BLS DAILY REPORT, THURSDAY, SEPTEMBER 19, 1996 RELEASED TODAY: The number of employed youth increased by 2.6 million from April to July -- the traditional summertime peak. This seasonal expansion in employment of 16- to 24-year-olds was the same as that of a year earlier. The number of unemployed young people, which also grows at this time every year, rose by 603,000 .... The fact that central bankers currently are debating whether their goal should be low inflation or zero inflation is an indication that the economies of the industrialized countries are in much better shape than in the past, Fed vice chairman Alice Rivlin suggested at a luncheon of the Institute of International Bankers (Daily Labor Report, page A-13) ....Rivlin pointed to "the lag in wages at the low end of the income scale and the widening disparity between those who are doing well and those who are falling behind" as "the most serious problem in the American economy," one that does not show up in aggregate economic indicators .... The Washington Post (page D9) carries the highlights of the three-year UAW-Ford pact which includes $2,000 lump sum payment in first year and 3 percent increases in second and third years, in addition to a wage adjustment linked to inflation; maintenance of at least 95 percent of its current UAW positions; new workers hired for parts jobs will be paid less than current parts workers; $185-a-month increase for retirees with 30 years service; and $600 Christmas bonus with 48 paid holidays over the course of the contract ....General Motors is the only one of the Big Three automakers that is trimming jobs; in theory that could make the work force provisions of the contract hard for GM to swallow. But a look at the average age and years of service for UAW workers reveals an aging work force. UAW workers are eligible for retirement at age 60, with 30 years of service .... U.S. trade deficit surges 42.6 percent to $11.7 billion in July as exports drop ....(Daily Labor Report, page D-1)_____Monthly deficit was highest in eight years ....(Washington Post, page D9)_____Sharp rise in U.S. trade gap surprises economists. The drop in exports suggested that the economy had begun to slow ....(New York Times, page D1)_____A surge in crude oil imports added to the gap ....(Wall Street Journal, page A2) Newsweek's "How to Get Into College", 1997 Edition (pages 34-35), gives some tips on fields that may be booming in the future, quoting liberally from BLS ....BLS predicts that the number of computer engineers and systems analysts will nearly double by 2005 ....The number of physical therapists is expected to rise by 80 percent between now and 2005, and occupational therapists by 72 percent, according to BLS ....The future looks good for civilian engineering specialties. Engineers will be needed to improve deteriorating roads and bridges, pollution control, and water systems, according to BLS ....There's opportunity in accounting, even though only average growth is expected, says BLS ....
