US job quality lacking; $40 oil prices insight, CIBC World Markets Economics report says

US job quality lacking; $40 oil prices insight, CIBC World
Markets Economics report says 


TORONTO, April 6  /PRNewswire-FirstCall/ -- The latest CIBC World Markets'
Monthly Indicators Report for April 2004 highlights a lack of quality in recent
US jobs gains and a bullish view on energy prices, with $40 per barrel oil
prices.

On the US employment front, CIBC World Markets senior economists Avery Shenfeld
and Benjamin Tal report that "Not only are better quality jobs being lost, but
those without them are finding it harder to get back to work." The result, the
report says, is that US workers are either turning to self-employment options or
are settling for whatever they can get in terms of paid employment.

The report also features an article on recent trends in world oil demand and
production and raises the very real specter of $40 oil prices in the not-too
distant future. CIBC World Markets' Chief Economist Jeffrey Rubin and Senior
Economist Peter Buchanan suggest: "Depletionists, rather than pinning their
hopes on future cost-saving technological breakthroughs, see underlying resource
scarcity driving the global energy supply picture. If they're on the mark - as
appears increasingly likely - global conventional oil production should be
peaking at around the 65 million barrel daily level, raising the specter of $40
oil."

April's Monthly Indicator Report also features articles on the economic impacts
of upcoming elections in both the US and Canada. A copy of CIBC World Markets'
Monthly Indicators Report is available at http://www.cibcwm.com/research.

CIBC World Markets is a full service corporate and investment bank throughout
North America, with operations in Asia, Europe and Australia, and serving more
than 8,000 corporate, government and institutional clients. CIBC World Markets'
parent company is CIBC, one of North America's first and largest financial
institutions with offices in 18 countries, including the world's major financial
centers. A publicly traded financial services company, CIBC has assets of
US$210.1 billion and a market capitalization of almost US$16.2 billion. 

DATASOURCE: CIBC World Markets



CONTACT: Avery Shenfeld, Senior Economist, CIBC World

Markets at [phone] or ; or Rod Cumming, Senior

Manager, Marketing and Communications, CIBC World Markets at [phone] or

Copyright