How healthy is the job market on the eve of the election?
Marketplace Morning Report
Marketplace
4.5 • 928 Ratings
🗓️ 28 October 2024
⏱️ 7 minutes
🧾️ Download transcript
Summary
With election day just about a week away, the economy and its overall health are on the ballot in all but name. We check in with Julia Coronado, founder of MacroPolicy Perspectives, about how the labor market is looking amid shocks like hurricanes that have wracked the South. Plus, a glimpse at why childcare costs are so high across the country. And, the BBC’s Lisa Louis reports on a massive project that promises to link the Baltic countries of Lithuania, Latvia, and Estonia by rail.
Transcript
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| 0:00.0 | The dramatically high cost of child care in America. At the end of this week, four days before the |
| 0:07.7 | presidential election, we'll get the official reading on hiring and unemployment covering the month |
| 0:12.5 | we're in now. Economist Julia Coronado is founder of macro policy perspectives. Good morning. |
| 0:18.2 | Good morning. Well, they'll get it in the first day of the new month. We had a very |
| 0:23.2 | strong jobs report a month ago. This time, maybe a little weaker. Yeah, consensus is expecting |
| 0:30.3 | a weak report to about 100,000 jobs for two reasons, two special factors. A strike at Boeing is going to |
| 0:37.3 | affect about 40 to 45,000 workers, |
| 0:40.7 | and hurricanes came through and are likely to have sidelined some people at least temporarily. |
| 0:47.3 | All right. So a lot of noise in that report that comes out, so it may not give us a full picture |
| 0:53.4 | exactly where the labor market is. |
| 0:55.5 | That's right. It's going to take us a couple of months to sort through the noise. And basically, |
| 1:00.1 | the market thinks the Fed's going to move ahead with the next rate cut, fully priced a little bit |
| 1:05.7 | slower, a quarter of a percentage point instead of half a percentage point like they did last time. |
| 1:11.9 | But the market betting that's going to remain calm through this noise and just move forward with |
| 1:16.7 | its plan. |
| 1:18.0 | Economist Julia Coronado is also a professor at the University of Texas. Austin. Thank you. |
| 1:22.9 | My pleasure. |
| 1:24.4 | The Dow in early trading is up 318 points, 8 tenths of a percent. The S&P and the NASDAQ |
| 1:30.2 | reach up four tenths of a percent. Full-time minding of infants at daycare centers costs at least |
| 1:36.6 | 10 percent of a family's income in almost every state. That is from a survey from the personal |
| 1:41.9 | finance site, Bank Rate. Marketplaces Nancy Marshall |
| 1:44.8 | Genser has that. The bank rate study says in the least affordable states like Hawaii and New York, |
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