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this is recode media peter kofka that is me And today we're going to talk about the economy.

No, no, don't, don't go. You're going to like this. I promise. We've made the economy interesting.

We're really talking about two economies. There's the one in Silicon Valley where thousands of jobs are

disappearing every day and one where many other Americans live and kind of seems okay.

Knocking out wood. So because there's two economies, we want to talk to two different guests. They're both my friends. Look at me. I got cool friends. I've talked to Emily Stewart, who covers the economy and consumers and spending and money for Vox.com. And then I talked to Mike Isaac from the New York Times. It covers Facebook slash Meta, and it really covers Allo Tech. I also got a cameo from Mike's dog, Bruna. Seems pretty cool. Okay, we're going to talk about the economy and job losses, but also optimism. You're going to like it. First up, here's me and Emily Stewart. I'm here with my colleague, Emily Stewart. Welcome, Emily. Thank you for having it. Is this your first recode media appearance? Is that possible? It is. It is. Very exciting. Emily is my colleague at Vox.com. She writes about the economy. I keep sending her story ideas because it's easier for me to assign story ideas to her than write them myself. She's awesome. She's got a newsletter. What's the newsletter called? The big squeeze. The big squeeze. It costs $0.0 and zero cents. You should go subscribe to it now over at Vox.com. Emily, I wanted to have you on because you're the person I asked questions about the economy, about also sometimes the Bachelor, because that's your other area of expertise, is the Bachelor TV show. but let's talk about the economy for now. And I was going to ask you this question, but it turns out it's the headline of your last story, which is, is the economy kind of good now, question mark? And the reason I'm asking is we're going to talk to Mike Isaac about tens of thousands of layoffs in Silicon Valley and tech and there it seems very

brutal and the world is ending and in the rest of the world seems not so bad so

is the economy kind of good now I mean the short answer with a bunch of caveats is

yes the economy is pretty good now the job market is strong despite what you see in the headlines if you look at the last jobs, the economy is pretty good now. The job market is strong, despite what you see in the headlines.

If you look at the last jobs report, the economy added about half of a million jobs in January, which is a lot.

2020 was a really good year for job growth. You know, obviously the elephant in the room here consistently is everybody hates inflation.

Inflation sucks. It makes us angry. But the economy, not in the room here consistently is everybody hates inflation. Inflation sucks. It makes us angry.

But the economy, not in the worst spot.

It's hard to say we're in a recession at this very moment.

Jobs are good unless you're in tech and maybe also in media.

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