WEBVTT - America's Truckin Network -- 10/7/25

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<v Speaker 1>This is America's Trucking Network with Kevin Gordon.

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<v Speaker 2>Lovable or thanks for tuning in, as we begin our

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<v Speaker 2>week here on America's struck A Network. You know, looking

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<v Speaker 2>at some of the weather reports over the weekend, you know,

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<v Speaker 2>they had all these hurricanes and potential hurricanes title or

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<v Speaker 2>tropical waves is what they were calling them, all mixing

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<v Speaker 2>up in the western Atlantic Ocean near our east coast. Now,

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<v Speaker 2>we did have what was it Amelda that gave a

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<v Speaker 2>little bit of storm surge and I think it took

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<v Speaker 2>out about twelve houses along the North Carolina Shore on

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<v Speaker 2>the outer Banks. Which given the fact that we're in

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<v Speaker 2>the middle of the hurricane season from June one until

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<v Speaker 2>November thirtieth, we have been doing pretty well so far.

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<v Speaker 2>So right now there are no tropical storms tropical cyclones

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<v Speaker 2>in the Atlantic at this time, so that is very

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<v Speaker 2>good news. What is going on, you know, of course

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<v Speaker 2>we've got the government shut down, But what's interesting is

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<v Speaker 2>some of the news that's coming out as a result

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<v Speaker 2>of that. Let's go through this. We have certain economic

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<v Speaker 2>reports that come out from the Bureau of Labor Statistics

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<v Speaker 2>and other organizations attached to the government, which we're supposed

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<v Speaker 2>to come out on Thursday and Friday, but they've been

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<v Speaker 2>delayed as a result of the shutdown. But there's been

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<v Speaker 2>some economic news that has been coming out which is

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<v Speaker 2>interesting how that's gathered, and we'll talk about that in

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<v Speaker 2>a minute. Here a report shows hiring at the lowest

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<v Speaker 2>level since two thousand and nine as economists turned to

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<v Speaker 2>alternate data during shutdown blackout. Unemployment changed little in September,

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<v Speaker 2>while layoff and hiring rates both slowed. According to a

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<v Speaker 2>separate labor market report on the last third, the jobless

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<v Speaker 2>level barely moved at four point three four percent, according

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<v Speaker 2>to the relatively new set of data indicators compiled by

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<v Speaker 2>the Chicago Federal Reserve. Now they stop here for a second.

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<v Speaker 2>The Federal Reserve employs twenty three thousand people. Twenty three

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<v Speaker 2>thousand people. What in the hell do all those people do?

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<v Speaker 2>Why aren't they gathering all this economic data? Why do

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<v Speaker 2>they depend on the Bureau of Labor Statistics? Like I

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<v Speaker 2>said twenty three, what do they do? They hire a

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<v Speaker 2>bunch of these economists and they're supposed to know what

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<v Speaker 2>are they sitting around on their thumbs all day? I mean,

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<v Speaker 2>nobody talks about what they do. Nobody talks about what

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<v Speaker 2>information they gather. And so if they are gathering this

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<v Speaker 2>information and they claim, as they say, is all this

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<v Speaker 2>talk about Donald Trump trying to replace lion Jerry Power?

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<v Speaker 2>And they said, whoa. You know if he does that,

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<v Speaker 2>you know that's going to put into question the independence

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<v Speaker 2>of the Federal Reserve. And when Donald Trump tries to

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<v Speaker 2>nominate somebody to the Federal Reserve, all of a sudden, it's, oh,

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<v Speaker 2>he's trying to make the Federal Reserve more conservative. Well,

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<v Speaker 2>you don't think Joe Biden when he added people to

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<v Speaker 2>the Federal Reserve, or Bill Clinton or Obama that they

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<v Speaker 2>weren't somehow more liberal. As a matter of fact, Austin Goldsby,

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<v Speaker 2>you may have heard that name. He was one of

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<v Speaker 2>the chief economic advisors to Obama. He is now head

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<v Speaker 2>of the Federal Reserve in Chicago for that region. So

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<v Speaker 2>that's a political appointment. And let me tell you some

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<v Speaker 2>of the liberal crap that came out of his mouth

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<v Speaker 2>during the Obama administration and advisory as far as the

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<v Speaker 2>Obama administration was very questionable. So this whole idea of

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<v Speaker 2>the Federal Reserve quote being independent, is independent to a

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<v Speaker 2>certain extent except when a Republican is nominating people. So

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<v Speaker 2>if the Federal Reserve is capable of coming up with

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<v Speaker 2>these statistics, why aren't And of course supposedly they're independent.

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<v Speaker 2>Bureau of Labor statistics is the Department of Treasury is

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<v Speaker 2>under the Department of Treasury. So with that being part

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<v Speaker 2>of the federal government, part of whatever president is in

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<v Speaker 2>office at that time, should they question that or do

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<v Speaker 2>we have just a bunch of bureaucrats in that area

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<v Speaker 2>that really no matter who's in that department, which generally

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<v Speaker 2>is more liberal attainted that, how independent is that information?

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<v Speaker 2>So continue on here. Again, all this data is compiled

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<v Speaker 2>by the Chicago Federal Reserve, which again is headed by

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<v Speaker 2>Austin Goldsby, who is a liberal. I'm not sure how

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<v Speaker 2>much control he has over this, but again that's worth

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<v Speaker 2>noting that represented a little change from August though the

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<v Speaker 2>unemployment rate four point three four percent was just one

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<v Speaker 2>one hundredth of a percentage point away from moving up

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<v Speaker 2>to four point four percent. Now, you don't have to

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<v Speaker 2>be really good at math to figure out that four

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<v Speaker 2>point three four percent plus point one percent would take

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<v Speaker 2>that up to four point three five percent. How is

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<v Speaker 2>that one hundredth of a point away from four percent. Really,

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<v Speaker 2>do they not understand math? Maybe that's probably the problem

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<v Speaker 2>with some of this economic data that we don't have

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<v Speaker 2>anybody that knows how to add, to subtract and multiply

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<v Speaker 2>and divide. Four point three four percent is not a

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<v Speaker 2>one hundredth of a percentage point away from four point

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<v Speaker 2>four percent. It's one hundredth of a point away from

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<v Speaker 2>four point three five percent. But anyway, let's continue on here.

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<v Speaker 2>Four point four percent the highest level since October of

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<v Speaker 2>twenty twenty one, which is false. In September, the Central

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<v Speaker 2>Bank District announced it would be releasing its own dashboard

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<v Speaker 2>of labor market indicators. That also includes the layoff rate,

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<v Speaker 2>which was little change monthly at two point one percent,

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<v Speaker 2>and the hiring rate, which moved closer lower to forty

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<v Speaker 2>five point two percent, down four ten percent from August.

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<v Speaker 2>So if there are all these other agencies out there,

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<v Speaker 2>We've got the ADP payroll report that comes out that

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<v Speaker 2>people rely on. We have the Challenger Challenger Christmas and

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<v Speaker 2>whatever that hiring firm A Challenger Great Challenger Gray and

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<v Speaker 2>Christmas is the name of the organization, and they have

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<v Speaker 2>economic data that they track as far as hirings and

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<v Speaker 2>firings because they do a lot of recruiting and so on,

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<v Speaker 2>so they are aware of it. Why can't these organizations

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<v Speaker 2>prepare and present this economic data rather than the Bureau

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<v Speaker 2>of Labor Statistics and with a bloated bureaucracy. And again,

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<v Speaker 2>if these people are out in the marketplace, if they

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<v Speaker 2>are dealing with it on a day to day basis,

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<v Speaker 2>wouldn't you think that their information is a little bit

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<v Speaker 2>more accurate. And another little thing is that as we

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<v Speaker 2>get into this economic data, as we looked at that

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<v Speaker 2>Bureau of Labor Statistics report where that one lady got

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<v Speaker 2>fired as a result of you know, in the previous

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<v Speaker 2>year they missed the employment. They over reported jobs by

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<v Speaker 2>what was it, eight hundred and eighteen thousand, and then

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<v Speaker 2>this year they overestimated that by nine hundred and eleven thousand.

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<v Speaker 2>In other words, they overestimated the number of jobs that

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<v Speaker 2>were created by nine hundred and eleven thousand. Now, again

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<v Speaker 2>that report was at the from March of last year

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<v Speaker 2>until March of this year, but the data came out

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<v Speaker 2>in August, so they missed that by that much, almost

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<v Speaker 2>a million jobs that they missed or overestimated over the

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<v Speaker 2>last couple mile. Actually, if you add the two years together,

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<v Speaker 2>that's almost one point eight million jobs that were over reported.

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<v Speaker 2>So if they're that bad at gathering that data, why

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<v Speaker 2>is that data being relied upon? And little known fact,

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<v Speaker 2>it's interesting that since Donald Trump has been in office,

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<v Speaker 2>and during his first term as well, when he talks

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<v Speaker 2>about certain things, what he's doing is pulling the curtain

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<v Speaker 2>back on everything that is being done. It's almost like

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<v Speaker 2>the Wizard of Oz, you know, all of a sudden,

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<v Speaker 2>the dog goes up and pulls the curtain back and

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<v Speaker 2>finds out that the wizard is actually somebody behind a

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<v Speaker 2>curtain controlling all the levers, and it's really just a

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<v Speaker 2>man and not some grand wizard. Now, so when he

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<v Speaker 2>pulls the curtain back, we learn certain things. We learn

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<v Speaker 2>that these data from the federal government is based on surveys.

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<v Speaker 2>They send out these surveys they ask for people to

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<v Speaker 2>respond to that the response rate, you know, when they're

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<v Speaker 2>supposed to be done by a certain date, they get

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<v Speaker 2>about a sixty percent result. That's why in the following

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<v Speaker 2>month you see these adjustments because they get more data

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<v Speaker 2>in after the due date and then they usually have

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<v Speaker 2>a third revision because then they get in more of

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<v Speaker 2>these surveys. So if you're depending upon people and it's

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<v Speaker 2>not it's not forced, it's not mandated that they report,

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<v Speaker 2>So all of this report is based on people returning surveys,

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<v Speaker 2>so it's it's not really scientific and obviously not very accurate.

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<v Speaker 2>We'll pick this up on the other side. I'm Kevin Gordon,

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<v Speaker 2>america'struck In Network seven hundred WLW.

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<v Speaker 3>What mean?

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<v Speaker 1>This is the rathing report on America's Trucking Network on

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<v Speaker 1>seven hundred WLW.

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<v Speaker 4>Shane Van Gisberg and got his fifth W the year

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<v Speaker 4>Sunday and is at the Charlotte Roval battling second place KYLEL.

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<v Speaker 4>drivers are Larson, Chase Elliott, Denny Hamblin, Ryan Blaney, Chase Briscoe,

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<v Speaker 4>Christopher Bell, Joelgano, and also William Byron. In the Infinity

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<v Speaker 2>Downloaded now. I'm Kevin Gored in America struck a network

0:13:09.960 --> 0:13:15.880
<v Speaker 2>seven hundred WLW talking about this report shows hiring it

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<v Speaker 2>lois since two thousand and nine, as economists turned to

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<v Speaker 2>alternate alternative data during shutdown blackout. They go on to

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<v Speaker 2>report here that represents a little change blah blah blah

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<v Speaker 2>in terms of the unemployment rate. In September, the Central

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<v Speaker 2>Bank announced that it would be releasing its own dashboard.

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<v Speaker 2>I mentioned that in the previous segment, so now we're

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<v Speaker 2>depending on them to release this data. Elsewhere in the

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<v Speaker 2>labor market, outplacement firm Challenger, Great and Christmas reported that

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<v Speaker 2>layoff announcements declined by thirty seven percent in September, and

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<v Speaker 2>we're down twenty six percent from the same month a

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<v Speaker 2>year ago. So again, the layoff announcements declined by thirty

0:13:59.200 --> 0:14:01.840
<v Speaker 2>seven percent, So that means that there's a lot less

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<v Speaker 2>companies that are talking about laying people off to the

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<v Speaker 2>tune of about thirty seven percent and down twenty six

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<v Speaker 2>percent from the same month a year ago. However, the

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<v Speaker 2>year to date level of planning furloughs as the highest

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<v Speaker 2>since twenty twenty, the year of the COVID plandemic I'm sorry, pandemic.

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<v Speaker 2>According to this Challengers said announced cuts have totaled nine

0:14:24.800 --> 0:14:29.280
<v Speaker 2>hundred and forty six thousand, basically nine hundred and forty

0:14:29.320 --> 0:14:33.120
<v Speaker 2>six thousand through the first three quarters. The figure already

0:14:33.240 --> 0:14:36.600
<v Speaker 2>is twenty four percent higher than all of twenty twenty four,

0:14:37.040 --> 0:14:40.960
<v Speaker 2>which kind of discounts or pulls into question what they

0:14:41.000 --> 0:14:43.760
<v Speaker 2>said in the previous paragraph where they set it declined

0:14:43.800 --> 0:14:47.000
<v Speaker 2>thirty seven percent in September, and we're down twenty six

0:14:47.120 --> 0:14:50.080
<v Speaker 2>percent from the same month a year ago, So now

0:14:50.080 --> 0:14:52.800
<v Speaker 2>are they talking about then on a yearly basis, it's

0:14:52.800 --> 0:14:56.040
<v Speaker 2>still already twenty four percent higher than all of twenty

0:14:56.080 --> 0:15:00.160
<v Speaker 2>twenty four. Again, that has to do with company these

0:15:00.480 --> 0:15:06.520
<v Speaker 2>uh switching, companies looking being a little bit leaner, companies

0:15:06.680 --> 0:15:10.280
<v Speaker 2>not hiring as much, companies if people are being what

0:15:10.680 --> 0:15:15.000
<v Speaker 2>people are quitting, are not being replaced. Are some of

0:15:15.000 --> 0:15:18.240
<v Speaker 2>these layoffs? Are they tying in some of the federal

0:15:18.480 --> 0:15:21.040
<v Speaker 2>employees that have been laid off, because that's a whole

0:15:21.040 --> 0:15:24.040
<v Speaker 2>different bucket, But they don't go into that here. And

0:15:24.080 --> 0:15:26.480
<v Speaker 2>the fact that they are able to come up with

0:15:26.560 --> 0:15:30.160
<v Speaker 2>this data and present it, Why are we then dependent

0:15:30.240 --> 0:15:33.440
<v Speaker 2>upon an agency of the federal government doing that? Why

0:15:33.440 --> 0:15:36.720
<v Speaker 2>don't we Why doesn't the federal government outsource some of

0:15:36.720 --> 0:15:41.600
<v Speaker 2>this information to other more reputable organizations, pay a fee,

0:15:41.960 --> 0:15:44.400
<v Speaker 2>pay a fee to get that information or something, or

0:15:44.440 --> 0:15:47.040
<v Speaker 2>allow these companies to just go ahead and gather the

0:15:47.120 --> 0:15:50.920
<v Speaker 2>data and present it, because again it is their job.

0:15:51.320 --> 0:15:55.040
<v Speaker 2>It is them that are doing more outplacement. They are

0:15:55.080 --> 0:15:58.600
<v Speaker 2>doing more higher you know, doing the recruiting, and so

0:15:59.120 --> 0:16:02.240
<v Speaker 2>they would have a lot more accurate data in order

0:16:02.280 --> 0:16:06.120
<v Speaker 2>to present and if they're trying to keep their business afloat,

0:16:06.440 --> 0:16:09.120
<v Speaker 2>they would want to have accurate data. If you're in

0:16:09.160 --> 0:16:13.080
<v Speaker 2>the government and you're off well, like we saw, we

0:16:13.120 --> 0:16:15.560
<v Speaker 2>had the said the lady that was in charge of

0:16:15.600 --> 0:16:19.560
<v Speaker 2>Bureau of Labor Statistics, she blew that number by eight

0:16:19.640 --> 0:16:24.160
<v Speaker 2>hundred and eighteen thousand jobs the previous year, kept her job,

0:16:24.520 --> 0:16:27.320
<v Speaker 2>all the people underneath her kept their job. Then all

0:16:27.360 --> 0:16:31.200
<v Speaker 2>of a sudden, the following year they doubled down more

0:16:31.240 --> 0:16:35.360
<v Speaker 2>than increased that by another nine hundred and eleven thousand,

0:16:36.120 --> 0:16:39.480
<v Speaker 2>and then everybody was surprised when Donald Trump said this

0:16:39.520 --> 0:16:42.200
<v Speaker 2>person needs to be fired. And they said, well, you know,

0:16:42.520 --> 0:16:46.200
<v Speaker 2>now you're messing with the independence of this agency. Who

0:16:46.280 --> 0:16:49.040
<v Speaker 2>cares about the independence of this agency If they're giving

0:16:49.080 --> 0:16:52.440
<v Speaker 2>you crappy data, and they blamed They said, well, you know,

0:16:52.520 --> 0:16:55.640
<v Speaker 2>a lot of the information is coming from other sources. Well,

0:16:55.840 --> 0:16:59.080
<v Speaker 2>I'm sorry. If you're ahead of the organization and the

0:16:59.160 --> 0:17:02.520
<v Speaker 2>people underneath you, you're dependent upon them doing their job,

0:17:02.800 --> 0:17:05.439
<v Speaker 2>and then the people under them doing their job and

0:17:05.480 --> 0:17:08.399
<v Speaker 2>giving you the information, and then the information comes up

0:17:08.440 --> 0:17:11.360
<v Speaker 2>and you're the one that reports it. I would think

0:17:11.400 --> 0:17:13.760
<v Speaker 2>that as the head of that organization and say, you

0:17:13.880 --> 0:17:16.359
<v Speaker 2>better damn well be sure that all this information that

0:17:16.400 --> 0:17:18.280
<v Speaker 2>you're giving me, because I don't want to look bad

0:17:18.320 --> 0:17:20.280
<v Speaker 2>and I don't want to lose my job. Maybe you

0:17:20.320 --> 0:17:22.359
<v Speaker 2>ought to lose your job, and I get somebody else

0:17:22.359 --> 0:17:25.159
<v Speaker 2>in here that'll give us the accurate data. But again,

0:17:25.520 --> 0:17:29.040
<v Speaker 2>in these bureaucracies, it's so difficult to get people fired,

0:17:29.240 --> 0:17:32.800
<v Speaker 2>to get people laid off, or to you know, to

0:17:32.840 --> 0:17:36.359
<v Speaker 2>streamline some of these agencies. And if they're not doing

0:17:36.400 --> 0:17:40.399
<v Speaker 2>these jobs properly, then why are they even there in

0:17:40.400 --> 0:17:43.000
<v Speaker 2>that position to begin with? And I go back to

0:17:43.040 --> 0:17:47.960
<v Speaker 2>the Federal Reserve. Federal Reserve has twenty three thousand employees.

0:17:48.400 --> 0:17:52.879
<v Speaker 2>Now Ron Paul when he ran Paul's father, he was

0:17:52.920 --> 0:17:56.760
<v Speaker 2>a congressman from Texas. He always talked about and introduced

0:17:56.760 --> 0:18:00.800
<v Speaker 2>bills to audit the FED because the Federal depends on

0:18:00.840 --> 0:18:03.600
<v Speaker 2>the Federal Reserve for this information, and they're the ones

0:18:03.640 --> 0:18:07.560
<v Speaker 2>that determine the interest rate as far as that overnight banking,

0:18:07.640 --> 0:18:10.119
<v Speaker 2>and it's you know that four point three percent in

0:18:10.200 --> 0:18:12.639
<v Speaker 2>terms of the banks. If they need money, they borrow

0:18:12.640 --> 0:18:15.240
<v Speaker 2>from other banks, and that's the overnight rate that they borrow,

0:18:15.520 --> 0:18:17.720
<v Speaker 2>and then that affects the interest rates as far as

0:18:17.760 --> 0:18:21.440
<v Speaker 2>credit cards, loans, and then also eventually goes over into

0:18:21.480 --> 0:18:24.280
<v Speaker 2>the housing market and affects the interest rates over there.

0:18:24.600 --> 0:18:29.960
<v Speaker 2>So if this organization is just spiraling out of control,

0:18:30.320 --> 0:18:33.480
<v Speaker 2>has way too many employees. As a matter of fact,

0:18:33.680 --> 0:18:38.000
<v Speaker 2>during this whole flat with Lion Jerry Powell and Donald Trump,

0:18:38.359 --> 0:18:40.920
<v Speaker 2>they said that, well, you know, maybe we do our

0:18:41.080 --> 0:18:43.920
<v Speaker 2>We are a little top heavy, so we'll reduce our

0:18:44.200 --> 0:18:48.320
<v Speaker 2>workforce by about ten percent by twenty twenty seven. We're

0:18:48.320 --> 0:18:52.520
<v Speaker 2>in the private sector. If you're having problems with you're

0:18:52.560 --> 0:18:55.479
<v Speaker 2>losing money and you need to cut costs, how do

0:18:55.520 --> 0:18:58.560
<v Speaker 2>you How can you wait two years before you make

0:18:58.600 --> 0:19:03.000
<v Speaker 2>those adjustments? But the are reserve because who's overseeing them?

0:19:03.160 --> 0:19:05.840
<v Speaker 2>And again Ron Paul and then Rand Paul now is

0:19:05.920 --> 0:19:09.920
<v Speaker 2>calling for the picking up that mantra because Ron Paul retired,

0:19:10.080 --> 0:19:11.800
<v Speaker 2>but Ran Paul has been calling for the audit of

0:19:11.840 --> 0:19:14.200
<v Speaker 2>the FED. And yet these people just you know, people

0:19:14.240 --> 0:19:17.000
<v Speaker 2>in Congress, Senate just say, you know, it's okay, it's

0:19:17.000 --> 0:19:19.720
<v Speaker 2>the FED. You know, they're independent source, and we don't

0:19:19.760 --> 0:19:22.280
<v Speaker 2>want to deal with that. Yet we saw the report

0:19:22.680 --> 0:19:25.880
<v Speaker 2>what was it a couple months ago where the overruns

0:19:25.920 --> 0:19:29.080
<v Speaker 2>they were doing the renovations they are now it was

0:19:29.119 --> 0:19:31.560
<v Speaker 2>supposed to be I forget what the number was, but

0:19:31.600 --> 0:19:34.919
<v Speaker 2>they're now twenty five to forty percent higher than what

0:19:35.040 --> 0:19:38.560
<v Speaker 2>those estimates were to revamp and remodel the Federal Reserve

0:19:38.760 --> 0:19:43.520
<v Speaker 2>building there in Washington. So they're they're not handling that,

0:19:44.000 --> 0:19:47.240
<v Speaker 2>they can't control that. And yet they're talking about, well,

0:19:47.280 --> 0:19:49.560
<v Speaker 2>we are blown. We're going to reduce our work staff

0:19:49.600 --> 0:19:53.119
<v Speaker 2>by ten percent two years from now. So again, you know,

0:19:53.720 --> 0:19:58.479
<v Speaker 2>twenty three thousand employees, what do they do? And nobody

0:19:58.520 --> 0:20:01.199
<v Speaker 2>ever talks about the information and that they gat that

0:20:01.320 --> 0:20:03.359
<v Speaker 2>out of the Federal Reserve. We get this data, we

0:20:03.440 --> 0:20:06.240
<v Speaker 2>get this data, we get this data. They never go

0:20:06.320 --> 0:20:09.320
<v Speaker 2>into detail of that. But yet the spoon feder regurgitators

0:20:09.320 --> 0:20:12.439
<v Speaker 2>in the mainstream media when a headline comes up, boom,

0:20:12.440 --> 0:20:15.639
<v Speaker 2>they repeat it like a bunch of parrots. It's just unbelievable.

0:20:15.960 --> 0:20:18.359
<v Speaker 2>But the fact that Donald Trump has pulled the curtain

0:20:18.440 --> 0:20:21.800
<v Speaker 2>back on these agencies and said, Okay, well, you know,

0:20:21.960 --> 0:20:24.800
<v Speaker 2>they need to be more accurate in terms of the

0:20:24.880 --> 0:20:27.119
<v Speaker 2>data that they give us. And if we're not getting

0:20:27.119 --> 0:20:29.320
<v Speaker 2>the accurate data, the people that are in charge of

0:20:29.320 --> 0:20:32.040
<v Speaker 2>that and Bureau of Labor Statistics or wherever are going

0:20:32.119 --> 0:20:33.879
<v Speaker 2>to get canned. And we're going to get people in

0:20:33.880 --> 0:20:36.520
<v Speaker 2>there that can get the accurate information and put the

0:20:36.560 --> 0:20:39.800
<v Speaker 2>pressure on the FED. With twenty three thousand employees, what

0:20:40.000 --> 0:20:43.399
<v Speaker 2>information are they providing and do they have too many employees?

0:20:43.640 --> 0:20:48.240
<v Speaker 2>So the whole thing is just nuts. Let's see. At

0:20:48.280 --> 0:20:51.880
<v Speaker 2>the same time, firma is hiring plans have receded sharply.

0:20:52.320 --> 0:20:55.720
<v Speaker 2>New hirings totaled just two hundred and four thousand, almost

0:20:55.720 --> 0:20:58.200
<v Speaker 2>two hundred five thousand so far in twenty twenty five,

0:20:58.680 --> 0:21:01.760
<v Speaker 2>off fifty eight percent from the same period a year ago,

0:21:02.040 --> 0:21:04.919
<v Speaker 2>and the lowest level since two thousand and nine. I

0:21:05.040 --> 0:21:07.040
<v Speaker 2>keep harping on the fact that one of the things

0:21:07.040 --> 0:21:10.560
<v Speaker 2>hold the main thing that's holding back our economy at

0:21:10.560 --> 0:21:14.760
<v Speaker 2>this point is interest rates. The fact that interest rates

0:21:14.760 --> 0:21:17.320
<v Speaker 2>are so high compared to the rest of the developed world.

0:21:17.600 --> 0:21:20.760
<v Speaker 2>All the Western countries have that overnight rate that they

0:21:20.840 --> 0:21:23.600
<v Speaker 2>charge the banks charge each other if they borrow money

0:21:23.840 --> 0:21:27.080
<v Speaker 2>is around two percent. Here in the United States, it's

0:21:27.119 --> 0:21:31.200
<v Speaker 2>between four and four point two percent to four point

0:21:31.240 --> 0:21:34.720
<v Speaker 2>two five percent. So why aren't we down a full

0:21:34.800 --> 0:21:39.080
<v Speaker 2>two percentage points lower? Because their unemployment rates are similar

0:21:39.119 --> 0:21:42.720
<v Speaker 2>to ours, their inflation rates are similar to ours, why

0:21:42.760 --> 0:21:45.960
<v Speaker 2>aren't our rates down the way they should be. The

0:21:46.040 --> 0:21:49.440
<v Speaker 2>one main factor is lying Jerry Powell talking about, Oh,

0:21:49.480 --> 0:21:52.480
<v Speaker 2>I'm worried about inflation. Well, you know when they look

0:21:52.520 --> 0:21:55.840
<v Speaker 2>at the inflation and the inflation hasn't creeped up. They

0:21:55.880 --> 0:21:58.000
<v Speaker 2>were saying that we were going to see five six

0:21:58.280 --> 0:22:01.160
<v Speaker 2>seven percent inflation by the end of the year. What

0:22:01.200 --> 0:22:05.080
<v Speaker 2>we're saying is around two point nine two point eight

0:22:05.359 --> 0:22:08.919
<v Speaker 2>and thereabouts. So this inflation that they keep talking about

0:22:09.320 --> 0:22:11.760
<v Speaker 2>just ain't happening. We'll pick this up and a little

0:22:11.800 --> 0:22:14.119
<v Speaker 2>bit more coming up. I'm Kevin Bordon, America's truck in

0:22:14.160 --> 0:22:17.720
<v Speaker 2>Network seven hundred WLW.

0:22:17.600 --> 0:22:26.120
<v Speaker 7>News Traffic and Weather. News Radio seven hundred WLW Cincinnati New.

0:22:25.920 --> 0:22:29.520
<v Speaker 8>Hope Tonight for a ceasefire in Gaza. With your twelve

0:22:29.520 --> 0:22:32.320
<v Speaker 8>thirty report, I'm Travis Lair Breaking.

0:22:32.359 --> 0:22:32.560
<v Speaker 2>Now.

0:22:33.520 --> 0:22:36.800
<v Speaker 8>President Trump is pushing his peace plan as talks begin

0:22:37.040 --> 0:22:41.080
<v Speaker 8>in Egypt. ABC News Chief Foreign correspondent Ian Panel reports

0:22:41.080 --> 0:22:41.800
<v Speaker 8>from Tel Aviv.

0:22:42.000 --> 0:22:45.040
<v Speaker 9>President Trump applying real pressure on promise to Nasaaho to

0:22:45.119 --> 0:22:47.359
<v Speaker 9>agree to this deal, and it really does feel like

0:22:47.359 --> 0:22:51.080
<v Speaker 9>a potentially game changing movement. You've got these indirect toalks

0:22:51.160 --> 0:22:55.040
<v Speaker 9>now underway in Egypt. Egypt Phase one, the President hopes

0:22:55.080 --> 0:22:57.280
<v Speaker 9>could be agreed as early as this week, would mean

0:22:57.320 --> 0:23:01.320
<v Speaker 9>the ceasefi, the release of hostages and I'm Palestinian prisoners,

0:23:01.359 --> 0:23:02.360
<v Speaker 9>and apostial.

0:23:02.000 --> 0:23:03.639
<v Speaker 2>Withdrawal of his Radi troops.

0:23:03.840 --> 0:23:06.120
<v Speaker 9>The key sticking point is going to be Phase two,

0:23:06.119 --> 0:23:09.159
<v Speaker 9>which GOLs the hamass to disarm and relinquished power.

0:23:10.040 --> 0:23:13.199
<v Speaker 7>Now, the ladies forecast from the Train Heating and Cooling

0:23:13.240 --> 0:23:16.840
<v Speaker 7>Weather Center on News Radio seven hundred WLW.

0:23:17.600 --> 0:23:20.160
<v Speaker 10>As we head to day break on Tuesday, we're going

0:23:20.200 --> 0:23:22.960
<v Speaker 10>to see rain and a chance of storms, a morning

0:23:23.000 --> 0:23:24.159
<v Speaker 10>low of sixty five.

0:23:24.280 --> 0:23:26.080
<v Speaker 2>The morning rush will be slow.

0:23:26.480 --> 0:23:29.800
<v Speaker 10>Throughout our Tuesday, We'll see rain and a chance of storms,

0:23:30.040 --> 0:23:33.640
<v Speaker 10>a high at seventy three at night, showers early then

0:23:33.760 --> 0:23:37.159
<v Speaker 10>ending a LOA fifty four from your severe weather station.

0:23:37.560 --> 0:23:42.359
<v Speaker 10>I'm nine First Warning Chief Meteorologist Steve Rawley, News Radio

0:23:42.520 --> 0:23:45.480
<v Speaker 10>seven hundred WLW.

0:23:44.680 --> 0:23:47.760
<v Speaker 8>Right now sixty seven degrees in Cincinnati, and it looks

0:23:47.800 --> 0:23:49.760
<v Speaker 8>like that break from the rain that I mentioned thirty

0:23:49.840 --> 0:23:53.600
<v Speaker 8>minutes ago is about to end. Saint Elizabeth Healthcare is

0:23:53.640 --> 0:23:56.040
<v Speaker 8>taking breast cancer screenings on the road this month. The

0:23:56.160 --> 0:23:59.560
<v Speaker 8>hospital's mobile mimography van is making stops throughout the tri

0:23:59.640 --> 0:24:03.320
<v Speaker 8>State during Breast Cancer Awareness Month, offering quick, low cost

0:24:03.359 --> 0:24:06.400
<v Speaker 8>screenings for women who are forty and older. The entire

0:24:06.440 --> 0:24:10.000
<v Speaker 8>process takes about fifteen minutes, and funding is available for

0:24:10.080 --> 0:24:11.480
<v Speaker 8>those of without insurance.

0:24:11.800 --> 0:24:12.280
<v Speaker 2>The St.

0:24:12.320 --> 0:24:15.320
<v Speaker 8>Elizabeth officials say the van is designed to reach patients

0:24:15.359 --> 0:24:18.800
<v Speaker 8>who might otherwise skip routine screenings because of time or

0:24:18.840 --> 0:24:22.200
<v Speaker 8>travel barriers. Appointments can be made through Saint Elizabeth's My

0:24:22.359 --> 0:24:25.800
<v Speaker 8>Chart portal or by calling the hospital directly. And Early

0:24:25.880 --> 0:24:29.800
<v Speaker 8>voting for Ohio's November fourth general election begins on Tuesday.

0:24:30.160 --> 0:24:33.320
<v Speaker 8>Voters can cast ballots in person at their county Board

0:24:33.359 --> 0:24:36.960
<v Speaker 8>of Elections or by mail through absentee voting. Applications for

0:24:37.040 --> 0:24:39.919
<v Speaker 8>mail in ballots are due October twenty eighth and polls

0:24:39.960 --> 0:24:42.639
<v Speaker 8>will be open on election Day from six thirty am

0:24:42.720 --> 0:24:45.879
<v Speaker 8>to seven thirty pm. Our next update is at one

0:24:45.920 --> 0:24:49.440
<v Speaker 8>o'clock Breaking News anytime. I'm Travis Laird News Radio seven

0:24:49.560 --> 0:24:51.760
<v Speaker 8>hundred WLW BURN.

0:24:51.840 --> 0:24:56.000
<v Speaker 11>Personalized savings on commercial truck insurance with Smarthaul from Progressive

0:24:56.119 --> 0:25:01.200
<v Speaker 11>Insurre a variety of commercial vehicles from cars, pickup trucks, vans, trailers, semis,

0:25:01.320 --> 0:25:05.119
<v Speaker 11>dump anto trucks, and more. Learn more at Progressivecommercial dot com.

0:25:05.119 --> 0:25:09.800
<v Speaker 11>Not available in all states. Your situations.

0:25:10.359 --> 0:25:12.720
<v Speaker 12>Here's your trucking forecast for the Try State and the

0:25:12.720 --> 0:25:14.399
<v Speaker 12>rest of the country. In the Try State of for

0:25:14.520 --> 0:25:17.600
<v Speaker 12>night showers, impossible storms, the low down to fifty six,

0:25:17.960 --> 0:25:20.920
<v Speaker 12>a cold front Tuesday brings more showers and possible storms,

0:25:20.960 --> 0:25:23.680
<v Speaker 12>a high of seventy four Sunday, and cooler Wednesday, a

0:25:23.760 --> 0:25:26.800
<v Speaker 12>high of sixty eight, more sunshine Thursday, and continuing to

0:25:26.800 --> 0:25:29.480
<v Speaker 12>feel more fall like highs again in the upper sixties

0:25:29.920 --> 0:25:32.920
<v Speaker 12>Nationally through Tuesday morning. There's a slight risk of assessive

0:25:33.000 --> 0:25:36.200
<v Speaker 12>rainfall for parts of the Ohio Valley as well as

0:25:36.200 --> 0:25:39.120
<v Speaker 12>the Middle and lower Mississippi Valleys. The Ohio Valley will

0:25:39.119 --> 0:25:41.680
<v Speaker 12>continue to see that risk throughout the day Tuesday as

0:25:41.720 --> 0:25:47.120
<v Speaker 12>well as in the Central Appalachians.

0:25:46.119 --> 0:25:49.720
<v Speaker 2>Seven hundred and WLW. I'm Kevin Gordon. This is America's

0:25:49.720 --> 0:25:54.120
<v Speaker 2>truck in Network. America's trucking networks support submission Rees across America.

0:25:54.480 --> 0:25:57.120
<v Speaker 2>You can hear us every truck and Tuesday at five

0:25:57.160 --> 0:26:01.200
<v Speaker 2>am and ten am Eastern on Race across America Radio.

0:26:01.520 --> 0:26:04.720
<v Speaker 2>Available on the iHeart Radio app. Search the word rease

0:26:04.960 --> 0:26:07.760
<v Speaker 2>for Reese across America Radio. And thank you to all

0:26:07.800 --> 0:26:11.120
<v Speaker 2>our truckers for supporting the mission of Reese across America.

0:26:11.320 --> 0:26:13.560
<v Speaker 2>And by the way, you can hit that Rees if

0:26:13.560 --> 0:26:16.480
<v Speaker 2>you're looking for the word rese that's w R E

0:26:16.640 --> 0:26:18.960
<v Speaker 2>A t HS. So if you're looking for that on

0:26:19.000 --> 0:26:23.879
<v Speaker 2>the iHeartRadio map app, just use the search word rease. Also,

0:26:24.160 --> 0:26:26.280
<v Speaker 2>if you miss any part of our program or any

0:26:26.320 --> 0:26:28.960
<v Speaker 2>of our segments, just hit up that iHeartRadio app for

0:26:30.480 --> 0:26:33.280
<v Speaker 2>America's Trucking Network. Of course, sponsored by our friends at

0:26:33.359 --> 0:26:37.800
<v Speaker 2>Rush Truck Center. Government shutdown threatens key economic data. And

0:26:37.800 --> 0:26:40.560
<v Speaker 2>now this was the thing that was referenced in the

0:26:40.560 --> 0:26:43.040
<v Speaker 2>previous story, and I just kind of skimmed through this

0:26:43.080 --> 0:26:47.000
<v Speaker 2>because there's now there's it's interesting the way they couched

0:26:47.040 --> 0:26:50.080
<v Speaker 2>US Again. This was Uh, this came at the end

0:26:50.119 --> 0:26:52.880
<v Speaker 2>of last week, right before the government shutdown and everything.

0:26:53.240 --> 0:26:55.879
<v Speaker 2>And they're talking about Given uncertainty about the impact that

0:26:55.920 --> 0:26:59.560
<v Speaker 2>Donald Trump's policies are having on the US economy, federal

0:26:59.600 --> 0:27:03.600
<v Speaker 2>gauges of employment, inflation, and spending are all the more important.

0:27:03.960 --> 0:27:08.720
<v Speaker 2>Any postponement could hamper key policy decision, such as whether

0:27:08.760 --> 0:27:11.960
<v Speaker 2>the Federal Reserve should cut interest rates again when it

0:27:12.040 --> 0:27:15.760
<v Speaker 2>meets next month. Again, I rely on what I said before.

0:27:16.640 --> 0:27:19.920
<v Speaker 2>Doesn't the Federal Reserve have this data? Can't they dig

0:27:19.960 --> 0:27:21.960
<v Speaker 2>some of the data out themselves and come up with

0:27:22.000 --> 0:27:25.080
<v Speaker 2>their own information. Can't they rely on some of these

0:27:25.119 --> 0:27:28.280
<v Speaker 2>other sources, some of these other companies out there, that

0:27:28.280 --> 0:27:32.080
<v Speaker 2>that's their job to produce this economic data in order

0:27:32.119 --> 0:27:36.359
<v Speaker 2>for them to be an advisory position to their clients,

0:27:36.800 --> 0:27:39.280
<v Speaker 2>or if they're doing if they're in the hiring business

0:27:39.440 --> 0:27:42.760
<v Speaker 2>where they're doing the outplacement, or if they're doing the

0:27:42.880 --> 0:27:49.680
<v Speaker 2>hiring the interviews for these other companies the recruitment, wouldn't

0:27:49.680 --> 0:27:52.160
<v Speaker 2>they have a much better feel for what these numbers are.

0:27:52.440 --> 0:27:56.639
<v Speaker 2>But of course this is what organization of this. I

0:27:56.640 --> 0:27:59.280
<v Speaker 2>think it's an associated press. Of course, we're not going

0:27:59.359 --> 0:28:02.040
<v Speaker 2>to get and balanced coverage from them. But I thought

0:28:02.119 --> 0:28:05.600
<v Speaker 2>that was an interesting opening paragraph given uncertainty about the

0:28:05.640 --> 0:28:09.159
<v Speaker 2>impact that President Donald Trump's policies are having on the

0:28:09.240 --> 0:28:13.560
<v Speaker 2>US economy. All right, now, this is the same phrase

0:28:13.760 --> 0:28:19.800
<v Speaker 2>that's been used since January, the uncertainty of Trump economic policies.

0:28:20.560 --> 0:28:23.840
<v Speaker 2>So wouldn't you think that by what now, the first

0:28:24.280 --> 0:28:29.080
<v Speaker 2>week of October, that if something was so dire, that

0:28:29.440 --> 0:28:32.120
<v Speaker 2>maybe it would have happened in January or February, March,

0:28:32.200 --> 0:28:36.000
<v Speaker 2>how about July, how about September? But we're into October now,

0:28:36.240 --> 0:28:39.040
<v Speaker 2>and none of it has surfaced that these so called

0:28:39.120 --> 0:28:42.800
<v Speaker 2>economists have been claiming that is going to happen. So

0:28:43.000 --> 0:28:45.640
<v Speaker 2>why do they keep beating this drum? I mean, they're

0:28:45.680 --> 0:28:48.680
<v Speaker 2>starting to look like a bunch of fools. Gregory Daco,

0:28:48.920 --> 0:28:52.560
<v Speaker 2>chief Economists at E. E. Y Parthenon, You don't want

0:28:52.600 --> 0:28:57.000
<v Speaker 2>to be flying blind in a foggy environment. Now, if

0:28:57.040 --> 0:29:01.840
<v Speaker 2>you're an investment strategist at Chief Economy US at this organization,

0:29:02.400 --> 0:29:05.800
<v Speaker 2>wouldn't you think that with your clients, with the people

0:29:05.840 --> 0:29:08.920
<v Speaker 2>that you talk about on a regular basis, that you

0:29:09.000 --> 0:29:12.000
<v Speaker 2>would have some information about this. But I guess that's

0:29:12.040 --> 0:29:15.040
<v Speaker 2>asking too much further on, they start talking about the

0:29:15.080 --> 0:29:17.720
<v Speaker 2>different economic data that is going to be delayed as

0:29:17.760 --> 0:29:21.400
<v Speaker 2>a result of this government shutdown. Now, we've already seen

0:29:21.480 --> 0:29:24.720
<v Speaker 2>that the initial job of claims from last week didn't

0:29:24.720 --> 0:29:27.480
<v Speaker 2>come out on Thursday. Possible that they're not going to

0:29:27.480 --> 0:29:31.040
<v Speaker 2>come out this next Thursday or the Thursday after monthly

0:29:31.120 --> 0:29:35.160
<v Speaker 2>jobs report we're due on October third, Trade balance October

0:29:35.200 --> 0:29:39.400
<v Speaker 2>the seventh, consumer price index on the fifteenth, retail sales

0:29:39.400 --> 0:29:43.920
<v Speaker 2>on the sixteenth, and producer price index on October sixteenth.

0:29:44.120 --> 0:29:48.160
<v Speaker 2>These may all be delayed. Department of Labor, which oversees BLS,

0:29:48.280 --> 0:29:54.320
<v Speaker 2>released updated guidelines that confirm the statistical agency would suspend

0:29:54.440 --> 0:29:58.880
<v Speaker 2>all operations and seize data collection during the lapse during

0:29:58.920 --> 0:30:03.080
<v Speaker 2>the appropriations. Now, again, these are all based on surveys.

0:30:03.520 --> 0:30:09.320
<v Speaker 2>I would think that in the twenty first century that

0:30:09.400 --> 0:30:14.160
<v Speaker 2>we would have better data collection than just sending out

0:30:14.200 --> 0:30:17.360
<v Speaker 2>a survey and hoping that people send that back in.

0:30:17.960 --> 0:30:20.080
<v Speaker 2>Wouldn't you think that they'd have some sort of a

0:30:20.240 --> 0:30:24.200
<v Speaker 2>better gauge at being able to get this information or

0:30:24.360 --> 0:30:27.760
<v Speaker 2>make the survey easier for these companies to fill out,

0:30:28.000 --> 0:30:30.760
<v Speaker 2>so that they'd be more likely to fill it out

0:30:31.000 --> 0:30:34.480
<v Speaker 2>or delay it again, that's why we have these revisions.

0:30:34.640 --> 0:30:36.880
<v Speaker 2>You come out with the data that's supposed to be

0:30:36.880 --> 0:30:39.640
<v Speaker 2>on a date certain than the following month. They adjust

0:30:39.720 --> 0:30:42.239
<v Speaker 2>that based on more data that they get in, and

0:30:42.280 --> 0:30:45.480
<v Speaker 2>then beyond that they have more data that comes in.

0:30:45.720 --> 0:30:49.360
<v Speaker 2>So getting a streamlined situation where it's better for these

0:30:49.360 --> 0:30:52.960
<v Speaker 2>companies to release this information and get it to the

0:30:52.960 --> 0:30:56.040
<v Speaker 2>Bureau of Labor Statistics, I think that would be a

0:30:56.080 --> 0:30:59.240
<v Speaker 2>pretty good idea. BLS has to delay publication and the

0:30:59.320 --> 0:31:02.320
<v Speaker 2>jobs Report and CPI when the government was shut down

0:31:02.520 --> 0:31:06.840
<v Speaker 2>in twenty thirteen. There was a shutdown more recently in

0:31:06.880 --> 0:31:11.200
<v Speaker 2>twenty eighteen twenty nineteen, but prior funding ensured that BLS

0:31:11.360 --> 0:31:15.640
<v Speaker 2>would release major data. And again, if this continuing resolution

0:31:15.960 --> 0:31:18.200
<v Speaker 2>had been put in place, or been allowed to be

0:31:18.240 --> 0:31:22.600
<v Speaker 2>put in break place by Chuck Schumer, this Schumer shutdown

0:31:22.840 --> 0:31:27.120
<v Speaker 2>wouldn't be a problem right now. Let's see Stephen Sanley,

0:31:27.520 --> 0:31:33.280
<v Speaker 2>chief US economists at sand tandor US Capital Markets the

0:31:33.360 --> 0:31:36.520
<v Speaker 2>Fed's next meeting October the twenty eighth and twenty ninth,

0:31:36.720 --> 0:31:40.640
<v Speaker 2>and be harder to justify another interest rate cut without

0:31:40.680 --> 0:31:45.520
<v Speaker 2>having the latest government data. Also said, there's private data

0:31:45.560 --> 0:31:49.440
<v Speaker 2>the federal officials can canvas their contacts and at least

0:31:49.520 --> 0:31:52.480
<v Speaker 2>get a sense of what's going on. But it does

0:31:52.560 --> 0:31:56.400
<v Speaker 2>get tougher if you don't have the big aggregate data

0:31:56.520 --> 0:32:00.440
<v Speaker 2>that we tend to depend on. Again, Wired did him

0:32:00.440 --> 0:32:03.400
<v Speaker 2>on that? And why is this so antiquated and so

0:32:03.600 --> 0:32:06.920
<v Speaker 2>out of date? There's got to be a better way. Now.

0:32:06.920 --> 0:32:10.040
<v Speaker 2>What's interesting is they were talking about the government shutdown.

0:32:10.880 --> 0:32:14.240
<v Speaker 2>And what's interesting you can go back to Ronald Reagan.

0:32:15.840 --> 0:32:19.720
<v Speaker 2>During Ronald Reagan's time in office from nineteen eighty to

0:32:19.840 --> 0:32:24.600
<v Speaker 2>nineteen eighty eight, there was one, two, three, four, five, six, seven,

0:32:25.120 --> 0:32:30.760
<v Speaker 2>eight government shutdowns. Interesting that it's during a Republican presidency.

0:32:31.120 --> 0:32:36.040
<v Speaker 2>George H. W. Bush one shutdown, Bill Clinton two shutdowns.

0:32:36.200 --> 0:32:41.400
<v Speaker 2>Barack Obama won Donald Trump in twenty eighteen, and then

0:32:41.520 --> 0:32:45.960
<v Speaker 2>twenty nineteen there were two government shutdowns. Why is it

0:32:46.000 --> 0:32:50.200
<v Speaker 2>that when Republicans are in office, the Democrats decide that

0:32:50.240 --> 0:32:53.480
<v Speaker 2>they're going to shut down the government. Bill Clinton the

0:32:53.520 --> 0:32:57.920
<v Speaker 2>longest one so far. Well, actually up till twenty eighteen,

0:32:57.960 --> 0:33:01.200
<v Speaker 2>twenty nineteen, the government was shut down for twenty one days.

0:33:01.560 --> 0:33:05.440
<v Speaker 2>During the first Trump term, that was shut down by

0:33:05.600 --> 0:33:09.360
<v Speaker 2>for thirty five days. And it appears as though that

0:33:09.440 --> 0:33:14.160
<v Speaker 2>the I don't know. There's talks and whether or not

0:33:14.160 --> 0:33:17.280
<v Speaker 2>they're going to make some sort of an agreement and

0:33:17.280 --> 0:33:20.000
<v Speaker 2>get the government back open, we don't know. But there

0:33:20.400 --> 0:33:24.000
<v Speaker 2>seems to be still some hesitancy on the part of

0:33:24.240 --> 0:33:27.800
<v Speaker 2>Chucky Schumer and the boys to get this done. Seems

0:33:27.840 --> 0:33:31.120
<v Speaker 2>that they like messing up the economy. They don't care

0:33:31.120 --> 0:33:34.040
<v Speaker 2>about the American economy. They don't care about you and me.

0:33:34.360 --> 0:33:36.440
<v Speaker 2>They just care about their power and they feel it

0:33:36.520 --> 0:33:41.960
<v Speaker 2>slipping away. According to ADP last week, and this was

0:33:42.000 --> 0:33:46.320
<v Speaker 2>some dice the information, they indicated the firms shed thirty

0:33:46.320 --> 0:33:50.200
<v Speaker 2>two thousand jobs in September. According to the ADP, payrolls

0:33:50.200 --> 0:33:54.080
<v Speaker 2>in US companies unexpectedly dropped in September due to, at

0:33:54.160 --> 0:33:57.360
<v Speaker 2>least in part two, issues with data analysis. So again

0:33:57.760 --> 0:34:01.680
<v Speaker 2>they're having problems with their data analogy. They don't explain why,

0:34:02.080 --> 0:34:05.760
<v Speaker 2>but with the data analysis that they use, it appears

0:34:05.800 --> 0:34:08.239
<v Speaker 2>as though they use some of the data from the

0:34:08.280 --> 0:34:11.359
<v Speaker 2>federal government, but then they use the data that they

0:34:11.400 --> 0:34:14.160
<v Speaker 2>have on hand because they process payrolls for a bunch

0:34:14.200 --> 0:34:18.560
<v Speaker 2>of company and so with this data analysis lacking, they

0:34:18.600 --> 0:34:21.200
<v Speaker 2>put out a report that says, well, here's what we

0:34:21.280 --> 0:34:24.160
<v Speaker 2>think happened, but we don't know that this is what happened.

0:34:24.360 --> 0:34:28.640
<v Speaker 2>Private sector payrolls decreased by thirty two thousand after revised

0:34:28.800 --> 0:34:33.000
<v Speaker 2>three thousand declined a month earlier. According to ADP, the

0:34:33.040 --> 0:34:36.840
<v Speaker 2>figure was below all estimates in the Bloomberg Survey of economists.

0:34:37.080 --> 0:34:40.480
<v Speaker 2>Now Bloomberg can go out and survey economists, which again

0:34:40.760 --> 0:34:44.400
<v Speaker 2>they're surveying economists, which apparently they don't have their finger

0:34:44.480 --> 0:34:47.239
<v Speaker 2>on the pulls because their numbers are always wrong, but

0:34:47.280 --> 0:34:52.680
<v Speaker 2>they keep reporting them anyway. ADP noted that their benchmark

0:34:52.760 --> 0:34:57.040
<v Speaker 2>their data based on expansive series from the Bureau of

0:34:57.080 --> 0:35:01.640
<v Speaker 2>Labor Statistics called the Quarterly Sense of of Employment and Wages.

0:35:02.480 --> 0:35:06.080
<v Speaker 2>The recalibration resulted in a reduction of forty three thousand

0:35:06.200 --> 0:35:10.879
<v Speaker 2>jobs in September compared to the benchmark data, indicating that

0:35:11.360 --> 0:35:14.120
<v Speaker 2>if it was thirty two thousand and they were expecting

0:35:14.200 --> 0:35:17.560
<v Speaker 2>thirty three thousand, that there was a slight uptick in

0:35:17.600 --> 0:35:22.040
<v Speaker 2>that period as opposed to a decline. And so again

0:35:22.200 --> 0:35:24.840
<v Speaker 2>a lot of these numbers are in flux because the

0:35:24.880 --> 0:35:28.560
<v Speaker 2>federal government is shut down and they're relying on data,

0:35:28.760 --> 0:35:33.000
<v Speaker 2>that is, they are collecting and assuming what would have

0:35:33.080 --> 0:35:36.560
<v Speaker 2>been collected by the federal government. Coming up, we'll talking

0:35:36.560 --> 0:35:38.920
<v Speaker 2>a little bit more about this and some other mischief.

0:35:39.080 --> 0:35:43.000
<v Speaker 2>I'm Kevin Gordon, America's truck a Network seven hundred WLW.

0:35:43.520 --> 0:35:48.680
<v Speaker 10>Run a business and not thinking about podcasting.

0:35:51.320 --> 0:35:57.000
<v Speaker 2>This is america'structing Network, seven hundred WLW and I'm Kevin Gordon.

0:35:57.040 --> 0:35:59.719
<v Speaker 2>By the way, Going back to this ADP report and

0:36:00.040 --> 0:36:02.919
<v Speaker 2>what they reported last week, it's interesting that they break

0:36:02.960 --> 0:36:06.240
<v Speaker 2>this down and this quote, and this is Nila Richardson,

0:36:06.280 --> 0:36:10.400
<v Speaker 2>she's the chief economist at ADP. Despite the strong economic

0:36:10.480 --> 0:36:12.960
<v Speaker 2>growth we saw on the second quarter, Wait a minute,

0:36:13.000 --> 0:36:15.200
<v Speaker 2>I didn't think we were supposed to see economic growth

0:36:15.239 --> 0:36:18.120
<v Speaker 2>this year because of the tariffs and the economic policies,

0:36:18.200 --> 0:36:21.000
<v Speaker 2>the uncertainty of the Trump administration and so on. So

0:36:21.280 --> 0:36:23.879
<v Speaker 2>you know, apparently it didn't happen, and of course they're

0:36:23.920 --> 0:36:27.960
<v Speaker 2>still waiting for it. Nila Richardson, chief economist's ADP. Despite

0:36:28.000 --> 0:36:30.600
<v Speaker 2>the strong economic growth we saw in the second quarter,

0:36:30.800 --> 0:36:34.200
<v Speaker 2>this month's release further validates what we've been seeing in

0:36:34.239 --> 0:36:38.040
<v Speaker 2>the labor market that US employers have been cautious with hiring.

0:36:38.640 --> 0:36:42.200
<v Speaker 2>Really captain obvious the fact that companies are holding back.

0:36:42.239 --> 0:36:45.560
<v Speaker 2>They say they're holding back because they're not sure of

0:36:45.760 --> 0:36:49.120
<v Speaker 2>whether they can expand or not. And if you're expanding,

0:36:49.560 --> 0:36:53.000
<v Speaker 2>then you are going to hire more employees. You are

0:36:53.040 --> 0:36:56.960
<v Speaker 2>going to add on to your building or hire new employees,

0:36:57.239 --> 0:37:00.680
<v Speaker 2>or you're going to add machinery equipment. In the truck industry,

0:37:00.840 --> 0:37:03.360
<v Speaker 2>you're going to be adding trucks to your fleet, or

0:37:03.360 --> 0:37:05.360
<v Speaker 2>if you're an owner operator, you're going to buy a

0:37:05.400 --> 0:37:08.560
<v Speaker 2>new truck or maybe another truck because your business is

0:37:08.560 --> 0:37:13.160
<v Speaker 2>that strong, or all these things. In the housing market,

0:37:13.200 --> 0:37:15.720
<v Speaker 2>people are holding back. They're not jumping into the housing

0:37:15.760 --> 0:37:18.239
<v Speaker 2>market the way they should. And what is based on

0:37:18.320 --> 0:37:21.520
<v Speaker 2>all that all this stuff that we're talking about, expansion

0:37:21.560 --> 0:37:28.040
<v Speaker 2>of businesses, buying equipment, buying trucks, building additions onto businesses,

0:37:28.280 --> 0:37:32.840
<v Speaker 2>it requires financing. And what is the financing. It's based

0:37:32.880 --> 0:37:35.919
<v Speaker 2>on interest and if interest rates are too high, these

0:37:35.960 --> 0:37:38.360
<v Speaker 2>companies are not going to expand they're not going to

0:37:38.400 --> 0:37:42.400
<v Speaker 2>expand just for the sake of expanding. Companies are hanging

0:37:42.440 --> 0:37:45.160
<v Speaker 2>on to their employees more after what they saw during

0:37:45.239 --> 0:37:48.440
<v Speaker 2>the pandemic when they shut their business or were forced

0:37:48.520 --> 0:37:51.960
<v Speaker 2>to shut their businesses down, and when they went back

0:37:52.000 --> 0:37:55.160
<v Speaker 2>to the rehiring effort trying to get the qualified people

0:37:55.239 --> 0:37:58.960
<v Speaker 2>back in, and yet we saw that anybody that went

0:37:59.000 --> 0:38:01.680
<v Speaker 2>out to any kind of any kind of a store

0:38:02.200 --> 0:38:05.560
<v Speaker 2>that you couldn't find a sales clerk. Some of the

0:38:05.600 --> 0:38:10.120
<v Speaker 2>restaurants they were shorthanded on wait staff. And one of

0:38:10.120 --> 0:38:13.960
<v Speaker 2>the restaurants we went to my wife and I right, no,

0:38:14.120 --> 0:38:17.279
<v Speaker 2>probably about a month after the plandemic and people were

0:38:17.320 --> 0:38:20.319
<v Speaker 2>able to get out and about and start going out

0:38:20.320 --> 0:38:23.279
<v Speaker 2>to restaurants. Some of it they mentioned, hey, you know,

0:38:23.680 --> 0:38:27.120
<v Speaker 2>our kitchens a little slow. We had to hire somebody

0:38:27.160 --> 0:38:30.440
<v Speaker 2>who's never cooked before, and so they're looking at the

0:38:30.480 --> 0:38:33.680
<v Speaker 2>recipes and going, okay, I had this, and I had that,

0:38:33.840 --> 0:38:36.280
<v Speaker 2>and I had that. So the kitchen was really slow.

0:38:36.400 --> 0:38:39.840
<v Speaker 2>And they were explaining that upfront, the fact that once

0:38:39.880 --> 0:38:42.600
<v Speaker 2>they get once you lay off these employees, it's very

0:38:42.640 --> 0:38:45.040
<v Speaker 2>difficult to hire them back. Either a lot of them

0:38:45.080 --> 0:38:48.839
<v Speaker 2>stayed on the unemployment because they were making more unemployment

0:38:48.880 --> 0:38:51.280
<v Speaker 2>than they would on the job, or they took another

0:38:51.440 --> 0:38:55.040
<v Speaker 2>job somewhere else when people started hiring, and they went

0:38:55.080 --> 0:38:57.879
<v Speaker 2>there instead of back to their previous employer. So they

0:38:57.880 --> 0:39:01.520
<v Speaker 2>saw that what happened during the pandemic, and afterwards they said, well,

0:39:01.520 --> 0:39:03.520
<v Speaker 2>we're not going to go through that. Again, We're going

0:39:03.600 --> 0:39:06.120
<v Speaker 2>to hang on to our employees as long as we can.

0:39:06.560 --> 0:39:09.719
<v Speaker 2>So that's why you're not seeing massive layoffs. That's why

0:39:09.719 --> 0:39:13.120
<v Speaker 2>you're not seeing any hiring because again people are being

0:39:13.160 --> 0:39:18.440
<v Speaker 2>forced to stall whatever expansion they're doing because of interest rates.

0:39:18.520 --> 0:39:20.640
<v Speaker 2>How they talk about here and again this is going

0:39:20.680 --> 0:39:24.439
<v Speaker 2>back to the ADP report. Payrolls declined in industries such

0:39:24.440 --> 0:39:29.640
<v Speaker 2>as leisure and hospitality, business services, and financial activities, as

0:39:29.719 --> 0:39:34.760
<v Speaker 2>well as goods producing sectors like construction and manufacturing. Education

0:39:35.160 --> 0:39:38.160
<v Speaker 2>and health services was one of the areas to add

0:39:38.200 --> 0:39:41.400
<v Speaker 2>a headcount. Well, you would expect that in September based

0:39:41.440 --> 0:39:44.160
<v Speaker 2>on back to school that people would be going back

0:39:44.200 --> 0:39:47.880
<v Speaker 2>to work at these schools. Midwest was the only major

0:39:48.000 --> 0:39:51.319
<v Speaker 2>US region that shed jobs, and the clients were concentrated

0:39:51.320 --> 0:39:55.360
<v Speaker 2>in businesses were less than five hundred employees. ADP bases

0:39:55.400 --> 0:39:58.840
<v Speaker 2>its findings on payrolls covering more than twenty six million

0:39:59.360 --> 0:40:04.440
<v Speaker 2>US sector employees in their Labor Report. These are workers

0:40:04.480 --> 0:40:08.120
<v Speaker 2>who changed jobs saw a six point six percent increase

0:40:08.160 --> 0:40:13.200
<v Speaker 2>in pay, the lowest in a year. Those who stayed

0:40:13.239 --> 0:40:17.720
<v Speaker 2>on the job saw four point five percent increase. So again,

0:40:17.800 --> 0:40:22.000
<v Speaker 2>staying on the job or moving or switching jobs. Really

0:40:22.120 --> 0:40:24.520
<v Speaker 2>isn't some of the advantages that it had been in

0:40:24.560 --> 0:40:30.839
<v Speaker 2>the past. Looking at another area which is interesting, Use

0:40:30.960 --> 0:40:35.040
<v Speaker 2>truck sales increase for the third straight month in August.

0:40:35.360 --> 0:40:38.319
<v Speaker 2>Use Class eight truck sales increase year over year for

0:40:38.400 --> 0:40:42.480
<v Speaker 2>the third consecutive month in August, according to ACT Research Now.

0:40:42.560 --> 0:40:47.719
<v Speaker 2>ACT Research stands for America's commercial transportation research company. They

0:40:47.800 --> 0:40:51.319
<v Speaker 2>reported a rise of three point five percent from the

0:40:51.400 --> 0:40:55.680
<v Speaker 2>twenty twenty four period. Months to month, the results were

0:40:55.800 --> 0:41:00.720
<v Speaker 2>flat compared to July numbers. The average retail sale decreased

0:41:00.760 --> 0:41:05.680
<v Speaker 2>by point eight percent in the prior year period and

0:41:05.880 --> 0:41:10.439
<v Speaker 2>slipped seven point one percent sequentially from the previous month.

0:41:10.840 --> 0:41:15.440
<v Speaker 2>Average mileage dropped by half a percentage point. That too,

0:41:15.520 --> 0:41:18.959
<v Speaker 2>was flat for the prior compared to the previous month.

0:41:19.520 --> 0:41:23.200
<v Speaker 2>ACT Research Vice president Steve Tam said the eleven percent

0:41:23.440 --> 0:41:26.840
<v Speaker 2>month to month gain was better than expected on a

0:41:26.880 --> 0:41:31.480
<v Speaker 2>seasonally adjusted basis. The auction market turned in a respectable

0:41:31.520 --> 0:41:35.319
<v Speaker 2>performance that was countered to the expected decline, so they

0:41:35.360 --> 0:41:41.160
<v Speaker 2>expected sales to decline but unexpectedly increase. Auction volumes floated

0:41:41.719 --> 0:41:44.400
<v Speaker 2>three point four percent higher, and so on. They go

0:41:44.440 --> 0:41:49.000
<v Speaker 2>through the statistics let me see Act research also found

0:41:49.000 --> 0:41:52.799
<v Speaker 2>that same dealer used retail sales increased for the first

0:41:52.880 --> 0:41:56.320
<v Speaker 2>time in five months. Tam pointed out that it's typically

0:41:56.360 --> 0:42:00.120
<v Speaker 2>the second best sales month of the year, usually running

0:42:00.120 --> 0:42:03.960
<v Speaker 2>more than eight percent above average. They go on to

0:42:04.000 --> 0:42:06.880
<v Speaker 2>talk a little bit about more about even though the

0:42:06.960 --> 0:42:10.560
<v Speaker 2>summer does not officially end until late September, of course

0:42:10.560 --> 0:42:13.360
<v Speaker 2>their reporting period in the first couple of months or

0:42:13.440 --> 0:42:16.480
<v Speaker 2>first couple of weeks of October, you're still gathering that data.

0:42:16.560 --> 0:42:20.880
<v Speaker 2>So that's not all there together right now. Clearly, August

0:42:20.960 --> 0:42:24.040
<v Speaker 2>did not disappoint this year, at least from a unit

0:42:24.120 --> 0:42:29.480
<v Speaker 2>volume perspective. Industry participants should interpret this as a positive sign.

0:42:30.040 --> 0:42:33.440
<v Speaker 2>JD Power noted in a report that pricing decreased at

0:42:33.440 --> 0:42:37.520
<v Speaker 2>the auction and retail channels during August. The report also

0:42:37.560 --> 0:42:41.560
<v Speaker 2>showed that retail sales volume continues to trend higher when

0:42:41.640 --> 0:42:47.080
<v Speaker 2>compared with prior year. Again, if you're looking to add trucks,

0:42:47.280 --> 0:42:50.000
<v Speaker 2>if you're adding trucks to your fleet, do you go

0:42:50.080 --> 0:42:52.560
<v Speaker 2>out and do you buy a brand new truck or

0:42:52.560 --> 0:42:54.839
<v Speaker 2>do you buy a used truck which is a little

0:42:54.880 --> 0:42:57.840
<v Speaker 2>bit less or a lot less than what a brand

0:42:57.880 --> 0:43:00.480
<v Speaker 2>new truck would be because you want to get somewhat

0:43:00.520 --> 0:43:02.839
<v Speaker 2>of a late model truck in order to keep your

0:43:03.200 --> 0:43:06.040
<v Speaker 2>fleet going. And of course, if you're not keeping your

0:43:06.040 --> 0:43:09.960
<v Speaker 2>fleet up to date, you're going to see rising maintenance costs,

0:43:10.239 --> 0:43:12.360
<v Speaker 2>which means that that truck's going to be off the

0:43:12.480 --> 0:43:15.560
<v Speaker 2>road a lot more frequently, and the trucks in the

0:43:15.640 --> 0:43:19.319
<v Speaker 2>shop it ain't producing revenue. So a lot of this

0:43:19.360 --> 0:43:21.320
<v Speaker 2>is good news. Let's take a quick look at the

0:43:21.440 --> 0:43:23.480
<v Speaker 2>oil and gas before we have to get out of here.

0:43:24.040 --> 0:43:28.000
<v Speaker 2>Oil and well, actually, oil prices have jumped up a

0:43:28.040 --> 0:43:32.520
<v Speaker 2>little bit higher today. West Texas intermediate crude currently is

0:43:32.560 --> 0:43:35.160
<v Speaker 2>sixty one dollars and sixty nine cents a barrel. That's

0:43:35.239 --> 0:43:38.040
<v Speaker 2>up eighty one cents or one point three to three percent.

0:43:38.360 --> 0:43:41.320
<v Speaker 2>Brent crude currently sixty five dollars and forty six cents.

0:43:41.520 --> 0:43:44.759
<v Speaker 2>That's up almost a dollar as well, one point four

0:43:44.760 --> 0:43:48.439
<v Speaker 2>to four percent. Now, just since January, since Donald Trump

0:43:48.520 --> 0:43:53.440
<v Speaker 2>took office, West Texas intermediate crud is down fifteen dollars

0:43:53.480 --> 0:43:57.080
<v Speaker 2>and twenty cents a barrel, or twenty percent. Brent crude

0:43:57.120 --> 0:43:59.880
<v Speaker 2>is down fourteen dollars and forty four cents or eight

0:44:00.000 --> 0:44:04.279
<v Speaker 2>eighteen percent. Down just since January, So that's good on

0:44:04.320 --> 0:44:09.040
<v Speaker 2>that department. Looking at current average nationwide average of gasoline,

0:44:09.680 --> 0:44:12.480
<v Speaker 2>current national average is three dollars and thirteen cents a

0:44:12.520 --> 0:44:17.319
<v Speaker 2>gallon compared to and diesel is currently at three dollars

0:44:17.360 --> 0:44:20.719
<v Speaker 2>and sixty eight cents. Now, when you go back to

0:44:20.800 --> 0:44:23.319
<v Speaker 2>a year ago, we are not much changed from a

0:44:23.360 --> 0:44:27.760
<v Speaker 2>year ago. And with oil prices being down twenty percent

0:44:27.920 --> 0:44:32.760
<v Speaker 2>and eighteen percent, respectively, I would have expected, I do expect,

0:44:32.800 --> 0:44:36.560
<v Speaker 2>and I don't understand what gas prices aren't comparably down

0:44:36.960 --> 0:44:41.360
<v Speaker 2>about ten or fifteen percent below than what they are. Again,

0:44:41.560 --> 0:44:44.560
<v Speaker 2>if oil prices are down, that goes into the refinery

0:44:44.920 --> 0:44:48.960
<v Speaker 2>it's being refined. The lower cost going in should equal

0:44:49.040 --> 0:44:52.200
<v Speaker 2>to the lower costs coming out. But we keep hearing

0:44:52.239 --> 0:44:55.480
<v Speaker 2>that all the retooling, that some of these refineries are

0:44:55.520 --> 0:44:58.840
<v Speaker 2>closed for maintenance, or you've got the summer blend, or

0:44:58.880 --> 0:45:01.839
<v Speaker 2>you've got this, that or the other excuse, Whereas it

0:45:02.000 --> 0:45:07.400
<v Speaker 2>appears to me that something is not pushing these prices down. Again,

0:45:07.520 --> 0:45:10.600
<v Speaker 2>if you compare these prices back to twenty twenty, when

0:45:10.680 --> 0:45:13.760
<v Speaker 2>we were energy independent for the first time since nineteen

0:45:13.880 --> 0:45:17.240
<v Speaker 2>forty nine, gasoline was at two dollars and twenty six cents,

0:45:17.400 --> 0:45:20.400
<v Speaker 2>so we were thirty eight percent higher now than we

0:45:20.400 --> 0:45:23.520
<v Speaker 2>were back then. You shave off another fifteen percent from

0:45:23.520 --> 0:45:27.160
<v Speaker 2>that number up above, and we get closer to those numbers.

0:45:27.360 --> 0:45:30.200
<v Speaker 2>So that would be a good thing if that would

0:45:30.239 --> 0:45:35.520
<v Speaker 2>start transferring what oil prices are to the retail sector.

0:45:35.880 --> 0:45:39.160
<v Speaker 2>So again a lot going on. Now. What is going

0:45:39.200 --> 0:45:41.960
<v Speaker 2>on right now is that oil price is increasing a

0:45:42.040 --> 0:45:45.000
<v Speaker 2>little bit because over the weekend OPEC had their meeting

0:45:45.360 --> 0:45:47.960
<v Speaker 2>and they decided that they were going to continue their

0:45:48.080 --> 0:45:50.799
<v Speaker 2>increased output, but it was only going to be one

0:45:50.880 --> 0:45:53.920
<v Speaker 2>hundred and thirty seven thousand barrels per day. However, if

0:45:53.920 --> 0:45:56.319
<v Speaker 2>you compare that back to where they were at the

0:45:56.320 --> 0:45:59.680
<v Speaker 2>beginning of the year, they have increased their volume by

0:45:59.680 --> 0:46:03.279
<v Speaker 2>two point five million barrels per day from what they

0:46:03.280 --> 0:46:06.200
<v Speaker 2>were last year. And you would think that that would

0:46:06.239 --> 0:46:09.240
<v Speaker 2>present a little bit of a glut in the oil markets,

0:46:09.600 --> 0:46:13.759
<v Speaker 2>but that has been eaten up by the increased activity

0:46:14.080 --> 0:46:17.799
<v Speaker 2>and increased usage. So the volumes of the increase in

0:46:17.960 --> 0:46:22.920
<v Speaker 2>oil production, but the inventories aren't going up because the

0:46:23.000 --> 0:46:26.520
<v Speaker 2>economy is strong and people are out driving and using

0:46:26.520 --> 0:46:29.800
<v Speaker 2>that oil so again and buying up that guess well, folks,

0:46:29.800 --> 0:46:31.640
<v Speaker 2>that does it for us. Stay tuned for EDI Radio

0:46:31.760 --> 0:46:35.120
<v Speaker 2>Top of the Hour. I'm Kevin Gordon, America's Trucking Network

0:46:35.360 --> 0:46:40.160
<v Speaker 2>seven hundred WLW News, Traffic and Weather.

0:46:40.760 --> 0:46:45.280
<v Speaker 7>News Radio seven hundred WLW, Cincinnati.

0:46:46.400 --> 0:46:49.680
<v Speaker 8>A new round of US broker talks is underway in

0:46:49.800 --> 0:46:54.200
<v Speaker 8>Egypt on President Trump's plan to end the war in Gaza.

0:46:54.280 --> 0:46:55.359
<v Speaker 2>With your Top of the Hour