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- Job Market Weaker Than Previously Reported, OpenAI vs AI Bill and "Doomsday Glacier" Update
Job Market Weaker Than Previously Reported, OpenAI vs AI Bill and "Doomsday Glacier" Update
Anna Eisenberg
August 21, 2024
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Anna's Daybreak News
Thursday, 5:25 AM
August 22, 2024
Good morning news friend! Keep track of the latest updates, staying informed as events unfold and change. 📰🌟
The Labor Department reported that from April 2023 to March 2024, the country added 818,000 fewer jobs than previously estimated.
This adjustment lowers the average monthly job growth from 242,000 to 174,000. Reflecting a 28% decline.
Professional and business services lost 358,000 jobs, while leisure and hospitality shed 150,000 jobs. The manufacturing sector also decreased by 115,000 jobs.
With the unemployment rate now at 4.3%, concerns about the labor market's health have grown.
Source: Read More
Target reported a 3% rise in sales, reaching $25.45 billion. Sales increased by 2% from comparable stores and 3% in clothing sales.
Target's profits also beat expectations, with earnings of $1.19 billion for the quarter.
Conversely, Macy's faced challenges with a nearly 4% drop in sales, totaling $4.94 billion. And downgraded its sales outlook, now expecting a decrease of 2.2% for the year.
Macy’s CEO, Tony Spring, acknowledged a cautious consumer base focused on value.
Source: Read More
Do you think the US will be able to avoid a recession? |
OpenAI opposed California's AI safety bill, SB 1047. The company believes federal oversight is better than state control.
This bill aims to establish standards for developing AI models, including pre-deployment safety tests and whistleblower protections. It also gives California's Attorney General the power to act if AI models cause harm and proposes a public cloud system called CalCompute.
OpenAI's Chief Strategy Officer, Jason Kwon, argued that the legislation may slow technological progress and lead companies to leave California.
Proponents defend the bill as reasonable and aligned with what large AI labs already commit to—testing for safety risks.
Source: Read More
A United Nations panel predicted a potential sea level rise of 3 feet by 2070 and 10 feet by 2100 if the Thwaites Glacier (known as the "Doomsday Glacier") collapses.
These predictions stem from a theory called marine ice cliff instability (MICI), suggesting rapid melting could occur at the glacier's grounding line.
However, scientists from Dartmouth using three high-resolution models, found that while the glacier is melting, it likely won't collapse within the 21st century.
Despite this, the Thwaites Glacier still contributes to 10% of global sea level rise and could add 2 feet to global levels after its eventual collapse.
Source: Read More
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