AI Summary
5 min read“It isn’t a life-changing number, but it is a steady number.” That is how Nick Tremper, senior economist at payroll processor Gusto, described small business hiring in May—and it captures the cautious optimism threading through this episode of Marketplace. The May jobs report is due Friday, but the private-sector previews are already in, and they suggest the “low hire, low fire” labor market may finally be loosening up for smaller firms. Alongside that, the episode covers Macy’s surprising turnaround, a push to get more companies—including crypto firms—into banking, fresh tariff confusion, a novel AI prescription experiment in Utah, and the ongoing vulnerability of U.S. bridges to ship collisions.
Small business hiring picks up, cautiously
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What you'll learn
- 1 (01:49) **Small Business Hiring Picks Up** - ADP, Gusto, and Paychex report the best small business hiring outlooks of the year, with wage and hour increases in May.
- 2 (04:24) **Wall Street Rally Ends** - Equities fall, with details to come in the numbers segment.
- 3 (04:48) **Macy's Turns Around** - Sales are up for a fourth straight quarter as the retailer closes 150 stores and refocuses on best-selling items like dresses over furniture.
- 4 (07:35) **New Push for Banking Charters** - The number of new bank charters has fallen to its lowest level since the 1960s, but the White House wants more companies (including fintechs and crypto firms) to apply.
- 5 (12:37) **New Tariffs on 60 Economies** - U.S. Trade Representative Jameson Greer announced new taxes on imports from 60 economies, including Mexico and Canada; a public comment period follows.
- 6 (16:25) **Market Numbers** - Dow down 620 points (1.2%), NASDAQ down 239 (1.0%), S&P 500 down 56 (1.01%). Macy's up 0.6%, Ollie's Bargain Outlet up 0.6%. Banks: Wells Fargo down 1%, Bank of America down 0.2%, JPMorgan flat.
- 7 (20:15) **AI to Renew Prescriptions in Utah** - State regulators have approved a year-long pilot allowing Doctronic's AI to renew prescriptions for low-risk medications like cholesterol, diabetes, and birth control drugs.
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Guests on this episode
Show Notes
For a while now, we’ve talked to small business owners who say they want to hire more employees, but aren’t in a financial position to do it, can’t find qualified applicants, or are too concerned about the economy to make the jump. But two new reports show small business hiring picked up this spring. In this episode, whether that’s a blip or the start of a positive trend. Plus: An AI prescription renewal tool is launched in Utah, Macy’s tries to turn things around, and we visit a river in the Pacific Northwest with two aging bridges at risk of collapse.
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