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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (50135)	3/18/2001 2:10:10 PM
From: Jacob Snyder	Respond to of 77397

re: layoffs in Silicon Valley have reached 75,000 Actually, from what I've been reading, (and seeing in my own community), I think the newly unemployed will quickly get new jobs (at somewhat lower pay, and without the promise of immense quick gains from employee stock options). The unemployment rate for people with a college degree is essentially nil today, just a fraction of 1%. There are still lots of unfilled jobs, lots of jobs being filled by foreigners. I don't expect the unemployment rate to go over 5%, even if we get a recession this year. This recession is going to mean lower pay and lower consumer spending, which is a lot less painful than the sharply higher unemployment that recessions usually create.