1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Economic, job outlook not great

Discussion in 'Issues Around the World' started by Robert Harris, Jan 18, 2003.

  1. Robert Harris

    Robert Harris Passed Away Aug. 19, 2006

    I know that several people in this forum are looking for jobs. Alass, the outlook is not great in general.

    I am relieved that the consulting project I worked on for much of last year that sort of ended in November is about to start up again. I will probably remain solvent for another year. :)

    Scant Relief for Jobseekers in 2003

    Filed at 7:07 a.m. ET

    NEW YORK (Reuters) - It will be close to the end of the year before U.S. companies gain the confidence to start hiring workers on a big enough scale to cut into the unemployment rate, according to a Reuters poll.

    The poll on the outlook for major economies showed analysts see only a gradual improvement in the U.S. unemployment rate this year, down to 5.7 percent in the fourth quarter, compared with 6.0 in December 2002.

    U.S. employers slashed jobs sharply in November and December and have little incentive to start rehiring until some of the uncertainties hanging over the economy, such as whether there is a war with Iraq, are resolved. That will take time.

    The survey, carried out January 9-13, forecast the U.S. jobless rate at 6.0 percent in the first quarter of 2003 and 5.9 in the second quarter, an agonizingly slow pace of improvement.

    More at:
  2. Biker

    Biker Administrator Staff Member

    :friggin: Ducky!
  3. ethics

    ethics Pomp-Dumpster Staff Member

    Yeah really.. I say by September but you should see more hiring come March. I don't believe in Reuters, nor their polls. ;)
  4. cdw

    cdw Ahhhh...the good life.

    Well, I've been out since June, but was doing well in July and August with sales out of my home. Then the bottom dropped out and it's been crap since. I've got just about enough to cover another month, so this week I'll be going to see some employment agencies to see what they can get me, if anything.
    It's tough out there right now. Most of the people that I know have scaled way down and are worried about what the future is going to bring. Everyone is saying either do this war or shut up about it, it's killing us.
  5. FrankF

    FrankF #55170-054

    Employment prospects are looking up where I work, especially if there is a long-term war with Iraq or North Korea.

    Not that I would want that to happen:(
  6. wafen

    wafen Member

    These polls are worthless. In fact they are so worthless I didn't read it.
    No one can predict when this will turn around and anyone that does is fooling themselves.
    Until the big manufacturers stop sitting on capital and start purchasing, the little mom and pops aren't going to spend either.
    This is a big indicator of how the trickle down theory really works. When the big guys spend others make money and begin to spend and everyone comes along for the ride.
  7. Robert Harris

    Robert Harris Passed Away Aug. 19, 2006

    Once war starts I expect business to pick up for certain industries involved in supplying and supporting the military. This will have spillover effects to other industries too. How much improvement there will be would depend on the size of the war operation and its duration. A big, long war would do a lot for employment -- but I think there are less painful ways to deal with the economy.
  8. wafen

    wafen Member

    I think there will be an economic downturn if there is a war, possible back in to recession.
    That is unless the oil prices are kept very stable throughout the war, which I would doubt.

Share This Page