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_01BE38C2.7734C760 BLS DAILY REPORT, MONDAY, JANUARY 4, 1999 Consumers' quick draw with credit cards and checkbooks will slow in 1999, constrained by tepid job growth, rising debt, insecurity about the future, and a stock market that no longer seems able to guarantee spectacular returns, economists predict. All but one of the 25 economists surveyed by the Bureau of National Affairs in mid-to-late December predict U.S. growth will become lackluster in 1999, restrained by a drop off in consumer spending. ... Because consumer spending has driven the spectacular U.S. expansion in the last few years, most analysts participating in BNA's annual survey say an economic slowdown is inevitable. Although economists have expected the economy to cool for some time, growth continued robust and unabated. But, they say, 1999 will be different. Forces have aligned to almost surely brake expansion to a level of 1.4 percent to 2.8 percent, all but one survey participant predicts. ... Job market growth will cool its heels this year, in response to thriftier consumers, corporate profit squeezes, and increasing layoffs. Nonetheless, most economists surveyed predict that the unemployment rate, while creeping higher, will stay below 5 percent. ... Looking to defend and sustain domestic growth, the Fed will stay on an easing track in 1999, with one eye focused on real economic events at home and the other on developments abroad. ... Most economists expect only a modest uptick in inflation this year, as consumer prices are kept at bay by low oil prices, rising unemployment, excess industrial capacity, and global competition. ... At the start of 1999, indications are that the global economy is headed for another year of slow growth, but the world's financial crisis should not result in a recession, analysts say. ... (Daily Labor Report, 1999 Economic Outlook section). The U.S. economy is expected to grow at a slower pace in 1999 than last year, according to most economists participating in a semiannual survey. Global uncertainties are making forecasting trickier, economists say. ... (Wall Street Journal, page A2). New claims filed with state agencies for unemployment insurance benefits rose dramatically, up 79,000 to a seasonally adjusted 368,000 in the week ended Dec. 26, the Employment and Training Administration announces. Winter storms in several areas of the country have been cited as reasons for the increase. ... (Daily Labor Report, page D-1; Wall Street Journal, page A4)_____New claims soared at the fastest pace in more than 6 years, but the figure may have been skewed by bad weather and the Christmas holiday. ... Economists in the private sector had expected new claims to rise to only 312,000. ... (Washington Post, Jan. 1, page D1)_____The increase in claims could be a sign that hard times abroad are hitting American companies harder. ... (New York Times, Jan. 1, page C2). The Conference Board's help-wanted index jumped 4 percentage points in November, signaling continued job growth, the board announces. The index increased to 91 percent of its 1987 base, still below the 93 percent recorded one year ago. "The great American job machine is not broken," one economist with the Conference Board says. "It isn't even slowing." ... (Daily Labor Report, page A-8). Manufacturing in the Midwest picked up unexpectedly in December, helped by rising production and an increase in inventories, according to the National Association of Purchasing Management-Chicago. ... (New York Times, Jan. 1, page C4). The Wall Street Journal's consensus forecast is that, in December, nonfarm payrolls rose 193,000, and the unemployment rate rose by 0.1 percentage point to 4.5 percent. One of the enduring goals of the labor movement is to achieve uniform contract terms throughout each industry. Unions typically were able to meet this objective when the workforce was highly unionized. But as organized labor's strength declined in recent decades, so too has its ability to reach pattern agreements, according to labor officials and labor-management specialists interviewed by BNA. ... Pattern bargaining is still widely used in some industries, including steel and petroleum, according to the research director for the Midwest Center for Labor Research. However, "pattern bargaining, as defined in the 1950s and 1960s, is different and we're not going back to that." ... (Daily Labor Report, page C-1). ------_=_NextPart_000_01BE38C2.7734C760 b3NvZnQgTWFpbC5Ob3RlADEIAQWAAwAOAAAAzwcBAAUACgAtADYAAgBLAQEggAMADgAAAM8HAQAF gAEAEQAAAEJMUyBEYWlseSBSZXBvcnQAkAUBDYAEAAIAAAACAAIAAQOQBgCcDQAAHAAAAEAAOQDA W1l6wji+AR4AcAABAAAAEQAAAEJMUyBEYWlseSBSZXBvcnQAAAAAAgFxAAEAAAAWAAAAAb44wnjH G4t3cKSLEdKIjgDAT4x4MQAAHgAxQAEAAAANAAAAUklDSEFSRFNPTl9EAAAAAAMAGkAAAAAAHgAw 2+PMw/8ACgEPAhUCpAPkBesCgwBQEwNUAgBjaArAc2V0bjIGAAbDAoMyA8UCAHDccnESIAcTAoB9 CoAIzx8J2QKACoENsQtgbmcxODAzMwr7EvIB0CBCgkwF8ERBSUxZB/BARVBPUlQsBdBPCk4YwFkZ gEpBTlWUQVIZADQZgDE5GuBvCoUKhQhQAIB1B4AR4CcAIHF1aWNrIGSMcmEH4APwdGggBQC/CYAd YB2QCxEEIABwZB2QymgFkGsG4G9rBCAD8PpsAyBzFMAH4AuAGsMZgDsFoACAdB0QC4AJgCBiQHkg dGVwaR6QavhvYiAJwB/QHXAZgAUQxwCQFuAc8GVidBmAC4D1EfBjCHF0IWABoAhgBUCxHXBlIGYk UAhwZRmAZR5yYR+gdG8c0QDAchZrEgAkcWEFQG5vIN8UwBbgBJAfoAngbR5RAmD3JKAlsCIQdQrA AHAhgCSg/HNwBZABkCOwC2AFwBUwXyThAIAZgAWRJsBtBAB0zwQgE5AdwSkQLiAT0B+BTmIkUQIg JKBvZiRzMoY1KiocIHJ2ZXkhJaUkkUIk8WF1LDJOJpD+aQIgB0AT0A3QC3AR4B/y6SqAZC0lsC0L YCGAGLAbBZAngGInMSrlIFUu/lMrUCIkH1QxgAWgB4Am4P0A0GsKQCDAJzEgBxUwIMrzJYAdAG9w LDEsUCABIJLfHDIo0h6AItErUC438Ctg/kIFkC7QEfA2vyLwEcAEIH0dAGktwAOgJIIo6jJDZf54 CrAAgQIgH/IkggtgIMD/JLAH0S3gEdEZgARgPREAcN0HQHkqowrAL1BjBSAvQUMi4SABQk5BJx5S bu8oUB+RLaMfoGEkAQOgKjU6Yx+jZB/QPGEwImV23x1gJ8IrUx1wCGBnHYAqOf8RwC3AO9IpASEh JIIqNCFh3ybQBaAG8CSwBbFzM4IvUP8HgBmAMpUgkT9hClAekANgVyvAPhMekHUvgGIw8WT/OBIk UBmAJIFBAxq0MvYc8N8GkD1AFTACMCtRRgWwMVDzRNUHQGlnIRIoEQdAPfP9LZFlPnAhQB0QJjA7 2U4yjybgQwBPACwyMS40KtCPBJAxUAIwKAIyLjhRVr8lISuZQLU+11GxKuVzN9X+SiHxJgUymkbD HWBE0QngfmwEIB1wQrE9giNSNPJw/xwBJ/MdcAaBL1AnMTjGKgF/BaFZMB0QMQETkCxAHeFz+xyg CeB6B5AlJAuAHaE58Psi0gtgeTZRVUEHsCwBJIH/J+AEED3VLO8hITHGJnMkgvdJwCeAC1BvBsBR oltiGYD+d1gwJ+EdoSGRObJN0B7A/1ihH2QBkE8hTwAf0SzAUWX9N9VMHxEi0igRDbE3cR5j/xwg ZLEgAUJgB4E/ASIXJIL+RiEhZGg8UUFiXVQg0RzR/yAHHVMsAi3RRwEjsBHwHpD/PFEusQMgQZdQ oQIwHlEFQO9D4DORHnIkgm8kgQXAPFG/DbBQsTYgYkInogNgYUox/TfzTV89RUQr8U8RJYAEYv09 EXUFMBzCIAELgBaxL1L/WBo58TjHE5AcwAeRCsAkoH8mMAUxJpFJ8E8hIWAfwm/fAxF3NCKHYcoq EXhNITAi/mQ0EQciHgEKsD8gI/AlJP5nFMBJ8FcSYfASAB1gL2H9N9VBJGRksQAgUOMgQ3uR/xzA L0N3hGE3fSVGFkKxHsD/caAhIUcSAHBwBD2CLDIfs5ciJivCJIJ3BbBsZEAR/1vgL4BdEHwDIqIt cUPhhfD/JrFicQeQKVAFQCABJYAVMD97Qi9hJSI+ZUEhN9UoRNsLcE8RTCQhBcBSIZAU0fVLRUVB pk8kUBTAHyAnUdMpEC9hKS4bHFQkkTuU/4IoRUgoISIxbvIlgR/BMZJ/ANAkoCAFJmIDoDzzdhVj /wWhOZMoEV8uPt8lgSeABzD7QForUUd9NEnAMVAAIAtx/1oRd4QAwGaTRxE4UWiBaxOvHMEIkSob iglXUuJTIND/CeAFQFXAKdEHQBmACrAnIO0T0DKNzgfCYwthJ5Fb4P8n4GmyHXFksTEBngGGgQeR /0cSYcsjcQhwhnEkoDGAIRD/W+EEIANgOJEdAQDAPwFS4dNLMXSAIDcgYDClgFA0zxHwOfAvcnPC ZGo0Eh6QuDM2OKVzPIWRkGUc4E83cSEhMTErUDI2aTRFm2H4HnJUIOIi0kFkKoB/AwAgwnVzQEEI YJhhXhJX95jBJzIlsHInkSABEfAtwP8dEAMgd6E58SxFBaBJwCDQ/yFgRPMxgDphfIEhITnxXTL/ gJJHEiSCXQVDcYpfi2ed83BELTE7rOCcv53HNPwpX7ayn2lHUHehJWEkZb89AXRCkdYEYIDkA6A2 PXbfhUZb4ChAmUOvunMmMJGQvyEzSfBpsS7AcBNvhkNZ0f8gwADARNEG8CGwiheMRSqi+zyFdzF2 MPKNUgWxEcAekH9FRyEQn4coESKhJ/NzozP8MTKlcpwoh1Ai0SWwA6BeUD4BGgEAcCtQMbQmMf+2 pI7CsgY2g5+0r1GHkUwB/yWBTdEmZBHBRbEHc3Fkd5P/WDACQKsDHEGAQTaiYfAAcN+Y8sqSBJCy hgfCWQWwHOD7B2PGbUOeX47CG/FMY5HxjkK3wYYCXqFwLXcogvtc4g2weCHQHDAo8B6QUUf/ngJZ MJjBMCNeUC3AMXIZgP/J8k2xIuFIeCHqJIIG4Mqin6w6x9TTwrIGThM5MVFX5yxBV4Ia0Dg3eFER 8NZhzy9QMyMfwiSCOTNRV4jBX5PRbVMkoIPzngBvK1Ei/47CCcEmkcx3IeIAwcWhkgHfBCCHwnFx JjCJQCJsdCpGnx1EvjPRzUESXhIiSYhR+HNuJ19ROlIfsjei4zCjsq+zvEEtONB+TQBwvnUv4CkQ CHE/hCSCTSGw/5GQuOIcwSEhpSFhwUVVTxH/IAExNhmA0uIhJCKlW7F7sP+NcyU0PGLIOAuAbqIF sJjx/5ONJIIvOAQQJcAHMHVzLEF+UAhwEbEiw+rxngFiQi3/vnCAQeACzi/PPxvgtpDQj/8koLTv B0BAESCSCfBnwZnXf0KiJnJYs+5oJsB1MArAbb2VYXkDYB+Ao9Ua0DOlcv8lJGGPW2Oj8yFRxODb Z9UH2SgCNC5laRscTywYN3H/63TgAE2wrscLYIsydBDWAf+ig8Nj4eJQoUmxTECtgUhj/2tRJGEc UMNSWdBD8iRCLsD3EbB7hpeiVarwgJIj8OzB/6ZzkZFNkSfVb1AmQ0KxIfC+ao1iRRFi8DplhcFr gzF/kfHTMETRY/FPEQnhHABp71xwSjV2YotAZ81BEmEIBP9AESDBFbDF0B2AFpCfoCED/1jTUZMU 4YLhKgFHUCgBJtD/OeJXgkngeSAj4sOCDAM/Qf80MYiB4KH2U/KeCBQ2UT8R9wdiHnIIEy3h0PYm KNN8Ab/AVTQxQxC8tj/hN9VQGLX/vTATQarkhyLdM2wwzdAR0v9tQq3Sb0J7llyCXQE0ADmT3zQh UMF84n3B/3FlWqDyr/8CMcsQPZEMISsQiMHBwrGG/exGQ0yROSGDMosWJjQrUe5IkYGuIZOAIhim H9h2U89nERUmgWKL8DUwG5SL8H42LSBYsToBTEZ805GQJ/8OMYfC4ACZor0wa3FZk7ggu+ev6L9D ADYAAAAAAAIBRwABAAAALwAAAGM9VVM7YT0gO3A9QkxTO2w9RENQQ1NNQUlMMS05OTAxMDUxNTQ1 NTRaLTEzNDcAAB4AOEABAAAADQAAAFJJQ0hBUkRTT05fRAAAAAAeADlAAQAAAA0AAABSSUNIQVJE U09OX0QAAAAAQAAHMFBpWXrCOL4BQAAIMGDHNHfCOL4BHgA9AAEAAAABAAAAAAAAAB4AHQ4BAAAA EQAAAEJMUyBEYWlseSBSZXBvcnQAAAAAHgA1EAEAAABAAAAAPEUxNkVFQTRDRTlDN0QwMTE5QUU0 MDA2MDk3MDVDRDg4QUNGODk2QGRjcGNzbWFpbDEuUFNCLkJMUy5HT1Y+AAsAKQAAAAAACwAjAAAA AAADAAYQSRzk5gMABxAMDgAAAwAQEAAAAAADABEQAQAAAB4ACBABAAAAZQAAAEJMU0RBSUxZUkVQ T1JULE1PTkRBWSxKQU5VQVJZNCwxOTk5Q09OU1VNRVJTUVVJQ0tEUkFXV0lUSENSRURJVENBUkRT QU5EQ0hFQ0tCT09LU1dJTExTTE9XSU4xOTk5LENPTlMAAAAAAgF/AAEAAABAAAAAPEUxNkVFQTRD RTlDN0QwMTE5QUU0MDA2MDk3MDVDRDg4QUNGODk2QGRjcGNzbWFpbDEuUFNCLkJMUy5HT1Y+AKG1 ------_=_NextPart_000_01BE38C2.7734C760--
[PEN-L:1973] BLS Daily Report
Richardson_D Tue, 5 Jan 1999 10:45:54 -0500boundary="----_=_NextPart_000_01BE38C2.7734C760"