Is the current job market music to the Fed’s ears?
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 1 August 2023
⏱️ 28 minutes
🧾️ Download transcript
Summary
According to the Job Openings and Labor Turnover survey for June, fewer workers are quitting their jobs and employers are hiring less. But is it all rock ‘n’ roll for the Federal Reserve’s inflation fight, or will it just end up rocky, with a recession? Turns out, the economic anthem of the moment depends on how you read the data. Then: freight shipping woes, Uber’s first-time profit and a blame game over Britain’s cost-of-living crisis.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Marketplace Morning reports new Skin in the Game series explores what we can learn about |
| 0:04.5 | money and careers from the $300 billion video game industry. |
| 0:09.4 | Plus here how an Oakland-based program helps young people get the skills they need to break |
| 0:14.0 | into this booming industry. |
| 0:16.0 | Listen to Skin in the Game and more from the Marketplace Morning report wherever you get |
| 0:20.5 | your podcasts. |
| 0:23.2 | On the program today, the labor market, the freight market, and the climate market. |
| 0:31.8 | From American public media, this is Marketplace. |
| 0:38.0 | In Los Angeles, I'm Kai, Rizdole. |
| 0:46.0 | It is Tuesday today, the very first day of August could as always to have you along, everybody. |
| 0:51.0 | The economic book ends of this week will be jobs, and then it'll be jobs. |
| 0:56.8 | The unemployment report for the month of July will arrive bright and early Friday morning. |
| 1:01.7 | Today it was jolt, the job opening and labor turnover survey, and while nuanced, there |
| 1:08.4 | are some indications therein that the all-important labor market might, within emphasis here on |
| 1:13.2 | might, be slowing. |
| 1:15.8 | Companies are hiring just a bit more slowly than they have been, and people are leaving |
| 1:19.2 | their jobs at a slower rate too. |
| 1:22.6 | Could be music to the Federal Reserve's ears, or it could be more of a cacophony. |
| 1:27.9 | Marketplace's Stephanie Hughes elaborates on that metaphor. |
| 1:31.5 | The anthem of the labor market right now, according to Morgan Stanley economist Sarah Wolf, |
| 1:36.4 | is a journey song from the late 70s. |
| 1:39.0 | You know, like the wheel in the sky keeps on turning. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Marketplace, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Marketplace and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.

