The unemployment rate hovered near 5-3/4 percent through much of 2002 and the first quarter of 2003; capacity utilization has recovered only a fraction from its lowest level since the very deep recession of the early 1980s.
Please, do not misunderstand me: Considering the first-class participants list of this conference and the high quality of the papers selected, I am convinced that the academics at this conference will speak with the authority of people who absolutely know their trade. I have no doubt whatsoever on this score.