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According to the U.S. Bureau of Labor Statistics, unemployment rates have not shifted much in recent years. The current unemployment rate is reported as being 4.2%just a slight increase from the 4% it hovered around between 2022 and 2024. But according to a new report, another measure of unemployment is much higher, and steadily growing. The April report, which comes from the Ludwig Institute for Shared Economic Prosperity (LISEP), a nonprofit that produces original economic research, documents what it calls the “true rate” of unemployment. That rate refers to “functional unemployment,” which takes into account those who are job-seeking yet unable to find work, as well as those with full-time jobs but whose earnings put them below the poverty line (under $25,000/year). The functional unemployment rate has risen for three consecutive months and is currently 24.4%. That means about one in four U.S. adults are considered functionally unemployed. LISEP Chair Gene Ludwig said in a press release that the outlook on the trend shows “little signs of improvement” amid lack of an influx of dependable, good-paying jobs.” The report showed the functional unemployment rate rising 1.4% among Black workers to 26.7%. It decreased slightly for white workers, moving from 23.1% to 23%. While the rate for men increased (by 1.2%) bringing the total to 20%, women narrowed the gender gap. Women’s true unemployment rate dipped 0.8 percentage points to 28.6%. While it’s no secret that the federal government has been steadily shedding jobs, there haven’t been major increases in the unemployment rate. However, the new findings paint a grim picture of how many U.S. workers are struggling to find employment and a livable income. Meanwhile, wage increases haven’t kept up with a rising cost of living, not to mention the cost to raise a child, which has ticked up 25% in the past two years alone. Amid an already uncertain economic outlook, the rise in functional unemployment is a concerning development,” Ludwig explains. “This uncertainty comes at a price, and unfortunately, the low- and middle-income wage earners ultimately end up paying the bill.
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E-Commerce
Earlier this month, the Food and Drug Administration (FDA) and the Centers for Disease Control and Prevention (CDC) announced a multistate investigation of a Salmonella outbreak linked to cucumbers believed to have been grown by Bedner Growers Inc. of Boynton Beach, Florida. That outbreak has so far sickened 26 people in 15 states. And now, that outbreak has caused Walmart to recall a select cucumber product from some of its stores. Heres what you need to know about Walmarts cucumber recall. Whats happened? On May 22, Walmart announced that it was recalling a select cucumber product over fears that it had the possibility of being contaminated with Salmonella. The notice about the recall was published by the FDA a day later. According to the notice, Walmart is voluntarily recalling a cucumber product because it is believed Bedner Growers, Inc. may have supplied the cucumbers in the product. What cucumber product is Walmart recalling? The recall involves just one cucumber productMarketside Fresh Cut Cucumber Slices that were produced in select Texas-area stores between May 13, 2025 and May 20, 2025. Here are the details of that product: Product Description: Marketside Fresh Cut Cucumber Slices UPC/PLU: 62969 Av. Unit Weight: 1.5 lbs Date Codes: All date codes up to 5/24/2025 A photo of the recalled Marketside Fresh Cut Cucumber Slices can be found here. Has anyone been harmed by the recalled product? Unlike with the wider cucumber recall, no known illnesses have been specifically linked to the recalled Walmart cucumber product. More than two dozen individuals are known to have been sickened by the cucumbers involved in the wider recall. What should I do if I have the recalled Walmart cucumber product? If you have the recalled Marketside Fresh Cut Cucumber Slices, you should not consume them or let them be consumed by anyone else, nor should you give them away. Instead, you should throw out the product or return it to Walmart for a refund. The recall notice also states that you should clean and sanitize surfaces that the recalled product has come into contact with in order to reduce the chances of cross-contamination. What is Salmonella? Salmonella is a bacterium that can cause potentially fatal infections in people. While most Salmonella infections can resolve within a week, individuals who are young or elderly, or those who have weakened immune systems, can experience more severe consequences from a Salmonella infection. You can find out more details about Salmonella infections on the CDCs website here.
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E-Commerce
Salesforce is buying AI-powered cloud data management company Informatica in an approximately $8 billion deal.Informatica’s shareholders will receive $25 per share, a premium of about 11% from Friday’s closing price of $22.55.The transaction will give Salesforce access to Informatica’s data management capabilities.Informatica was taken private in 2015 by private equity firm Permira and the Canada Pension Plan Investment Board for about $5.3 billion. It went public again in 2021.“Joining forces with Salesforce represents a significant leap forward in our journey to bring data and AI to life by empowering businesses with the transformative power of their most critical asset their data,” Informatica CEO Amit Walia said in a statement on Tuesday. “We have a shared vision for how we can help organizations harness the full value of their data in the AI era.”Robin Washington, president and chief operating and financial officer at Salesforce, said in a statement that the acquisition will look to take advantage of Informatica’s capabilities quickly, particularly in areas such as the public sector, life sciences, health care, and financial services. San Francisco-based Salesforce is set to report its quarterly financial results Wednesday after the bell.Both companies’ boards have approved the deal, which is expected to close early in Salesforce’s fiscal 2027.Shares of Salesforce rose slightly before the market open, while Informatica’s stock jumped 5.7%. Michelle Chapman, AP Business Writer
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E-Commerce
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