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To: Paul Shread who wrote (38288)	12/18/2000 9:59:28 AM
From: dennis michael patterson	Read Replies (1) \| Respond to of 42787

Paul, EXCELLENT point about wages. BUT, does SIlicon Valley put THAT much pressure on wages? SMall number of folks vs. larger labor pool? Just wondering

To: Paul Shread who wrote (38288)	12/18/2000 10:04:56 AM
From: Les H	Read Replies (1) \| Respond to of 42787

You'll likely get a wage spike since unemployment chops off the lowest earners. There's a statistical quirk in the wage statistics since the last people hired and the first people fired are at at the least competitive end of the wage scale. Wages were likely up strong this past year but were being masked by the above, including the high level of immigration. They need statistics that only look at wages of people on the job for at least 1 year, especially since the first 3-12 months of employment is probationary. The Washington Post also had an article on the new home market today. It's still hot with most homes starting around $ 500,000 - $ 650,000. The earnings estimates for most homebuilders reflect this. The stocks would've probably been in the stratosphere had not people sold everything else to buy tech early in the year.