Job Growth Deception: Devil in Details

Market Sizzle: Jobs Mislead, Streaming Prices Climb, Texas Exchange Skepticism, Hospital Mergers Hike Costs ͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­ Forwarded this email? [Subscribe here]() for more [Job Growth Deception: Devil in Details]( Market Sizzle: Jobs Mislead, Streaming Prices Climb, Texas Exchange Skepticism, Hospital Mergers Hike Costs [Josh Belanger](joshbelanger) Jun 7 joshbelanger   [READ IN APP](   q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1057227c-0a0f-4bbc-a386-b35faaee25e3_600x200.png Ever get nervous when your phone rings? You're not alone. "Telephonophobia" is real, and it's heating up the Hybrid Work War. Some argue phone calls are a relief from screen fatigue. Others, especially the under-40 crowd, find them nerve-wracking. Whether you're a call enthusiast or a phone dodger, this tug-of-war isn't ending soon. Job Growth Masks Hidden Woes q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0d388c62-e35a-4993-a4e0-23fb4516a69c_1792x1024.webp US job growth surged in May, with wages going up. Nonfarm payrolls rose by 272,000, beating expectations. Wages increased 0.4% from April and 4.1% from a year ago. Unemployment also rose to 4%, the highest in over two years. The labor market is strong but inflation remains a worry. This might make the Federal Reserve keep interest rates high. The job market report is important for the Fed's next meeting. Economists think the Fed won't cut rates until the end of 2024. The S&P 500 fell, and the dollar got stronger after the report. The rise in unemployment is due to more people looking for jobs but not finding them. Job growth was seen in healthcare, government, and leisure sectors. Wage growth was strong, helping workers. Streaming Prices Soar q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fae08ff02-6769-4d69-b68e-5eb29802600c_1792x1024.webp Twitch, Spotify, and Max all raised prices this week. This is part of a trend in 2024 where many digital services are charging more. Streaming has been popular but often unprofitable. Higher prices haven't yet lowered subscriber numbers. This shows a shift from focusing on user growth to making money. Spotify, around for 18 years, has never been profitable. Twitch, now part of Amazon, also loses money. Max broke even last year. Streamers used to keep prices low to attract users. Twitch's lowest tier is now $5.99 a month, up 20%. Spotify raised prices by $1 twice recently. Music streaming is "stickier" than expected. People stay because they like their playlists. Higher prices might lead to new media bundles. Disney has combined Hulu with Disney+ and plans to add ESPN+. Big Tech, like Amazon and Apple, may become strong competitors with their own bundles. New Stock Exchange Sparks Doubts q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa5332f6e-ce67-4cd1-a08b-9853fe98e7a3_1792x1024.webp A new Texas stock exchange, TXSE, wants to challenge New York's dominance. Backed by BlackRock and Citadel Securities, TXSE aims to be a hub for listed companies and ETFs. It has raised $120 million to provide stability and predictability for companies. However, many doubt TXSE can succeed in the crowded market. There are already 24 regulated US exchanges, with NYSE and Nasdaq leading. Other attempts to break their hold have failed. Critics say it's tough to offer lighter regulations with a regulator in place. Some doubt if another listing venue is needed. Supporters argue TXSE will boost competition and benefit investors. TXSE claims Texas, with the most Fortune 500 companies, is ideal. Despite skepticism, backers believe TXSE will improve market liquidity and efficiency. Hospital Mergers Hike Costs q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F20325ceb-d86b-47d8-b4fe-b17a35025aff_1792x1024.webp Hospital mergers are driving up healthcare costs. Patients can't always choose their providers, and insurers have fewer options to negotiate with. This results in higher bills for everyone. Hospital executives claim that mergers improve efficiency and patient care. However, consolidation often leads to higher prices without better care. Employers and insurers end up paying more, which raises premiums for everyone. Over the past 20 years, there have been more than 1,000 hospital mergers. The Federal Trade Commission has only challenged a few. Recently, the FTC lost a case against a hospital merger in North Carolina. Hospitals also buy up doctor practices, increasing their control. This reduces competition and raises costs. Mergers between hospitals in different regions can also lead to higher prices. Hospitals promise more access and affordability, but prices keep rising. The healthcare market remains dominated by a few large players, leaving patients to bear the costs. Quick Sizzles - ECB Cuts Rates: The European Central Bank cuts rates for the first time in five years as inflation eases, signaling potential economic easing ahead. - Robinhood Buys Bitstamp: Robinhood acquires Bitstamp for $200 million, marking its expansion into digital assets and targeting institutional investors. - Lawmakers Target Chinese Batteries: U.S. lawmakers push to ban imports from Chinese battery makers CATL and Gotion over alleged forced labor ties in Xinjiang. - TSMC Shares Hit Record High: Taiwan Semiconductor's shares surge 4.7% amid booming demand for advanced AI chips, lifting the Taiex Index to a new record. - Chip Titans Battle for AI PCs: At Computex, Intel, AMD, and Nvidia showcase their latest AI processors, promising an AI PC revolution to boost productivity and performance. That's a wrap for today's Market Sizzle! If you have any questions or need more insights, feel free to reach out. See you tomorrow for another dose of market news. 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