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To: BGR who wrote (60648)	6/4/1999 8:08:00 PM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 164684

If the CPI number comes in weak as I expect, I would not be surprised if there are no rate cuts. You mean rate hikes right? Or were you expecting a rate cut (don't want to rule anything out you never know what some people are thinking)

To: BGR who wrote (60648)	6/4/1999 9:01:00 PM
From: Sarmad Y. Hermiz	Read Replies (1) \| Respond to of 164684

>> OOH, it seems that comapnies cannot hire enough and there is a labor shortage. OTOH, salaries should have gone up by a larger magnitude if that indeed was the case. Alternatively, if companies really are not hiring much because they see weakness ahead, the salaries should have weakened as well. << Don't despair. There is an explanation. And it even makes sense. Did you notice the jobs data had the largest reduction ever for factory jobs ? Of course there was a net addition of 11000 jobs, but they were service jobs, which pay less. I think the largest category was retail. So the average hourly wage was held low because high wage jobs were replaced by low wage jobs.