The Labor Department reported today that 231,000 people filed new claims for jobless benefits in the week ending May 4; TikTok says it will start automatically labeling AI generated content when it’s uploaded from other platforms; backlash develops against a new Apple ad; GM will stop manufacturing the Chevy Malibu.

Unemployment claims jump more than expected

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With the elections for president, the Senate and the House just 4½ months away, misinformation is on the rise. We’ll get into the kind of false narratives to look for on the campaign trail. Plus, how loopholes in medical billing underscore the importance of change at the state and local levels. And, the story of a remote-controlled robot that rescues swimmers in distress.
Here’s everything we talked about today:

Post about the Republican National Committee from Jay Nordlinger on X
“Even Doctors Like Me Are Falling Into This Medical Bill Trap” from The New York Times
“Watch a robot race over Lake Michigan waves to help a swimmer” from MLive
“Which sentence do you think is grammatically correct?” from YouGov

We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

The false economic narratives continue

A stretch of the U.S. is under a heat advisory this week — but summer starts Thursday. When we talk about a “hot” economy, it’s usually a good thing, but in real life, extreme heat sends economic productivity downhill. We’ll get into why. Also in this episode: Retailers launch copycat sales to compete with Amazon Prime Day, Baltimore longshoremen are finally back to work and the bond market is booming.

The economy doesn’t love the heat, either

Stocks climb to new heights; The Justice Department sues Adobe; China launches a retaliatory investigation into European pork imports; Ultium workers ratify a new contract..

Nasdaq, S&P 500 hit record highs

The New York Fed’s June Empire State Manufacturing Survey is out this morning; Minneapolis Fed President Neel Kashkari says  predictions the Federal Reserve won’t cut interest rates until December are “reasonable;” the U.S. surgeon general calls for a warning label on social media; Disney estimates the new “Inside Out 2” film made $155 million.

An encouraging report on manufacturing

Wall Street investors bet on extra rate cuts this year, in spite of Fed predictions that there will be just one. Plus, Megabus parent company Coach USA has filed for bankruptcy after ridership dropped during the pandemic and failed to recover. And for Baltimore firms, work on the Francis Scott Key Bridge reconstruction is personal.
 

Unemployment claims jump more than expected

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