Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: MythMan who wrote (74421)	11/9/1999 11:24:00 AM
From: Cynic 2005	Respond to of 86076

SI was down since 9 AM till about the time you posted that note. This may have to do with the drop. Heck, these fed officials will get another bird flipped at them in matter of minutes. biz.yahoo.com -------- Tuesday November 9, 11:10 am Eastern Time Richmond Fed's Owens sees wages pressures ahead NEW YORK, Nov 9 (Reuters) - Employers will have to hike wages to lure skilled workers in the Federal Reserve Bank of Richmond's tight regional labor market, a senior econmomist at the bank said Tuesday. ''I think producers both on the services side and in the goods producing manufacturing side are expecting that, in the future, to get more employees to their business, they're going to have to hike wages,'' chief regional economist Raymond Owens told Reuters Television. ''After all, we are one of the tightest regions in terms of labor markets in the nation,'' he said. Owens noted that some states in the region have unemployment rates at or below 3.0 percent, in contrast with the 4.1 percent national rate. In October, the Richmond Fed's services wage index declined to 20 from 22 in September, but was still above 18 in August. Retail wages, meanwhile, jumped to 46 in October from 24 in September and 16 in August. Each index equals the percentage of responding firms reporting increases minus the percentage reporting decreases. More upward pressure is likely during the holiday shopping season, Owens said. ''What we're seeing here is not too different than what we appear to be seeing nationwide: continued moderate growth in the manufacturing side while we're seeing really the retail sector driving the economy,'' Owens said. Retailers in the district expect holiday season ''gains upward of 10 percent over last year, which itself was a very good Christmas.'' Meanwhile, manufacturers are still finding it difficult to push through higher prices to consumers in a competitive market, he said, noting the gap between prices paid and received. The region's manufacturing shipments index rose in October to 11 from 8 in September. In that environment, the manufacturing prices paid index rose to 1.49 from 1.28 in September, while the prices received index declined to 0.37 from 0.44. Manufacturers are trying to combat that gap by seeking additional ways to increase productivity, and in some cases to try passing through very small portions of raw materials price gains, according to Owens. ''Nevertheless, we're not really seeing much movement in the prices they receive.'' Owens also noted a slowdown in the business services sector, where mortgage lending and real estate firms were bearing the brunt of higher mortgages rates.