Marketplace Business News

02/02/2023

Job churn may finally be leveling off

Labor Department data shows that job churn has been on the decline.

Plus, Jay Powell hasn't declared victory over inflation yet and ChatGPT complicates the mission of educators.

Today on Marketplace. https://mktplc.org/3RqPGQP

Listen to this episode from Marketplace on Spotify. We’ve frequently discussed the “great resignation” on this program over the past year as people have sought new jobs with better pay and benefits. But as recession worries loom and wage growth moderates, quitting and hiring rates have begun t...

02/01/2023

Adieu to the Boeing 747, the first jumbo jet

The Boeing 747 ushered in the era of long-haul air travel.

But the iconic plane will no longer be produced as of this week.

The last “Queen of the Skies” — the Boeing 747, affectionately called the Jumbo Jet — was delivered yesterday.

02/01/2023

What is it about cookbooks?

How many cookbooks are too many cookbooks? Is there such a thing?

Leslie Gray Streeter, a single mom, author, and columnist for the Baltimore Banner has 47 cookbooks in her kitchen.

And this year, her goal is to make something from every single one.

You can get pretty much any recipe you want online. Yet cookbooks still sell a lot — roughly 20 million a year.

02/01/2023

U.S. Border Protection app causes tech headaches for asylum seekers

Last month, the Biden administration unveiled a new mobile phone app for asylum seekers, allowing them to schedule appointments to enter the country. And thousands of migrants have been scrambling to sign up.

But many are finding the app full of glitches.

The federal government unveiled new features of its CBP One app to streamline the asylum process for migrants. But many of those seeking protection in the U.S. are facing technical barriers in using it.

02/01/2023

When slowing wage growth isn’t so bad

Wage growth moderated to 1% last quarter, but inflation eased too. This will be on the mind of Federal Reserve officials as they mull interest rate hikes.

Plus, Ireland feuds with the EU over tech regulation.

Today on Marketplace.

Listen to this episode from Marketplace on Spotify. New Labor Department data shows that wage growth slowed to 1% last quarter. That may not sound too rosy for workers, but it’s welcome news to Federal Reserve officials, who are mulling additional interest rate hikes as they try to deflate wage gr...

01/31/2023

How do economists measure the payoffs of various decisions using game theory?

We're exploring the answer in Chapter 2 of our free Econ 101 newsletter course. Sign up now: https://mktplc.org/3kWk2i3

01/31/2023

Talking credit cards help visually impaired people prevent abuse

Credit cards are not easy for visually impaired people to use. One big problem – being able to confirm whether the price the retailer keys in is accurate.

To alleviate that problem, French tech firm Thales has developed a credit card that talks.

Thales, a French firm, is launching a credit card that interacts with a user's smartphone to provide audio cues and transaction confirmations.

01/31/2023

Why visual misinformation online can be tough to stop

Tech is making it easier and easier to create and disseminate visuals, from text-to-image AI models and sophisticated deepfakes to simple memes.

But their potential to easily spread misinformation make them especially dangerous to the public.

Misinformation using photos, memes and videos is easy to share and difficult to censor, says the University of Utah’s Andy King.

01/31/2023

How do economists forecast recessions?

We're looking at the art and science of modeling recessions.

Plus, we check in on the toy biz and efforts to recircuit the semiconductor supply chain.

Today on Marketplace.

Listen to this episode from Marketplace on Spotify. Many CEOs and economists anticipate a recession this year. But their predictions, based on economic data and historical trends, are part art and part science. Today, we’ll dig into how those forecasts are made. Plus, why inflation varies dependin...

01/30/2023

Layoffs at Hasbro may be a sign that the high-flying toy industry's coming back down to Earth

Over the first two years of COVID, toy sales in the U.S. grew by around 33%.

But last year, sales declined 0.2%. The picture looks even worse for one of the largest companies in the industry: Hasbro.

We get into why.

The pandemic helped boost toy sales by more than 30%. But toy company Hasbro recently reported cratering sales and layoffs.

01/30/2023

Some consumers more upbeat as inflation moderates

As the Fed prepares to meet this week, when it is very likely raise interest rates again to keep battling down inflation, there’s been a bit of good news on the consumer front.

Consumers now expect inflation to fall below 4% in the coming year.

The University of Michigan's sentiment survey rose 9% in January, though it's still near decade-lows.

01/30/2023

Rural communities are slow to adopt EVs — but a national charging network depends on them

The federal government aims to increase the number of public charging stations for electric cars tenfold by the end of this decade.

And rural areas play an important role in the broader electrification plan. But they have been slow to adopt EVs.

The 2021 infrastructure bill dedicates $7.5 billion to building out electric vehicle chargers nationwide, with a special emphasis on rural America.

01/29/2023

What does the future of the streaming economy look like?

The streaming economy has exploded in the last 10 years, but its growth really accelerated during the pandemic.

But many still have concerns about the stability of the industry.

"This battle that the big streamers are undertaking ... it could turn into a bloody battle," said NYU professor Luis Cabral.

01/29/2023

In a world where millions work from home, what does it mean to be injured “on the job”?

Millions of Americans have now shifted to at-home work due to the pandemic.

But that raises questions about what they’re entitled to if they’re injured in their own home. Does it still count as a “workplace”?

The amount of workers mostly working at home has tripled over the past several years, blurring the line of what constitutes a “workplace.”

01/28/2023

Steadily (and quietly), more electric school buses are getting on the road

EV school buses can be 2.5X more expensive than diesel or gas models.

But more of them are starting to hit the road thanks to some new funding.

Electric school buses have struggled to gain traction, but to grants and subsidies are helping make them more affordable.

01/28/2023

Save a little, spend a little

Consumers are saving more and spending less. We look at what that means.

Plus, surging retail returns give a boost to liquidators.

Today on Marketplace.

Listen to this episode from Marketplace on Spotify. The American consumer saved more and spent less in December, cutting back on restaurants, movies and sporting events. Will that slow inflation? We’ll talk about that on today’s show. Plus, the confusing economy, who holds U.S. debt, and what’...

01/27/2023

Remote workers increase demand for co-working spaces

The pandemic has changed a lot about the way people work and where they work.

And many workers still choose to work from their homes or remotely instead of an office.

The pandemic allowed many employees to work from their homes. Now, businesses are offering co-working memberships, and workers are flocking.

01/27/2023

Disruptive advancements in science are slowing, new report shows

Across the board, we’re seeing less big scientific breakthroughs. So what’s going on?

We do some digging.

There’s been a dramatic slowdown in the number of big scientific and technological innovations over time.

01/27/2023

How two cases headed to the Supreme Court could change the internet

The cases concern laws that basically make it illegal for social media platforms to block or hide content — say from a former president — even if the post violates the companies’ terms of service.

We get into why these cases could be consequential.

SCOTUS may hear two cases on social media regulation and free speech as early as next year.

01/27/2023

A glass half full/glass half empty GDP report

We're diving into the good and bad news of today's GDP report.

Plus, canceled housing contracts help sink new home sales.

Today on Marketplace.

Listen to this episode from Marketplace on Spotify. Economists often see both good and bad news in economic data. Today’s gross domestic product report was no different. The economy grew by 2.9% last quarter, which was more than expected, but there are some signs of a slowdown. Today, we’ll exam...

01/27/2023

Inside the hectic post-holiday "returns season" at a Costco warehouse

Costco is famous for its return policy: unlimited returns despite condition or purchase date, with some exceptions.

Let's take a closer look at the return process. https://mktplc.org/3Y2fmp7

Retail returns spike after the holidays, filling warehouses with unwanted gifts. A good portion never make it back to store shelves.

01/26/2023

Liquid Death is an “entertainment machine” with a water brand attached

Today, Liquid Death’s products rank among the top-selling drinking waters on Amazon and can be purchased in 60,000 stores nationwide.

And viral marketing campaigns are a big part of the company's rapid rise.

“We think about our marketing team more like 'Saturday Night Live,'” says Mike Cessario, the beverage startup’s co-founder and CEO.

01/26/2023

Taser drones in schools? The idea isn't completely kaput

There’s a real debate over the ethics of putting tasers on small, maneuverable, flying objects to be able to subdue dangerous people — and then trying to use these drones to protect schools.

Dina Temple-Raston, host of the Click Here podcast, walks us through the polarizing school safety proposal.

01/26/2023

Amazon is remaking small businesses in its own image, report says

Amazon might seem anathema to small business, but the fact is, third-party sellers account for the majority of the e-commerce giant’s sales.

And a new report examines how Amazon is helping, hurting and generally transforming the small business retail model.

Small third-party sellers hope to cash in on the online giant's "trickle-down monopoly," says Moira Weigel of Northeastern University.

01/26/2023

The calculus behind those rent increases

The national median rent has shot up more than 20% since 2020. So how do landlords set their prices?

Plus, private equity comes for addiction treatment.

Today on Marketplace.

Listen to this episode from Marketplace on Spotify. Today, the White House announced a slew of actions aimed at helping renters. Though we’ve seen recent glimmers of a cooling rent market, the national median has shot up more than 20% since 2020. So how do landlords set rents in the first place? W...

01/26/2023

Rents are way up. How are landlords picking the price?

The national median rent has risen over 20% since 2020, according to Apartment List.

And the use of pricing algorithms used by some of the nation's biggest corporate landlords might be playing a role.

While smaller landlords still usually look at comparable units for determining prices, bigger corporate landlords use algorithms.

01/25/2023

And this isn’t the first time that people have lost some of their faith in democracy...

That leads us to the question: Can democracy actually succeed with so much inequality? We're talking about it in Chapter 1 of our free Econ 101 newsletter course.

Sign up today: https://mktplc.org/3JkHwrv

01/25/2023

Lessons so far from Elon Musk's tweet trial

“The best advice [Musk] has ever given us: don’t believe everything I say,” says Erik Gordon, a lawyer and professor at .

“That could be one of the lessons of this case — don’t rely on anything unless it’s got that official SEC thing."

University of Michigan's Erik Gordon says Musk may have offered us salient advice: don't take what he says as gospel.

01/25/2023

Carbon capture needs to scale up to make a dent in the climate crisis

A plant in Iceland is the first large-scale facility to remove carbon dioxide from the air on behalf of corporate clients paying to reduce their carbon footprints.

But it would need to remove millions of tons of CO2 a year to make a difference.

The technology would need to remove millions of tons of CO2 a year to make a difference, says Aniruddh Mohan of Princeton University.

01/25/2023

The slowdown has begun for manufacturing

We'll look at why production and hiring in the sector lost steam toward the end of last year.

Plus, Howard University receives a $90 million military research contract.

Today on Marketplace.

Listen to this episode from Marketplace on Spotify. After being fueled by a surge in pandemic demand, the manufacturing sector is showing signs of cooling off. Production and hiring in the industry slowed toward the end of last year. Today, we’ll take a look at what’s driving the manufacturing d...

01/24/2023

Senate committee takes on Ticketmaster after Taylor Swift ticket debacle

There's sure to be lots of pointed questions about what went wrong with the sale of Taylor Swift concert tickets last year.

But perhaps a bigger question is whether the federal government really going to do anything about it.

Expect questions about Taylor Swift.

01/24/2023

Why do we allow investors to deduct stock market losses from their taxes?

As investors head into tax season, they’ll be able to deduct some of their losses.

But there are rules governing the types of investment losses you can deduct and caps on how much money you can write off.

We break it down.

It’s based on the principle of fairness — within limits.

01/24/2023

It’s in Big Tech's DNA to overhire in the boom and deflate in the downturn

The tech industry continues to shed jobs: Google and Microsoft announced thousands of layoffs last week and Spotify this week.

So, why did so many tech companies make the same mistake of overhiring? We get into it today on "Marketplace Tech."

Hundreds of thousands have been affected in the current layoff cycle. Headcounts rose 30% to 50%, but so far, the downsizing is in the single digits, Anup Srivastava says. "I think the correction is not complete yet."

01/23/2023

Layoffs are up, first-time jobless claims are down. What gives?

Despite layoffs at big tech and finance companies, first-time jobless claims recently fell to 190,000 — a level rarely seen since the pandemic hit in 2020.

Let's take a look at what's going on.

The job market is still tight, so many who've lost jobs get new ones fast. Others aren't eager to deal with the unemployment insurance system.

01/23/2023

With Sundance finally back in person, filmmakers have high hopes for distribution

The Sundance Film Festival is up and running this week in Park City, Utah, for the first time in three years.

Here's what a return to in-person festivals could mean for the business of independent film.

The majority of films debuting at Sundance are still in need of wide distribution. Some believe having the festival in person for the first time since 2020 will help.

01/22/2023

Economics doesn’t have to be boring. And it’s useful to understand — even if you aren’t an economist or work in finance.

So, let’s learn (or relearn) the basics of economics together. One week at a time: https://mktplc.org/3XCGjzA

01/22/2023

Want to start a business? It helps to have rich parents

Just how heavily are the odds stacked against startups without the “massive leg up” of family wealth?

We get into it.

Research shows how much of a role one’s family background helps in finding success.

01/22/2023

Alaskan siblings challenge Native knockoffs with their own Indigenous designs

When you grow up in a tourist town inundated with inauthentic, mass-produced souvenirs meant to represent your own culture, you might be moved to introduce some authenticity back into the market.

In Juneau, Rico and Crystal Worl draw from their Tlingit and Athabascan heritage to create designs for everyday items like playing cards.

01/21/2023

"Dark patterns": The deceptive arts of e-commerce

Turns out, there is a dark art of web design. Inventory trackers, countdown clocks and fake reviews are rampant on e-commerce sites, and all are used to influence how consumers buy.

But their contents, oftentimes, are formulated fiction.

Emily Stewart of Vox explains how web tactics like countdown clocks and inventory trackers can create a false sense of urgency for consumers.

01/21/2023

Inflation, immigration and the labor force

A slowdown in immigration to the U.S. has helped fuel the labor shortage and inflation.

Plus, COVID-19 changed how Lunar New Year affects supply chains.

Today on Marketplace.

Listen to this episode from Marketplace on Spotify. Immigration to the U.S. dropped dramatically in recent years as a result of the pandemic and policy at the border. That immigration slowdown translates into lost workers, and that workforce shortage has contributed to inflation. On today’s show, ...