[PEN-L:4128] BLS Daily Report

[Richardson_D]

This message is in MIME format. Since your mail reader does not understand
this format, some or all of this message may not be legible.

------_=_NextPart_000_01BE6655.DFC8E300

BLS DAILY REPORT, MONDAY, MARCH 1, 1999

The nation's average unemployment rate in 1998 fell to 4.5 percent, its
lowest level since 1969, BLS says in its report on state and regional
employment and unemployment. ...  All four of the United States' regions
experienced declines in the jobless rate in 1998. ...  (Daily Labor Report,
page D-12).

__A month-end economic review finds analysts are once again raising their
growth forecasts for the economy this year, caught off guard by the surge of
the last quarter and the signs of continuing strength that have turned up in
the January numbers from housing to factory orders.  Before the Commerce
Department raised the GDP estimate for the fourth quarter to 6.1 percent,
stronger than the already booming 5.6 percent reported earlier, analysts
were already pegging growth this year at closer to 3 percent, postponing the
long-heralded slowdown. ...  (Daily Labor Report, page D-1).
__The U.S. economy exited 1998 in overdrive, powered by the fastest rise in
consumer spending in more than a decade.  The quarterly increase in the GDP,
the measure of the country's total output of goods and services, brought the
economy's year-over-year growth rate to 3.9 percent.  That matched the pace
of 1997 and made it 3 years in a row in which the economy grew at better
than a 3 percent annual rate. ...  The blistering year-end performance and
some recent data showing a robust start in the first months of this year
indicate the U.S. economy has not only shaken off the jitters stemming from
financial crises in Asia and Latin America, but has prospered as falling
demand from those regions helped keep interest rates and inflation low. ...
(Washington Post, Feb. 27, page E1).
__Wearing the rest of the world's woes as lightly as a silk scarf, the
United States economy waltzed merrily into 1999, even faster than previously
thought. ...  Other than the spring quarter of 1996, when growth also
reached 6.1 percent, late 1998 was the most robust 3-month period of the
1990s. ...  At the same time, inflation dipped to an annual rate of 0.7
percent in the fourth quarter, the lowest since the Soviet Union launched
Sputnik more than 40 years ago.  For the year, the inflation rate was 1
percent. ...  (New York Times, Feb. 27, page A1).
__Spurred by an improving trade picture and enthusiastic consumer spending,
the U.S. economy ended 1998 with a flourish. ...  (Wall Street Journal, page
A2).
__The economy grew at its fastest pace in nearly 15 years last quarter,
closing out a year in which Americans enjoyed a combination of rapid growth,
low unemployment, and low inflation. ...  (USA Today, page 1B).

__Federal Reserve Chairman Greenspan laid out a stronger case than he has in
the past that the nation's extraordinary combination of strong growth, low
unemployment, and low inflation isn't a fluke, but rather largely the result
of fundamental changes in the economy.  Greenspan told the Senate and House
Banking committees that "recent experience does seem to suggest that the
economy has become less inflation-prone than in the past, so that the
chances of an inflationary breakout arguably are, at least for now, less
than they would have been under similar conditions in earlier [business]
cycles." ...  (Washington Post, Feb. 27, page E1).

A comprehensive, multi-year study concludes that mothers who work outside
the home are not harming their children.  The research, published in the
March issue of the journal "Developmental Psychology," assessed the
behavior, academic achievement, and psychological health of more than 6,000
children and found no permanent negative effects caused by their mother's
absence.  In some cases, the study found, the children may be helped by the
income their mothers brought in.  Experts say the new research supports what
other similar studies increasingly indicate:  That the quality of family
life generally, including the mental stability and maturity of parents, is
vastly more important in determining how children fare in life than the
question of whether their mothers are employed. ...  (Washington Post, page
A1; New York Times, page A17).

Asking for, or just making the most of, compensation such as training
programs, networking opportunities, or even quality of life benefits can
work in your favor at least as well as cash, says the "Career Track" feature
in the Business section of The Washington Post (page 9).  The found of
Rainmaker Thinking - a New Haven, Conn., company that researches the working
lives of Gen Xers - says he has found that the top choices of nonmonetary
rewards among twentysomethings include:  control over their work schedules,
training opportunities, exposure to decision makers, credit for projects,
increased responsibility, and opportunities for creative expression. ...   

Falling commodity prices are a calamity to some producers and a boon to
others -- and consumers get the short end, says another article in the
Washington Post's Business section (page 12). ...  In addition to record low
prices for virtually all grain commodities, other goods have bottomed out
over the past year -- steel, sugar, oil, and pork, to name just a few.
These devaluations have provided delight and disappointment to consumers.
The decline in oil prices, for example, has shown up at the pumps and
drivers have been positively giddy.  On the other hand, the precipitous
decline in the value of agricultural commodities has made no impact on the
price of such items as cereal, which actually has gone up.  The odd
confluence of low commodity prices is attributable to a number of factors.
The primary culprits are the Asian and Russian economic crises, which
precipitated a supply bottleneck in the United States when their formerly
plush markets dried up. ...  Aside from a few noticeable exceptions, those
reductions have not trickled down to consumers.  "Typically consumers do not
see much direct impact," said as assistant professor of finance.  "The
fraction of the budget for the raw product is relatively small. ...  Other
costs, including sales, marketing, and shipping, generally comprise far more
significant portions of production budgets. ...     

Federal agencies have hired more than 10,000 former welfare recipients in
the last 2 years, meeting a goal set by the White House 19 months ahead of
schedule, administration officials have announced. ...  (New York Times,
page A12).  

"Tracking the Economy," a feature in The Wall Street Journal (page A4), says
that the technical data forecast for the February unemployment rate, to be
released by BLS Friday, is 4.3 percent,  the same as the actual January
unemployment rate.  The increase in nonfarm payrolls is forecast to be
245,000.

The total annual cash compensation for a physician employed by a hospital,
HMO, or group practice averaged $158,800 in 1998, according to a
compensation survey of more than 800 health care organizations released by
the William M. Mercer Inc. consulting firm. ...  (Daily Labor Report, page
A-6).


------_=_NextPart_000_01BE6655.DFC8E300
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------_=_NextPart_000_01BE6655.DFC8E300--