Marketplace All-in-One

Though the unemployment rate dipped in August, it rose for a single racial or ethnic group: Black workers. Job growth has been slow to rebound in industries like child care and leisure and hospitality — all of which are major employers of Black women. The employment rate for Black workers is trending in the wrong direction as the federal unemployment benefits that extended relief for millions of Americans expired on Monday. Later on in the show: rural vaccination rates are on the rise, what it means when Bansky takes a “spray-cation” and labor shortages hit school cafeterias.

New analysis out today from the Center for American Progress finds “a typical union household is more than twice as wealthy as a typical non-union household,” and it’s even more significant for Black and Hispanic workers, in particular. Also, for the first time since the pandemic began, traders have returned today to their posts in the pits of the London Metal Exchange. And, your update on gas prices across the country over Labor Day weekend.

Federal pandemic unemployment benefits have now expired. Happy Labor Day? That means no more unemployment benefits for gig workers and the self-employed, no more extra $300 a week and no more extended benefits for people who’ve been unemployed for a long time. What will that mean for the labor market going forward? Plus, the NFL season starts Thursday, and a lot of fantasy football leagues are having their drafts over this holiday weekend. There’s a lot of money on the line: The global market for fantasy sports is expected to grow to over $22 billion in 2021, according to Research and Markets.

From the BBC World Service: The London Metal Exchange is the last trading hub of its kind in Europe, where traders work on a trading floor called the “Ring.” They execute trades by shouting and gesturing. But why bring traders back in person? Plus, while Ethiopia faces a shortage of foreign currency, rising prices and conflict in the Tigray region, many remain optimistic its economy will weather these challenges.

This episode originally aired July 19, 2021.

The Federal Trade Commission is turning its attention to the right-to-repair movement — a pushback against manufacturers limiting who can repair the equipment they make. The agency put out a report on this in May that found “the burden of repair restrictions may fall more heavily on communities of color and lower-income communities.” One group watching this debate is farmers, as some companies that make farm equipment only allow repairs at their own dealerships. Kimberly Adams speaks to Terry Griffin, an agricultural economist with Kansas State University. He grew up on a farm in northeast Arkansas and says back then, DIY equipment repairs were just a part of life.

The destruction left by Hurricane Ida has sharpened the focus on infrastructure and climate resilience in the United States. We discuss the importance of the Senate-approved infrastructure bill in speeding up the fight against climate change. We also talk about the emerging corporate responses to the Texas abortion law and some worrying statistics in the latest jobs report. And finally, join us for another round of our Friday game, Half Full/Half Empty!

Here’s everything we talked about on the show today:

Read the transcript here.

“There was a lot of gasping going on,” was how Heather Long of The Washington Post described the reception this morning to August’s disappointing, very-big-miss jobs report. Given that the delta variant is still very much at large, have economists and labor market analysts been too optimistic about job creation? Also on today’s show: the costly steps to securing a more resilient New York subway system and some background on why Apple is relaxing its app store rules.

China is setting up a third stock exchange, this time in Beijing. Jennifer Pak joins us to talk about how this third stock exchange could compliment the other two and possibly be a haven for small tech companies. Also, Christopher Low joins us for our markets discussion following the release of the August jobs numbers.

From the BBC World Service: People traveling to America from countries not affected by travel restrictions can get vaccinations for free at some airport clinics and pharmacies. Some even stay after their quarantine period has finished to take a vacation. Plus, why is Japan’s prime minister stepping down after only a year? And, North Korea’s leader tells state media the labor force needs to be fully mobilized ahead of harvest as the isolated nation struggles with food shortages, coronavirus outbreaks and the impact of drought and flooding.

We look into the improving wages outlook for workers as we await numbers from the August jobs report. Signing bonuses, higher starting pay and more overall options have fueled the rise of earnings, but can the momentum last? The BBC reports on the United States being the most popular “vaccine tourist” destination. It’s already holiday shopping season at the ports, which are starting to fill up.