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_01BD2C9B.E8483040 charset="iso-8859-1" BLS DAILY REPORT, WEDNESDAY, JANUARY 28, 1998 _____Private industry wages accelerated in 1997, driving up overall compensation costs 3.4 percent in the year - the largest increase since 1993, BLS reports. Wages and salaries in the private sector rose 3.9 percent in 1997, the largest calendar year increase since 1990. The acceleration in wages has prompted some economists to proclaim that wage inflation - long expected - has finally arrived ....(Daily Labor Report, page D-1). _____Bond prices tumbled amid new worries about inflation after the Labor Department reported that private employers' labor costs rose 1.2 percent in the final three months of last year, the largest quarterly increase in five years. But details of the report showed that a large share of the acceleration was driven by skyrocketing commissions related to the wave of mortgage financings and refinancings triggered by a sharp drop in interest rates. A number of analysts said that, given the source of the acceleration, the report did not give any reason to expect inflation to worsen this year ....(Washington Post, page C9). _____Bond prices tumble on a report showing rising labor costs ....A one-time surge in commissions may have pumped up data on wages ....(New York Times, page D10). _____The ECI showed that pressure from tight labor markets continues to escalate ....(Wall Street Journal, page A2). Personal income increased 1.1 percent in the third quarter of 1997, the smallest quarterly increase in two years, but still more than double the inflation rate of the period, the Bureau of Economic Analysis reports .....(Daily Labor Report, page D-15) Although the number of new businesses started nationwide in 1997 fell slightly, the number of jobs created by start-ups grew strongly compared with 1996, according to a report by Dun & Bradstreet ....(Daily Labor Report, page A-10). Consumer confidence fell in January from a record high in December 1997 as consumers relayed concern about the impact of the Asian economic crisis on the U.S. economy, the Conference Board says ....(Daily Labor Report, page A-3; Washington Post, page C9; Wall Street Journal, page A2). For the fourth consecutive year, national health spending for 1997 is expected to have grown no faster than the GDP, the longest period in the last 30 years in which health expenditures have not outpaced economic growth, according to Congressional Budget Office projections ....(Daily Labor Report, page A-8). Record 1997 profits for Detroit's Big Three automakers will translate into record profit-sharing checks for hourly and salaried workers at General Motors Corp., Ford Motor Co., and Chrysler Corp., executives say .....(Daily Labor Report, page A-2). Unemployed hit brick walls even in good times, says a USA Today story (page 1B). Fruitless efforts frustrate the young, and the old ....One of the statistics overlooked in this booming economy is unemployed workers struggling to find jobs despite a 4.7 percent unemployment rate - a 24-year low. Some of these jobless are young workers lacking skills. But many are executives and managers with sterling resumes, proven experience, and Ivy League educations. The problem is finding a place to go ....Many simply give up. BLS reports 345,000 people weren't looking for a job in December because they were discouraged over job prospects. That compares with 331,000 the month before. The average duration of unemployment was 16.3 weeks in December, up slightly from 15.6 weeks the month before .... ------ =_NextPart_000_01BD2C9B.E8483040 b3NvZnQgTWFpbC5Ob3RlADEIAQWAAwAOAAAAzgcBAB0ACQA5ABsABABUAQEggAMADgAAAM4HAQAd AAkANgAjAAQAWQEBCYABACEAAABGQjI2NUM1ODhEOThEMTExODg4RTAwMjBBRjlDMDMwOAAWBwEE gAEAEQAAAEJMUyBEYWlseSBSZXBvcnQAkAUBDYAEAAIAAAACAAIAAQOQBgCYCwAAHQAAAAMALgAA AAABvSw/QHRfD52dl8cR0ageACCvnAIwACGeI9IAHgAxQAEAAAANAAAAUklDSEFSRFNPTl9EAAAA AAMAGkAAAAAAHgAwQAEAAAANAAAAUklDSEFSRFNPTl9EAAAAAAMAGUAAAAAAAgEJEAEAAADLCAAA xwgAAFgPAABMWkZ1i3t98/8ACgEPAhUCpAPkBesCgwBQEwNUAgBjaArAc2V0bjIGAAbDAoMyA8UC AHDccnESIAcTAoMzA8YT5f59CoAIzwnZAoAKgQ2xC2DgbmcxMDMUgAsKEvIzDAETkG90BZAFQEJM QQXwREFJTFkH8EUAUE9SVCwgV0VQRE5FUxpwWRswSiBBTlVBUhqwMjhhGzAxOTk4CoUKhV+lHeJQ BRB2YRngIAuAAGR1c3RyeSB3jGFnB5EA0GNlbASQrR5xZB6hHLI3GzBkHkEBC4BnIHVwIG92TR/x bAMgBaBtcAnwcz0ecGkCICIRHvAEIDMudDQgIlByH8ACMCBSdDJoHpB5ZQrCCfBkYdhzaCAkMwtg ch9hI/L3BQAkkBHwIACQJjAekBzBLjMbMBoyFmBwFgFzLv0lQFcfVB7AJqAHQArACJD/BCAkFROQ HlQR8BoABbEDYLsmgSNQOSOKIJQlamMHQE8k4gXAJIMmLzkwKCFU/yRRH6cisiBhH0QRwAQgGbG7 IkAgInMDcB6QBZFuA3CvBAAjISqgMVJjC2FtJDH/HnAfMx6hF+EioyTXFfAhQXxleCJQGgAgMSTX MSJmPwuAIeEfIArAHkE2Mic4sDUuKEQLcDeBTAGgPQWxUifDGzAKsDQhRC3oMSkuHXpCAiAgQCnx ux/AMtF1BtAf4CBAYTKQdSBAbgfRdwWwKTM5AXV7I/I0dmEBgASQJDM49ET7J8AKwHQHgCPhJ7Qg MTOzvSn2ZSJAFfAkgBHgJyWR5zkSIvQq4zEuEiAjnTczWyQxCdEgBGACMGgEIG+eZiWRJfEkgixs cXU/sf8EkDeBLicgYTcwIbAkcygS/kI9sQ2wAZADEEWTJEIntNEmoGhvd0CWYSWUSxH/CsAekEpF L8sfQAQgIPIJ8EQgYh8gc2t5MzFr/xIAITIiITKRAJACIELhH9D/IBMy8SRCH0BI0UWxBGAAIP5n NBI3Mi4wITEolBZgUnn5HwBpZx9gFmFOokvgTGL7IYAg8G8hgCBhC4A+oSXi+yACKBJBPLA8AT6x RbEAcH0HQHkjEiKAPJEzshswZ/9OYyRCMfAIcCbhTM8CICxk/Uq1ZDySGdBZAyihHyAmUv8iwTLx NdQ0STLxPQER8CQi/wQAJHU4QyhQJSAhMSqgA6DmUCMBObVDOTpfO20hkP8+YUqqITIFECaxIVBC Sjgzs1cQAiBlLSKgMhFzCHC/NCNPqwDAHyARwEjRcDwA/yJQIEAhcSUAAZBkAh9EODT1B8JZBbBr L3AHcjm2GDDjYgwvgkVDSUsbE5AHkN9ngURhA2EkMFRQaAVAQkT/AMBroBIABCAyUU9hClAy098H kC1BHnJgJiHxUx8ACeCdBUBKCGE3UTm1QTJiB/0KhVBB8QIgRLEuITICLib7IEBDUDEjjl+BCyBH RkWivSwocwDAIfBHH0gndD0A+0j0GzBiPbEe8AMQAyBR4ft4MgORZAhgY9IkQjRYIAJ3SjYjkSKw ZCxkSYAmUXX1RaJFMlRjE9BX41+hJ7UjOC85PzE1KR0MQWz/JEAIYG/gJDNXODzCfKAmsf9vAQeR HvB6sjyhIpMD8A2wzyBWNyAf0AMgc2xv0jeA4yxkVzhqb2Jw4SZRICL7TrKIgi0hcAQgCcEH4B7x /zWRN4EiIkyBIEAD8CRAHLL+NhswH6EFsFwgIUEy8WRHaU6xRHUDoCYaICAAZO8e8XNCgv+EDEE6 MGy4CoX/CFAAgDwAPrEyUTcwDbAm0vuKIyBhSgBweqEfIG9zZEL/j9IxEG/RIFI/gB/AV1OJ0/8x MTJRlbNQVCSAIEAyUR/AvwShPYR+U46RGgFKRUEAkH8DkTJFgcAFAYIyXXIkUVX8LlMoIDJEiuWV gYogFmB/JtJi4AsRKOFYEJJPk18z/jsoQWCvYbOjwnLvc/8dZv5GBbFEQwhhjyGaMgWQPbB/SMYb MIj0RLEkUAdAjyFz/yJRkAMCEJmVX6E11zLxaRP/CcBLQAOgMnA3IEXxPrMDkfEkQkdEUCxlNZEl 4n/08yQGReMzMEj0MINfkBGw/6rWNdKrgTvwVkFpBFxiPaH/nJEgMZ23rbIkQI+dlYEJwbdQA0Sx SYBkH2AFQE8N0Hs7oTFSahnxUCOhr5NuOP90jjlQmFOJ0xmxNzAjIavi1z+AjfGPECcEIEJUUC9x /0UCgPAqoADAT0CaoQPwIfF/HwAAcXITVgEzAJg1vUQt/0xiT3MkUE8wvaSGQUeyKLnvjuFrkZqS M9FHCfAhwgXQ7xnQXyGVcVVQLhswqEEgQO/Fs5VxxmEoskNE8FgQH+H/xhY10Kl1WEIfILlvk26n P/5VPMBBpJiCkPE7kWuwH0DPIfCsgU5yIGFnb7CRZzKnbBGhU0vgVVNXEFQEcC9o4R7wBbAfICg5 0zFC42IAJUBGcnWPEHpBrIH/DdCCowNQHuIeciRDCGAYEO/HdCRCBvA4FU88wEo2iHG7IqB84WNF kSGxFfBvT0D/sKVfoQbgMoE1op+ErGKRUP/NB8SGHvGGYI4wkBU3MSBAH4vzDbCrUI8QL6EgNC5/ vSEjpdlGP+RyIyTmS+AyrDQtJIMV8HcoIVMyAv9KRCaBi/HSU0yC1APEdwtg/08wITJO4H0BSUYD gTeSMiH/yOgosgOBH1G/w6sietJlE/8HkJXBbBIDYE5yNdIIgSbR2cd0SXbKYSSQZwpQMjD/HtAt QLkDL1UZsTwhM5Bfof/bUiEyS+ALUSbhMvHPEMm0/k1c8gCQQaEfIFyjIXBJUsMniCNANDUsMO9A I4HvVaBj4UtQoJEncAHXMaum/0vgi/GY61dgLUAe4H4zHyH/VIFcEQTwCGEfUSBAIaLxQ/8ZsatR GgDqBDPRjnXlxRhQvjHvMyRCRUPyQavhZS9WfyGyNCEe0DAlRbHdW04CMeg2LjPv4WXC0Zj5GzDP IXGKdm9khQAuNvs19z5fybQKjxkfHWYXgQACcAADAPE/CQQAAAMA/T/kBAAAAwAmAAAAAAADADYA AAAAAAIBRwABAAAAMAAAAGM9VVM7YT0gO3A9QkxTO2w9RENQQ1NNQUlMMS05ODAxMjkxNDU3Mjda LTE5MzIwAB4AOEABAAAADQAAAFJJQ0hBUkRTT05fRAAAAAAeADlAAQAAAA0AAABSSUNIQVJEU09O X0QAAAAAQAAHMOAqVDfGLL0BQAAIMAAfqtDFLL0BHgA9AAEAAAABAAAAAAAAAB4AHQ4BAAAAEQAA AEJMUyBEYWlseSBSZXBvcnQAAAAAHgA1EAEAAABAAAAAPEUxNkVFQTRDRTlDN0QwMTE5QUU0MDA2 MDk3MDVDRDg4MzM5NjU5QGRjcGNzbWFpbDEucHNiLmJscy5nb3Y+AAsAKQAAAAAACwAjAAAAAAAD AAYQghhhpAMABxAgCwAAAwAQEAAAAAADABEQBAAAAB4ACBABAAAAZQAAAEJMU0RBSUxZUkVQT1JU LFdFRE5FU0RBWSxKQU5VQVJZMjgsMTk5OFBSSVZBVEVJTkRVU1RSWVdBR0VTQUNDRUxFUkFURURJ TjE5OTcsRFJJVklOR1VQT1ZFUkFMTENPTVBFTlMAAAAAAgF/AAEAAABAAAAAPEUxNkVFQTRDRTlD N0QwMTE5QUU0MDA2MDk3MDVDRDg4MzM5NjU5QGRjcGNzbWFpbDEucHNiLmJscy5nb3Y+AATE ------ =_NextPart_000_01BD2C9B.E8483040--