Rob Black’s Winners and Losers: One-third of American malls are doomed

SAN FRANCISCO (KRON) — On today’s edition of Rob Black’s Winners and Losers, our financial expert Rob Black and KRON 4’s Mark Danon about jobless claims, the fate of malls and how YahooMail is banned from Congress.

The number of Americans filing for unemployment benefits unexpectedly rose last week to the highest level in more than a year, raising further concerns about the health of the labor market in the wake of a slowdown in job gains in April. Despite the jump last week, claims have remained below 300,000, a threshold associated with healthy job market conditions, for 62 consecutive weeks, the longest stretch since 1973.

About one-third of American malls are not long for this world. Macy’s and other retailers got slammed by a warm winter and cool spring, as well as the continued migration of millennials to fast fashion and off-price stores. The results are also a sign of the country’s oversupply of retail space at a time when commerce is moving online.

The House of Representatives has banned staffers from accessing YahooMail until further notice. The House’s Technology Service Desk has noticed a rise in ransomware — attacks in which hackers attach malicious software to emails — entering staffers’ inboxes, particularly through YahooMail.

Rob Black answers Scott’s question: Should I keep working in retirement?

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