across the globe. The average number of human workers per facility has decreased to its lowest level as automation grows. In order to power and manage its fleet of robots, the business also presented a new AI model. The announcement caused Amazon’s shares to rise.
Lululemon is suing Costco, claiming that the retailer violates its patents and trademarks by selling knockoff sweatshirts, jackets, and pants. According to the lawsuit, the counterfeit goods can deceive buyers. Costco has not yet made a public statement.
Lastly, according to a Talker Research research conducted for Tyson Foods ahead of Independence Day, 82% of Americans intend to offer hot dogs and hamburgers, which will dominate grills across the country. Seafood, poultry, and steak are next in line. Baked beans, chips, and potato salad are common sides. The Fourth of July continues to be the nation’s most popular grilling day of the year, with 56% of Americans organizing a cookout.
