Economics & Economy

Facebook announced this week that it had suffered its biggest hack ever compromising the accounts of at least 50 million users. Part of the reason a Facebook hack is so scary is that the social network connects to so many other apps and services. You might use it to log in to Spotify or Tinder or OpenTable — a whole string of apps might have your information connected to your profile. So far, Facebook has said hackers did not access any third-party apps. But it's still investigating the scope of the hack.

Here's a number for you: 1 million. That's how many children were victims of identity fraud in 2017, according to data from Javelin Strategy & Research. Sixty percent of those affected know the person who stole the child's identity, which resulted in $2.6 billion in total losses and over $540 million in out-of-pocket costs to families.

On Friday, we'll get the latest jobs figures for the month of September. Economists are expecting a strong report, with unemployment expected to drop a bit from an already low rate. We're also getting awfully close to the holiday hiring season, and sales are expected to be pretty strong, too. But with the unemployment rate as low as it is, what will retailers have to do to find the workers they need? 

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How will the USMCA trade deal impact China?

Oct 4, 2018

Under the new United States-Mexico-Canada Agreement, manufacturers need to source more parts from the member countries to avoid penalties. That could cost China.

Earlier this week, President Donald Trump said that the trade deal would provide a big boost for North American businesses and jobs.

“We’re going to be a manufacturing powerhouse and allow us to reclaim a supply chain that has been off-shored to the world because of unfair trade issues,” Trump told reporters.

All I want for Christmas is a little help

Oct 4, 2018

Forecasts are predicting strong holiday sales this season, which means retailers, warehouses and other businesses are going to need more employees. But with a labor market this tight, we'll look at how companies are competing for seasonal workers. Then, more than a million children had their identities stolen last year, costing families $542 million. We'll look at what makes kids easy targets and what parents are doing about it. Plus, we'll take you to the world's biggest Elvis Presley festival. It isn't in Nashville or Graceland, but the seaside village of Porthcawl, Wales. 

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