Cyclical, secular, seasonal
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 6 December 2024
⏱️ 28 minutes
🧾️ Download transcript
Summary
Federal employment numbers come out Friday, so we’ve got a labor-packed episode. First up, job growth in evergreen or “secular” industries is strong (think health care) while cyclical jobs (think manufacturing) have been stagnant. Then, wage gains are outpacing inflation, but some workers aren’t feelin’ it. We’ll also hear from seasonal employees in Vermont and a mall manager in Montana who’s moving on.
Transcript
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| 1:06.5 | Jobs. That's it. That's the open. From American Public Media, this is Marketplace. |
| 1:17.7 | In Los Angeles, I'm Kai Rizdahl. It is Thursday, today the 5th of December. |
| 1:26.6 | It is always to have you along, everybody. |
| 1:28.8 | It is a labor market trifecta this week. We had the job openings and labor turnover survey on Tuesday. |
| 1:36.3 | ADP's private sector jobs report yesterday. And the government's official unemployment tally for November comes tomorrow. |
| 1:44.1 | And there will be the headline data for sure, the unemployment rate and jobs created today. And the government's official unemployment tally for November comes tomorrow. |
| 1:48.0 | And there will be the headline data for sure, the unemployment rate and jobs created. |
| 1:52.9 | But it's going to be important to pay attention to the kinds of jobs being created, too. |
| 2:01.9 | Because as Marketplace's Justin Ho reports, the kinds of jobs this economy is generating and the kind it isn't can tell us a whole bunch about this economy. |
| 2:07.9 | One way to think about the labor market is to break it up into two categories. Jobs in sectors that ebb and flow with the cycles of the economy, call them cyclical jobs, and jobs in sectors that |
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