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.

Baby bond fever is catching on. In recent years, states like Connecticut have been experimenting with giving newborns government-seeded accounts that grow tax-free until they are 18. Now, President Trump's signature tax and spending bill will give a thousand dollars to every U.S.-born baby through 2028. On today's show, what are baby bonds and could they help tackle wealth inequality?

Related:
Baby bonds, proportional representation, and no left turns
Could cash payments ease recessions?
Building generational wealth in rural America

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Fact-checking by Cooper Katz McKim. 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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The day Russia adopted the free market (Apple / Spotify)
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.

Once upon a time, the states had a thriving tinned fish market. Like a lot of U.S. manufacturing though, that's been lost. But sardines are having a moment right now and that may help a growing effort to resurrect this lost industry.

Related episodes:
Why do shrimpers like tariffs (Apple / Spotify)
When a staple becomes a luxury (Apple / Spotify)
We're gonna need a bigger boat-building industry (Apple / Spotify)

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Fact-checking by Sierra Juarez. 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.

Related:
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.

We are just at the start of hurricane season, and we're already seeing the danger and tragedy brought on by storms. There's another cost that gets much less attention, but it's a gamble everyone in the path of a storm has to make.

Today on the show, we examine the decision on whether or not to evacuate from an oncoming disaster.

Based on the digital story: 1 reason people don't evacuate for hurricanes? Rising costs, and they're getting pricier

Related episodes:
Hazard maps: The curse of knowledge
Unintended Consequences, Hidden Deaths
The brewing recovery in Western North Carolina

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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.

Related episodes:
The simple math of the big bill (Apple / Spotify)
What's going to happen to the Trump tax cuts? (Apple / Spotify)
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.

In the U.S., we insure most everything we sell. So why not trees? Today on the show why trees aren't insured like other crops, and what it would take to get that insurance with extreme weather events on the rise.

Related episodes:
When insurers can't get insurance (Apple / Spotify)

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Fact-checking by Tyler Jones. 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 Donald Trump wants more products made in America, and he's not afraid of a few trade wars to make it happen. Back in the 80s, a different trade dispute brought new manufacturing to the U.S. Today on the show, how former President Ronald Reagan used the threat of trade protectionism to bring car-making stateside, and why the same strategy might not work today.

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The tensions behind the sale of U.S. Steel (Apple / Spotify)
Tariffs: What are they good for? (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.

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How much international students matter to the economy (Apple / Spotify)
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.

Related episodes:
After the fires (Apple / Spotify)
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.

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

TikTok could begin shutting down in the U.S. as soon as January 19 of next year. But the app is not going down without a fight. The company is asking a panel of federal judges to block the law in a high-profile case that pits free speech versus national security. Today on the show, how TikTok got to this point and what we can expect from the app's last ditch effort to stay alive in the U.S.

Related episodes:
Tick tock for TikTok? (Apple / Spotify)
Is Project Texas enough to save TikTok? (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!

Related episodes:
Should presidents have more say in interest rates? (Apple / Spotify)
We grade Fed Chair Jerome Powell (Apple / Spotify)
Trade wars and talent shortages (Apple / Spotify)
If the world had no accountants (Apple / Spotify)
The case for inflation

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

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

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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What would it take to fix retirement? (Apple / Spotify)
Social Insecurity

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

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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Dollar v. world / Taylor Swift v. FTX / Fox v. Dominion (Apple / Spotify)

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

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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Anatomy of a Layoff (Apple / Spotify)
Pay Cuts Vs. Layoffs

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