About 1 out of every 5 drivers in the gig economy was collecting unemployment benefits at the pandemic’s peak, according to a new analysis published by the JPMorgan Chase Institute.
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Shares of Facebook, Twitter, and other social media and digital advertising businesses are down dramatically in after-hours trading after Snap revealed that revenue estimates were missed in the third quarter due to Apple’s iPhone privacy rules disrupting its advertising business. Snap also cautioned that supply chain issues were restricting short-term advertising investment because companies did not want to stimulate demand for products that they might not have in store.
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Homebuilding in the United States unexpectedly dipped in September, with permits falling to a one-year low due to severe shortages of raw materials and labour, bolstering projections for a strong slowdown in third-quarter economic growth.
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