The Bureau of Labor Statistics just revised its count of new jobs created between March of last year and March of this year. Although revisions are routine, this was a big one: 818,000 fewer than it initially calculated. In this episode, what the new numbers means for the labor market and the Federal Reserve. Plus, a pig farmer keeps tabs on the presidential race, retailers use “newness” to reel in shoppers, and the U.S. counties with the best and worst employment growth.

The gap between median household income and median income for homebuyers in the U.S. has been growing, putting housing affordability in its “worst spot” in the last 40 years, an economist told us. In this episode: How homeownership got so out of reach. Plus, a tax deduction business owners love expires in 2025, community colleges that are more training ground than stepping stone, and the debate over open-source AI.

When consumers can’t afford what they used to, many are drawn to inexpensive luxuries. Take the so-called lipstick index: When the economy slumps, lipstick sales go up. So what does it mean, economically, that luxury beauty brand Estée Lauder reported sales were down 2% compared to last year? In this episode: shifting consumer beauty habits in the U.S. and China. Plus, everyone’s signing NDAs these days, convenience stores are upping their grub offerings and California fast-food workers got a major raise, but what about prices?

The presidential campaign has been full of economic promises. Do you pick the contender vowing to reduce food costs and invest in housing? Or the one promising more tariffs and oil drilling? Promises can become targets for the opposition, even if they have little chance of being carried out in their original form. Which leaves some voters wondering: Do policy goals pitched on the campaign trail matter? Plus: The insurance boogeyman creeps up behind condos and a Pennsylvania town navigates life without a coal plant.

Even though unemployment has bumped up, retail sales are going strong. Consumers spent $7 billion more in July than in June, the Census Bureau reported. Food, clothing, appliances and other categories saw sales growth over 2023. In this episode, is all that spending the force that’s keeping our economy afloat? Plus, the pros and cons of “dual agency” in real estate transactions and why Atlanta Federal Reserve President Raphael Bostic counsels patience.

For the first time in years, the consumer price index — one measure of inflation — fell below 3%. That’s good for Americans and the Federal Reserve, which has a dual mandate to maintain stable prices and maximum employment. But as inflation has chilled out, so has the job market. What can the Fed do about it? Also in this episode: Mars bets that America will keep snacking, the lag in housing inflation data, and one interest rate to rule them all?

When you think “high prices,” you might think of stressed family budgets. But small businesses have to pay up too. Nevertheless, small-business optimism hit a two-year high last month, but it remains under the 50-year average. We’ll visit a boutique in New York and a bookstore chain in Georgia to get entrepreneurs’ on-the-ground perspectives. Also in this episode: New labor data could signal that interest-rate cuts are imminent, snack companies cook up Ozempic-friendly treats and Canada steps into the crude oil supplier spotlight.

Last week, when the stock market took a tumble, some investors put their cash into bonds instead. Why? Well, we tend to think of the stock and bond markets as having an inverse relationship: when stocks do well, bonds do worse. But when the economy gets wonky, that relationship doesn’t necessarily hold. Also in this episode: Aging Chinatown residents struggle to pass the baton, consumers guess where the economy is headed next, and we ride an Amtrak train from Los Angeles to Portland, Oregon.

A lot of folks like to weigh in on what the Federal Reserve should do with interest rates; Donald Trump said this week that if he were to reoccupy the White House, he should have a say in setting monetary policy. But keeping the Fed free of political pressure is important for several reasons. We’ll get into them. Also: Oklahoma tribal nations fill a gap in federal food aid for kids, Oregon ranchers deal with major wildfire losses, and theme park attendance dips.

The back-to-school shopping season is well underway. But with stubborn high prices in this economy, how will parents get their kids ready without feeling financially burdened? Also: decoding quarterly earnings, what goes into pricing mortgage rates, and why airport food is so expensive. Plus: A projectionist remembers his reel life.