BLS DAILY REPORT, TUESDAY, DECEMBER 9, 1997
Labor relations officials participating in the Bureau of National
Affairs' annual survey of employer bargaining objectives express
confidence that they will achieve their goals in contract talks with
union representative in 1998. The survey's findings are described in a
special report accompanying the Daily Labor Report. Almost half of the
firms that bargain next year say they will propose annual wage increases
of 2 to 2.9 percent, while most others say they expect wage settlements
of 3 to 3.9 percent per year. Twenty-six percent of responding
employers say they intend to seek further health-care cost savings by
raising employees' premiums, deductions, or copayments ....
The financial turmoil in Asia weighed on some U.S. companies. Among
those most affected: Software maker Oracle announced disappointing
second quarter earnings, due partly to slowing sales in Asia. Aircraft
maker Boeing said the crisis may delay the delivery of as many as 60 of
its jetliners over the next three years, due to slower growth in airline
traffic. Mirage Resorts said its revenue could dip this year as fewer
high rolling Asia gamblers sit at its baccarat tables. Coca-Cola, which
derives 70 percent of revenue from international operations, had its
earnings estimates pared by several analysts who say the strengthening
dollar in Asia - which makes American exports more expensive - will drag
down earnings (New York Times, page D2).
USA Today's "Economic Indicators" feature (page 7B) predicts that the
producer price index for November, due out Dec. 12, will be up 0.1
percent, the same as the previous month.. The consumer price index for
November, due out Dec. 16, is also predicted to go up the same percent
as during the previous month, 0.2 percent.
An article in Barrons (Dec. 8) discussed the effect of the number of
weekdays in a given month on average hourly earnings from the payroll
series. Patricia Getz of BLS is quoted.
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