The Week (US)
The bottom line
■ U.S. payrolls grew by 559,000 in May, below most economists’ expectations. Though an increase from April’s 278,000, the number marks a slowdown from earlier this year and could mean a full labor recovery could take until well into 2022.
The unemployment rate fell slightly, to 5.8 percent.
The Wall Street Journal
■ Despite the booming housing market, the construction sector shed 20,000 jobs in May. The losses were driven by a steep decline in specialty trade contractors, such as roofers, drywallers, and pipe fitters, working on commercial projects.
■ A 1914 baseball card depicting a 19-year-old
Babe Ruth, then a pitcher with the Baltimore Orioles, has been valued at a record $6 million. The owner, Collectable, a fractional investing platform, will sell 1 percent of the card in 20,000 shares worth $3 each.
■ The price of condos in Chicago’s Trump International Hotel and Tower dropped 34 percent during the four years of Trump’s presidency, compared with a 6 percent drop over the same period at 18 other nearby luxury buildings.
■ Bicycle sales are up 77 percent in the year through March to $6.7 billion, according to research firm NPD Group. The cost of a high-end mountain bike, the Santa
Cruz Hightower CR, has risen 10 percent from earlier this year, to $4,749.
■ The UN Food and Agriculture Organization’s index of international food commodity prices for May was 40 percent higher than its level a year earlier. Tyson Foods said its raw material prices have risen more than 15 percent.