Word: downturn
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...Medicaid and food stamps. The General Accounting Office warned in a report to Congress last year that the dearth of unemployment benefits for part-time and low-wage workers could hit particularly hard at women who have recently left welfare for the workplace. "In the event of an economic downturn," the report stated, "many low-wage workers...will be unable to qualify for unemployment-insurance benefits...
China is the Asian country best positioned to pull through the global downturn. The economy is still on track to grow 8% this year even as its exports to the U.S. slacken, and Beijing's coming membership in the WTO will require market reforms that by some estimates will boost...
...fourth-quarter average price of $23.75. The reason is simple. Even before Sept. 11, the global economy was entering a recession. That recession is now likely to be deeper, though not necessarily longer, as nervous consumers and business executives put off discretionary spending. The impact of a global downturn on the demand for energy "is the dominant factor by far" in its price today, outweighing speculative concerns about supply, according to Daniel Yergin, chairman of Cambridge Energy. "We may be looking at the worst global recession for 30 years...
Murphy said retail sales have been slow in recent months, but he said he did not know if the current economic downturn would affect the rate of future rebates...
...airlines, already under pressure from higher fuel costs and slower economic growth, are warning of tumbling profits, reduced services and thousands of potential layoffs as flights to and from the U.S. fly half or even one-quarter full. Countries across the region dependent on tourism are bracing for a downturn that will be "extensive and severe," says John Koldowski, spokesman for the Pacific Asia Travel Association. Destinations favored by Americans?like Hawaii, the Philippines, Fiji, Japan and Taiwan?will be particularly hard...