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_01BDC78C.38CBD070 charset="iso-8859-1" BLS DAILY REPORT, THURSDAY, AUGUST 13, 1998 RELEASED TODAY: The U.S. Import Price Index declined 0.9 percent in July. The decrease, the ninth in a row, was attributable to declines for both petroleum and nonpetroleum import prices. The U.S. Export Price Index dipped 0.1 percent in July, after falling 0.6 percent in June.... The total number of on-the-job fatalities remained essentially stable in 1997, with steep declines in homicides and air crashes offsetting increases in highway deaths, fatal falls, and other incidents, BLS said.... (Daily Labor Report, page D-11). Labor Secretary Herman unveils a new national campaign aimed at informing farm workers of their workplace rights and helping them teach their children to be safe around farm work, which last year was the second most dangerous occupation in the country.... (Daily Labor Report, page A-2). Despite the current tight labor market, there will be little upward pressure on wages during 1999, and competition will continue to govern employers' compensation planning, a human resources consulting firm says. Salary increases will be "moderate" - between 4 and 4.2 percent - and largely unchanged from 1998 levels, according to a survey of employers made by William M. Mercer Inc. The survey collected data from mid- to large-size employers on their pay increase budgets for 1999. The survey represents the projections of 1,561 companies employing 10.9 million workers.... (Daily Labor Report, page A-6). The U.S. Department of Agriculture, in reports casting more gloom over the stumbling farm economy, slashed its forecasts for wheat, cattle, and hog prices and predicted that the drought in the South will shrink the U.S. cotton crop by 24 percent from last year.... The problem for U.S. farmers is that the Asian currency crisis is killing the appetites of farmers' biggest foreign customers at a time when many of the globe's farm powers are preparing to reap bumper crops. The prices of many U.S. farm commodities are falling back to the levels of the early 1990s.... (Wall Street Journal, page A2). America's economic system does work better than the obvious alternatives, says Peter Passell in "Economic Scene" (New York Times, page D2).... Europe's mixed economies perch on a powder keg of 20 percent youth unemployment - and can't think of any way out, save for the risky strategy of following the advice of Alexander Hamilton and adopting a common currency. But the celebration may be getting out of hand. For while the American system is doing many things right, most economists would agree that it is doing one big thing wrong: For the last quarter century, virtually all the bounty of growth has gone to the educated, enterprising, and already affluent.... While labor still captures about two-thirds of national income, only skilled workers have benefited. And even within this elite, the phenomenon of "winner take all" has increased the gaps between the successful and the also-rans in occupations as diverse as law, plumbing, and basketball.... 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[PEN-L:868] BLS Daily Report
Richardson_D Fri, 14 Aug 1998 10:06:12 -0400boundary="---- =_NextPart_000_01BDC78C.38CBD070"