How healthy is the job market on the eve of the election?
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 28 October 2024
⏱️ 7 minutes
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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. |
| 0:05.0 | At the end of this week, four days before the presidential election, |
| 0:09.0 | will get the official reading on hiring and unemployment covering the month we're in now. |
| 0:13.0 | Economist Julia Coronado is founder of macro policy perspectives. |
| 0:17.0 | Good morning. |
| 0:18.0 | Good morning. |
| 0:19.0 | Well, they'll get it in the first day of the new month. |
| 0:22.0 | We had a very strong jobs report a month ago this time |
| 0:25.8 | maybe a little weaker. Yeah consensus is expecting a week report to about a |
| 0:32.0 | hundred thousand jobs for two reasons, two special |
| 0:35.1 | factors. A strike at Boeing is going to affect about 40 to 45,000 workers and |
| 0:40.6 | hurricanes came through and are likely to have sidelines some people at least |
| 0:46.0 | temporarily. |
| 0:47.0 | All right, so a lot of noise in that report that comes out so it may not give us a full picture |
| 0:53.3 | exactly where the labor market is. That's right it's going to take us a couple of |
| 0:57.2 | months to sort through the noise and basically the market thinks the Fed's |
| 1:01.3 | going to move ahead with the next rate cut, fully priced a little |
| 1:05.5 | bit slower, a quarter of a percentage point instead of half a percentage point like they did last time. |
| 1:12.1 | But the market's betting the Fed's going to remain |
| 1:13.9 | calm through this noise and just move forward with its plan. |
| 1:17.3 | The economist Julia Coronado is also a professor at the University of Texas Austin. Thank |
| 1:22.3 | you. My pleasure. The Dow in early |
... |
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