Job seekers giving up: Labor force participation rate falls to lowest in 50 years, outside of Covid era
A drop in the unemployment rate helped provide some upside to what was an otherwise downbeat jobs report — but it was for all the wrong reasons.
Economic news
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FCA criticises investment firms for unintelligible disclosure documents
UK financial watchdog also bans ‘double-dipping’ as it pushes to improve treatment of customers
Inside Donald Trump’s new financial disclosures
Also in today’s newsletter, US opts not to renew trade deal with Mexico and Canada
U.S. economy added 57,000 jobs in June, less than expected; unemployment rate at 4.2%
Nonfarm payrolls were expected to rise by 115,000 in June while the unemployment rate held steady at 4.3%, according to the Dow Jones consensus.
Blue Owl hit by $4.7bn of redemption requests as investor exodus persists
Withdrawal requests at 20 private credit funds tracked by FT totalled more than $22bn in second quarter
UK car finance compensation scheme paused by tribunal
FCA programme partially suspended after challenges from lenders and consumer group