BLS DAILY REPORT, WEDNESDAY, MARCH 22, 2000
The Labor Department's Bureau of International Labor Affairs reports the
service sector has generated the most job growth since the 1980s in both the
United States and Europe, but the growth has been much stronger in the
United States. ILAB made the announcement in releasing a compilation of
issues papers from an October joint seminar on job creation and
entrepreneurship. ... (Daily Labor Report, page A-2).
The Federal Reserve clamped down a bit more on the economy, raising interest
rates a quarter percentage point in an effort to prevent an outbreak of
inflation. The move was no surprise to economists and investors, who had
heard repeated hints the last month from Alan Greenspan, the central bank's
chairman, that he intended to stick to his policy of raising rates in small
steady steps until he saw signs that the supercharged economy was throttling
back. ... (New York Times, page A1; Washington Post, page E1; Wall Street
Journal, page A3).
The U.S. trade deficit in goods and services widened again in January,
jumping 13.8 percent to a new record, the Commerce Department reports.
Exports in January declined 1.8 percent, while imports rose 1.7 percent. By
country, the latest data show the bilateral deficit with Japan and with
Western Europe narrowed in January, but the gap with China, Canada, and
Mexico all worsened. ... (Daily Labor Report, page D-1)_____Faltering
computer exports and the higher price of imported oil helped create a big
upward spike in the U.S. trade deficit in January. ... The number has risen
almost every month since 1997. ... (Washington Post, page E1; New York
Times, page C2; Wall Street Journal, page A2).
DUE OUT TOMORROW: Extended Mass Layoffs in Fourth Quarter of 1999
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