Marketplace Morning Report

The Bureau of Labor Statistics released its May jobs report earlier this morning. The economy created 172,000 jobs last month. The unemployment rate stayed at 4.3%, and the April number was revised up by 64,000 jobs. Who's doing all this hiring? Also on the program, global food prices stabilized last month, but we're not out of the woods yet. And we'll check in on the momentum of the $100 billion wedding industry.

SpaceX is expected to go public next week in what could be the biggest initial public offering ever. Anthropic has also filed for an IPO, likely later this year; OpenAI is moving in that direction, too. With all the hype around these companies, should retail investors — or regular people, for that matter — get in on these IPOs? We do the numbers so you don't have to. Plus, migrant workers in Italy are organizing for better conditions, and Anthropic wants coordinated plans for slowing AI development.

SpaceX is set to go public next Friday. If all goes according to plan, the company is seeking a valuation of nearly $2 trillion. That would be the biggest initial public offering on record, and it would make CEO Elon Musk the world's first trillionaire. We'll learn more. Then, as part of Marketplace's "What's That Like?" series, we head to Zigong, China, to learn what it takes to be a master lantern artisan.

The jobs report comes out tomorrow. One of the stats in the report that's been rising is the number of people working “part-time for economic reasons.” That’s BLS-speak for workers who would like to be full-time but have had their hours cut or haven’t been able to find full-time jobs. Today, we'll hear from some of those workers and what it means for the overall job market. Also: construction jobs in the Mountain West and red warning signs in the Fed's Beige Book.

The Federal Reserve has long relied on the PCE as its preferred measure of inflation. But there's another inflation yardstick known as the trimmed mean, which tries to smooth out big inflation bumps. Last week, the Dallas Fed's trimmed mean came in at 2.3% — lower than the PCE and much closer to the Fed's 2% target. What accounts for the difference, and why does it matter? Then, we hear how 48 "base camp" venues are preparing to host World Cup athletes.