BLS DAILY REPORT, FRIDAY, MARCH 31, 2000
The following appeared in a Washington Post article (page A1) about the
"flap" over filling out the long form of the census: "Census officials said
it is too early to tell whether complaints about the long form could
discourage people from sending it in. That possibility alarms government
statistical agencies because long-form figures are the basis for building a
national sample of households. Information gathered from that sample
becomes the basis for several key economic statistics. For instance,
Katharine G. Abraham, commissioner of the Bureau of Labor Statistics, said,
`Without accurate long form data, it would be far more difficult and far
more costly for us to produce an accurate consumer price index.' ... "
Economic growth in the first 3 months of last year raced ahead at a 7.3
percent rate, even stronger than previously estimated, the Commerce
Department says. The increase in real gross domestic product -- output of
goods and services produced in this country -- was the largest since a 9.0
percent gain in the first quarter of 1984. Commerce had earlier pegged the
fourth-quarter real GDP at 6.9 percent, but new data showed that exports
turned in a stronger performance. The acceleration in the fourth quarter
lifted growth for the year to 4.2 percent, from 4.1 percent estimated
earlier. The economy grew 4.3 percent in 1998. ... (Daily Labor Report,
page D-1)_____The red-hot U.S. economy, powered by heavy spending by
consumers and the federal government, roared ahead at an annual rate of 7.3
percent in the final 3-months of 1999, the fastest pace in nearly 16 years.
Even with the stronger fourth-quarter growth, inflation remained well
behaved. An inflation gauge tied to the GDP was up at an annual rate of
just 2 percent, little changed from a 1.7 percent increase in the third
quarter. The upward revision of the GDP is the result of a slightly smaller
trade deficit, reflecting stronger exports and slightly lower imports, and
strength in construction activity, reflecting the warmer-than-usual start to
winter. ... (Washington Post, page E2)_____The fourth quarter capped the
third consecutive year in which the economy grew faster than 4 percent.
Consumer spending, buoyed by rising confidence and unemployment at close to
a 3-decade low, fueled the fourth-quarter gain in gross domestic product as
the economy closed in on a record expansion that begins its 10th year this
week. ... (New York Times, page C5)_____Several Federal Reserve officials
said the rate wasn't enough to justify more aggressive moves to fend off
possible inflation. ... (Wall Street Journal, page A2)
The number of seasonally adjusted new claims for unemployment insurance
benefits filed with state agencies rose by 3,000 to 266,000 in the week
ended March 25, the Employment and Training Administration announces. ...
(Daily Labor Report, page D-16).
The help-wanted index edged down 0.1 percentage point in February, but
remained at a high level as labor markets remained tight and employers
scrambled to fill vacant positions, the Conference Board reports. ... The
index slipped to 88 percent in February from 89 percent in January. It
stood at 93 percent one year ago. The index, which is based on help-wanted
ads appearing in 51 U.S. newspapers, compares monthly ad levels with the
average volume recorded in 1987. The difference is expressed as a
percentage. ... (Daily Labor Report, page A-1).
application/ms-tnef
