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Hi Marcus,

It's hard to say what this means for the overall economy in the short-term. My personal feeling is that there are areas in the economy that will pick up more soon (mainly exports) and offset future lay-offs somewhat. And remember, it wasn't too long ago that AP was complaining that unemployment was too low and putting a strain on employers. I'm not saying we shouldn't keep an eye on this - we definitely should - but it's important to look at all other areas as well.

Anyway, it will certainly be something to watch going forward.

Best,

David K
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