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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Jim Willie CB who wrote (599)9/8/2003 8:49:57 AM
From: russwinter  Read Replies (2) of 110194
 
Here something important relating to the likely increase in the Unemployment Rate later this year as a result of the new National Do Not Call Registration relating to telemarketer calls

Oddly, this is a situation that I've yet to see discussed in the financial community. It is one that could create enormous problems. According to the American Teleservices Ass'n., telemarketers may cut 2,000,000 jobs in response to the National No-Call Registration.

Through Labor day weekend some 48.4 million people have signed up for the No-Call Registry and, the Federal Trade Commission, who maintains the list, expects the number to rise to 60 million.
ftc.gov

Telemarketing jobs provide paychecks for thousands of people, not to mention the loss of sales that will result for some of the nation's largest companies. Upgrading a telemarketing computer system to comply with the new no-call requirements is very expensive and, the smaller companies may have to go out of business if they can't buy the equipment.

Those who register on the Do Not Call List between June 27 and and August 31, should stop receiving telemarketing calls by October 1, 2003. If they still receive calls after that date, they can take legal action against the offending telemarketer.

What would an additional 2,000,000 layoffs or any number remotely close to that do the the already high Unemployment rate? Or the supposed economic recovery?
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