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Economic uncertainty casts shadow over June's solid jobs report
The American labor market keeps hanging on, even as signs of weakness crop up.
Why it matters: Hiring is solid, defying expectations that the worrisome macroeconomic backdrop โ huge uncertainty about trade, immigration, and the fiscal outlook โ would keep more employers on the sidelines.
- But Thursday's Bureau of Labor Statistics report stops well short of giving an "all-clear" for the economy.
- Beyond the headline, labor supply is dwindling and demand for workers is narrowing. These issues could plague the labor market in the months ahead.
By the numbers: Employment increased by 147,000 last month, surpassing the gain of 115,000 jobs forecasters anticipated. The unemployment rate edged down a tick to 4.1%.
- The government revised up payroll figures for April and May, noting that employment in the prior two months was higher by a combined 16,000 than initially forecast.
- The report showed that 80.7% of the prime-age population โ those aged 25-54 โ was employed, just 0.2 percentage point shy of the peak seen in this economic cycle.
Zoom in: Conditions look less cheery beneath the surface. The private sector added just 74,000 jobs in June, almost half as many as the previous month.
- Jobs growth was overwhelmingly concentrated in state and local government, with less impressive gains in the most cyclical sectors โ that is, those most exposed to the weakening economy.
- State and local government added 73,000 jobs, offsetting the continued declines in federal government (-7,000) from DOGE-related layoffs. The other big gainer was health care, which added 39,000 jobs.
- While the number of unemployed Americans fell, the labor force also continued to shrink for the second consecutive month, helping keep downward pressure on the unemployment rate. Another 130,000 workers exited the workforce in June.
What they're saying: "There are real weaknesses in the market โ including concentrated job gains, slowing wage growth, and falling participation โ that have persisted for months, and there are scant signs of those concerns fading anytime soon," Indeed economist Cory Stahle wrote Thursday morning.
The big picture: Stahle compared the current labor market to a sturdy tent, but one that is "increasingly held up by fewer poles."
- Among those poles are structural forces, including a shortage of workers from America's aging population and the immigration crackdown.
- There is also an "ongoing reluctance among employers so far" to layoff workers in masse, a scarring effect of the pandemic when it was impossible to find and train staff.
Yes, but: There are profound economic changes underway that look set to supersede those factors; the adoption of AI is already shifting employers' hiring plans.
- President Trump is ending the era of free trade, making it more costly for businesses to get goods from overseas โ a dynamic that will force a reckoning among companies about their other expenses, including labor.
The bottom line: "Even well-staked tents can collapse when the wind shifts hard enough," Stahle says.
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Latest News
- The most daring looks Miley Cyrus has ever worn, from see-through dresses to latex leotards
The most daring looks Miley Cyrus has ever worn, from see-through dresses to latex leotards

XNY/Star Max/Getty Images
- In addition to being a musician and actor, Miley Cyrus is also a style icon.
- Many of her looks are extremely daring and involve everything from cutouts to plunging necklines.
- Cyrus also often wears see-through outfits, quirky leotards, and bold accessories.
No one embraces daring fashion quite like Miley Cyrus.
The 32-year-old superstar has been wearing bold outfits since the start of her entertainment career. She's performed in latex leotards, attended awards shows in sheer gowns, and more.
Here's a look at those outfits and some of the other daring ensembles she's sported so far.

Jon Kopaloff/Getty Images
Her white, double-breasted blazer with a plunging neckline was designed by Jean Paul Gaultier. With this daring look, Cyrus proved she was way ahead of the "no-pants trend," which was most popular between 2016 and 2018.ย
Equally bold were her accessories and hair, which included layered necklaces, black-and-white heels, and a short, volumized lob.

Jerod Harris/Getty Images
The form-fitting dress had a high neckline, long sleeves, and a straight, calf-length skirt. The garment was especially unique thanks to diamond-shaped cutouts on each side that extended from her chest to her legs.
Cyrus completed the look with black pumps, matching nail polish, and short, spiked hair.

Kevin Mazur/Getty Images
Though her Marc Jacobs dress appeared to be see-through at first glance, it actually had a long-sleeved, fishnet overlay atop a nude, sleeveless piece. The outer fabric was also coated with sparkles.
To keep the emphasis on her standout dress, Cyrus opted for a classic beauty look that included black eyeliner, red lipstick, and neutral face products. Her hair, on the other hand, was styled in wispy blonde spikes that showed her brown roots.

Jason Kempin/Getty Images
She attended a Myspace event in a black bralette-style top, leather jacket, and white pumps. Cyrus also accessorized with a black handbag, layered necklaces, vibrant lipstick, and short blonde hair that was shaved on each side.ย
It was her pants, however, that stole the show. The left leg of her pants was made from denim, and the right was made from gray sweatpants.ย

Kevin Mazur/WireImage for MTV
First, she wore a strapless, fuzzy leotard designed to look like a gray mouse. Underneath was a nude, two-piece set made from latex, which she wore for her infamous performance with Robin Thicke.
She also wore white Creeper shoes from TUK Footwear, a choker necklace, and tiny space buns atop her head.

Michael Buckner/AMA2013/Getty Images
The bathing suit โ which had a sleeveless crop top and high-cut bottoms โ was designed by Markus Lupfer.ย
Though she performed in just the two-piece set, heels, and clear accessories, Cyrus later added a white jacket backstage.

Erick James/Getty Images
The suit โ which had long sleeves, a deep, V-shaped neckline, and a high-cut bottom โ was covered in fake bills with Cyrus' face on them.
In addition to her outfit, the musician also wore oversize gold chains, a cannabis-leaf charm, and a green choker.

Jordan Strauss/Invision/AP
One such look was a black Tom Ford design that showed almost her entire torso. It had see-through long sleeves made from mesh and thick black straps that strategically crisscrossed over her chest.
Cyrus completed the look with a sleek blonde bob and dark eye makeup.

Charles Sykes/Invision/AP
Her black dress, designed by Alexander Wang, had a high neckline, long sleeves, and a floor-length skirt.
It was also covered in gold studs from top to bottom and had four cutouts โ two teardrop-shaped ones near the neckline, and larger, half-moon-shaped cutouts across her waist.

Evan Agostini/Invision/AP
In true Moschino style, the quirky dress had a sweetheart neckline and a giant bow that extended into a train. The red, satin gown was also covered in black-and-red hearts made from sequins.
Cyrus also wore black Doc Martens boots decorated with the same heart pattern.

Greg Allen/Invision/AP
Her sparkling pink outfit included a long-sleeved jacket cropped at the waist, straight-legged pants, and a matching belt with a silver buckle.
Cyrus' boots, on the other hand, were white, though the stars on them were a metallic pink shade.

Molly Riley/AP
The blue bow, which she wore as a bralette, had a red heart directly in the middle. She also showed her patriotic side in a red-and-white striped skirt, silver heels, and a pink feather headpiece.
And though she wasn't photographed wearing it, Cyrus also carried a sparkling red, white, and blue top hat.

Sam Wasson/Stringer/Getty Images
On the red carpet, she wore a heart-print crop top underneath a sheer, calf-length jacket covered in the same print. She also wore matching lace tights that were entirely see-through over a red pair of underwear.
To complete the look, the musician wore red satin sandals, matching lipstick, and heart-shaped earrings.

Michael Kovac/Getty Images
She attended an event held by Elton John in an asymmetrical gown partially covered in sparkles and partially made from satin. The latter side was bright pink and resembled Marilyn Monroe's famous gown.
The other side, however, was silver and textured. The long-sleeved gown was also unique thanks to its cutout underneath the neckline and its zig-zag pattern that split the two fabrics.

Jamie McCarthy/Getty Images
The halter-style Stella McCartney design also had a mermaid-style skirt and an open back that showed off her tattoos. Cyrus paired the garment with gold necklaces and a short blonde hairstyle.

Jordan Strauss/AP
She arrived on the red carpet in a black Mugler pantsuit, which included pants that flared at the ankles, and an oversize jacket worn without a shirt underneath.
But it was her shoes that really stood out. Cyrus wore vegan heels designed by Bradley Kenneth Eyewear and made by Mink Shoes. They were black sandals with gold-chain straps and two heels in the shapes of her initials: "M" and "C."

Jamie McCarthy/Getty Images
For a Tom Ford fashion show, Cyrus wore black satin pants, a black top with a plunging neckline, and a long velvet jacket.
The rest of her look was even bolder. She donned platform boots with sparkling heels, oversize sunglasses, and a big, fuzzy hat.

Vijat Mohindra/MTV VMAs 2020/Getty Images
Her strapless gown, designed by Mugler, was worn over two black undergarments.
Cyrus also wore sheer gloves covered in black beads, strappy sandals, red lipstick, and her new signature mullet.

Raymond Hall/Getty Images
While leaving a New York City hotel with her mom, Cyrus was photographed in a red calf-length coat, a white scoop-neck shirt, and wide-legged leather pants with silver zippers across each shin.
Of course, a face mask was part of her ensemble, as were oversize sunglasses, layers of necklaces, and a towering top hat with a wide brim. Cyrus also woreย black, alligator-print platform boots and carried a handbag with what appears to be a cat-shaped handle.

Raymond Hall/Getty Images
Her DIY-looking T-shirt read "Let It Rock," and she tucked it into a plaid miniskirt. To complete the look, Cyrus also wore velvet heels with gray bows, fishnet tights, a white garter, and messy buns.

Denise Truscello/Getty Images
Her sleeveless top was made from black leather with silver sequin stars embroidered on it, while her miniskirt was covered in red-and-white sequined stripes from top to bottom.
Cyrus also wore silver jewelry, black knee-high boots with the same star pattern, and a spiked mullet.

Paras Griffin/Stringer/Getty Images
While performing in Atlanta for the Music Midtown festival, Cyrus was photographed onstage wearing a halter shirt with a black collar and two shining hoops of fabric that draped across her chest.
She didn't wear anything else under the shirt, which showed many of her tattoos.

Donato Sardella/Getty Images
Her burgundy Gucci dress was covered in a sparkling blue fringe from top to bottom. It also had a thigh-high slit up its skirt, and a yellow feather belt across her hips.
Cyrus also carried a gold purse and wore metallic sandal heels.

Presley Ann/Stringer/Getty Images
Designed by Gucci and Balenciaga, her cream-colored suit was covered in a vibrant, floral print and the Balenciaga logo.
Cyrus wore it with a high-neck blouse underneath, a matching purse, and an oversize emerald ring.

NBC/Getty Images
The outfit included a sparkling blue bralette worn underneath a short coat crafted from rainbow-colored feathers.ย
She also wore bedazzled platform sandals and a miniskirt made from pink lace, purple beads, and silver sequins.

NBC/Getty Images
The two-piece set had a backless halter top with rips in the front and a matching miniskirt with asymmetrical pleats.
She was performing "Party in the USA" when the top part of her outfit broke, forcing her to hold it up and quickly make her way backstage. Cyrus then threw on a red blazer and seamlessly carried out the rest of her performance.
"Everybody's definitely looking at me now," she then jokingly sang before adding: "I'm still in the most clothes I've ever worn onstage."

Guillermo Legaria/Stringer/Getty Images
Her long-sleeved outfit was black and covered in tiny cutouts. The small circular ones extended from the garment's neckline to its pant legs, and a giant cutout with crisscross straps sat across its bodice.

Stefanie Keenan/Getty Images
Her Versace dress was strapless with a sharp, plunging neckline, cone top, and leather skirt.
Cyrus wore the bold garment with pointed pumps, black leather gloves, and her hair styled in loose waves.

Kevin Mazur/Getty Images
She first hit the red carpet in a custom ensemble designed by Maison Margiela. The golden chain-link dress was entirely see-through and intricately designed with different patterns from top to bottom.
The metallic piece also showed off her many tattoos and paired perfectly with her blown-out hairstyle.

Kevin Mazur/Getty Images
The custom Gucci gown had a thin bodice with a single strap, which barely covered her chest across one side of her body.
The revealing top design mirrored the gown's showstopping skirt, which was slit down the side starting at her waist.
Cyrus wore the dress with pointed pumps, a feather shawl, and a leather purse.

Patricia Schlein/Star Max/Getty Images
She was visiting New York City when she was photographed wearing a black, sleeveless gown that was see-through.
Designed by Ludovic de Saint Sernin, the dress had a mermaid-style skirt, a plunging neckline, and a piece of fabric tied across the collarbone.

XNY/Star Max/Getty Images
Also in New York City, Cyrus wore a Schiaparelli couture design. It included a sleeveless, fishnet dress embellished with crystals and a fringe skirt, as well as a massive, fringe-covered coat.
She also carried a Schiaparelli purse with the brand's signature gold anatomy charms.
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Latest News
- What the US Army is flying is around 90% crewed, 10% drone. Leadership wants to flip that.
What the US Army is flying is around 90% crewed, 10% drone. Leadership wants to flip that.

Tech. Sgt. Matt Hecht/US Air Force
- The US Army secretary and a top general told BI about the service's plans for what it flies.
- In the coming years, the Army wants to operate far more unmanned aircraft than manned.
- US Defense Secretary Pete Hegseth wants the Army to reduce its crewed attack helicopter force and replace it with drones.
US Army leadership told Business Insider it wants to be flying a lot more uncrewed aircraft than crewed ones in the coming years. We are talking about a tremendous increase in the number of drones.
Its ambitions, which align with goals outlined by US Secretary of Defense Pete Hegseth's recent directive, come from a vision for what Army officials and the Trump administration have described as a more lethal force ready for future warfare.
In an interview with Business Insider, US Secretary of the Army Daniel Driscoll and Gen. James Rainey, the commanding general of Army Futures Command, said that unprecedented changes in warfare are fueling plans to overhaul what the Army flies.
"We believe there's a role for some manned aircraft," Rainey explained, "Big picture-wise, right now, about 90% of the things we're flying have humans in them and 10% don't. And I believe over the next several years, we would like to invert that."
The plans to give every division 1,000 drones within the next two years, he added, speak to the "aggressiveness" with which the Army is going after the new uncrewed objectives.
Earlier this year, Hegseth sent out a memo on strategic transformations within the Army, laying out goals and timelines for the service, including force restructuring and cuts to certain programs and systems that altogether represent one of the largest Army revamps since the end of the Cold War. The push is estimated to cost around $36 billion over the next five years.
In the memo, Hegseth indicated that crewed attack helicopter formations would be reduced, restructured, and augmented with drone swarms capable of overwhelming adversaries.
War-winning Army capabilities and the ones that aren't

Sean Gallup/Getty Images
Driscoll said this big change, along with others identified in the DoD memo, is already underway and largely focused on examining what systems no longer make sense in the context of the Army's vision for its future and what systems will replace them.
He mentioned the AH-64D Apache attack helicopter as one platform that no longer aligns with plans for the transformation of the force. "The flying costs on that were $10,000 an hour," the secretary said of the older Deltas, pointing out that the figure is about twice the cost of the newer Echo variant of the aircraft.
"Those are the kinds of decisions that I think we had let linger and fester for too long as an Army for all sorts of reasons," Driscoll said. "What we are trying to do is take a hard look at these things," he explained, and decide whether they align with what the warfighter needs.
Last month, Lt. Gen. Joseph Ryan, the Army's deputy chief of staff for operations, plans, and training, said that the Deltas are no longer "a war-winning capability that we can fight with and win today." Even the more advanced Echos, he said, are "on the cusp of being capabilities where we don't necessarily see them contributing to the fight the way they have done perhaps in the past."
The Army plans to shelve the Delta variant and further examine other crewed aircraft that may no longer be sufficiently effective. It is also reviewing other helicopter models and plans to reduce the number of helos operated.
The future of war is robotic

US Army photo by Sgt. Andrew McNeil, 3rd Combat Aviation Brigade, 3rd Infantry Division
More broadly, uncrewed aircraft are being seen as alternatives that soldiers can send forward on the battlefield to do missions that crewed aircraft have traditionally done.
There's still a place for crewed aircraft in the Army. Some helicopters, for example, still boast value for landing troops behind or around enemy positions to surprise and surround them. But future operations are expected to be a whole lot more robotic, with an Army aviation portfolio that more heavily relies on unmanned systems integrated with manned ones.
The Army sees itself at a turning point. Senior defense officials appointed by President Donald Trump have called out what they see as excessive spending, outdated systems and weapons, and a need to expedite changes to be prepared to deter or fight a future conflict. It's part of efforts to maximize readiness, increase lethality, and get soldiers what they need most.
Such aims aren't entirely new, though, and execution will be key. During the previous administration, for instance, the Army was already discussing the need for more uncrewed systems and changes to its aircraft fleet, especially with the cancellation of the Future Attack Reconnaissance Aircraft program.
Last year, Rainey told lawmakers that for scouting and recon missions "the right thing to do is to use unmanned systems and not put humans in harm's way."
A major motivator for many of the ongoing transformation efforts is China, which the Pentagon has referred to as a pacing challenge. Officials and lawmakers in Washington see China's meteoric military growth and modernization and are pursuing capabilities that will allow the US military to deter aggression and, if necessary, overcome that rapidly evolving fighting force in armed combat.

US Army Photo by Spc. Matthew Keegan
Drones, from pocket-sized aircraft to quadcopters to bigger warfighting assets, are a key part of these efforts, providing a range of combat capabilities en masse for a relatively low cost compared to some other US weapons programs.
The Pentagon has been working to expedite the development and deployment of uncrewed aerial systems across the services, recognizing their value as this technology sprints onto the scene in big ways. Army soldiers have been testing different types of reconnaissance and strike drones are being tested in areas like the Indo-Pacific region, learning how to adapt unmanned systems to the challenges of different missions and environments.
That's a key aspect of an ongoing "transformation in contact" initiative, which focuses on Army units being given free rein to use different capabilities during training and exercises to see how the systems might work best.
The value of drones, particularly the smaller systems, has been especially visible in the war in Ukraine, which Army leaders continue to study. Ukrainian operators fly drones for intelligence-gathering and strike missions, among others.
Due to extensive electronic warfare countermeasures on the battlefield, both sides are heavily relying on fiber-optic drones to maintain a stable connection between the operator and system while also exploring new technology, like AI-enabled drones that can resist jamming. The US is not in a similar situation, but it is looking to innovate as if it were.