Tariff fears likely shrunk the GDP

Marketplace All-in-One

Marketplace

News, Business

4.8 • 1.3K Ratings

🗓️ 29 April 2025

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

When new gross domestic product data comes out tomorrow, economists expect we'll see the first GDP contraction in three years. But the report is backward-looking, so if the GDP did shrink, it will be thanks to tariff-related anxiety in the first quarter, rather than actual tariff implementation that kicked off in April. Also in this episode, some workforce stories: Why hiring more FAA air traffic controllers won’t be easy, a worker navigates Wyoming’s trona mining industry and a bathtub helps us understand the labor market differential.

Transcript

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0:37.9	Dot, UK slash Marketplace 22.
0:40.6	Go to Shopify.com.
0:42.3	UK slash Marketplace 22.
0:47.9	Can't really do economics without a little bit of math.
0:52.1	I am sorry to say.
0:54.1	From American Public Media, this is Marketplace.
1:07.5	I'm Kyle. Risdahl. It is Tuesday, today the 29th day of April. Good as always to have you along, everybody. We are going to start today with a formula, but in keeping with the policy of this program and the preferences of its host, we are not going to make you do any actual math. The formula du jour goes like this. C plus I plus G plus G plus X minus M equals GDP.
1:34.1	In layman's terms, C consumption, consumer spending on goods and services, plus I investment,
1:40.2	that's business spending, plus G, that's government spending, plus X, which is exports, minus M imports, equals gross domestic product.
1:49.2	Simplified, if I might, it's C plus I plus G plus net exports equals the entire economy.
1:56.1	Now, why you ask, did I bother with that?
1:59.5	Well, I bothered with that for two reasons.
	...

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