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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (68058)	10/12/1999 11:18:00 AM
From: Ken98	Read Replies (2) \| Respond to of 86076

<<Tuesday October 12, 10:50 am Eastern Time Richmond Fed--labor supply "extraordinarily" short NEW YORK, Oct 12 (Reuters) - Skilled workers are in very short supply in the Federal Reserve Bank of Richmond's region and the tight labor market is pushing up wages, a senior economist at the bank said on Tuesday. After the Richmond Fed released its monthly survey of the regional manufacturing and service sectors, chief regional economist Raymond Owens told Reuters Television that manufacturing had gathered steam in September. ``Keeping in tone with the national reports, we are seeing a slowdown in employment but the workweek is up and wages continue to grow at a pretty heavy pace,' Owens said. ``Labor is extraordinarily short in parts of our district,' he added. ``The unemployment rate in some areas is below 2.0 percent. There is some suggestion that very low rates of unemployment, unavailability of workers, is pushing wages up. We are looking at pronounced worker shortages in some areas.' While the Richmond Fed's manufacturing shipments index was flat at 8 in September, new orders rose strongly to 13 from 6 in August as did backlog of orders, to 11 from -6 in August. Owens said prices remained well behaved. The prices received index was little changed at 0.44 in September versus 0.48 in August while prices paid rose to 1.28 from 0.94.>> But, but, but I thought the Dept.of Labor said there was NO wage pressure? And on Friday they will tell us there is no inflation either. Hey, Asymmetric Al, how does it feel when the bond market gives you the finger?