Morning Business Report: U.S. job openings rise, July 4th grilling heats up
Job openings in the U.S. climbed in May to their highest level in six months, signaling continued strength in the labor market.
(LILAMAX)- Job openings in the U.S. climbed in May to their highest level in six months, signaling continued strength in the labor market. According to the Bureau of Labor Statistics, openings rose to 7.8 million from 7.4 million the previous month.
Federal Reserve Chair Jerome Powell is defending the central bank’s decision to hold off on interest rate cuts. Facing criticism from the White House, Powell said he would have reduced rates already—if not for the economic uncertainty caused by ongoing tariffs.
Meanwhile, clean energy sectors are facing pressure. As Congress considers President Donald Trump’s sweeping “Big Beautiful Bill,” solar and wind energy companies could lose key incentives. The proposed legislation includes a new tax on wind and solar projects completed after 2027 that use Chinese-made components. China currently dominates the global supply chain for solar panels, raising concerns within the renewable energy industry.
In corporate news, Amazon announced it now has over one million robots operating in its fulfillment centers worldwide. As automation expands, the average number of human employees per facility has dropped to its lowest level. The company also unveiled a new AI model to power and coordinate its robot fleet. Amazon stock rose on the news.
Lululemon is suing Costco, accusing the retailer of selling imitation sweatshirts, jackets, and pants that infringe on its patents and trademarks. The lawsuit alleges the knockoff items could mislead customers. Costco has yet to respond publicly.
Finally, ahead of Independence Day, a Talker Research study for Tyson Foods shows that hamburgers and hot dogs will dominate grills nationwide, with 82% of Americans planning to serve them. Steak, chicken, and seafood follow close behind. Popular sides include potato salad, chips, and baked beans. With 56% of Americans planning a cookout, the Fourth of July remains the country’s biggest grilling day of the year.
