WEBVTT - America's Truckin Network -- 10/21/25 0:00:11.080 --> 0:00:13.880 This is America's Trucking Network with Kevin Gordon. 0:00:15.840 --> 0:00:16.520 Welcome more. 0:00:16.880 --> 0:00:20.200 Thanks for tuning in on this Tuesday morning. Well, we 0:00:20.280 --> 0:00:24.040 got the initial jobless claims last week. Now the Bureau 0:00:24.079 --> 0:00:26.480 of Labor Statistics has been shut down due to the 0:00:26.520 --> 0:00:31.240 government's shutdown, the Schumer shutdown, and yet Goldman Sachs and 0:00:31.360 --> 0:00:35.279 JP Morgan were able to extract the same information that 0:00:35.320 --> 0:00:38.800 the Bureau of Labor Statistics looks at because this is 0:00:38.840 --> 0:00:41.800 all posted on the website, and they were able to 0:00:41.840 --> 0:00:45.559 extract this information, which then leads me, as I've been 0:00:45.960 --> 0:00:49.200 mentioning over the last couple of weeks, is why are 0:00:49.240 --> 0:00:53.040 we dependent on these government agencies to do that and 0:00:53.120 --> 0:00:57.160 put these numbers together when it's readily available and the 0:00:57.320 --> 0:01:01.920 people that use that information wait on the Bureau of 0:01:02.000 --> 0:01:05.880 Labor Statistics or a government agency to collect that data 0:01:05.959 --> 0:01:09.800 for them, when if they're in that business, they're probably 0:01:09.840 --> 0:01:14.479 collecting that information anyway as a heads up to their clients. 0:01:14.959 --> 0:01:18.720 So isn't this a bit of a redundancy And wouldn't 0:01:18.720 --> 0:01:22.240 it be more wouldn't it be more? It would be 0:01:22.280 --> 0:01:26.360 more independent if you've got two different competing firms that 0:01:26.440 --> 0:01:30.760 are out there getting that statistics and then presenting it. 0:01:31.280 --> 0:01:33.720 One wouldn't be able to favor it in one direction 0:01:33.840 --> 0:01:36.640 or another, or fudge the numbers in order to boost 0:01:36.640 --> 0:01:42.480 their sales or encourage more clients to invest in stocks, 0:01:42.520 --> 0:01:44.560 because that would come back and bite them in the 0:01:44.560 --> 0:01:47.800 butt later on. Anyway, But think of the amount of people, 0:01:47.840 --> 0:01:51.000 the number of people involved Bureau of Labor Statistics, that 0:01:51.080 --> 0:01:54.680 are doing what the private sector can do. Going back 0:01:54.720 --> 0:01:59.280 to Abraham Lincoln, he talked about that we hire the 0:01:59.320 --> 0:02:04.080 government to do for us collectively what we can't do individually. 0:02:04.280 --> 0:02:07.960 In other words, I can't afford to have a security 0:02:08.000 --> 0:02:11.560 officer outside of my house every day. Our neighborhood can't 0:02:11.600 --> 0:02:15.639 afford that. So what we do, as far as taxpayers 0:02:15.680 --> 0:02:19.440 are concerned our city, we hire police department. I can't 0:02:19.520 --> 0:02:24.079 hire firemen to stand out there also, so we hire 0:02:24.360 --> 0:02:28.560 fire departments, we hire road departments, all these things that 0:02:28.600 --> 0:02:33.040 we individually can't do. And so when the government, like 0:02:33.080 --> 0:02:35.639 the Bureau of Labor Statistics and some of these reporting 0:02:35.680 --> 0:02:38.840 agencies go into something that can be done in the 0:02:38.880 --> 0:02:42.400 private sector, why are we letting that happen and why 0:02:42.440 --> 0:02:48.040 are we building breau this bureaucratic nightmare in terms of 0:02:48.120 --> 0:02:51.320 all these individuals. So again that's just my two cents 0:02:51.360 --> 0:02:54.079 worth that maybe that's one of the areas that can 0:02:54.120 --> 0:02:57.600 be cut if this information is available. And what it 0:02:57.720 --> 0:03:00.560 is is that it talks about in here. Now, now 0:03:00.680 --> 0:03:04.639 let's we get into it. But basically, the states report 0:03:04.720 --> 0:03:08.160 their numbers to the federal government on a weekly basis, 0:03:08.880 --> 0:03:11.720 and sometimes that information is delayed, and that's why you 0:03:11.760 --> 0:03:16.359 have seasonally adjusted or adjusted later on. Number of Americans 0:03:16.400 --> 0:03:20.160 filing for applications for jobless benefits fell last week, economists 0:03:20.160 --> 0:03:23.840 at JP Morgan and Goldman Sachs estimated on Thursday, but 0:03:24.040 --> 0:03:29.560 lackluster hiring has left many on unemployment roles. Initial claims 0:03:29.560 --> 0:03:34.960 for state unemployment benefits dropped dropped to a seasonally adjusted 0:03:35.000 --> 0:03:38.520 two hundred and seventeen thousand for the week ending October 0:03:38.560 --> 0:03:43.720 eleventh from two hundred and thirty five thousand the previous week. Now, 0:03:44.520 --> 0:03:47.000 sky was following a couple of weeks ago with the 0:03:47.120 --> 0:03:51.000 jobless claims approaching two hundred and fifty thousand. We found 0:03:51.040 --> 0:03:56.000 out that that was somewhat not somewhat, but inflated by 0:03:56.040 --> 0:04:00.760 about thirteen thousand thereabouts because of some fraudulent claims that 0:04:00.800 --> 0:04:03.960 were made in Texas, and this was a group of 0:04:03.960 --> 0:04:08.640 people or a group an organization trying to do fraudulent claims. Now, 0:04:08.800 --> 0:04:11.760 the stories you heard that here on America's struck A network, 0:04:12.080 --> 0:04:14.360 but you didn't hear that in the Spoon feder regurgitators 0:04:14.360 --> 0:04:16.640 in the mainstream media. They just said, oh, it was 0:04:16.680 --> 0:04:20.200 adjusted from the prior week. But again, we correct the 0:04:20.240 --> 0:04:23.920 information here and give you the straight information without all 0:04:23.960 --> 0:04:26.680 the fluff, without all the because again, if it bleeds, 0:04:26.680 --> 0:04:29.120 it leads as far as the Spoon federalgurgitators in the 0:04:29.160 --> 0:04:32.600 mainstream media. But that information is out there and that's 0:04:32.600 --> 0:04:35.120 in people's mind, and what I want to do is 0:04:35.160 --> 0:04:38.280 correct that if it's wrong. So again, when we look 0:04:38.320 --> 0:04:41.560 at these numbers, down down to two hundred and seventeen 0:04:41.600 --> 0:04:44.800 thousand from two hundred and thirty five thousand the prior week, 0:04:45.400 --> 0:04:47.880 US government shutdown now in its third week, due to 0:04:48.600 --> 0:04:54.080 political standoff between Republicans and Democrats, basically by Democrats. Now, 0:04:54.120 --> 0:04:57.080 let's let me throw this out there. There was a 0:04:57.320 --> 0:05:04.040 continuing resolution, a clean continuing resolution, no additions from the Democrats, 0:05:04.600 --> 0:05:06.840 no additions from the Republicans. 0:05:07.240 --> 0:05:11.000 It was okay, what we're going to do is vote. 0:05:10.720 --> 0:05:15.000 To keep the government open at the same rate, at 0:05:15.040 --> 0:05:19.480 the same budget, at the same everything as before. None 0:05:19.480 --> 0:05:22.839 of our stuff that we won as Republicans or Conservatives 0:05:22.960 --> 0:05:26.320 are added on this or tacked onto this. Nothing from 0:05:26.320 --> 0:05:30.479 the Democrats. It's just a what they call a clean bill, 0:05:30.839 --> 0:05:35.840 clean resolution. And yet the Democrats have voted against that 0:05:36.040 --> 0:05:39.440 what eleven times now and refuse to open the government 0:05:39.640 --> 0:05:44.839 because they want to add a one point five trillion 0:05:45.440 --> 0:05:51.240 dollars in subsidies and government assistance to illegal aliens. 0:05:51.880 --> 0:05:53.400 That's the bottom line there. 0:05:53.680 --> 0:05:58.159 So a clean continuing resolution has been voted down eleven 0:05:58.200 --> 0:06:02.239 times by the Democrats. So because they're not getting their way, 0:06:02.720 --> 0:06:06.880 because they're not getting the additions that they want, they're 0:06:06.920 --> 0:06:09.159 going to shut the government down as opposed to just 0:06:09.279 --> 0:06:12.120 leaving things as they are to continue on and on. 0:06:12.480 --> 0:06:16.479 Now again, go back and listen to what they said 0:06:16.680 --> 0:06:19.520 a couple of years ago, or even six months ago. 0:06:19.760 --> 0:06:22.120 I think it was in March that they said, to 0:06:22.240 --> 0:06:27.320 shut the government down is ridiculous. So each side needs 0:06:27.360 --> 0:06:30.080 to pull out all the freebies that are holding this up. 0:06:30.120 --> 0:06:32.680 And we just have this clean bill, and everybody was 0:06:32.720 --> 0:06:35.080 on board with that, and all the Democrats or the 0:06:35.160 --> 0:06:38.119 Democrats voted for now all of a sudden six months 0:06:38.200 --> 0:06:40.239 later when Donald Trump's in the White House. 0:06:40.440 --> 0:06:42.600 Hm, we don't get that interesting. 0:06:42.880 --> 0:06:47.839 States, however, continue to collect the claims data and submit 0:06:47.880 --> 0:06:52.360 it to the Labor Department's database, which remains accessible, so 0:06:52.440 --> 0:06:56.040 that information is added in there. Economists have been using 0:06:56.080 --> 0:07:00.680 the unadjusted claims data to make estimates using season adjustment 0:07:00.760 --> 0:07:04.760 factors that the government published earlier this year. Claims data 0:07:04.839 --> 0:07:10.920 was unavailable for Arizona, Massachusetts, Nevada, and Tennessee. Now question here, 0:07:11.240 --> 0:07:14.880 if this information is so relevant and so important to 0:07:15.000 --> 0:07:18.000 the decision making as far as the federal reserve on 0:07:18.200 --> 0:07:22.000 interest rates, as far as how the job market is doing, 0:07:22.360 --> 0:07:26.080 if businesses are relying on this information as to what 0:07:26.160 --> 0:07:28.640 the unemployment rate is and just a gauge of how 0:07:28.680 --> 0:07:31.240 well the economy is doing. Because if they're out there 0:07:31.360 --> 0:07:35.560 selling stuff and there's large unemployment, then they can expect 0:07:35.600 --> 0:07:37.640 that their business is going to take a downturn because 0:07:37.720 --> 0:07:39.280 people are out of work they don't have money to 0:07:39.320 --> 0:07:42.600 pay for it. So with that in mind, why are 0:07:42.640 --> 0:07:46.960 these states late Arizona, Massachusetts, Nevada, and Tennessee. According to this, 0:07:47.080 --> 0:07:51.760 our estimates assumed the initial claims for Tennessee, Massachusetts, and Arizona, Nevada, 0:07:51.880 --> 0:07:56.080 which didn't appear in today's DOL data. We're in line 0:07:56.120 --> 0:07:58.880 with the latest published numbers, according to Goldman. Sachs said 0:07:58.880 --> 0:08:02.160 in a note, the range between two hundred and eleven 0:08:02.200 --> 0:08:04.680 thousand and two hundred and twenty five thousand, using the 0:08:04.720 --> 0:08:07.520 lowest and highest levels for claims in these states during 0:08:07.560 --> 0:08:11.720 the year. Now, again, if this is important, why aren't 0:08:11.720 --> 0:08:16.000 the states getting this in on time and timely information 0:08:16.440 --> 0:08:19.320 to get this to the necessary people so that they 0:08:19.360 --> 0:08:22.840 can make intelligent decisions. Again, this is one of those 0:08:22.880 --> 0:08:25.600 things that I talk about that if there's no if 0:08:25.640 --> 0:08:28.920 there's no time frame on this, if there's no penalty 0:08:28.960 --> 0:08:31.480 for not doing this, and you know, hey, you know 0:08:31.520 --> 0:08:34.080 I don't get to it today. You know, Hey, I 0:08:34.120 --> 0:08:36.720 get off work at four o'clock and it's you know, 0:08:36.760 --> 0:08:37.560 it's two o'clock. 0:08:37.600 --> 0:08:39.559 Now, I really don't want to start. 0:08:39.320 --> 0:08:41.800 Anything new because you know, then I'll have to maybe 0:08:41.840 --> 0:08:44.200 I'll have to work five minutes over time, and you 0:08:44.240 --> 0:08:46.439 know I can't do that as a state. 0:08:46.240 --> 0:08:48.439 Office worker or whatever. It's nuts. 0:08:48.720 --> 0:08:52.560 Abbiel Reinhardt and economists at JP Morgan. The latest job 0:08:52.679 --> 0:08:56.960 was claims look quite decent and suggests layoffs remin low. 0:08:57.679 --> 0:09:00.880 With movement in the and with no movement in the 0:09:00.960 --> 0:09:01.880 unemployment rate. 0:09:02.480 --> 0:09:06.240 Claims data have become key for Federal Reserve officials trying 0:09:06.240 --> 0:09:09.440 to assess the health of the labor market ahead of 0:09:09.840 --> 0:09:14.000 the October twenty eighth twenty ninth policy meeting. Now they 0:09:14.280 --> 0:09:17.200 get in here into some of the government or some 0:09:17.440 --> 0:09:20.000 hiring and how some of these numbers are kind of 0:09:20.160 --> 0:09:22.360 turned around or analyzed and so on. 0:09:22.480 --> 0:09:23.679 We'll pick this up coming up. 0:09:23.720 --> 0:09:28.640 I'm Kevin Gordon, America's Trucking Network, seven hundred WLW. 0:09:29.440 --> 0:09:30.559 I need this is. 0:09:30.480 --> 0:09:35.040 The breathing reward on America's Druging Network on seven hundred WLW. 0:09:35.960 --> 0:09:39.080 Chase Briscoe advanced to the Championship four the NASCAR Cup 0:09:39.160 --> 0:09:42.319 Series with that thrilling last lap win at Talladega Sunday. 0:09:42.720 --> 0:09:46.200 So far in the Championship four headed to Phoenix is 0:09:46.240 --> 0:09:49.600 the season wins leader in Denny Hamlin, the season top 0:09:49.720 --> 0:09:53.520 five leader in brisco Two drivers holding the final two 0:09:53.600 --> 0:09:57.080 spots are now the season lapse leader Kyle Larson, and 0:09:57.160 --> 0:10:00.560 the season's top ten average finish leader in Chris for Bell. 0:10:01.080 --> 0:10:04.080 Speaking of the playoffs, reports are NASCAR is close to 0:10:04.120 --> 0:10:07.480 finalizing a playoff format that would feature the old ten 0:10:07.600 --> 0:10:11.640 race chase beginning in twenty twenty six. An official announcement 0:10:11.720 --> 0:10:16.160 after the championship at weekend in Phoenix, Max Verstappen dominated 0:10:16.200 --> 0:10:18.599 and won the Formula one United States Grand Prix for 0:10:18.679 --> 0:10:21.760 his fifth victory of the season Sunday. For Stappan is 0:10:21.800 --> 0:10:25.160 now within forty points of leader Oscar Piastre, which has 0:10:25.280 --> 0:10:28.400 four racers remaining in the F one season. For Stappan 0:10:28.480 --> 0:10:31.400 has made up sixty four points in the last four events. 0:10:31.520 --> 0:10:35.000 Yeah, we are having some really good weekends, and of 0:10:35.000 --> 0:10:36.640 course we also know that we need to be perfect 0:10:36.640 --> 0:10:37.719 till the end of the season to. 0:10:37.679 --> 0:10:38.320 Have a chance. 0:10:38.800 --> 0:10:41.640 But we will try, you know, and if we succeed 0:10:41.640 --> 0:10:44.520 of goes amazing. If we don't, we tried everything we 0:10:44.559 --> 0:10:47.120 could till the end and we kept it exciting and 0:10:47.160 --> 0:10:48.680 that's I think the spirit for us. 0:10:48.760 --> 0:10:51.600 The United States Grand Prix in Austin, Texas will remain 0:10:51.679 --> 0:10:54.760 on the F one calendar until the twenty thirty four season. 0:10:55.600 --> 0:10:58.679 I Love This is the racing report on America's Drugging 0:10:58.760 --> 0:11:03.679 Network on seven High WLW Say Dennis at atn. 0:11:03.280 --> 0:11:05.920 I'm John Morgan of Morgan and Morgan. I've been asked 0:11:05.920 --> 0:11:08.600 many times how Morgan and Morgan became the largest injury 0:11:08.640 --> 0:11:09.559 firm in the world. 0:11:09.640 --> 0:11:10.320 I think I know. 0:11:10.559 --> 0:11:13.080 When someone comes to us for an on the job injury, 0:11:13.080 --> 0:11:16.480 we have a huge workers compensation practice, but many times 0:11:16.480 --> 0:11:19.600 we find a defective product that was responsible for that injury. 0:11:19.679 --> 0:11:22.640 Luckily for them, we have a product liability section headed 0:11:22.679 --> 0:11:25.200 by my son Mike. In addition to the comp case, 0:11:25.360 --> 0:11:27.960 there is a product case too. Other times the injured 0:11:28.000 --> 0:11:30.680 worker is fired or harassed for bringing that claim. 0:11:30.760 --> 0:11:31.840 We have them covered. 0:11:31.920 --> 0:11:35.760 Our employment lawyers handle retaliation claims as well as wage, 0:11:35.800 --> 0:11:39.240 theft and discrimination cases, and in some cases need to 0:11:39.280 --> 0:11:42.839 file for Social Security benefits. No problem. We became big 0:11:42.920 --> 0:11:45.600 for a reason. Thirty percent of our new cases come 0:11:45.640 --> 0:11:49.000 as referrals from former clients. Hiring us is easy. Go 0:11:49.080 --> 0:11:51.880 to fourtherpeople dot Com on your mobile device or computer, 0:11:52.120 --> 0:11:54.959 or call Pound Law on your cell pund five to 0:11:55.200 --> 0:11:57.839 nine Morgan and Morgan Injured Dial Pound. 0:11:57.640 --> 0:12:00.160 Law, Morgan and Morgan, Ohio office located at six und 0:12:00.320 --> 0:12:01.200 Vine Street, Cincinnati. 0:12:01.240 --> 0:12:03.280 Prior results do not guarantee a similar outcome. 0:12:04.400 --> 0:12:07.640 Where with Bridget whose husband won't be home for months 0:12:08.920 --> 0:12:12.880 and whose daughter is due any day. Where with Mike, 0:12:13.800 --> 0:12:18.320 who's leaving home to protect his family and yours. 0:12:19.480 --> 0:12:20.319 We're with all. 0:12:20.240 --> 0:12:24.960 Service members and their families who need community, connection and 0:12:25.080 --> 0:12:27.120 maybe a bit of magic. 0:12:27.679 --> 0:12:28.680 Are you with them? 0:12:29.160 --> 0:12:34.679 Learn more at USO dot org Today. Where with Liam 0:12:34.920 --> 0:12:39.280 after his fourth military move, when being new is starting 0:12:39.720 --> 0:12:46.520 to get old. We're with Tara during the holidays when 0:12:46.559 --> 0:12:52.240 she misses home the most. Where with all service members 0:12:52.320 --> 0:12:57.040 and their families who need connection, comfort and a home 0:12:57.080 --> 0:12:57.839 away from home. 0:12:58.360 --> 0:13:01.720 Are you with them? Learn more at USO dealt with. 0:13:01.960 --> 0:13:04.120 Since a former Bengal and Pro Football Hall of Famer 0:13:04.160 --> 0:13:05.040 Anthony Munias. 0:13:05.080 --> 0:13:07.319 Are you or someone you know looking to gain valuable 0:13:07.360 --> 0:13:08.720 experience that positivity. 0:13:10.080 --> 0:13:11.080 I'm Kevin Gordon. 0:13:11.120 --> 0:13:15.400 America struck a network seven hundred WLW. I'm talking about 0:13:15.480 --> 0:13:19.959 US weekly Jobless Claims data, and it declined. It went 0:13:20.000 --> 0:13:23.120 from two hundred and thirty five thousand in the prior 0:13:23.200 --> 0:13:26.080 week down to two hundred and seventeen thousand, So fewer 0:13:26.120 --> 0:13:28.520 people are being laid off on a weekly basis, which 0:13:28.559 --> 0:13:31.079 is in line now just since the beginning of the year, 0:13:31.160 --> 0:13:35.040 over the last several about two three years now, the range, 0:13:35.040 --> 0:13:38.640 and unemployment has gone from two hundred thousand to up 0:13:38.640 --> 0:13:41.240 to two hundred and fifty thousand, So at two hundred 0:13:41.240 --> 0:13:43.600 and seventeen thousand, we're at the lower end of that 0:13:43.679 --> 0:13:48.520 particular spectrum, which is good. Now, one of the paragraphs 0:13:48.559 --> 0:13:52.440 in here, both layoffs and hiring remained slow or remain 0:13:52.559 --> 0:13:55.600 low rather, which is the same thing we've been hearing 0:13:55.640 --> 0:13:59.679 now for several weeks and even months. FED Chairman Lion 0:13:59.720 --> 0:14:02.400 Jerry Powell. That's not part of the article. That's my 0:14:02.520 --> 0:14:05.880 little editorial there. But anyway, FED Chairman Lyon Jerry Powell 0:14:05.920 --> 0:14:09.600 said this week, available evidence suggests that both layoffs and 0:14:09.800 --> 0:14:14.880 hiring remain low, captain obvious, and that both households perceptions 0:14:14.920 --> 0:14:20.160 of job availability and firms perceptions of hiring difficulty continue 0:14:20.200 --> 0:14:25.200 their downward trajectories. Catch the keyword in their perceptions. That's 0:14:25.240 --> 0:14:29.880 what people are assuming that the job market is slow. Now, 0:14:29.880 --> 0:14:34.800 why is it slow? What could possibly handle? What could 0:14:34.840 --> 0:14:40.040 possibly cause their perceptions? Could it be that down? Talking 0:14:40.240 --> 0:14:44.760 of the economy since January? I mean, this is some 0:14:44.840 --> 0:14:46.840 of the crap that we have heard from the spoon 0:14:46.880 --> 0:14:52.440 fed regurgitators in the mainstream media over the last ten 0:14:52.480 --> 0:14:56.200 and a half months, ten months thereabouts, well, actually yesterday 0:14:56.240 --> 0:14:59.720 being the twentieth of October, and the inauguration in January 0:14:59.720 --> 0:15:03.720 the tw so we're into the nine excuse me, the 0:15:03.840 --> 0:15:08.520 ninth month of the second Trump term. So from day one, 0:15:09.120 --> 0:15:11.680 there's been this negative talk as far as the economy 0:15:11.720 --> 0:15:16.840 is concerned, and in my opinion, trying to manufacture a 0:15:16.920 --> 0:15:20.880 recession because when the talk was about terrorists. 0:15:20.600 --> 0:15:22.680 Remember you may remember at the beginning of the year when. 0:15:22.560 --> 0:15:25.080 They were talking about tariffs, that oh, this is this 0:15:25.120 --> 0:15:27.800 is going to spiral out of control. We're going to 0:15:27.840 --> 0:15:31.560 go into a recession, we are going to have rampant 0:15:31.720 --> 0:15:35.400 out of control inflation, and on and on and on, 0:15:36.040 --> 0:15:39.160 none of which has happened, and everybody is admitting that 0:15:39.400 --> 0:15:42.600 it hasn't happened, and we're seeing a little bit of 0:15:42.640 --> 0:15:45.680 trickle But when you get into the nuts and bolts 0:15:45.720 --> 0:15:48.560 of what's causing some of the inflation, it has to 0:15:48.600 --> 0:15:52.480 do with salary and wage increases from union contracts and 0:15:52.560 --> 0:15:56.400 other contracts that have been established over the last well 0:15:56.480 --> 0:15:59.680 two and a half years, and yet nobody digs into 0:15:59.680 --> 0:16:02.360 that information and talks about it other than here on 0:16:02.400 --> 0:16:05.760 America's struck a network. So when you start seeing this 0:16:05.880 --> 0:16:09.920 inflation going in, where is the inflation coming from. 0:16:10.040 --> 0:16:10.960 A couple of weeks. 0:16:10.760 --> 0:16:14.560 Ago, Lion Jerry Powell talked about the service sector. Well, 0:16:14.600 --> 0:16:18.880 the service sector isn't vulnerable to tariffs. The service sector 0:16:18.920 --> 0:16:22.640 is vulnerable to wages. It is why it's called the 0:16:22.840 --> 0:16:27.080 service sector. And so if the wages go up in 0:16:27.120 --> 0:16:31.120 the service sector, then that's going that's going to cause 0:16:31.160 --> 0:16:35.480 the inflation in that sector. And digging into those numbers, 0:16:35.520 --> 0:16:39.760 what we saw was that the number the numbers were 0:16:39.840 --> 0:16:46.080 high as far as the fees charged by stockbrokers because 0:16:46.240 --> 0:16:49.640 more people are going into the market because the market 0:16:49.800 --> 0:16:53.640 is not just the highest for the week, the highest 0:16:53.640 --> 0:16:56.640 for the month, the highest for the year, it is 0:16:56.720 --> 0:17:03.800 the highest of all time historically. So people are jumping in, 0:17:04.000 --> 0:17:07.080 more people are jumping in. The fees aren't going up, 0:17:07.400 --> 0:17:10.600 it's the volume of people in there that are going up, 0:17:10.800 --> 0:17:13.439 and therefore those prices are going up. And when you 0:17:13.480 --> 0:17:18.119 look at the number of management fees this year versus 0:17:18.200 --> 0:17:22.080 last year, they are up exponentially. But the reason for 0:17:22.160 --> 0:17:27.000 that is because of the good economy, the stock market 0:17:27.160 --> 0:17:30.800 going to record highs and people jumping in and saying Hey, 0:17:31.119 --> 0:17:34.040 I want to get on this bandwagon. So lion Jerry 0:17:34.080 --> 0:17:38.600 powisit here talking about the perceptions of households. Well, you're 0:17:38.680 --> 0:17:42.840 the Fed. You can analyze the information you got twenty 0:17:42.880 --> 0:17:47.880 three thousand employees. I'm sure there's some economists, accountants, and 0:17:47.920 --> 0:17:50.480 some people in there that can read a balance sheet. 0:17:50.880 --> 0:17:53.119 Maybe they can explain some of this stuff to you. 0:17:53.640 --> 0:17:57.960 Unemployment claims have remained within the pre government shutdown range. 0:17:58.040 --> 0:18:00.960 They have not shown large spikes to bite the shutdown 0:18:01.040 --> 0:18:05.000 pushing thousands of federal contractors out of work. The reason 0:18:05.080 --> 0:18:09.120 for that which they just throw that in there. Federal workers, 0:18:09.200 --> 0:18:12.199 hundreds of thousands of whom have been furloughed, file for 0:18:12.280 --> 0:18:15.000 claims under a separate program. 0:18:15.240 --> 0:18:18.160 So federal workers have a separate. 0:18:17.760 --> 0:18:22.760 Program, just like our legislators have a separate program for 0:18:22.920 --> 0:18:26.800 their healthcare. They're not part of Obamacare. They have their 0:18:26.920 --> 0:18:31.800 own hybrid and a very nice, comfortable health care plan. 0:18:32.200 --> 0:18:35.720 So if Obamacare was so great, why aren't they on? 0:18:35.880 --> 0:18:40.240 That makes you wonder huh oh? And by the way, all. 0:18:40.119 --> 0:18:42.879 Some of these freebies and stuff that go on the 0:18:43.000 --> 0:18:47.040 rules and things that apply to us don't apply to them. 0:18:47.440 --> 0:18:48.400 Isn't that amazing. 0:18:48.960 --> 0:18:52.720 Oh, by the way, they are considered essential employees even 0:18:52.760 --> 0:18:55.920 though they're not there, and I would question as to 0:18:55.960 --> 0:18:59.080 whether or not they're considered an essential employee. They're still 0:18:59.080 --> 0:19:04.000 getting a paycheck, So they're getting a paycheck, and they 0:19:04.160 --> 0:19:07.159 voted them. They voted that the government shut down, so 0:19:08.080 --> 0:19:10.840 why are they getting paid. See that's some of these 0:19:10.880 --> 0:19:14.199 things that just really honked me off. Federal workers hunters, 0:19:14.200 --> 0:19:17.520 of which they are under a separate program, The labor 0:19:17.560 --> 0:19:20.960 market remains stuck in a no hire, no fire estate, 0:19:21.000 --> 0:19:24.719 economists say. According to Central Banks Beige Book now that 0:19:24.760 --> 0:19:27.480 came out last week. May recall we've talked about the 0:19:27.480 --> 0:19:31.640 Beige Book. This is a periodic snapshot, if you will, 0:19:31.760 --> 0:19:35.400 of the economy that is published about eight times about 0:19:35.400 --> 0:19:37.840 every what do they say everything they say in here 0:19:37.880 --> 0:19:41.639 somewhere that it's published. Well, we'll get to it. But 0:19:41.720 --> 0:19:45.400 it's published about eight times a year, and that's right 0:19:45.400 --> 0:19:48.080 before one of the Federal Reserve meetings. We've got a 0:19:48.119 --> 0:19:50.199 meeting coming up the end of this month of the 0:19:50.240 --> 0:19:52.800 twenty eighth through the twenty ninth, I believe. And so 0:19:53.400 --> 0:19:55.959 this Beige Book, which is an economic snapshot of all 0:19:56.000 --> 0:19:58.840 the different twelve districts talks about, well, this is what's 0:19:58.880 --> 0:20:01.560 going on in our neck of the woods, here's what's 0:20:01.640 --> 0:20:03.919 going on in this district, here's what's going on as 0:20:03.920 --> 0:20:07.520 far as manufacturing, retail and all this, which, again, the 0:20:07.560 --> 0:20:11.119 Federal Reserve collects this data and they've got this information 0:20:11.200 --> 0:20:14.880 available for them to make their policy decisions during their 0:20:15.000 --> 0:20:18.720 monthly their meetings when they meet to determine interest rate. 0:20:19.400 --> 0:20:23.719 So if they are capable of accumulating this information and 0:20:23.760 --> 0:20:27.480 putting it out there and assessing the economy, why is 0:20:27.520 --> 0:20:30.760 the Bureau of Labor, Statistics, Commerce Department all this sort 0:20:30.760 --> 0:20:34.600 of stuff doing this redundancy as well? Again, shouldn't this 0:20:34.680 --> 0:20:38.639 be formed out And oh, if the Federal Reserve is 0:20:38.680 --> 0:20:43.080 supposed to be this independent organization, well then wouldn't you 0:20:43.119 --> 0:20:46.040 think that information coming out of them would be unbiased. 0:20:46.520 --> 0:20:50.080 Apparently somebody doesn't think so, because these other government agencies 0:20:50.200 --> 0:20:52.919 are still accumulating that data. Maybe it's a checks in 0:20:53.000 --> 0:20:56.240 balance type of situation, making sure that one agency is 0:20:56.560 --> 0:20:58.040 a watchdog in the other. 0:20:58.119 --> 0:20:58.639 I don't know. 0:20:59.160 --> 0:21:02.280 Bank of Americans survey on Thursday found signs of a 0:21:02.320 --> 0:21:06.000 slow down in the small business labor market. Its alternative 0:21:06.080 --> 0:21:09.680 hiring indicator based on Bank of America's small business payment 0:21:09.800 --> 0:21:14.119 data decrease in September. It also noted business applications with 0:21:14.280 --> 0:21:18.720 planned wages, viewed as a signal of job creation, have 0:21:18.880 --> 0:21:23.919 dropped below pre pandemic norms, now pre pandemic norms. If 0:21:23.920 --> 0:21:26.720 you go back to the beginning, right before the pandemic, 0:21:27.000 --> 0:21:30.200 the economy was on a roll. We were chugging out 0:21:31.400 --> 0:21:35.360 four point one four point five percent GDP. 0:21:36.600 --> 0:21:38.880 The lower the. 0:21:38.400 --> 0:21:42.720 Unemployment rate was low round four point one four percent thereabouts, 0:21:43.359 --> 0:21:49.880 lowest unemployment rate or low lowest unemployment rate among Blacks, Hispanics, teenagers. 0:21:50.119 --> 0:21:54.000 Everything across the board was humming along at historic highs. 0:21:54.200 --> 0:21:58.960 So if this is below pre pandemic levels, well, pre 0:21:59.040 --> 0:22:02.159 pandemic levels pretty darn high. The number of people receiving 0:22:02.200 --> 0:22:06.119 unemployment benefits after the initial week aid proxy for hiring 0:22:06.560 --> 0:22:10.560 was unchanged. He seasonally adjusted one million to a nine 0:22:10.600 --> 0:22:14.840 hundred and twenty seven thousand, So again low hiring, low firing, 0:22:15.320 --> 0:22:19.359 and the job market is steady and firm at not 0:22:20.080 --> 0:22:24.240 major layoffs, not major increases, so all in all, not 0:22:24.320 --> 0:22:28.160 too bad. Coming up, We've got some information on some 0:22:28.280 --> 0:22:33.160 elds that have been removed from the FMCSA's registered devices list. 0:22:33.359 --> 0:22:38.639 I'm Kevin Gordon, America's Trucking Network seven hundred WLW. 0:22:39.000 --> 0:22:46.000 News Traffic and Weather. News Radio seven hundred WLW Cincinnati. 0:22:46.400 --> 0:22:50.240 More learned about Saturday's disturbance in northern Kentucky. What the 0:22:50.240 --> 0:22:54.199 twelve thirty reports, I'm lee mowing drinking now. It was 0:22:54.200 --> 0:22:56.960 the first core appearance since the Saturday shooting near Newport 0:22:57.000 --> 0:23:00.280 on the levee as Jamal Fields and DeVonta Pettis our 0:23:00.400 --> 0:23:04.080 charge for possessing a stolen handgun, receiving stolen property, and 0:23:04.119 --> 0:23:07.760 fleeing from police. Newport police responded to a single gunshot 0:23:07.800 --> 0:23:11.720 fired off East third Street that afternoon. Prosecutors displayed new evidence, 0:23:11.720 --> 0:23:15.280 claiming Fields and Petus we're stalking two people from Cincinnati. 0:23:15.560 --> 0:23:18.159 Both ben plaid not guilty and had bond set at 0:23:18.160 --> 0:23:21.119 five hundred thousand dollars. Petis and Fields will return to 0:23:21.119 --> 0:23:22.560 court next Thursday. 0:23:23.080 --> 0:23:26.240 Now the latest forecast from the Train Heating and Cooling 0:23:26.280 --> 0:23:30.400 Weather Center on News Radio seven hundred wl W heading to. 0:23:30.359 --> 0:23:33.080 Our daybreak Tuesday, A chance of a showered through the 0:23:33.160 --> 0:23:38.280 morning rush, otherwise clouds is seven am ten fifty our Tuesday. 0:23:38.320 --> 0:23:42.159 Then after the chance we'll see sunshine. Seasonal weather a 0:23:42.280 --> 0:23:45.639 high as sixty five at night, mostly clear, and we 0:23:45.760 --> 0:23:49.280 dropped to forty four from your severe weather station. I'm 0:23:49.359 --> 0:23:54.240 nine first warning cheap meteorologist Steve Rawley News Radio seven 0:23:54.320 --> 0:23:56.960 hundred WLW. 0:23:56.160 --> 0:23:59.280 Clear skys in fifty two degrees. A traffic alert for you. 0:23:59.520 --> 0:24:03.360 The Crows ninet two seventy five eastbound at Mastella Road. Well, 0:24:03.400 --> 0:24:05.600