Human Times

North American Edition

9th November 2026

THE HOT STORY

U.S. job growth surges to 165,000 in October, beating expectations

The U.S. labor market has shown renewed strength, adding 165,000 jobs in October 2026, significantly exceeding economists' forecasts of 59,000, according to the Labor Department. The unemployment rate fell to 4.1%, while employment figures for August and September were revised upward by a combined 84,000. Professional and business services led hiring with 70,000 new positions, followed by healthcare with 42,000 and manufacturing with 19,000, while construction lost 3,000 jobs. Average hourly earnings increased 3.1% year over year but continued to lag inflation, highlighting ongoing pressure on household purchasing power. Despite stronger employment figures, economists expect the Federal Reserve to remain focused on persistent inflation, with an interest rate increase still anticipated in December. Analysts also noted that hiring remains challenging for recent graduates and workers seeking new opportunities.

CYBERSECURITY

Firms use AI security tools to fight AI-enhanced hackers

A worldwide wave of cyber threats is straining IT departments, prompting some companies to turn to and increase investment in AI-powered security tools to help manage a workload which has seen staff working through the night. "It's a never-ending game of cat and mouse, with very high stakes," said Marnie Wilking, chief security officer at travel platform Booking.com, where hundreds of engineers are now building AI-powered defence systems. "We shut down one route, and before we've even finished rolling out the fix, the bad guys have moved on to the next," she said. Cybersecurity vulnerabilities in software or computer systems have tripled to nearly 37,000 from ⁠a year earlier, according to the Common Vulnerabilities and Exposures list, an international registry of disclosed security flaws.

Reuters

RISK

Nvidia launches probe into CEO's affair with suspected Chinese spy

U.S. tech giant Nvidia has launched an investigation following reports that chief executive Jensen Huang had a relationship with a suspected Chinese spy. The company's board said it had no reason to believe the company's secrets or national security were compromised, and Huang was committed to continuing to lead the organization. Nvidia said ⁠it “is initiating an independent investigation in light of recent reporting that founder and CEO Jensen Huang has been the target of a foreign intelligence effort.” China has denied that there was a spy plot attempt to ensnare Huang. “The so-called Chinese spy allegation is unsubstantiated. It is nothing but smears against China,” Ministry of Foreign Affairs spokesperson Guo Jiakun said. The New York Times reported last month that Donald Trump had been briefed in 2025 on intelligence that Huang ‌had a close relationship ‌with a Chinese businesswoman who passed information to ‌Beijing.

WORKFORCE

Partner talent war threatens traditional law firms

Intensifying competition for senior lawyers is reshaping the U.S. legal industry. Partner exits among the 100 largest firms are projected to nearly double compared with a decade ago, driven by lucrative compensation packages and growing demand for corporate legal expertise. Leading partners can command annual salaries of $20m to $30m, as global giants including Kirkland & Ellis and Latham & Watkins continue expanding their operations. Traditional New York firms face mounting pressure to abandon longstanding employment and compensation models to remain competitive. The closure of Weil Gotshal & Manges, following 60 partner departures this year, highlights the risks facing firms that are unable to retain key talent and clients.

The Wall Street Journal

TECHNOLOGY

A&O Shearman to invest $1.1bn in AI

Law firm A&O Shearman is set to invest $1.1bn over the next five years to enhance its AI capabilities, requiring each practice to dedicate at least 3% of its time to developing specialized AI tools. Hervé Ekué, A&O Shearman’s global managing partner, said: “This significant investment signals where we intend to take the firm over the next decade. AI lets us bring an enhanced skillset to our clients’ work, however complex, on a global scale and in a way that wasn’t possible before.” He added: “The firm that leads will combine exceptional legal judgement with the speed and scale to apply it consistently, anywhere in the world. We intend to be that firm and that is what this investment accelerates.”

Bloomberg Law

The Global Legal Post

Law

Financial Times

LEGAL

Richard Neal set to lead House Ways and Means Committee

Rep. Richard Neal (D-MA) is poised to reclaim the chairmanship of the House Ways and Means Committee following Democrats' victory in the 2026 midterm elections. Reelected to his 20th term, Neal will oversee a committee responsible for federal taxes, tariffs, Social Security, Medicare, retirement policy, and aspects of Medicaid. His initial priorities include restoring Affordable Care Act tax credits, reversing Medicare funding cuts, and holding hearings on Social Security's future. Neal also plans to challenge President Donald Trump's tariff policies, particularly those affecting trade relations with Canada, Massachusetts' largest foreign trading partner. Additionally, the committee is expected to investigate the impact of Department of Government Efficiency (DOGE) cuts and activities on the IRS and Social Security Administration. Neal previously chaired the committee and will return to the role amid continued political divisions with the White House.

CPA Practice Advisor

ECONOMY

U.S. consumer sentiment unexpectedly rises to three-month high

U.S. consumer sentiment has unexpectedly risen to a three-month high in November, with the University of Michigan’s preliminary index climbing to 51 from 48 in October, ahead of economists’ expectations for an unchanged reading. The improvement was driven by independents, whose confidence reached its highest level in over a year, while sentiment among Democrats and Republicans declined. Inflation concerns remain elevated, with 57% of respondents reporting that higher prices had eroded their living standards. One-year inflation expectations eased to 4.3%, while longer-term expectations fell to 3.4%. Consumers also expressed growing concerns over a potential AI bubble and stock market volatility.

Bloomberg

TAX

IRS reports record $5.6tn in tax collections

The IRS has reported record tax collections of $5.6tn for fiscal year 2026, an increase of nearly 5% from 2025, alongside larger taxpayer refunds and expanded digital services. According to the agency, the average federal income tax rate declined 4% to 12.6% for tax year 2025, while the total value of refunds claimed increased 17%, and the average refund rose 11% during the 2026 filing season. Approximately 90% of electronic filers received refunds within 21 days. The IRS also reported a 34% increase in individual online accounts to 37.6m users, with digital payments rising 57% to more than $133.6bn. Meanwhile, enhanced fraud prevention measures protected approximately $38bn in tax revenue from identity theft-related refund fraud. The agency also highlighted the establishment of nearly 70m tax-advantaged Trump Accounts for children, including approximately 27m receiving contributions.

CPA Practice Advisor

FRAUD

L.A. businesswoman 'fabricated workers and salaries in COVID fraud'

Marisela Nuño, a 53-year-old former L.A. County commissioner and chief executive of International Developers and Engineering Group Inc., has been indicted for allegedly attempting to defraud COVID-19 relief programs of approximately $18m. Charged with three counts of wire fraud and one count of money laundering, Nuño reportedly inflated her employee roster and misclassified a cannabis shop as a lawn-care business to secure funds. According to the Department of Justice, she received $4.8m through fraudulent applications for various businesses she owned. “In fact, as defendant Nuño then knew, The Nuño Estate had neither 20 or more employees nor over $163,386 in average monthly payroll,” the complaint stated. If convicted, she faces up to 20 years in prison for each wire fraud count and 10 years for money laundering.

Los Angeles Times

INTERNATIONAL

Stellantis extends Fiat 500 production stoppage

Stellantis has extended to the whole of this week the current production stoppage at its Fiat ‌500 plant at Turin in northern Italy, marking the fourth consecutive week ⁠of no production at the Mirafiori facility. A spokesperson for the Franco-Italian automaker said this week's shutdown is linked to a shortage of electronic components, but union officials have identified weak demand as the continuing reason ⁠for the hiatus.

Reuters

OTHER

Google AI chatbot 'helped teen prepare suicide plan'

Google has been sued by the parents of a 13-year-old student who allegedly developed suicidal thoughts and plans after prolonged interactions with AI features on her school-issued Chromebook. The California lawsuit claims that Google's AI Mode encouraged the student to distrust her parents and counselors, provided unverified mental health diagnoses, and failed to trigger appropriate safety alerts. The complaint also alleges that Google introduced AI features into school technology without adequately informing parents or providing sufficient controls. Google denies that its systems lack safeguards, emphasizing its existing mental health crisis resources. The company has announced plans to automatically disable certain AI applications and features in K-12 schools in early 2027, although AI functionality will remain integrated into Google Search where schools choose to enable it.

New York Times

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