The Economy.(A)

Job market rebounded, still tight

It tightened modestly in January after a fourth-quarter lull, said staffing firm executives polled by Market News. Recruiters say the headline layoffs - 26,000 at DaimlerChrysler, 16,000 at Lucent, 4,000 at Xerox - don't necessarilyreflect widespread weakness, just softness in a few sectors. One recruiter said he's concerned that doom-and-gloom media reports could become self-fulfilling prophecies. He said "neg

ativity about the economy has been overemphasized by the press," which could spur a downward spiral if firms become too cautious. Some recruiters said wage pressures have almost completely vanished. But they might return, since now-worthless stock options no longer provide quick and big money.

CEO departures continued at a rapid pace in January with 119 CEO exits, the second highest on record, said outplacement firm Challenger, Gray & Christmas.

Worries over heating oil shortages in New England this winter have melted away,thanks to heavy imports and a stretch of warm January weather, a trade group says.

Construction starts seen slowing

Total construction rose just 3% in 2000. That's a sharp deceleration from the 10% average in 1997, 1998 and 1999. In 2001, the slowing economy and tighter lending conditions will make it even harder for the industry to grow, F.W. Dodge says. In December, home and apartment building fell, but hotel construction rose. F.W. Dodge says home and commercial building will fall whilepublic works projects continue to grow.