Show In As 2002 BEGINS THE MOOD A A l a shakier economy Americans remain optimistic about the future of the nation is resolute- - WEEKLY WAGES ly confident despite wage h 2001 freezes benefit reduc-- i tions and shrinking job iik security Wk of the Americans In the three months after Sept th nedUa weekly salary for al workers wk $597 (op $21 fan 2000) Son REAL ESOOE AGENT '$774 $747 PHOTOGRAPHER MHM$G87 World War IL Even in die midst of a na- v ACTOR OR DIRECTOR PRESCHOOL TEACHER m overtime hours and trimmed their retirement plans and health benefits At the same time the' nation's economic safety net is badly frayed: Programs like food stamps Medicaid and welfare were cut during the 1990s Many people now looking for a job don't qualify for un- employment insurance benefits because they didn't work long enough e worked or earned too little And donations for the poor are sharply down: Many Americans instead gave to victims of the Sept 1 1 attacks part-tim- Still for most Americans this races- sion is less severe ihan past downturns Consumer prices have remained stable or fallen thanks to low inflation and global competition! At the end of 2001 clothing fonriture TVs and personal computers all cost less than they did 1 2 months earlier Lower interest rates let homeowners refinance their mortgages And lower oil and natural gas prices are estimated to have saved most US households more than $300 last year' The terrorist attacks broadened and deepened the recession In addition to of job creation for $5 in one survey said January's unemployment rate was 569b — up from 429b a year earlier Nationwide companies have slashed bonuses imposed wage freezes cut nation’s main engine selected jobs: $1248 $834 the last 60 years — lost more jobs than in any other period since In December the country is headed in die right direction Doris Kurtz 55 who made S132JXX) last year as superintendent of schools in New Britain Cbnn sums up the economic views of most PARADE interviewees: "Short-terpessimistic longterm optimistic We will rebound" the service sector— die 11 the devastating loss of life and fens of billions of dollars in property damage are estimated to have cost the econ-omy at least $100 billion in lost growth three-mon- th $4&a tionwide anthrax scare the US Post Office had plenty of applications for its 40000 holiday-seaso- n y jobs ing about $11 an hour— many of than white-collfrom laid-oworkers J pay-the- ff ar The attacks hit die core of New York City’s economy— financial services tourism retailing and entertainment— clashing the city's tax revenues while impos-in-g staggering new expenses for cleanup reconstruction increased security and social services Total estimated cost over the next two years: $106 billion Other areas hit hard economically were fx from Ground Zero among diem Hawaii and Florida which idy heavily on tourism and Seattle where Boeing cut 30000 jobs in its commercial aviation division! Anthrax scares and tighter border security drove up the cost of doing business nationwide Facing uncertain consumer demand businesses canceled options to What Earn DidUbu Know? Health-car- e Jobs were Demand is still strong for dental hygienists : and nurses - ’ wm m mitii mm MBaM |