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Finance

U.S. labor market shows rising long-term unemployment despite lower jobless rate, report says

The U.S. labor market is showing structural risks even as the official unemployment rate falls, including a rising share of long-term unemployed, an analysis said. A risk report by Sh Suhyup Bank said a participation-adjusted unemployment rate would be higher than the official figure, suggesting conditions may be weaker than headline data indicate. It also pointed to an increase in those unemployed for 27 weeks or more despite steady job openings, which could influence rate-cut decisions.

AI & Enterprise

Illinois governor warns AI could be as dangerous as nuclear weapons

Illinois Governor JB Pritzker (JB Pritzker) described AI as a technology that can drive medical innovation but could be as dangerous as nuclear weapons. He said self-regulation by AI companies is unlikely to solve privacy protection and safety concerns and urged active government intervention. Pritzker warned unemployment could rise quickly from 4 percent to 7 to 10 percent as AI spreads and said federal standards are needed.

Crypto

CoinShares says Bitcoin rally needs fiscal worry-driven inflows, not rate outlook

Europe\'s largest digital asset manager CoinShares said Bitcoin\'s rally will need fresh inflows driven by fiscal concerns rather than interest rate expectations. It said $11.1 billion has flowed into crypto funds since mid-July but momentum has weakened this week amid a sharp rise in U.S. Treasury yields. CoinShares cited mixed signals from softer employment, persistent inflation and fiscal uncertainty, and said bond markets could ultimately have the biggest impact.