Word: deeps
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Dates: during 2000-2009
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With the country perched on the edge of a deep recession, the national unemployment rate above 6% and nine straight months of a national net decline in jobs, the question is whether the U.S. labor market's fortunes are about to plunge even more steeply. In the eyes of many experts, the answer is a bleak one. "Unfortunately, the worst is to come," says Robert Reich, a former U.S. Secretary of Labor under President Bill Clinton and a professor at the University of California, Berkeley. Reich argues that consumers have only begun to tighten their purse strings, which will shrink...
...Goldman report suggests that over the next year, "lagging" sectors of the economy - like construction, manufacturing, financial services and retail - are likely to incur many of the coming losses. According to the Bureau of Labor Statistics, some of these sectors already have seen deep cuts of late. Reich says all industries that rely on discretionary spending are at risk, while regions where at-risk industries once thrived could be battered. Dwindling housing and construction markets could cripple the Sun Belt; hospitality-heavy regions like Florida could suffer from a lack of tourist spending; and auto-manufacturing states like Michigan should...
Just what those high numbers mean in a state that is, for the most part, painted a deep red, is sending Texas pundits into hyperdrive. Is it Obamania? Evidence that Palin has inspired the base? Frustration at the economy (not as bad in Texas)? Or signs of a Democratic resurgence deep down the ballot over local issues like toll roads and education? Texans tend to describe themselves as conservative (48%) or moderate, according to a recent survey by the Texas Political Project, and have a rosier view of the Texas economy than the national one. Against that background, analyzing...
Farley says no one in the business knows just how deep the slump will go or how long it will last. "With all the merchandising going on, the true test will come in the first quarter of next year," says Farley. Farley adds that carmakers are seeing stress even among what has been the industry's most reliable - though low-profit - customers over the years: "We are seeing quite a bit of capital stress on our rental partners...
...three months to go, the White House is looking to tweak regulations that will make mountaintop mining easier, ease catch limits for certain kinds of fish, lighten the regulation of drinking water and potentially allow power plants to emit more greenhouse gases. "We already know this Administration has a deep, unwavering ideology of deregulation," said Representative Edward Markey, the chairman of the select committee on energy independence and global warming. "With scant time left, there's no reason to think they'll stop deregulating now." The new Administration could reverse many of these changes, but doing so will take precious...