One consequence of labor shortages? Lower inequality
Mar 8, 2023

One consequence of labor shortages? Lower inequality

Workers throughout the economy have seen a rise in bargaining power driven by labor shortages. But according to a new paper, it's lower-income workers who've seen their wages rise the most, which translates into lower overall inequality. Fed Chair Jerome Powell spoke in front of the Senate Banking Committee yesterday, saying that the strength of the economy means rate hikes are likely to last longer to fight inflation. And, in honor of International Women's Day, we spoke to Bridget Bodnar, co-host of Marketplace's kids podcast Million Bazillion, about how her team approached teaching children about the gender wage gap. 

Segments From this episode

Resurgent economy foils Fed inflation fight

Mar 8, 2023
Strong consumer spending and job gains so far in 2023 spur Fed Chair Powell to double down on rate hikes.
U.S. Federal Reserve Board Chair Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee.
Mandel Ngan/AFP via Getty Images

Lower-income earners' wages have grown faster than others

Mar 8, 2023
A tight labor market has helped low-income workers raise their wages, according to a new working paper.
Many young people without degrees have left jobs in restaurants and hospitality to move to higher paying fields.
Joseph Eid/AFP via Getty Images

The team

Leanna Byrne Host, BBC
Meredith Garretson Senior Producer
Erika Soderstrom Producer
Alex Schroeder Producer
Ariana Rosas Producer/Director
Jarrett Dang Digital Producer
Jesson Duller Media Producer
Nick Esposito Media Producer
James Graham Producer, BBC
Jo Critcher Producer, BBC
Olie D'Albertanson Producer, BBC