0:01 who are you and where are you going what do you [Music] want hello and welcome to people making money I'm your host Kevin bemel and we're here every Wednesday at 10: a.m. Pacific time to talk about matters relating to business professions and wealth building all of those uh you know
0:37 Financial topics so today is our monthly uh is my monthly econ uh show economic Echoes where I go through the various economic indicators and help break down how these will actually affect you um on an individual level so for those of you who have um you know seen this show or any of my shows before we don't live according to the you know National Consumer Price Index it's it's meaningless for most of our Lives
1:14 because how it's calculated is not how we live it's it's it's aggregating a whole lot of data and so I'm going to take you through various indicators and hopefully this will help you understand not only how how things have what things have happened to you in the past but what decisions you may need to make as you look toward the Future Okay so uh we're g go g to go ahead and and jump right in
1:50 here okay so always start I always start out with the um Consumer Price Index and let's see okay there we go so um what you can see here is that um as of uh this these are the figures through uh or for September for last month okay so the Consumer Price deck uh the CPI um all items went up
2:25 2.4% now this was uh about a .1% drop from last month so you know for all intents and purposes um inflation has stayed at least nationally has stayed essentially even the um uh the inflation rate for food is 2.3% now the cost of energy went down almost 7% which is likely what held inflation in check because you as you can see all items less food and energy went up
3:00 3.3% so everything but um food and energy went up significantly more than the overall rate but because energy went down so much um that that's what what what you know kept inflation overall in checks so let's first of all now now let's let's drill down into these so food at home the cost of food at home went up only 1.3% whereas food away from home restaurants Etc went up almost 4% so and
3:35 this this this is a this is a similar Trend to last month so if you're like me and you eat at home so you know we we probably didn't experience as big a a you know price increase or we didn't experience inflation as as um as badly as people who eat out in restaurants okay so food at home and again it depends on what you eat so if you eat uh you know poultry meat fish eggs so that went up quite a bit now I eat a little
4:10 bit of this but but I don't eat a lot of uh meat and poultry I don't think it's going to take us yeah it won't take us down into the um unfortunately into the detail of that okay dairy products went up only a half a percent fruits and vegetables went up only 7% so you know eating a healthy diet turns out to be uh you know less costly so uh non-alcoholic beverages went up just 1.3% and other food items went up 0 4% you'll notice by the way that cereals and bakery products essentially were unchanged so that's what's going on with
4:45 food now let's look at energy okay so energy Commodities went down look at this 15.3% okay that was offset by Energy Services going up three .4% okay so what is it in energy Commodities that went down so much well fuel oil went down 22.4% so if you're in the Northeast and you need fuel oil to heat your home um it's kind of early in the season so maybe that's why it dropped so much but
5:20 but the cost dropped significantly but gasoline also dropped by 15.3% so that's really you know for those of us who drive cars that that's you know mainly what kept inflation and check it appears now you know if you take public transportation so you didn't benefit from the cost of gasoline decreasing because I I would venture to say that uh transport public transportation uh you know organizations didn't lower their prices because their fuel costs dropped okay um now let's go
5:57 back to uh energy services so electricity went up almost 4% 3.7% and natural gas went up 2% so you know uh if you have an all electric home so you experienced inflation uh at a higher rate than those of us who have a combination electric and gas home so in my house um I I have electricity of course but my uh Heating and my uh range my cooktop is gas my oven is electricity so because I have a combination for me um there you know
6:34 Energy Services went up at a more moderate Pace because uh natural gas only went up by 0 2% Okay so we've looked at food and energy now let's look at all other items so Commodities less food and energy actually declined a percent whereas Services less Energy Services went up by 4.7 almost 5% again let's drill down okay so what went what went up and what went down well apparel went up almost 2% new vehicles went down
7:09 a little over 1% used cars went down it doesn't want to for some reason it doesn't want to show me the oops hold on let's okay it doesn't want to for some reason it doesn't want to show me that okay so I'm not sure why this thing is doing this okay so um okay so tobacco products went up 8% so if you're a smoker you you experienced inflation at a much higher rate now what you know cars went down in in in price
7:44 um 1.3% for new vehicles it looks like about 5% for yeah 5.1% for used vehicles but if you didn't buy a car you didn't get the the benefit of um you know the price of cars dropping on the other hand Medical Care uh went up 1.6% okay so if you're you know again not not not a huge increase okay alcoholic beverages went up a percent and a half so um you know rather rather moderate uh levels for Commodities uh
8:21 less less food and energy okay now Services less food and energy okay Housing Shelter went up by five almost 5% 4.9 okay Medical Care Services 3.6% transportation services went up 88.5% okay so um if you're using public transportation for example I when I was mentioning a minute ago while the cost of while the price of gasoline dropped 15.3% last month your cost of Transportation went up um presumably 8
8:56 and a half% or some some part of public transportation right so again that's a huge split that's a 23% differential between um you know gasoline versus uh transportation services so so so again that's why when you drill down in this if if if you are um you know someone who uses public transportation um eats a diet heavy in meat and poultry and you smoke so you may be thinking 2.4% what's that about I
9:34 think my costs went up you know double that or maybe more yes for you they did because of the basket of goods that you buy okay so this 2.4% is based on all of these things we just looked at so for example that a used car went down 5% uh impacts this and holds it down of course if you didn't buy a car you're experiencing in at at a higher rate okay so now let's let's go back and let's look at uh inflation on the um on the on the local
10:13 level okay and here we go okay so inflation on the local level um I I look at I I use Los Angeles as an example but you can find um inflation for your locality all you need to do is is is do a internet search CPI and then put you know your location um San Diego Omaha Miami uh Northfolk Virginia wherever you are okay so here in Los Angeles okay um we experienced inflation
10:49 overall of 2.8% so higher than the national average food prices went up 3.4% Energy prices declined 3.2% okay so um we're you know this and and by the way this lower decline in Energy prices which is I think reflected a lower decline of gasoline prices um that accounts for why um inflation is higher in the Greater Los Angeles area Los Angeles Long Beach Anaheim than it
11:24 is nationally so um you can see that um food um food prices went up 6% for the month of September food prices at home increased 8% um and now this is interesting this is due to higher prices for fruits and vegetables of 4.8% remember that on the national level they went up only about 1% okay meat fish at poultry and eggs went up a percent and a half percent in the Los Angeles area they went up much higher than that in the um in in the
11:59 national uh average okay food prices away from home went up 0.4% for the same period so a much more moderate increase in so looks like I should have been eating out more uh last month uh because I as I mentioned before I eat a diet heavy in fruits and vegetables when it went up which went up almost 5 per. okay so um now looking at energy okay energy index Advanced 2% for September this was due mainly to higher gasoline prices okay prices for electricity we unchanged prices for natural gas decreased
12:37 3% okay so while gasoline prices declined nationally here in um in the Los Angeles area they actually went up a little bit okay and and now that I think of it I didn't notice gasoline prices going down last month or even the beginning of this month so there you go right energy prices declined 133% year-over-year um now that's because overall gasoline prices have decreased almost 21% year-over-year and prices paid for natural gas have decreased 10%
13:14 year-over-year whereas electricity has essentially been flat okay so so these are the kind this is this is why I encourage you to take 20 minutes use the links that you'll find in the show notes for this show and and look at your situation so you can understand it's all good and well when the news you know when when the newspaper well probably don't read a newspaper but but when you know the news being reported says well inflation went up 2.4% um but that doesn't have a big impact on us locally okay and here here
13:49 you can look at uh you know in the the one month and the 12-month increases for this year you can see that in January and inflation was at 25% but since then it's been higher than that so inflation is essentially increased here in uh the Los Angeles area and um and and you can see every month with the exception of June where inflation went down two ten0 of a percent it's it's gone up at least a little bit although in the last few months it's it it's moderated quite a
14:24 bit from the first four months of the year okay so that that is um the inflation the local inflation picture all right now let's from there go and look at uh the income picture I think that's what I want right real earnings yeah okay here we go okay all right now we're going to look first at the national um the national
14:59 situation so um as has been the case um for the last several months um uh current and real earnings for all employees on private non-farm payrolls went up by you know two cents per hour from August to September or essentially two10 of a percent okay um on a um weekly basis they actually drop stopped 40 cents an hour or or they went down 0.1% now why is this different it it has
15:36 to do with the number of hours work so you'll notice that um although the uh hourly wage went up by two cents because ours worked went down by a tenth of a percent when you look at it on a uh weekly basis okay it actually comes out to lower weekly earnings okay um and uh okay so so in in point of fact n as we look at it aggregated nationally we really you
16:12 know because um ours worked decreased even though hourly pay went up slightly people you know as a country we didn't really gain any ground in September in in terms of inflation went up um you know basically um 0.2% but um but weekly earnings went down 0.1% so you know in that in in that sense um you know nationally things were you know kind of kind of evened out okay
16:47 so let's now look at the local um picture for um for earnings and yeah okay so this only comes out quarterly so we haven't looked at this for the last couple of months um and this is data only through you'll notice here the second quarter oops let me let me enlarge this sorry about that okay um so you'll notice this is only through the second quarter of this year um so we won't get new data now until December which will reflect
17:24 data through the third quarter of this year I.E through the end of September so this is through essentially the end of June and you'll notice that the darker the color of the state the higher the increase um in in uh uh personal income okay so um California Utah Idaho Nebraska Kansas Mississippi Tennessee South Carolina New York and Michigan those that they were all in the top quintile the top 20% of personal income increases now the lightest colors
17:59 are in the bottom 20% okay and that's Louisiana 4.2 which is still pretty good by the way Indiana 4.2 West Virginia 3.9 Connecticut 4.2 now Massachusetts is down there pretty close to the bottom 2.8 New Hampshire four uh North Dakota only 2.3 so that is the bottom South Dakota 4.1 Minnesota 4.1 Alaska 4.1 so what you can see is although the bottom is to 2.3 actually only two states fall below
18:34 a 4% increase in um uh annualized um personal income increases so um the good news is that because the the an well I'm gonna I'm going to go you know because the annual inflation rate has stayed Fair L moderate this year for most people in the country on a state byst state basis it looks like
19:09 we're at least keeping Pace with inflation so we're not losing ground anymore even if we're not particularly gaining ground okay so California at 6.5% for example where I live so inflation uh as you recall um in in Los Angeles 2.8% of course that was for September it was higher back in the the the second quarter um and and and but nonetheless I think even in in California people are
19:44 gaining a little bit of ground I think um inflation was around uh four or five% earlier this year in California so Californians are gaining a little ground um but States like um Alaska Indiana West Virginia okay they're probably just kind of coming out even whereas North Dakota is probably losing ground as may be Massachusetts depending on what their local inflation rates are okay so again this is why I encourage you dig into the local figures so if you're feeling like
20:20 um you're you're not gaining any ground despite inflation moderating it may be because the inflation rate in your local is is is high enough that even though personal income in your state is increasing the the inflation is high enough that it's essentially offsetting it and especially inflation on the things that you that you particular in particular buy right so uh you know again I'm I'm I'm doing a little bit of apples and oranges but let's say that
20:56 you know you you you eat a diet get heavy in meat and poultry you smoke and you ride public transportation so um those three went up so much that even if you had um a a personal income increase of 6% or 6.6 6.7 South Carolina was the top one 6.9 you may not feel like you gained any ground because the expenses that you incur are experiencing higher inflation than than kind of the you know the
21:31 average and so you know you're you know you're you're just Treading Water whereas other people um who buy different things may be gaining ground okay so next let's go with uh unemployment and okay here we go Okay so um only the um national unemployment figures were updated for September they
22:06 haven't updated the state figures yet so um I'm I'm not going to look at this the state byst state figures because those are unchanged from what we talked about last month um but the inflation I'm sorry the unemployment rate in September overall for the country ticked down to 4.1% from where's August from 4 .2% so in July it hit a little Peak there of 4.3 since then it's come down a little bit okay now that's the total now let's look at look at it by demographics so for um men 20 years and older okay
22:43 September 3.7 lower than the national average which is down from 4% in August so for men 20 years and older things have gotten better okay um for women okay women the unemploy rate is actually 3.6% better than for men um and and it was much better in August at 3.7% than the 4% for men okay so um women are experiencing lower unemployment again this is on a national picture than than men um now looking at teenagers okay um
23:20 in in August they had um where's August here we go okay August 14.1% in September it ticked up just just a little bit more to 14.3% so you know probably and you'll notice going from July at 12.4 to a I talked about this last month to August at 14.1 that probably reflects uh teenagers quitting jobs and and you know because they're going back to school so um um at this point you know as of September probably most most uh 16 and
23:55 19 year olds are back in school and so we wouldn't expect to see a particularly uh dramatic change in in unemployment for teenagers okay the unemployment rate for whites okay September 3.6% down from 3.8% in August so a little bit lower for black or African-Americans um it's the unemployment weight was 5.7% down from 6.1% so almost it dropped almost a half a percent since August and it dropped uh over a half a percent since July okay
24:31 so the employment picture for blacks nationally uh is is improving okay now for Asians okay here we have oops where's the Asian here we go okay here we go so I'm GNA take off the whes because they're too close Okay so Asian unemployment for September 4.1% essentially matching the national average but that's up from well no it's it's it's even with August at 4.1% okay so so for Asians employment has has
25:06 remained pretty steady and then finally for Hispanics or and Latinos okay unemployment down to 5.1% from 5.5% so it dropped almost a half a percent. so again the employment picture for blacks and Asians Or Hispanic I me blacks and Hispanics or Latinos have dropped whereas for Asians it's it was flat and and for whites it dropped just just a little bit okay so um why is that the case you know can't
25:42 can't really say I mean these changes aren't huge um but um but they but they are uh you know they may they they tell you kind of what how how you may be experiencing uh unemployment okay so now let's look at the labor force participation rate now when we talk about unemployment and such we're talking specifically about um um uh for the well any I'm I'm GNA skip that never mind okay all right so the
26:19 labor force participation rate in September 6 62.7% um it's been that way for the last several months so the labor force participation rate hasn't changed now that's that's that means then that um SI you know with the um drop in Unemployment uh nationally okay of of of a tenth of percent that actually means that more people are working now okay because the
26:57 the drop in the labor force participation there was no drop in the labor lab labor particip force participation rate that would account for lower unemployment okay you can get lower unemployment in two ways one is by having more people working the other is by having fewer people looking for work and dropping out of the labor force okay all right so again looking at men okay labor force participation rate at 70.4% um and that's um uh up from 70.3% but you will notice by the way
27:34 that from earlier um in in the uh last two decades the labor force participation rate for men was above 75% until around September of 2008 when we had the the recession and it really hasn't recovered since then and indeed it has declined declined declined declined um since then and and the labor force participation rate for men has not recovered from its uh pre uh pandemic uh to its pre pandemic level of over 71%
28:11 okay now looking at women okay so the labor force participation rate for women is is down to 58.9% from 59.2% so it dropped a little bit but not not a whole lot however um this may be why we saw a bigger drop in the unemployment for women it's because some women left the work for left the right the workforce and therefore there's U there's fewer women searching for jobs and and therefore the unemployment rate
28:46 went down um for women too okay um we they that you know employment hasn't Rec well I guess it's yeah it's pretty much recovered uh to the you know uh pre um to the prepandemic levels but like with men um the labor force participation rate for women post the 2008 recession it has not recovered to that level so you'll notice it was over 60% for that that um that time period prior
29:22 to the recession and since then it's been trending down although for women it is trend in uh back up whereas for men it's sort of bumping along right around the 70% level and doesn't seem to be changing okay and then for uh for teenagers okay so um their labor force participation rate was 37.2% um that's up uh quite a bit from August where when it was 35.7 so it's up a percent and a half basically Okay so a
29:58 lot of teenagers went you know relatively speaking a lot of teenagers joined the workforce um nonetheless oh and and that's why um un that's at least part of the reason why um unemployment for teenagers went up because more teenagers came into the workforce and so there's more of them looking for jobs and so even if a lot of them got jobs that still was outweigh by the number who came in looking for jobs um the teenage labor force participation rate um not not only has recovered post pandemic it's actually higher than it
30:34 was during uh prean I should say has recovered yeah has recovered post pandemic but it's higher than it was pre pandemic however it has not recovered from the 2008 recession when generally speaking it was over 40% okay so you can see there have been some permanent shifts in the labor force participation rate okay uh now let's look at okay labor force participation for whites looks like it was pretty much on par with what it was last month yeah 62.3 or 62.4 in this in September 62.3
31:12 the previous month okay for blacks or African-Americans okay uh labor force participation rate 62.9 um up oops July August okay uh um up a little bit from August at 62.7 okay Asian labor force participation rate went down to 65.3 oh well okay from 65.4 last month so was basically even with last month the big drop was from from June when it was almost 66 now it's
31:50 it's almost a percent lower at uh 65.3 okay so Asians are dropping out of the workforce o over recent months for some reason and then finally Hispanics and Latinos okay labor force participation rate U among Hispanics and Latinos 7 67.4% last month down from 67.8% so um that can be that's part of the reason why by the way um his again Hispanics saw a bigger drop in unemployment than than other demographic
32:25 groups okay because um some Hispanics have left the labor force now it's interesting to note that Hispanics and Latinos and Asians have a higher Workforce participation rate than whites and blacks or African-Americans have okay and and and you'll notice um that is the case historically um for um Hispanics and Latinos over you know overall um however the for Asians and whites the Divergence really has happened um kind of post
33:03 pandemic um and and you know don't know exactly why that is the case um but it has been the case whereas um for um for blacks the labor force participation rate generally speaking has been lower um although post pandemic it's tended to converge with with uh with whites Okay so um there are obviously some demographic changes going on in the United States that make things different now than they were uh 20 20 years before okay
33:43 next okay next we're going to look at employment by industry and again I don't have um the state figures for um for uh labor force participation they they weren't released yet um nor were the um um the local or state figures for industry uh employment by industry okay so um this what you see here is basically I think mimicking what we've been seeing for most of the year so the
34:18 biggest increases in um employment are coming in construction um where there was a net change of 25,00 000 a net increase in 25,000 in September in um private education and Health Services 81,000 job increase Leisure and Hospitality a 78,000 job increase and government a 31,000 job increase now if you add um private education and Health Services 81 with uh government 31 you you get um
34:55 about 110 111 12,00 000 of of the job increase if you add um Leisure and entertainment 78,000 to construction 25,000 you get a little less you get about 100,000 103,000 jobs so you can see that um that government W that Private health public education and Health Services is is largely a government fueled employment increase so employment increases are coming um almost as much from from
35:32 government increasing as it is from the private sector increasing okay so let's Okay and then you'll notice the laggards are manufacturing again we lost manufacturing jobs 7,000 and transportation and warehousing we lost 8600 jobs okay so those were the two worst so let's look at these in detail now okay so in Construction Construction of buildings actually decreased but specialty trade contractors that was really where the big increase in construction employment came this is probably due
36:08 to uh let's see okay specialty residential okay remodels and non-residential remodels okay so so that's where that that's really where construction uh increase is coming in terms of buildings so residential new residential construction continues to see employment growth but non-residential building has contracted okay and that's why we saw a much more limited um that's why we saw actually a a contraction in the employment of the construction of buildings okay uh heavy
36:45 and civil engineer oops okay heavy and civil engineering that just is what it is okay all right now oops okay go back all right now let's look at private education and health services so you can C healthc care and Social Services once again make up the largest um largest bulk of job of of job increases 26,500 45,000 so that 6070 it's about 71,000 jobs out of the total of um about 80 I think it was 81,000 jobs so you can
37:20 see they're almost all in industries that are heavily funded by by the government okay private educational oh NOP there's no drill down there okay Health Care let's see okay so all of the health care services saw pretty pretty good increases and social assistance okay individual and family assistance that was really where you know the big increase came okay CH and then child care services next all right now why are these important because if and and the and the answer is if you are in one of
37:55 these industries this shows you where jobs are growing and and whether there is is likely to continue to be opportunity for you in that sector or if things are gonna are Contracting okay next excuse me Leisure and Hospitality almost all the growth came in accommodation and food services and really almost all of it came in food services and drinking places okay not not not too surprising okay art entertainment and those kind of things so Amusement increased but museums once again and historical sites decreased and
38:31 Performing Arts areas you know 100 jobs essentially unchanged all right and then finally let's look at government okay so the federal government again didn't see a whole lot of hiring government employment in in is increasing on the state and local level and you can see um Here Local Government education uh and and other local government employment you know almost equals 7800 8,800 jobs so about you know about split between those two on the state government level um state government education okay was
39:09 the bulk of increase in jobs in the states whereas other government jobs were you know a fifth of of of state government education jobs okay and then on the federal level so uh Postal Service saw 1,400 new jobs and the government except for the Postal Service 1100 so that gives you an idea there's a roughly a roughly even split now let's let's quickly look at um manufacturing so Manufacturing in durable goods and non-durable goods decreased okay but you can see it
39:44 depends what it is so if it was fabricated Metal Products that actually increased non-metallic mineral product manufacturing increased but pretty much everything else uh decreased or was was unchanged well Ary also increased somewhat but everything else was pretty much unchanged or decreased okay and then um looking at non-durable Goods so food manufacturing did increase Printing and related services and textile product Mills went up a little bit everything else decreased or was roughly the same okay so that's why manufacturing
40:21 employment uh you know is is what it is okay and then finally transportation and warehousing um okay Transit and ground and ground passenger transportation that actually increased as did couriers and Messengers but pretty much everything else was uh was lower or was about the same okay and let's okay so um now let's let's just look real quickly at the 12-month picture and you can see the 12-month picture is very similar to the one month picture Okay so these these employment
40:56 by industry Trends have been pretty stable um over the the last 12 months okay so you can see manufacturing went down construction went up okay for the year transportation and warehousing went up but but not a whole lot 7% okay um almost a million additional jobs in private education and Health Services and over a half a million jobs in government and um about four well 367,000 new jobs in Leisure so what you can see is at a million and a half jobs
41:33 connected to essentially government payrolls or government uh payments that really is where job growth has that's really what's been D driving job growth this year even as that has been ameliorating somewhat in the last uh month or so okay now let's look at okay we're going to look real quickly at some of the new things that I added um the median home price I don't have um updated information on that from last
42:09 month so I'm just real quickly remind you the median home price nationally at the end of the second quarter $412,500 that's down from its peak of $442,500 so that's that's good now as as interest rates tick down while they haven't well we we've seen mortgage rates drop so we may see a turnaround in the third quarter um on of of the median home price because as interest rates go down people can afford to pay more for homes and they tend to bid prices up so
42:45 we'll we'll watch that um hopefully we'll be able to get some updated figures next month let's now look at um home price these are now now we that was the median home price right that's the one in the middle of of prices average home prices is all home prices added up divided by the number of homes so in the US average home prices have gone up two and a 2.7% year-over-year this is this Zillow is giving us the current figure okay um
43:21 and we can look at specific locations so we'll look at my where I live Los Angeles California okay um you know concurrent with the national average up to $950,000 a 2.7% increase okay let's look at Omaha Nebraska which I think went okay now Omaha Nebraska the average home price about 277,000 increased only 2.2% oops come on okay and then let's look at Miami Florida
43:58 okay Miami Florida look at that 7.1% increase triple the national average up over $580,000 okay so why is this important well if you own a home right it's giving you an idea of what may be happening to the value a value of your wealth if you're looking to move someplace else this is giving you an idea of what how how home prices are trending and and so you know you're going to if if you're going to move to Miami um you know from from Omaha the
44:34 rate of of home price increases is much much greater and it may be harder for you to get into the market now that's that's on the um home ownership side let's look at the rental side next okay so this is giving you an idea of various uh markets so let's let's look at Los Angeles okay so the um median rental rate in Los Angeles oh let wait a minute let's hold
45:11 hold the phone here okay um okay median let's let's look for okay uh well okay so unfortunately this is this isn't uh any more updated than it was um last time we looked at it so um I'm gonna I'm GNA move on from this and and talk about um the last metric I have for you which does have updated information and that is uh retirement
45:48 savings average retirement savings for the top 10 states Okay so okay so um the top 10 states of people saving for retirement top is Connecticut at $634,000 followed by New Jersey 605 Virginia 590 Maryland notice that these don't have what are you know typically thought of as the two wealthiest States California and New
46:23 York okay now part of that now Connecticut is kind of a a suburb of New York in some ways as is New Jersey okay but um you know Californians uh it shows you that the net worth of Californians is not particularly High even though the cost of living is high and and salaries are high okay so what that means is it's people in California are having a hard time saving money so if you're looking for a place to move to where it appears to be easier to to accumulate um wealth
46:59 for retirement these would be your top 10 uh top 10 locations now um This was um this was a survey uh um okay so this survey was conducted as of April this may be the same information that I that I showed you last time except for I thought yeah no this is okay so I I think this is different because this article had been released last time so so this is not this is not showing you savings as of you know September or something like
47:34 that this is gathered from April but um you know I I I don't know that these Trends change dramatically from from month to month but all that being said in in on some level these are the states where evidently it it is easiest in order to to accumulate wealth Okay so that is the situation so all these links will be in the show notes and I encourage you again one last time here to take a look at these things
48:10 it doesn't take very long while I take 45 minutes going through all of this it's only because I'm showing you examples on different things for you you can take 15 or 20 minutes take a look at these metrics and find the ones quickly that are most appropriate to you you don't need to look at the um employment by industry statistics for a half a dozen different Industries you can just look at the one for yours or for the one that you're in and the one that you're considering going into okay so you can do it in a in a much shorter period of time but I encourage you to look at these because when we've got you know an
48:47 election coming up and and it's not just a national election right there's State elections local elections and when you look at these kinds of things we we you know understanding how they're impacting us locally is as important as having a sense of how things are going in the country as a whole so I thank you very much for joining me today as always it's it's it's my great great pleasure to have you especially if you're with me live uh this is my last show for this week so I will wish you a great rest of
49:23 the day and a wonderful rest of the week as well I'll be back on Monday at 10:00 a.m. Pacific time with my show trust and Estates weekly Tuesday at 10:00 a.m. with uh business lessons from the military uh seven days from today with the next edition of people making money again at 10: a.m. Pacific time and then a week from tomorrow so Thursday of next week is my every other week show jiggers is place and that's at 5:00 pm Pacific time so those are all the upcoming shows so again thank you so much for joining
49:59 me really appreciate it and signing off as I always do Marie darling you are my bell courage that all