Author: Marketplace

President Donald Trump fired the commissioner of the Bureau of Labor Statistics earlier this month, claiming that the monthly jobs numbers — which were revised downward — were “rigged” to make him look bad. Plenty of companies use BLS data to make business decisions. With questions raised about the quality and regularity of that data now, how do alternate data sources compare? Also: a flare of inflation at the wholesale level and a comeback for adjustable-rate mortgages.

In addition to the many considerations surrounding cost, those who lost homes in this year's California wildfires may also be looking for an environmentally-friendly way to rebuild that's able to withstand the next fire. Today, Marketplace's David Brancaccio explores mass timber, which doesn't burn easily, as an option for home reconstruction. But first, New York’s attorney general is suing the company that runs Zelle, alleging its customers were left open to fraud.

From the BBC World Service: Talks on the world’s first legally binding treaty to end plastic pollution are coming to an end, and so far, there's no deal. What are the major sticking points, and what's the likelihood of finalizing an agreement? Then, dairy farmers in the United Kingdom are warning that a chronic shortage of skilled workers is threatening the country's food security. And later, Fortnite could return to Australian smartphones.

China’s labor market is known for being intense, especially in the tech sector. For years high profile tech workers have embraced the “996” schedule – that's 9am to 9pm six days a week.

And recently, Silicon Valley startups have reportedly been leaning in to the “996” grind themselves. So now China is taking it up a notch.

HBO Max’s “Hacks” often tackles the push and pull between art and profit in the entertainment industry. It’s a topic the show’s creators are deeply familiar with. In this episode, “Marketplace” host Kai Ryssdal discusses that tension — as it appears in the show and in real life — with “Hacks” showrunners Paul W. Downs and Jen Statsky. Plus: Job-finding sites struggle as hiring slows, and response rates to government surveys fall.

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Since President Trump’s firing of the Bureau of Labor Statistics commissioner over a weak jobs report, we’ve been thinking a lot about the trustworthiness of U.S. economic data. Other countries like China can offer a glimpse of what happens when that trust erodes. On the show today, Marketplace’s China correspondent Jennifer Pak explains how she works around unreliable data when reporting on the Chinese economy. Plus, could the United States be headed in the same direction?

Here’s everything we talked about today:

• "12 million students in China will graduate this year into a shaky job market" from Marketplace
• "China says its unemployment rate is “stable,” but job seekers remain gloomy" from Marketplace 
• "Is GDP still a useful gauge of China’s economy?" from Marketplace
• "How Bad Is China’s Economy? The Data Needed to Answer Is Vanishing" from The Wall Street Journal  
• "How to deal with untrustworthy government economic data? Look to China" from Marketplace

• "Trump taps Heritage economist to lead BLS" from Politico

  
  

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Recently, President Donald Trump fired the head of the Bureau of Labor Statistics after revisions depicted a weaker job market than initially thought. This week, Trump called on the CEO of Goldman Sachs to get rid of his chief economist, after the economist predicted that tariffs would force consumers to pay extra. What should consumers and investors make of this? We'll discuss. And later, we'll hear how French factories are benefiting from increased defense spending.

Social Security turns 90 tomorrow. Some 74 million Americans receive the benefits, and a new survey shows that 65% of retirees rely on them. Roughly 40% of Americans have no retirement savings at all, and this precarity comes at a time when Social Security faces the possibility of benefit cuts. Plus, Trump's tariffs are generating billions in revenue monthly, and Brazil's president announced $5 billion to help smaller companies deal with tariffs.

From the BBC World Service: United Kingdom-based engineering giant Rolls-Royce first made its name in luxury cars, but after selling its motor business nearly 30 years ago, it’s now known for its aircraft engines and defense manufacturing. Speaking exclusively to the BBC, its CEO is betting on artificial intelligence and nuclear technology as a path to becoming the UK's highest-valued company. Plus, why have European countries been stepping up their defense spending?

Implementing AI in government agencies — where the public goes for things like food stamps and unemployment or disability benefits — could come with tradeoffs, according to a recent report by the Roosevelt Institute. Marketplace’s Meghan McCarty Carino sat down with Samantha Shorey, who authored that report on AI and public administration.