Unemployment is on the rise—but the economic picture looks vastly different depending on where you live.

The national joblessness rate ticked up slightly to 4.6% in July, but more than 60% of U.S. metro areas actually hired more people, Bureau of Labor Statistics data shows. Charlotte, North Carolina saw the highest employment growth for the year so far among metro areas with a population over 1 million, while Philadelphia and the New York City region also saw big gains.

The softening of the labor market is a major factor weighing on the Federal Reserve, as the central bank’s chairman Jerome Powell indicated in his Jackson Hole address that rate cuts could be coming.

Nvidia once again set a sales record in its latest quarterly earnings, beating Wall Street’s expectations even as its stock fell in after-hours trading. Some analysts were seeking clarity from the AI juggernaut’s CEO Jensen Huang about the Chinese government pressuring domestic companies not to buy the company’s H20 AI processors over national security concerns.

The Trump Administration wants more in return for the hundreds of billions of dollars a year the government spends with defense companies, but unlike Intel, major defense companies may be better able to fend off any of their demands. For instance, billionaire SpaceX........

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