What to expect when you’re expecting a jobs report
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 7 June 2024
⏱️ 9 minutes
🧾️ Download transcript
Summary
How many people got hired and how many people were unemployed last month? We’ll find that out later this morning when the government releases U.S. jobs numbers. Economists are predicting hiring remained steady compared to the month before. We’ll hear why the figures are important to the Federal Reserve, as well as what they hint about AI’s impact on the workforce. Plus, how can cities get out of “a real estate doom loop?”
Transcript
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| 0:00.0 | Hi, I'm PJ Vote, here to tell you about my new podcast Search Engine. |
| 0:05.0 | Search Engine was one of the very best new podcasts of 2023, |
| 0:10.0 | according to Vulture, Vogue, Time magazine, and The Economist, we answer fascinating questions about business, tech, and history. |
| 0:18.0 | Questions like, why are drug dealers putting fentanyl on everything? |
| 0:22.0 | Who should be in charge of artificial intelligence? |
| 0:24.8 | How did ADHD medication get so popular, so fast? |
| 0:28.8 | Listen and follow a search engine with PJVote in Odyssey Podcast. Available now on the Odyssey app or wherever you get your podcasts. |
| 0:37.0 | How hot is that labor market of ours? We're going to find out from Marketplace. I'm |
| 0:49.5 | Sabrie Beneshore in for David Brancaccio. How many people were unemployed last month? |
| 0:56.7 | We will find that out in just under two hours when the government releases US jobs numbers. |
| 1:01.2 | Economists are predicting hiring remained about steady compared to the month |
| 1:05.0 | before, but you know, who knows. These numbers are important to the Federal Reserve because |
| 1:10.0 | the labor market is a key puzzle piece in its plan to fight inflation. |
| 1:14.4 | Marketplace is Nancy Marshall Genser has more. |
| 1:17.3 | Economists polled by Reuters predict that 185,000 jobs were created last month. |
| 1:22.8 | That would be up just slightly from April when there were 175,000 new jobs. |
| 1:28.2 | The unemployment rate is expected to remain unchanged at 3.9%. There are signs that small businesses are hiring fewer people |
| 1:36.6 | and wage gains are expected to stay where they are. The number of workers quitting |
| 1:40.7 | their jobs is down and the ratio of jobs to available workers is getting back to |
| 1:45.4 | normal. At one point in the pandemic there were almost two job openings for |
| 1:49.6 | every unemployed person. That means employers had to raise wages to attract job |
| 1:54.1 | applicants contributing to inflation. A softening jobs market would help the |
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