U.S. unemployment is hovering near a five-decade low and workforce participation is at the highest level in six years. Yet half of Americans are struggling to get by: Some 44% of those age 18 to 64 are low-wage workers, according to a new report. That’s 53 million people who aren’t reaping the benefits of a supposedly booming economy. —Josh Petri

Here are today’s top stories

China and the U.S. agreed to roll back tariffs in phases as they work toward a deal to end the trade war. Wall Street rejoiced.

The intensifying U.S. impeachment inquiry is sowing division within President Donald Trump’s administration. Two senior aides, Acting Chief of Staff Mick Mulvaney and White House Counsel Pat Cipollone, are clashing over who should direct his defense.

Trump was ordered by a judge to pay $2 million in restitution for spending money belonging to his charitable foundation for political purposes.

Disney+, the house of mouse’s new streaming service, looks like the future of the company. It could also define CEO Bob Iger’s legacy when he retires in 2021, Bloomberg Businessweek reports.

NASA flew a plane carrying gas-imaging equipment above California and made a discovery that surprised even the state’s own environmental agencies: A handful of operations are responsible for the vast majority of methane emissions.

California is a laboratory for America’s biggest problems, from income inequality to housing affordability and climate change. Part of what the state prides itself on—and makes it such a popular punching bag for Republicans—is its insistence that government should be proactive in addressing problems. Bloomberg Businessweek takes stock of how it’s doing.

What’s Joe Weisenthal thinking about? The Bloomberg news director says billionaire capitalists are sounding like Marxists. You can’t go a day without hearing some hedge fund manager warning about the dire consequences of extreme inequality. 

What you’ll need to know tomorrow

• Democrats are finding new ways to tax the ultra-wealthy.
• The life of a Google contract worker is secret and frustrating.
• Americans adapt to climate change, but they’re doing it wrong.
• Juul will stop selling mint-flavored vape products.
• The billionaires behind Lego lost $150 million in a single day.
• New York’s MTA is $43 billion in debt, and needs to borrow more.
• Lifestyle farming is the latest addictive hobby for banker types.

What you’ll want to read in Bloomberg Pursuits

Top Chefs Pick the Top Pies in America

America doesn’t get enough credit for dessert. France is rightly renowned for its exquisite pastries. Italy is a destination for gelato. But the U.S. outperforms in multiple categories, from colorful cakes to ice cream sundaes, not to mention pie—the most American treat of all. In celebration of Thanksgiving and peak pie season, we asked top chefs from around the country to recommend their favorite slice.

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