CNN 5 Things Labor market sliding, Department of War, Musk the trillionaire? & more
Sep 5, 2025
Job growth in the U.S. is experiencing a significant slowdown, signaling tough times ahead. A massive immigration raid at a Hyundai plant leads to hundreds of detentions. Tensions rise as Putin declares Western troops in Ukraine as legitimate targets. Meanwhile, Trump suggests rebranding the Pentagon to the Department of War. On a different note, Tesla's pay proposal may set Musk on a path to becoming the world's first trillionaire, although a stock surge is needed for that to happen.
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Jobs Growth Is Cooling Sharply
- The US jobs market showed a sharp slowdown with only 22,000 jobs added and revisions showing losses in June.
- Rising unemployment to 4.3% shifted investor expectations toward Fed rate cuts and raised recession concerns.
Tariffs Won't Bring Manufacturing Jobs Back
- CNN's Rana Farooqar links weak manufacturing and tech-driven production to the limits of tariffs in restoring jobs.
- She warns rate cuts may lift markets temporarily but a slowing real economy could trigger a correction.
Mass Raid At Hyundai Plant In Georgia
- A massive immigration enforcement operation at Hyundai's Georgia plant led to 475 people being apprehended.
- Homeland Security described it as the largest single-site enforcement action in its history and Hyundai said it is cooperating.