By Evelina M. Tainer, Chief Economist, Econoday
7/6/01

Several economic indicators reported during the week showed modest signs of improvement, yet the June employment report erased all that with a rise in the jobless rate and a larger-than-expected drop in nonfarm payroll employment. Since the employment situation tends to set the tone for the month, we are likely to see quite a few negative indicators over the next four weeks -- including a negative GDP report for the second quarter.