labor_shortage

Joe Biden and Xi Jinping will hold a high-profile summit in San Francisco today, US inflation fell more than expected to 3.2 per cent in October, and the war in Ukraine is doing serious damage to Russia’s labour market. 

Mentioned in this podcast:

Biden and Xi meet in bid to stabilise relations between superpowers

US stocks and bonds jump after inflation falls to 3.2%

Russia’s war economy leaves businesses starved of labour

AI outperforms conventional weather forecasting methods for first time

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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Why is the economic recovery from the pandemic so uneven? Why are companies finding it hard to hire? And why are the prices of used cars surging?

Recent economic reports have commentators scratching their heads. We dig into the theories behind this strange moment for the American economy. 

Guest: Ben Casselman, an economics and business reporter for The New York Times. 

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Background reading: 

• April’s anemic job creation was so out of line with what other indicators have suggested that it will take some time to unravel the mystery.
• The weak jobs report could help the Federal Reserve justify its patient approach to its policies. Officials have said that they want to see real, not just forecast, progress toward full employment and stable inflation.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.