Week of May 28th, 2018

Here's why that matters.

We ended the week with a strong jobs report. But what about wage growth?

Surprise … it's not much like "Ocean's 8."

In practical terms, the island has to prepare for the next big disaster.

Ask a Manager's Alison Green answers listener questions about internships

Test your ability to catch masculine- or feminine-coded wording.

It can start with the language used in job descriptions.

FIFA and Russia lay down the law, but corporate sponsors have influence too.

In 2016, writer Travis Jeppesen became the first American to study at a North Korean university.

With 2018's hurricane season starting, some families are still recovering from last year's storms.

It's "a steady policy of throwing stink bombs into rooms, having the room clear out and then saying, 'OK, let's sit down and talk.'"

"This is really just a story about women who are excellent at their jobs — they just happen to be criminals," said Olivia Milch, co-writer and producer for "Ocean's 8."

(Markets Edition) The U.S. economy added 223,000 jobs in May, while the unemployment rate declined to 3.8 percent, according to the latest jobs report. We’ll hear from Christopher Low, chief economist at FTN Financial, about the positives in this report, and yet why investors are being cautious over these indicators. Plus: We find out why it’s such a big deal that the president tweeted that he was “looking forward” to the release of the employment numbers. Afterwards, we’ll look at how leaders in the European Union are reacting to the Trump administration’s tariffs, and then we’ll check in on how China-U.S. trade talks are going. (06/01/2018)

You have to afford more than a mortgage.

(U.S. Edition) Now that the Trump administration has decided to impose tariffs on steel and aluminum from Europe, Canada, and Mexico, we’ll look at how its North American allies, specifically, plan to retaliate. Both Canada and Mexico have already announced new tariffs on U.S. steel. Afterwards, ahead of the May jobs report, we’ll discuss what wages look like for entry-level workers, and then we’ll explore how Texas’ governor plans to increase school safety in the state. (06/01/2018)

But wage gains are still below the levels that are typical when the unemployment rate is this low.

(Global Edition) From the BBC World Service … Global trade is under threat again as President Trump’s fresh tariffs target the United State’s North American and European allies. Who really stands to win, and will the White House come to the negotiation table again or is a global trade war just about to kick off? (06/01/2018)

ADP reports entry-level wages for 16- to 24-year-olds rose 5.2 percent in the past year, about double the increase for workers' wages overall.

The Federal Trade Commission found the app's security and privacy protections disclosures lacking.

Venmo has been a major player in the peer-to-peer payment scene the past few years. If you’re not familiar with the PayPal-owned app, one popular feature is its public news feed. That’s where people post their payments, often with emoji to describe them. But as it gets more popular, some are wondering if it’s secure or private enough. In fact, PayPal recently settled a complaint with the Federal Trade Commission over Venmo about privacy and security. Alison Griswold has covered Venmo at Slate and now at Quartz. She spoke with Marketplace Tech host Molly Wood about the app. (06/01/2018)

Duties seem like a thing between countries, but individual businesses often wind up holding the economic bag.

Part of John Anker's business model is to convince companies to outsource to his company, rather than overseas.

(Markets Edition) The Fed is changing up a measure known as “The Volcker Rule,” which was put in place after the financial crisis to curb risky behavior from banks. We’ll discuss whether this will start enabling dangerous behavior. Afterwards, we’ll chat with the Economist’s New York bureau chief, Patrick Foulis about why corporate America is so fond of President Donald Trump. (05/31/2018)

The U.S. announced today that it will impose its planned steel and aluminium tariffs on Canada, Mexico and the European Union.

The Trump administration plans to impose penalties on steel and aluminum from Europe, Canada and Mexico. One expert says our relationship with China might actually be more constructive than our relationship with Europe right now.

(U.S. Edition) The White House is on track to impose a 25 percent penalty on steel from Europe, and a 10 percent penalty on aluminum from the region. We’ll talk to Ian Bremmer, founder of the political risk consultancy Eurasia Group — about whether this means a trade war, and then we’ll look at the American-made products the European Union will make tougher to sell. Afterwards, we’ll discuss Arkansas’ plans to impose work requirements on those in its Medicaid program. (06/01/2018)

(Global Edition) Nearly 10 years after the financial crisis, regulators in the U.S. are simplifying a trading rule that many foreign banking institutions have seen as unfair. But will this move expose the global financial system to the same kinds of risks that sparked the 2008 meltdown? Then, Brazil is starting to emerge from a two-week-long truck driver strike, but the economic costs are growing. We’ll take you to São Paulo and explain why. Afterwards, from payment systems to taxi services, Africa’s first billion-dollar startup is changing the way consumers on the continent shop. The company’s been dubbed the Alibaba of Africa … but in a place where fast shipping and convenience isn’t always the norm, is a shopping revolution still a long way off?  (05/31/2018)

Bitcoin’s wildly fluctuating price may not be the result of free market forces. The Department of Justice has reportedly opened an investigation into whether traders are manipulating the price of bitcoin and other digital currencies. Marketplace Tech host Molly Wood spoke with Peter Tchir, a market strategist at the investment bank Academy Securities about digital currency price manipulation his article on the topic for Forbes. (05/31/2018)  

The U.S. is reportedly investigating price manipulation in digital currencies.

The new CEO of the James Beard Foundation has some ideas.

Clare Reichenbach became CEO for the culinary nonprofit in February, and she already has big plans.

Fifth-generation foundry owners say a changing consensus about manufacturing in Washington is "overdue."

(Markets Edition) With the official jobs report for May coming out this Friday, we’ll look at how we might do with an early hint from the payroll processing company ADP. They’ve just released numbers for private-sector employment, showing that the economy added 178,000 jobs. Afterwards, we’ll look at what the latest Fortune 500 list — which ranks America’s biggest companies —says about what we value and how that’s changed over the years. Plus: We explore how farmers are spending millions to stop feral pigs from causing damage. (05/30/2018)

(U.S. Edition) Remember when Treasury Secretary Steven Mnuchin suggested U.S. tariffs on Chinese goods would be set aside? Well, now the White House is pressing ahead and adding new pressure on China. We’ll bring you up to date on what the Trump administration is doing now. Afterwards, we’ll look at the Fed’s decision to weaken the Volcker Rule, a piece of legislation that limits some trading practices, and then talk about some of the rules companies have adopted to increase workplace diversity. (05/30/2018)

(Global Edition) From the BBC World Service … The future of Italy’s political leadership remains in limbo and investors are worried about what it means for the country’s continued participation in the eurozone’s common currency. The nation’s borrowing costs have soared in recent days amid the turmoil. So, is trust in Italy evaporating? Then, the global economy is expected to grow by nearly 4 percent this year and next, with unemployment in the developed world falling to the lowest level in four decades. We talk to the OECD, which released the forecasts, about what’s driving that growth. Afterwards, Slack – the instant-messaging services used by companies all over the world – is reported to have a valuation north of $5 billion. But despite the rapid growth, the company’s co-founder and CEO tells us why he’s not looking to tap the public market … yet. (05/30/2018) 

Intel Capital has been funding diverse startups for a few years. Now it's broadened its definition of diversity.

Intel Capital is the venture capital arm of the chip giant Intel. It’s invested over $12 billion since it was started in 1991. Lately, it’s focused on big data, artificial intelligence, robotics and diversity. In 2015, it announced the $125 million Intel Capital Diversity Fund, which is to be invested in female and minority startup founders. Two and a half years later, after they’d invested all that money, the Diversity Fund became the Diversity Initiative with a broader definition of diversity. Marketplace Tech host Molly Wood spoke with Christine Herron, one of the leaders of the fund, about its evolution. (05/30/2018)         

We asked an ethics expert to make us smart about the news as it unfolded.

New worries about the euro sent the currency to its lowest level against the dollar in nearly a year.

This "textile town" looks different after NAFTA.

They're the "supporting actress waiting in the wings," says the BBC's Helene Schumacher.

But, "it's also important to remember that the markets are not in anything like the kind of conditions they were when the eurozone crisis was at its most intense back in 2011 and 2012," Andrew Walker, an economics correspondent for the BBC told us.

(Markets Edition) European politics are causing turbulence in the world’s financial markets. We’ll look how fresh elections in Italy and Spain are playing a role in all of this. Afterwards, we’ll discuss how Costco is holding up in the age of Amazon compared to retailers like Walmart and Target, and then we’ll look at the demographics of who invests in the stock market and what keeps some groups from investing. (05/29/2018)

(U.S. Edition) You may see a “closed” sign on your local Starbucks this afternoon. The reason? Nationwide, the coffee giant is giving its employees racial bias training. We’ll recap why Starbucks is offering this training and look at what topics the sessions will address. Afterwards, we’ll discuss the Trump administration’s push to make “short-term” health insurance plans to become permanent — and why they might not be a good fit for many people. Plus: We talk to the BBC’s Helene Schumacher about the world of instruction manuals and why they tell us more than how to operate a product. (05/29/2018)

(Global Edition) From the BBC World Service … Italy is likely to return to the polls within months after the populist coalition’s nominee for finance minister raised the possibility of leaving the euro currency. But after the president prevented the appointment, protests broke out. So are his tactics merely delaying populists taking more power? Then, parents have become one of Britain’s largest mortgage lenders as younger generations struggle with soaring property prices the world over. Will young homebuyers ever have an opportunity to enter the market? Afterwards, it’s estimated more than 12 million people under the age of 30 will enter India’s labor force every year for the next two decades. One of our reporters headed to Kolkata to find out if there are enough jobs to go around. (05/29/2018)

Craig Newmark founded Craigslist, Inc. in 1995; the site has changed little since then.

There’s a lot of focus right now on the tech industry and its big personalities, as well as what they’re doing to help (or possibly hurt) society. However, one tech founder is trying to be a smaller personality while still leaving a big footprint on issues like education, support for military families, equality in tech and journalism. Craig Newmark founded Craigslist, Inc. in 1995 and the site basically looks the same now as it did then. Though it still bears his name, Newmark isn’t involved in the day-to-day at Craigslist. Marketplace Tech host Molly Wood spoke with Newmark about why he’s chosen philanthropy over being an entrepreneur in an effort to effect change. (05/29/2018)

Or are you in the 52 percent of American workers who left them on the table in 2017? We look at the economic effects of people taking their paid vacation time. And on this Memorial Day, the future of of the $55 billion VA Mission Act, which provides a boost of funding for the system that delivers healthcare to more than 9 million veterans. Plus, 41.5 million Americans are travelling this Memorial Day weekend despite the highest gas prices in four years, a personal story from the aftermath of the financial crisis and how meat companies are trying to satisfy meat lovers with meat-like alternatives.

Brands like Impossible Burger and Beyond Burger are changing the landscape of fake meat.

(Markets Edition) In Italy, a group of populist, right-leaning parties had been preparing to put together a government, but that got derailed after Italy’s president vetoed their choice for finance minister — someone highly critical of the euro. We’ll look at what this means for Italian politics, the health of the European Union and the eurozone. Is this a harbinger for political conflict elsewhere in Europe?  Afterwards, we’ll explore how Amsterdam is trying to curb the disruptive effects of tourism. While the city only has a population of around 850,000 people, it gets about 18 million visitors each year. (05/28/2018)  

(U.S. Edition) Thousands of Starbucks stores across the country will close tomorrow afternoon so that the company can provide racial bias training to its employees. We’ll hear from some social scientists about the effectiveness of this plan. Afterwards, we’ll look at how the rise in gas prices could mean more expensive airline rides, and then we’ll take you to China, where an unusual industry has popped up: scorned wives can pay experts to make their husband’s mistresses break off the affair. (05/28/2018)

Or is it just a phrase we use?

(Global Edition) From the BBC World Service … Italy’s populist coalition failed to form a new government after the country’s president rejected their choice for finance minister. The president is now holding talks today about a possible interim, technocratic administration. But it is welcome news for investors? Then, a state in southern India is threatening to permanently close a controversial copper smelting plant. There have been deadly demonstrations against the facility, which is run by a British firm. Afterwards, has wine earned a spot on your Memorial Day BBQ menu? If so, you might be interested to know about a new focus on Chilean wine, which is from a region that’s challenging winemakers with its desert climate. (05/28/2018) 

Scorned wives can pay experts tens of thousands of dollars to make their husband's mistresses break off the affair.

The legendary venture capitalist talks about his new book on measuring the right goals.

John Doerr is a legend in Silicon Valley and the venture capital world. He’s the chairman of the VC firm Kleiner Perkins Caufield & Byers, at which he has funded companies like Google, Amazon and Netscape. Doerr has also mentored many of their founders and sits on the boards of Google, Zynga and One.org — Bono’s nonprofit campaign to fight global poverty. But in his new book “Measure What Matters,” Doerr doesn’t dish on the history of the Valley or gossip about U2’s front man. Instead he talks about why setting objectives and measuring results is key to building a successful business. Marketplace Tech host Molly Wood spoke with Doerr about why the idea of setting goals and sticking to them is so controversial for some companies. (05/28/2018)