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RESERVES: The vault cash and deposits at the Federal Reserve System that banks use to complete day-to-day transactions.

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CYCLICAL UNEMPLOYMENT

Unemployment attributable to a general decline in macroeconomic activity, especially expenditures on gross domestic product, that occurs during a business-cycle contraction. When the economy dips into a contraction, or recession, aggregate demand declines, so less output is produced and fewer workers and other resources are employed. Hence unemployment of the cyclical variety increases. Cyclical unemployment is one of four unemployment sources. The other three are seasonal unemployment, frictional unemployment, and structural unemployment.

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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either storage boxes for your family photos or a large, stuffed giraffe. Be on the lookout for infected paper cuts.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
"Life is not a 'brief candle.' It is a splendid torch that I want to make burn as brightly as possible before handing it on to future generations. "

-- Bernard Shaw, journalist

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