Retail sales were higher than expected in July.

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St. Louis Fed Official Weighs in on Robust March Jobs Report
The relatively robust March jobs report showed that despite the low unemployment rate, Black, Hispanic, and women job seekers are still having difficulty finding work. William M. Rodgers III, the vice president and director of the Institute for Economic Equity at the Federal Reserve Bank of St. Louis noted that participation rates in the labor force ticked up for minorities, adding to other positive signs of growth. He also spoke to Cheddar News to discuss further the jobs figures, the state of the labor market, and rising inflation.
Don't Be Tricked by These April Fools Day Pranks
April Fools’ Day is full of eye-rolling marketing ideas that sometimes make us chuckle, but mostly make us groan. Here’s a roundup of some of the notable products we won’t be seeing on shelves anytime soon.
Gong Looks to Use AI to Disrupt Sales and Customer Interactions
Amit Bendov, the CEO and co-founder of Gong, a platform utilizing artificial intelligence to help sales and customer support teams, joined Cheddar News to talk about the tech company's innovative use of AI. Bendov pointed to an example of how the platform aided a client in selling point-of-sales software to restaurants. "Gong came up with a recommendation that when they called to introduce yourself to a new company, you should talk about the iPad before the application. That small change increased sales by 12 percent. It's a very simple change," he said. "The funny thing, Gong doesn't even know what an iPad is, what the application [is], or anything about their business. It just observed. But this is what the top 5 percent of people are doing that nobody else does. It's a very simple change to implement. Very hard to detect."
Poshmark Survey Marks Younger Spring Cleaners Likelier to Resell Apparel
The social marketplace Poshmark recently revealed its survey on spring cleaning with tips on how decluttering might lead to cash. Steven Tristan Young, the company's chief marketing officer, joined Cheddar News to talk about the survey of its customers, especially how Millennials and Gen Z'ers are gravitating toward cleaning out their closets to reboot their wardrobes. "I think style and fashion and image is so important to this audience that this is probably one of the reasons why they're really thinking about this spring cleaning, and our hope is turning it into spring selling," he noted.
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