Full Episode
We will, of course, review the week that was. We'll talk tariffs. We can't not, really. But then we'll go to the movies. From American Public Media, this is Marketplace. In Los Angeles, I'm Kyle Risdell. It is Friday today. This one is the 14th of November. Good as always to have you along, everybody. Hey, the shutdown's over. Everything economic is back to normal, right? Okay, no. I know that.
But that is where we're going to start. Kate Davidson is at Bloomberg. Courtney Brown is at Axios. Hey, you two.
Hey, Kyle.
So, Kate, I'm going to start with you. The BLS, the Bureau of Labor Statistics, came out today and said next Thursday, the 20th, will be September Jobs Day. So six, seven-ish weeks late. While that is, of course, good news, what's your sense of where we are with knowing where this economy is going?
Yeah, well, I think that we've obviously been paying very close attention to all the private sector data that we've still been getting. It's not a replacement for the sort of gold standard government data. But what we've seen and we've heard Fed officials talk about is that a lot of that data suggests the labor market has continued to cool. Now, how worried should we be about that? How bad is it?
It's kind of depends on how you look at it. I mean, we have continued to get layoff data, that is filings for jobless claims from the states each week. And that gives us a sense that those claims, the continuing claims, so people that are staying on uninsurance, they're trending higher, but they haven't spiked.
New claims haven't spiked, even though we've seen all of these big layoff announcements from companies that are reporting earnings. So I think that the labor market is not great, but hasn't drastically deteriorated since the last time that we saw a snapshot of it.
Courtney, if you could reach into the guts of the federal statistical system, what piece of data would you most like to see right about now?
Oh, don't make me pick, Kai. Don't make me pick. It's like picking and asking a parent which of their children is their favorite. Okay, if I had to pick, I think I would go with... I'm going to go with the jobs data just because there is this schism on the fed committee right now about yes, the labor market is flowing, but is it due to factors that the fed can't really solve for?
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