Petroleum reserve release sends oil prices sliding

Article Abstract:

Oil prices dropped by 3.4%, or $1.11, a barrel to $31.57 on Sep 25, 2000. The slide is due to traders reaction to the announcement on Sep 22, 2000, that the US government would release 30 million barrels of oil from the Strategic Petroleum Reserve. Although the drop was fairly sharp, it was not as steep as three one-day declines posted in the week of Sep 18, 2000. The market went down in response to the rumor that the White House would act.

Commodity & service prices, Petroleum and Coal Products Manufacturing, Petroleum

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Retail sales are strong in February

Article Abstract:

The US Dept of Commerce has reported a strong retail sales in Feb 2000 despite rising interest rates. The report supports a survey which reveal that Americans' buying decisions are not affected by rising interest rates. Factors that are contributing to a surging retail sales include the still fairly low interest rates and a tight labor market. The sales figures for Feb was up by 1.1% over Jan and 9.4% over the same period in 1999.

Retail Stores, Retail sales

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Pockets of high unemployment dot USA

Article Abstract:

There some places in the US which have significantly high unemployment rates despite the economic boom that has made jobs easy to get. The places where the unemployment rate is double or even triple the national average are for the most part are agriculture-dependent communities which have not attracted high-technology companies. The nation's highest unemployment rate is in Yuma, AZ, at 36.2%.

Unemployment

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