Business Briefs: Unemployment, Nike, InstagramPosted: Updated:
Here's a look at your top business and tech headlines from Cheddar on News 12:
Unemployment is at a near 50-year low. The Labor Department says the unemployment rate is now 3.7 percent -- the lowest since 1969. That's good news for people looking for a job, but it's causing headaches for some employers. Businesses are having a hard time finding qualified candidates to fill open positions.
A regulatory filing has disclosed a mega donation by Nike's founder and CEO. Bloomberg reports that this week Phil Knight gave 12 million shares of Nike stock to various charities, worth nearly $1 billion. Benefactors of the donation were not disclosed. Forbes recently estimated Knight's personal net worth to be more than $33 billion.
And a new feature on Instagram may help you make new friends in real life. Name tags allow users to make a customized ID that can be shared with new friends. It's similar to a QR code -- scanning a name tag directly connects to someone's profile. The name tags can also be sent through text messages and other social platforms.