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_01BE01B4.A092FEA0 BLS DAILY REPORT, MONDAY, OCTOBER 26, 1998 BLS got all the fiscal 1999 funding the Clinton Administration requested to continue efforts to improve the CPI and other data series, according to the agency. ... BLS funding will allow the agency to continue its ongoing effort to improve the CPI and develop a new data series on labor market conditions, according to Kate Newman, head of BLS's financial planning and management division. ... BLS says the extra money will allow the agency to speed up the process of updating the market basket of goods and service sampled to determine price changes. The added funding should allow BLS to expand the amount of information collected on the prices and characteristics of certain goods and services. ... Current statistical series do not show directly labor market shortages and if labor market tightness is exerting upward pressure on wages. "We would be providing monthly data on separations, new hires and current job openings to assess the demand for labor or the existence of labor shortages," Newsman said. BLS will begin publishing the data in 2001. "Wage Inflation? Not to Worry" is the title of a Washington Post op-ed article by Robert I. Lerman, director of the Urban Institute's Human Resources Policy Center. ... In it, he says that, between 1992 and 1998, the unemployment rate for adult high school dropouts fell from 12 to 7 percent; for teenagers, unemployment plummeted from 20 percent to about 14 percent. Meanwhile, among never-married mothers, the proportion holding jobs jumped from 45 to 61 percent. During this same period, employment rates at the high-skill end of the labor market barely changed. Unemployment already was low for these workers and for college graduates it fell a bit more, but the proportion of college graduates holding jobs stayed the same -- 78 percent. Given these trends, theory would dictate wage growth, especially for the most skilled workers. But that didn't happen. Between 1995 and 1998, college graduates saw wage gains of about 2 to 3 percent above inflation, about average for all workers. Why? Many analysts point to corporate competition at home and abroad, weakened unions, and recent productivity increases. But also at work here is an abundance of well-educated workers. ... Of the net increase of nearly 12 million newly employed adults between 1992 and 1998, 90 percent had completed at least some college education and more than half obtained at least a bachelor's degree. ... The Wall Street Journal's "Tracking the Economy" feature (page A2) predicts that the employment cost index for the third quarter, to be released by BLS Thursday, will rise 0.8 percent in comparison to the previous quarterly change of 0.9 percent. Salaried employees can expect an average 4.1 percent merit-based salary increase in 1999, the same increase that salaried employees have seen for the last two years, according to a survey of 406 Fortune 1000 companies released by Buck Consultants. The annual survey also found that three out of four employers reported that they are using alternative reward strategies such as hiring and retention bonuses, stock options, and annual bonus programs to compensate talented employees. ... (Daily Labor Report, page A-9). The number of women in a state legislature appears to have a strong correlation with the wage gap between women and men in the state, a panel sponsored by the Institute for Women's Policy Research said in releasing a report. The economic status of women tends to be correlated with their political status, according to the president of Washington-based IWPR, an independent, nonprofit organization. ... 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[PEN-L:689] BLS Daily Report
Richardson_D Tue, 27 Oct 1998 09:15:21 -0500boundary="---- =_NextPart_000_01BE01B4.A092FEA0"
- Re: [PEN-L:689] BLS Daily Report Richardson_D
- Re: [PEN-L:689] BLS Daily Report Peter Dorman