An increasingly anxious U.S. labor market
Make Me Smart
Marketplace
4.6 • 5.5K Ratings
🗓️ 20 August 2024
⏱️ 9 minutes
🧾️ Download transcript
Summary
New survey data from the Federal Reserve Bank of New York shows that the percentage of Americans who expect to get laid off in the next four months has gone up. On the other hand, the share of Americans who expect to get a job offer in the next four months is also up. So what gives? We’ll get into the labor market unease and why the Federal Reserve will be paying close attention. Then, we’ll smile about a new tool that could help prevent death from life threatening injuries.
Here’s everything we talked about today:
- “Expectation of Losing One’s Job at Record High in NY Fed Survey” from Bloomberg
- “More and more Americans are worried they will lose their job” from CNN Business
- “US FDA clears use of Cresilon’s gel to stop severe bleeding in seconds” from Reuters
- Tweet from Jesse Byrnes about errors in the Democratic Party’s 2024 platform
We love to hear from you. Email your comments and questions to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.
Transcript
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| 0:27.0 | Mr Cherry, I believe it is time. to make me smart where we make today makes sense. I'm Kyiv Rizal, thanks for joining us. It is Monday the 19th of August. |
| 0:47.5 | Today we are going to do some news and get to some smiles. We will start with the news news which I realized after I put my little |
| 0:54.6 | Lincoln that was the same story you had. Oh no seriously oh that's so funny I was like I'm |
| 0:58.9 | get mine in early so are we we're doing the news news or that make me smile the same which is news news news okay |
| 1:05.2 | So I'll take part of it and then you can take part of it |
| 1:08.4 | Saw this report in Bloomberg and then I went to the actual source which is an update from the Federal Reserve Bank of New York |
| 1:14.7 | their survey of consumer expectations in which they report I'll just read this the |
| 1:21.2 | share of people who think they are likely to be unemployed over the next four months has reached a record high in New York Fed data that dates back to 2014. |
| 1:31.3 | Now, there is also a rising number of people who expect to receive a job |
| 1:35.1 | offer in the next four months so a little bit of you know one step forward one step |
| 1:38.5 | back but very interesting labor market data as the labor market becomes all the more important |
| 1:44.8 | to the Federal Reserve. You know I was actually suggesting you know a story for |
| 1:51.0 | our morning show that earlier today about tech industry layoffs and just how |
| 1:56.7 | gutted that industry has been and yeah some of it was probably like hey come back to the office wink wink nudge nudge or you'll lose your job and |
| 2:05.8 | then massive layoffs as people were like yeah we're not coming back and they're like |
| 2:09.5 | surprise you don't have a job anymore and I bring this up because you know you last week we were |
... |
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