voa标准英语2008年-World Markets, Oil Prices Decline Thursday

World markets were mostly lower amid further evidence of economic hardship in the United States and a slowing global economy. From Washington, VOA's Michael Bowman reports.
　

Traders at New York Stock Exchange, 20 Nov 2008

The number of Americans looking for work continues to rise, as the U.S. Labor¹ Department reports new claims for unemployment benefits have hit a 16-year high.

There were 542,000 unemployment claims filed last week, bringing the four-week average to just over half a million - the highest figure in more than 25 years. Any weekly number above 400,000 is considered an indication of hardship in the U.S. labor market.

"What it [the new claims number] tells us, is the job market is just getting worse and worse," said Stuart Hoffman, chief economist² for PNC Financial Services. "And it is affecting more and more people in different industries and different parts of this country."

The worsening jobs situation has not gone unnoticed at the White House. Spokeswoman Dana Perino says President Bush supports congressional action to extend the duration of unemployment benefits.

"The recent financial and credit crisis has slowed our economy dramatically," she said. "It is having an impact on job creation. And because of the tight job market, the president believes it would be appropriate to further extend unemployment benefits. And he would sign legislation that is now in front of Congress."

The Bush administration wants Congress to act on a benefits extension before the upcoming holiday recess³.

If there has been a bright spot for consumers in recent weeks, it is the precipitous plunge⁴ in oil prices. Oil traded below $50 a barrel, down from nearly $150 a barrel just a few months ago. With cash-strapped consumers spending less on fossil fuels, they have more disposable income to pay for other necessities.

But economists⁵ say falling energy prices are a mixed blessing⁶, since they reflect lower demand caused to a large degree by a dramatically slowing global economy.

"We have seen the demand for oil change in a way that we have not seen since probably the oil shocks of the 1970s. Right now oil is getting pounded because the stock market looks terrible and all the economic news is bad," said energy analyst⁷ Phil Flynn.

Flynn says he would not be surprised if oil drops to the $35 a barrel range in coming weeks.

Major markets in Asia and Europe all closed lower. In Tokyo, shares plunged⁸ nearly seven percent, and in London, stocks fell more than three percent. Wednesday, New York's Dow Jones Industrial Average closed at its lowest level in five years.

No one knows just how low the market will go, according to economist Peter Cardillo of the New York-based investment group Avalon Partners.

"The market is gripped with fear, and of course the big fear is: how long will the recession last? There is just a lot of negative sentiment out there. This market has had a major decline, and somewhere along the line it will begin to stabilize," he said.

Meanwhile, a private American research firm, the Conference Board, says its index of leading economic indicators⁹ fell 0.8 percent last month. In recent months the index, seen as a reliable predictor of future economic performance, has declined at its fastest rate since 2001.

1 labor   

n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦

参考例句：

• We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
• He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。

2 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

3 recess   

n.短期休息，壁凹（墙上装架子，柜子等凹处）

参考例句：

• The chairman of the meeting announced a ten-minute recess.会议主席宣布休会10分钟。
• Parliament was hastily recalled from recess.休会的议员被匆匆召回开会。

4 plunge   

v.跳入，(使)投入，(使)陷入；猛冲

参考例句：

• Test pool's water temperature before you plunge in.在你跳入之前你应该测试水温。
• That would plunge them in the broil of the two countries.那将会使他们陷入这两国的争斗之中。

5 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

6 blessing   

n.祈神赐福；祷告；祝福，祝愿

参考例句：

• The blessing was said in Hebrew.祷告用了希伯来语。
• A double blessing has descended upon the house.双喜临门。

7 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

8 plunged   

v.颠簸( plunge的过去式和过去分词 )；暴跌；骤降；突降

参考例句：

• The train derailed and plunged into the river. 火车脱轨栽进了河里。
• She lost her balance and plunged 100 feet to her death. 她没有站稳，从100英尺的高处跌下摔死了。

9 indicators   

（仪器上显示温度、压力、耗油量等的）指针( indicator的名词复数 )； 指示物； （车辆上的）转弯指示灯； 指示信号

参考例句：

• The economic indicators are better than expected. 经济指标比预期的好。
• It is still difficult to develop indicators for many concepts used in social science. 为社会科学领域的许多概念确立一个指标仍然很难。