Marketplace Morning Report

On Friday, the Bureau of Labor Statistics reported that job creation in the U.S. was much lower than expected in July, and revised down its numbers for May and June, reporting there were 258,000 fewer jobs created in those months than initially estimated. President Trump, upset about the revisions, then proceeded to fire the head of that Bureau. The president now says he'll name a replacement in the coming days. Plus, why ...

From the BBC World Service: The U.S. has warned India of an "unspecified penalty" for buying Russian oil and weapons, which Deputy White House Chief of Staff Stephen Miller says could take India's tariff rate to as much as 100%. For years, the economy of the tiny African kingdom of Lesotho has struggled, with claims of corruption and soaring unemployment; it’s now been hit with 15% U.S. tariffs — less than the 50% they wer...

On Friday, job growth figures from earlier months were revised sharply downward: May's gain was cut from 125,000 to just 19,000, and June's total from 147,000 to only 14,000. Today, we're told there were 73,000 more jobs in July, but might that number also get revised down? Also on the show: are President Trump's new tariffs legal? Jess Bravin listened as a federal appeals court panel heard the arguments on Thursday, and h...

The Trump administration set August 1 as the deadline for countries to strike new trade agreements with the U.S. Some met the deadline, and others did not. The administration says it's about trading away some efficiency in commerce for a new trade system that is "fair and balanced." Mentioned less often is the role tariffs play in raising taxes to fund government spending. Plus, what is the difference between fine art and ...

From the BBC World Service: President Trump’s long-delayed tariff deadline has finally passed and for countries without a deal, the import taxes are steep — the highest in almost a century. But some countries, including Thailand, are breathing a sigh of relief that the revised duties aren’t as high as feared. Meanwhile, automakers are already counting the cost of tariffs which were imposed on vehicles and vehicle parts ear...

Meta and Microsoft shares jumped Thursday morning following strong quarterly earnings, with both companies attributing the gains to AI-driven productivity and revenue growth. Susan Schmidt at Exchange Capital Resources weights in. Also on the show: inflation picked up in June, challenging hopes of a cooldown. Diane Swonk at KPMG explains the implications. And later, Marketplace's Jennifer Pak looks at what Chinese consumer...

The guardians of interest rates at America's central bank chose not to cut interest rates, given the uncertain effects of tariffs and a resilient overall economy. But the committee's decision was not unanimous. Also on the show: the July Jobs report. The U.S. labor force shrank by 755,000 in May and June, and that's partly what accounts for June's drop in unemployment. We look into why this trend will likely to be a persis...

This morning's GDP figure showed that the U.S. economy grew at an annual rate of 3% in Q2 — a higher-than-expected rebound. But there's more than meets the eye. "The headline number is showing the volatility in trade and imports and exports, but the numbers underneath are showing very much a slow slowing of the U.S. economy," says economist Kathryn Anne Edwards. We'll discuss. And later: South African entrepreneurs are bri...

Friday is the latest deadline for the U.S. to sign trade deals with other countries, or else they'll face higher tariffs. The administration had promised 90 deals in 90 days when setting the later Aug. 1 deadline. But as of today, it's not 90 — it's more like six. Plus, under-16s won't be allowed to have YouTube accounts in Australia, and small businesses may be equipped to weather hard times in Michigan's cannabis industr...

From the BBC World Service: The Australian government announced it will ban children under 16 from having YouTube accounts starting in December. The ban also limits young people's use of TikTok, Instagram, Facebook, X, and Snapchat. We'll learn more. Then, South Africa has long struggled with power cuts. Now, some companies are introducing pay-as-you-go backup power systems. And, a UN environmentalist warns that new Brazil...

From the BBC World Service: Parents in China are being offered a little extra help, about $500 a year for every child under three. It's the government's first nationwide subsidy in a bid to increase birth rates. State media says around 20 million families are eligible for the payments. But will it work? Plus, with northern Mexico in the middle of a severe drought, the country is falling behind on water deliveries to the U....

High home prices and high mortgage rates have been holding buyers — and the market — back for a long time now. Now, economic uncertainty is shaping people's house hunt. More would-be buyers have paused their home searches recently, and there’s been a nearly 50% increase in people listing then de-listing their homes. Also: how markets are responding to the U.S.-EU trade deal, and how Chile's ramped-up lithium processing mig...

Government data is at risk. Federal funding for the main statistical agencies, like the Bureau of Labor Statistics and the Commerce Department, has been tight for years. But since the Trump administration took office, threats to the availability and comprehensiveness of federal data have reached a whole new level — impacting everything from national health and crime statistics to key economic reports. We'll learn about the...

From the BBC World Service: EU leaders are being briefed today on a new deal with the United States that halves the tariff President Donald Trump threatened to put on European goods, but the compromise still means a 15% import tax on most products. And not everyone is happy with the deal. We'll hear more. Plus, lithium extraction uses huge amounts of water and can devastate local ecosystems. Can new technology make mining ...

This week, President Donald Trump said the baseline rate for so-called “reciprocal” tariffs on countries around the world could now land somewhere between 15% and 50%, higher than what was previously floated. But according to Princeton international economics professor Gene Grossman, "it's not clear exactly what the purposes are, and many of them are in contradiction with each other." But first: Since the spring, oil rig c...

In an awkward visit to the Federal Reserve building, which is under construction, President Donald Trump continued to push for lower interest rates. But even if Trump had a compliant Fed, he wouldn’t necessarily get the lower borrowing costs he wants, because the central bank doesn’t directly control the rates the president is concerned about. We'll learn more. Also, we'll provide an explainer on what tariffs on products v...