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To: Glenn D. Rudolph who wrote (139378)	2/16/2002 9:38:38 AM
From: H James Morris	Respond to of 164684

Oregon 8% jobless rate likely nation's highest PORTLAND -- Oregon may lead the nation in unemployment for the third straight month after the state released figures for January showing the jobless rate had reached 8 percent, the highest level in nearly a decade. The increase from 7.8 percent in December marked the 13th consecutive increase in unemployment for Oregon, the first state to officially declare itself in a recession last fall. The increase from December to January was small, but the sustained upward trend is troubling, said John Mitchell, a U.S. Bancorp economist. Nationally, the jobless rate fell slightly from 5.8 percent in December to 5.6 percent in January amid signs the recession may be hitting bottom.

To: Glenn D. Rudolph who wrote (139378)	2/16/2002 10:45:19 AM
From: Victor Lazlo	Read Replies (2) \| Respond to of 164684

<<It is also improving and picking up momentum. >> retail sales apart from as and autos declined 0.2% laast month Glenn. Auto sales declined much more. Consumers are clearly reducing spending and paying down their high-interest debt. And that is healthy. What is not healthy is for people to keep spending money that they do not have. <<You will see a nice economic rebound during the second half of 2002. >> The same people who told us the econmy would rebound in Q2 2001 are now saying that. But it's clear to me that the economy is going to drag along the bottom for a while. I don't see much more to the downside, but I'd love to know what the catalysts will supposedly be for a rebound in late 2002.