Hot on the heels of news that the U.S. grew at a decent 4 percent annualized clip in the second quarter of 2014 comes news of strong job growth, too.
The U.S. economy added a decent 218,000 jobs in July according to a survey by the private firm ADP. That may have been down on the 281,000 added in June, but it still indicates that the economic recovery remains robust.
The job gains were across multiple industries. Construction added 12,000 workers. Retail, shipping, and utilities gained 52,000. Professional and business services gained 61,000. Manufacturing was the weakest sector, adding just 3,000 jobs.
"It feels to me like the job market is humming," said Mark Zandi, chief economist at Moody's Analytics, told the Houston Chronicle.
That sounds about right. If the official government jobs numbers, due Friday, match up to ADP's figures, we could see a drop in unemployment to just 6 percent. While that isn't as low as the Federal Reserve would like to see — Janet Yellen is targeting an unemployment rate below 5.5 percent — it would be much closer to that level than the 9.9 percent unemployment seen in the depths of the recession in 2009. John Aziz
The Tampa Bay Lightning bought a ticket to the Stanley Cup final with a 2-0 win over the New York Rangers in Game 7 on Friday night. After a scoreless 40 minutes in Madison Square Garden, Alex Killorn and Ondrej Palat each notched a goal.
The Lightning will face the winner of tonight's Game 7 matchup between the Anaheim Ducks and the Chicago Blackhawks in the Stanley Cup, which begins June 3. Julie Kliegman
U.S. House Speaker John Boehner (R-Ohio) said Friday he's "shocked and saddened" by the allegations against former House Speaker Dennis Hastert (R-Ill.), the Associated Press reports. A federal grand jury indicted Hastert on Thursday for allegedly evading currency reporting requirements and lying to the FBI.
Sources told the Los Angeles Times the former teacher and wrestling coach has paid $1.7 million to a former male student over the last four years to conceal sexual abuse against that man. Julie Kliegman
Come Monday, the city of Paris will begin removing the hundreds of thousands of "love locks" tourists affix to the Pont des Arts bridge, The Local reports. Visitors might think it's cute, but for locals, the locks are an eyesore and a nuisance.
"This phenomenon generates two problems: a lasting degradation of the heritage of Paris and also a risk to the safety of visitors, Parisians and tourists," a Paris Town Hall statement read.
The city will install glass panels in place of the locks. Last year, a portion of the bridge collapsed under the weight of the locks, which also adorn other bridges throughout the city and even the Eiffel tower. Julie Kliegman
As part of our ongoing series on the 2016 candidates, produced in partnership with Rubin Report, The Week's Marc Ambinder and Dave Rubin concisely analyze the former Maryland governor's biggest strengths and weaknesses. Watch below:
Every nail salon in New York will be required to post a workers' bill of rights in plain view of employees and customers, The New York Times reports. The announcement comes after the newspaper highlighted widespread exploitation and abuse of manicurists, many of whom are new immigrants.
The posters Gov. Andrew Cuomo revealed Friday will be printed in 10 languages. They include information about minimum wage, tipping, safety measures, and a phone number to report violations. Officials will also hand out information cards to consumers outlining questions they should ask upon entering nail salons.
"We’re asking New Yorkers to help; we're asking New Yorkers to get involved," Cuomo said at a news conference with New York City advocate Letitia James. Julie Kliegman
Empire's first season aired its finale in March, and fans have been eagerly waiting to find out when they'll finally get to see all those dangling cliffhangers resolved.
Unfortunately, the season two premiere date is still pretty far away — but at last you can put it down on your calendar. Taraji P. Henson, who plays Cookie, took to Twitter to reveal that Empire will return on September 23. Set your DVRs accordingly. Scott Meslow
Ross William Ulbricht, 31, thec reator of black market website Silk Road, was sentenced to life in prison on Friday.
After its 2011 launch, Ulbricht ran the underground cyber-bazaar, where anonymous users used the cryptocurrency Bitcoin to purchase drugs, hacking tools, and fake identification, for about two years before he was arrested.
Ulbricht received the maximum sentence for his felony convictions of conspiracy, money laundering, and drug trafficking. Stephanie Talmadge