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We are once again talking jobs on this program.

From American public media, this is Marketplace.

In Los Angeles, I'm Kyle Rizzo, it is Monday to day 23 January.

Good as it always is to have you along, everybody.

You know, it's not a secret that we heard Marketplace put significant emphasis on jobs.

People have them, people keep them, and what happens if people lose them.

So with today's announcement that Spotify is going to be laying off about 6% of its workforce, jobs is where we are going to begin.

Microsoft, Amazon, Salesforce, Wayfair, Alphabet, the list goes on all of them cutting jobs.

At the very same time, though, the unemployment rate, as you know, is back to 3.5%, a 50-year low.

And first time claims for jobless benefits, which can be a pretty good indicator of which way unemployment is trending.

Those claims are really low and they are falling.

So from the Marketplace desk of what is up with all of that, here's Marketplace's Mitchell Harman.

Typically, when the economy slows down and companies respond by laying off lots of workers,

claims for unemployment compensation spike.

It's happened before with recessions looming.

...