What's Happening

International

Justin Trudeau Says 'Au Revoir' As Canada Prepares for Its Next Chapter

What's going on: After weeks of mounting pressure, Canadian Prime Minister Justin Trudeau announced yesterday that he’s stepping down as both prime minister and leader of the Liberal Party. During his nearly nine years of leadership, Canada has negotiated trade deals with Mexico and the US, legalized marijuana, and put together a national child care program. But concerns over immigration, a housing crisis, his finance minister’s abrupt resignation, and President-elect Donald Trump’s tariff threat have eroded the public’s trust in Trudeau and his party. A recent poll put the Liberal Party’s approval rating at just 16%, and Trudeau’s hit an all-time low. At a press conference, he said, “It’s time for the temperature to come down, for the people to have a fresh start in Parliament.”

What it means: Before Trudeau can officially pack his things, the Liberal Party must first select an interim leader to guide the country through this transition by the end of March. After that, an election will be scheduled, likely taking place before or by late October. It’s widely expected that Canada will welcome a more conservative prime minister by the end of the year — falling in line with a larger global trend among leading democracies. However, in his resignation speech, Trudeau said the Conservative Party’s vision is “not the right one” for America’s northern neighbor. Regardless of who is elected, Canada’s next leader will have to form a new government and navigate Trump’s tariffs.

Related: Meanwhile, the UK’s Leader and Elon Musk Are Stuck in a War of Words (Politico)

Career

Is the Job Market Sending Mixed Signals?

What's going on: The latest US employment data paints a seemingly rosy picture with 227,000 new jobs added in November, but dig deeper and you’ll find 7 million Americans were still searching for work that month. What’s particularly concerning is that nearly a quarter of these job seekers have been pounding the pavement looking for their next gig for more than six months. Sure, the unemployment rate is at 4.2% (well below the average during the 2010s), but here’s the catch: the job market’s matchmaking potential has essentially been cut in half. Where there used to be two job openings per job seeker in early 2022, it’s now down to just one.

What it means: The uncertainty has pushed a number of workers into freelance and contract work, making the gig economy an attractive escape in a sea of rejection letters (at least, for the short-term). And while 2024 saw shakeups (read: layoffs) in industries from tech to media, it’s too early to predict how 2025 will fare. However, the year could already be off to a good start. Some states are making it easier for job seekers, with at least five more states enacting pay transparency laws this year. On top of that, 21 states increased their hourly minimum wage on Jan. 1, with raises ranging from 18 cents to $1.75.

Related: Where Have All the Managers Gone? (WSJ gift link)

Entertainment

Can Anyone Tell Us How To Save 'Sesame Street'?

What's going on: There are tons of famous streets — 5th Avenue, Rodeo Drive, Wisteria Lane. But none quite match the fame or nostalgia of Sesame Street. However, the beloved children’s show is reportedly in trouble. After years of financial support, the streaming service Max has ended its partnership with Sesame Workshop, the nonprofit behind the series, leaving the show… how would Elmo put this? “Financially challenged.” Sesame Street is now on the hunt for a new partner (the Bert to its Ernie, if you will) and is eyeing platforms like Apple TV+, Netflix, or Amazon. In the meantime, the Workshop has been overhauling its scripts, banishing characters like Big Bird and Oscar the Grouch to supporting roles (no, Elmo, we are not okay). They’ve also brought in a new head writer and fresh executives. But will these changes be enough to land a new home? 

What it means: Sesame Street has long taught kids not only letters and numbers, but also crucial life skills like kindness and processing emotions — lessons kids need even more in a post-pandemic world. Patience and perseverance are among the values the show has championed, fitting traits as it prepares to launch its 56th season. Sesame has already faced competition from the likes of YouTube, TikTok, and Paw Patrol. Not to mention, attacks on public broadcasting over the years from politicians including President-elect Donald Trump and former Republican Speaker of the House Newt Gingrich. So, perhaps leaning into its original lessons will be enough (and if not, you can find us commiserating with Cookie Monster over a glass of milk and remembering that it’s okay to cry). 

Related: Robert De Niro Spends His Mornings With Ms. Rachel and His Daughter (People)