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THE ECONOMY.(TO THE POINT)

Investor's Business Daily

| April 01, 2002 | COPYRIGHT 2002 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Help-wanted index rose in Feb.

The Conference Board's gauge for business hiring rose four points to 51 from Jan.'s 47. That's still below the 72 level of a year ago. The business group said help-wanted ads rose in seven of nine U.S. regions in the last three months, a sign the economy has bottomed. But ad volume remains "at its lowest level in four decades."

Mass layoffs in Feb. fell to 138,984 from 263,821 in Jan., the Labor Dept. said. Mass layoffs hit 172,908 a year earlier.

U.S. corporate profits fell in Q4

Pretax profits fell 9%, or $61.2 bil, in Q4, the Commerce Dept said. After-tax profits slid 5.3%, or $10.8 bil. But excluding the effect of recent corporate tax relief, pretax profits rose $85.3 bil and after-tax profits $60.8 bil.

Mortgage rates continue to rise

The average 30-year fixed-rate rose to 7.18% in the March 29 week from 7.14% the week before, Freddie Mac said. That's the highest since last July. The rate was 6.91% a year ago. The 15-year rate, popular for refinancing, climbed 4 basis points to 6.69%. The one-year adjustable rate was flat for the week at 5.11%. ARMs averaged 6.32% a year ago.

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