The Indicator from Planet Money

It’s … Indicators of the Week! Our rapid run through the numbers you need to know.  On today’s episode: John Legend croons; CPI inflation soothes; Same job as mom? You’ll earn more, dude; Apple vs. Apple, a courtroom feud. Related episodes:  Why every A-lister also has a side hustle  The DOJ's case against Apple  The Intergenerational Transmission of Employers and the Earnings of Young WorkersFor sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 15 August 2025

Seemingly every celebrity has their own brand these days, whether it’s booze (Cameron Diaz, Matthew McConaughey) or cosmetics (Selena Gomez, Lady Gaga) or squeezy food pouches (Jennifer Garner). Today on the show, what is fueling the celebrity business bonanza? We hear from two legendary singers, Lisa Loeb AND John Legend, who are pursuing ventures outside of show business. Related episodes: The celebrity crypto nexus The Olympian to influencer pipeline (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 14 August 2025

Trump’s tax and spending law makes the largest cut in history to one of the nation’s biggest safety net programs. Today on the show, we explore how cuts to the Supplemental Nutrition Assistance Program, also known as SNAP, impacts families and grocery stores alike.  Based on the digital story: Independent grocery stores have had a tough five years. SNAP cuts will make it harder Related episodes: Do work requirements help SNAP people out of government aid? When SNAP Gets Squeezed The trouble with water discounts For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 13 August 2025

Insulin needles. Sleeping bags. Nutella. These are items Arwa Damon’s charity — International Network for Aid, Relief and Assistance — has tried to send to Gaza and Israel has rejected. It’s a glimpse into the harsh reality of a humanitarian crisis with no end in sight. Today on the show, we talk to Damon about the economics of running a humanitarian nonprofit and what’s stopping more aid from reaching Gaza.  Related episodes:  Why Israel uses diaspora bonds  Why the U.S. helps pay for Israel’s military  What could convince Egypt to take Gaza’s refugees? For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.  Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 12 August 2025

It's time for our annual beach reading recs. Today we bring you three books, with a little economic learning to boot. Our recs: Who is Government? The Untold Story of Public Service by Michael Lewis El Dorado Drive by Megan Abbott Algospeak: How Social Media is Transforming the Future of Language by Adam Aleksic Related episodes: Beach reading with a side of economics How to beach on a budget How to beach on a budget For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 11 August 2025

It's ... Indicators of the Week! Our weekly look at some of the most fascinating economic numbers from the news. On today's episode: Palantir crosses a billion dollars in quarterly revenue (what do they actually do again?); mRNA vaccine research gets a big cut in RFK Jr's health department; and a climate disaster database gets a new lease on life. Related episodes: How Palantir, the secretive tech company, is rising in the Trump era An indicator lost: big disaster costs Moonshot in the arm For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez and Cooper Katz McKim. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 8 August 2025

President Trump's new round of tariffs took effect today. It will bring in billions of dollars to the government, in part paid for by U.S. importers who can decide whether to pass that cost onto American families. But are these tariffs legal? Today on the show, the arguments for and against the president's tariffs and what happens to that tariff revenue if Trump loses. Related episodes: Trump's tariff role model Dealmaker Don v. Tariff Man Trump Are Trump's tariffs legal? For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 7 August 2025

Why do revisions to the jobs report happen? Today on the show, we speak with a former Commissioner of the Bureau of Labor Statistics about why revisions occur and how we should interpret the monthly report's actual message. Related episodes: Can we still trust the monthly jobs report? (Update) What really goes on at the Bureau of Labor Statistics (Update) ​​How you're using AI at work For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 6 August 2025

Since his return to office, President Trump has waged something of a pressure campaign on economic data and the people in charge of delivering it. His firing of the Bureau of Labor Statistics commissioner following a weak jobs report now has some wondering: can we still trust the official numbers? Today on the show, we're resharing our conversation with former BLS commissioner, Erica Groshen on her current fears for the integrity of government data. The original version of this story aired March 7, 2025. Related: What really goes on at the Bureau of Labor Statistics? (Update) (Apple / Spotify) Would you trust an economist with your economy? (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 5 August 2025

On Friday, we reported on the latest jobs numbers from the Bureau of Labor Statistics, which showed weaker than expected growth. On Friday afternoon, President Trump fired the person in charge of those numbers. The monthly jobs report is a critical tool for the economy, used by businesses to make decisions and the Federal Reserve to set rates. So how exactly are those figures collected? Today, we're re-airing our behind-the-scenes look at how the BLS puts together the jobs report ... one call at a time. This show originally aired June 6, 2022. Related: Can we trust the monthly jobs report? Would you trust an economist with your economy? For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez and Corey Bridges. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 4 August 2025

AI is a hot topic for both employers and employees in the workforce. That's why we wanted to hear from our listeners about how they are using AI at work. Today on the show, we explore the good, the bad and the ugly of AI in the workplace. Related episodes: Is AI overrated? Is AI underrated? For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 1 August 2025

The Fed is on the hook for an estimated one-and-a-half trillion dollars. Despite the recent headlines, that's not because of building renovations. It's a much larger cost blowout caused by big actions taken during the pandemic to help the economy: quantitative easing. Today on the show, we talk to both a critic of these actions and someone who helped put those those actions in play. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 31 July 2025

Private equity is a risky business. There are high-highs and low-lows. A retirement plan, on the other hand, is meant to be a reliable beast. But President Trump believes your 401(k) can handle it! On today's show, the president's expected executive order could help offer some legal cover for fund managers who include private equity in your retirement portfolio. What are the risks and benefits? Related episodes: The Prudent Man Rule (Apple / Spotify) Carried interest wormhole (Apple / Spotify) Let's party like it's NVIDIA earnings report day! (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 30 July 2025

BRICS is an economic alliance of countries that includes Brazil, Russia, India, China, South Africa and several other nations. They met earlier this month to discuss everything from international law to global health. President Trump, however, is not a fan of BRICS and threatened members with increased tariffs. So why has this alliance generated so much animosity from the President? Today on the show, we talk to the economist who coined the term "BRICs" about the origins of the group and why the international economic organizations have been western dominated for so long. Related episodes: China's trade war perspective Is the US pushing countries towards China? For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 29 July 2025

Baby bond fever is catching on. In recent years, states like Connecticut have been experimenting with giving newborns government-seeded accounts that grow tax-free until they are 18. Now, President Trump's signature tax and spending bill will give a thousand dollars to every U.S.-born baby through 2028. On today's show, what are baby bonds and could they help tackle wealth inequality? Related: Baby bonds, proportional representation, and no left turns Could cash payments ease recessions? Building generational wealth in rural America For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Cooper Katz McKim. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 28 July 2025

It's ... Indicators of the Week! Our weekly look at some of the most fascinating economic numbers from the news. On today's episode: Nigeria gets a GDP surprise, Magic the Gathering mutes tariff impact for Hasbro, and Bitcoin reaches record highs following the passage of the GENIUS Act. Related episodes: How stable is Stablecoin? (Apple / Spotify) Episode 609: The Curse Of The Black Lotus For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 25 July 2025

It's the Beigie Awards, our eight times a year salute to the art and science of telling stories about the economy. The most recent Beige Book shows that Americans are finding ways to spend less money ... including on their vacations. On today's show, we find out what Benjamin Franklin and Jersey Beach goers have in common. Related episodes: How many times can you say uncertainty in one economic report? Trump's cuts come for food banks The secret tariff-free zone For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 24 July 2025

The quintessential American economic myth is that the free market picks winners and losers. But the federal government has long had a role in this equation, from the current administration all the way back to the Great Depression. Today on the show, we uncover the history of the country's national investment bank, which shaped the relationship between the government and the market in ways that are still felt today. Check out Chris Hughes Substack Related episodes: The day Russia adopted the free market (Apple / Spotify) Giant vacuums and other government climate bets (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Julia Ritchey. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 23 July 2025

Despite presidential saber rattling and huge tariff threats, the U.S. stock market keeps reaching record highs. Why? Today we sit down with the man who coined the acronym TACO (Trump Always Chickens Out) and chew through several hypotheses. (Over tacos, of course.) Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 22 July 2025

Once upon a time, the states had a thriving tinned fish market. Like a lot of U.S. manufacturing though, that's been lost. But sardines are having a moment right now and that may help a growing effort to resurrect this lost industry. Related episodes: Why do shrimpers like tariffs (Apple / Spotify) When a staple becomes a luxury (Apple / Spotify) We're gonna need a bigger boat-building industry (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 21 July 2025

To cap off our weeklong series on all things Hollywood, we're going to have a little fun! Tune in to hear Adrian, Darian and Wailin battle it out as they try to name movies based on cryptic descriptions of the businesses featured in them. You can play along! Related episodes: When is cosplay a crime? The story of China and Hollywood's big-screen romance Why aren't filmmakers shooting in LA? Before La La Land there was Fort Lee, New Jersey For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 20 July 2025

Act now to ensure public media remains free and accessible to all. Your donation will help this essential American service survive and thrive. Visit donate.npr.org now. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 18 July 2025

The movies come to Indicators of the Week. We dig into why one film is letting you reserve tickets a whole year in advance, what ticket prices might tell us about tariffs and inflation, and how Los Angeles might be cutting back on the red tape when it comes to making movies there. Related episodes: Why aren't filmmakers shooting in LA? (Apple / Spotify) The story of China and Hollywood's big-screen romance (Apple / Spotify) When is cosplay a crime? (Apple / Spotify) Before La La Land, there was Fort Lee, New Jersey (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Julia Ritchey. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 18 July 2025

Cosplay—or dressing up as your favorite character from pop culture—is fun! But it can fall into a legal gray area when it comes to companies' intellectual property. Today on the show: a group of cosplayers, Lucasfilm(!), a lawyer, and finding economic symbiosis in order to express yourself. Related episodes: Before La La Land there was Fort Lee, New Jersey (Apple / Spotify) Why aren't filmmakers shooting in LA? (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 17 July 2025

No country can come close to the amount of money Americans spend at the box office each year ... that is, until China came along. The US and Chinese film industries have a long intertwined history, with shifting power dynamics. Today on the show, we continue our week-long look at the movie business as we explore the on-and-off romance between Hollywood and China's film industries. Related episodes: Why aren't filmmakers shooting in LA? (Apple / Spotify) Before La La Land there was Fort Lee, New Jersey (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 16 July 2025

Despite being, ya know, Hollywood, more and more movies and TV shows are shooting outside of Tinseltown. Dozens of U.S. states and many countries offer subsidies for film production. This has drawn filmmakers away from L.A. and led to historically low levels of shooting activity in recent years in the city. After the COVID shutdowns, labor strikes, and January's devastating wildfires ... what can bring back LA's film industry? Related episodes: Before La La Land there was Fort Lee, New Jersey (Apple / Spotify) Why residuals are taking center stage in actors' strike (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 15 July 2025

Hollywood, baby! The glitz! The glamour! The ever-changing business models! This week, The Indicator is going to the movies. Starting today with the history of Hollywood and where it began.... New Jersey! Related episode: The Origin Of The Oscars For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 14 July 2025

We are back with Indicators of the Week! Today, we'll be digging into why U.S. professional gamblers are worried about their future, why businesses might start investing more in research and development, and why cancelling your subscriptions is going to remain difficult. Related episodes: How sports gambling blew up (Apple / Spotify) The cautionary tale of a recovering day trading addict (Apple / Spotify) The 'Planet Money' team examines the subscription trap For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 11 July 2025

Many small businesses are online now, but so are cyber criminals trying to take advantage. On today's show, how one bar owner fell victim to a Facebook scam and if big tech could do more to protect small business owners from increasing cyber attacks. Read Stephan's original piece. Related: The secret world of those scammy text messages After being scammed, one woman tries to get her money back For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 10 July 2025

We are just at the start of hurricane season, and we're already seeing the danger and tragedy brought on by storms. There's another cost that gets much less attention, but it's a gamble everyone in the path of a storm has to make. Today on the show, we examine the decision on whether or not to evacuate from an oncoming disaster. Based on the digital story: 1 reason people don't evacuate for hurricanes? Rising costs, and they're getting pricier Related episodes: Hazard maps: The curse of knowledge Unintended Consequences, Hidden Deaths The brewing recovery in Western North Carolina For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 9 July 2025

The One Big Beautiful Bill Act is now law. It's expected to cost the government a pretty penny. The Congressional Budget Office predicts a $3.4 trillion increase in the deficit over ten years. This is driven by significant tax cuts, including extensions of those made in 2017. Trump's advisors argue the tax cuts will pay for themselves. Today on the show, we speak with the guru on that school of thought, Arthur Laffer, and dig into some of those claims with a tax economist. Related episodes: The simple math of the big bill (Apple / Spotify) What's going to happen to the Trump tax cuts? (Apple / Spotify) So, how's this No Tax On Tips thing gonna go? (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Corey Bridges. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 8 July 2025

In the U.S., we insure most everything we sell. So why not trees? Today on the show why trees aren't insured like other crops, and what it would take to get that insurance with extreme weather events on the rise. Related episodes: When insurers can't get insurance (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Tyler Jones. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 7 July 2025

This episode was first published as a bonus episode for our Planet Money+ listeners. Today, we're making it available for everyone! U.S. aid helped Eswatini and Lesotho, two small countries in southern Africa, in their efforts to treat and curb the spread of HIV. Will President Trump's "America First" foreign policy threaten years of progress there against the virus? In this bonus episode, we're featuring an extended conversation between Darian Woods and Jon Cohen, senior correspondent with Science magazine. They talk about Jon's reporting trip to Eswatini and Lesotho in May and the early impacts he saw of the Trump administration's foreign aid cuts. We also hear about the critical role of PEPFAR (the U.S. President's Emergency Plan For AIDS Relief) in the global response to HIV/AIDS and some other things we couldn't fit into the original episode. You can read Jon's recent article in Science magazine here. To hear more bonus episodes like this, and get Planet Money and The Indicator without sponsor messages, support the show by signing up for Planet Money+. This summer, we're also giving Planet Money+ supporters early access to new episodes. Another reason to join! Sign up via Apple Podcasts or at plus.npr.org. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 4 July 2025

The Trump administration's crackdown on immigrants might be the most profound change in the American labor market right now. Industries that rely on immigrant labor are especially vulnerable, as ICE continues to raid businesses believed to have unauthorized workers. Today on the show, we talk to representatives from the agriculture, construction and long-term care industries to ask: Are people still showing up to work? Related episodes: What's missing in the immigration debate Is the 'border crisis' actually a 'labor market crisis?' For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Translation help by Ella Feldman. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 3 July 2025

We are back with another edition of listener questions! In this round, we tackle recession pop, why the job market feels so crummy for IT grads, and whether President Trump saying that Walmart "eat the tariffs" is a form of price control. Related episodes: Hits of the Dips: Songs of recessions past (Apple / Spotify) The beef over price controls Price Controls, Black Markets, and Skimpflation: The WWII Battle Against Inflation For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 2 July 2025

Over the past century, the world's human population has exploded from around 2 billion to 8 billion. Meanwhile, the average fertility rate has gradually declined. And if that trend continues as it has, we may soon see a crash in the population rate, which some argue could have disastrous effects. Today on the show, we talk to co-authors Michael Geruso and Dean Spears about their forthcoming book After the Spike: Population, Progress, and the Case for People. Together, they explain why you should care about declining fertility rates. Related episodes: Babies v climate change; AI v IP; bonds v world For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 1 July 2025

Whether you're watching Love Island in an RV or streaming a playlist in a remote California campground, if you're using satellite internet, odds are you're using Elon Musk's Starlink. Today on the show, we learn how Starlink got such a big lead in the satellite market and if it can stay ahead of the European Union, China, and, of course, Jeff Bezos. Related episodes: Elon's giant rocket Why I joined DOGE (Apple/Spotify) Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 30 June 2025

It's ... Indicators of the Week! Our weekly look at some of the most fascinating economic numbers from the news. On today's episode: Could more babies change the climate in a big way? Why did a U.S. judge side with AI company Anthropic? And why is the bond market so chill these days? Related episodes: Artists vs. AI You told us how tariffs are affecting you (Apple/Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 27 June 2025

During World War II, the U.S. shipbuilding industry flourished. Now, it's nearly non-existent. China is the dominant shipbuilder in the world economy. On today's show, we look at what happened to American shipbuilding and the protectionist impulses that could stifle a revival. Related episodes: Will Iran block the Strait of Hormuz? The great turnaround in shipping The wide open possibility of the high seas For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Tyler Jones. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 26 June 2025

What's the price to save a human life? We examine the monumental legacy of the U.S. President's Emergency Plan For AIDS Relief (PEPFAR) with journalist Jon Cohen, who traveled to Eswatini and Lesotho to learn how cuts under the Trump Administration are hitting people at the clinic door. Related episodes: The gutting of USAID How USAID cuts hurts farmers For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 25 June 2025

The world has held a close eye on the Strait of Hormuz lately with Israeli and U.S. strikes on Iran. Nearly a quarter of the world's seaborne oil passes through the narrow waterway, and many are worried Iran could shut the strait down. Today on the show, we explore what it would mean for Iran to close off the strait, and what insurance could tell us about tensions in the Middle East. Related episodes: Oil prices and the Israel-Hamas war (Apple / Spotify) How the 'shadow fleet' helps Russia skirt sanctions (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 24 June 2025

Americans like to spend money. In fact, we spend more per person than almost any other country in the world. So, we wanted to know how an uncertain economy is affecting that. Today on the show, we hear from consumers directly on how their spending habits have changed the past few months. Related episodes: How's ... everybody doing? (Apple / Spotify) Three ways consumers are feeling the pinch (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 23 June 2025

It's ... Indicators of the Week! Our weekly look at some of the most fascinating economic numbers from the news. On today's episode: the Senate passes the GENIUS Act, the SALT cap might be DOA in the OBBB, and a gender split on the state of the economy. Related episodes: How stable is Stablecoin? (Apple / Spotify) Feeling inflation in the grocery store For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Tyler Jones. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 20 June 2025

Last week, the U.S. Treasury held an auction for 30-year bonds. Some were worried no one would show up to buy these things! That didn't happen, but the 'long bond' isn't exactly thriving at the moment. Today on the show, we look back at why we have such a long maturity bond and why it might be a good idea to start paying attention to it going forward. Related episodes: Bond market nightmares (Apple / Spotify) Bond vigilantes. Who they are, what they want, and how you'll know they're coming (Apple / Spotify) Trying to solve the mystery of big bond yields (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 18 June 2025

Last month, Eric Trump, executive vice president at The Trump Organization, attended a ceremony in Vietnam to break ground on a $1.5 billion residential development and golf course. This comes as Vietnam's government is in trade talks with the administration of Eric's father, President Donald Trump. Today on the show, we look at how the Trump family's business projects in Vietnam are raising red flags when it comes to government ethics. Related episodes: How Trump is making coin from $TRUMP coin For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 17 June 2025

Nintendo has been a titan in the video game industry for decades, but that wasn't always the case. At its very core, Nintendo sees itself as a toy company which is evident in its products from the Nintendo Entertainment System (NES) to the Nintendo Switch 2. Today on the show, we explore Nintendo's history and examine how a small playing card company in Japan became a multimedia giant. Related episodes: Forever games: the economics of the live service model Designing for disability: how video games become more accessible The boom and bust of esports Work. Crunch. Repeat: Why gaming demands so much of its employees Video Game Industry Week: The Final Level For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 16 June 2025

It's ... Indicators of the Week! Our weekly look at some of the most fascinating economic numbers from the news. On today's episode: the monetary cost of Trump's military parade, looks like FEMA could be phased out, and another change to Warner Bros. Discovery. Related episodes: Coyote vs. Warner Bros. Discovery (Apple / Spotify) Gilded Age 2.0? (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 13 June 2025

Healthcare churn—when people switch insurance plans—is particularly bad in the US. In today's episode, why Americans switch healthcare plans so much, and how that can cost a lot in money ... and in health. Related episode: How doctors helped tank universal health care (Apple / Spotify) Healthcare And Economic Despair For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 12 June 2025

There's something interesting happening at the Port of Baltimore. On today's show, we explore the hidden world of bonded warehouses, where you can stash your imported Latvian vodka or Dutch beer tariff free (for a while). Related episodes: Tariffied! We check in on businesses (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 11 June 2025

For four decades, the US has maintained a consistent policy position: money should be fairly free to come and go in and out of the country. That's changing. Two sections in the One Big Beautiful Bill Act would add friction. First is a 3.5% tax on immigrants sending money home, commonly known as remittances. Second is what's known as Section 899 or, colloquially, the 'revenge tax'. This one is making Wall Street wary. It would slap extra taxes on people and businesses investing in the U.S. if their home countries were deemed to tax Americans unfairly. We explain these two taxes that could mark a shift in our free-flowing money era. Related episodes: The long view of economics and immigration (Two Indicators) (Apple / Spotify) The "chilling effect" of deportations (Apple / Spotify) For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

Transcribed - Published: 10 June 2025