Since his return to office, President Trump has waged something of a pressure campaign on economic data and the people in charge of delivering it. His firing of the Bureau of Labor Statistics commissioner following a weak jobs report now has some wondering: can we still trust the official numbers? Today on the show, we're resharing our conversation with former BLS commissioner, Erica Groshen on her current fears for the integrity of government data. The original version of this story aired March 7, 2025.

Related:
What really goes on at the Bureau of Labor Statistics? (Update) (Apple / Spotify)
Would you trust an economist with your economy? (Apple / Spotify)

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Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

On Friday, we reported on the latest jobs numbers from the Bureau of Labor Statistics, which showed weaker than expected growth. On Friday afternoon, President Trump fired the person in charge of those numbers.

The monthly jobs report is a critical tool for the economy, used by businesses to make decisions and the Federal Reserve to set rates. So how exactly are those figures collected? Today, we're re-airing our behind-the-scenes look at how the BLS puts together the jobs report ... one call at a time.

This show originally aired June 6, 2022.

Related:
Can we trust the monthly jobs report?
Would you trust an economist with your economy?

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Fact-checking by Sierra Juarez and Corey Bridges. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

The quintessential American economic myth is that the free market picks winners and losers. But the federal government has long had a role in this equation, from the current administration all the way back to the Great Depression. Today on the show, we uncover the history of the country's national investment bank, which shaped the relationship between the government and the market in ways that are still felt today.

Check out Chris Hughes Substack

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Giant vacuums and other government climate bets (Apple / Spotify)

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Fact-checking by Julia Ritchey. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Many small businesses are online now, but so are cyber criminals trying to take advantage. On today's show, how one bar owner fell victim to a Facebook scam and if big tech could do more to protect small business owners from increasing cyber attacks. Read Stephan's original piece.

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The secret world of those scammy text messages
After being scammed, one woman tries to get her money back

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Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

The One Big Beautiful Bill Act is now law. It's expected to cost the government a pretty penny. The Congressional Budget Office predicts a $3.4 trillion increase in the deficit over ten years. This is driven by significant tax cuts, including extensions of those made in 2017.

Trump's advisors argue the tax cuts will pay for themselves. Today on the show, we speak with the guru on that school of thought, Arthur Laffer, and dig into some of those claims with a tax economist.

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So, how's this No Tax On Tips thing gonna go? (Apple / Spotify)

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Fact-checking by Corey Bridges. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

The U.S. government has tallied the economic impact of major natural disasters going back to 1980. State and local governments used this data for budgeting and planning. But last month, the administration retired its Billion-Dollar Weather and Climate Disasters disaster database. Today on the show, we speak to Adam Smith, the architect of the program, on the work he did and what might be next.

Related episodes:
How much is a weather forecast worth? (Update) (Apple / Spotify)
How ski resorts are (economically) adjusting to climate change (Apple / Spotify)

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Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

President Trump's federal cuts and scrutiny of academic institutions are forcing some U.S. scientists to head for the border. On today's show, an entomologist keeping America's farms safe from pests reconsiders America. And a CEO of a Canadian hospital explains how they are benefiting from the exodus.

Related episodes:
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What happens when billions of dollars in research funding goes away (Apple / Spotify)
A 'Fork in the Road' for federal employees (Apple / Spotify)

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Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Many international students are rethinking their education in the United States as the federal government revokes visas, often over minor infractions. A shift away could carry a heavy economic toll, as international students contributed $44 billion to the U.S. economy last school year. So what happens when a generation of bright-eyed scholars decide to forgo school in the U.S. and take their dollars elsewhere?

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Do immigrants really take jobs and lower wages? (Apple / Spotify)
The long view of economics and immigration (Two Indicators) (Apple / Spotify)

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Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

With the LA wildfires still burning, we were left with a lot of questions. Today, we answer two of them: whether GoFundMe campaigns could interfere with receiving federal assistance and how much of those "proceeds" from special product sales actually go to wildfire victims.

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Why is insurance so expensive right now? And more listener questions (Apple / Spotify)

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Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Donald Trump's victory in this year's election had a lot to do with how many Americans feel about the US economy (surprise: not good). But Simon Rabinovitch, US Economics Editor for The Economist, argues that, despite the turmoil of the past few years, America's economy remains the envy of the world. Today on the show, Simon explains why that is, but also why he believes a Trump presidency puts America's 'economic exceptionalism' at risk.

The envy of the World - The Economist

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Immigration is a top concern among U.S. voters this election cycle. But Zeke Hernandez, a professor at the University of Pennsylvania who studies immigration,thinks politicians and the media aren't giving the public the full story. Too often, he argues, they paint immigrants as objects of pity or fear, when the reality is much more complex — and positive. Today on the show, we look beyond the binary and explore the less talked about ways documented and undocumented immigrants shape the U.S. economy.

Zeke's book is called The Truth About Immigration: Why Successful Societies Welcome Newcomers.

Related listening:
Is the border crisis really a labor market crisis? (Apple / Spotify)
Do immigrants really take jobs and lower wages? (Apple / Spotify)
Welcome to the USA! Now get to work (Apple / Spotify)

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Penny for your thoughts? Today we open our mail bag to hear from Indicator listeners. A college graduate tells us about their job search, a researcher discusses why products advertised as 'simple' may not be so straightforward, and another listener thinks the debate over Fed independence is a little more nuanced than we let on.

Heard something on the show you liked (or didn't)? Have an insight to share about the economy? Send us an email: indicator@npr.org!

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If the world had no accountants (Apple / Spotify)
The case for inflation

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Peak 65 is here. More than 4 million Americans will turn 65 between 2024 and 2027, representing the largest retirement surge in history. Years ago, older Americans could count on Social Security. But today there is some uncertainty on the program's solvency in the next decade plus. Now, many are entering their golden years with financial insecurity. Today on the show, how did Social Security become a thing? And what could the safety net for the Peak 65 generation and beyond look like?

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Social Insecurity

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Rupert Murdoch took an Australia paper in Adelaide and turned it into one of the most influential media empires in the world. The question of who will run it after he's gone though is the subject of speculation both in reality and on the HBO fictional series "Succession." Now, a small probate court in Nevada will weigh in on that very question.

Today, how did the drama come to be? And what will the decision mean for the future of Fox, one of the most influential networks, on the planet and our political discourse?

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The co-hosts return with answers to YOUR questions. In this episode of listener questions, we dive into why storefronts don't just fill up, how Tiny Desk found its secret sauce, and whether there's an ideal level of staff turnover.

Tiny Desk Donation Page

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There is expected to be a lot of demand for manufacturing jobs in the coming decade, but many of those positions will be left unfilled. So Darnell Epps set out to close that gap by connecting employers with workers and showing potential workers what's appealing about these jobs. Today, we dig into Darnell Epps journey through both law school and trade school.

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Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Unlimited paid time off may sound like a nice perk, but it's not always what it appears. Employers aren't typically obligated to pay out unused vacation balances when a worker leaves, and it can be hard for workers to understand just how much time they can actually take off.

And yet ... endless leave?? It doesn't sound so bad.

Today on the show, is unlimited paid time off really a benefit? We try to figure out whether it works.

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Some bank customers are jumping to high-yield savings accounts to escape the shockingly low interest rates of personal savings accounts at big banks. So why aren't these banks raising their rates to attract more customers? Today on the show, we explore why big banks may not care about your savings account anymore.

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Interest rates up, but not on your savings account (Apple / Spotify)
Bad Form, Wells Fargo

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For years, rich nations have sent money to lower-income countries to help deal with the impacts of climate change. But it turns out, these wealthy nations are finding creative ways to funnel some of that financing back into their own economies. Today, we look at how the climate crisis is reviving a debate over how money should flow from rich to less-rich nations.

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There are many anecdotal complaints about Google search not being what it used to be. A German computer scientist and his colleagues put this theory to the test recently focusing on product reviews. Today on the show, we bring their findings to Google's chief search scientist.

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Microsoft vs. Google: Whose AI Is better? (Apple / Spotify)

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Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.