“A baby step in the right direction”
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 8 March 2023
⏱️ 29 minutes
🧾️ Download transcript
Summary
That’s how one economist described today’s job openings report. The number of available jobs remains high but is on the decline, as is the number of people who’ve quit their gigs. It indicates that the Federal Reserve’s efforts to cool the economy are working — at least in certain industries. Plus, converting office buildings to apartments, parsing the importance of seasonally adjusted data and gaming our way to a balanced federal budget.
Transcript
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| 0:00.0 | Hey, everybody. It's Kai. It is hard to believe that three years ago, we were thrown into so much uncertainty due to COVID through it |
| 0:06.1 | although marketplace has been here for you, breaking down the impact that this global pandemic has had on the economy and how it affects you. |
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| 0:21.4 | Slash donate. |
| 0:22.3 | Monso business banking. It just works. So you can too. Join businesses like Target to Wishing by opening a Monso business account. |
| 0:31.2 | What I love about Monso business account is how easy everything is. It can be filtered, it can be tagged. |
| 0:37.5 | We thought we'd have to manage our business around our banks but that's not the case for Monso. |
| 0:41.9 | My name is Shun. I am the Founder of Target Trition. |
| 0:45.0 | Apply in minutes at monzo.com slash business. To apply you must be a sole trader or director of a limited company. |
| 0:51.0 | UK business is only times and conditions apply. |
| 0:55.3 | No, really it is all about the data from American public media. This is Marketplace. |
| 1:13.2 | In Los Angeles, I'm carrested on his Wednesday. Today, the eighth of March. Good as always to have you along. |
| 1:19.3 | Everybody, Jay Powell, day two, Capitol Hill clarifying what he said yesterday about data and interest rates. |
| 1:28.0 | If and I stressed that no decision has been made on this, but if the totality of the data were to indicate that faster tightening is warranted, |
| 1:36.0 | we'd be prepared to increase the pace of rate hikes. |
| 1:38.6 | That no decision bit was the clarification after Wall Street took his comments yesterday as this week sign the economic apocalypse is upon us. |
| 1:48.0 | In the fact of the matter is there is a lot of new data yet to come and some that came in today. |
| 1:53.6 | Actually, the latest job openings and labor turnover survey was out this morning. |
| 1:58.5 | The number of job openings down in January but still quite high, almost 11 million help wanted ads out there. |
| 2:06.0 | The number of people who quit fell as well. Layoffs were up. Marketplace to Samantha Fields is on the what does it all mean desk today. |
| 2:16.8 | You never want to put too much weight on any one particular number or data set like today's Joltz report. |
| 2:22.8 | But it should be evidence that what the Fed is trying to do is working. |
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