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Although first-time jobless claims fell slightly last month, economists are expecting that April's 6% unemployment rate--the highest in nearly eight years--will climb to 6.5% as 1.2 million new job seekers come streaming through their college gates and a million or so high school graduates start looking for full-time jobs. Since October, the unemployment rate has been hovering around 12% for workers ages 16 to 24, who are usually the first to be laid off. Diane Miller, 22, a zoology major who graduated in April from the University of Michigan at Ann Arbor, is looking...
...market as a big stepladder with layoffs forcing many workers to slip down a rung, leaving few vacancies at the bottom for new job seekers. Boomers are refusing to budge (i.e., retire) at a time when their kids--also members of an unusually large generation--are clamoring to climb aboard. At Parsons Brinckerhoff, a major engineering firm based in New York City, the turnover rate has been cut in half since last year, to less than 7%. "We're seeing the pig in the python here," says Parsons executive vice president John Ryan of the lingering boomers. While they...
...brain habituates to the fear. A patient suffering from a blood phobia, for example, might first be shown a picture of a scalpel or syringe, then a real syringe, then a vial of blood and so on up the anxiety ladder until there are no more rungs to climb. There is a risk that if treatment is cut short (before the patient has become inured to the anxiety triggers), the anxious feelings could be exacerbated. But done right, behavioral therapy can bring relief from specific phobias in as little as two or three sessions. Social anxiety takes somewhat longer...
Bembry, 44, is part of a new wave of ministers who are teaching their flocks how to climb out of debt and into the financial markets. His is one of 120 churches that have paid $1,000 each to join One Thousand Churches Connected, an economic-literacy program led by the Rev. Jesse Jackson and his Rainbow/PUSH Coalition. "This is not about poor; it's about poor habits," says Jackson. "People are buying fancy cars and renting houses. They are choking on debt, living beyond their means...
...still way off the $1.17 the currency fetched when it was launched in January, 1999. Hans-Werner Sinn, chief of the German IFO economic think tank, said last week that he foresaw the euro reaching parity with the dollar by year's end. "The euro will continue to climb and without difficulties can reach a dollar," Sinn told Reuters news agency. Stephen S. Roach, an economist for Morgan Stanley, said it's not whether the dollar will fall but by how much. "Our currency team believes the dollar is almost 15% overvalued - a classic setup for a fall," Roach said...