1 00:00:00,160 --> 00:00:04,320 Speaker 1: Hey, they're brain stuff listeners. This is not your normal episode. 2 00:00:04,640 --> 00:00:07,320 Speaker 1: We've teamed up with the long running podcast On the 3 00:00:07,440 --> 00:00:09,719 Speaker 1: Job to bring you a few samples of what they do, 4 00:00:10,200 --> 00:00:13,320 Speaker 1: which is engaged with professionals from all kinds of businesses 5 00:00:13,360 --> 00:00:18,960 Speaker 1: about what they do, from teaching to butchery to cybersecurity. 6 00:00:19,040 --> 00:00:22,200 Speaker 1: Through these stories, the team tries to help explain and 7 00:00:22,320 --> 00:00:25,720 Speaker 1: explore different aspects of what's going on in our economy. 8 00:00:26,520 --> 00:00:29,200 Speaker 1: They're sponsoring us to run these samples, and I think 9 00:00:29,200 --> 00:00:32,199 Speaker 1: it's a good fit because you may notice that I 10 00:00:32,240 --> 00:00:35,720 Speaker 1: don't do many episodes about economics here. There's a reason 11 00:00:35,760 --> 00:00:39,040 Speaker 1: for that, Like, if you want an explainer on quantum physics, 12 00:00:39,120 --> 00:00:42,280 Speaker 1: I've got you, But economics is pretty much a mystery 13 00:00:42,320 --> 00:00:46,879 Speaker 1: to me. The first episode of their seventh season just dropped, 14 00:00:46,960 --> 00:00:50,239 Speaker 1: so we're sharing it today. Will feature some previews of 15 00:00:50,280 --> 00:00:53,320 Speaker 1: future episodes in the future, though, if you want to 16 00:00:53,320 --> 00:00:56,320 Speaker 1: hear more or explore their previous seasons, you can find 17 00:00:56,440 --> 00:00:59,680 Speaker 1: On the Job from Express Employment Services wherever you get 18 00:00:59,680 --> 00:01:00,560 Speaker 1: your pot podcasts. 19 00:01:04,720 --> 00:01:07,720 Speaker 2: Welcome to On the Job, as you might be noticing 20 00:01:07,800 --> 00:01:10,600 Speaker 2: if you're a longtime listener, I am not Otis Gray. 21 00:01:11,080 --> 00:01:14,480 Speaker 2: I'm Avery Thompson, who you may remember hearing way back 22 00:01:14,520 --> 00:01:17,399 Speaker 2: in season three when I told my story a brush 23 00:01:17,440 --> 00:01:21,000 Speaker 2: with fame. Well, I'm back again and I'm excited to 24 00:01:21,040 --> 00:01:23,080 Speaker 2: take the wheel for our whole. New season of On 25 00:01:23,200 --> 00:01:26,920 Speaker 2: the Job are seventh in fact, so over the next 26 00:01:26,920 --> 00:01:30,039 Speaker 2: eight episodes, I'll be speaking with folks who have finally 27 00:01:30,080 --> 00:01:33,440 Speaker 2: folded up those pandemic sweatpants and are back out there 28 00:01:33,760 --> 00:01:38,160 Speaker 2: doing what they love and keeping America moving forward. This season, 29 00:01:38,480 --> 00:01:41,840 Speaker 2: On the Job is on the move, so come along 30 00:01:41,880 --> 00:01:48,080 Speaker 2: for the ride. It's become a bit of a tradition 31 00:01:48,160 --> 00:01:50,160 Speaker 2: here at On the Job to start the season by 32 00:01:50,160 --> 00:01:53,840 Speaker 2: speaking with an economist, someone who can help us understand 33 00:01:53,920 --> 00:01:57,000 Speaker 2: the current state of our labor market. So to kick 34 00:01:57,040 --> 00:01:59,880 Speaker 2: things off, I gave a call to Raleigh, North Carolina 35 00:02:00,400 --> 00:02:04,280 Speaker 2: to speak with doctor Michael L. Walden, Professor Emeritus of 36 00:02:04,320 --> 00:02:08,680 Speaker 2: North Carolina State University and veteran economist with over forty 37 00:02:08,760 --> 00:02:12,480 Speaker 2: years of expertise. But before you go thinking oh no, 38 00:02:12,600 --> 00:02:15,960 Speaker 2: an economist, hit the fast forward button. You'll be relieved 39 00:02:15,960 --> 00:02:18,720 Speaker 2: to know that I chose a person that understands your 40 00:02:18,760 --> 00:02:21,799 Speaker 2: apprehension and has made it his life's work to help 41 00:02:21,840 --> 00:02:24,200 Speaker 2: people get over that econ phobia. 42 00:02:24,760 --> 00:02:28,040 Speaker 3: Economics is really common sense, and I've made it my 43 00:02:29,080 --> 00:02:33,400 Speaker 3: life's purpose to explain things in ways that people can understand. 44 00:02:33,680 --> 00:02:36,960 Speaker 3: And my wife always teased me, I'll probably expire at 45 00:02:36,960 --> 00:02:39,480 Speaker 3: some meeting where I'm talking, and I'll just slip off 46 00:02:39,520 --> 00:02:42,680 Speaker 3: the podium and go on go to the next level, 47 00:02:42,720 --> 00:02:46,240 Speaker 3: because I do love talking about and explain the economics 48 00:02:46,280 --> 00:02:46,680 Speaker 3: to people. 49 00:02:47,200 --> 00:02:49,959 Speaker 2: You'll move onto that big economic forum in the sky. 50 00:02:50,880 --> 00:02:51,399 Speaker 3: That's right. 51 00:02:51,480 --> 00:02:56,040 Speaker 2: That's right. And more than just being helpful, Doctor Walden 52 00:02:56,080 --> 00:02:58,320 Speaker 2: actually thinks economics can be thrilling. 53 00:02:59,280 --> 00:03:03,720 Speaker 3: Literally, I've written with my wife what we call three 54 00:03:03,840 --> 00:03:07,400 Speaker 3: economic thrillers. Now don't lack because that's usually reaction. I 55 00:03:07,440 --> 00:03:10,320 Speaker 3: get it because people think thrilling economy that they shouldn't 56 00:03:10,320 --> 00:03:14,240 Speaker 3: go together. But I was motivated to that by quite frankly, 57 00:03:14,360 --> 00:03:17,120 Speaker 3: economists use a lot of really boring textbooks, and I 58 00:03:17,160 --> 00:03:19,400 Speaker 3: felt sorry for my students, and I thought if I 59 00:03:19,440 --> 00:03:22,079 Speaker 3: could write something that would teach them economics but would 60 00:03:22,120 --> 00:03:25,400 Speaker 3: be exciting to read. So over the course of several years, 61 00:03:25,440 --> 00:03:28,720 Speaker 3: my wife and I actually wrote three one on macroeconomics, 62 00:03:28,720 --> 00:03:31,240 Speaker 3: one on microeconomics, and one on the financial system, and 63 00:03:31,560 --> 00:03:32,440 Speaker 3: students love them. 64 00:03:34,560 --> 00:03:37,400 Speaker 2: So if you're looking for an exciting summer read. We'll 65 00:03:37,400 --> 00:03:39,880 Speaker 2: have links to doctor Walden's books in the show notes. 66 00:03:40,560 --> 00:03:43,520 Speaker 2: In the meanwhile, I asked them to explain the current 67 00:03:43,560 --> 00:03:48,120 Speaker 2: state of our nation's economic affairs, doctor Walden as the 68 00:03:48,440 --> 00:03:51,000 Speaker 2: hard hitting journalist that I am. I just did a 69 00:03:51,040 --> 00:03:54,720 Speaker 2: quick Google search, and I see that the unemployment rate 70 00:03:54,880 --> 00:03:59,360 Speaker 2: is three point four percent. That's pretty darn low, isn't it. 71 00:03:59,360 --> 00:04:01,920 Speaker 3: It's I think, actually a forty or fifty year low. 72 00:04:02,120 --> 00:04:05,760 Speaker 3: It's been amazing. In fact, we had a pretty rip 73 00:04:05,880 --> 00:04:08,200 Speaker 3: roaring economy prior to the pandemic, and of course the 74 00:04:08,280 --> 00:04:11,400 Speaker 3: pandemic hit, and we economists knew that that was going 75 00:04:11,440 --> 00:04:13,280 Speaker 3: to cause a recession, and it did. We had an 76 00:04:13,360 --> 00:04:17,400 Speaker 3: unemployment rate in March, I believe March or April of 77 00:04:17,440 --> 00:04:21,679 Speaker 3: twenty twenty fourteen percent, highest since the so called Great 78 00:04:21,720 --> 00:04:24,839 Speaker 3: Depression of the nineteen thirties. But once we began to 79 00:04:24,880 --> 00:04:27,240 Speaker 3: open up, which happened at the end of May, and 80 00:04:27,360 --> 00:04:30,359 Speaker 3: once we the federal government started pushing stimulus money in, 81 00:04:30,680 --> 00:04:33,400 Speaker 3: the economy began to quickly recover, and actually we got 82 00:04:33,440 --> 00:04:37,240 Speaker 3: back to pre levels of at least production within another quarter, 83 00:04:37,279 --> 00:04:39,760 Speaker 3: and we've been growing since and we're actually now in 84 00:04:39,839 --> 00:04:43,080 Speaker 3: an economy that's beyond where it was pre pandemic in 85 00:04:43,160 --> 00:04:45,720 Speaker 3: terms of production, also in terms of employment. 86 00:04:48,040 --> 00:04:50,440 Speaker 2: I think we can all agree that a low unemployment 87 00:04:50,520 --> 00:04:52,880 Speaker 2: rate is a good thing, but I have to admit 88 00:04:52,920 --> 00:04:55,960 Speaker 2: that I didn't entirely understand what that looked like out 89 00:04:56,000 --> 00:04:59,360 Speaker 2: in our job market. With the unemployment rate being three 90 00:04:59,440 --> 00:05:02,279 Speaker 2: point four, does that mean that there are no jobs 91 00:05:02,440 --> 00:05:06,360 Speaker 2: available for someone looking or are there lots of jobs 92 00:05:06,360 --> 00:05:08,479 Speaker 2: that we just can't keep filled? Oh? 93 00:05:08,640 --> 00:05:12,160 Speaker 3: No, there right now. A lot of people heard this 94 00:05:13,040 --> 00:05:15,680 Speaker 3: and recently that there were two jobs available for every 95 00:05:15,680 --> 00:05:18,239 Speaker 3: person unemployed. It's actually gotten a little better. Is about 96 00:05:18,240 --> 00:05:21,560 Speaker 3: one point seven jobs available for every person unemployed now. 97 00:05:21,640 --> 00:05:24,520 Speaker 3: Pre pandemic, which was more normal, it was only one 98 00:05:24,520 --> 00:05:27,719 Speaker 3: point two jobs available for every person employed. So yeah, 99 00:05:27,760 --> 00:05:31,960 Speaker 3: there are still signs out there and businesses saying please apply. 100 00:05:33,640 --> 00:05:36,520 Speaker 2: But doctor Walden explained the types of jobs that are 101 00:05:36,520 --> 00:05:39,320 Speaker 2: widely available are different from those that we might have 102 00:05:39,400 --> 00:05:42,599 Speaker 2: seen one or two years ago, because as the world 103 00:05:42,680 --> 00:05:46,520 Speaker 2: returns to some sort of post pandemic normal Americans are 104 00:05:46,560 --> 00:05:50,240 Speaker 2: once again craving community. We want to hang out at 105 00:05:50,240 --> 00:05:53,760 Speaker 2: bars and restaurants again, or maybe take that long overdue 106 00:05:53,839 --> 00:05:58,640 Speaker 2: vacation and therefore the jobs market. Those now hiring signs 107 00:05:58,680 --> 00:06:02,800 Speaker 2: we're seeing all over town reflect the shift in consumer behavior. 108 00:06:03,000 --> 00:06:06,000 Speaker 3: If you look at the latest job of report we 109 00:06:06,120 --> 00:06:08,400 Speaker 3: had for the nation, which came out January, it was 110 00:06:08,400 --> 00:06:11,440 Speaker 3: a very robust report. What we saw is a lot 111 00:06:11,480 --> 00:06:15,200 Speaker 3: of people taking restaurant jobs and personal service jobs, exactly 112 00:06:15,240 --> 00:06:17,919 Speaker 3: the opposite of what happened after the pandemic. And I 113 00:06:17,920 --> 00:06:22,039 Speaker 3: think what's happened here is the tech sector is slowing down. 114 00:06:22,480 --> 00:06:25,400 Speaker 3: So I think that this makes sense to me that 115 00:06:25,440 --> 00:06:28,520 Speaker 3: as a tech sector shed some people, those people, maybe 116 00:06:28,600 --> 00:06:30,000 Speaker 3: some of them are saying, well, I've got to go 117 00:06:30,080 --> 00:06:32,320 Speaker 3: back at least for a while, and maybe those jobs 118 00:06:32,360 --> 00:06:33,120 Speaker 3: that I left. 119 00:06:33,360 --> 00:06:36,920 Speaker 2: Despite the very favorable labor market with nearly two jobs 120 00:06:36,960 --> 00:06:40,800 Speaker 2: available for every job seeker, doctor Wildon suggests that we 121 00:06:40,800 --> 00:06:45,000 Speaker 2: shouldn't get too comfortable employers have a special trick up 122 00:06:45,000 --> 00:06:48,000 Speaker 2: their sleeve to combat this labor shortage, that we should 123 00:06:48,080 --> 00:06:49,720 Speaker 2: all be careful about. 124 00:06:50,000 --> 00:06:52,960 Speaker 3: One thing we're going to see more of to deal 125 00:06:53,279 --> 00:06:56,640 Speaker 3: broadly with the labor shortage is something that we actually 126 00:06:56,680 --> 00:06:59,640 Speaker 3: feared a decade ago, and that is technology. 127 00:07:00,320 --> 00:07:07,360 Speaker 2: In other words, robots, well also automation and AI but yes, 128 00:07:07,640 --> 00:07:09,120 Speaker 2: also robots. 129 00:07:08,720 --> 00:07:12,000 Speaker 3: But I think some of those technologies have been developed, 130 00:07:12,480 --> 00:07:14,600 Speaker 3: they may hit at just the right time. 131 00:07:14,720 --> 00:07:17,840 Speaker 2: And it's no longer just factory jobs and other repetitive 132 00:07:17,960 --> 00:07:20,280 Speaker 2: tasks that are at risk of being replaced. 133 00:07:20,560 --> 00:07:23,720 Speaker 3: Especially now, for example, we're getting AI. AI is being 134 00:07:23,760 --> 00:07:26,920 Speaker 3: developed and then there's some scary things about that, but 135 00:07:27,400 --> 00:07:31,040 Speaker 3: that's going to influence people at more cognitive jobs. So 136 00:07:31,160 --> 00:07:34,760 Speaker 3: I don't think we should get too set in thinking, oh, 137 00:07:34,800 --> 00:07:36,840 Speaker 3: this labor shortage is going to go on. I do 138 00:07:36,920 --> 00:07:38,560 Speaker 3: think eventually we're going to see a lot of this 139 00:07:38,680 --> 00:07:42,360 Speaker 3: technology come in and be used by businesses. So I 140 00:07:42,400 --> 00:07:45,040 Speaker 3: still think people need to worry about getting the skills 141 00:07:45,080 --> 00:07:46,880 Speaker 3: that they need to get in order to get the 142 00:07:46,960 --> 00:07:50,400 Speaker 3: job they want, and just don't be setting back and saying, oh, 143 00:07:50,440 --> 00:07:52,280 Speaker 3: I can get a job anytime I want, because there's 144 00:07:52,280 --> 00:07:54,880 Speaker 3: so many jobs deal I think eventually it'll change. 145 00:07:56,560 --> 00:08:01,200 Speaker 2: So doctor Walden's advice, get that job now, Folks, strike 146 00:08:01,240 --> 00:08:04,760 Speaker 2: while the iron's hot. We'll be right back. 147 00:08:07,600 --> 00:08:11,560 Speaker 4: A strong work ethic takes pride in a job well done. 148 00:08:12,120 --> 00:08:15,840 Speaker 4: This is the kind of person you need. Express employment 149 00:08:15,880 --> 00:08:19,120 Speaker 4: professionals can help because in good times or bad, we 150 00:08:19,280 --> 00:08:22,080 Speaker 4: understand how critical it is to manage your business for 151 00:08:22,160 --> 00:08:26,920 Speaker 4: today with the right workforce. We offer hiring solutions to 152 00:08:26,960 --> 00:08:31,640 Speaker 4: fit changing demands. Express knows Jobs. Get to know Express 153 00:08:32,040 --> 00:08:35,559 Speaker 4: go to expresspros dot com to find a location near you. 154 00:08:38,200 --> 00:08:42,480 Speaker 2: We're back speaking with economist doctor Michael L. Walden, who 155 00:08:42,520 --> 00:08:45,960 Speaker 2: is just reflecting on the very strong post pandemic labor 156 00:08:46,000 --> 00:08:51,040 Speaker 2: market we're enjoying. But doctor Walden also acknowledges that even 157 00:08:51,040 --> 00:08:54,040 Speaker 2: in a blazing labor market that heavily favors the worker, 158 00:08:54,840 --> 00:08:58,960 Speaker 2: sometimes landing that job is easier said than done. 159 00:08:59,080 --> 00:09:03,160 Speaker 3: We are probably an era where what businesses want and 160 00:09:03,200 --> 00:09:05,600 Speaker 3: the skills that are needed are changing more rapidly than 161 00:09:05,640 --> 00:09:09,520 Speaker 3: any time before. And I think, what's going to happen. 162 00:09:09,600 --> 00:09:12,440 Speaker 3: This is not me saying this. The kind of jobs 163 00:09:12,679 --> 00:09:15,760 Speaker 3: that are going to be applied for people and the 164 00:09:15,840 --> 00:09:17,840 Speaker 3: skills that are needed are going to change. 165 00:09:19,200 --> 00:09:22,640 Speaker 2: What doctor Walden is talking about has already been playing 166 00:09:22,679 --> 00:09:26,280 Speaker 2: out far and wide. In just three decades. We've gone 167 00:09:26,280 --> 00:09:29,440 Speaker 2: from dial up modems to nearly every single job in 168 00:09:29,480 --> 00:09:33,840 Speaker 2: America requiring some level of computer proficiency. And we're not 169 00:09:33,920 --> 00:09:38,120 Speaker 2: just talking about office workers. Waitresses are taking our orders 170 00:09:38,120 --> 00:09:42,800 Speaker 2: on iPads, mechanics, are plugging our cars into diagnostic systems, 171 00:09:43,360 --> 00:09:47,840 Speaker 2: metal fabricators are using CNC machines and laser cutters. Even 172 00:09:47,880 --> 00:09:51,240 Speaker 2: our doctors are asking us to open wide, stick out 173 00:09:51,280 --> 00:09:54,760 Speaker 2: our tongues, and zoom in with our camera phones. And 174 00:09:54,840 --> 00:09:57,880 Speaker 2: while the adoption of these technologies has allowed for some 175 00:09:57,920 --> 00:10:03,040 Speaker 2: phenomenal advancements, it also poses some challenges to America's workforce. 176 00:10:03,440 --> 00:10:06,520 Speaker 3: And what I worry about is that we may very 177 00:10:06,520 --> 00:10:09,240 Speaker 3: well be looking down the road at the situation where 178 00:10:09,280 --> 00:10:12,720 Speaker 3: we have a large percentage of people who are say 179 00:10:12,720 --> 00:10:14,960 Speaker 3: middle aged, they've been working at their job for a 180 00:10:15,000 --> 00:10:17,959 Speaker 3: decade or two, they've got family to raise, et cetera, 181 00:10:18,400 --> 00:10:21,000 Speaker 3: who one day wake up and find their job's gone. 182 00:10:21,240 --> 00:10:23,400 Speaker 3: They may be taken over by technology, it may have 183 00:10:23,400 --> 00:10:26,600 Speaker 3: been changed in some way, and they need to get retrained, 184 00:10:26,920 --> 00:10:29,480 Speaker 3: and they don't have time to go to a four 185 00:10:29,559 --> 00:10:32,520 Speaker 3: year college spend four years retraining. So I think we 186 00:10:32,559 --> 00:10:35,800 Speaker 3: need to start looking at programs that get people retrained 187 00:10:35,920 --> 00:10:39,120 Speaker 3: in skills that are needed quickly. I think we need 188 00:10:39,160 --> 00:10:43,280 Speaker 3: to encourage businesses to set up their own training programs 189 00:10:43,280 --> 00:10:47,000 Speaker 3: for people. So I think I think the rapidity and 190 00:10:47,120 --> 00:10:49,600 Speaker 3: what skills are going to are going to change will 191 00:10:49,640 --> 00:10:55,520 Speaker 3: require a much more rapid and efficient educational system. 192 00:10:55,679 --> 00:10:58,760 Speaker 2: So to meet these swiftly changing times, we're going to 193 00:10:58,800 --> 00:11:03,000 Speaker 2: have to get clever about education and retraining. From the 194 00:11:03,080 --> 00:11:07,920 Speaker 2: returning popularity of trade schools to coding boot camps, Americans 195 00:11:07,960 --> 00:11:11,760 Speaker 2: are scrambling to stay ahead and take some agency in 196 00:11:11,800 --> 00:11:18,200 Speaker 2: their future career path. Now, of course, I wouldn't be 197 00:11:18,240 --> 00:11:21,040 Speaker 2: fulfilling my hosting duties here if I spoke to an 198 00:11:21,080 --> 00:11:24,800 Speaker 2: economist and didn't ask him to gaze into his crystal ball. 199 00:11:25,760 --> 00:11:28,360 Speaker 2: So I had doctor Walden with a question that seems 200 00:11:28,400 --> 00:11:32,360 Speaker 2: to be on everyone's minds these days. Will we have 201 00:11:32,440 --> 00:11:35,640 Speaker 2: a recession? And his response was. 202 00:11:35,760 --> 00:11:37,400 Speaker 3: When I'm in the camp that I think we will 203 00:11:37,480 --> 00:11:38,360 Speaker 3: toward the end of the year. 204 00:11:38,760 --> 00:11:42,520 Speaker 2: But before you get too concerned, he added some very 205 00:11:42,559 --> 00:11:43,840 Speaker 2: interesting caveats. 206 00:11:43,920 --> 00:11:47,360 Speaker 3: So there's one idea that economists that have been batting 207 00:11:47,480 --> 00:11:50,559 Speaker 3: around sort of in the background here is that if 208 00:11:50,600 --> 00:11:54,520 Speaker 3: we get a recession, we may actually see businesses not 209 00:11:54,679 --> 00:11:58,240 Speaker 3: layoff anyone, or maybe the layoff would be very minor 210 00:11:58,320 --> 00:12:00,880 Speaker 3: because they can cut their labor costs by simply cutting 211 00:12:00,880 --> 00:12:05,080 Speaker 3: the number of unfilled positions. So the forecast that I've seen, 212 00:12:05,600 --> 00:12:09,240 Speaker 3: even in the worst case scenario is maybe the unemployment 213 00:12:09,320 --> 00:12:13,120 Speaker 3: rate would go up to five percent and five percent 214 00:12:13,200 --> 00:12:16,280 Speaker 3: unemployment now, No, I don't want anyone listening to think 215 00:12:16,320 --> 00:12:18,480 Speaker 3: that I don't care about unemployed people. I do. My 216 00:12:18,559 --> 00:12:21,760 Speaker 3: father working in construction, he was unemployed a couple times, 217 00:12:21,800 --> 00:12:24,880 Speaker 3: always every year, and I remember living through that. But 218 00:12:25,160 --> 00:12:28,240 Speaker 3: if five percent of unemployment when I was in graduate 219 00:12:28,240 --> 00:12:32,280 Speaker 3: school fifty years ago, that was considered full employment. And 220 00:12:32,320 --> 00:12:35,000 Speaker 3: so if we get to five percent employment and that's 221 00:12:35,040 --> 00:12:38,120 Speaker 3: the worst during what I think will be an upcoming recession, 222 00:12:38,200 --> 00:12:41,440 Speaker 3: that would be great. So fingers crossed. If we do 223 00:12:41,520 --> 00:12:44,400 Speaker 3: have a recession, I think there'll be best case scenario, 224 00:12:44,440 --> 00:12:47,440 Speaker 3: there'll be no negative impact on the job market. But 225 00:12:47,800 --> 00:12:51,600 Speaker 3: if it's a normal situation, even minimal impact on the 226 00:12:51,679 --> 00:12:54,040 Speaker 3: job market, and then we'll get back. And then the 227 00:12:54,080 --> 00:12:56,800 Speaker 3: other thing, The other thing the companies are remembering is 228 00:12:58,280 --> 00:13:00,160 Speaker 3: they had to work hard to get the people have 229 00:13:00,400 --> 00:13:03,439 Speaker 3: because it's so competitive, and so a lot of companies 230 00:13:03,480 --> 00:13:06,480 Speaker 3: are reluctant to let people go because they're worried they 231 00:13:06,480 --> 00:13:08,720 Speaker 3: can't get them back when times get back to normal 232 00:13:08,760 --> 00:13:10,480 Speaker 3: and the economy blooms again. 233 00:13:16,720 --> 00:13:19,640 Speaker 2: Only time will tell how things play out, But I 234 00:13:19,679 --> 00:13:22,840 Speaker 2: hope for everyone's sake that doctor Walden is right and 235 00:13:22,920 --> 00:13:25,440 Speaker 2: things won't be as bad as some of these doomsday 236 00:13:25,440 --> 00:13:29,440 Speaker 2: pundits have been predicting that this labor market will continue 237 00:13:29,520 --> 00:13:34,520 Speaker 2: to roar. But then, just as we were wrapping up 238 00:13:34,559 --> 00:13:38,080 Speaker 2: our interview, I noticed hanging in the background of his 239 00:13:38,160 --> 00:13:42,240 Speaker 2: office a long row of baseball caps, all of them 240 00:13:42,320 --> 00:13:46,400 Speaker 2: bearing the logo of the Cincinnati Reds. And if you 241 00:13:46,480 --> 00:13:50,040 Speaker 2: know anything about the Cincinnati Reds, then you know you 242 00:13:50,240 --> 00:13:53,400 Speaker 2: have to be an eternal optimist to keep rooting for them. 243 00:13:53,679 --> 00:13:56,400 Speaker 3: My Reds had a horrible season last year. I think 244 00:13:56,440 --> 00:13:59,120 Speaker 3: they lost one hundred and two games, But I'm always 245 00:13:59,200 --> 00:14:02,920 Speaker 3: optimistic about a lot of young players, so I'm looking 246 00:14:02,960 --> 00:14:05,360 Speaker 3: for good things from the Reds. Maybe not World Series, 247 00:14:05,360 --> 00:14:06,760 Speaker 3: but at least being competitive. 248 00:14:07,679 --> 00:14:12,080 Speaker 2: So maybe we should take doctor Waldon's positive economic outlook 249 00:14:12,600 --> 00:14:16,600 Speaker 2: with a grain of salt. Or maybe he's completely right 250 00:14:17,200 --> 00:14:21,080 Speaker 2: and we'll see the Reds in the playoffs. For on 251 00:14:21,160 --> 00:14:24,560 Speaker 2: the job, I'm Avery Thompson. I'll see you down the road.