A Goldilocks jobs report

Marketplace All-in-One

Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 3 May 2024

⏱️ 1 minutes

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Summary

The Labor Department reports 175,000 jobs were created last month, fewer than expected: wage growth was also lower; stocks rise on the news; Treasury Secretary Janet Yellen says democracy is under threat.

Transcript

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0:00.0	A Goldilocks jobs report, I'm Nancy Marshall Ginser with the Marketplace Minute.
0:06.8	The Labor Department reported this morning that 175,000 jobs were created last month, fewer
0:12.1	than expected. The unemployment rate
0:14.2	ticked up slightly to 3.9 percent and hourly wages were up 3.9 percent, also
0:20.3	less than expected. Stocks surged on the report.
0:23.6	Traders were happy, the jobs numbers were good,
0:26.1	but not so good the Federal Reserve won't cut interest rates.
0:29.2	The Fed has kept them high to cool the economy and slow inflation. Treasury Secretary Janet Yellen says
0:34.8	Democracy is Good for the Economy. In an op-ed in speech today, Yellen says, quote,
0:40.2	the free flow of knowledge and ideas drives entrepreneurship.
0:44.7	Without mentioning former President Trump by name,
0:47.4	she says democracy is under threat.
0:49.8	An apple unveiled lackluster results yesterday for its second fiscal quarter.
0:54.4	Revenue was down 4% from last year.
0:56.9	iPhone sales fell.
0:58.4	Apple says revenue will grow in its third quarter.
1:01.5	I'm Nancy Marshall Genser with the Marketplace Minute.

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