Rick Rieder

And I know when people say, well, you know, they're focused on could this be 60,000 jobs, 70,000 jobs, 80,000 jobs.

If you go back to 2021, now that was post-COVID, we were running 600,000 jobs.

Now, big pullback from 20.

But then in 22, 380,000 jobs a month.

2022, you were running 217,000 jobs.

23, you were running, sorry, 24, you were running 170,000 jobs.

We're talking about last year, you ran 50,000 jobs.

Net of healthcare, no jobs.

This year, you're running at a number, well, we just saw 50,000, 39,000 was in healthcare jobs.

Point being, and part of why I think the interest rate tool doesn't really affect healthcare and doesn't really affect education, which was another part of the job market.

Meaning, I think we're just seeing a productivity revolution.

I mean, you break down the numbers and you really look at it, it's pretty extraordinary.

And I think the labor dynamic is quite significant on the backside of that.

So, by the way, Jan's right as normal, as usual.

I will say one thing.

People like to take productivity and say, oh, it must be a two-letter word, AI.

AI is coming.

By the way, so is robotics, so is automation, so are other forms of productivity.

But if you go back the last two years, and I broke it down on a call we did, logistics, inventory management, customer procurement, freight, how you use freight, efficiency of how you manage your inventory, efficiency of how you manage your receivables.

Every company today is running, why is revenue growth a decent place?