[PEN-L:666] BLS Daily Report

[Richardson_D]

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_01BE00EB.55485D90
        charset="iso-8859-1"

BLS DAILY REPORT, THURSDAY, OCTOBER 23, 1998

RELEASED TODAY:  In July 1998, there were 1,862 mass layoff actions by
employers as measured by new filings for unemployment insurance benefits
during the month.  Each action involved at least 50 persons from a
single establishment, and the number of workers involved totaled
235,996.  Both the number of layoff events and initial claimants for
unemployment insurance were somewhat lower than in July 1997. ... 

After adjustment for inflation, the median weekly earnings of the
nation's full-time wage and salary workers were 2.6 percent higher in
the third quarter of 1998 then  they were a year earlier, according to
data released by BLS. ... (Daily Labor Report, page D-5).

Manufacturers increasingly are considering laying off workers to cut
costs as the economy slows and firms are unable to raise prices,
National Association of Manufacturers President Jasinowski says at a
briefing held to announce NAM's economic survey.  "They are also talking
about holding down merit wage increases."  As recently as early this
year when the economy was booming, manufacturers were able to make up in
volume what they lost by an inability to pass on prices increases,
Jasinowski says.  But now that demand has slowed, pressure is mounting
on manufacturers to cut costs, he says. ... (Daily Labor Report, page
A-2).

Data compiled by BNA in the first 42 weeks of 1998 showed that the
median first-year wage increase in newly negotiated labor contracts
equals 3 percent, the same increase as that reported for the comparable
period in 1997.  The weighted average increase for settlements reported
to date in 1998 was 3 percent, compared with 2.8 percent in 1997. ...
(Daily Labor Report, page D-10).

Construction of new homes and apartments dropped 2.5 percent in
September, the second straight monthly decline, but analysts say the
housing market remains healthy. ... (Daily Labor Report, page D-1; New
York Times, page C20: Wall Street Journal, page A2).  

The United States is splurging on energy, says The New York Times (page
A1).  Twenty-five years after an oil embargo proved that fuel supplies
were neither reliable nor endlessly cheap, the United States has given
up almost all the gains it made in conserving energy.  On average,
Americans have returned to consuming nearly as much energy as ever
before. ... Declining energy prices - now lower in real terms than
before the first oil embargo - have made the difference, the article
contends.  In the dollar-a-gallon era, why spend much time or money
saving a gallon or a watt?  Evidence of the more energy intensive life
style is everywhere.  Since the early 1970s, as the average household
has shrunk by a sixth, the average new home has grown by a third.  Even
moderately priced homes are now stuffed with energy-hungry features,
from central air-conditioning to Jacuzzis and security systems. ...
Energy use is rising even faster on the roads. ... 


------ =_NextPart_000_01BE00EB.55485D90
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------ =_NextPart_000_01BE00EB.55485D90--