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It’s Friday! The economy added more jobs than expected in April, but not so much for the tech industry. We’ll look into it below. Plus, gas prices are getting consumers down, and employers are cutting parental leave benefits, even though most parents don’t use all that they’re entitled to. And GDP isn’t the only, or best way to measure the economy . My colleagues Kai Ryssdal and Andie Corban break down “final sales.”

But first: Marketplace believes understanding the economy shouldn’t have a price. Your support keeps our reporting independent, trustworthy, and accessible to everyone, no matter their background. Our spring fundraiser is going on right now, and we’re only 18 new members away from unlocking an additional $25,000 gift. Our deadline is midnight, so don’t wait! Donate today, and thanks.

— Carrie Barber, newsletter editor

An aerial view of people shopping in a clothing store.

Spencer Platt/Getty Images

Why this number might be more important than GDP

Let’s break down why final sales to private domestic purchasers — a mouthful, yes — is a better read on where the economy is headed.

Last week, we got the first estimate of gross domestic product for the first quarter of 2026: a flat 2%. But buried in that report was a stronger number, 2.5%, called final sales to private domestic purchasers.

“I know it sounds like the most technical, confusing thing,” said Carrie Freestone, senior U.S. economist at RBC. “But when you realize it’s essentially just business investment, housing, and consumption, it’s actually much easier to think about it.”

Essentially, final sales are a measure of American demand — how much consumers and businesses are buying. To get there, we have to strip out three big components of overall GDP.

News you should know

Let’s do the numbers

A positive jobs report lifted Wall Street to new heights today. S&P 500 climbed 0.8% and the Nasdaq rallied 1.7%, both to new all-time highs. The Dow inched up by less than 0.1%.
The economy added 115,000 jobs in April, more than expected, mostly in the healthcare, transportation and warehousing industries. The unemployment rate held at 4.3%.
Tech jobs, though, have fallen 11% from a 2022 peak, even as the industry is driving stock market records. Coinbase and Cloudflare are the latest to announce cuts. Are they rightsizing after pandemic expansion or has AI made them more efficient?
A barrel of Brent crude oil rose 1.2% to $101.29 after the U.S. and Iran exchanged fire again in the Strait of Hormuz. A gallon of regular gas averaged $4.53, down about a penny from yesterday.
High gas prices drove down consumer sentiment by 3.2% in April to a new low, according to the University of Michigan’s survey released today. Sentiment fell 7.7% from a year ago.

Workplace

The WNBA season tips off today, the first under a landmark collective bargaining agreement that raises player salaries and gives them a 20% share in league revenues. That’s huge, but it’s not just about pay. The deal also raises the standard of living for women playing pro basketball.
Employers are cutting parental leave benefits as healthcare costs soar. At Zoom, pregnant people now get 18 weeks of paid leave, down from about 24 weeks. Leave for parents who did not give birth dropped to 10 weeks from 16 weeks.
How much leave do parents actually take? Not as much as they are entitled to, the Federal Reserve Bank of Minneapolis found.

World Cup

Hotel bookings in the 11 U.S. cities hosting World Cup games are falling short of expectations, the American Hotel & Lodging Association reported this week. We talked to a hotel manager in Kansas City, Missouri, where bookings were trailing by up to 90%.
FIFA tripled the price for the best remaining World Cup final tickets yesterday. A seat at the July 19 match in East Rutherford, New Jersey, will run you $32,970.

QUOTE OF THE DAY

“It’s clear I owe the money back to the customer. And by the way, I need to tell you, my customers believe it's very clear to them as well.”

— Peter Furth, CEO of FFF Associates, a specialty foods importer

To share or not to share? That is the question importers are asking themselves as they apply for $166 billion in refunds after the Supreme Court struck down a big chunk of the Trump administration’s tariffs.

Furth’s company knows how much it owes customers because it always broke out the charges separately. But it’s not so clear for other businesses, much less if consumers will get a slice of any refund. And nobody knows when those refunds are coming.

HEAR MORE

Economic reporting shouldn't be out of reach. Your gift ensures everyone can make sense of the economy.

Kimberly Adams, a black woman with long curly hair, faces the camera and smiles. Behind her are treetops and cty buildings.

Robb Hill/Marketplace

Final note

Meet the new host of “Marketplace Morning Report”

We are excited to announce Kimberly Adams is the new host of our weekday morning show. Kimberly is currently Marketplace’s senior Washington correspondent and host of “Make Me Smart.” On the lsatest episode of that podcast, Kimberly and outgoing “Morning Report” host David Brancaccio talked about what’s next for both of them. Tune in bright and early June 8 to hear Kimberly do the numbers!

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