WEBVTT - 1-8-26 America's Truckin' Network 0:00:05.240 --> 0:00:08.360 This is America's Trucking Network with Kevin Gordon. 0:00:09.800 --> 0:00:10.400 Lulaable. 0:00:10.840 --> 0:00:15.200 Thanks for tuning in on this Thursday morning. Well, the 0:00:15.920 --> 0:00:20.320 twenty twenty six is off to a great start. If 0:00:20.360 --> 0:00:23.599 you look at what is going on in the oil sector, 0:00:23.720 --> 0:00:27.200 when you look at what's going on manufacturing, service sector, 0:00:27.640 --> 0:00:31.280 everything across the board, things are pointing in the right direction. 0:00:31.720 --> 0:00:34.840 We got some private payroll numbers which are two days 0:00:34.840 --> 0:00:39.640 ahead of what the other jobs report from the US 0:00:39.720 --> 0:00:42.239 government is going to be coming out later on in 0:00:42.280 --> 0:00:47.880 the week. But private payrolls, according to ADP, payrolls rose 0:00:48.000 --> 0:00:52.880 forty one thousand, slightly below expectations. Private sector job creation 0:00:53.000 --> 0:00:57.840 turned positive in December, though a bit softer paced than expected. 0:00:58.160 --> 0:01:03.480 Payroll processing firm ads reported on Wednesday companies added a 0:01:03.520 --> 0:01:07.880 forty one thousand hires for the month, a reversal from 0:01:07.920 --> 0:01:12.080 a loss of twenty nine thousand in November, providing a 0:01:12.160 --> 0:01:15.800 positive sign for a labor market that otherwise struggled. 0:01:15.840 --> 0:01:18.640 As twenty twenty five came to a close. 0:01:18.720 --> 0:01:21.880 Private company payrolls had declined in three of the four 0:01:21.920 --> 0:01:25.880 months prior to December. Final tally was slightly less than 0:01:25.920 --> 0:01:30.800 the dal Jones' consensussessment of forty one thousand, So their 0:01:30.920 --> 0:01:34.000 numbers and their estimates were off by fifteen percent, which 0:01:34.040 --> 0:01:38.160 is they say slightly, but fifteen percent is a significant difference, 0:01:38.160 --> 0:01:41.640 but it's still in the positive range, up forty one 0:01:41.640 --> 0:01:44.720 thousand instead of forty eight that they had expected. Payroll 0:01:44.800 --> 0:01:49.800 growth came entirely in service industries, as education and health 0:01:49.840 --> 0:01:54.680 related fields added thirty nine thousand jobs. Leisure and hospitality 0:01:54.800 --> 0:01:56.520 contributed to twenty four thousand. 0:01:56.960 --> 0:01:58.280 Let me stop right there. 0:01:58.880 --> 0:02:05.240 If you're adding jobs in the hospitality and leisure, that 0:02:05.400 --> 0:02:11.519 means that people are out. Hospitality and leisuring to put 0:02:11.520 --> 0:02:15.120 it like that, but people are out traveling, People are 0:02:15.160 --> 0:02:19.480 out going to motels, hotels, They are going out and 0:02:19.520 --> 0:02:25.399 spending money on dinners, going out, and included in hospitality 0:02:25.400 --> 0:02:27.840 would be if you're going to movies, if you're going 0:02:27.880 --> 0:02:30.920 to plays, if you're going to different sporting events. That's 0:02:30.919 --> 0:02:35.840 all considered hospitality. So the consumer is continuing to spend. 0:02:36.240 --> 0:02:41.040 We are still expanding that area. Therefore, these companies are 0:02:41.120 --> 0:02:45.040 adding employees to accommodate the business that they're having. Trade 0:02:45.040 --> 0:02:49.520 transportation utilities gained eleven thousand, which is good because in 0:02:49.560 --> 0:02:53.560 the transportation industry. That means more stuff is moving, more 0:02:53.600 --> 0:02:55.959 people are out on the road. As I talked about 0:02:56.240 --> 0:02:59.880 coming back from Nashville back in the mid December, the 0:03:00.200 --> 0:03:02.240 number of trucks that I saw out on the highway 0:03:02.240 --> 0:03:05.520 there I mentioned at the time, it was just absolutely incredible. 0:03:05.560 --> 0:03:09.680 So kind of contrary to what all these economists were 0:03:09.720 --> 0:03:13.080 saying about, Oh, you know, we don't think the Christmas 0:03:13.120 --> 0:03:15.040 season is going to be very good. People are going 0:03:15.120 --> 0:03:17.320 to be holding back, people are gonna be No. They 0:03:17.320 --> 0:03:19.360 didn't hold back, well, they held back a little bit 0:03:19.400 --> 0:03:23.200 depending upon where you look. The total number amount of 0:03:23.200 --> 0:03:27.440 money spent was up. They just spent it in different places. 0:03:27.600 --> 0:03:31.200 They spent on more valued type items as opposed to 0:03:31.320 --> 0:03:35.440 more luxury items, which in the final analysis, the stuff 0:03:35.440 --> 0:03:38.000 that you use on a regular basis, the more practical 0:03:38.040 --> 0:03:41.280 stuff that you buy, is a lot more important sometimes 0:03:41.440 --> 0:03:44.080 than some of the stuff that you may use only 0:03:44.280 --> 0:03:46.880 once in a blue moon type of thing. And so 0:03:47.240 --> 0:03:50.200 when people are shifting around, and you know, we have 0:03:50.360 --> 0:03:55.280 had major recessions back in the mid nineties, remember the 0:03:55.640 --> 0:03:58.560 dot com bust. You know, everything was going to you know, 0:03:58.600 --> 0:04:01.440 the Internet and everything was developing as far as the 0:04:01.640 --> 0:04:04.400 dot coms, and then all of a sudden, that part 0:04:04.400 --> 0:04:08.120 of the economy just absolutely collapsed. Then you fast forward 0:04:08.160 --> 0:04:11.480 into two thousand and eight, two thousand and seven, two 0:04:11.520 --> 0:04:14.320 thousand and five, we had this housing bubble. We had 0:04:14.320 --> 0:04:16.680 a lot of things going in in terms of subprime 0:04:16.760 --> 0:04:21.760 loans where the administration and the people at that time, 0:04:21.920 --> 0:04:25.000 starting back during the Clinton years, but continuing on into 0:04:25.000 --> 0:04:27.279 the Bush years, And every time I look back on 0:04:27.320 --> 0:04:30.200 the Bush years, what I thought was being done as 0:04:30.240 --> 0:04:33.479 far as conservativism at that time, not so much. 0:04:33.800 --> 0:04:35.960 But there was this push to get. 0:04:35.839 --> 0:04:39.599 As many people into the housing market as possible, to 0:04:39.920 --> 0:04:43.320 get a situation of where you could have generational wealth 0:04:43.600 --> 0:04:46.719 as opposed to what you're hearing about these knuckleheads that 0:04:46.760 --> 0:04:48.920 are in charge of the Housing Commission in New York 0:04:49.240 --> 0:04:53.800 talking about that housing and owning property. 0:04:53.600 --> 0:04:55.160 Is white privilege. 0:04:55.360 --> 0:04:57.440 Gosh, that's going to come as a big shock to 0:04:57.520 --> 0:05:01.000 a lot of my African American friends and immigrant friends 0:05:01.040 --> 0:05:03.640 and people that have come to this country from Russia 0:05:03.800 --> 0:05:06.359 or yugoslav any of the people that have come to 0:05:06.400 --> 0:05:09.200 this country that are owning property. That's going to come 0:05:09.200 --> 0:05:12.200 as a big surprise to them. But again, that's the 0:05:12.279 --> 0:05:16.400 knuckleheads of socialism, the communist type of mentality that is 0:05:16.440 --> 0:05:19.320 now running New York. But again, when you look back 0:05:19.360 --> 0:05:21.840 at the dock, at the housing market back in two 0:05:21.880 --> 0:05:25.479 thousand and five, it was on fire. The housing prices 0:05:25.480 --> 0:05:29.120 were going up tremendously. People were getting into homes, people 0:05:29.200 --> 0:05:33.400 that shouldn't have been borrowing getting homes. They were adding 0:05:33.800 --> 0:05:35.800 income to them and saying, well, if you're getting these 0:05:35.800 --> 0:05:39.120 benefits and these benefits, well you could qualify basically for 0:05:39.279 --> 0:05:39.680 a loan. 0:05:39.760 --> 0:05:42.400 Well, it wasn't cash that they were receiving. It was 0:05:42.440 --> 0:05:43.000 either you. 0:05:42.960 --> 0:05:47.040 Know, snap benefits or housing accommodations or something along those lines. 0:05:47.200 --> 0:05:50.479 So it wasn't actual cash money. So when people got 0:05:50.520 --> 0:05:53.440 into a home that they couldn't afford, then all of 0:05:53.520 --> 0:05:56.480 a sudden they defaulted on that. And then on top 0:05:56.560 --> 0:05:59.880 of that, you had a situation where companies were act 0:06:00.560 --> 0:06:03.360 you know, when you're bought, when you're loaning a lot 0:06:03.400 --> 0:06:06.560 of money. Banks don't have endless cash reserves that they 0:06:06.600 --> 0:06:09.120 can spend. So what they do is they went out 0:06:09.160 --> 0:06:12.960 and they bundled these loans and sold them at a 0:06:13.040 --> 0:06:16.840 discount where other people were processing those loans, and then 0:06:16.880 --> 0:06:19.520 they had more cash in order to lend. Well, what 0:06:19.600 --> 0:06:22.800 was happening is that they were taking well, let's say 0:06:22.880 --> 0:06:26.400 your mortgage, my mortgage, our mortgage had been sold to 0:06:26.440 --> 0:06:31.080 like four or five different companies. Now that is absolutely insane. 0:06:31.560 --> 0:06:34.920 It wasn't illegal at the time. It was sure as 0:06:35.000 --> 0:06:40.760 hell unethical, but people were going out and selling these loans, 0:06:40.800 --> 0:06:42.680 not the same you know, not the same bundle, but 0:06:42.680 --> 0:06:44.359 they'd mix them up and. 0:06:45.080 --> 0:06:45.720 Sell them out. 0:06:45.839 --> 0:06:49.359 But when somebody defaults on that loan, then that company 0:06:49.440 --> 0:06:52.320 goes back and says, okay to the insurance company or 0:06:52.360 --> 0:06:55.920 whatever to get that loan or to get that money back. 0:06:56.200 --> 0:06:58.200 They find out that they're in line with four other 0:06:58.240 --> 0:07:02.080 people for the same loan, which was absolutely ridiculous. Then 0:07:02.160 --> 0:07:04.080 on top of that, you had some of these insurance 0:07:04.080 --> 0:07:05.560 companies like you and I. We could go out and 0:07:05.560 --> 0:07:07.920 we could form an insurance company. We could say, hey, 0:07:07.960 --> 0:07:11.480 what you know, we're going to guarantee these subprime loans, 0:07:11.680 --> 0:07:14.120 these loans that most people won't ensure. 0:07:14.440 --> 0:07:15.880 We'll go ahead and ensure those. 0:07:16.160 --> 0:07:18.400 We'll get a big down payment from them, sock that 0:07:18.520 --> 0:07:22.000 money away, spend it, and then when the default comes 0:07:22.040 --> 0:07:24.240 and they ask for the money to pay for you know, 0:07:24.280 --> 0:07:28.000 from the insurance was upts. Guess what, we can't afford that, 0:07:28.040 --> 0:07:30.320 so we're going to file bankruptcy. And so we had 0:07:30.320 --> 0:07:34.040 the housing market collapse at that point. So then you 0:07:34.160 --> 0:07:36.640 have that, and you've had, you know, different ups and 0:07:36.680 --> 0:07:39.680 downs in the economy. And during those periods of times 0:07:39.880 --> 0:07:42.400 when people, you know, in two thousand and eight, when 0:07:42.440 --> 0:07:46.520 housing prices went down about forty percent, a lot of people, 0:07:46.800 --> 0:07:50.120 you know, wound up losing their homes. But during times 0:07:51.080 --> 0:07:53.440 and the Great Recession as they call it at that time, 0:07:53.920 --> 0:07:56.800 not so much great, but in economic times, when things 0:07:56.840 --> 0:07:59.560 start tightening up and your dollar doesn't go as far, 0:07:59.800 --> 0:08:02.360 that's when people kind of look back and say, well, 0:08:02.360 --> 0:08:05.120 how can I save money? Where am I wasting money? 0:08:05.360 --> 0:08:07.680 How can I get more value added to this stuff? 0:08:07.840 --> 0:08:10.240 And once in a while, even in good times, it's 0:08:10.280 --> 0:08:12.800 good to take a look at that and say, gosh, 0:08:12.840 --> 0:08:16.200 you know, I'm making money, I've got a good job. 0:08:17.400 --> 0:08:19.560 Do I need to be spending money on this, that 0:08:19.680 --> 0:08:21.680 and the other thing? Should I be socking a little 0:08:21.680 --> 0:08:24.320 bit of money away? And this whole idea of just 0:08:24.480 --> 0:08:27.560 you know, spend spend, spend, spend, spend when you don't 0:08:27.560 --> 0:08:30.040 have them, when you shouldn't be doing that. You should 0:08:30.120 --> 0:08:33.160 always be going for value. You know, I talk about 0:08:33.160 --> 0:08:34.840 going to the grocery store. I went to the grocery 0:08:34.840 --> 0:08:38.000 store last night. I actually went up there because we 0:08:38.000 --> 0:08:40.200 were gonna have a salad, and so I went up 0:08:40.240 --> 0:08:42.000 to get some lettuce, and I think I went up 0:08:42.000 --> 0:08:43.400 to get some cheese, and I think I went up 0:08:43.440 --> 0:08:45.520 to get the eggs. So I only went up there 0:08:45.520 --> 0:08:48.160 to get three things. As I'm walking through the store, 0:08:48.520 --> 0:08:51.240 it's but it was Tuesday night. I was up at 0:08:51.280 --> 0:08:54.280 the store, and the sales for that week and that 0:08:54.640 --> 0:08:56.960 time at that day, and then so the next day 0:08:57.040 --> 0:08:59.360 the stuff that was on sale won't be on sale. 0:09:00.000 --> 0:09:02.840 Walking through the store, I'm looking at certain prices, I said, well, geez, 0:09:03.080 --> 0:09:05.520 that's a pretty decent price. I hadn't really looked at 0:09:05.559 --> 0:09:08.600 the circulars or the flyers that had come out for 0:09:08.640 --> 0:09:12.120 those that week for that particular store. And so I'm 0:09:12.160 --> 0:09:14.160 walking through the store and I thought, well, gee whiz, 0:09:14.160 --> 0:09:16.080 I'm getting low on cereal. So I buy a couple 0:09:16.080 --> 0:09:18.120 of boxes of cereal. I'll buy this, I'll buy this, 0:09:18.559 --> 0:09:20.120 and a couple of other items that I know that 0:09:20.120 --> 0:09:22.000 we're going to be using over the next couple of weeks, 0:09:22.080 --> 0:09:25.400 especially with football games and everything that's going to be playing, 0:09:25.760 --> 0:09:28.200 and so I thought, well, snacks and that. 0:09:28.120 --> 0:09:30.559 Sort of stuff, so I bought it. If I would have. 0:09:30.559 --> 0:09:34.160 Not paid attention and just bought you know, the or 0:09:34.400 --> 0:09:36.640 normal and when it's not on price, I would have 0:09:36.679 --> 0:09:39.760 spent over sixty dollars going up to the store to 0:09:39.800 --> 0:09:43.960 buy three items a head of lettuce, cheese, and eggs. 0:09:44.080 --> 0:09:46.679 But I spent over sixty Well, on paper, it was 0:09:46.760 --> 0:09:49.920 sixty five dollars. But because of the bargains that I got, 0:09:49.960 --> 0:09:52.280 I'm getting boxes a cereal for a dollar, and we're 0:09:52.280 --> 0:09:54.360 talking about name brands. There are a dollar ninety nine 0:09:54.920 --> 0:09:59.000 I saved. According to the receipt here, I saved twenty 0:09:59.080 --> 0:10:02.680 six dollars in seas seventy nine cents and spent forty 0:10:02.720 --> 0:10:06.079 three dollars and thirty seven cents. Just by paying attention 0:10:06.160 --> 0:10:08.679 to what's going on, you cut your food bill. And 0:10:08.679 --> 0:10:10.599 these are the kinds of things that I recommend that 0:10:10.640 --> 0:10:13.120 people do on a regular basis, because I would much 0:10:13.200 --> 0:10:15.800 rather have that twenty six dollars in my pocket than 0:10:15.840 --> 0:10:19.560 mister Kroger. So anyway, not that I'm downplaying Kroger, minds. 0:10:19.559 --> 0:10:22.240 You got decent prices if you pay attention. But anyway, 0:10:22.640 --> 0:10:24.240 coming up, we'll talk a little bit more about the 0:10:24.280 --> 0:10:28.319 private payroll survey. I'm Kevin Gordon, America's truck a Network 0:10:28.400 --> 0:10:30.520 seven hundred WLW. 0:10:31.440 --> 0:10:32.559 I need this is. 0:10:32.520 --> 0:10:37.000 The raathing repard on America's Trucking Network on seven hundred WLW. 0:10:37.800 --> 0:10:41.520 NASCAR commissioner Steve Phelps announcing his resignation Tuesday after more 0:10:41.520 --> 0:10:43.760 than twenty years with the top racing series in the 0:10:43.840 --> 0:10:48.200 United States, amid a nasty federal trial in which inflammatory 0:10:48.280 --> 0:10:53.120 texts he said during revenue sharing negotiations were revealed. Kenny 0:10:53.120 --> 0:10:55.920 Wallace reacts to this move by coffee with Kenny. 0:10:56.480 --> 0:10:57.480 It had to be done. 0:10:58.760 --> 0:11:02.720 It had to be done for NASCAR to move forward. 0:11:03.559 --> 0:11:07.920 There are good times ahead for NASCAR. Let me explain. 0:11:08.720 --> 0:11:13.480 I'm privy to a lot of information. You all and 0:11:13.559 --> 0:11:16.000 all of us are gonna get so much. 0:11:17.080 --> 0:11:19.240 We're gonna get everything we wanted. 0:11:20.160 --> 0:11:26.240 That everyone will have no choice but to love NASCAR again. 0:11:27.200 --> 0:11:28.240 And other racing news. 0:11:28.320 --> 0:11:31.760 Jesse Love, the reigning twenty twenty five NASCAR O'Reilly Auto 0:11:31.760 --> 0:11:34.960 Parts Series champion, will compete in the twenty twenty six 0:11:35.040 --> 0:11:39.520 Chili Bowl Nationals, the premier event in midget racing in Tulsa, Oklahoma. 0:11:39.920 --> 0:11:42.800 Will Power made his first run for Andretti Global at 0:11:42.960 --> 0:11:46.360 Phoenix Raceway on Wednesday as part of a Firestone Racing 0:11:46.480 --> 0:11:51.040 tire test alongside former teammate Joseph Newgarden from Team Penske. 0:11:51.400 --> 0:11:53.800 The Indy cars will run at Phoenix in March. 0:11:55.240 --> 0:11:58.360 This is the racing reward on America's drug A Network 0:11:58.559 --> 0:12:03.200 on seven hundred WL Say Dennison a t. 0:12:04.679 --> 0:12:04.800 N. 0:12:08.120 --> 0:12:13.439 I'm Kevin Gordon, americastruck A Network seven hundred WLW Taking 0:12:13.480 --> 0:12:16.920 a look at again getting into this private payroll surveys 0:12:16.960 --> 0:12:21.160 from ADP to a payroll processing firm. Talk about a 0:12:21.200 --> 0:12:24.360 company that should have a handle on what's going on. 0:12:25.000 --> 0:12:27.520 You figure that, all right, this is a company of 0:12:27.559 --> 0:12:29.080 the process of payroll checks. 0:12:29.080 --> 0:12:30.880 All right, If you're. 0:12:30.840 --> 0:12:35.760 Processing ten thousand and fifteen thousand more checks this week 0:12:35.840 --> 0:12:38.560 or this payroll period than you did the previous you'd 0:12:38.559 --> 0:12:40.720 have a pretty good idea what's going on as far 0:12:40.760 --> 0:12:43.920 as the labor market is concerned. So anyway, getting this 0:12:44.200 --> 0:12:47.079 payroll report from them was a good thing. Again, up 0:12:47.160 --> 0:12:50.640 forty one thousand from what was twenty nine negative twenty 0:12:50.720 --> 0:12:53.280 nine thousand in November. Now, originally that number had come 0:12:53.320 --> 0:12:56.200 in at thirty two, but it had been adjusted because 0:12:56.240 --> 0:12:58.880 of the numbers, so it wound up being at twenty 0:12:59.000 --> 0:13:01.559 nine thousand. Not a big difference there, but again they 0:13:01.559 --> 0:13:04.720 had expected forty eight thousand, or the economists that expected 0:13:04.960 --> 0:13:08.080 forty eight thousand forty one thousand. There were fifteen percent off, 0:13:08.240 --> 0:13:10.119 but still in positive territory. 0:13:10.440 --> 0:13:11.280 Nearly all the. 0:13:11.320 --> 0:13:14.760 Job gains came in companies employing fewer than five hundred workers. Now, 0:13:14.800 --> 0:13:16.640 wait a minute, let me stick skip back here, because 0:13:16.640 --> 0:13:18.640 I got off track here When I was talking about 0:13:18.640 --> 0:13:21.839 the payroll growth was in education, health related fields added 0:13:21.880 --> 0:13:26.040 thirty nine thousand, and leisure and hospitality contributed twenty four thousand, 0:13:26.400 --> 0:13:30.319 and then talking about the transportation adding eleven thousand. Again 0:13:30.400 --> 0:13:33.680 talking about hospitality and leisure where people are spending money. 0:13:33.920 --> 0:13:36.440 Where if they're still out there spending money, then these 0:13:36.480 --> 0:13:40.520 companies are adding payrolls transportation, more goods are being transferred, 0:13:40.679 --> 0:13:45.600 more goods are being transported over the whatever method, either 0:13:45.640 --> 0:13:50.559 through airfare or railroad or trucking industry. So again financial 0:13:50.600 --> 0:13:54.800 services rose by six thousand. Offsetting those gains were losses 0:13:54.840 --> 0:13:59.600 of twenty nine thousand in professional and business services and 0:13:59.679 --> 0:14:04.520 twelve thousand information services. Remember, with all the AI and 0:14:04.600 --> 0:14:07.160 all that building up last year, a lot of technology 0:14:07.200 --> 0:14:09.439 companies were hiring more and more. 0:14:09.280 --> 0:14:11.480 People in order to get this up and running. 0:14:11.679 --> 0:14:15.600 Well, apparently those people were being used to get things 0:14:15.679 --> 0:14:19.000 up as far as AI is concerned. Once that's done, 0:14:19.160 --> 0:14:21.960 then those contracts ended and those people have been eliminated. 0:14:22.360 --> 0:14:22.840 And in the. 0:14:22.800 --> 0:14:26.320 Service sector, as far as professional and business services, a 0:14:26.320 --> 0:14:30.280 lot more stuff is being done online, a lot more programs. 0:14:30.480 --> 0:14:32.320 You know, you can go online now and you can 0:14:32.360 --> 0:14:36.440 see how certain well this time of year when people 0:14:36.480 --> 0:14:39.840 are doing their taxes or thinking in terms of their taxes, 0:14:40.560 --> 0:14:43.440 some of the programs that are out there are getting 0:14:43.480 --> 0:14:46.720 better and better and better at taking your information, putting 0:14:46.760 --> 0:14:49.400 it in there and coming up with a result, which 0:14:49.440 --> 0:14:52.000 means that people that would be normally going to some 0:14:52.560 --> 0:14:56.520 tax service company or in the professions there, those are 0:14:57.120 --> 0:14:59.960 you know, coming down. People aren't using that as much. 0:15:00.400 --> 0:15:04.360 And in terms of companies, a lot of AI is 0:15:04.360 --> 0:15:07.360 starting to take over in those professional areas, and so 0:15:07.400 --> 0:15:09.920 we're seeing a little bit of a decrease there, but 0:15:10.200 --> 0:15:13.600 it could be temporary offsetting a gain twenty nine thousand 0:15:13.640 --> 0:15:18.200 professional and business services that could come back again based 0:15:18.200 --> 0:15:21.800 on if businesses aren't expanding, you're not going to have 0:15:21.880 --> 0:15:26.240 a need for somebody that is a merger and acquisition. 0:15:26.720 --> 0:15:31.040 So if these companies that do merger and acquisition advisement, 0:15:31.520 --> 0:15:34.400 either accounting firms, at law firms or whatever, if they're 0:15:34.440 --> 0:15:36.520 not doing many of that, well, then they've got too 0:15:36.520 --> 0:15:38.960 many people on hand, and so they may be laying 0:15:38.960 --> 0:15:41.840 some of those people off. So again, when we're looking 0:15:41.880 --> 0:15:45.120 at nearly all the job games gains came in companies 0:15:45.120 --> 0:15:48.680 employing fewer than five hundred workers. That is a good 0:15:48.720 --> 0:15:51.960 sign because when you look at you know, we always 0:15:51.960 --> 0:15:54.000 hear about the big major companies. You know, you got 0:15:54.120 --> 0:15:56.960 your A, you got your GM, and you have your 0:15:57.040 --> 0:16:00.760 Ford Motor Company, you have your grocery store companies, and 0:16:00.800 --> 0:16:05.120 you have a lot of major employers. But the bulk 0:16:05.160 --> 0:16:08.800 of people that are working are working for small companies. 0:16:09.200 --> 0:16:12.120 To give you an example, firms with fewer than one 0:16:12.200 --> 0:16:17.680 hundred employees less than one hundred employees employee fifty two 0:16:17.880 --> 0:16:21.240 percent of the people that are working. Firms with one 0:16:21.360 --> 0:16:25.080 hundred to four hundred and ninety nine employees, they represent 0:16:25.200 --> 0:16:29.360 about twenty five percent of the employees working. Firms with 0:16:29.600 --> 0:16:34.080 more than five hundred employees only represent twenty three percent 0:16:34.160 --> 0:16:36.600 of the total people that are working out there, So 0:16:36.720 --> 0:16:40.520 the major gains if you're seeing an uptick in small 0:16:40.560 --> 0:16:43.600 businesses again, which they're not going to. 0:16:44.040 --> 0:16:45.880 You know, when you're a small company. 0:16:45.760 --> 0:16:48.360 You're a little bit more aware of what your costs 0:16:48.400 --> 0:16:51.320 and what your expenses are because you're seeing them and 0:16:51.400 --> 0:16:54.440 in some cases you're writing the checks for that or 0:16:54.640 --> 0:16:57.680 paying the things online, so you're well aware of what's 0:16:57.720 --> 0:17:00.360 going on. But if you're seeing that your business is 0:17:00.440 --> 0:17:03.080 up and you need to hire employees, that's a good 0:17:03.120 --> 0:17:06.240 sign because again with the small businesses, those are the 0:17:06.240 --> 0:17:09.639 ones most adversely affected by interest rates. And as we 0:17:09.680 --> 0:17:12.760 start seeing interest rates coming down, as we start seeing 0:17:12.800 --> 0:17:15.080 them a nudge a little bit closer to a little 0:17:15.080 --> 0:17:19.240 bit more reasonableness, which again they are still, in my opinion, 0:17:19.359 --> 0:17:22.200 twice what they should be, because if you compare our 0:17:22.320 --> 0:17:25.480 interest rates to other countries around the world, in the 0:17:25.560 --> 0:17:29.879 developed world, developed countries, you look at what we're paying 0:17:29.920 --> 0:17:32.879 here versus what they're doing in England and France and 0:17:32.880 --> 0:17:35.680 the European Union, while they're all in the European Union. 0:17:35.840 --> 0:17:39.320 But in other countries, Israel and some of these other countries, 0:17:39.600 --> 0:17:40.720 our interest rates are. 0:17:40.640 --> 0:17:42.720 A lot higher than what they are there. 0:17:42.960 --> 0:17:45.159 So if you free up, you know, a couple of 0:17:45.560 --> 0:17:48.200 half a percentage point here, a half percentage point there, 0:17:48.320 --> 0:17:51.800 these small companies can now afford to hire more employees. 0:17:51.840 --> 0:17:55.199 And when we're seeing more all the gains, most of 0:17:55.240 --> 0:17:58.040 the gains coming in companies that are less than five hundred. 0:17:58.280 --> 0:18:01.040 That is a very good sign for our economy and 0:18:01.560 --> 0:18:04.560 a very good bright spot. As far as job openings, 0:18:04.640 --> 0:18:07.760 what they're talking about. This from the Bureau of Labor Statistics, 0:18:07.960 --> 0:18:11.280 the number of job openings was little changed at seven 0:18:11.280 --> 0:18:16.080 point one million in November. US Labor Statistics reported over 0:18:16.119 --> 0:18:20.199 the month, hires were little change. Let me see, hires 0:18:20.240 --> 0:18:24.360 were little change and total separations were unchanged at five 0:18:24.400 --> 0:18:28.840 point one million each within separations both quits three point 0:18:28.920 --> 0:18:32.719 two million and layoffs and discharges one point seven million. 0:18:32.960 --> 0:18:36.160 So that in terms of the labor market is kind 0:18:36.160 --> 0:18:37.679 of on an even keel. 0:18:38.080 --> 0:18:41.040 Let me go back to this particular story from ADP 0:18:41.240 --> 0:18:42.119 talking about ADP. 0:18:43.640 --> 0:18:46.120 Well, one of the things in there, wage gains continue 0:18:46.160 --> 0:18:48.560 to be tempered and those staying on their job seeing 0:18:48.600 --> 0:18:52.199 an average annual increase of four point four percent was 0:18:52.320 --> 0:18:56.399 unchanged from November, while job changers saw So if somebody 0:18:56.480 --> 0:18:59.680 switching jobs, and again, if you happen to be in 0:18:59.720 --> 0:19:02.159 the market marketing, you happen to be looking for a job, 0:19:02.359 --> 0:19:05.159 you know, it's always best to have a job, know 0:19:05.240 --> 0:19:08.720 where you're going to land before you quit. So if 0:19:08.720 --> 0:19:12.359 somebody is a job hopping, they are seeing a six 0:19:12.400 --> 0:19:16.760 point six point six percent increase, which is a little 0:19:16.760 --> 0:19:21.240 bit better. Talking about Bureau of Labor Statistics watching on 0:19:21.359 --> 0:19:23.719 firm payrolls, those will be coming out, I think they 0:19:23.760 --> 0:19:27.800 said on Friday, economic survey by dal Jones expects seventy 0:19:27.800 --> 0:19:30.840 three thousand new jobs for the month, up from sixty 0:19:30.840 --> 0:19:33.640 four thousand in November. Of course we'll see how those 0:19:33.720 --> 0:19:35.919 numbers pan out, and of course we'll have that for 0:19:36.000 --> 0:19:38.920 you on Tuesday. But again the Bureau of Labor Statistics, 0:19:38.960 --> 0:19:43.240 the number of people job opening is to seven point 0:19:43.320 --> 0:19:47.919 one pretty much unchanged. So what boggles my mind is 0:19:47.960 --> 0:19:53.959 that if layoffs are low, if the unemployment, if the 0:19:53.960 --> 0:19:57.960 initial jobless claims are low, and the number of people 0:19:58.080 --> 0:20:01.800 that are out of work is unchanged, how are we going? 0:20:02.080 --> 0:20:05.800 And I can't wait to see the next unemployment number. 0:20:06.119 --> 0:20:08.800 They said it jumped up to four point six percent, 0:20:09.000 --> 0:20:12.199 when it had been at four point one. Then they 0:20:12.320 --> 0:20:15.159 nudged it up to four point two sometime in September 0:20:15.560 --> 0:20:19.000 October thereabouts, then up to four point three I think 0:20:19.040 --> 0:20:22.040 it was in October. How it went to four point 0:20:22.080 --> 0:20:25.520 six percent when you don't see any major layoffs, when 0:20:25.560 --> 0:20:28.080 you don't see any major companies going out of business 0:20:28.160 --> 0:20:32.040 or anything along those lines, initial jobless claims remaining steady, 0:20:32.320 --> 0:20:35.040 the number of people that are out of work remaining 0:20:35.080 --> 0:20:38.359 within a certain range. I just don't understand how they 0:20:38.400 --> 0:20:42.040 came up with that four point six percent unless there's 0:20:42.080 --> 0:20:45.760 some gaming of the numbers trying to downplay the economy. 0:20:46.000 --> 0:20:50.800 Remember Rick Santelly talking about GDP when we got these, 0:20:50.880 --> 0:20:54.480 when they were expecting basically about a three point what 0:20:54.640 --> 0:20:58.080 was a three point eight percent increase in a GDP 0:20:58.440 --> 0:21:00.800 and it came in and roaring at five point a 0:21:00.840 --> 0:21:05.240 four point three percent increase, And he talked about consumer sentiment, 0:21:05.320 --> 0:21:09.080 and he said, you can take those consumer sentiment things 0:21:09.200 --> 0:21:11.639 and take a big shovel and put them in the 0:21:11.680 --> 0:21:15.280 trash can. Because the mainstream media, as I call them, 0:21:15.320 --> 0:21:18.280 the spoon federc urgitators in the mainstream media, as he 0:21:18.480 --> 0:21:24.040 talked about, had poisoned the well. So again, the perception 0:21:24.280 --> 0:21:27.680 versus reality is incredible. Coming up, we're going to talk 0:21:27.680 --> 0:21:31.320 a little bit about transportation stocks. I'm Kevin Gordon, America's 0:21:31.320 --> 0:21:41.159 struck A Network seven hundred WLW tuitions. 0:21:41.880 --> 0:21:44.199 Here's your trucking forecast for the Try State and the 0:21:44.200 --> 0:21:45.879 rest of the country. In the Try State of a 0:21:45.960 --> 0:21:49.080 night partly Claudie, the low down to thirty seven, mostly cloudy. Thursday, 0:21:49.119 --> 0:21:52.320 highs in the lower sixties. Friday, rain early Anyboy early 0:21:52.400 --> 0:21:55.480 afternoon hides into the upper sixties, then Claudie with rain 0:21:55.520 --> 0:21:58.639 mainly in the morning. Saturday, a high fifty eight nationally 0:21:58.680 --> 0:22:02.120 Thursday night into Friday. Snow will impact southeastern Colorado into 0:22:02.119 --> 0:22:04.920 New Mexico. A severe weather thread to flash flenty forecasts 0:22:04.920 --> 0:22:08.400 across the lower Mississippi and Tennessee Valley Friday. Cooler temperatures 0:22:08.400 --> 0:22:10.919 will be seen in the interior West Thursday, as mountain 0:22:10.960 --> 0:22:14.400 snow was seen in the Cascades in northern Rockies Wednesday night. Meanwhile, 0:22:14.480 --> 0:22:17.359 record warm temperatures expected for much of the southeast to 0:22:17.480 --> 0:22:20.240