Listen to the full interview with James Arnold of ABC Bank below.
If you are paying attention the the national economy and economic news, you have noticed the supply chain issues and rising price of products across the board. You've probably also noticed that there are employment problems and millions still out of work across the United States.
But how are things closer to home doing? According to James Arnold, West Texas might be seeing the light at the end of the tunnel. Arnold, the President and CEO of American Bank of Commerce joined The Chad Hasty Show on Friday to discuss the local and regional economy and also spoke about the national economic news as well.
Arnold pointed to the raising cost of oil and cotton as signs things could be improving, though Arnold did say that the high price of cotton could come back to hurt farmers in the Spring as they will probably be paying more to plant.
Arnold also told the KFYO audience that he believes the higher prices and inflation is going to be around for a while. When asked why so many service jobs remain open when Lubbock's unemployment rate continues to drop, Arnold said that many of those employees have moved on and restaurants may have to resort to other ways of doing business.
I don't see that turning around anytime soon. I think a lot of those folks have gotten jobs in other places in other industries. That sector, the service industry is going to have to pivot and find other ways to deliver their goods and services.
Arnold also spoke about the housing industry in Lubbock and West Texas and possible new IRS rules. Listen to the full interview with James Arnold above.