What should reparations look like?
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 5 January 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
Lawmakers in California are gearing up to debate reparations for slavery. But if reparations are politically unviable, what’s the next best thing? In part three of our Golden Promises series, we’ll unpack alternatives, including ones that could help address racial disparities in education, housing, health care and credit scores. Also on the show, the cost of borrowing for a home has gone down sharply.
Transcript
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| 0:00.0 | Look up indefatigable. That right there is your job market. |
| 0:06.0 | I'm David Brancaccio. We just got a stronger than expected jobs report. |
| 0:11.0 | There were 216,000 more people on payrolls in December compared to November. |
| 0:16.8 | Also while the experts were expecting the unemployment rate to rise slightly, it stayed steady |
| 0:21.6 | at a very low 3.7 percent. In Austin economist Julia Coronado |
| 0:25.9 | is founder of macro policy perspectives. Pretty solid. Just keep generating 200,000 jobs month after month after month. |
| 0:34.5 | A lot of them are private sector jobs but in which sectors? |
| 0:38.7 | Well we do actually have a lot of state and local government jobs too. That has been a |
| 0:43.6 | powerhouse as has health care and leave and hospitality. Those three sectors |
| 0:49.3 | really are driving most of the job gains. |
| 0:53.0 | Other sectors, they're not hiring as much as they were at the height of the job market, |
| 0:56.9 | but nor are they firing. |
| 0:58.4 | So healthy job market overall a little bit less strong than last year. |
| 1:04.0 | Players in the bond market think this might delay a cut in interest rates, |
| 1:08.0 | pushing the benchmark 10-year interest rate up to 4.06. |
| 1:11.0 | But other analysts do not think today's data will change the Fed's thinking. |
| 1:15.3 | What counts as good news in the housing market these days is that the median or typical |
| 1:20.2 | monthly payment for a home loan taken out today is almost $400 less than it was just |
| 1:25.8 | two months ago. This has longer-term interest rates slide and that's according to |
| 1:30.4 | the real estate site Redfin. |
| 1:32.6 | Marketplace of Nova Safo has this. |
| 1:34.9 | The median mortgage payment for a home purchased in December |
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