Week of October 16th, 2023

The concept actually has a long and contentious history.

And the challenges behind sending humanitarian aid.

In 2022, inflation reached its highest level since 1981.

We’ll talk to some Americans who’ve taken a job at night or on weekends to make ends meet. Plus, why chain restaurants bring people together.

“It would be much better for consumers to just know how much everything was going to cost us right off the bat,” says Emily Stewart of Vox.

They may find it attractive to earn money while others are playing.

China produces two-thirds of the world’s natural graphite. The new permit restrictions could affect EV battery production in the U.S.

Stocks fall; GM proposes to hike pay 23%; Cleveland Fed president says rates likely near “holding point”; China to restrict graphite exports.

Full-service chain restaurants attract people from different income brackets and represent a way to break down class barriers, research shows.

Jerome Powell spoke Oct. 19 and said the Federal Open Market Committee would be “proceeding carefully.”

Federal Reserve Chairman Jerome Powell said another hike may not be necessary right away; CVS removing phenylephrine-based cold treatments; Rite Aid plans 154 store closures; Toyota adopting Tesla’s charging standard.

Argentine presidential candidates Javier Milei has vowed to dollarize Argentina’s economy and close down the central bank.

From faux English language programs to government impersonators, here’s how criminals are targeting immigrants.

We preview the billions in urgent foreign aid President Joe Biden is expected to request from Congress. Also: revisiting the net neutrality fight.

Parts of the economy are still running hot, and the the yield on the 10-year Treasury bond is going up. How is that impacting the Federal Reserve’s next rate decision?

From the BBC World Service: We investigate the relationship between China’s falling birth rate and the closure of a Nestlé baby milk factory.

Many of the people who made Israel the Startup Nation have turned their attention to national defense, reports Issie Lapowsky, a contributor to Fast Company. And many have shown support for civilians on both sides.

And the woolly worms’ prediction for this winter.

Easy access to weapons has fueled an underground supply chain that sends firearms and ammo south while drugs and migrants move north.

Today, we get into the nuance of unemployment and the racial wealth gap data. Plus, a coin designer and the 32-hour workweek, island style.

About 198,000 people filed new claims last week. The drop continues a downward trend, even in the face of higher interest rates.

And yet, more than half of Americans say they’re going to cut back on entertainment spending, because of rising costs.

Since those groups generally started with less wealth than white and Asian households, small changes have an outsize impact. 

It’s an attempt by San Juan County officials to attract and recruit workers in the remote and expensive area.

Stocks fall; home sales down 2 percent from August; unemployment claims rise; leading economic indicators suggest further economic weakness.

Nishad Singh, former head of engineering at FTX, took the stand this week in the fraud and conspiracy trial against Sam Bankman-Fried.

The pandemic was a financial rollercoaster for many, but it turns out the median household saw a 37% jump in net worth from 2019 to 2022 after adjusting for inflation.

Existing home sales are down 15% compared to a year ago; jobless claims fall below 200,000; American Airlines posts quarterly loss; E.U. increases scrutiny of social media’s handling of Israel-Hamas war disinformation.

Labour, the main opposition party in the United Kingdom, wants to undo a tax exemption private schools have enjoyed for decades.

The author of a new book explains why value is a key to helping teenagers thrive in high school and beyond.

Net worth increased, even for low-income families. But is this just a temporary improvement in the wealth gap?

With AP and IB classes, extracurriculars and test prep, the bar for success seems to keep getting higher for teens. And it’s taking a toll.

From the BBC World Service: Manchester United’s board is meeting on Thursday to consider a bid from British billionaire Sir Jim Ratcliffe to net a 25% stake in the club.

The Federal Communications Commission is considering restoring net neutrality regulations. That could influence access to high-speed internet across the country.

Plus, a Halloween candy chat.

In addition to getting career boosts, young people like the platform for its positive tone, says journalist Anya Kamenetz.

We’ve got three stories about how water moves — or stalls — the economy. Plus, why homebuilding is so expensive right now.

Low water levels in the Panama Canal are forcing a customs broker in Pennsylvania to reroute cargo so it’s deliver on time.

The number of completed homes rose last month. But further up the housing pipeline, homebuilders are starting fewer projects right now.

Annual family premiums for employer coverage went up an average of 7% this year, according to a survey out today from KFF.

In Texas, for instance, a new law licenses high school students for jobs monitoring and treating drinking water and wastewater.

Stocks fall; housing starts are lower than this time last year; resumption of student loan payments will have minor impact on consumer spending; labor market continues to loosen.

U.S. sanctioned 10 people and organizations; United Airlines to allow some window seat passengers to board first; Procter & Gamble profits lifted by higher prices; U.S. Bank beats quarterly earnings estimates by charging higher interest to customers.

If the conflict widens to include direct confrontation with other nations in the Middle East, the economic shockwaves could be significant.

While Morgan Stanley reported a drop in profits this morning, most major banks have posted strong earnings. We discuss. Plus, why doesn’t diversity training really work?

As actors continue to picket for a better contract, some Hollywood workers are forced to make tough decisions.

But it comes with strings attached.

Set builders, costume designers, makeup artists and more are having to get creative to pay the bills. Also: What’s in store for Lululemon as it joins the S&P 500?

From the BBC World Service: A senior aid worker explains the challenges and urgency of getting humanitarian aid to Gaza.

Shewanella oneidensis could be used to expand the supply of rare-earth metals used in electric vehicles, wind turbines and other environmental technologies, according to Cornell’s Buz Barstow. China currently dominates the market for the minerals.

Why a scrubby acre of desert is worth so much to a small city with big dreams

Jigar Shah of the Energy Department says nuclear energy will become more critical as electricity demand surges.

Producers of vaccines, diagnostic tests and protective gear are losing revenue as COVID concern ebbs. Plus, why fewer people in China are getting married.

Makers of vaccines, tests and even protective gear are struggling to adjust to slackening demand.

“The Dish” by Andrew Friedman shows just how many steps the phrase “farm to table” skips.

People get married for love, traditional cultural beliefs and to have a social safety net.

Overall, remote work has declined since 2021. Though they share a border, Colorado and Wyoming have the highest and lowest shares.

The way the Census Bureau calculates its retail sales data wasn’t an issue until prices started rising a couple years back.

Stocks close mixed; inflation pushes up retail sales; industrial production rises; Bank of America profits grow.

More than 50 districts ended or curbed their use of school resource officers following the murder of George Floyd. Now that some are reversing course, we examine the costs.

September retail sales jumped 0.7%; Choice Hotels makes $8 billion bid for Wyndham; Bill Ford warns strike could hurt automaker’s future; analysts expect Netflix to report subscriber growth when it posts quarterly earnings tomorrow.

Schools with an SRO present report about 30% fewer violent offenses than those that don’t. But it’s not for free.

Overt racism in the workplace is illegal, but that doesn’t mean work is equitable.

We’re joined by Washington University’s Adia Harvey Wingfield to hear how certain workplace dynamics allow racism to persist and how they can be addressed.

From the BBC World Service: With Russian president Vladimir Putin slated to hold talks with Chinese president Xi Jinping, we discuss the trade relationship between the two countries.

The Internal Revenue Service is running on a 1960s computer system. Funding from the Inflation Reduction Act is helping the agency upgrade.

You won’t believe how many quarters went into making this episode!

A federal lawsuit could upend the way real estate works.

For the first time, the electric vehicle maker’s market share is under 50%.

If new steel had higher tariffs than recycled steel, the climate-friendly choice could build market share. Plus, mortgage broker boredom and drugstore blues.

Recent research finds that higher tariffs on dirtier imports could reduce carbon emissions.

It’s good news for natural gas users, but a less positive outlook for heating oil consumers and low-income households.

Corporate mergers and competition from supermarkets, discount clubs and online startups — among other forces — have altered how pharmacies need to do business.

Vivian Gueler of mortgage lender Pacific Trust Group says business has been “dead quiet” for the past few months.

Stocks rise; Rite Aid will close some stores; Lululemon Athletica will join the S&P 500; housing data due this week.

Annie Lang Hartman, owner of Wild Lettie, is planning ahead. And one of her biggest concerns is payroll.

Econ Extra Credit newsletter #170

Company earnings so far show 84% beat estimates, according to FactSet; WSJ survey finds recession risk below 50%; Rite Aid files for bankruptcy protection; Swift concert film makes record debut.

It’s part of the economic case for what towns and cities can gain by investing in nonprofit and local arts.

Hiring managers that include pay ranges in job postings tend to receive more applications and more qualified candidates.

Petitioning for union representation is just the first step in forming a union, and not all efforts make it to the finish line.

The number of union petitions filed in the past year rose 3%, new data shows. We also preview what we expect to hear in speeches from Federal Reserve officials this week.

The pharmacy chain has been limping along for years and has been hammered by opioid lawsuits. Later: What are the returns on investments in the arts?

From the BBC World Service: TikTok says it is taking action against false and inaccurate content. Plus, Greece’s olive oil has been the target of high-profile thefts.

Jerry Lawson, a Black Silicon Valley engineer, changed the path of the video game industry by helping create the game cartridge.