BLS DAILY REPORT, WEDNESDAY, JUNE 13, 2000
RELEASED TODAY: In April 2000, there were 924 mass layoff actions by
employers, as measured by new filings for unemployment insurance benefits
during the month. Each action involved at least 50 persons from a single
establishment, and the number of workers involved totaled 101,359. Both the
number of layoff events and initial claimants for unemployment insurance
were the lowest for April since data collection for this program begin in
April 1995. ...
About half of disabled, unemployed Vietnam veterans said last year that
their disability prevents them from obtaining or keeping a job, compared
with about a third of all such veterans, according to the Bureau of Labor
Statistics (Wall Street Journal, "Work Week" column, page A1).
The U.S. economic expansion has reached its peak, according to projections
by the Conference Board. For all of 2000, the first quarter will turn out
to be the period of fastest economic growth, predicts the board's senior
vice president and chief economist. The forecast is based mainly on two
factors: the slowing of demand because of higher interest rates and the
recent trends seen in the board's leading economic indicators. Inflation
adjusted gross national product is expected to moderate from the robust 5.4
percent annual rate shown in the first quarter, to about 4.4 percent by the
fourth quarter of this year. ... "Every component of the leading economic
indicator is currently growing at a significantly slower pace than 6 months
ago," the economist said. The analyst also cited the widening U.S. trade
deficit as a cause for concern. Imports have grown at a faster rate, while
export growth has fallen off. "The trade deficit is an important pressure
valve when interest rates are low and growth is accelerating, but can be a
drag when interest rates are rising and growth is stabilizing," said the
economist (Daily Labor Report, page A-5).
The work of Megan Lipman, an American citizen, who works for Associates for
International Research, or Air-Inc. of Cambridge, Mass., pricing consumer
items in other countries, is described by The Wall Street Journal (page B1).
Numerous multinational companies and government agencies use data compiled
by Air-Inc. and its competitors to compute their expatriates' cost-of-living
subsidies. As more businesses globalize and the expatriate population
surges, employers are eager to keep a tight rein on their expats' expenses.
... She saw a tiny ad for a "Research Analyst/Surveyor" -- Responsibilities
include data collection, analysis and preparation of various statistical
data for cost of living analysis." But the last sentence intrigued her:
"Will spend at least one-third of time in international travel." ... "
DUE OUT TOMORROW:
Consumer Price Index -- May 2000
Real Earnings: May 2000
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