Who's getting those tariff refunds?

May 8, 2026

AI Summary

5 min read

This Friday Marketplace episode covers a mix of economic updates, including a solid April jobs report amid ongoing inflation pressures, court setbacks for Trump tariffs and ensuing refund questions, stock market records driven by tech, and early fallout from Spirit Airlines' shutdown.

April Jobs Report Signals Stabilization

The Labor Department reported 115,000 jobs added in April, double economist expectations, with unemployment holding at 4.3%. Hiring broadened beyond healthcare, showing gains in transportation and warehousing, retail, hospitality, construction, and social assistance. However, tech and finance lagged, part-time work rose notably, and 3.6% annual wage growth trailed inflation, especially with surging gas prices.

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What you'll learn

1 (01:17) **Jobs Report Overview** - Hosts intro April jobs data: 115k added, unemployment steady at 4.3%
2 (02:56) **Wage Growth and Inflation Pressures** - Wages up 3.6% yearly but eroded by inflation and gas prices
3 (04:47) **Fed Policy Implications** - Steady jobs ease stagflation fears for incoming Fed chair Kevin Warsh
4 (05:59) **AI Economy Dominance** - Greg Ip argues AI hype props up GDP/stock metrics; bust wouldn't hurt average wages much
5 (07:29) **Six-Month Economic Outlook** - Heather predicts belt-tightening as savings dwindle; Greg optimistic but wary of oil/Iran tensions
6 (09:20) **Stock Market Records** - Dow flat, Nasdaq/S&P hit new highs driven by tech/AI
7 (10:06) **Tech Layoffs Persist** - Info sector jobs down 11% from 2022 peak despite stock surge; AI cited but tied to pandemic overhire

+ Full timestamped outline available in the app

Show Notes

U.S. Customs and Border Protection has begun processing applications for tariff refunds after the Supreme Court ruled against swaths of President Trump’s import taxes. But limitations on who can file have left some business owners out of luck, and those who are eligible must weigh how much of the refund they should pass down the line. Also on the program: the jobs report, tech layoffs, and what the Spirit Airlines shutdown could mean for a Florida airport. Plus: a look into Sparrow’s Nest Studio, Manhattan’s “home for mahjong.”

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