ADVISORY/Three Leading Economists Join to Discuss the New Unemployment Statistics.

Business Editors

ADVISORY...for Fri. (Nov. 2)

--(BUSINESS WIRE)

Three Leading Economists from the National Urban League, the Institute for Women's Policy Research and the Economic Policy Institute Join to

Discuss the New Unemployment Statistics: What They Mean for African

Americans, Women, and the Nation as a Whole

          WHO:    Dr. William Spriggs, Director, National Urban League
                Institute for Opportunity & Equality; Dr. Heidi
                Hartmann, Institute for Women's Research and Dr. Jared
                Bernstein from the Economic Policy Institute

          WHAT:   Will hold a press conference to discuss the meaning of
                the latest unemployment statistics, including:

                  -   What these numbers indicate for the outlook for an
                    economic recession, including the projected size
                    and impact of such a recession.

                  -   Dr. Spriggs will review the unemployment rates for
                    African Americans - expected to be the highest we
                    have seen in the last five years) - and explore
                    why these numbers may not be affected by the
                    recently proposed economic stimulus package (more
                    information about the League's position on the
                    economic stimulus package is available at
                    http://www.nul.org/nulrejectsecon.html). Copies
                    will also be available on site).

                  -   Dr. Hartmann will review statistics for female
                    unemployment, and discuss how women -
                    disproportionately represented in the service
                    industry and among part-time workers where
                    weakness was already showing before September 11 -
                    will be at greatest risk economically, and how
                    that should affect the current debate on
                    unemployment coverage in the stimulus package and
                    future discussions centered around TANF (welfare)
                    reform.

                  -   Dr. Jared Bernstein of the Economic Policy
                    Institute will review the overall numbers - the
                    first comprehensive, national unemployment
                    statistics available since Sept. 11 - and discuss
                    how they provide the clearest view of the nation's
                    future economic landscape. Dr. Bernstein's
                    detailed analysis of the monthly unemployment
                    figures will be available by midday at:
                    www.epinet.org.

          WHEN:   9:00 AM, Friday, November 2, 2001

          WHERE:  Rayburn House Office Building, Room 2237

BACKGROUND

- The National Urban League

Dr. William Spriggs has experience as an Economist and Special Advisor in the office of the Under Secretary for Economic Affairs at the U.S. Department of Commerce; as Senior Economist for the Democratic staff of the Joint Economic Committee of the U.S. Congress; on a task force for the National Economic Council; as an Economist at the Economic Policy Institute and is President of the National Economics Association and a member of the National Academy of Social Insurance.

The National Urban League Institute for Opportunity & Equality is a research and public policy unit of the National Urban League that is dedicated to the pursuit of economic self-reliance and equal opportunity for African-Americans. Dr. William E Spriggs, Director, oversees the Institute's day-to-day operations. Nationwide Insurance provides major funding for the Institute.

The Urban League is the nation's oldest and largest community-based movement devoted to empowering African Americans to enter the economic and social mainstream. The National Urban League, headquartered in New York City, spearheads the nonprofit, nonpartisan movement, while Urban League affiliates operate in more than 100 cities in 34 states and the District of Columbia.

- The Institute for Women's Policy Research (IWPR)

Heidi Hartmann founded IWPR in 1987 to meet the need for women-centered, policy-oriented research. She holds a B.A. in Economics from Swarthmore College and M.Phil and Ph.D. degrees in Economics from Yale University. In 1994, she was the recipient of a MacArthur fellowship award. Commonly referred to as the "genius grant," this fellowship was awarded to recognize her pioneering work in the field of women and economics. At IWPR, Heidi has co-authored several reports including Unnecessary Losses: Costs to Americans of the Lack of Family and Medical Leave; Who Needs a Family Wage?: The Implications of Low-Wage Work for Family Well-Being; Women's Access to Health Insurance, Combining Work and Welfare: An Alternative Anti-Poverty Strategy and The Impact of Social Security Reform on Women. Before founding IWPR, she taught at Rutgers University and the New School for Social Research and worked at the National Academy of Sciences and the US Commission on Civil Rights. Heidi is originally from Toms River, New Jersey.

The Institute for Women's Policy Research (IWPR) is a public policy research organization dedicated to informing and stimulating the debate on public policy issues of critical importance to women and their families. IWPR focuses on issues of poverty and welfare, employment and earnings, work and family issues, the economic and social aspects of health care and domestic violence, and women's civic and political participation.

- The Economic Policy Institute

Jared Bernstein, a labor economist, joined the Economic Policy Institute in 1992. Between 1995 and 1996, he held the post of deputy chief economist at the U.S. Department of Labor, where, among other topics, he worked on the initiative to raise the minimum wage.

The Economic Policy Institute is a nonprofit, nonpartisan think tank that seeks to broaden the public debate about strategies to achieve a prosperous and fair economy.