Economic warning signs in Middle TN
WKRN News 2
[{'start': '0.080', 'end': '3.840', 'text': 'Well, recently we told you about mass'}, {'start': '2.080', 'end': '5.839', 'text': 'layoffs, especially in Rutherford'}, {'start': '3.840', 'end': '7.839', 'text': 'County. And local economics professor'}, {'start': '5.839', 'end': '10.320', 'text': 'says that more economic troubles are'}, {'start': '7.839', 'end': '13.040', 'text': 'likely ahead. News 2 Sam Kmenti is'}, {'start': '10.320', 'end': '15.839', 'text': 'tracking the economy. When you see a a'}, {'start': '13.040', 'end': '18.400', 'text': 'decline in investment, when you see uh'}, {'start': '15.839', 'end': '20.720', 'text': 'factories laying off workers or cutting'}, {'start': '18.400', 'end': '23.920', 'text': "back on investments, um it's definitely"}, {'start': '20.720', 'end': '26.160', 'text': 'a concern. Last month, over 400 workers'}, {'start': '23.920', 'end': '28.240', 'text': 'were laid off from the Rutherford County'}, {'start': '26.160', 'end': '30.080', 'text': 'Fulfillment Center. And in Leverne,'}, {'start': '28.240', 'end': '32.640', 'text': 'Bridgestone has closed their'}, {'start': '30.080', 'end': '35.280', 'text': 'manufacturing facility, costing around'}, {'start': '32.640', 'end': '37.920', 'text': '700 people their jobs. A middle'}, {'start': '35.280', 'end': '40.480', 'text': 'Tennessee state economics professor says'}, {'start': '37.920', 'end': '43.120', 'text': 'more job losses are going to come in'}, {'start': '40.480', 'end': '45.120', 'text': "three waves because of President Trump's"}, {'start': '43.120', 'end': '47.120', 'text': 'tariffs. The second wave is going to be'}, {'start': '45.120', 'end': '49.360', 'text': 'those factories in Middle Tennessee that'}, {'start': '47.120', 'end': '51.200', 'text': 'need to import'}, {'start': '49.360', 'end': '53.199', 'text': 'uh inputs. Those firms are going to be'}, {'start': '51.200', 'end': '54.960', 'text': "hurt by those higher cost. They're going"}, {'start': '53.199', 'end': '56.960', 'text': "to have to raise prices. They're going"}, {'start': '54.960', 'end': '58.160', 'text': 'to sell less of their goods and services'}, {'start': '56.960', 'end': '60.640', 'text': "and they're going to have to restrict"}, {'start': '58.160', 'end': '63.440', 'text': 'employment. Smith says any economic'}, {'start': '60.640', 'end': '65.600', 'text': 'gains from tariffs will be short-lived.'}, {'start': '63.440', 'end': '67.520', 'text': 'More layoffs are likely coming. The'}, {'start': '65.600', 'end': '69.760', 'text': 'Goldman Sachs report that was just'}, {'start': '67.520', 'end': '72.159', 'text': 'looking at the 10% tariff, assuming no'}, {'start': '69.760', 'end': '74.400', 'text': 'recession and no retaliation, uh,'}, {'start': '72.159', 'end': '76.799', 'text': 'estimates that America will lose five'}, {'start': '74.400', 'end': '79.040', 'text': 'jobs for every one job saved by tariffs.'}, {'start': '76.799', 'end': '82.000', 'text': "Another sign of trouble, Tennessee's"}, {'start': '79.040', 'end': '85.360', 'text': 'sales tax revenue from March dropped'}, {'start': '82.000', 'end': '87.759', 'text': 'about 3% from last March according to a'}, {'start': '85.360', 'end': '91.040', 'text': 'recent state report and total tax'}, {'start': '87.759', 'end': '93.600', 'text': 'revenue went down more than 4%. With so'}, {'start': '91.040', 'end': '96.159', 'text': 'much uncertainty, consumers are spending'}, {'start': '93.600', 'end': '98.320', 'text': 'less. When asked for signs of optimism,'}, {'start': '96.159', 'end': '99.920', 'text': "Smith says it's where we live. He"}, {'start': '98.320', 'end': '102.000', 'text': 'believes Middle Tennessee is well'}, {'start': '99.920', 'end': '104.560', 'text': 'equipped to handle turnover in our'}, {'start': '102.000', 'end': '106.240', 'text': "workforce thanks to the state's robust"}, {'start': '104.560', 'end': '108.880', 'text': "job market. There's a lot of service"}, {'start': '106.240', 'end': '111.840', 'text': 'sector jobs serving other Americans that'}, {'start': '108.880', 'end': '114.479', 'text': 'um are are are widely available and can'}, {'start': '111.840', 'end': '119.119', 'text': 'be better sheltered from international'}, {'start': '114.479', 'end': '119.119', 'text': 'trade disturbances. Sam Kmenti, News'}]