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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (27571)	1/19/2003 10:31:17 PM
From: elmatador	Read Replies (1) \| Respond to of 74559

Jay, new industries don't create jobs as fast as jobs are destroyed in the old industries, as Peter Drucker proved. As the US old industrial basis lost to the Japanese, first, and then to any South Asian country, the job market created by discount retailers and fast food didn't let the jobless rate goes to 20%. Now with MacDonald's and Burger King cutting investment. K-Market closing 326 stores and laying off 37.000 people, there isn't anymore job creation at the bottom. This is a trend, and it ispointing to a US jobless rate of Euro proportions as China comes.