CBS Evening News, August 5, 2022
Strong July jobs growth defies recession fears; Scientist apologizes for photo of sausage he claimed was star
Economy
Strong July jobs growth defies recession fears
The July jobs numbers mean the economy has recouped all 22 million jobs lost early in the pandemic. But the news is not all good. Small businesses still can't find enough workers. Kris Van Cleave has more.
July jobs report beats expectations
The U.S. added 528,000 jobs in July, more than double what economists had predicted. With that boost, the unemployment rate fell to 3.5%, back to pre-pandemic levels and the lowest it's been since 1969. Daniel Zhao, senior economist at Glassdoor, joins CBS News to discuss what the report indicates about the state of the economy.
Stocks dip after strong jobs report offers mixed news for investors
New data on hot U.S. jobs market suggests Fed won't be reining in its aggressive rate hikes anytime soon.
Unemployment drops to lowest rate in 50 years
The July jobs report shows unemployment has dropped to pre-pandemic levels. Job growth last month was more than double what analysts were projecting. Javier David, business and markets managing editor at Axios, joins CBS News to break down what some of the key numbers in the report signal for the American economy.
3 more ships loaded with grain depart Ukrainian ports
While the shipments have raised hopes of easing a global food crisis, experts say much of the grain is used for animal feed
Some Americans turn to home gardens amid inflation
As inflation pushes grocery prices to a four-decade high, some Americans have turned to growing their own food to shrink their grocery bill. Janet Shamlian takes a look.
U.S. gas prices fall for 7 straight weeks
The cost of a gallon of gas continues to fall in the U.S. Ellen Wald, senior fellow at the Atlantic Council's Global Energy Center, joins "CBS News Mornings" to discuss what's helping ease the pain at the pump.
Jobless claims at 8-month high as layoffs edge higher
Although the labor market is slowing, businesses around the U.S. still have millions of job openings. .
First Ukraine grain ship passes inspection in Turkey and heads to Lebanon
Kyiv said 17 other vessels were "loaded and waiting permission to leave" Ukraine but there was no word on when they could depart.
How to protect your budget against a looming recession
Economic uncertainty isn't going away anytime soon. Here are steps you can take to be prepared if recession hits.
8/2: CBS News Mornings
U.S. drone strike kills top al Qaeda leader; Beyoncé swaps out controversial song lyric on her new album
China lays out its economic blueprint
China's National People's Congress charted the country's future during its annual meeting Saturday. Amy Celico of Albright Stonebridge Group joined CBS News' Lana Zak to discuss the meeting, as well as how Russia's invasion of Ukraine is impacting China.
Diesel fuel prices impacting trucking industry
As diesel prices sit near all-time highs, the rising cost is having a ripple effect on the economy. Michael Nicholson, co-owner of moving and storage company The Moving Squad, joined CBS News' Nikki Battiste to discuss the effects of inflation on his bottom line.
Surging gas prices increase other costs
Rising gas prices are causing a ripple effect across the U.S. economy, raising shipping and transportation costs as well. Harrison Fell, economist and senior research scholar at Columbia University's Center on Global Energy Policy, joined CBS News' Enrique Acevedo to discuss.
Job growth holds steady in April despite rising inflation
The U.S. labor market had an impressive month in April despite surging inflation. Wall Street Journal reporter Akane Otani joined Meg Oliver to discuss what the new job numbers could mean the economy's future.
Stocks fall as House Speaker Nancy Pelosi lands in Taiwan
Financial markets wobble amid investor concerns that the House speaker's visit could heighten U.S.-China tensions.
Robinhood slashes 23% of its workforce amid trading slump
CEO Vlad Tenev says soaring inflation and cryptocurrency crash is discouraging customers from trading.
Feds target U.S. companies caught in lucrative shark fin trade
Every year, the fins of as many as 73 million sharks are sliced from the backs of the majestic sea predators.
Job openings fall as the U.S. economy shrinks
American employers posted fewer job openings in June as the economy contends with raging inflation and rising interest rates.
U.S. economic growth shrinks
The U.S. Department of Commerce revealed Thursday that the GDP fell in the first quarter for the first time since 2020. The U.S. Department of Labor also reported that initial jobless claims dropped last week. Lori Bettinger, the president of BancAlliance and former director of the Troubled Asset Relief Program, joins CBS News to about what these figures say about the current state of the economy.
Weighing the state of the U.S. economy
Lori Bettinger, the president and BancAlliance and former director of the Troubled Asset Relief Program, joins CBS News' Tanya Rivero and Lana Zak to discuss consumer spending, falling consumer confidence, the upcoming Federal Reserve meeting and recession concerns.
Initial jobless claims fall slightly
The latest Labor Department report shows that new unemployment filings fell to 231,000 for the week of June 25, down 2,000 from the previous week. CBS News' Vladimir Duthiers and Anne-Marie Green sit down with Kathryn Gill, a reporter for The Wall Street Journal, to discuss these figures and other developments in the U.S. labor market and economy.
What to do with your 401(k) in bear market
High inflation and fears of a recession have many Americans wondering what to do with their 401(k) retirement investments. Those fears have been magnified by U.S. stocks falling by at least 20% from their most recent peak in January. CBS News MoneyWatch reporter Aimee Picchi joined CBS News' Errol Barnett and Debra Alfarone to discuss.
Deutsche Bank forecasts U.S. recession
Deutsche Bank is forecasting the U.S. will see a recession next year. The company's Global Head of Economic Research Peter Hooper spoke with CBS News' Tanya Rivero and Mola Lenghi about the new report.
live updates
Watch Live: Ousted CDC Director Susan Monarez testifies on RFK Jr., vaccines
Former CDC Director Susan Monarez and Chief Medical Officer Debra Houry are testifying before a Senate panel weeks after departing in a dramatic shakeup at the health agency.
live updates
King greets Trump for U.K. state visit under shadow of Epstein scandal
Trump is receiving the royal treatment from King Charles on a historic second U.K. state visit, but he's been greeted also by protests over his ties to Jeffrey Epstein.
live updates
Watch Live: FBI's Patel testifies in aftermath of Kirk shooting
FBI Director Kash Patel is appearing before the House Judiciary Committee on Wednesday for a second day of questioning by lawmakers.
Spirit Airlines flight warned to move farther from Air Force One over Long Island
Air traffic controllers urgently and repeatedly ordered the pilots of a Spirit Airlines flight to turn away from Air Force One over Long Island, New York as Air Force One took President Trump and others to a state visit to the U.K.
Maps show the forecast track of Tropical Storm Gabrielle
Tropical Storm Gabrielle formed Wednesday morning over the central Atlantic Ocean, becoming the seventh named storm of the 2025 Atlantic hurricane season.
Exclusive
Cardi B on expecting baby with Stefon Diggs and falling in love again
Cardi B confirmed on "CBS Mornings" that she is having a baby with boyfriend, NFL wide receiver Stefon Diggs.
Obama says America is at "inflection point" amid political violence
Former President Barack Obama addressed recent acts of political violence during remarks at a Pennsylvania nonprofit on Tuesday.
Pharaoh's 3,000-year-old gold bracelet goes missing from museum
The bracelet, described as a golden band adorned with "spherical lapis lazuli beads," belonged to King Amenemope, a pharaoh of Egypt's 21st Dynasty.
The IRS will soon set its 2026 tax brackets. See how yours could change.
The IRS adjusts its tax provisions for inflation every year, which can help taxpayers avoid so-called "bracket creep."