Marketplace All-in-One

The count of jobs on private payrolls unexpectedly fell by 300,000 in January, as omicron’s disrupted businesses. The decline came after a banner December, when job growth totaled 776,000, according to the payroll firm ADP. Susan Schmidt helps us sort through this news during our discussion on the markets. The European Union set a goal of being climate neutral by 2050, but the criteria for what is “green” raises questions. With remote work becoming normalized, some developers plan on turning empty office buildings into apartments. 

Native American tribes have reached a $590 million-dollar settlement with several drug companies over addictive opioid painkillers that inundated their communities. The tribes say they’ve been among the worst impacted by addictions and overdoses. COVID-19 vaccines for children under the age of five could soon become available. Facebook parent company Meta reports its earnings this morning, and we take another look as business possibilities that could exist within the “metaverse.” 

From the BBC World Service: The European Union will allow gas and nuclear power to qualify for classification as climate friendly investment projects. But it’s a move that’s been met with controversy and protests in Brussels. Plus, what’s behind Sony’s unexpected soaring profits? And, the cost of South Africa’s crumbling rail infrastructure.

There are many different types of virtual money these days, among them cryptocurrencies like Bitcoin, Ethereum and Dogecoin, which are largely unregulated. Now more and more governments around the world are getting on board with the concept of their own official, regulated digital-only currencies. These are called central bank digital currencies, and the Federal Reserve recently took the first step in exploring the possibility of an American CBDC. It issued a 40-page paper outlining the potential benefits of, and concerns surrounding, a government-backed digital dollar. Marketplace’s Kimberly Adams speaks with Yaya Fanusie, an adjunct senior fellow at the Center for a New American Security.

The last time we took a longer look at inflation, economists were still trying to figure out if rising prices would be temporary or whether they’d be sticking around for a while.

Well, inflation is here. It’s now at a 40-year high, and the Federal Reserve is getting ready to raise interest rates to curb demand and — in theory — prices. So what now?

“Service sector inflation, it’s looming,” said Betsey Stevenson, a professor of public policy and economics at the University of Michigan and member of the Council of Economic Advisers under President Barack Obama.

Stevenson said while inflation in the goods sector will likely work itself out, what scares her the most is inflation in the service sector of the economy, an area where prices haven’t risen that much.

On today’s show, we’ll talk about what’s driving inflation, the long-term effects it could have on our economy and what policymakers can do to get it under control.

In the News Fix, we’ll talk about what inflation looks like in the rental market and why former President Donald Trump continues to have a grip on the Republican Party.

Then, we’ll hear from listeners about the metaverse, tips on where to use the loo when you’re road tripping across America and an answer to the Make Me Smart question that puts a really fine point on our look at inflation and the supply chain.

Here’s everything we talked about today:

The pandemic has taken its toll on Indigenous workers, but take a look at the monthly jobs report from the Bureau of Labor Statistics and you wouldn’t be able to tell. That’s because the report omits American Indians and Alaska Natives. Today, we’ll take a look at what employment looks like in a few tribal communities and examine the difficulties of implementing policy without meaningful data. Plus, we’ll hear how businesses are grappling with inventory surpluses and look at what the deployment of Russian troops means for Ukraine’s economy.

The New York Times has bought the online game Wordle. The daily word puzzle has become a viral sensation. And The Times says it paid millions for it, as it works to beef up its digital subscriptions. Metlife’s Drew Matus joins us and talks jobs for our markets discussion. The workplace is becoming more and more automated, especially during the pandemic. Does that mean the robots are coming for all of our jobs? We spoke to Charlotte Howard, the U.S. business editor and New York bureau chief for The Economist, about the implications of automated work.

From the BBC World Service: India unveils a sweeping new budget. But can it help the country recover from its COVID-induced economic losses? Plus: Myanmar marks a year since a military coup with silent protests across the country. And, legal protections are enacted in Belgium for workers who want to disconnect from work after hours.

Talent retention is a top concern for companies right now, in an era when people are quitting their jobs in droves. But it might also be an important development strategy for low-income neighborhoods, according to the new book “Reclaiming Your Community: You Don’t Have to Move Out of Your Neighborhood to Live in a Better One.” We spoke with Majora Carter, the book’s author and an urban revitalization strategist, real estate developer and MacArthur “genius grant” recipient who lives and works in the South Bronx. Also today, we take a look at how there are many more people renting these days, driving down vacancies and giving way to higher rent overall.

This week, a repair team is set to help restore Tonga’s internet, after a volcanic eruption and tsunami last month severed the country’s primary communication connection to the rest of the world: a submarine cable, one of many that crisscross the floors of oceans and seas around the planet. In fact, if you’re listening to this outside of the U.S., this episode has itself traveled along a cable, or multiple cables, at the bottom of the ocean to make its way to you. To unpack this technology, we’re joined by Alan Mauldin, a research director for market research and consulting firm TeleGeography.