The Week in Business – The New York Times

About 4.2 million people quit their jobs in October, according to data released by the Labor Department on Wednesday. That is a decline from the number of people who quit their jobs in September, but still close to a record high. Job openings also remained near a record high, as unemployment dropped to 4.2 percent from 4.6 percent. All of this has given workers more leverage in the labor market, and wages are rising, especially among low earners. But those raises are not keeping pace with rapidly rising prices.

At a Senate hearing on Wednesday, lawmakers from both parties grilled Adam Mosseri, the head of Instagram, about internal research leaked by a whistle-blower that showed Instagram had a toxic effect on some teenagers. They also asked him to support legislation for stronger privacy rules to protect children online, and to commit to sharing data with independent…

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