Saturday, February 02, 2002

Jobless rate unexpectedly dips in January, government reports. Auto parts supplier Lear cutting 6,500 jobs. Janus mutual fund group cuts 222 jobs at headquarters. Staples office supplies cuts 326 jobs. Dow Corning to cut about 700 jobs. Lucent Technologies plans to cut another 800 jobs. Airlines Losses May Hit $15 Billion. Ciena to cut 400 jobs. 10:31:30 AM    comment  []

"Mr. Koizumi appeared to be opting for a quiet status quo rather than the rousing leave-no- stone-unturned reform that he once campaigned on. Unfortunately, this is a message Mr. Koizumi has been sending on many fronts in recent months as he has backed away from difficult economic choices, sending confidence in the country plummeting along with currency, bond and stock markets. 'I think this could really be the death knell of the Koizumi administration," said Jeff Kingston, a professor of history at Temple University's Tokyo campus. "This exposes the sad reality of his government, that he isn't serious about reform.' " [NYT] 9:57:51 AM    comment  []

"What is particularly encouraging at this juncture is that so many economic indicators are improving at the same time," said Jarlath Costello, Ford's senior United States economist, citing gains in consumer confidence and stronger orders for capital goods. 9:42:16 AM    comment  []

"There are three times of the year when you pay very little attention to big swings in economic data and that's June, September and January." --Daniel S. Hamermesh, a labor economist at the University of Texas, 9:39:45 AM    comment  []