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November 05, 2018
CNN 10 - November 05, 2018
Job Report and Unemployment Rate Out for October;
Seasonal Worker Challenges;
CNN 10 Heroes;
Mandarin Duck in Central Park
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CARL AZUZ, CNN 10 ANCHOR:
Hi, I`m Carl Azuz. Thank you for starting off your week with CNN 10.
Job Report and Unemployment Rate Out for October
Going to work. On the first Friday of every month the U.S. Bureau of Labor Statistics releases what`s known as the jobs report. It`s closely watched by economists, business leaders, investors and politicians because the report gives a sense of how the U.S. economy is doing. For the month of October, who`s job`s information came out last Friday. The government says the U.S. economy added 250,000 jobs better than what analysts and economists expected.
Most of the new jobs were in the fields of healthcare, manufacturing, construction, as well as transportation and warehousing. The unemployment rate is a percentage of the U.S. workforce that doesn`t have a job. The report says it stayed the same in October as it did in September at 3.7 percent. That`s the lowest it`s been in 49 years which is good news for workers and the economy. The report also found that average wages increased. That`s significant because while the number of jobs has been growing for years now, wages have been a sticking point because they haven`t kept pace.
In October though, the Labor Department says wages grew by 3.1 percent. That`s their fastest pace in nine years. With the U.S. midterm elections set for Tuesday, President Donald Trump, a Republican, called the jobs report incredible and said Americans should keep it going by voting for Republicans. Senator Chuck Schumer, a Democrat, said that numbers will mean little when average Americans see their healthcare costs go up because of Republican actions. So he wants people to vote for Democrats. Regardless of where folks stand politically, one interesting side effect of strong jobs growth is the challenge it creates for companies to get people to work for them. Consider what retailers are doing to attract seasonal or temporary workers with Christmas less than two months away.
Seasonal Worker Challenges
(BEGIN VIDEO CLIP)
This is J.C. Penney`s Manhattan flagship store. And I can tell you the strong U.S. jobs market is delivering a major challenge to retailers like this as we head into the holiday season. Stores, like this one, and many others like it had to launch an aggressive marketing campaign to sell their seasonal jobs. They had to provide incentives and they even held a special hiring event to try and draw the crowds.
JOE CARDAMONE, MANAGER J.C. PENNEY`S MANHATTAN:
You`re going to do overnight for me.
Yes I am.
Outstanding. Good job.
For Joe Cardamone, Manager of J.C. Penney`s Manhattan Flagship - -
- - the relief at seeing this turnout is palpable. This day could make or break his holiday season.
Because it is a tight job market out there. So for most J.C. Penney stores it`s getting ahead of the other retailers.
J.C. Penney held it`s second ever nationwide hiring event in mid-October. Hoping to attract 39,000 people and there`s a new incentive. A chance to win a free vacation.
It`s a dog fight out there and I think whatever incentive you can give a new associate to stay around with you will always help.
A dog fight because this is not just the tightest labor market the U.S. has seen in almost half a century. It`s also set to be one of the busiest shopping seasons in years. Consultancy firm Challenger, Gray and Christmas has so far recorded more than 700,000 job announcements. The highest since they began tracking in 2012. And one of the biggest dogs of all Amazon just upped the stakes even further offering a $15.00 minimum wage to all employees.
Stores are really having to sell themselves. Target, for example, is offering $12.00 an hour and a $500 gift card for randomly selected employees in an effort to hire 20 percent more people this year. And Macy`s says, most of it`s seasonal hires will be eligible for a new bonus program. And it`s not just the retailers.
First of all, thank you for coming.
Shipping giant UPS has rebranded it`s seasonal hiring event "Brown Friday", promising the chance of a permanent career.
We started planning for holiday season 2018 the day after holiday season 2017. We certainly anticipated that the unemployment rate was likely to go down and it was going to be even more competitive.
Another hiring trick is to target existing customers. 57 year old Maritz Savira (ph) had found out J.C. Penney was hiring from a notice on her receipt.
Well I shop here frequently. You know, for the holidays I can stop in and spend my money here two at the same time.
She`ll be working in Customer Service. The front line of a festive shopping frenzy. Well frenzy is the word, consumer confidence is also at an 18 year high in the U.S. so people are going to be doing more shopping this holiday season. Stores like this simply can`t afford not to have enough people to sell all of that Christmas merchandise and the pressure isn`t letting up. Amazon`s $15.00 an hour minimum wage came into effect this week. Now J.C. Penney wouldn`t tell us if they`re spending anymore paying their seasonal associates more this year. But UPS did tell me that they are looking at raising their starting wages in markets where the unemployment rate is lower than the national average. So the latest jobs report, good news for employees but a major challenge for employers.
(END VIDEO CLIP)
10 Second Trivia
What is the Earth`s longest mountain chain above sea level? The Rocky Mountains, the Andes, the Caucasus Mountains or the Himalayans. Stretching thousands of miles along the west coast of South America, the Andes are the world`s longest continental mountain chain.
CNN 10 Heroes
One of the countries they traverse is Peru. Who`s dramatic topography includes both the Andes and the Amazon Rainforest. Moving around here, especially on Peru`s unpaved roads can be tough and though the nation`s economy has improved in recent years, almost 1/3 of it`s people still live in poverty. That`s something that Doctor Ricardo Pun Chong is helping address. He`s a CNN Hero. One of the top 10 CNN Heroes of the year. You can vote for your favorite at cnnheroes.com. And you can see what Dr. Pun Chong has done right now.
(BEGIN VIDEO CLIP)
DR. RICARDO PUN CHONG:
When the kids of our countryside have a serious medical condition, they have to come here to start their medical treatment.
We have people that come far from Lima. The journey is very difficult.
Imagine having this trip with a kid with cancer. They see a lot of traffic, a lot of people. It`s very expensive to stay here. They don`t have enough money. They feel helpless, really alone.
I am a doctor. When I was making my medical training, I saw many people sleeping at the hospitals. I always have that picture on my mind. I decided to open our free shelter to help sick kids and their moms to continue their treatments. They can stay in our shelter as long as they need. The shelter gives families a place to sleep, food to eat and lot of loves. I want them to use their imagination to play, to jump, to sing and feel that we are alive.
I just want to make them laugh and I want these kids to enjoy life because life is very beautiful. We make sure that the kids get to their medical appointments.
I want each and every one of them to feel special. I want them to know that they are not alone. The kids inspires me everyday. They are fighters, warriors, really they are heroes.
(END VIDEO CLIP)
10 Out of 10
You`re likely to spot a striking looking mandarin duck in eastern Asia or some parts of Europe. You`re not likely to see one in New York City`s Central Park but that`s where this one is swimming peacefully alongside more common place ducks and captivating New Yorkers. It`s not from a zoo according to a ranger with the city`s Park`s Department. He says it was most likely kept as a pet and as long as it`s able to eat and fly, they`re just going to let it be.
After all if it looks like a duck, swims like a duck and quacks like a duck, you don`t need to canvas back and forth wandering and whistling in hopes of spotting an uncommon duck to fit the "bill". You can just call on the one who`s "mandarin" Central Park and if he doesn`t "duck" the responsibility he may just start a "dynasty". I`m Carl Azuz, "quacking" duck puns on CNN.
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