Squawk on the Street Inflation and Jobs Watch, Oracle After the Huge Rally, Remembering 9/11 9/11/25
Sep 11, 2025
Key economic data reveals a rise in consumer inflation and jobless claims hitting a four-year high. The spotlight shines on AI advancements and Oracle's staggering stock surge that made Larry Ellison a hundred billion dollars richer. Commemorating the 24th anniversary of the September 11 attacks, the conversation shifts to industry challenges and personal reflections. There’s also a look at Klarna's impressive IPO debut and updates on the manhunt for a political activist's shooter, blending impactful current events with market insights.
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Mixed Inflation And Labor Signals
- CPI showed higher annual and monthly inflation with shelter and food increases, while weekly jobless claims rose to four-year highs.
- The data mix creates a complex picture where some inflation components remain sticky despite cooling elsewhere.
AI Is Reshaping Hiring Needs
- CEOs report AI is reducing the need to hire for coding and similar roles.
- This adoption signals structural shifts in labor demand, especially for junior coders.
Klarna's Staffing Shift
- Klarna's CEO described shrinking headcount from 7,400 to 3,000 by not replacing attrition and leaning on AI.
- He later said they may have over-indexed on efficiency and are re-shifting toward growth.