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To: Oeconomicus who wrote (136573)1/4/2002 3:19:09 PM
From: GST  Read Replies (1) | Respond to of 164684
 
Unemployment is going up but at a slower rate. That might suggest a peak unemployment rate sometime mid-winter or early spring -- does not look like it is heading to 7% -- perhaps 6.5%. Auto sales are headed down from here, and other sectors might be softening, including housing. We also don't know how retail will hold up in the wake of deep Christmas discounting. And the international markets are very weak indeed, which could lead unemployment to a peak closer to 7% -- we will have to wait and see, but overall not a grim report.



To: Oeconomicus who wrote (136573)1/4/2002 6:39:05 PM
From: GST  Respond to of 164684
 
Bob: You are not counted as unemployed if you get laid off UNLESS you are actively looking for a new job. It is hard to know how many people are being passed over in the unemployment stats because they are laid off but waiting for a recall rather than looking for a new job.


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