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?

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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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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.

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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.

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

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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.

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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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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.

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.

The new movie Conclave is a fun and twisty political thriller. Ralph Fiennes plays a cardinal tasked to managing the secretive process in which the pope is replaced. The film offers plenty of scandals, surprises, and dark horses, along with some strong commentary on the state of the Catholic church. Directed by Edward Berger (All Quiet on the Western Front), the film also stars Stanley Tucci, John Lithgow, and Isabella Rossellini.

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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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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

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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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Social Insecurity

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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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Pay Cuts Vs. Layoffs

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Nippon Steel says it wants to keep jobs in America as it looks to buy out US Steel. And economists say: that makes sense. But U.S. presidential candidates are pushing back. Today, we'll look at the role politics plays in distorting economics and find out whether that's what's happening in Pennsylvania and some other battleground states.

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The tensions behind the sale of U.S. Steel (Apple / Spotify)
How much do presidents ACTUALLY influence the economy (Apple / Spotify)

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

The Department of Justice thinks Apple has violated an antitrust law, pointing to its ecosystem of apps and products. Apple, for its part, thinks the DOJ is wrong on both the facts and the law. Today on the show, why the DOJ brought this lawsuit against one of the largest companies in the world and why it matters for all you smartphone owners out there.

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How Fortnite brought Google to its knees (Apple / Spotify)
Can an old law bring down grocery prices? (Apple / Spotify)

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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.

Related episodes:
Vacation, and why the U.S. takes so little of it (Apple / Spotify)
The 28-Hour Work Week

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

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

The childcare industry has been having a tough go of it. It's already expensive; pandemic-era programs have ended; plus there are too few providers. Enter a new challenge: increasing liability insurance premiums. Today, we look at why these premiums are rising for childcare providers, and how they're impacting both businesses and consumers.

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When Uncle Sam stops paying the childcare bill (Apple / Spotify)

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