[PEN-L:438] BLS Daily Report

[Richardson_D]

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BLS DAILY REPORT, WEDNESDAY, OCTOBER 7, 1998

RELEASED TODAY:  In April through June of 1998, there were 1,500 mass
layoff actions by employers, resulting in the separation of 337,855
workers from their jobs for more than 30 days.  Layoff activity was
slightly lower than in the same quarter a year ago, when employers
reported that they had laid off 340,371 workers in 1,574 extended layoff
events. ...

The number of planned job cuts by major U.S. businesses more than
tripled in September from a year earlier, a survey by Challenger, Gray,
and Christmas shows. Planned cuts rose last month to 73,062 from 20,698
during September 1997 (USA Today, page 1B).

Faced with crippling skill shortages, employers are spending
skyrocketing amounts of money training workers.  The problem? Many
programs just don't work, says USA Today (page 1B).  Billions of dollars
are spent on wasteful training courses, experts say.  But new studies
show most on-the-job learning happens outside a classroom. ... About
$5.6 billion to $16.8 billion is wasted annually on ineffective training
programs that focus on so-called soft skills, based on estimates from a
Rutgers University study.  That estimate, derived from a mathematical
formula, varied according to assumptions used by researchers. ...

Asia's financial turmoil has rolled across the USA, causing slumping
exports and qualms about job losses in virtually every state, a Treasury
Department report says. ... U.S. exports to Asia, which make up 30
percent of all exports, have dropped 11 percent in the past year.
Agriculture is especially at risk:  40 percent of U.S. agricultural
exports go to Asia, more than to any other region.  Exports to Asia
support millions of jobs. ... (USA Today, page 3B).

DUE OUT FRIDAY:  Consumer Expenditures in 1996


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