Marketplace

The last time Congress raised the federal minimum wage, it went up 70 cents — from $6.55 to $7.25 an hour. That was in 2009. Today, we’ll get into why there hasn’t been a successful push to boost it since then and who suffers as a result. Plus, officials in China promise major tax reform, apartment vacancies in Sun Belt cities rise and the Federal Reserve keeps an eye on GDP estimates.

“Act your wage,” “coffee badging,” “ghost jobs” — the internet is always vomiting up new workplace phrases. You may even use some of them to describe the bizarre job market of the past few years. So when popular work slang shifts from silly — “lazy girl jobs” — to grim — “quiet cutting” — are there hints about where the labor market is headed? Also in this episode: Tech firms ditch user counts, car sales motor on despite high costs and educators get educated about jobs at the Port of Baltimore.

In the face of major news, some say the bond market can signal what comes next economically. But so far, bond yields don’t seem to be reacting to Biden’s dropping out of the presidential race. In this episode, what the crystal ball of the economy does care about in regard to elections. Plus, business investments outpace GDP gains, Nvidia employees cash in on the chipmaker’s hockey stick-shaped earnings growth and Friday’s CrowdStrike crash reveals a common cybersecurity weakness.

Nearly every economic sector relies on secure technology networks: retailers, airlines, hospitals and more. After a faulty software update by cybersecurity giant CrowdStrike, businesses across the globe came screeching to a halt, dragging customers with them. In this episode, the tech firm behind today’s maddening “blue screen of death.” Plus: why the Federal Reserve plans communication blackouts, a former delivery driver remembers using chickens to mark her routes, and industry upheaval threatens an Alaskan fishing community.

The number of people filing for jobless benefits in each of the last two weeks rose. That means it’s taking job seekers longer to find employment. It’s also offers mild support to those who want to see lower interest rates. Also: Who’s spending and who isn’t? And what AI means for authors and publishers.

Now’s the time of year when many families look for a new home. But it’s a seemingly impossible market for first-time buyers: high prices, high mortgage rates, high insurance, low inventory. We’ll explain how some are pulling it off and why some experts believe lower home prices and rents are in sight. Also: State and local governments have been on a hiring spree, and business inventories are up.

Retail sales numbers released today show spending was flat last month. But if you look a little deeper, you’ll see Americans spent more in June than May. What does this mean for the Federal Reserve as it considers lowering interest rates? Also: Homebuilders are feeling a little less confident, and AI is trying to read emotions. Plus, the nocturnal sprint at UPS’ one-day-shipping hub.

The economy seems to be coming in for a soft landing, and that’s a big reason banks are doing so well. Markets are up, emboldening companies to make merger deals, which they pay investment banks to execute. JPMorgan Chase just posted the highest quarterly net income for a bank in U.S. history — $18.1 billion. Also: On the eve of Amazon Prime Day, how a shipping hub handles quick turnarounds. Plus, another decline in China’s GDP, and a DJ looks back at her analog life spinning vinyl.

Nearly a million Texans are without power after Hurricane Beryl damaged an already fragile energy grid. As they wait for the lights come back on, we’ll explain why pretty much the whole country needs costly energy grid updates, especially as climate change makes weather more extreme. Also in this episode: Students who attended for-profit colleges are drowning in debt, and legal experts break down what might happen to federal regulatory agencies without the Chevron deference.

Inflation cooled for the third straight month in June, and borrowers hope rate cuts come soon. But will enough “good data” show up to ease the risks of a flare-up in prices? We break down the Fed’s decision-making process — and explain why shelter prices are one thing holding the central bank back. Also in this episode: Workers at the Port of Baltimore are full steam ahead as the region recovers from the Key Bridge collapse, and a SCOTUS decision opens the door to changes in tribal nation health care management.

Inquiring minds want to know: When will the Federal Reserve cut interest rates? Fed Chair Jay Powell isn’t ready to answer that question. But when rates are cut, there’s gonna be a lag before the Americans feels it. Also in this episode: Egg-freezing rates skyrocket as more employer benefits cover the procedure, the U.S. is less trade-oriented than other countries, and nearly half of Gen Xers aren’t financially on track to retire, a new study says.

The job market has cooled in recent months. The days of two openings per available worker may be over, but some sectors still have to struggle to find employees. One industry on a hot streak is health care, thanks in part to the continued workforce disruptions caused by COVID. Also in this episode: Small-business optimism rises despite cost concerns, tweens concoct potentially harmful “skin care smoothies” and steel prices sag as demand drops.

Paramount just announced a merger with Skydance, a film production company. The hope is that adding Skydance’s offerings to its streaming platforms will boost subscriptions. But streaming is a finicky business, where you have to be a top-tier service to thrive. Also in this episode: Dynamic pricing technology could be profitable for retailers, some Chinese families seek gentler school environments and Americans visit South Korea as skin care tourists.

Federal surveys aren’t great at collecting data on Native Americans. One reason? As many as 60% of people who check the American Indian/Alaska Native box on forms also check another race box, the Brookings Institution found. In this episode, we’ll explain how undercounting impacts the federal government’s fulfillment of its obligations to Native nations. Plus, we’ll take a trip down the Houston Ship Channel and dissect the latest jobs report.

The May jobs report said wages had risen about 4% over 12 months, while inflation was 3.3% over the same period. Good news, right? Then why did consumer sentiment hit a 7-month low in June? In this episode, other wages-related measurements that might explain that economic pessimism. Plus, a Yale legislation-scoring group focuses on outcomes, and precision agriculture technology adoption is slow.

The Federal Reserve has a decision to make: cut interest rates to help the slackening job market and risk the progress it’s made in cooling inflation, or keep rates high — which could push unemployment up. In this episode, we’ll explain the economic inflection point and why interest rates don’t have the relationship to the labor market they once had. Plus, the presidential debate bumped up bond yields, the “beer industry” encompasses all types of drinks and customers nowadays, and one woman recalls her first 9-to-5.

Tuesday’s jobs report showed 200,000 more openings in May than the previous month — pretty yawn-worthy compared to the labor market roller coaster of the past few years. But don’t fret! All that boring data is actually a sign of stability. Also in this episode: Why organic produce is expensive to grow, what it’s going to take for global power sector emissions to fall, and which type of construction is dragging sector spending down.

Lawrence Brown created “Urban Cipher,” a Monopoly-like game, to illustrate the consequences of neighborhood redlining. We’ll join Baltimore city educators at a professional development session led by Brown and hear how redlining continues to affect families today. Also in this episode: Lumber prices fall while housing remains expensive, Toys R Us dips its toe into AI-generated advertising and a landscape designer tells us about his job before the arrival of drafting software.

Today we learned that the conservative majority on the U.S. Supreme Court upheld a local law in Oregon that criminalizes sleeping in public places, authorizing punishment for homelessness. We’ll get into how this connects to the stalled housing market. Plus, SCOTUS curtails the powers of government agencies and national work-from-home rates reach a new normal.

The Supreme Court has decided a case involving internal tribunals the SEC uses to enforce fraud rules. In this episode, we’ll hear from a legal scholar about the ruling’s implications for all sorts of federal regulatory bodies. The short of it? It will be harder for agencies to enforce laws and easier for people and companies to get away with breaking them. Plus: what “final sales” means in the Federal Reserve’s analysis of GDP and why continuing jobless claims are climbing.