>> announcers is nightly t business repith bill griffeth and sueer h good evening, everybody. and welcome to this special n edition ohtly business report. sue is off tonight. it is no secret that the economy is growing and is considered by many to be healthy.e and tonighte taking a look at different industries doing well yet face challenges. we begin with the red hot labor market. unemployment isll histori low. while that's good for employees, it's cating a worker shortage for companies looking to hire. steve liesman has more. >> reporter: wanted. one million workers. th's the number of ext workers the u.s. economy will likely need if it's even going to have a chance to grow at 3%.

that's a percentage point above what economists thi right now as u.s. economic potential. here is the math. right now u.s. economic potential growth is thought to 9 be half a point of that comes from workforce growth and 1.4% from productivity. american works getting more efficient every year. but president trump and others want to see growth return to the post war average ofpl 3% . to do that the u.s. needs more workers and more productivity. >> historically in any society that has an aiming population a shrinking labor force, it doesn't have to be the end of the world in terms of ndoutput growth and position in the world. but you have to run faster just to maintaiev the of output that we currently have, which is around $20 trillion. to maintain that or move it to 25 trillion, like you said, we need a combination of me workers, automation and reaching across our borders for workers

as well. >> exactly sns say half of the extra one% of growth comes from growing the workforce. the u.s. needs a to one million workers ayear. economists say another 1 million workers above and beyond what's forecast will bed nee every year to add a half a point to potential growth. and that's even if the u.s. gets people who aren't working to start participating in the labor frs. conrad of rdq economics says it's hard to get it because of participation rates because of the aging of theopulation. the u.s. could put more unemployed back to work. but the low 3.7% unemployment rate suggests the pool of workers is small andetting smaller. and the question is how much further the federal reserve will let unemployment fall before it feelsas to slam the brakes he on teconomy? >> i think their forecast would tell you they don't want to go below 3.5. i think they keep going gradualry. i don't think it means they have

to go faster. it may ultimately mean they go further. >> bottom line it's hard for t a u.s. to rea goal of 3% growth. not because there isn't work to be done, it's because there may t be enough workers. or nightly business, i'm steve liesman. the shale oil industry is facing annpcedented labor shortage. and with oil prices volatile that may be one of the problems brcing the eney rich permean basin. n sullivan is in midland texas tonight. >> reporter: here in west texa long timers in the oil and gas business tell you the industry is builtgs on three th things. rock, people and money. the permean basin of texas, the richest oil area in america has plenty of the first but always needs more of the other two. that's why some people are questioning whether the great american shaleeail boomed a peak. so-called goo rock is plentiful here. it's estimated there are tens of

billions of barrels of oile waiting to sucked out of the ground. but to do that you need the oil and gas workers to do the jb. something increasingly harder to come by in a city 500 miles west of houston with one of the e hottest reate markets in the country. >> getting people to come here particularly to move here is difficult challenge. obviously real estate, particularly -- trk parti troublesome in that house something expensive, more expensive here than houston o dls or someplace like that. your younger families trying to come andt'tart up t a lot to ask. >> locals have told us someel houses in less than 24 hours. some workers live in hotelse where r can be eye popping. a hotel likehis can run $400 per night. but the biggest concern about the shale boom on wall street is not people. it's debt. moody's estimates some 40 billion of oil and gas company debt matures in the next five

yerls with n 100 billion that have coming from the exploration appear production companies. we askedea the of research at simmons piperaftery about the impact of the rates on the industry. >> of urse they matter. the collective balance sheet of the upstream sector with record to e and p andvi oil s is in much better shape than in long time companies are living in closer proximity of cash flow and there is true capital allocation refm. effectively that was a germane argument through or when the emp companies were living outside much cash flow. but today coupled with ansponsible b sheets and living in closer proximity of cash know it's not as large as it could have been. >> a few years ago manyil and gas had almost no free cash flow. now they are smart and cleaned up balance sheets. loerp interest rates and highe oilce haves a great combination.

but if rates move higher and oic fall due to slowing economy, the booming shale oil industry and the boomtown o midland, texas could find itself between a good rock a a hard place. for nightly which is, brian sullivan, midland, to be. obviously when the grows many businesse benefit. that's one of the reasons the cruise industry is firing on all cylinders. in fact royal caribbean is making a bet that the will continue spending with the recently opened newport in miami. seema modi went to check it out for us. >> reporter: as more baby boomers reti, the cruise industry is expecting a strong upturn in 2019 with a record 17 shipts set to debut next year. th problem is there is not enough capacity at the ports to accommodate the new shops. royal caribbean is taking matters int its own hands. launching a state of the art

terminal. making it the first cruise line to a buildnd launch a terminal in port miami. >> this was a $250 million expeiture. but is -- it will pay back fairly nicely in terms of guest satisfaction, in terms what have it does for the community, and also our operating costs on a per passenger basis endsp beingess. the net to us is a slight o improvement t the bottom line. >> royal broke groun on terminal a last year. 2,000 ld employed construction workers. party miami estimates it will have$500 million annual economic impact on the state of florida. >> we continue to have increases every year.o and we had a record year of over 5 milon cruise passengers come to party paem. we are the crouse capital of the world. expect another 2 million by adding additional facilities, more ships. we contracted more ships, more lines. they are making port miami their home the port.t

we expect t growth to continue and expand a little bit to year 2021. >> with the new terminal royal ribbean forecasts the bookings to rice from 750,000 to 1.8 million over the next year. but the terminal launch comes at an uncertain time as investors debate the future of the kpee, the impact of hher rates and the state of the consumer. says caribbean's fame while he is concerned about nopolitics and ongoing trade disputes it's impacting so far. >> i'm a free trade advocate. anything creating engss about free trade i view as economically a bad thing. but our business in china continues to do well. i think part of it is becausene the c market is so embreenic, so small it doesn't take much to attract new customers. >> analysts say it is economic le sensitive and it any town

turn in the economy can have an effect. for nightly business report, seema modi, ami. not just cruise ships riding the wave of the strong eceomy. corporate jet business is as well. finally taking off after a decade of tryingo clear out the problems left by the great recession of 10 years ago. industry leaders recently met i orlando set a course for the future. and phil lebeau was there. >> reporter: they are bi high-priced and very much in demand. corporate jets from small ones sell for a if you million dollars to the big boys going for tens of millions. they are once again hot sellers. >> clearly the global economy is strong right now particularly the u.s. and business aviation tends to follow the economy. so this is a particurly good time that we are seeing for the aviation industry. >> after biness jetales lost

altitude a decade ago, the slow.r has been mainly because a glut of used planes held down demand for new ones. that's no longer the case. the new prader 6 jet is atrackingew interest. >> we have sales for the new six hundred and five hundred and seeing the momentum for the existing skpers and new customers coming to b thend especially correspondent flight departments. >> the correspondent tax cuts the trumpulation administration have convinced more companies it's time to get a new jet. the latest models can fly further with more connectivity and features attracting a wider y of buyers. >> it's been individual buyers, private companies, small companies, largean cos. i think everybody is benefitting from that. you'll see that over the next coupleyears. >> historically this is a boom and bust industry with jet maburs ovding in good years. but this time astro leaders believe it will be different. confidence they can keep the

buness jet business soari for years to come. phil lebeau, nightly business report,orlando, florida. now, as the economy grows so does the amount of stuff that we ship from place toplace. that's especially true now that more people shop online. and that gave one entrepreneur the bright idea to help businesses get packages where they need to be at a lower cost. sue has the story. rafael again selling high end surpl a watches jewelry working his way throu college in 2009. he discounted prices and sold online tough amazon ebay and others out of an apartment in queeg. >> the liv woman was the warehouse and the bedroom was the warehouse. >> as he tilled up apartment with 10,000 items, he began to notice pce differences between the amazons and ebays telling friends and family running similar business that ishey areften paid too much. >> i saw that they were really missing apportunity of selling elsewhere where the

margins were where the been. rone of them wanted to handle the logistics the space was too expense disbelieve burnlennening ecommerce bottom meant small businesses help with storage, pack annualing, labeling and shipping. >> i started calling up friends. and i was like intd of you sending to amazon. send me it i'll sd half to amazon we'll keep half and take back and ship it as the orders come in. >> starting in sow his company ruby has fulfillment outgrew the apartmentffnd then ane space and a warehouse. by 2014 it was handling a couple thousand orders a d. and ruby took the conveyor systems appear shelving to warehouse on long island. on ample the company says customers save 45% on freight. and if you think ruby's warehouse looks like an amazon fulfillment center, well, that's no accident. >> we had to do everything right. and we had to do it way amazon would dot it j on a smaller scale.

we have clients today that have distribution centers ten times our size where that distribution center can't hdle the direct to consumer needs. in fact, ruby handles some orders from amazon but ruby offers that amazon doesn't is ability tose the branded packaging. >> there is a lot of companies saying they can give you the branding but not in scale. as soon as you start doing 1,000 orders a day. what we see is they break down on scale. >> i don't want a third party brandt. >> chris started his -ehi sneaker brand in a brooklyn apartment three years a. now he has stores in new york, chicago and los angeles. but 60% of the business happens online. when witch ert signed on with realized hisr they inventory lacked the bar codes needed for automated processing. >> they discovered the problem and without sending it back or

ignoring the problem they printed bar codes and labeled them and got them in the something so nothing is lost. >> now with almost 200 clien and revenue of more than $17 million a year, ruby has has added wehouses in las vegas and new jersey with plans to expand further in 2019. aiming to keep delivering times down to the two to three days consumers expect. and businesses depend on. >> you canlo literally d the dollars in product, mechanicing, staffing, right, tngs that actually help them grow the business. getting a new forklift isn'to going add their top line or to the bottom line. >> ruby now has more than 200 employees. and is looking to expand not onlyere at home but in international as well. possibly canada and europe in the near future. wl on this thanksgiving evening i'm sure you're like most americans, your tomach is stuff and so is your garbage and recycling. but did you know that the

recycling business has seen ,etter days? in fa waste management company republic services says it's so ak, the whole recycling model nee to be scrapped. jane wells is in anaheim, california, for us. >> reporter: the recycling business is getting trashed. >> while the recycling model right now in the u.s. is broken. >> don slager os ceo republices servic, a waste management company doing well with the regularot garbage business so well with recycling. and they're not alone. for years, thearbage man has collected our recyclables curbside often at a losshe becae made good money reselling the materials overseas to china but now china has an air pollution problem so it stopped buying things like old card boards. bo appear the value of the

commodities plumted to $0 a ton to half that. at the same time the values of the commodities are c ing down more and more consumers are putting the wrong stuff in the recycle bin.th e people are busy pulling out the bad stuff process. that shouldn't be in there. plastic bottles are fine. but not bags. they gum up the machines. get this. while clean card board is great, if you put in the greasy part of your pizza box you could contaminate the entire load. >> contamination levels are as much as 30%. so we're sending a separate collect your home to what should be clean recyclables. and we're having to spend a lot additional time, effort and money frankly cost in cleaning that material up. >> replic services has invested in technology to improve sorting. but it t warnst if the resale value stays low, collection rates at the curb will rise. though they might rise slowly if peopn learn what goes the blue bin and what doesn't.

think loose paper, clean cans and bottles, because the company says here is the ugly truth. for all of our good intent nearly a third of what comes in here these days ends up in t landfill any how. for nightly business report, jane wells,ah m, california. then there is the scrap metal business which is a $100 billion a year industry. 60% of u.s. steel is made from recycled scrap. that's why one entrepreneur on new york's long island got the bright idea to make scrapping a full-time business. sue has our story. >> scrapping metal is not easy. especially if you would rather be doing this. ♪ >> but it's how vaughn strauss bills.e jobs he in in the past landscape designerlwimming poo builder even news photographer read like a list of cans kicked down the roadnntil i 2006 strauss began

picking them up, literally. he helped acr friend sap for just a week. before starting his own business and metalman was born. >> i saw the potential of the money that could be made if you did it right. >> doing it right meantot among her things financing a truck instead of renting to improve cash flow. this is truck number 2. the first on well it was strapped. >> it's probablyoa a ter now or a microwave. >> he also learned hours of separating copper, iron absteel anand aluminum be making more money. >> you don't cut it off it's $85 cents a pound. you cut it off it's a dollar. >> metalman says he picked up 4 million pounds of scrap, mostly in the fashionable hamptonn new york's long island. he summered there as a child anc played m gigs there as a young adult. >> you do rip out in the house there is copper all ovi'. approach the jobs and talk to the guy knock it down and guy

says give me three, four hundred bucks usual ily i trouble double or triplemoney. >> china's tariffs on u.s. steel meant growing supply at home this summer and copper prices dropped nearly 20%. >>t 1.40 whenhappened. >> but when he is busy strauss will drop 5 or six loads a day. at recyclingte c like g. rshow a family business opened by a scrapper back in 1964. still he was pleasantl surprised how much this ld paid. >> $549. it was $1173 p nds. >> the biggest risk, injuries. a fall sidelined him for weeks year.r this and he is still having issues with fingers. . a classically strained pianist he says he played in 23 bands and written more than 1,000 songs. now he is finishing a collection

of 46 originals. his words, his music. there is value whether his muk sells or not. >> i'm a perfeionist with the music. and it transfers over to the tsiness. i wado everything right with the metal thing. i want everybody to be happy when he they ce.l and they have the metalman experience. th metalman is on his which. >> there is legend too process 1,000 pound safe call metalman. >> it was aboutn 30 work watching this cheering metalman, metalman. >> all part of marketing a superhair persona sfl man of steel with, magnet o. i'm trying to recycle metal instead of rip it from the earth and keep mining and all that. in way i'm trying to do something great for the planet.

>> von strauss says he wouldn't callis music heavy metal. but in addition to the musical interests all of the heavy fting paid for his trucks and also helped put his daughter through college grea story. >> now in order to continue growing industries do need to look to the future. and for theanking business, that includes robots. leslieke pr recently attended th money 2020 conference in las gas. >> come talk to meer >> >> report: meet pepper, a robot created by soviet bank, a conseerj of sorts to help customers figureut tasks like depositing tasks or opening accounts. the londonk based b hsbc thinks pepper is a keyo better customer service and next generation technology fors. bran >> it's been incredible the feedback appear we are continuing to learn. this i history. no one has done this before in a

us bank branch we are learning. >> hsbc brought peppe to the money 2020 event in that gathers together hundreds in the financial technologyis industry toss the future of money. i decided to take pepper for a test ride to see what she could do. >> pepper tell me about credit rerds. >> whether you looking for ashback promotions, l introductory apr or benefits hsbc offers v aiety of credit cards to meet your needs, save or tap one of theptions on the screen to learn more. >> cash rewards. >> would you like to learn more about applying por the cash reward master card. >> text link. i just got it. when you hear the word robot, you may think job replacement. but hsbc insists that pepper isn't replacing any jobs. she isg augment those that already exist by handling the more mundane tasks. hsbc says pepper ensures

customerprief. customer dataro zero personal identifiable information. pepper is not asking for it. she is not scoring it. not recording. >> each pepper costs about $25,000. an investment inhsbc says they recouped 3 hours after installing her at their flagship location in new york this summer. the firm saysht she bro in more foot traffic and those customers haved sigp for credit cards, checking accounts and other revenue generating projts for the company. but pepper is not all business. she loves to show off her moves. tell jokes. >> what do you call an alligator >> i don't know pepper. >> an investigator. >> and even take a selfie. regardless of the gimmicky side hsbc is banking on pepper even if she just helps someone crack a smile. the future of the genetic

astro relies on people learning more about their past and that's helped by the rice of direct to consumer dna testing kits. 23 and me one of the leading companies in the bus hess recentlyeld an eept in new york city. and meg tyrrell was there. >> reporter: new yorker debra want to learn more about where she came from. >> my background is pretty splendid i'm kinus of cur as to what my full background -- my ancestry. >> so an instaam post about an even for 23 and me caught her attention. the company is just onef many now offering the direct to consumer jenn et etic tests in a recent hat exploded in years. >> 23 and me opened a pop-up in new york city to explain the information thebo give a everything from how you sleep to how your body processes caffeine to gluten, lactose to even how muscles work. >> it's an example of the tegory's massive increase in

advertising up 63% in the first half othe year. driven by largestpr company ocess 23 and me and ancestry. the market could top $6 billion according to ever core isi but some experts are concerned and promising implied or explicit about what tests can accomplish. >> the benefit for cancer carrier testing, these are solid. unfortunately we h all the other you know -- 90% of the field is essentially very questionable. >> one independent company promises to improve kid's socce skills. others offer guidance for weight loss and fitness. >> it's difficult for the average consumer who is te uninit to ferret out which are of value and which are really worthless. >> helix whose platform includes wellness tests from partners focused on diet and nutrition sayst vets offering thoroughly and doesn't make alun

claims. there is a lot of opt minimums for the testing. >> all the things we are hoping for is going to be actualized. it's just a delay. > for deborah it's about curiousty. >> now i have seen a medical side i serious about that too i oh get a get a kit. >> she is one of millions. >> thank you for watching in specl edition of night business report. i'm bill griffeth. enjoy your krifg. and we' enjoy your thanksgiving. and we'll see you tomorrow.

>> this is "bbc world news america." funding of this presentaon is made possible by the freeman foundation, and kovler foundation, pursuing solutions for america's neglected need and now, "bbc world news." >> this is "bbc world news america." i am kasia madera. the u.k. and the eu agree on an a declaration that