Real wages rebound, while low-income earners play catch-up
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 22 August 2023
⏱️ 28 minutes
🧾️ Download transcript
Summary
Inflation is cooling and real wages are improving, which is good news. But after losing ground to rising prices for so long, low-income households are struggling to catch up financially, leaving them vulnerable to an economic slowdown. Plus, the U.S. dollar weakens as other countries hike interest rates, and the real estate refrain “you can always refinance” stages a comeback.
Transcript
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| 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. |
| 0:21.5 | A dollar here, a dollar there, pretty soon you're talking real money. |
| 0:28.6 | From American public media, this is Marketplace. |
| 0:33.4 | In Los Angeles, I'm Kai, Rizdole, it is Tuesday, today, the 22nd day of August good |
| 0:46.9 | as always to have you along. |
| 0:49.0 | Everybody we have been on this program over the past couple of days talking a lot about |
| 0:53.9 | bonds, about bond yields in particular and how they've been going up. |
| 0:58.4 | Higher interest rates up for a whole lot of reasons. |
| 1:02.0 | But what does that mean to you suppose in real life? |
| 1:05.3 | Well, here's one thing. |
| 1:07.0 | When rates rise in normal times, the US dollar gets stronger, it becomes more attractive |
| 1:11.8 | for traders. |
| 1:13.0 | And for a while, the dollar did get stronger. |
| 1:15.8 | It got so much stronger, in fact, that a lot of big multinationals were complaining that |
| 1:19.8 | the dollar was too strong. |
| 1:22.4 | So stronger was making a dent in their overseas profits, but we have not been hearing |
| 1:27.8 | many of those complaints this year because the dollar has been falling even though interest |
... |
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