Week of April 3rd, 2023

Instructors are investing their cash, along with their skill and passion, in their students’ education.

Labor force participation for 20- to 24-year-olds is lagging. Zoomers whose educations were interrupted by the pandemic are still catching up.

Plus, we play a round of Half-Full/Half-Empty.

“Spaces like this are really important for not just sports and not just representation, but for the people who come to be a part of that community,” said Jenny Nguyen, owner of the Sports Bra in Portland, Oregon.

Professional matchmaker and dating coach Michelle Jacoby tells us why finding love is not just about following your heart.

It wasn’t until she started researching her book that Elva Ramirez learned about the origins of the mocktail.

The USDA says kids’ health is at stake with the proposed nutrition standards. But some manufacturers say making food with less salt and sugar will cost more, while nutrition directors are worried students won’t eat the meals.

The Department of Agriculture is mulling new nutritional standards for school meals. Can kids, and schools, stomach the changes? Plus, unpacking employment numbers in the Weekly Wrap.

Fed rate hikes are kinda starting to slow down the labor market, but unemployment is still very low, and the economy isn’t reacting as experts expected.

The government’s official jobs numbers dropped this morning, and it showed a slowdown in the number of workers being hired with an unemployment rate of 3.5%. That signals progress toward the Fed’s goal of cooling off the labor market, says FHN Financial chief economist Christopher Low, but it may not be enough to satisfy Jerome Powell and Co. Plus, we look at why Native Americans are often under-represented in government data and what can mean when big datasets like the jobs report come out. And, why Wyoming is still trying to solicit crypto investors amid the industry’s recent high-profile scandals. 

One of the reasons revolves around issues of racial classification on official documents like the Census.

Wyoming is continuing its efforts to bring cryptocurrency into the mainstream, but some are questioning whether that’s a good idea.

Lumber prices have stabilized after unprecedented volatility.

Samsung, the South Korean electronics giant, reported that profits declined by a whopping 96% in Q1 of this year due to slowing demand for microchips and other electronics. We look at the company’s decision to cut production of microchips as a result of the news, and what that says about the wider economy. Plus, lumber prices may be coming down from sky-high pandemic rates, but that will likely do little to alleviate the housing crunch. And, a story of how a Native American group negotiated for the removal of a dam in North Carolina in order to restore the tribe’s land. 

From the BBC World Service: 25 years ago this weekend, the Good Friday Agreement brought an end to 30 years of conflict in Northern Ireland. Plus, an Australian mayor may sue the company behind ChatGPT after it falsely claimed he’d been jailed for bribery. And, in the UK, printing is underway of new banknotes featuring King Charles III.

Dismantling a century-old barrier in North Carolina would reopen a river, restore species and benefit Indian land. But will it be funded?

As thousands call for a pause in the development of artificial intelligence, Will Rinehart at Utah State University warns against applying old regulations to new technology.

A landmark sweatshop case and immigrant parents helped inspire Julie Su’s efforts for vulnerable workers, a 19th reporter says.

Yachts, resorts, private jets. Oh my!

In Oklahoma’s Osage Nation, the construction of a 200-mile fiber network is underway, but hurdles abound.

Banks appear to be pulling back on making loans. Plus, what we can learn from the track record of the secretary of labor nominee.

The new entry-level price for a new vehicle is $25,000, auto research site Edmunds says.

A Dallas Fed survey found signs that banks are pulling back on loans. High rates may also be dampening interest among borrowers.

That’s good news for in the fight against inflation, as long as consumers don’t cut spending so much that the economy tips into recession.

The tax filing deadline is approaching for most Americans, and a significant number will benefit from new green credits set out in the Inflation Reduction Act. We look at what these new tax credits are, as well as how they could benefit people who installed heat pumps, switched to solar panels or bought electric cars last year. Plus, new data shows that the number of people seeing unemployment benefits ticked down but remained higher than expected — KPMG Chief Economist Diane Swonk tells us what that could say about the labor market. And, why some people who were laid off are not seeking unemployment benefits. 

The Inflation Reduction Act adds new tax credits for home energy efficient tech.

A lot of them don’t even know they’re eligible.

Meta, the parent company of Facebook, is looking to follow tech giants Microsoft and Alphabet into the world of computational artificial intelligence — albeit a bit belatedly. We look into what the company is dubbing “SAM”, which is in development to complement AI systems like ChatGPT. And, amid news of charges against a startup CEO who allegedly defrauded JPMorgan of $175 million, we talk with DePaul accounting professor Kelly Richmond Pope about her new book on the complexity of modern financial fraud. 

From the BBC World Service: France is facing another day of strikes and protests after talks between trade unions and prime minister Elisabeth Borne failed to make progress. Unions say she refused to discuss rolling back on legislation raising the retirement age from 62 to 64. We hear from a train driver involved in the protests. Plus, thousands of people have taken to the streets in Argentina over spending cuts imposed as part of a $44 billion debt repayment deal with the International Monetary Fund. And, a copy of the first Shakespeare folio — a collection of some of his most famous plays — has gone on sale with a price tag of $7.5 million.

“Fool Me Once” by Kelly Richmond Pope looks at the world of financial fraud — and how seemingly regular people can become perpetrators.

The French government is considering a measure to limit parental powers to post images of their children online.

We explain the many ways donor funds can cover legal expenses.

Blame it on dried-up pandemic tax credits. Plus, a tearful goodbye between neighbors marks a new (business) beginning.

When Bonnie Rough’s beloved next-door neighbors moved away, they created space for her to launch a short-term rental business.

Recent scandals involving FTX and Frank leave some wondering if enough research was done on the startups, and who was supposed to do it.

This type of mutual fund invests in short-term, low-risk debt. Currently they’re earning higher interest than savings accounts.

Pandemic tax credits have dried up, like the temporary expansion of the child tax credit and the earned income tax credit.

They create both chaos and money-making opportunities for businesses.

The jobless rate for young workers has jumped since late 2021 and loan repayment is back on the table. Soon-to-be grads are scrambling.

The indictment, arraignment and upcoming trial of former president Donald Trump in New York captured headlines yesterday, but it’s 200 miles away in Washington D.C. where the economic effects of the spectacle could be felt. We talk with the Eurasia Group’s Jon Lieber about what Trump’s legal imperilment could mean for polarization and policymaking on Capitol Hill. Plus, we chat with Lindsey Piegza, Chief Economist at Stifel Financial, about the latest trends in interest rates and today’s ADP jobs report. Also, Johnson and Johnson is looking to settle lawsuits over its talcum powder for around $9 billion. And, how Zimbabwean mining companies are being impacted by rolling blackouts across the country. 

Researchers at the University of Rochester created a material that could make superconducting possible at room temperature.

The country has an ambitious goal to reach $12 billion in mining exports in 2023, but industry leaders say they can’t get ahead without reliable electricity.

Job openings fell by more than 1.3 million in January and February, according to fresh data, but are above pre-pandemic levels.

There are signs that the job market cooldown, which has been slow to materialize, is starting to accelerate. Fresh data from the Labor Department released yesterday saw a marked decrease in job openings — while that may spell good news for the Fed’s fight against inflation, openings are still way above pre-pandemic levels. And, we speak with the University of Rochester’s Ranga Dias, who tells us about a potentially revolutionary breakthrough that researchers made looking into room-temperature superconductors.

From the BBC World Service:  French President Emmanuel Macron and Ursula von der Leyen  – the Head of the European Commission – are in Beijing. Will any deals be made on trade and can they convince China to stop their support of Russia? BBC’s Mariko Oi explains. Plus, BBC Correspondent Anna Holligan reports on a court’s decision to overrule a 10% reduction in flights from Netherland’s main airport.

How a rumor about welfare cheats transformed a small city.

Gary Marcus says he signed an open letter urging a pause in artificial intelligence development based on concerns about misinformation. He worries that digital manipulation will make the 2024 election a “train wreck.”

How did the rifle used in so many mass shootings come to dominate the consumer market?

“It really is important to remember that confidence and trust really underpin our financial system,” says Emily Stewart of Vox.

A subscription-based coworking site in San Francisco functions as a private coffee shop for members and fosters collaboration.

A less robust job market has made corporate leaders’ preference easier to implement.

Fewer job openings? Normally that’s not great news, but it could actually be an encouraging sign right now. Plus, retailers can finally slim down their inventories.

Fewer job openings in normal times might be not great news, but right now, it is — cautiously speaking — a good sign. 

A power plant in the offing will need trained workers to build and operate it. A local college has the first power-line program in the state.

The cycle of shortages and overstocking may be easing, thanks to supply chains restarting in Asia and the cost of storing products.

Lee Hawkins, host of an upcoming podcast from APM Studios, talks about how racism can affect victims’ health outcomes.

Florida, the nation’s fastest-growing state, is in need of a lot more nurses to accommodate its growing population. One way it’s looking to fight the shortage is by routing more government funding to nursing schools to attract more students. Today, we get data on the number of job openings — we speak with analyst Guy LeBas about what could be in the release. And, there’s a new analysis out that shows the hottest jobs markets in the country are in states along the so-called “Sun Belt,” which includes cities like Austin and Nashville.

Many colleges and universities are using state funding to recruit and retain students, as well as instructors, to boost nursing degree graduates and fill job openings in the state.

Virgin Orbit, the arm of billionaire Richard Branson’s larger company that sought to break into the space industry by launching satellites from airplanes, has filed for Chapter 11 bankruptcy protection. We look at what that means for the Virgin Group, and how it could affect the larger commercial space industry. Plus, we talk to Lee Hawkins, host of American Public Media’s upcoming podcast on the family of Dr. Martin Luther King Jr. and how their health has been impacted by the struggle for civil rights. 

From the BBC World Service: $2.5 billion — that’s how much the French beauty giant L’Oreal is buying Australian skincare brand Aesop for. It’s L’Oreal’s largest takeover in decades, but why did they want Aesop so much? BBC’s Phil Mercer in Sydney gives us the details. Plus, BBC’s Jane Chambers finds out why there’s an increase in the number of urban cowboys in Uruguay.

New Jersey is working with operators of gambling sites to electronically track players and look for signs of addiction.

Who’s making money from Trump’s indictment?

If oil prices rise more, the potential for a recession could grow. Also, crypto gets a lift from the banking turmoil.

The brands are merging to form a new publicly traded company. It could give fans of each fighting world a chance to learn to like the other.

Journalist Alissa Quart says America’s myths about self-reliance have overshadowed the roles that communities play in financial success.

The economies of China, the U.S. and Europe will all be affected by the cartel’s move to boost energy prices.

Nine of the 10 hottest big city job markets in 2022 were in the South, according to an analysis from the Wall Street Journal and Moody’s Analytics.

Bitcoin and other digital currencies are riding a wave of momentum that started last month after tumult in the banking industry.

A generous tax break has attracted American moviemakers to the U.K., but the measure has its critics.

Construction in the manufacturing sector has been booming over the last year, thanks in part to Federal encouragement. That said, the U.S. economy still relies on foreign manufacturing.

One of the main jobs of central banks such as the Federal Reserve is to set interest rate targets, which can have wide-ranging effects on the economy. These days, amid shakiness in the banking industry and persistent inflation, that calculation has gotten harder. We speak with Susan M. Collins, president of the Boston Fed, about how she thinks about the tradeoffs and other considerations that go into rate decisions. And, economist Julia Coronado gives us a taste of what economic stories could move markets this week, including oil anxiety and Friday’s jobs report.

A conversation with Susan M. Collins, president of the Federal Reserve Bank of Boston.

There’s been much talk of monetary policy in the wake of recent bank failures, especially as the Federal Reserve continues its fight against inflation. We have one such important conversation with Susan M. Collins, President of the Federal Reserve Bank of Boston, about body’s role in everything from setting interest rates to safeguarding the financial system. And, a look at the implications of OPEC+’s recent announcement that member countries will significantly cut oil production.

From the BBC World Service: With some of the biggest oil producing nations in the Middle East voluntarily cutting output by over one million barrels of oil a day, what will the impact be? The BBC Middle East Business Correspondent Sameer Hashmi is in Dubai finding out. Plus, it’s one of Senegal’s most visited tourist attractions, but the Pink Lake is no longer so pleasing on the eye, the BBC’s Soraya Ali reports from Dakar.

Thousands of experts are sounding alarms about a potential dark future created by artificial intelligence. Computational linguist Emily M. Bender, however, says we should be more concerned about the harm the technology is already causing.