Author: Marketplace

The U.S. is on track for the largest number of announced layoffs since 2020. Yay us! (Kidding.) We can thank a combination of federal cuts and their ripple effects, an uncertain trade environment, and AI experimentation. After that, Jenny Han of “The Summer I Turned Pretty” tells Kai about her career journey from nanny and school librarian to novelist and Amazon Prime showrunner. Plus: recession indicators, a federally-backed lithium mine and industrial outdoor storage.

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Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Messy fights over funding the federal government have become all too familiar in American politics. Why are we like this? On the show today, The Brookings Institution’s Molly Reynolds joins Kimberly to explain how shutdowns became Congress’ political weapon of choice and why the federal budget process has gotten even more complicated under the Trump administration. Plus, we hear from you, our dear listeners.

Here’s everything we talked about today:

• "Congress has long struggled to pass spending bills on time" from Pew Research Center
• "Government shutdown continues as Senate Democrats hold firm on health care demands" from AP News
• "How John Thune sees the shutdown ending" from Politico

• "What are Democrats' demands in the government shutdown fight?" from Marketplace

  
  

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Federal worker layoffs are near, according to Trump administration officials. Earlier this week, the president said he would use the government shutdown to target "Democrat things." And a shutdown with layoffs may have more serious economic consequences than your average shutdown. For more on that we turn to Diane Swonk, chief economist at KPMG. Also on today's show: China launches a new visa to attract more international STEM talent.

Unemployment remains relatively low, but the labor market is slowing down. Private payroll company ADP estimates the private sector lost 32,000 jobs last month. Hiring has slowed, and it's taking longer for jobseekers to find work. And where there are people with anxiety and fear, there are scammers to prey on them. The Federal Trade Commission says reports of job scams tripled over the past four years. But first, why the Trump administration is sending memos to universities and what Democrats are demanding to reopen the government.

From the BBC World Service: Some European Union countries have backed plans for the new defense system to keep out unmanned aircraft from Russia. But how will it work, and what's the price tag? In France hundreds of thousands of workers have walked out over looming budget cuts and pension reforms. Today marks the 75th anniversary of The Turing Test, to tell the difference between a human and a machine. And we hear how Chilean businesses are adapting — or not — to an ageing workforce.

So far this year, LA defense tech companies have raised $4 billion in funding — more than double last year's haul, according to Los Angeles Times tech reporter Queenie Wong. She told Marketplace’s Nova Safo that venture capital firms are increasingly embracing military-focused tech.

The government shutdown means crucial jobs data will likely be postponed, right as the Fed weighs its next move. Chicago Fed President Austan Goolsbee, a self-described “data dog,” tells us how central bank officials plan to pivot. He also discusses Fed independence, transitory inflation, and rate cut pacing. After that: fiscal calendars vary by sector, synthetic dye removal will ripple through the food chain, and ADP reports more sour employment data.

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Markets are having to digest a lot right now. There's the government shutdown, plus new private payroll data showing the economy lost jobs in September. Susan Schmidt, portfolio manager at Exchange Capital Resources, joins us to break it down. Also on the show: the FAFSA portal is open. We look at what's different with this year's federal student aid applications and how the government shutdown could impact the process. Then, Marketplace's Sabri Ben-Achour continues his conversation with Susan M. Collins, head of the Federal Reserve Bank of Boston.

The slow-moving train wreck we've been watching unfold for a week, has indeed wrecked: the government officially shutdown at midnight. Hundreds of thousands of federal workers will be furloughed, and the Trump administration is threatening to fire others. Later in the show, Marketplace's Sabri Ben-Achour sits down with Susan M. Collins, president and CEO of the Federal Reserve Bank of Boston. They'll discuss tariffs, a cooling labor market and how the central bank is affected by a government shutdown.

From the BBC World Service: Eighteen sunscreen products have been pulled from shelves in Australia because of safety concerns; testing showed they did not offer the SPF protection claimed. As the U.S. tightens its H-1B visa scheme, China hopes it will gain from the launch of a new program to attract foreign talent. And can the United Arab Emirates become an AI superpower?