Jobs Up, Vibes Down: Why Economic Data Doesn’t Match How We Feel

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 11 September 2024

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

Learn why the economy feels worse than the data suggests, and what the latest jobs report means for interest rates. Why do people feel negative about the economy even when the data says it’s doing well? How could upcoming changes to interest rates affect your personal finances? Hosts Sean Pyles and Anna Helhoski dive into the latest job market data and discuss why it’s so hard to tell whether the economy is doing well or not. Joined by NerdWallet Senior Economist Elizabeth Renter, they unpack the mixed messaging in headlines, explain why consumer sentiment doesn’t always align with economic data, and give an inside look into what the latest numbers mean for the future of interest rates. If you’ve ever wondered why good numbers sometimes still feel bad, then this episode is for you. After their deep dive into the economy, Sean and Anna break down the latest money headlines, including Apple's newest product unveilings, why you may want to think twice before upgrading your gadgets, and how more people are joining the ranks of 401k millionaires. Are you on track for your golden years? NerdWallet’s retirement calculator can help you make a plan to reach your savings goals: https://www.nerdwallet.com/calculator/retirement-calculator In their conversation, the Nerds discuss: economic data, consumer sentiment, jobs report, interest rates, Federal Reserve, inflation, economic news, job market, 401k savings, Apple product launch, unemployment rate, stock market, economic growth, recession, financial planning, personal finance, retirement savings, labor market, wage growth, inflation rates, money management, federal interest rates, Apple iPhone, economic forecast, economic trends, money headlines, and job growth. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Ready to launch your business? Get started with the commerce platform made for entrepreneurs.
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0:22.8	entrepreneurs like you. Sign up for your $1 a month trial at Shopify.com slash setup.
0:32.6	Welcome to NerdWallet's Smart Money podcast. I'm Sean Piles.
0:40.0	And I'm Onahil Hoski.
0:41.6	And this is our weekly Money News Roundup, where we break down the latest in the world of finance to help you be smarter with your money.
0:48.3	We'll go deep into a single topic and then leave you with the latest money headlines.
0:53.0	Today we're taking a look at the economy writ large.
0:56.0	How's it going out there?
0:57.4	It's going.
0:58.5	Well, your mileage may vary.
1:00.7	Even the headlines differ on how we're doing.
1:02.9	So we're joined by Nervwald's senior economist Elizabeth Renter
1:06.4	to help us sort through the data
1:07.8	and why it doesn't seem to jive with how folks are feeling across
1:11.2	the country. Elizabeth's work has been cited by the New York Times, CNBC, The Washington Post,
1:17.2	and elsewhere. Elizabeth, welcome back to the show. Thanks, Anna. I'm super excited to be here and chat
1:22.2	about this topic. So, Elizabeth, you wrote a story recently that asked why people feel bad when the economy is good.
1:29.4	This is a question economists have been asking for a couple of years now, and I'd like to submit
1:34.5	that part of it is the mixed messaging on the part of headlines, like the ones I saw last week
	...

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