Elgin Area Chamber of Commerce: Bezos no longer CEO of Amazon, tower of rest of Florida razed, jobs report shows jump
July 6, 2021
Bezos is officially no longer CEO of Amazon
Amazon founder Jeff Bezos officially handed over his role as chief executive on Monday to Andy Jassy, who has worked for the Seattle-based retailer since 1997.
Bezos becomes executive chairman and will focus on new projects and initiatives. Jassy previously ran Amazon Web Services, Amazon’s cloud computing company that has grown into a multi-billion dollar company in two decades.
Amazon announced the move in February, saying the leadership transition would occur in the third quarter. Its third quarter has just started, but the date also marks the 27th anniversary of the company’s incorporation.
Without the day-to-day responsibilities, Bezos is free to focus on his space flight company Blue Origin. It is expected to participate in the company’s first human launch flight, scheduled for July 20, from a launch pad near Van Horn, Texas.
For the past two decades, Bezos has been part of the billionaire race to send tourists into space. Blue Origin competed with billionaire Elon Musk’s SpaceX on the government and commercial rocket launch business.
But British billionaire Richard Branson, founder of his own space company called Virgin Galactic, is expected to fly into orbit on July 11.
The tower of the rest of Florida razed
Florida state and local authorities conducted a controlled demolition of the remaining portion of the Miami area’s partially collapsed condominium tower on Sunday evening, fearing a tropical storm lashing the area could topple the structure. .
For much of last Thursday, work crews stopped excavating rubble from the collapsed portion of the South Champlain Towers at Surfside after sensors revealed movement in parts of what was still standing. The teams resumed work at the end of the afternoon on parts of the site deemed safe.
Much of the building collapsed in the early hours of June 24. No survivors have been found since day one. The death toll reached at least 28 on Monday, of which 117 are still missing.
Miami-Dade County Mayor Daniella Levine Cava said on Friday that razing the rest of the building could take weeks.
That changed when hurricane forecasters traced the path of Tropical Storm Elisa to southern Florida. Authorities have accelerated demolition plans to ensure the remaining structure does not fall in a direction that would damage the surrounding area.
The storm has moved westward and is now expected to pass through the Gulf of Mexico before reversing back to land north of Tampa. Still, high winds and rain are forecast for much of Florida.
Federal employment report shows increase
The wage bill has recovered at the fastest rate in 10 months, sending another strong signal that the economy is recovering.
The Ministry of Labor reported that the non-farm workforce increased by 850,000, with recreation and hospitality contributing the most with 343,000. This topped projections by around 150,000. It is also up from 583,000 in May, which was revised up from 24,000 but was still below expectations.
Still, the way the numbers played out mirrored payroll company ADP report earlier in the week that recreation and hospitality contributed much of the private payroll rising to 692,000. The 332 000 of this sector accounted for more than half of the increase in the service industry which dominated the report.
Unemployment, however, fell from 5.6% to 5.9% and the participation rate remained stagnant at 61.6%.
The report found that those who are unemployed because they quit their jobs to look for a new job increased from 164,000 to 942,000 people.
This press release was produced by the Elgin Region Chamber of Commerce. The opinions expressed here are those of the author.