Health care is still hot in the job market

Marketplace

News, Business

4.6 • 8.5K Ratings

🗓️ 9 July 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

The job market has cooled in recent months. The days of two openings per available worker may be over, but some sectors still have to struggle to find employees. One industry on a hot streak is health care, thanks in part to the continued workforce disruptions caused by COVID. Also in this episode: Small-business optimism rises despite cost concerns, tweens concoct potentially harmful “skin care smoothies” and steel prices sag as demand drops.

Transcript

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1:00.0	Today we'll talk jobs and how the business owners who create a lot of those jobs are
1:05.2	feeling about the economy.
1:07.3	From American public media, July 9th. Good to have you with us. Federal Reserve Chair
1:25.8	Jerome Powell took to Capitol Hill this morning for day one of his semi-annual remarks. By now,
1:31.8	economists and traders have probably already spent some time parsing over
1:35.8	his every word trying to interpret what they mean for rate cuts. Reminder, a more data-driven signal comes out on Thursday with the latest consumer price index.
1:45.9	We'll leave the grand projections about interest rates alone and bring you this point Powell made
1:51.0	about a key source of inflation jobs. We've seen that the labor
1:55.2	market has cooled really significantly across so many measures and a number of
2:01.2	people here today have pointed them out but the
2:03.9	unemployment rate has moved up you see a labor market that is now pretty much in
2:08.0	balance pretty much where it was in 2019 it's not a source of broad
2:12.4	inflationary pressures for the economy now.
2:15.0	Remember, the June jobs report showed unemployment ticked up to 4.1%, which is still pretty low.
2:22.0	Here's the thing about the job market, though. 1%, which is still pretty low.
	...

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