Human Times
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North American Edition
10th August 2026
 
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THE HOT STORY

U.S. payrolls fell by 23,000 in July as labor force shrank

The U.S. labor market unexpectedly contracted in July, shedding 23,000 jobs compared with economists’ expectations for an 83,000 gain, while revisions showed that May and June added 103,000 fewer jobs than previously reported. Despite the decline in employment, the unemployment rate edged down to 4.1% from 4.2% as more Americans left the labor force altogether. The figures have raised fresh concerns about the strength of the economy after a period of relatively stable hiring. Although lower immigration has reduced the number of new jobs needed to keep employment steady, both hiring and layoffs remain subdued, and nearly three in 10 unemployed Americans have now been looking for work for more than six months. The weaker jobs data could also complicate the Federal Reserve’s consideration of a September interest-rate increase. Some officials have recently emphasized elevated inflation and supported tighter monetary policy, but the July contraction and downward revisions have made the labor market appear more fragile. Traders slightly reduced their expectations for a September rate increase following the report, with another jobs report and additional inflation data due before the Fed’s next meeting.
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WORKFORCE

Patel aims to cut FBI lawyers

FBI Director Kash Patel is reportedly planning to shrink his legal advisory office. The FBI Office of the General Counsel (OGC) has begun carrying out Patel's instructions by pushing its workforce to take early retirement, according to people familiar with the situation, and the office has also weighed terminations, they said. OGC's several hundred lawyers are responsible for advising top bureau executives and agents to ensure lawful investigations responding to lawsuits against the FBI, and coordinating with DOJ prosecutors on cases.
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LEGAL

Senate confirms Todd Blanche as the next attorney general

The Republican-led Senate confirmed Todd Blanche, President Trump's former personal lawyer, as attorney general in a vote early Saturday morning. Blanche was confirmed by the narrowest of margins, being opposed by two Republicans - Sens. Susan Collins of Maine and Lisa Murkowski of Alaska. His path to confirmation was unusually difficult, due in large part to Republican concerns about a controversial settlement of Trump's lawsuit against the Internal Revenue Service. Under pressure, Blanche pledged in writing that the Justice Department would ditch Trump's proposed $1.8bn compensation fund for the president's allies, including those who attacked the Capitol on Jan. 6, 2021, and rein in another aspect of the settlement designed to shield Trump and his family from IRS tax audits. Senate Minority Leader Chuck Schumer said Blanche's confirmation to lead the DOJ will facilitate Trump's “pervasive, breathtaking corruption,” adding “If you want to wipe out corruption, you can't have the president's personal attorney as the attorney general.” 

Former VW engineers deny U.S. insider trading charges

Two former Volkswagen engineers have pleaded not guilty to charges they made a combined $300,000 trading on secret information about the German carmaker’s planned 2024 $5bn joint venture with electric vehicle maker Rivian Automotive. News of the planned deal caused Rivian’s stock price to surge by 23%. The engineers, both in the U.S. on assignment from Germany, are charged with conspiracy and securities fraud. A trial may take place early next year.
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CYBERSECURITY

Hedge funds targeted in wave of attempted cyberattacks

Some of the biggest U.S. hedge funds, including Steve Cohen’s Point72 and Ken Griffin’s Citadel, have been targeted by a wave of attempted cyber attacks. The hacking attempts featured phone calls in which ⁠cybercriminals tried to trick employees into granting them access or handing ​over other sensitive information, according to people familiar with the situation. Reuters notes that the phone call tactic is still widely used by hackers because of ​its effectiveness. Vinod Paul, president of Align Managed Services, which specializes in helping hedge funds with cybersecurity and information technology, said AI tools are helping bad actors launch attacks relatively cheaply and more broadly. “Before they could attack 50 entities in a targeted attack, now they can do 1,000 . . . Hackers can also listen into a phone call and mimic the voice, tone and phrasings of the speakers to create fake calls,” Paul said.
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ECONOMY

NY Fed finds inflation expectations little changed in July

Americans’ inflation expectations were broadly stable in July, according to the Federal Reserve Bank of New York’s Survey of Consumer Expectations. One-year inflation expectations eased to 3.6% from 3.7% in June, while three-year and five-year expectations remained at 3.3% and 3%, respectively. Households upgraded their assessments of their current and future financial situations, although they reported that credit has become harder to obtain and expect access to improve going forward. Expectations for home price growth remained at 3.2%, while consumers continued to anticipate higher gasoline prices over the next year. The labor market outlook was more cautious, with respondents expecting higher future unemployment and reporting an increased probability of losing their jobs. However, the perceived likelihood of finding a new job after losing one improved compared with June.
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HEALTH & WELLBEING

Extreme heat increasingly reshapes Americans’ daily lives

Extreme heat is having a growing impact on Americans’ finances, travel, sleep, and outdoor activities, according to an AP-NORC poll. About 80% of U.S. adults said heat had affected their electricity bills over the past year, up from 69% in 2024, while roughly 40% reported an impact on travel or vacation plans, compared with about 25% two years earlier. Around 70% said extreme temperatures affected family outdoor activities, with particularly notable shifts in the West and Midwest. Despite the increasing personal impact, belief that climate change is happening stood at 66%, down from 73% in September 2025.
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LEADERSHIP

Fifa warns against 'concerted effort' to undermine Infantino

Fifa, the international governing body of soccer, has criticized what it calls a "concerted and ongoing effort" to "undermine" the organization and its president Gianni Infantino. The statement followed a Daily Telegraph report in the U.K. which claimed Infantino's alleged lover was given a severance payment by Uefa after he had an affair while he was its general secretary. A Fifa spokesperson told the Telegraph that Infantino "strongly denies" the allegations and that they are "categorically untrue." Fifa has now itself hit out at "unsubstantiated assertions and demonstrably false claims," adding that "speculation and insinuation should not be presented as fact." Infantino has come under increasing pressure from Uefa and European football associations over his aborted Fifa Forward Enterprise (FFE) proposal.
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INTERNATIONAL

Unlawfully sacked Qantas workers to share in A$40m payout

Qantas workers who were unlawfully sacked during the COVID-19 pandemic will receive a $40m payout, following a Federal Court ruling. Justice Michael Lee ordered the payment to be made immediately, and criticized the compensation administrator for delays and lack of transparency. In December last year, he ordered the airline to pay A$90m - the largest employer fine in Australia's industrial history - due to the "sheer scale" of contraventions. Of this amount, A$50m has already been paid to the Transport Workers' Union. "I should draw a line in the sand from today," Justice Lee said as he ordered the payment be "decoupled" from the wider compensation scheme. "It is simply unfair to make those who have done all they reasonably can do to engage with the administrator to wait any longer."

Schaeffler seeks 1,300 job cuts through early pension push

German manufacturer Schaeffler plans to cut staff through an expanded phased-retirement programme that will unfold over four years amid weak automotive demand. The supplier said it expects some 1,300 employees, or 1.2% of its total workforce, to accept the early pension offer. “We expect to see the first minor positive effects as early as 2027, but this is not a program that produces quick results,” Schaeffler CEO Klaus Rosenfeld said. The measure will result in a one-off charge of about €51m ($59m) this year, the company said.

Ministers clash over 52-hour workweek exemption in 'special' zones

Korea's industry and labor ministers have clashed over whether to exempt some workers from the country's 52-hour workweek cap, in a public expression of sharply differing views that underscores divisions over how far local labor regulations should be eased to boost competitiveness. Under the Labor Standards Act, employees are generally prohibited from working more than 52 hours a week - a standard 40-hour workweek plus up to 12 hours of overtime. Industry Minister Kim Jung-kwan has said that companies within proposed "megaspecial zones" should be allowed to operate outside the limit, arguing that the cap obstructs growth, but his labor counterpart said Korean firms are not being disadvantaged by the rule.
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OTHER

Apple opens lottery for retail staff ahead of September iPhone launch

Apple is inviting U.S. retail employees to enter a lottery for the chance to help staff its annual September product launch event, which is expected to take place in the first half of the month. Selected employees will assist with organizing attendee lines, checking in guests, providing directions, greeting visitors, and supporting security teams during the in-person unveiling. Applications for the Event Support Experience Program close on August 8th, with successful applicants to be notified by August 17th. Employees who worked at this year's Worldwide Developers Conference or last year's iPhone launch are not eligible. The upcoming event will be the first major product launch under incoming chief executive officer John Ternus, who is due to succeed Tim Cook on September 1st. The company is expected to unveil its first foldable iPhone, alongside the iPhone 18 Pro and Pro Max, new Apple Watch models, and other hardware, although the company has not confirmed those products. 
 
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