The "stuck economy," tariffs and Wall Street
Marketplace
American Public Media
4.6 • 8K Ratings
🗓️ 30 September 2025
⏱️ 26 minutes
🧾️ Download transcript
Summary
While the stock market appears unconcerned about potential red flags in this economy, the bond market's a bit more cautious. As Washington nears a shutdown and the labor market flags, Treasury yields are ticking down. But demand for those safer, long-term bonds hasn’t been uniform. Plus: Trump adds to existing tariffs on Canadian lumber, OpenAI wades into e-commerce waters, and Abha Bhattarai at the Washington Post talks about the “stuck economy.”
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Transcript
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| 0:00.0 | You can turn to Marketplace to hear from powerful leaders and everyday people about the economy and their roles in it. |
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| 0:31.6 | The job market could make or break the economy right now. So how are we supposed to figure out |
| 0:37.3 | what's going on if there is |
| 0:39.2 | no jobs data? From American Public Media, this is Marketplace. |
| 0:47.7 | In New York, I'm Kristen Schwab and for Kyrisdal. It's Tuesday, September 30th. Good to have you along. |
| 0:58.8 | This is supposed to be a big week for jobs data. I say supposed to because as of this broadcast, the government is heading toward a shutdown. |
| 1:09.2 | If Congress and the president don't make a deal by midnight, |
| 1:12.7 | all non-essential operations will pause. That means thousands of federal workers will be furloughed, |
| 1:19.3 | including the people at the Bureau of Labor Statistics who work on the monthly jobs report |
| 1:24.2 | that's scheduled to come out this Friday. No workers means no job report. |
| 1:29.8 | To talk about what all this means, we called up Martha Gimble. She's the executive director of the |
| 1:34.4 | Budget Lab at Yale. Martha, thanks for being here. Thanks so much for having me. |
| 1:40.0 | So before we get to everything I just talked about with Friday Jobs Report, let's talk about some |
| 1:45.3 | labor market we do have, data we do have that we got today, the job openings and labor |
| 1:50.3 | turnover survey for August. What did you make of it? So the thing that we saw from that survey, |
| 1:57.1 | which we like to call joltz, is a real slowdown in hiring. There's not a huge amount |
| 2:04.7 | of firing that's going on in this labor market right now. So if you've got a job and you're |
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