In this episode, Guy Berger joins Julia Coronado as a guest co-host to break down the latest employment report, including the annual benchmark revision and key methodology changes to payroll estimates. They explore why recent data may appear stronger than underlying trends suggest, discussing seasonal adjustment quirks, the birth-death model, and what the larger-than-expected benchmark revision reveals about labor market conditions in 2024 and 2025.

The conversation then turns to immigration policy, hiring trends, and the broader economic outlook. Julia and Guy examine how slowing net migration and demographic pressures are reshaping labor supply, wage dynamics, and industry growth—often in ways that challenge conventional expectations. They close with a forward-looking discussion of 2026, weighing potential fiscal stimulus against persistent policy uncertainty and deficit concerns.

Big ideas, bold debates, and an all-star lineup—February 22nd–24th in Washington, DC, the 42nd Annual NABE Economic Policy Conference is where the economics world comes to talk realignment. Hear directly from economic heavyweights like Christine Lagarde, Lisa Cook, Austan Goolsbee, and Chris Waller as they unpack how AI, demographics, and geoeconomic shifts are reshaping the global economy.

If you want sharp insights, candid conversations, can’t-miss networking, and a front-row seat to where policy is headed, this is the place to be. For more information and to register, visit NABE.com/PC2026.