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cover of episode Labor force participation dropped last month

Labor force participation dropped last month

2025/6/6
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Marketplace
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People
A
Alan Vizcarra
A
Ana Swanson
C
Corey Staley
D
Drew Kettleson
H
Heather Long
无具体信息可用于构建Heather Long的个人简介。
K
Karen Aceves
L
Lei Chongrei
P
Preston Moy
S
Sandra Adela Fuente
V
Vicky Su
V
Victor Morales
Topics
Heather Long: 作为海军联邦信贷联盟的首席经济学家，我认为虽然就业数据总体良好，但需要保持谨慎。新增就业主要集中在医疗保健和酒店业，这使得经济的多元化程度不够。其他行业，如临时帮助、专业和商业服务、制造业甚至零售业，都出现了就业岗位减少的情况。政府部门的就业岗位也有所减少，这使得整体就业形势看起来不那么强劲。我一直称之为“谨慎经济”。 Ana Swanson: 作为《纽约时报》的记者，我认为经济总体看起来强劲，但也存在一些不确定因素。关税正在影响依赖贸易的行业的招聘。制造业和零售业的就业岗位减少，运输和仓储业的就业岗位在年初激增后有所回落。机械制造业也出现了大幅下滑。这些都暗示着企业可能因为关税等不确定因素而推迟重大决策。尽管总体情况良好，但就业增长并不广泛，许多行业都在裁员。

Deep Dive

Chapters
While the headline jobs number for May was positive, a deeper dive reveals a less optimistic picture. Job growth was concentrated in just two sectors, and several other sectors experienced job losses, raising concerns about the economy's overall dynamism. The discussion also touches upon the President's comments on the economy and the Fed's response.
  • 139,000 new jobs in May, but 80% from healthcare and hospitality
  • Job losses in manufacturing, retail, and professional/business services
  • President's call for Fed rate cuts ignored by markets

Shownotes Transcript

The latest jobs report is out Friday, and overall it’s pretty middling — some details are good news; others not so much. One data point sounding economic alarms? The labor force participation rate, which fell to 62.4% in May after several years of general growth since the height of the pandemic. In this episode, we explain what’s going on. Plus: E-commerce exporters in China describe the “rollercoaster” of keeping up with tariffs, and California’s Central Valley experiments with agricultural innovation.

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