--- The Fool <[EMAIL PROTECTED]> wrote: > <<http://www.zmag.org/content/showarticle.cfm?SectionID=10&ItemID=4293>> <snip> > Yet as GDP rises again, at a rate of 5% this > quarter, the economists are > talking about a �jobless recovery� � the meaning of > which was explained > in a recent Financial Post article. �The total net > worth of America�s > richest people rose by ten percent to U.S $ 995 > billion this year from > 2002, according to Forbes Magazines annual ranking > of the countries 400 > wealthiest individuals.� (The four hundred richest > U.S. residents wealth > is now about the size of Canada�s economy, the eight > largest in the > world). In 2001/02 the 400 wealthiest people saw a > slight decline in > their wealth, as was the case for most of the > population with some 1.7 > million people in 2002 that joined the 34.6 million > people living in poverty. (WSJ September 29) <snip>
Colorado is having trouble, especially with the high-tech downturn: http://www.fdic.gov/bank/analytical/stateprofile/da/SW/Colorado/CO.html "Following a period of strong employment growth relative to the nation during the 1990s, the 2001 recession resulted in a rate of job loss in Colorado that has exceeded the nation since the fourth quarter of 2001 (see Chart 1). The state's unemployment rate was very low during the high-tech boom, bottoming at 2.6 percent in January 2001, but increased to 5.8 percent in the second quarter of 2003. As of the second quarter of 2003, Colorado was still losing jobs at twice the national rate." (The August rate was unchanged at 5.7%, however, which is still better than the national rate of 6.1%.) http://denver.bizjournals.com/denver/stories/2003/09/15/daily46.html Can anyone comment on this PA article which states that the unemployment rate is falsely low because of 'discouraged workers no longer looking for a job?' http://www.timesleader.com/mld/thetimesleader/2003/09/08/business/6700808.htm In the past month one friend has been 'escorted off-premises' (although she was given several months severance pay as she received _no_ advance notice; apparently other workers there had the same thing happen - the company is down-sizing), and another told that her company will be leaving the state in a year. Another horse-friend had to look for ~ 11 months, and lost her house, before she took a job far below her capabilities (IT). That's 3 out of 10 (in that particular circle of friends) in a year-and-a-half. Debbi VFP Scary __________________________________ Do you Yahoo!? The New Yahoo! Shopping - with improved product search http://shopping.yahoo.com _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
