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BLS DAILY REPORT, FRIDAY, JANUARY 16, 1998
RELEASED TODAY: In July through September of 1997, there were 978 mass
layoff actions by employers, resulting in the separation of 183,073
workers from their jobs for more than 30 days ....A year earlier,
employers reported that they had laid off 226,660 workers in 1,018
extended layoff events ....
New unemployment insurance claims filed with state agencies edged up by
3,000 to a seasonally adjusted total of 335,000 in the week ended Jan.
10, Labor Department's Employment and Training Administration reports
.....(Daily Labor Report, page D-1; The New York Times, page C7).
Business inventories increased 0.4 percent in November, continuing a
trend in which the amount of goods on hand rose throughout 1997, the
Commerce Department reports ....(Daily Labor Report, page A-6).
A buildup of inventories at American businesses and an increase in
claims for unemployment insurance offered hints that the economy's
vigorous growth is slowing ....(Washington Post, page G1; New York
Times, page C7).
Three economists attending a round table discussion sponsored by the
National Association of Manufacturers predicted that overall inflation
will continue to ebb this year, as Asia's financial crises and falling
oil costs rein in price pressures. But no pattern of out-and-out
deflation-that is, an outright decline in the average price level - is
likely in 1998, NAM President Jerry Jasinowski, Joel Popkin, president
of Joel Popkin & Co., and A. Gary Shilling, president of A. Gary
Shilling & Co. Inc., said. Rather, the 1998 outlook is one of continued
disinflation, that is, a slowdown in the rate of inflation ....(Daily
Labor Report, page A-5).
North American carmakers are driving themselves into a tight corner of
the global auto market by producing huge numbers of light trucks,
according to a new industry report. But the report said the automakers
might have no choice because demand for light trucks is soaring in North
America, which is awash in cheap gasoline ....The profits from truck
sales are coming at the cost of small-car expertise in a world where
small cars are the norm and trucks ... are a market aberration
.....(Washington Post, page G3).
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