The government reported today that 147,000 more people were on payrolls in June compared to May — a stronger outcome than initially forecasted. This data comes despite all the tariff-related uncertainty that many business execs have been speaking about lately. We’ll discuss. Plus, AI scraping could fundamentally break the business model of the internet, and an oasis of merch and pop-up stores is appearing ahead of the Oasis reunion tour kick-off.
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No tax on Social Security? Not quite.
The House of Representatives could vote as soon as today on President Donald Trump’s big tax and spending bill. Trump says the legislation gets rid of taxes on Social Security benefits, but it’s not quite that simple. We'll unpack. Then, we’ll discuss this morning’s surprisingly weak private payroll data. And, we'll travel to London ahead of the city's Pride festival, which has been hit by declining corporate sponsorship.
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Employers and workers wait and see
An ADP report providing a reading on the strength of the job market comes out today. Meanwhile, another measure shows the labor market treading water: job churn. Do we have the confidence to leave and take a different job? Amid continued economic uncertainty, many workers seem to be staying put, and employers seem hesitant to let workers go. Also on the show: the financial burden of deployment for military families.
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A fresh deal on the future of critical minerals
From the BBC World Service: Australia, India, Japan, and the U.S. have launched a new push to secure supplies of critical minerals, especially the "rare earths" used in many tech products. Pride events in both the U.S. and the United Kingdom have been hit by falling corporate sponsorship. What effect will this have on events? Plus, the Australian airline Qantas says it's investigating a data breach, although it insists flights won’t be impacted.
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The costs of aging in place
Surveys consistently show people want to age in their current home. Yet homeownership is costly for older adults of modest means, especially those still paying off their mortgage and living on fixed incomes. That hardship can be exacerbated, too, by additional medical or disability needs. We'll hear more as part of our Buy Now Pay Later project, produced in partnership with Next Avenue, a nonprofit news platform for older adults produced by Twin Cities PBS. But first: The Senate is coming off an all-nighter, and stocks rebounded remarkably this past quarter.
In less than 10 minutes, we'll get you up to speed on all the news you missed overnight. Throughout the morning, Marketplace's David Brancaccio will bring you the latest business and economic stories you need to know to start your day. And before U.S. markets open, you'll get a global markets update from the BBC World Service in London.
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