[PEN-L:613] 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_01BDFD05.A8221500

BLS DAILY REPORT, TUESDAY, OCTOBER 20, 1998

RELEASED TODAY:  Regional and state unemployment rates remained
relatively stable in September.  The three regions for which data are
available reported little change from August, and 39 states and the
District of Columbia recorded shifts of 0.3 percentage point or less.
.... The national jobless rate was virtually unchanged at 4.6 percent.
Nonfarm payroll employment rose in 34 states and the District of
Columbia. ... 

The federal government cut 343,000 jobs in the 1990s through a sharp
reduction in defense payrolls and a restructuring of federal agencies,
according to a report from the Nelson A. Rockefeller Institute of
Government.  In the same years federal employment fell, state and local
governments added 2 million jobs.  Nearly three-fourths of the overall
federal employment decline came from a 281,000 fall in the number of
civilian Defense Department employees.  "The defense decline not only
reversed the 85,000 buildup of the 1980s, but reduced the total number
of defense jobs to 693,000, the lowest figure in a half century,"
according to the report by Samuel M. Ehrenhalt, a senior fellow at the
Institute. ... Employment for general federal government functions fell
by 100,000 jobs in the 1990s. ... (Daily Labor Report, page A-2).

New York needs to get over its dependence on the financial sector, says
Charles R. Morris, a financial consultant and author of "Money, Greed
and Risk:  The Course of Financial Crises," on the op. ed. page of The
New York Times (page A31). ... As of the end of 1997, security industry
employment accounted for 5.5 percent of New York City jobs, up from 5.3
percent in 1987 and for a staggering l9.3 percent of payrolls, up from
just 11.3 percent 10 years before.  The finance, insurance, and real
estate sector now accounts for 33.9 percent of all payrolls in New York
City, a big jump from 26.5 percent in 1987. ... When markets turn sour,
lamentations rise from the wreckage of upside-down mortgages and
repossessed Jaguars, and everyone vows not to let it happen again. ...
The problem may be that market crashes just don't last long enough to
generate the pain needed for true reform.  

Employment of those 16 to 24 years old rose 13.3 percent to 21.6 million
between April and July this year, the smallest gain in summer youth jobs
since 1991, BLS said.  BLS economist Sharon Cohany said that might be
because more school kids were already holding after school jobs in
April; also, she said, a higher minimum wage could have meant the
government funded fewer summer jobs (Wall Street Journal, "Work Week,"
page A1).

More black Americans than white for the first time say their financial
condition has improved in the past year, a poll of 1,700 Americans
conducted by the Joint Center for Political and Economic Studies
indicates. Experts say that's a sign that the strong economy finally is
reaching the black community.  Just over half of the African-Americans
surveyed, 51 percent, felt better off financially this year than last.
The number of blacks polled was 850, a larger sample than in most
national surveys.  In contrast, less than one-third of the whites in the
survey, 31.5 percent, said they felt better off. ... "It's the 4.5
percent unemployment rate, tight labor market, people getting jobs, and
wage increases," said an economist at the Brookings Institution and
former director of the Congressional Budget Office. ... (USA Today, page
1A).

DUE OUT TOMORROW:  Usual Weekly Earnings for Wage and Salary Workers:
Third Quarter 1998


------ =_NextPart_000_01BDFD05.A8221500
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------ =_NextPart_000_01BDFD05.A8221500--