Solid wage and job growth showed up in the most recent jobs report, but some of that might be an illusion on the power of the labor market. For more insight, Julia Coronado of MacroPolicy Perspectives talks with us. Elsewhere, China appears to be easing up its zero-COVID restrictions. Then we learn more about the diffusion index, which could offer even more clues about the job market.

Restrictions designed to limit Russian oil exports take effect today, but there are questions as to how much actual effect they will have. Also, we look at what the wage rise reflected in Friday’s jobs report tells us. Chris Farrell talks to us about what separates Medicare and Medicare Advantage.

From the BBC World Service: Oil prices rise as an E.U. embargo on seaborne Russian oil comes into effect, along with a price cap. Estonian minister Riina Sikkut tells us it’s not low enough – but it’s a start. Elsewhere, China begins to relax its zero-COVID policy. And, we find out how Kenyan farmers are adapting to climate change.

Job numbers from the Labor Department came in strong, and to help us make more sense of them, we are joined by Chris Low of FHN Financial. Elsewhere, the saga over Biden’s student loan forgiveness plan has reached the halls of the Supreme Court. Then, we examine the Fed’s balancing act of taming inflation while also trying to keep people working.

We take a deeper dive into the policy, which has been the catalyst for a swelling of unrest and protests around the country. Elsewhere, the BBC reports on how BP is being urged to aid victims of the war in Ukraine.

From the BBC World Service: Not everyone is on board. Poland’s government is said to be seeking a cap that’s lower than the $60 broadly agreed to by European Union countries. And, some highlights from the last five years of our reporting from Turkey, Mozambique, India and the U.K.

Inflation actually cooled off, just a touch, according to a key measure. We talk to Michael Hewson of CMC Markets in London about what slowing interest rate hikes could mean for an economy. Also, the head of the European Council met up with China’s president.

Fed Chair Jerome Powell offered some clues about that this week. Also, Giving Tuesday numbers show a growing sense of generosity. Then, we look at the speculation looming over Germany’s leadership as it pertains to relations with China.

From the BBC World Service: An official visit by Charles Michel to Beijing comes amid persisting economic tensions between the two sides. Kenya’s president William Ruto has unveiled a new program to offer cheaper loans to entrepreneurs. It’s called the Hustler Fund – so named because on the campaign trail, Ruto said represented what he called the “hustler nation” of millions of young Kenyans struggling to make ends meet. UNESCO has added the French baguette to its “intangible cultural heritage” list.