Marketplace Morning Report A mountain kingdom sounds the alarm on jobs
Jul 10, 2025
Lesotho grapples with a national disaster, declaring a state of emergency due to skyrocketing youth unemployment. As the government reallocates funds to support small businesses, it faces looming threats from U.S. tariffs and aid cuts. The discussion shifts to global trade tensions and market movements. Amid a major power outage in Spain and Portugal, the contrast between cash reliance and digital payments emerges, sparking debates about financial safety nets in an increasingly cashless world.
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Lesotho Faces Youth Unemployment Crisis
- Lesotho declared a national state of disaster due to soaring youth unemployment and job losses.
- The government aims to use emergency powers to quickly redirect funding and support youth employment.
Cash's Role in Payment Resilience
- Cash remains a vital fallback during power outages and cyberattacks, despite growing digital payment reliance.
- Countries like Spain, Norway, and Sweden are passing laws to ensure cash availability for emergencies.
Norwegian Coffee Shop's Cash Experience
- Karl Johanesson, a coffee roastery owner in Norway, describes challenges of handling cash post-Covid.
- Cash now makes up about 3-5% of sales, and his staff count and deposit money monthly.
