The job market shrugs off the Fed

It’s been about four years since the great remote work experiment took off for many employees who work computer-bound jobs. After plenty of back and forth between return-to-office mandates and work-from-home advocates, neither side really won. Data from the Bureau of Labor Statistics shows that the share of Americans doing some or all of their work from home has leveled off to about 35%. On the show today, The New York Times’ Emma Goldberg explains who’s working from home these days and how it’s impacting both employees and their bosses. Plus, the commercial real estate question looms large over the remote work debate.

Then, we’ll get into why the Joe Biden administration’s new protections for workers in extreme heat could be threatened by recent Supreme Court rulings and a potential second Trump presidency. And, the CEO of GS1, the company administering retail barcodes, didn’t see the QR code takeover coming.

Here’s everything we talked about today:

• “Work From Home Data Shows Who’s Fully Remote, Hybrid and in Person” from The New York Times
• “Research: How Remote Work Impacts Women at Different Stages of Their Careers” from Harvard Business Review
• “More Americans now prefer hybrid over fully remote work, survey finds” from Axios
• “Remote Workers Are Losing Out on Promotions, New Data Shows” from The Wall Street Journal
• “Dell said return to the office or else—nearly half of workers chose “or else'” from Ars Technica
• “Tesla delivered fewer vehicles to customers for the second quarter in a row” from The Verge
• “Biden to announce heat rules as climate-related deaths rise” from Politico
• “Fact check: Republicans, not Democrats, eliminated the Senate filibuster on Supreme Court nominees” from USA Today

We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

A Supreme Court ruling today gives companies a dramatically wider window to challenge federal regulations with lawsuits. We’ll get into why this is particularly important in light of a separate decision to overturn the Chevron doctrine, and how it could impact other federal regulations like the Federal Trade Commission’s ban on noncompete clauses. Then, we’ll discuss the Supreme Court’s decision on former President Donald Trump’s immunity case and where the heck we go from here. Plus, what you can do to protect the health of our democracy.

Here’s everything we talked about today:

• “Supreme Court rules Trump has some immunity in D.C. election interference case” from NBC News
• “Supreme Court Extends Time Frame for Challenges to Regulations” from The New York Times
• “Biden to extend overtime protections for 1 million workers” from The Hill
• Post on Bluesky from Squire Boone
• “American democracy is cracking. These ideas could help repair it.” from The Washington Post
• “Five Strategies to Support U.S. Democracy” from the Carnegie Endowment for International Peace
• “How to Protect Democracy” from Protect Democracy
• “Opinion | John Lewis: Together, You Can Redeem the Soul of Our Nation” from The New York Times

We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

There were no fireworks for the Democratic Party during last night’s debate between President Joe Biden and former President Donald Trump. While Trump made false claims throughout the night, Biden did little to assuage fears that he’s not up to the job. We’ll get into how the Biden campaign’s fundraising strategy is already shifting and what it might mean for downballot races. Then, we’ll weigh in on Fourth of July travel and drone light shows during a game of Half Full/Half Empty!

Here’s everything we talked about today:

• “Debate takeaways: Trump confident, even when wrong, Biden halting, even with facts on his side” from AP News
• “Biden-Trump presidential debate draws 48 million TV viewers” from Axios
• “Politics and ‘a tale of different economies”’ from Marketplace
• “Why taxpayers keep footing much of the bill for new sports stadiums” from Marketplace
• “Google puts an end to continuous scroll” from Marketplace
• “MTV News Website Goes Dark, Archives Pulled Offline” from Variety
• “Fourth of July travel is set to break records. Here’s how to plan.” from The Washington Post
• “Why drones are replacing fireworks shows” from National Geographic
• “We RICK ROLLED The City of Austin, TX With 600 Drones” on YouTube

We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

The U.S. Supreme Court dealt a huge blow to the Securities and Exchange Commission today when it ruled against its use of in-house judges to enforce securities fraud laws. We’ll get into why the decision will make the SEC’s job harder and what it could mean for other federal agencies. Plus, we’ll bust a common myth about Social Security and explain why homeownership is key factor in how Americans are faring in this economy.

Here’s everything we talked about today:

• “US Supreme Court faults SEC’s use of in-house judges in latest curbs on agency powers” from Reuters
• “The Supreme Court’s chaotic SEC v. Jarkesy decision endangers ‘hundreds of statutes'” from Vox
• “Social Security cuts are inevitable by 2035 unless lawmakers act” from Marketplace
• “How the Inflation Reduction Act could change the future of one Native American reservation” from Marketplace
• “Credit card delinquencies are climbing” from Marketplace
• “Are we living in a K-shaped economy?” from Marketplace

We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

This year’s Supreme Court decision season has been a busy one, and it’s not over yet. We’ll get into the court’s leaked opinion on emergency abortions and two other expected decisions that have the business world watching. Plus, another round of Cybertruck recalls and why it’s fine to keep referring to X as Twitter (per one Supreme Court justice).

Here’s everything we talked about today:

• “Supreme Court Poised to Allow Idaho Emergency Abortions: Exclusive” from Bloomberg
• “Trump’s immunity, Jan. 6, abortion: The Supreme Court’s most controversial decisions are about to drop” from Politico
• “What would Congress do without Chevron deference?” from Roll Call
• “Tesla recalls every Cybertruck again” from Mashable
• “Tesla is recalling the Cybertruck again, this time because a piece can fly off” from CNN
• Tweet from John Shelton about the Supreme Court and the X/Twitter name debacle
• Your donation powers the journalism you rely on. Give today to support “Make Me Smart.”

We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

In the wake of the COVID-19 recession, many economists were describing the United States’ economic recovery as K-shaped. Basically, high-income Americans bounced back quicker than those at the lower end of the income scale. So, did we ever ditch that K shape? The person who coined the phrase “K-shaped recovery” back then, says no. On the show today, Peter Atwater, president of Financial Insyghts and adjunct professor at the College of William & Mary, explains why he believes economic inequality has grown since the pandemic recovery, why considerable wage gains for low-wage workers tell only part of the story and the risks of letting a K-shaped economy run wild.

Then, we’ll get into how the fragility of global shipping supply chains could be playing into Federal Reserve decisions on interest rates. And, happy wedding anniversary, Susanna!

Here’s everything we talked about today:

• “The ‘K’ Is Not OK” from LinkedIn
• “Inflation Is Bringing Back the K-Shaped Economy” from Bloomberg
• “Behind America’s divided economy: Booming luxury travel and a jump in ‘relief’ loans” from CNBC
• “A tight labor market and state minimum wage increases boosted low-end wage growth between 2019 and 2023” from the Economic Policy Institute
• “U.S. Wealth Inequality: Gaps Remain Despite Widespread Wealth Gains” from the St. Louis Federal Reserve
• “First publicly funded religious charter school in US ruled unconstitutional” from The Hill
• “Fed’s Bowman Warns of Upside Risks to Inflation, Not Time to Cut” from Bloomberg
• “Supply Chain Under Strain as Houthis Intensify Red Sea Strikes” from The New York Times
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We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Groups aligned with former President Trump are hunting through information to come up with a list of federal employees who might be resistant to a second Trump administration. We’ll discuss the push to reshape government. Plus, is the urban/rural divide a myth? And, a viral voicemail pep talk from a testing center worker makes us smile.

Here’s everything we talked about today:

• “In This Debate, CNN Is the Decider” from The New York Times
• “Growing rural-urban divide exists only among white Americans” from Cornell Chronicle
• “The Number of People Primarily Working From Home Tripled Between 2019 and 2021” from the U.S. Census Bureau
• “Conservative-backed group is creating a list of federal workers it suspects could resist Trump plans” from AP News
• “A 3-year-old voicemail goes viral, leads to emotional reunion” from The Washington Post
• “Why Men Are ‘Rawdogging’ Flights” from GQ

We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Four years after the Internal Revenue Service created a tax credit to help struggling businesses get through the pandemic, the agency ultimately plans to reject the majority of claims filed under the program. We’ll explain how it became swamped with fraud. And, Major League Baseball legend Reggie Jackson opened up about the racism he and other Black players faced in the ’60s. We’ll get into it. And, we’ll play a round of Half Full / Half Empty!

Here’s everything we talked about today:

• “IRS says it will deny most claims of pandemic tax credit for employers” from The Washington Post
• “With pardons in Maryland, 2.5 million Americans will have marijuana convictions cleared or forgiven” from The Associated Press
• MLB Hall of Famer Reggie Jackson remembers Willie Mays from Gary Parrish on X
• “It’s Time to Stop Inviting Plus-Ones to Weddings” from The Atlantic
• “First Came ‘Spam.’ Now, With A.I., We’ve Got ‘Slop’” from The New York Times
• “Netflix House Will Let You Experience Your Favorite Shows, Movies in Real Life” from Netflix Tudum
• “What’s to become of summer Fridays in the age of hybrid work?” from CNN
• “Surgeon General: Why I’m Calling for a Warning Label on Social Media Platforms” from The New York Times

We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

This week, senators grilled Boeing CEO Dave Calhoun about the aviation company’s safety culture and its retaliation against whistleblowers. But these problems are just the tip of the iceberg for Boeing. We’ll explain. Plus, why President Joe Biden’s new immigration plan is a big deal. And, who knew there were this many cricket fans in the U.S.?

Here’s everything we talked about today:

• “Boeing CEO Dave Calhoun testifies before Senate committee on safety issues” from CNBC
• “‘Why haven’t you resigned?’ Senators torch Boeing CEO as he apologizes for deadly failures” from Politico
• “Boeing CEO Dave Calhoun Apologizes for Quality and Safety Issues at Senate Hearing” from The New York Times
• “Boeing’s CEO Search Hits Some Snags” from The Wall Street Journal
• “President Biden Announces Plan for Undocumented Spouses on DACA Anniversary” from C-SPAN
• “Biden immigration program offers legal status to 500,000 spouses of U.S. citizens. Here’s how it works.” from CBS News
• “The economy is roaring. Immigration is a key reason.” from The Washington Post
• “Supreme Court rejects challenge to tax on foreign corporate investments” from CNBC
• “The Supreme Court upholds a tax on foreign income over a challenge backed by business interests” from The Associated Press
• “The Supreme Court leaves a Trump-era offshore tax in place on investors” from NPR
• “Supreme Court Upholds Trump-Era Tax Provision” from The New York Times
• “ Rising Popularity of Cricket in US” from Bloomberg
• “Uber Drivers, Techies Score Wins for Team USA at ICC T20 World Cup 2024” from Bloomberg 
• “T20 World Cup: The USA cricket team is capturing hearts and minds with historic run” from CNN

Join us tomorrow for Economics on Tap! The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern. We’ll have news, drinks and play a round of Half Full/Half Empty!

In honor of Juneteenth, we’re bringing you an episode of a new podcast from APM Studios that’s especially relevant on this holiday. In the podcast, “What Happened in Alabama?” host Lee Hawkins unpacks his family history, confronts cycles of trauma and grapples with an issue many Black families face: how to keep land in the family.

This episode is about Black land loss. In 1910, Black farmers collectively owned over 16 million acres of farmland. A century later, over 90% of that land is no longer owned by Black farmers. Lee explores that tumultuous history and what Black families can do to hold on to their property.

If you’d like to hear more episodes from the series, you can find “What Happened in Alabama?” wherever you get podcasts.

David Collum, an old friend of this podcast, is the Betty R. Miller Professor of Chemistry at Cornell University... but he may be better known these days as a wicked funny commentator on the financial scene. He writes an annual end-of-year wrap-up and forecast, which I interrupted him working on when I hauled him over to Skype to yak about the current situation. There’s some weird Skype background noise a couple of places in the recording -- like the Exorcist working over a couple of demons-from-hell in an elevator shaft. It doesn’t last more than a minute or two, so hang in there. There are apparently strange forces in the Skype-o-verse.

Allo, M. José Bovin ?

Non, vous vous trompez monsieur, c’est José Bové, son cousin germain…

Pardonnez la confusion, c’est justement à vous que je cherche à parler…

Ouais….

Voilà, (silence embarrassé) je suis Aziz Akhannouch, ministre de l’Agriculture, de la pêche et d’autres choses, et surtout futur chef de gouvernement du Maroc…

Ouais, que me voulez-vous ?

Que du bien, rassurez-vous, j’aimerais vous remettre un petit quelque chose, enfin vous voyez, un petit cadeau…

José Bové, allègue-il, feint d’accepter et donne une adresse où le ministre marocain pourrait le retrouver : ‘’ 36, Quai des Comptes et des Marquis, restaurant Adormirdebout.

Le ministre qui ne craint personne sinon Dieu, se rend himself à l’adresse indiquée, lunettes noires de Rapetou, son enveloppe pleine d’euros bien dissimulée sous son manteau, mais ne trouve rien. Il rappelle José.

Allo José, il n’y a rien ni personne à l’adresse que tu m’as indiquée (ils en sont au tutoiement)…

Si, tu y trouveras mon avocat…

Même dans une pièce de théâtre pour petites gens prêts à rire de tout et de rien, la scène ferait navet. Mais croyez-le ou pas, c’est ce que l’on peut ressortir de cette mauvaise pièce de théâtre à mi-chemin du vaudeville et de la Commedia italienne dell’arte, jouée téléphoniquement par le cher José Bové sur une station de radio française, avec quelques rajouts pour le burlesque de la situation que le personnage ne renierait pas. 

’’Sa main dans la main de son frère’’

José Bové est un syndicaliste agriculteur, passé de mode, que sa moustache, sa pipe et son cassage au sens propre de Mc Do ont rendu célèbre. Personnalité hurluberlu, mythomane sur les bords, que ni sa faconde paysanne ni ses titres de gloire ne lui ont suffi pour avoir la liberté dans la foulée de parler des eurodéputés véreux qui peuplent les instances de l’UE à Strasbourg et à Bruxelles. A peine avait-il commencé qu’il est interrompu par le présentateur qui lui coupe la ligne, seulement intéressé par le Maroc via son actuel chef du gouvernement.  

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Rich shares some GOOD NEWS on the topic of the economy - things might not be as bad as you think!