Marketplace

The World Economic Forum is warning of a “polycrisis,” with major geopolitical and economic threats compounding one another. Talk about a gloomy picture, huh? On today’s show, we’ll unpack the predictions. Also, a tale of two state budgets, an experiment in virtual nursing and a big bank backs away from the mortgage biz.

Russia’s primary export grade of crude oil is trading at less than half the global benchmark price, thanks to a price cap and European embargo. But whether those sanctions will work in the long run remains an open question. Today, we dive in. We’ll also look at a proposed student loan repayment plan, the relationship between food insecurity and health care spending, and the impact of defunding the IRS.

This week, we’ll get Q4 earning reports for big banks, like JPMorgan Chase and Wells Fargo. Economists will be eyeing those balance sheets for hints of where the economy is and where it may be headed. Then, what a proposed noncompete ban would mean for lower-wage workers, what’s behind a right-to-repair win for farmers, and what goes into elevating homes to protect them from flooding.

Workers have enjoyed healthy earnings increases in the past year, but tucked into today’s jobs report was data showing that the pace of those gains is moderating. Though it’s welcome news for the Federal Reserve’s inflation fight, it also means that workers’ pay continues to trail the rise in prices. Plus, the winners so far of the electric vehicle boom, a California law incentivizes worker-owned businesses and the perks (and drawbacks) of living with your parents at 24.

Amazon and Salesforce are among the companies to recently announce major staff cuts. Layoffs are often one of the first ways employers curb costs, but they can jeopardize a company’s public image and employee goodwill. Today, we’ll look at how firms choose who stays and who goes. We’ll also check in on faltering import and export trade, an uptick in corporate borrowing and the whiplash effect of China’s “zero-COVID” policy.

On New Year’s Day, 23 states raised their minimum wage, benefiting an estimated 8 million workers. But pay scales have already been rising in a tight labor market. Today, a look at where minimum wages stand in a job market that economists expect to weaken. Also on the show: Small business layoffs tick up, social media shifts how we spend and a Louisiana town elevates homes to evade flooding.

A tight labor market is always a positive thing, right? While it can be good for wages, those unfilled jobs can limit productivity and economic growth. Today, a look at the risks of an economy with missing parts. Then, what’s in store for Big Oil after a profitable year, why demand for cars is softening and what’s behind Gen Z’s proudly pro-union stance.

Yesterday, California expanded a privacy law requiring companies to disclose the data they collect from consumers, how it’s used and who it’s shared with. Those requirements now apply to employers too. Today, a look at what it means for companies in the state and beyond. Also on the program: a discussion of the Federal Communications Commission’s new broadband availability map and a look at treatment for substance abuse disorder and its  impact on the workforce.

Today, we’ll look back at the major economic stories of the year and lay down some predictions for 2023. The biggest throughline? Inflation, the Federal Reserve’s interest rate hikes and the ripple effects of both. We’ll also see whether Southwest Airlines can regain customers’ trust and whether coal’s comeback in Europe can last. Plus, we’ll consider the viability of plant-based clothing.

The housing market is ending 2022 on a pretty sour note. Mortgage rates are still high and the threat of a recession looms. Today, we’ll outline what to expect for the housing market in the coming year. Plus, the federal student aid office has a lengthy 2023 to-do list, the U.K. is rocked by strikes during the holidays, and bakeries around the world grapple with rising supply costs.

The National Labor Relations Board is tasked with overseeing union activity, but its resources have been stretched over the past decade or so. Today, a look at what a funding increase means during an important moment in labor organizing. Plus, the race to spend remaining flexible spending account dollars, the priorities and programs in the 2023 Farm Bill and the costs of running migrant rescue operations in the Mediterranean.

Today, we dive into two components of the omnibus spending bill Congress passed last week. We’ll examine how a funding advance for the Indian Health Service could help serve Indigenous communities and how a bundle of reforms could help bridge the gender gap in retirement savings. Also, we’ll take a look at what’s next for power grids following holiday outages and check in on the persistent infant formula shortage.

In the coming year, roughly 1 in 5 Americans will live in a state that requires employers to disclose salaries in job postings. While the laws cover a small number of jurisdictions, the impact could be far-reaching. Could this be a tipping point in how we talk about pay? We’ll also hear what’s driving online sales, look at what’s plaguing wastewater services and translate some Gen Z slang.

According to the Federal Reserve’s preferred inflation measure, prices crept up for services in November but ticked down for goods. It’s a story of shifting consumer demand and rising wages in the service sector. Also on today’s program, we’ll unwrap the government’s spending bill in the Weekly Wrap, gauge how consumers are feeling about this economy and visit New Mexico for some delectable holiday tamales.

Today’s revised gross domestic product report includes a tally of corporate profits, which were up 10% over the same time a year ago. Even companies that are selling fewer products are reaping higher profits. Those businesses are passing along rising costs, which people are willing to pay. But how long can the good times for corporations last? Plus, building emergency savings and refilling the U.S. oil reserve.