CNN 5 Things Labor market sliding, Department of War, Musk the trillionaire? & more
Sep 5, 2025
The U.S. job market faces a sobering slowdown, raising concerns about job growth and rising unemployment. A major immigration raid at a Hyundai plant stirs up controversy. Meanwhile, tensions escalate as Putin warns that Western troops could be seen as legitimate targets in Ukraine. On a different front, President Trump proposes a name change for the Department of Defense. Lastly, Tesla's ambitious pay proposal could help make Elon Musk the world's first trillionaire, although his ultimate success remains uncertain.
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U.S. Job Growth Is Weakening
- The U.S. jobs market shows clear signs of stalling with only 22,000 jobs added and revisions showing losses.
- Rising unemployment and cooling payrolls increase chances of a Fed rate cut and eventual market correction.
Technology, Not Tariffs, Drives Manufacturing Jobs
- Rana Faroohar links manufacturing weakness to technology and warns tariffs won't bring back mass factory jobs.
- She predicts a likely fall rate cut that may prop stocks short-term but not prevent a real-economy correction.
Mass Immigration Raid At Hyundai Plant
- Authorities conducted a large enforcement raid at a Hyundai EV plant in Ellabell, Georgia, using helicopters and multiple agencies.
- Officials said 475 people were apprehended, marking the largest single-site HSI operation in its history.