> BLS DAILY REPORT, MONDAY, MAY 21, 2001: > > The Midwest posted the largest increase in its unemployment rate over the > last year, bringing it to 4.1 percent in April, the Bureau of Labor > Statistics says. The sluggish economy -- highlighted by a national > jobless rate of 4.5 percent in April -- has affected labor markets in all > regions and states to some extent. The latest BLS figures showed that 41 > states recorded shifts of 0.3 percentage points or less in their > unemployment rates between March and April. Payroll employment declined in > 29 states during April, compared with March, with the largest percentage > decreases mainly in the Midwest (Daily Labor Report, page D-8). > > The number of "mass layoff actions" defined by the Bureau of Labor > Statistics as layoffs of at least 50 people from a single business, > increased in March 2001 compared with March 2000, according to a graph in > The Washington Post (page E2). In March 2000, the United States had 986 > mass layoffs. In March 2001, it had 1.527. Comparisons are also shown > for Northeast, South, Midwest, West, Maryland and Virginia. > > The struggle of the more than 3 million temporary workers nationwide is > perhaps the starkest sign of how rapidly the labor market has shifted > since late last year. "For the first time in 10 years, there are more > workers than jobs," said an executive vice president at the American > Staffing Association, a Washington group that represents temporary > agencies. In September of last year, when the national unemployment rate > fell below 4 percent for the first time since 1970, the number of people > employed by staffing firms stood at 3.5 million, three times the level of > a decade ago. Since then, however, the overall jobless rate has climbed > to 4.5 percent, and temporary employment has borne the brunt of it, > falling by 20 percent or 500,000 people. That is more than the combined > payroll reductions at automakers, restaurants, hotels and department > stores. In the last recession, from the summer of 1990 through early > 1991, the agencies' work force fell less than 13 percent, according to the > Bureau of Labor Statistics (The New York Times, May 19, page 1, and B14. > An accompanying table shows the employment of temporary workers 1982 to > the present, and source of the data is given as BLS). > > Labor demand across the country, especially in manufacturing, will remain > sluggish for at least a few more months as employers express caution in > their hiring plans for the third quarter, according to Manpower, Inc. > According to the latest survey of nearly 16,000 employers across the > country, the Milwaukee-based temporary help firm said 27 percent expect to > add staff in the third quarter, down substantially from the 35 percent > reading for the same period a year ago. "The projected hiring strength in > the present economy has declined for the second consecutive quarter, and > now seems to be approaching the 1990-91 levels in our survey history," > said the Manpower President and Chief Executive Officer (Daily Labor > Report, page A-3). > > The U.S. trade deficit in goods and services rose $4.3 billion in March to > $31.2 billion amid strong demand for imported consumer goods, the Commerce > Department's Census Bureau and the Bureau of Economic Analysis reports. > The sharp increase in March partially offset the plunge in imports during > February, which had brought the trade deficit to $26.9 billion -- its > lowest level since December 1999 (Daily Labor Report, page D-1; The New > York Times, page B3). > > Depressed demand abroad helped drive up the U.S. trade deficit to $31.2 > billion in March, according to government reports, that underscored how > sharply the American economy has slowed from last year's pace (The > Washington Post, March 19, page E8). >
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