US Adds Fewer Jobs | Super Rich Flock to Dubai | McD’s E.Coli Outbreak Over

US private sector adds fewer jobs than expected: ADP

Private sector employment in the U.S. grew by 146,000 jobs in November, which was lower than the expected 170,000.

October's job growth figure was revised down from 233,000 to 184,000.

Manufacturing saw a decline of 26,000 jobs, while education and health services showed resilience.

Pay growth for workers who stayed in their jobs increased to 4.8% annually, and for those who changed jobs, it rose to 7.2%.

CDC says McDonald's E. coli outbreak is over

The CDC announced that the E. coli outbreak linked to McDonald's Quarter Pounders is over.

Fresh, slivered onions were identified as the likely source of the outbreak.

A total of 104 people across 14 states fell ill, with 34 hospitalizations and one death.

Foot traffic to its U.S. restaurants was down 6.6% on Nov. 18 compared with a year earlier, according to a research note from Gordon Haskett.

The world’s super rich are moving to Dubai, but keeping their assets in Singapore, Switzerland

Dubai has become a strong magnet for high-net-worth individuals, attracting a significant number of millionaires globally.

Despite moving to Dubai, many of these individuals prefer to keep their assets in established wealth hubs like Singapore and Switzerland.

Migration consultancy Henley & Partners projects that the UAE will have the highest net inflow of millionaires globally in 2024, with over 6,700 millionaires expected.

The UAE has seen significant growth as a booking center for cross-border wealth, with an 8.9% increase in 2023 and is on track to become the sixth-largest booking center worldwide by 2028.

Market Update

• Fed’s Powell is speaking today in last chance to signal next moves on rates.

• General Motors to incur more than $5 billion in impairment charges and writedowns on its China business.

• Salesforce earnings miss estimates but revenue beats, stock price climbs higher in premarket trade.

Joke of the Day!

Why did the scarecrow become a successful motivational speaker?

Because he was outstanding in his field!

Generative AI Photo of the Day!

Prompt: A minimap diorama of a cafe adorned with indoor plants. Wooden beams crisscross above, and a cold brew station stands out with tiny bottles and glasses.