WEBVTT - 11-21-25 America's Truckin' Network 0:00:10.360 --> 0:00:13.520 This is America's Trucking Network with Kevin Gordon. 0:00:15.160 --> 0:00:15.840 Welcome aboard. 0:00:16.160 --> 0:00:20.000 Thanks for tuning in on this Friday morning. Who says 0:00:20.040 --> 0:00:23.840 nothing good happens after midnight? Obviously they've not been listening 0:00:23.880 --> 0:00:27.160 to America's Trucking Network. Triple A is out with their 0:00:27.200 --> 0:00:31.240 predictions for the holiday travel time. Triple A projects at 0:00:31.280 --> 0:00:36.080 eighty one point eight million people will travel at least 0:00:36.240 --> 0:00:40.920 fifty miles from home over the Thanksgiving holiday period, which 0:00:41.000 --> 0:00:45.880 runs from Tuesday November twenty fifth to Monday, December the first. 0:00:46.520 --> 0:00:49.840 This year's domestic travel forecast includes an additional one point 0:00:49.880 --> 0:00:55.000 six million travelers compared to last Thanksgiving. That's up two percent, 0:00:55.440 --> 0:00:58.560 So apparently the economy isn't doing as rotten as the 0:00:58.560 --> 0:01:02.280 spoon federcgurgitators and mainstream media would like us to believe. 0:01:02.680 --> 0:01:07.480 Setting a new overall record, Thanksgiving is the single biggest 0:01:07.480 --> 0:01:12.039 holiday for travel compared to other others like Memorial Day 0:01:12.200 --> 0:01:16.920 or July fourth. According to Stacy Barber, vice president of 0:01:17.040 --> 0:01:22.280 Triple A Travel, Thanksgiving travel numbers are always impressive because 0:01:22.360 --> 0:01:25.840 this holiday has become synonymous with heading out of town 0:01:26.160 --> 0:01:29.640 to spend time with loved ones. People are willing to 0:01:29.760 --> 0:01:33.000 brave the crowds and make last minute adjustments to their 0:01:33.040 --> 0:01:37.280 plans to make lifelong memories, whether it's visiting extended family 0:01:37.640 --> 0:01:39.039 or meeting up with friends. 0:01:39.319 --> 0:01:41.400 Now, Hollywood and. 0:01:41.440 --> 0:01:44.480 The people there and some of the shows are always 0:01:44.520 --> 0:01:47.920 trying to make it seem that this is a time 0:01:48.000 --> 0:01:51.560 of confrontation, this is the time of where families don't 0:01:51.360 --> 0:01:55.560 get along. There's a commercial running that just absolutely bugs me. 0:01:56.040 --> 0:02:01.720 And it's a scene of this young girl poking her 0:02:01.760 --> 0:02:04.400 head in the door, opening the door and she hears 0:02:04.440 --> 0:02:07.440 the family members. I wonder who Jackie or whatever her 0:02:07.480 --> 0:02:10.200 name is, is dating now, And she gets this look 0:02:10.240 --> 0:02:12.840 on her face. She shuts the door behind her, and 0:02:12.840 --> 0:02:16.440 then she texts her mom, sorry, flight delayed? Can you 0:02:16.520 --> 0:02:17.800 set aside a plate for me? 0:02:18.080 --> 0:02:18.959 So she would. 0:02:18.840 --> 0:02:23.359 Rather not spend time or bond memories with family members 0:02:23.400 --> 0:02:26.840 simply because somebody may ask her if she's dating anybody. 0:02:27.080 --> 0:02:28.079 I mean, it is a. 0:02:28.240 --> 0:02:31.799 Horrible commercial and a terrible precedent. And then I don't 0:02:31.800 --> 0:02:34.440 even quite honestly, I don't even know what the commercial 0:02:34.520 --> 0:02:37.440 is trying to sell. It's just so irritating to see that. 0:02:37.840 --> 0:02:40.400 And when you see these commercials where just you know, 0:02:41.120 --> 0:02:43.360 in any type of a show they're trying to show 0:02:43.639 --> 0:02:46.560 you put Now. Of course, over the last couple of years, 0:02:46.600 --> 0:02:50.320 we have heard people say, and especially the people with 0:02:50.400 --> 0:02:53.800 Trump derangement syndrome, they say, I can't even deal with 0:02:53.840 --> 0:02:57.160 my family members. I just am so irritated if I 0:02:57.320 --> 0:02:59.919 find out that they voted for Trump and so on. 0:03:00.320 --> 0:03:03.079 What You're the one with the problem, not the other 0:03:03.200 --> 0:03:06.440 family members. Most people don't live in this bubble of 0:03:06.520 --> 0:03:10.320 irritation they deal with. You don't see us on the 0:03:10.400 --> 0:03:14.960 conservative side saying during the Biden administration and during the 0:03:15.440 --> 0:03:18.760 Obama administration that anybody that voted for them, I'm not 0:03:18.800 --> 0:03:21.400 going to associate with them and so on. It's just, 0:03:21.800 --> 0:03:24.919 you know, let it go for a twenty four hour 0:03:25.000 --> 0:03:28.240 period of time, spend time. These are the people that 0:03:28.680 --> 0:03:32.960 are relatives, they're supposed to be your family. Let it 0:03:33.160 --> 0:03:35.640 go for a couple and you know, all these this 0:03:35.760 --> 0:03:38.560 bickering and stuff that you hear that people talk about 0:03:38.720 --> 0:03:42.800 over Thanksgiving is just absolutely ridiculous. It just basically shows 0:03:42.840 --> 0:03:46.400 sometimes the immaturity level of certain people, and the people 0:03:46.440 --> 0:03:49.800 that participate in that or the people that started those 0:03:49.800 --> 0:03:53.600 are the people with the problem. Thanksgiving Travelers by mode 0:03:53.640 --> 0:03:56.960 of transportation by car. TRIPAA projection at least seventy three 0:03:57.000 --> 0:04:00.200 million people will travel by car. That's nearly nine twenty 0:04:00.280 --> 0:04:03.960 percent of the Thanksgiving travelers. An additional one point three 0:04:04.240 --> 0:04:06.840 million people on the road compared to last year. Now 0:04:06.880 --> 0:04:10.880 again that's up two percent. Again, overall travel is up, 0:04:11.520 --> 0:04:13.800 a number of people traveling is up two percent, and 0:04:13.840 --> 0:04:15.800 buy car is going to be up by two percent. 0:04:16.279 --> 0:04:19.000 A warning to all you four wheelers out there that 0:04:19.040 --> 0:04:22.039 are going to be on the highway, remember that when 0:04:22.080 --> 0:04:25.640 you're out driving and you see eighteen wheelers out on 0:04:25.680 --> 0:04:29.400 the road as you are traveling between November twenty fifth 0:04:29.520 --> 0:04:32.640 and December the first when you see these trucks out 0:04:32.680 --> 0:04:35.880 on the road and if they're passing somebody, you know, 0:04:35.880 --> 0:04:38.520 if they're passing another truck and it takes maybe a 0:04:38.560 --> 0:04:41.599 mile or so before you can get around them. Have 0:04:42.000 --> 0:04:45.720 some patients realize the fact that you're out having fun, 0:04:46.279 --> 0:04:46.840 You're on. 0:04:46.760 --> 0:04:50.239 Your way to visit relatives. They are on the job. 0:04:50.760 --> 0:04:53.839 They are on their way to the stores delivering the 0:04:53.880 --> 0:04:58.920 stuff so that you can have your Thanksgiving celebration, and 0:04:59.440 --> 0:05:02.440 so that on Black Friday, the Storre's shelves will be 0:05:02.520 --> 0:05:05.760 full and the stuff that you can buy. Also, they 0:05:05.800 --> 0:05:09.320 are in the process of transporting the various goods and 0:05:09.360 --> 0:05:12.520 services for everything, the goods that are going to be 0:05:12.600 --> 0:05:17.320 there for Cyber Monday, that Monday after Thanksgiving. So realize 0:05:17.320 --> 0:05:20.520 that they are not home with their families, they are 0:05:20.520 --> 0:05:24.000 not enjoying the Thanksgiving holidays because they're out on the 0:05:24.080 --> 0:05:27.919 road making your Thanksgiving and your holiday possible. 0:05:28.320 --> 0:05:28.640 Again. 0:05:29.080 --> 0:05:32.000 Seventy two percent of everything out on the shelves is 0:05:32.040 --> 0:05:34.520 brought to you by a truck. And when you add 0:05:34.520 --> 0:05:37.520 into consideration that all the other items that may not 0:05:37.640 --> 0:05:40.720 necessarily be delivered by a truck, somewhere along the line, 0:05:40.880 --> 0:05:44.240 almost one hundred percent of everything you touch has been 0:05:44.400 --> 0:05:48.039 has touched a truck. And when you take into consideration, 0:05:48.400 --> 0:05:51.320 as was pointed out to me at match this past March, 0:05:51.800 --> 0:05:56.279 that you don't realize the number of other things other 0:05:56.360 --> 0:05:59.800 than what's on the shelf. The sheets, the medicine, the 0:06:00.040 --> 0:06:03.640 stuff that's all at the hospital are there are brought 0:06:03.680 --> 0:06:06.320 by a truck. When you look at the supplies, the 0:06:07.040 --> 0:06:11.000 cleaning supplies and stuff, the janitorial stuff for office buildings, 0:06:11.560 --> 0:06:15.200 for that kind of stuff that's not on the retail shelves, 0:06:15.240 --> 0:06:18.520 but that has been brought to the location or to 0:06:18.600 --> 0:06:21.840 the warehouse the wholesaler buy a truck. So when you 0:06:21.880 --> 0:06:25.320 add all that in, there is a ton of stuff 0:06:25.400 --> 0:06:28.960 mop more than tons and tons of stuff that has 0:06:29.000 --> 0:06:30.960 brought to you by a truck. So have a little 0:06:30.960 --> 0:06:34.920 bit of respect. Realize that a truck has a longer 0:06:35.200 --> 0:06:39.360 stopping capability or capacity than what you have. You can 0:06:39.480 --> 0:06:41.719 on in a car can pretty much stop on a 0:06:41.760 --> 0:06:46.760 drunk dime. A truck hauling a large load takes a 0:06:46.800 --> 0:06:50.720 long period of time for them to stop. And if 0:06:50.760 --> 0:06:53.720 you notice out on the highways that you're in traffic 0:06:53.839 --> 0:06:56.599 and things are slowed down, there's generally a lot of 0:06:56.600 --> 0:06:59.960 space between the truck and the car in front of them, 0:07:00.279 --> 0:07:03.040 and people have a tendency of cutting in there. I'm 0:07:03.120 --> 0:07:04.919 kind of a mixed on this because if you're at 0:07:04.960 --> 0:07:08.480 a slow speed, that's not a big deal. But if 0:07:08.480 --> 0:07:11.880 you're on the highway and you're traveling at sixty miles 0:07:11.920 --> 0:07:16.240 an hour and there's not much room between the truck 0:07:16.440 --> 0:07:20.000 and you're trying to cut in between them, you're asking 0:07:20.080 --> 0:07:23.000 for trouble because if something slows down, the truck is 0:07:23.000 --> 0:07:24.600 not going to have enough space to stop. 0:07:24.880 --> 0:07:26.640 And stay out of their blind spots. 0:07:27.280 --> 0:07:29.119 Just kind of a little bit of word of caution 0:07:29.240 --> 0:07:34.400 there again, looking at this travel survey from TRIPAA and 0:07:34.480 --> 0:07:36.320 some of the stuff that they're talking about. 0:07:36.880 --> 0:07:38.679 Let's see, let's go through some of this stuff. 0:07:38.720 --> 0:07:43.800 Here a warning in here that thirty five percent of 0:07:43.920 --> 0:07:50.720 all fatalities in crashes involving alcohol or all other fatalities 0:07:51.000 --> 0:07:55.920 occur over the Thanksgiving week, So thirty five percent of 0:07:56.040 --> 0:07:59.960 all traffic fatalities in the United States happened during that period. 0:08:00.600 --> 0:08:04.239 Take your time, be cautious, take it a little slower. 0:08:04.480 --> 0:08:06.840 You don't have to set the land speed record from 0:08:06.880 --> 0:08:10.880 one destination to another. Be safe out on the highway 0:08:11.080 --> 0:08:14.240 and get there safely. You don't want that as part 0:08:14.320 --> 0:08:18.200 of the people thinking about Thanksgiving for the rest of 0:08:18.240 --> 0:08:21.000 their lives. Oh that's the week that so and so 0:08:21.160 --> 0:08:24.240 died because they were out on the highway. Airfare they're 0:08:24.240 --> 0:08:26.520 talking about six million people will be traveling. 0:08:26.720 --> 0:08:26.920 Now. 0:08:27.040 --> 0:08:31.240 My rule of thumb is that if your travel destination 0:08:31.680 --> 0:08:35.080 is more or less than five hours by car, in 0:08:35.160 --> 0:08:38.960 my opinion, I would much rather drive because by the 0:08:39.000 --> 0:08:41.920 time you take into consideration, you have to factor this in, 0:08:42.080 --> 0:08:44.640 you know, just add it up however long it takes 0:08:44.679 --> 0:08:47.400 you to drive from your house to the airport. They 0:08:47.400 --> 0:08:50.240 suggest you get to the airport two hours ahead of time, 0:08:50.480 --> 0:08:53.480 which gives you time to check your bags, get into 0:08:53.480 --> 0:08:55.880 the terminal, do your boarding pass, and of course you 0:08:55.880 --> 0:08:58.000 can do your boarding pass ahead of time. You can 0:08:58.040 --> 0:09:01.000 actually print that out at home and hopefully it will 0:09:01.040 --> 0:09:04.200 work there at the airport. But then, of course, the 0:09:04.200 --> 0:09:07.720 flight time, depending upon where you're going. Flight times to Chicago, 0:09:07.840 --> 0:09:10.240 I think from Cincinnati is something like an hour and 0:09:10.280 --> 0:09:13.480 fifteen minutes. Down in Nashville's about an hour, So you 0:09:13.520 --> 0:09:16.600 got to figure the in your factor in the flight time. 0:09:17.080 --> 0:09:19.680 Then once you get to the airport, getting your bags, 0:09:19.720 --> 0:09:22.640 getting off the plane, finding an uber or getting to 0:09:22.920 --> 0:09:25.200 where you've got your car rental, and then getting in 0:09:25.200 --> 0:09:27.680 the car, and then the travel time from the airport 0:09:27.880 --> 0:09:29.240 to your actual destination. 0:09:29.520 --> 0:09:31.720 Plus you have the flexibility. 0:09:30.960 --> 0:09:33.120 Once you're there is that you have a car at 0:09:33.160 --> 0:09:35.600 your disposal if you want to go make some trips 0:09:35.600 --> 0:09:38.080 and do a road trip or drive around the area 0:09:38.120 --> 0:09:39.600 and see the sights and that type of thing. 0:09:39.679 --> 0:09:40.760 So rule the thumb. 0:09:40.800 --> 0:09:43.320 If it's less than five hours, I'd much prefer to drive. 0:09:43.400 --> 0:09:46.000 So that's my two cents worth. Oh, I can't do 0:09:46.080 --> 0:09:48.840 that anymore because we're running out of pennies. I'm Kevin Gordon, 0:09:48.880 --> 0:09:52.280 America's truck In Network, seven hundred WLW. 0:09:53.320 --> 0:09:53.719 I love. 0:09:53.840 --> 0:09:57.200 This is the reathing report on America's Trucking Network on 0:09:57.360 --> 0:09:58.840 seven hundred WLW. 0:09:59.600 --> 0:10:02.160 Looking at head to the racing weekend, Formula One holds 0:10:02.200 --> 0:10:05.400 the Las Vegas Grand Prix on Sunday, Lando Norris has 0:10:05.440 --> 0:10:07.719 three hundred and ninety points and leads the battle for 0:10:07.800 --> 0:10:10.400 the world championship with three races to go. 0:10:10.960 --> 0:10:13.520 Obviously, always trying to win. It's always sweeter when you 0:10:13.760 --> 0:10:15.480 end up on the podium where you can win the race. 0:10:15.480 --> 0:10:17.439 It's it's always a better feeling because that's what that's 0:10:17.480 --> 0:10:19.920 what we'll want. So it's been a good few races 0:10:19.960 --> 0:10:23.960 recently and it's it is hard at times, I think 0:10:23.960 --> 0:10:26.120 when when you're fighting and you're in the position that 0:10:26.160 --> 0:10:27.880 we're in at the moment as a team, you know, 0:10:27.960 --> 0:10:32.120 between Oscar and myself to sometimes like step back and 0:10:32.920 --> 0:10:34.559 realize what you're you're doing. 0:10:34.640 --> 0:10:37.480 In second place in the standings as Norris as McLaren 0:10:37.559 --> 0:10:41.000 teammate Oscar Piastre, he is twenty four points back. 0:10:41.480 --> 0:10:44.560 You know my expectation and for myself is to try 0:10:44.600 --> 0:10:46.280 and perform at the same level, but that's not always 0:10:46.280 --> 0:10:50.160 a guarantee, and I know that it can also just 0:10:50.240 --> 0:10:53.840 change very quickly. You know, whether it's because you get 0:10:53.920 --> 0:10:56.880 unlucky or whether you're not performing at the perfect level 0:10:56.920 --> 0:10:59.880 and the guys I'm up against can perform at the 0:11:00.240 --> 0:11:02.880 high level. Things can change for eas at least, never 0:11:03.320 --> 0:11:05.760 the nicest feeling to see your lead disappear. 0:11:05.920 --> 0:11:08.839 Reigning world champion Max vers staff and trails Norris by 0:11:08.880 --> 0:11:12.120 forty nine points in third place in a situation he 0:11:12.240 --> 0:11:13.040 is not used to. 0:11:13.280 --> 0:11:15.000 I mean, it's a lot of points, so I'm not 0:11:15.040 --> 0:11:18.400 really thinking about it too much because there's also not 0:11:18.480 --> 0:11:19.520 much that I can do. 0:11:20.000 --> 0:11:22.360 We need a lot of luck now till the end. 0:11:22.840 --> 0:11:26.800 To even have an opportunity, so I personally, I don't 0:11:26.800 --> 0:11:27.360 think about that. 0:11:28.200 --> 0:11:28.760 I do this. 0:11:28.960 --> 0:11:32.040 He is the breathing reward on America's Druging Network on 0:11:32.200 --> 0:11:36.360 seven hundred WLW, Everybody have a Safe and Happy Weekend. 0:11:36.520 --> 0:11:39.480 Sag Dennison a t N. 0:11:40.280 --> 0:11:42.440 A decade ago, I was on the trail of one 0:11:42.440 --> 0:11:45.400 of the country's most elusive serial killers, but it wasn't 0:11:45.480 --> 0:11:50.280 until twenty twenty three when he was finally caught WLW. 0:11:50.480 --> 0:11:52.880 Well, now that the government shutdown, this is over. 0:11:53.320 --> 0:11:56.320 The Bureau of Labor Statistics are out with their initial 0:11:56.400 --> 0:11:59.079 jobless claims. This is the first time in what about 0:11:59.360 --> 0:12:03.920 six seven weeks, But anyway, during the period of the shutdown, 0:12:03.960 --> 0:12:06.439 the forty three days shutdown, so divide that, well, it's 0:12:06.440 --> 0:12:07.600 about seven weeks, isn't it. 0:12:07.880 --> 0:12:08.120 Okay? 0:12:08.240 --> 0:12:10.600 So the seven weeks we've been out with this out, 0:12:10.960 --> 0:12:13.280 we have not had this report, is what I am 0:12:13.320 --> 0:12:16.160 trying to say. Number of Americans finally for new applications 0:12:16.160 --> 0:12:20.400 for unemployment benefits fell last week, but more out of 0:12:20.440 --> 0:12:23.240 the work. Wait a minute, but more out of work. 0:12:23.280 --> 0:12:28.199 People are struggling to find new opportunities amid a week hiring. Again, 0:12:28.280 --> 0:12:33.599 we're still in that phase of no hire, no fire situation, 0:12:33.840 --> 0:12:37.319 so people aren't getting fired at a regular basis, and 0:12:37.360 --> 0:12:41.920 they're not hiring employees again because Lion Jerry Powell and 0:12:42.000 --> 0:12:44.880 the Federal Reserve are not really lowering interest rates and 0:12:45.000 --> 0:12:48.320 it's cost too much to expand businesses, and people are 0:12:48.360 --> 0:12:51.360 in a wait and see situation to see how things 0:12:51.400 --> 0:12:53.560 are going to be going. As far as you know, 0:12:53.640 --> 0:12:57.440 any type of expansion. The sales numbers are good, the 0:12:57.480 --> 0:13:00.960 traffic flow is good, all the other economic numbers are good. 0:13:01.120 --> 0:13:04.320 It's just this wait and see situation and businesses wanting 0:13:04.360 --> 0:13:07.880 to expand and wanting to get their business stronger. Initial 0:13:07.880 --> 0:13:11.640 claims for state unemployment benefits dropped eight thousand to a 0:13:11.760 --> 0:13:14.760 seasonally adjusted two hundred and twenty thousand for the week 0:13:14.920 --> 0:13:19.040 ended November fifteenth, Labor Department set on Thursday. The Labor 0:13:19.080 --> 0:13:23.040 Department resumed publishing the weekly claims reporting following the end 0:13:23.040 --> 0:13:28.240 of the forty three day record setting government shutdown. Economists 0:13:28.280 --> 0:13:32.240 polled by Reuters had forecasts that the unemployment rate would 0:13:32.280 --> 0:13:36.240 be two hundred and thirty thousand, so they missed that 0:13:36.320 --> 0:13:40.319 by about ten thousand. And you know, every time I 0:13:40.400 --> 0:13:44.920 hear the phrase economists always reminds me an economist is 0:13:44.920 --> 0:13:48.040 an expert who will know tomorrow why the things he 0:13:48.120 --> 0:13:50.880 predicted yesterday didn't happen today. 0:13:51.320 --> 0:13:52.720 And that's so true when. 0:13:52.520 --> 0:13:54.880 We see some of these reports coming out of some 0:13:54.960 --> 0:13:59.040 of the reports from economists that are so far off. 0:13:59.120 --> 0:14:02.000 But again, Bureau of Labor Statistics said on Wednesday, the 0:14:02.080 --> 0:14:06.720 data collected period established and household surveys would be extended. 0:14:07.000 --> 0:14:12.400 The extra processing time added BLS canceled the October unemployment number. 0:14:12.679 --> 0:14:15.960 So whether the unemployment number went up from four point 0:14:16.160 --> 0:14:20.480 three or four point two percent, where that unemployment number is, 0:14:20.720 --> 0:14:23.240 we don't know that for October, and we won't know 0:14:23.360 --> 0:14:26.760 that until next month. Let's see the longest let me 0:14:26.760 --> 0:14:28.080 see where. 0:14:27.880 --> 0:14:28.320 Was I here? 0:14:28.520 --> 0:14:32.240 Bureau Labor Statistics said on Wednesday, repeat that comment that 0:14:32.280 --> 0:14:34.680 the data collection period for the establishment of the household 0:14:34.680 --> 0:14:39.360 surveys would be extended the extra processing time added. BLS 0:14:39.560 --> 0:14:44.400 canceled October's unemployment report because the longest shutdown in history 0:14:44.600 --> 0:14:48.400 prevented data collection for the household survey from which the 0:14:48.520 --> 0:14:53.800 unemployment rate is calculated. October's non FORIGM payroll data will 0:14:53.840 --> 0:14:58.920 be released together with November's employment report on December sixteenth. 0:14:59.200 --> 0:15:02.440 The unemployed a rate for October will. 0:15:02.280 --> 0:15:03.480 Never be known. 0:15:05.080 --> 0:15:08.760 Okay, you know what it was in September, You're gonna 0:15:08.800 --> 0:15:13.720 know what it was in November. So October, there were 0:15:13.840 --> 0:15:17.360 predictions from various organizations that I think it was the 0:15:17.400 --> 0:15:20.680 Saint Louis FED came up with a number some of 0:15:20.720 --> 0:15:24.760 these other economists with the either Goldman Sachs or JP 0:15:24.960 --> 0:15:27.560 Morgan or some of these other companies have come up 0:15:27.640 --> 0:15:30.760 with they thought was the unemployment rate, and they said 0:15:30.760 --> 0:15:33.160 it was around four point three. I saw one that 0:15:33.200 --> 0:15:35.520 said it may have been four point four. But you know, 0:15:37.240 --> 0:15:40.240 you look at the weekly jobless rate and the weekly 0:15:40.360 --> 0:15:45.200 job weekly jobless claims have not gone up considerably. They 0:15:45.240 --> 0:15:49.240 have actually willed this past week actually fell So if 0:15:49.280 --> 0:15:54.160 you're not having large swaths of unemployment on a weekly basis, 0:15:54.600 --> 0:15:58.000 chances are you're not going to have a large unemployment 0:15:58.120 --> 0:16:01.120 number over a period of time or for that particular month. 0:16:01.280 --> 0:16:07.120 There have been no large scale layoffs, especially reflected in there. 0:16:07.160 --> 0:16:09.720 And remember the story we were talking about the other day, 0:16:10.760 --> 0:16:13.400 and there was a key paragraph in there. They said, 0:16:13.400 --> 0:16:15.680 when you look at some of these reports from so 0:16:15.920 --> 0:16:19.720 called experts, they are not shown over the years to 0:16:19.800 --> 0:16:25.400 be very reliable. Concentrate on the current month, current data available, 0:16:25.720 --> 0:16:28.160 and that will be a better gauge. And again, if 0:16:28.720 --> 0:16:31.440 you look at the unemployment of the initial jobless claims, 0:16:31.560 --> 0:16:34.640 which have been between two hundred and ten thousand and 0:16:34.800 --> 0:16:38.760 up to two hundred and fifty thousand over a couple 0:16:38.800 --> 0:16:41.800 of years now actually the last year and a half thereabouts, 0:16:42.760 --> 0:16:46.320 at two hundred and twenty thousand. We are right smack 0:16:46.400 --> 0:16:48.720 dab in the middle of that good range there, two 0:16:48.800 --> 0:16:51.320 hundred and ten actually to the lower end two hundred 0:16:51.360 --> 0:16:54.360 ten to two hundred and fifty thousand, so where people 0:16:54.360 --> 0:16:56.920 are thinking, oh, well, you know, we will never know 0:16:57.000 --> 0:17:00.360 what the unemployment rate for October was. The number of 0:17:00.400 --> 0:17:03.960 people receiving unemployment benefits after an initial a week of 0:17:04.040 --> 0:17:08.800 aid by a proxy for hiring increase twenty eight thousand 0:17:08.880 --> 0:17:13.240 to a seasonally adjusted one point nine seven four million 0:17:13.359 --> 0:17:17.120 during the week, again not up very high. What will 0:17:17.160 --> 0:17:21.359 matter then is the labor participation rate. How many people 0:17:21.680 --> 0:17:25.399 have dropped out of the market. There are some people 0:17:25.800 --> 0:17:29.080 people in middle aged that may be retiring, so they 0:17:29.080 --> 0:17:32.760 are not part of the unemployment figures. Other people that 0:17:32.960 --> 0:17:36.360 just stop looking for whatever reason. I don't know what 0:17:36.400 --> 0:17:40.040 they're living off of. But again, it's a situation where 0:17:40.359 --> 0:17:44.120 you're not seeing these major fluctuations, so you shouldn't expect 0:17:44.119 --> 0:17:48.000 to see that unemployment go up very substantially, and so 0:17:48.160 --> 0:17:51.240 this handwringing that we won't know what that number is 0:17:51.280 --> 0:17:55.440 for October is kind of ridiculous. October existing home sales 0:17:56.040 --> 0:17:59.840 see a small gain, but supply is dropping that's kind 0:17:59.880 --> 0:18:03.879 of interesting. Improving mortgage rates at the end of the 0:18:03.880 --> 0:18:07.639 summer boosted home sales, but that gain, like may be 0:18:07.880 --> 0:18:12.800 short lived. Sales of previous previously owned homes in October 0:18:13.080 --> 0:18:17.000 rose one point two percent from September to four point 0:18:17.040 --> 0:18:20.879 one million units on a seasonally adjusted annualized basis. 0:18:21.000 --> 0:18:22.280 According to the National. 0:18:21.960 --> 0:18:27.200 Association Realtors, sales year over a year aren't up one 0:18:27.280 --> 0:18:30.199 point seven percent year over year. Now, we had that 0:18:30.280 --> 0:18:33.080 story yesterday, and remember I was talking about that that 0:18:33.560 --> 0:18:37.320 you know that what is the story was like fifty 0:18:37.359 --> 0:18:41.479 three percent of homes in the United States have lost 0:18:41.640 --> 0:18:45.400 value over the last year, and you know, it made 0:18:45.480 --> 0:18:48.000 it seem like this was something drastic, that we were 0:18:48.000 --> 0:18:50.440 in some sort of a housing crisis like we were 0:18:50.720 --> 0:18:53.280 back in two thousand and eight that really didn't resolve 0:18:53.280 --> 0:18:59.000 itself during the Great Recession until about twenty twelve. But 0:18:59.600 --> 0:19:02.920 this is a correction, as they've been talking about, a 0:19:02.960 --> 0:19:06.880 return to normalization. Because when you're in these hot markets 0:19:06.920 --> 0:19:11.720 like Orlando, Tampa, a lot of cities in the South 0:19:12.040 --> 0:19:14.640 and in some of the more resort areas, that's where 0:19:14.680 --> 0:19:17.679 a lot of people flock to during the pandemic. Because 0:19:17.720 --> 0:19:22.119 if they were working from home again, still getting a paycheck. Basically, 0:19:22.359 --> 0:19:24.159 if you're allowed to work from home and you're not 0:19:24.200 --> 0:19:26.080 going to be called back in the office, you can 0:19:26.119 --> 0:19:30.240 work from anywhere. And so people were choosing to move 0:19:30.400 --> 0:19:32.960 and to buy homes in these areas, which when you 0:19:33.080 --> 0:19:35.639 flock to a particular area, when a lot of people 0:19:35.680 --> 0:19:39.600 go in, the demand goes up and the supply may 0:19:39.640 --> 0:19:42.640 not be there, so that would increase those home prices. 0:19:42.880 --> 0:19:44.480 And so now what we're seeing is kind of a 0:19:44.560 --> 0:19:47.040 leveling off of that and kind of pulling back down. 0:19:47.359 --> 0:19:49.560 But the number of people in that report that they 0:19:49.600 --> 0:19:52.080 talked what we talked about yesterday and covered very well 0:19:52.080 --> 0:19:55.120 on this program, I might add, is the fact that 0:19:55.840 --> 0:19:59.320 very few people are actually underwater, that their home is 0:19:59.359 --> 0:20:02.600 now value less than what their mortgage was is. And 0:20:02.760 --> 0:20:05.720 that's one of the problems we saw during the Great Recession, 0:20:06.040 --> 0:20:09.280 where home values in some areas, even in my area 0:20:09.400 --> 0:20:12.760 in northern Kentucky actually dropped, of course the board about 0:20:12.840 --> 0:20:15.919 forty percent. So people that had bought homes within the 0:20:16.000 --> 0:20:19.440 last for the couple of years before that actually found 0:20:19.440 --> 0:20:23.960 themselves underwater. Fortunately, the banks looked at that and said, well, 0:20:24.119 --> 0:20:26.560 you know, normally what we'd have to do is we'd 0:20:26.640 --> 0:20:29.480 have to ask for more equity or pay more down 0:20:29.720 --> 0:20:32.000 and people would not be able to stay in that house. 0:20:32.200 --> 0:20:36.000 But so many people were in that situation, so I 0:20:36.040 --> 0:20:38.640 think they well pretty much at the time, they did 0:20:38.680 --> 0:20:41.120 it on a case by case basis. If people were 0:20:41.119 --> 0:20:44.480 making their mortgages, they weren't likely to ask for more money, 0:20:44.760 --> 0:20:47.919 realizing that the thing would eventually turn around and the 0:20:47.960 --> 0:20:51.600 values would come back. So again, there's very few homes 0:20:51.640 --> 0:20:54.199 at this point in time that are underwater, and so 0:20:54.760 --> 0:20:57.879 people you know, just you know. And in that report 0:20:57.920 --> 0:21:00.680 also yesterday, we talked about that from the last time, 0:21:01.760 --> 0:21:06.760 on average, the number when homes were previously sold to 0:21:06.760 --> 0:21:10.959 today are up about sixty seven percent. So what they 0:21:11.000 --> 0:21:13.720 pointed out is that if the prices came down two 0:21:14.000 --> 0:21:17.360 three four percent, you're still way ahead. If your home 0:21:17.480 --> 0:21:20.480 value went up sixty seven percent over that period of time. 0:21:20.680 --> 0:21:23.520 Talk a little bit more about this story October. Existing 0:21:23.520 --> 0:21:26.399 home sales will see a small gain, but the supply 0:21:26.560 --> 0:21:32.800 is dropping. I'm Kevin Gordon. America's truck neckwork seven hundred WLW. 0:21:32.080 --> 0:21:34.600 Forecast for the Try State and the rest of the country. 0:21:34.680 --> 0:21:37.160 In the Try State, overnight Claudie with rain the low 0:21:37.200 --> 0:21:41.320 down to forty seven rain continuing Friday, a high fifty eight. Saturday, 0:21:41.359 --> 0:21:44.040 mostly claude skies to begin, then gradually becoming sunny, a 0:21:44.160 --> 0:21:49.000 high a fifty three sunshine Sunday highs into the upper fifties. Nationally, 0:21:49.040 --> 0:21:51.960 heavy rain moving out of the southern plains overnight through Saturday. 0:21:52.000 --> 0:21:54.400 Additional heavy rainfall and a thread of flash flooding will 0:21:54.400 --> 0:21:58.359 be seen for southern California, western Arizona, and southern Nevada, 0:21:58.400 --> 0:22:01.320 along the Gulf Coast, across the over Mississippi Valley and 0:22:01.359 --> 0:22:04.080 into the southeast. Record warm temperatures continuing. 0:22:07.560 --> 0:22:11.480 Seven hundred wlw IM Kevin Gordon. This is America struck 0:22:11.520 --> 0:22:14.560 In Network. We're talking about this story. October. Existing home 0:22:14.600 --> 0:22:18.719 sales seed small gain, but supply is dropping. We were 0:22:18.760 --> 0:22:22.840 talking about how the home prices are. Sales were up 0:22:22.960 --> 0:22:26.199 one point seven percent year over year. The count is 0:22:26.200 --> 0:22:30.280 based on home closing, so contracts likely signed in August 0:22:30.280 --> 0:22:34.080 and September. While contract signings would not be impacted by 0:22:34.119 --> 0:22:36.600 the government shutdown blah blah blah, they go into that 0:22:36.640 --> 0:22:39.680