How much is your paycheck really worth?

Marketplace

Business, News

4.6 • 8.5K Ratings

🗓️ 9 October 2023

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Real wages — what’s left in your paycheck after accounting for inflation — have been rising for the last several months. So how does the “what’s coming in” column in your finances spreadsheet compare to the “what’s going out” column? In this episode, we get into the nitty gritty of spending power and what it means for the economy. Plus, the green energy transition needs more workers, the lending business is sour thanks to high interest rates, and the Nobel Prize in economics goes to a gender wage gap expert.

Transcript

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0:00.0	So far, as the global economy keeps an eye on the Middle East, it is too soon to tell.
0:09.2	From American public media, this is Marketplace.
0:22.4	In Los Angeles, I'm Kai, Rizdole.
0:24.0	It is Monday today, October the 9th, good as always, to have you along, everybody.
0:28.6	A brief couple of words here about the events in the Middle East, the past couple of days,
0:33.2	the immediate global reaction to it, and what might happen the longer the fighting goes
0:37.7	on.
0:38.7	The briefest of words, really, the very briefest, because today it's all been knee-jerk
0:42.9	reaction.
0:43.9	Oil is higher, which makes sense.
0:46.0	Stocks finished on the upside in this country, big oil companies, and defense contractors
0:49.9	were higher, also makes sense.
0:52.4	The bond market was closed today for the federal holiday, and when it opens tomorrow, I
0:56.6	want you to think flight to safety.
0:59.8	People are going to be looking for high-quality assets as they do when things get uncertain.
1:03.9	Bond prices will go up, supply demand, so yields, that is, interest rates, are going to
1:09.4	go down.
1:10.4	Again, though, the longer the fighting goes on, the less we know what is going to happen.
1:15.6	Over here in our corner of the news universe, we've got an eye on the calendar last week,
1:19.4	was jobs week.
1:20.4	This week is going to be prices week.
1:22.6	We get the producer price index on Wednesday, that's inflation at the wholesale level.
	...

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