Not too hot, not too cold: a 'Goldilocks' jobs report

The Indicator from Planet Money

NPR

Business

4.7 • 9.5K Ratings

🗓️ 3 May 2024

⏱️ 11 minutes

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Summary

It's Jobs Friday and the jobs report is in! There's more jobs! ... but not as many as expected. And there's a teensy bit more unemployment and slower wage growth. But there's an upside ... Plus, healthcare is growing like gangbusters and how immigrants affect American-born workers.

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Transcript

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0:00.0	NPR. This is the indicator from planet money. I'm Darren Woods. I'm Wailin Wong and I'm Adrian Ma and it's
0:17.8	Jobs Friday. Oh yeah!
0:20.4	Whoo T G I J. Yes, it's Jobs Friday when we reach into the latest jobs report from the Bureau of Labor Statistics, the BLS, and we find insights into how the US economy is working for regular people.
0:36.2	So we've got the jobs numbers and the economy added 175,000 new jobs last month.
0:44.4	Now, this is much lower than expected.
0:46.8	The unemployment rate ticked up a tenth of a percent
0:49.7	to 3.9 percent, and wage growth was also slower than expected.
0:55.0	All of it points to a cooling in the labor market.
0:58.0	But if you look at the job situation from a macroeconomic angle,
1:02.0	especially from the inflation reduction side of things
1:05.2	this could actually have some good news. Yeah so instead of the the normal jobs
1:11.7	Friday airhorn, you know,
1:13.2	bea bea bea.
1:14.4	Maybe we get a bu.
1:19.3	Just one little beu.
1:20.7	little bue.
1:21.3	A little clack.
1:21.7	Bue. Erehore. little quack. Aye. Bewe?
1:24.0	A-horn?
1:25.0	Today on the show we're going to explain why and we'll also have some other indicators that
1:30.4	explain what's going on in the US jobs market right now.
1:34.4	All that, after the break.
	...

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