Below is a copy of the latest Daily Wrap email from Marketplace.
Sign up for the Marketplace Daily Wrap to receive updates directly in your inbox each weekday evening.
Plus: Trump is cashing in on the presidency. 
We hope you enjoy today's briefing from Marketplace. Subscribe to more Marketplace newsletters here.
Doesn’t today feel like a Thursday? Many people, including Wall Street traders, have Friday off in observance of Independence Day.

I don’t know about you, but a short week often means I pack five days of work into four. That’s true for the Bureau of Labor Statistics, which is set to release the June jobs report tomorrow morning. Economists predict 100,000 jobs added, and today payroll processor ADP said private employers added a hair under that.

While we wait for the government data, let’s look at the state of the summer job market for teens — and how it could impact the workforce of the future.  — Tony Wagner, newsletter editor
A young woman works in a cafe.
Miguel Pereira/Getty Images
What happened to the teenage summer job?
In the 1980s, about two in every three U.S. teenagers had paying jobs. Now, it's about one in three. We put Marketplace’s Mitchell Hartman on the case.
This is a pretty tough summer for young job-seekers.

Outplacement firm Challenger Gray & Christmas predicts this will be the worst summer for teen hiring in the nearly 80 years that BLS has been gathering the data.

The unemployment rate among 16-to-19-year-olds has been ticking up steadily in recent years— from 10.3% in May 2023, to 14.7% in May 2026.

Meanwhile, there’s been another change with teen participation in the labor market over many decades — fewer of them have been working or looking for work.

In the 1980s, about two out of three teenagers had paid work in the summer, according to BLS’s data on labor force participation, which is not seasonally adjusted. In recent years, that’s down to around one in three.

The long-running decline in teen employment has consequences for young people, their parents, and U.S. employers.

I met Nick Burka at Coney Island Beach on a windy Saturday in early summer. He’s 31, and said that growing up on New York’s Upper East Side he had one job.

“I babysat my upstairs neighbor — just once,” he said. “It was kind of a disaster. This kid was really intense and a little scary. I didn’t get paid and I just never went back.”

In fact, like many in recent generations, Burka never got a paying job as a teen. He didn’t feel like he had to.

“I had an allowance,” he said. “My parents gave me money.”

In college at Vassar, he worked as a computer-science tutor and research assistant. Today he runs a small tech nonprofit that works on disability benefit access.

But he feels like he missed something growing up.

“I think all the people I know who worked seem more responsible than me,” Burka said.

So what’s driven the decline in work among teens?
READ MORE


 
News you should know
Let’s do the numbers
  • Most stocks rose today but tech’s losses weighed on major indexes. The S&P 500 closed down 0.2%, the Dow lost less than 0.1% and the Nasdaq fell 0.7%.

  • The cost of a barrel of Brent crude fell to $71.57, and the national average gas price held steady at just under $3.85 a gallon.

  • Single-family home construction spending fell 4% in May from a year ago. Blame the Iran war.

  • Inflation in the Euro zone fell from over 3% in May to 2.8% in June. 
The Trump administration
  • President Donald Trump’s latest financial disclosure shows he made at least $2.2 billion last year, more than half of it from crypto. Many investors in Trump’s memecoin are facing huge losses.

  • In a recent survey, central banks around the world indicated they were cutting their dollar holdings after Trump’s trade war and actual war in Iran. Good time to revisit our story on what a “de-dollarized” global economy would look like. 
Sustainability
  • Our podcast “How We Survive” spent five episodes this season looking at the weird, wild, controversial ways humanity could try to reshape the climate. In this week’s episode, we answer your questions about geoengineering. Listen now.

  • People can now use prediction markets to bet on wildfires. What could possibly go wrong?


QUOTE OF THE DAY
“Our operating system as humans is built to procrastinate on things that are not instantly gratifying. You've got to outsmart your operating system and figure out a workaround that's going to get you where you want to be.”
— Katy Milkman, behavioral economist at the University of Pennsylvania
This evening, dozens of listeners to our podcast “This Is Uncomfortable” gathered on Zoom with host Reema Khrais to finally tackle that financial task they’ve been putting off. Maybe you have one of your own — a subscription you need to figure out how to cancel, or a retirement account from an old job to roll over. Maybe you just need a budget! If you’ve been procrastinating “life admin” for months or even years, listen to these tips.
HEAR MORE
Graduates throw up their caps.
Dan Kitwood/Getty Images
Final note
Cap and no gown?
New strict limits on federal student loans went into effect today: $200,000 total for professional degrees like law and med school, $100,000 for other graduate programs. Critics say these limits could shut low-income students out of higher-paying jobs starting this fall.
 
Thanks for reading! If you enjoyed this newsletter, forward it to a friend. If this newsletter was forwarded to you, subscribe to Marketplace newsletters here.

 Got feedback for us? Just reply to this email. We can't get back to everyone, but we read it all.
Terms of use | Your privacy rights | Contact Us | Donate

© 2025 American Public Media Group. All rights reserved.

Terms of use | Your privacy rights | Contact Us

© 2026 American Public Media Group. All rights reserved.