Who's getting those tariff refunds?

This Friday edition of Marketplace All-in-One dives into the latest U.S. jobs report, which revealed 115,000 new jobs in April with the unemployment rate holding steady at 4.3%. Host Kyle Rizdahl and economists Heather Long and Greg Ip discuss the mixed signals in the economy: strong job growth in sectors like transportation, warehousing, and construction contrasts with stagnant wage growth and persistent inflation, especially from surging gas prices. A key theme is the 'split-screen economy'—where AI-driven tech stocks soar while Main Street struggles. Despite record highs in the Nasdaq and S&P 500, tech layoffs continue, driven by AI efficiency gains and post-pandemic overhiring, not necessarily job loss from AI itself. Meanwhile, the fallout from Trump’s invalidated tariffs is unfolding: Customs and Border Protection is processing refunds, but the question of who gets the money remains complex. Businesses in the supply chain—especially importers—can claim refunds, but many suppliers refuse, and downstream businesses like restaurants and retailers often can’t recover costs due to opaque pricing and weak bargaining power. The episode also covers the economic ripple effects of Spirit Airlines’ collapse, drawing parallels to Cleveland’s post-merger airport decline, and highlights a surprising resurgence in Mahjong, exemplified by New York’s Sparrows Nest Studio. The episode closes with a playful note on the precision of unemployment rate rounding.