The economy is looking good!

There are considerably more job openings now (at least, so far as I have seen in Mass. IT) than there had been in the last four or five quarters. There are a lot more listings online and in the paper, and I'm getting more phone calls than I did in '03. So there's progress here - curious to see if it's serious interest in hiring or just a lotta hot air.

The employment numbers during these past few months are showing strength of our economy. It will be a stable, slow growth - IMHO. Considering the high price of fuel and the threat of terrorism, the world economy is beginning to show some strength. It's encouraging.

Didn't something happen recently with OPEC that will possibly help with the cost of fuel too? I'm not sure what it was, I just heard it on my way past a TV a little while ago.

kickycan, Yes, OPEC is going to increase production, so that should help the world economy by reducing fuel cost.

From what I've been hearing to OPEC move will stabilize rather than reduce the cost. Which it good, fuel will not go any higher, but it won't come down.

There's enough oil off the coast of California to make us make us non-dependent on the middle east. Find an environmentally safe way to harvest it and you'll be rich. You'll also learn alot about enviro-freaks.

Oil Down 10 Percent After OPEC Deal

Fri Jun 4, 3:34 PM ET Add Business - Reuters to My Yahoo!


By Richard Valdmanis

NEW YORK (Reuters) - Oil prices dropped nearly 10 percent from recent record highs on Friday as rising stockpiles in the United States and the promise of more OPEC (news - web sites) barrels soothed worries of a summer supply crunch.


U.S light crude futures settled down 79 cents to $38.49 a barrel -- nearly $4 below a record futures high of $42.45 a barrel hit midweek. Brent crude in London was down 73 cents at $35.67 a barrel.


Dealers said an increase in U.S. oil supplies to their highest level in nearly two years and an OPEC deal to raise its output ceiling outweighed underlying fears over rapid global demand growth and turmoil in the Middle East.


"The OPEC determination to reduce prices psychologically weighs on the market," said Tom Bentz, energy market analyst at BNP Paribas in New York.


The Organization of the Petroleum Exporting Countries agreed in Beirut on Thursday to raise formal output limits by 2 million barrels per day (bpd) from July 1 and another 500,000 bpd from August.


OPEC members Saudi Arabia and the United Arab Emirates have said they will deliver about 1 million bpd of real extra oil in June, in advance of the official hike.


The cartel's plan undershot market expectations that Saudi Arabia would lead the cartel to an immediate quota increase of 2.5 million bpd, or 11 percent, but dealers said they were nonetheless convinced of the group's intentions to cool the red-hot market.


High oil prices have rippled across many sectors of the economy, sparking fears over inflation and raising costs for airlines, manufacturers, truckers and the average driver in the early days of the summer driving season.


The losses were also supported by signals of increasing energy stockpiles in the United States, the world's biggest petroleum consumer.


The U.S. Department of Energy (news - web sites) (DOE) said on Thursday that national crude oil supplies rose last week to the highest level since August 2002, helped along by near-record imports of 10.7 million bpd.


The DOE said the tide of imports, which fell just short of a record flow of 10.76 million bpd hit last September, was accompanied by a surge in cargoes from Mexico.


The DOE said in a separate report that record high energy costs, including those at the pumps, could start to ease in the coming weeks, thanks to the expected increase in crude oil shipments from OPEC producers.


U.S. Energy Secretary Spencer Abraham (news - web sites) added on Friday he has urged American oil refiners to run at full capacity to ensure there is plenty of gasoline for drivers.


Retail gasoline prices in the United States average roughly $2.05 a gallon but remain about half those in parts of Europe, where the taxman takes a larger share.


Oil dealers, however, were served a sharp reminder Friday of the risks to supply security in the Middle East -- a factor that analysts say will continue to keep a floor under the price of a barrel.


Al Qaeda's leader in Saudi Arabia praised an Islamic militant attack in the Saudi oil city Khobar last weekend that killed 22 people for its impact on crude prices, signaling that oil has become a key strategic target.


The operation in Khobar "put the Saudi government in a deep crisis," Abdulaziz al-Muqrin said in a statement on an Islamist Web site.


"It took the price (of oil) to its highest levels of over $42, while Saudi Arabia is committed to America's prosperity by providing oil at the cheapest prices."

Uh oh! C.i.'s turned optimistic.

roger, According to the pundits, we're still 1.2 to 2 million net jobs down since Bush took over the w.h.; the worst recovery of jobs since the depression. However, the added jobs during the past three months is encouraging. I still say that the economy will grow slowly but steadily. I think the feds need to increase interest rates more than one percent; there's too much money in circulation in addition to the federal deficit, and the potential for uncontrollable inflation will be the price all of us will pay. I heard some pundits on t.v. today that made the claim that middle class families lost $1,600 in purchasing power during Bush's tenure. That may be pretty close to being the truth; the added productivity of the American worker has not benefited in increased salaries during the past three years. Profits are showing promise, and that may translate into more jobs in the coming months. Keep our fingers crossed.

According to the San Jose Merc, even Silicon Valley's employers are beginning to hire again. That's a damn good sign of a recovery - considering that California is the 5th largest economy in the world.