Inflation trumps wage gains

The latest BLS data put real hourly wage gains at -0.3% last month, compared to last year. That’s thanks to inflation running hotter than pay raises. To make up for it, some workers are putting in extra hours or dipping into their savings. In this episode, how much longer can Americans cope with what are effectively inflation-driven pay cuts? Plus: The gender wage gap slows economic productivity, housing starts grow in the Northeast as they fall elsewhere, and we weigh the possible outcomes of next week’s FOMC meeting.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.Read the stories in today’s episode:Last call for Fed rate predictionsInflation has devoured pay gains over the past yearWhy the gender pay gap holds back productivityRetiring at age 37 to give back to the communityHousing starts are down in most of the country. Here's why the Northeast is the exception

Oil industry analysts were hopeful earlier this year that Trump’s war in the Middle East would be short-lived. But it’s become clear that an open flow of oil through the Strait of Hormuz will require sustained cooperation between the U.S. and Iran. S&P Global now expects dampered production and choppy prices to continue into 2027. Also in this episode: Trucking costs are pushed up by record-breaking diesel prices and a shortage of English-speaking drivers. And, is it a good idea to use AI to develop pharmaceutical drugs?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.Read the stories in today’s episode:The oil roller coaster reaches new heights — and it's a bumpy ride aheadTrucking costs are rising fast. That could mean even more inflation for consumersThis audio affects business is still waiting on tariff refundsHow this Georgia factory is surviving America's solar policy whiplashIf AI helps speed up drug development, can the FDA keep up?The construction manager who quit his 9-to-5 to build something for himself

Healthcare affordability is top-of-mind for many Americans right now. And for a long time, state legislators’ only avenue for easing that burden was through care subsidies. But what about looking at the problem from a whole new angle? In this episode, two states, unalike in their political leanings, try out healthcare price caps. Plus: Rising oil prices push up short-term bond yields, more homebuyers look into adjustable-rate mortgages, and we try to predict Fed Chair Warsh’s next move.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.Read the stories in today’s episode:High oil prices are pushing up short-term bond yieldsWhat will Kevin Warsh do? He's not tellingMore states are trying price caps to tackle healthcare affordabilityAs mortgage rates rise, some homebuyers are choosing adjustable-rate loansOwning a home with a friend means learning how to talk about money

Canada levied a range of tariffs on U.S. goods Tuesday, escalating an ongoing trade war launched by President Donald Trump. It isn’t the first time the two countries have tiffed over trade, but it is, by at least one historian’s estimation, unprecedented. In this episode, we trace the neighboring nations’ historic partnership, and weigh what’s next. Plus: Small business owners report mixed economic outlook, ChatGPT recommends a made-up deodorant brand, and Monterey Park, California, models community-led data center resistance.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.Read the stories in today’s episode:The U.S. and Canada have had trade spats before, but this one might be differentThis California city became a model for resisting data centersSmall business owners have mixed feelings about the economyHow a fake deodorant brand got recommended by AIBrick-and-mortar bookstores are back

Prices are rising faster than average wages in this economy, and many Americans have turned to credit to keep up. They are paying it off for now, but what happens if the Fed raises interest rates later this month? Also in this episode: Artificial intelligence appears to be the cause of some job cuts in the finance sector, business owners along Spain’s Camino de Santiago report busier foot traffic — for better and worse — and the Mexican government rolls out a line of small electric cars.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.Read the stories in today’s episode:Consumers turn to credit as prices riseAs finance and insurance lose jobs, AI gets most (but not all) of the blameThis activewear brand says tariffs are still taking a tollMexico launches its own electric car to show it can do more than build for other countriesA former firefighter reflects on life — and money — as a stay-at-home dadHow a 1,200-year-old pilgrimage is reshaping local economies in Spain

This economy added twice the amount of jobs expected in August, which is good news for the labor market. Still, the latest jobs report showed average hourly earnings were up just 3.1% annually — the slowest growth in more than five years. In this episode, when we can expect wages to start keeping up with inflation. Plus: American tourism to Europe is up, some farmers rely on decades-old machinery as budgets tighten, and one mom goes back to school 15 years after she started.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.Read the stories in today’s episode:Jobs are steady. Prices are high. What will the Fed do?Wage growth can't compete with inflation right nowSqueezed by a tough economy, many farmers are relying on decades-old machineryMore American tourists are visiting EuropeThis mom of six is rewriting her career by going back to school

American oil giant Chevron plans to funnel $7 billion into its Venezuela operations over the next five years, with a goal of more than doubling its production in the country. In this episode, we explain what Chevron has to gain from the deal and why other oil companies are hesitant to follow. After that: Can zero job growth be part of a healthy labor market? Are diesel prices affecting railroad freighting demand? And, will better-fitted windows turn into energy savings?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.Read the stories in today’s episode:Chevron's $7 billion bet on Venezuelan oilCan zero job growth really be a sign of a healthy labor market?How the cost of childcare pushed this twin mom out of the labor forceWhy more companies are choosing trains over trucks for shipping"Buy now, pay later" loans creep into essentials for many consumersYour house's windows are probably leaky. Replacing them saves on utility bills

The average cost of a gallon of diesel was $5.68 on Wednesday — just 13 cents shy of a record high. Tariffs and ongoing wars are both to blame. But so is a seasonal upswing that happens every fall. In this episode, why diesel prices are likely going to get even steeper before they cool off. Plus: A computer model helps make the case for fewer mandated parking spots in city construction projects, Uber wants to shrink its middle management, and Alaska families celebrate dipnetting season. 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.Read the stories in today’s episode:Why high diesel prices are coming at a particularly bad timeWhat it takes to reopen 19 months after a wildfireUber lays off 10% of their workforce to make the company "simpler and faster"To spur more housing construction, Denver changed its parking rulesMale loneliness epidemic? Try economic loneliness epidemicIn Alaska, dipnetting for salmon is about more than what’s caught

Bond yields jumped to multi-decade highs in some countries this week, as market anxiety about inflation and the Iran war grows. The U.S. is not exempt from this turmoil. Borrowing rates could balloon, affecting the Fed and your wallet. We’ll explain. Also in this episode: The labor market barely budges in July job openings and labor turnover data, U.S. solar energy storage capacity nearly doubles under President Trump, and Reddit becomes valuable internet real estate in the age of AI.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.Read the stories in today’s episode:Rising global bond yields will put pressure on U.S. interest rates, tooThe labor market in July showed very little movementFor this Mississippi barge line, labor is more of a concern than tariffsWhy solar energy storage capacity has nearly doubled since Trump took office"The heart of the internet": AI has marketers flocking to RedditFrom medicine to HVAC: one entrepreneur's journey

In Texas oil country, September usually marks the beginning of maintenance season. But with refineries running at near-100% capacity to meet increased demand, this fall might look a bit different. In this episode, can the global oil market weather an even tighter supply squeeze? Plus: Fed watchers expect an interest rate hike in September despite Trump’s opposition, U.S. consumers keep up spending in the face of mediocre jobs data, and ski resorts hoard snow for the warmish winter.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.Read the stories in today’s episode:Why interest rate expectations are pointing northThe 'meh' job market hasn't slowed consumer spending muchInside the business of selling people their own family photo albumsAfter a disastrous foray into real estate, this first-time buyer didn't let fear hold her backCan U.S. refineries afford to slow down for maintenance season?Ski resorts keep some snow in the bank this summer