The Indicator from Planet Money Tech layoffs, recession pop and more listener questions answered
31 snips
Jul 2, 2025 Listeners dive into the intriguing concept of 'recession pop,' where upbeat music emerges during tough economic times. They explore why the tech job market feels bleak for recent grads amid AI advancements and high interest rates. The discussion also tackles tariffs and the historical context of price controls, revealing their rare application today. Plus, there's a nostalgic look at past recession hits, showing how cheerful tunes provide a much-needed escape from financial woes.
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Price Control Definition and Context
- Price controls occur when government dictates price floors or ceilings in markets.
- President Trump's urging Walmart to eat tariffs is not a formal price control but is a social and political pressure.
Tech Job Market Challenges
- The tech job market, especially post-pandemic, has slowed significantly with fewer jobs and internships.
- High interest rates and AI adoption are also factors dampening tech sector hiring and recovery.
AI's Impact on Tech Employment
- AI adoption in companies may replace workers, slowing tech employment recovery.
- This likely contributes to the challenging job market for tech new grads and interns.