Americans filing for unemployment hits 2-month high
WFMJ
[{'start': '0.000', 'end': '4.080', 'text': 'Americans filing for unemployment'}, {'start': '1.680', 'end': '6.720', 'text': 'benefits grows to a two-month high. Last'}, {'start': '4.080', 'end': '9.760', 'text': "week's jobless claims are in and they"}, {'start': '6.720', 'end': '11.759', 'text': "jumped by 18,000. Overall, April's jobs"}, {'start': '9.760', 'end': '13.920', 'text': 'report is expected to show that hiring'}, {'start': '11.759', 'end': '15.679', 'text': 'slowed down for a second month in a row'}, {'start': '13.920', 'end': '18.240', 'text': "and hit a low that we really haven't"}, {'start': '15.679', 'end': '20.160', 'text': "seen since co President Trump's tariffs"}, {'start': '18.240', 'end': '22.080', 'text': 'and the uncertainty surrounding them may'}, {'start': '20.160', 'end': '24.000', 'text': 'be making economic forecasting a little'}, {'start': '22.080', 'end': '25.519', 'text': 'more difficult here. Here to talk about'}, {'start': '24.000', 'end': '26.960', 'text': 'what we should be watching for and some'}, {'start': '25.519', 'end': '29.439', 'text': "of the different signs that we're seeing"}, {'start': '26.960', 'end': '31.039', 'text': 'in the economy, 21 News financial expert'}, {'start': '29.439', 'end': '34.199', 'text': 'Chris Mediate. Chris, thank you for'}, {'start': '31.039', 'end': '34.199', 'text': 'being here.'}, {'start': '34.320', 'end': '38.079', 'text': 'Great to be here. Yes. So, first, how'}, {'start': '36.399', 'end': '39.600', 'text': 'does the jobs report reflect how the'}, {'start': '38.079', 'end': '42.160', 'text': 'state of the economy is doing? What'}, {'start': '39.600', 'end': '45.120', 'text': 'people should be doing in terms of their'}, {'start': '42.160', 'end': '46.960', 'text': 'finances when you see this report?'}, {'start': '45.120', 'end': '49.039', 'text': 'The jobs report, you know, again, kind'}, {'start': '46.960', 'end': '51.760', 'text': 'of unexpected. I mean, we looked at the'}, {'start': '49.039', 'end': '53.440', 'text': "job openings report. So, it it's showing"}, {'start': '51.760', 'end': '56.480', 'text': 'Lindsay that the labor market is'}, {'start': '53.440', 'end': '58.239', 'text': 'definitely uh cooling off. And you know,'}, {'start': '56.480', 'end': '60.160', 'text': 'you could look at that in a couple ways.'}, {'start': '58.239', 'end': '62.160', 'text': 'Um, you know, if you look at and you'}, {'start': '60.160', 'end': '64.159', 'text': 'think of history of recessions, nobody'}, {'start': '62.160', 'end': '65.760', 'text': "likes to hear the rword, and I'm not"}, {'start': '64.159', 'end': '68.520', 'text': "saying we're anywhere near there at this"}, {'start': '65.760', 'end': '71.439', 'text': "point, but again, we we can't be in a"}, {'start': '68.520', 'end': '73.680', 'text': 'recession until, you know, the jobs the'}, {'start': '71.439', 'end': '75.280', 'text': 'job market completely pretty much kind'}, {'start': '73.680', 'end': '77.759', 'text': "of collapses. And we're not there yet."}, {'start': '75.280', 'end': '79.759', 'text': 'So these readings are are not great, but'}, {'start': '77.759', 'end': '82.560', 'text': "what they're doing is is they're showing"}, {'start': '79.759', 'end': '84.960', 'text': 'definite signs of losing momentum. So'}, {'start': '82.560', 'end': '87.280', 'text': 'when you think of the the the economy as'}, {'start': '84.960', 'end': '89.680', 'text': 'a whole, you know, the the consumer and'}, {'start': '87.280', 'end': '92.720', 'text': 'and our job market makes up a really big'}, {'start': '89.680', 'end': '95.119', 'text': 'indicator for us going forward. So this'}, {'start': '92.720', 'end': '97.119', 'text': 'is going to be something to watch. But'}, {'start': '95.119', 'end': '99.119', 'text': 'on the flip side, it could, you know, we'}, {'start': '97.119', 'end': '101.200', 'text': 'could be celebrating a cooling labor'}, {'start': '99.119', 'end': '102.960', 'text': 'market. And as you can see, the stock'}, {'start': '101.200', 'end': '104.400', 'text': "market's reaction today, Lindsay, has"}, {'start': '102.960', 'end': '106.000', 'text': "been pretty much so that it's kind of"}, {'start': '104.400', 'end': '107.920', 'text': 'maybe getting in line for the Federal'}, {'start': '106.000', 'end': '109.920', 'text': 'Reserve to continue their uh interest'}, {'start': '107.920', 'end': '111.600', 'text': 'rate cutting cycle. So, you know, there'}, {'start': '109.920', 'end': '113.439', 'text': 'could be some positives out of this as'}, {'start': '111.600', 'end': '115.439', 'text': 'well. Do you think companies are slowing'}, {'start': '113.439', 'end': '117.360', 'text': 'down on hiring to brace for the tariffs'}, {'start': '115.439', 'end': '118.960', 'text': 'or is it just too much uncertainty for'}, {'start': '117.360', 'end': '121.759', 'text': 'them to make too many commitments right'}, {'start': '118.960', 'end': '124.000', 'text': "now? I think it's uncertainty more than"}, {'start': '121.759', 'end': '125.680', 'text': 'it is anything. Um because you know'}, {'start': '124.000', 'end': '128.720', 'text': "again we're we're seeing the job"}, {'start': '125.680', 'end': '130.640', 'text': "openings slowed down but again it hasn't"}, {'start': '128.720', 'end': '132.239', 'text': "completely rolled over. So it doesn't"}, {'start': '130.640', 'end': '135.200', 'text': "mean that we're not hiring. It just"}, {'start': '132.239', 'end': '137.360', 'text': "means maybe it it's slower hiring. And"}, {'start': '135.200', 'end': '140.160', 'text': 'then when you see companies no longer'}, {'start': '137.360', 'end': '142.560', 'text': 'hire and then employees staying put'}, {'start': '140.160', 'end': '144.800', 'text': "that's usually kind of a kind of a a bad"}, {'start': '142.560', 'end': '147.040', 'text': "sign. So I think right now it's creating"}, {'start': '144.800', 'end': '150.560', 'text': 'the uncertainty. Again, we keep talking'}, {'start': '147.040', 'end': '153.519', 'text': "about tariffs and we haven't really"}, {'start': '150.560', 'end': '155.680', 'text': 'priced in the impact of this yet. So,'}, {'start': '153.519', 'end': '157.280', 'text': 'you know, the first couple weeks of this'}, {'start': '155.680', 'end': '158.879', 'text': 'month will be kind of interesting with'}, {'start': '157.280', 'end': '160.640', 'text': "some of the data that's coming out"}, {'start': '158.879', 'end': '164.080', 'text': "because we'll start to see the tariffs"}, {'start': '160.640', 'end': '166.239', 'text': 'and maybe um a a cycle now of like,'}, {'start': '164.080', 'end': '168.080', 'text': "okay, what's this impact? And I and I"}, {'start': '166.239', 'end': '169.680', 'text': "think that's I think more and more or"}, {'start': '168.080', 'end': '172.000', 'text': 'less I think you hit the nail on the'}, {'start': '169.680', 'end': '174.080', 'text': 'head. I think employers are just kind'}, {'start': '172.000', 'end': '175.920', 'text': 'of, you know, kind of slowing things'}, {'start': '174.080', 'end': '177.519', 'text': 'down to kind of wait and see what kind'}, {'start': '175.920', 'end': '179.040', 'text': 'of outcome uh happens from these'}, {'start': '177.519', 'end': '180.480', 'text': "tariffs. You know, we've had a lot of"}, {'start': '179.040', 'end': '182.080', 'text': 'talk about the interest rates, what the'}, {'start': '180.480', 'end': '183.519', 'text': "Fed will do. So, I'm curious what you"}, {'start': '182.080', 'end': '187.440', 'text': 'think the Federal Reserve is going to'}, {'start': '183.519', 'end': '189.680', 'text': 'do. Will it even react to this data?'}, {'start': '187.440', 'end': '191.519', 'text': 'Mo most likely not. Probably not. Not'}, {'start': '189.680', 'end': '193.200', 'text': 'this month. I think I think May, you'}, {'start': '191.519', 'end': '196.080', 'text': 'know, everybody was hoping for a rate'}, {'start': '193.200', 'end': '197.920', 'text': "cut cycle to begin again. I think it's"}, {'start': '196.080', 'end': '200.879', 'text': 'going to be continued wait and see.'}, {'start': '197.920', 'end': '204.319', 'text': 'Lindsay, uh, I if if you read anything'}, {'start': '200.879', 'end': '207.599', 'text': 'into this, we may not see unless the'}, {'start': '204.319', 'end': '209.280', 'text': 'economy really starts to roll over and I'}, {'start': '207.599', 'end': '211.040', 'text': 'think we talked about that that last'}, {'start': '209.280', 'end': '213.120', 'text': 'time that the Federal Reserve is willing'}, {'start': '211.040', 'end': '214.799', 'text': 'to step in. The question is when are'}, {'start': '213.120', 'end': '216.640', 'text': 'they going to step in and what are they'}, {'start': '214.799', 'end': '219.760', 'text': "going to have to see? So, I don't think"}, {'start': '216.640', 'end': '221.680', 'text': 'the data right now is enough for them to'}, {'start': '219.760', 'end': '223.920', 'text': "get involved because again, I don't"}, {'start': '221.680', 'end': '225.840', 'text': "think it's a terrible report. Tomorrow,"}, {'start': '223.920', 'end': '227.480', 'text': "we have more jobs data. I think it's"}, {'start': '225.840', 'end': '230.480', 'text': 'going to be important from a market'}, {'start': '227.480', 'end': '233.519', 'text': 'perspective to see how it how the market'}, {'start': '230.480', 'end': '235.440', 'text': 'reacts to either a too cold number or a'}, {'start': '233.519', 'end': '236.799', 'text': "just right number. If it's too cold, I"}, {'start': '235.440', 'end': '238.720', 'text': 'think the signs are going to start to'}, {'start': '236.799', 'end': '241.120', 'text': "point to, hey, we're really starting to"}, {'start': '238.720', 'end': '242.400', 'text': 'come to a slowdown. The jobs market is'}, {'start': '241.120', 'end': '244.239', 'text': "starting to roll over. I think that's"}, {'start': '242.400', 'end': '246.239', 'text': 'what the Fed is going to watch. I think,'}, {'start': '244.239', 'end': '248.159', 'text': 'you know, tomorrow is going to be'}, {'start': '246.239', 'end': '249.280', 'text': "another big indicator, but I don't think"}, {'start': '248.159', 'end': '250.720', 'text': "I don't think they're going to do"}, {'start': '249.280', 'end': '252.319', 'text': 'anything in May. I think pretty much'}, {'start': '250.720', 'end': '253.360', 'text': "we're going to stay put. Chris Media,"}, {'start': '252.319', 'end': '255.360', 'text': 'thank you so much for joining us as'}, {'start': '253.360', 'end': '257.760', 'text': 'always right here at 5. Yep. My'}, {'start': '255.360', 'end': '257.760', 'text': 'pleasure. Thank'}]