The Truth About the New Jobs Report

dhita yudha

Donald Trump was quick to leap on the Labor Department’s employment report for July, which was released on Friday morning. “Great Jobs Numbers!” the President blared on Twitter. The White House press secretary, Kayleigh McEnany, fired out an exclamation point of her own, declaring, “President @realDonaldTrump is the JOBS president!”

The actual contents of the employment report present a very different picture. They show that, as the coronavirus pandemic has spread across the country this summer, job growth has slowed sharply. In July, non-farm payrolls rose by 1.8 million, compared to increases of 2.7 million in May and 4.8 million in June. In more normal times, these monthly figures would be off the charts, but they pale in comparison to the loss of 22.1 million jobs in March and April, when stay-at-home orders were issued in many areas. Taking the past six months as a whole, 12.8 million Americans

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Capital One to Pay $80M Penalty Over Data Breach Incident

dhita yudha

Capital One Financial COF has agreed to pay $80 million in fine to U.S. banking regulator over a data breach incident that occurred last year. The cyberattack exposed personal information of 106 million credit card holders of the bank in the United States and Canada.

In the consent order, the Office of the Comptroller of the Currency (OCC) stated that Capital One did not “establish effective risk assessment processes prior to migrating significant information technology operations to the public cloud environment.” The OCC also noted that even after concerns related to cyber security were raised during an internal audit, the top management didn’t take proper action.

Under the terms of the OCC order, Capital One is required to take adequate steps to ensure that its computer system has sufficient security and submit the plans for review. The company faces a similar oversight from the Federal Reserve.

Capital One in a

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