An underwhelming June jobs report
Marketplace
Marketplace
4.6 • 8.6K Ratings
🗓️ 2 July 2026
⏱️ 28 minutes
🧾️ Download transcript
Summary
The Labor Department’s June jobs report came in with just 57,000 new jobs added. Economists expected double that, and while the unemployment rate ticked down, we consider why job growth may be middling. Also in this episode, we look at stagnant wage growth, a start-up that’s looking to de-extinct the woolly mammoth, the “lump of labor” fallacy, Saudi Aramco’s World Cup sponsorship, and a social worker who leads tours to supplement retirement.
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Transcript
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| 0:00.0 | on all of it with me alison stewart will talk about art music theater literature history food |
| 0:09.8 | well all of it hear in-depth insightful interviews with authors like zadie smith musicians like |
| 0:17.1 | steve earle actors like Kate Winslet and beyond. |
| 0:25.6 | You never know who you'll hear next on all of it, but it's always worth listening. |
| 0:28.9 | That's all of it, available wherever you get your podcasts. |
| 0:34.0 | You know, it was fine. |
| 0:36.2 | Me, so-so. |
| 0:40.5 | I mean, you pick your own word to describe today's jobs report. |
| 0:45.9 | From American public media, this is Market Plans. |
| 0:57.0 | In Los Angeles, I'm Kyle Rizzdahl. |
| 0:59.3 | It is Thursday, today the 2nd of July. |
| 1:01.0 | Good as always, Debbie along, everybody. |
| 1:04.0 | Here's another one for your consideration. |
| 1:07.7 | Today's June jobs report was Fair to Midland. |
| 1:12.7 | There was a decidedly underwhelming number of new jobs added to this economy last month, just 57,000, basically half of the best guesses, and April and May were revised down |
| 1:19.8 | as well. The unemployment rate, meanwhile, did scoot down to 10th percent, 4.2 percent, the lowest |
| 1:25.4 | in a year. Was it all mean? Marketplace is Mitchell Hartman |
| 1:29.8 | gets us going. There's a fair amount you can spin as upbeat in the June report, says Sel Guaccheri |
| 1:35.4 | at BMO Capital Markets. We're not seeing widespread layoffs. That's a good thing, and the |
| 1:40.6 | unemployment rate has ticked down. Though it's mostly for the wrong reason, says Nicole Besho at ZipRecruiter. |
| 1:47.9 | Unemployment dropping back to 4.2% can seem good, but it fell because there are fewer people |
| 1:54.4 | in the labor market as folks are exiting entirely. |
... |
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