Can we make Social Security better for blue-collar workers?
The Indicator from Planet Money

Can we make Social Security better for blue-collar workers?

B2Upper-intermediateOctober 2, 20269 min

Most workers can’t start collecting full Social Security benefits until age 67. But a new proposal from Michigan Congresswoman Haley Stevens would allow workers in “physically demanding jobs” to receive full retirement benefits at 60. Today, two social security experts tell us the pros and cons. Fact checking by Sierra Juarez. Your Next Listen — Iceberg ahead for Social Security Connect with The Indicator — Sign up for The Indicator’s weekly newsletter! — Buy the Planet Money book — Find our socials, YouTube and more! — For sponsor-free episodes, subscribe to NPR+ See pcm.adswizz.com for...

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This is the indicator from Planet Money. I'm Adrian Ma.

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N. P. R. This is the indicator from Planet Money. I'm Adrian Ma. And I'm Waylon Wong, and it is Jobs Friday, the day of the month where we check the latest jobs numbers and spotlight trends in the labor market. That's right. And according to the Bureau of Labor Statistics, the unemployment rate in September ticked up a tenth of a percentage point to 4.2, so not much of a change there.

0:26

And the economy added 29,000 jobs. Also, the numbers for July and August were revised downward. So July actually turned from positive to negative with minus 10,000 jobs. Meanwhile, the rate of annual wage growth has continued to slow down.

0:41

It was 3% in September. Compare that to inflation, which is around 3.4%. So while the job market is kind of moving sideways, people's pay is not keeping up with rising costs.

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