FT News Briefing The pandemic is messing with US labour market data
Jan 4, 2022
Elizabeth Holmes faces a guilty verdict for fraud in the Theranos scandal. Apple makes headlines as the first company to reach a staggering $3 trillion valuation. Meanwhile, President Biden tackles rising meat prices with new initiatives aimed at supporting smaller producers. Amid all this, challenges arise in measuring U.S. job growth, with the pandemic creating inconsistencies in employment data. Experts delve into the implications of these statistics on policy decisions.
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Holmes Verdict
- Elizabeth Holmes was found guilty of defrauding investors in Theranos.
- The blood-testing startup was once valued at $9 billion but dissolved in 2018.
Apple's $3 Trillion Milestone
- Apple reached a $3 trillion market cap, growing astonishingly fast.
- Its recent trillion was added in just 1.5 years, fueled by pandemic demand.
Lowering Meat Prices
- The Biden administration aims to lower meat prices by supporting smaller producers.
- They'll provide grants, easier credit access, and stricter labeling rules.