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_01BDBB00.7D9FAAF0 charset="iso-8859-1" BLS DAILY REPORT, TUESDAY, JULY 28, 1998 Economic demand continued to advance in the second quarter, but profit margins narrowed appreciably and employment growth slowed, the National Association for Business Economics says in a newly released survey.... Details of the report showed that the upswing in second-quarter demand came despite a significant, Asia-related, weakening in the good-producing sector of the economy.... The Washington, D.C.-based trade group said that its employment index slumped "decisively" and that materials and labor costs held steady at more than 50 percent of the firms surveyed. However, 45 percent of respondents reported higher wage and salary costs.... (Daily Labor Report, page A-1). Job-sharing, flextime, working from home, and financial assistance benefit programs could find their way into more companies within the next few years, according to a Buck Consultants Inc. survey. For its survey of 1,058 employers, Buck examined the prevalence and design features of various types of welfare benefit programs offered by employers including sick time, vacation time, life insurance, short and long-term disability, and business travel insurance. The national survey found that, of employers considering programs to be offered in the future, 41 percent were considering work-at-home policies, 38 percent are considering telecommuting arrangements, and 29 percent are considering job sharing. About 2 out of every 10 employers said they already were using some kind of a non-traditional working arrangement, with flextime the most common, offered by 52 percent of those reporting programs, the survey said.... In addition, the survey found that many employers offer various financial benefits. Some 87 percent of the surveyed employers said they provide tuition reimbursement for work-related education expenses, and 66 percent offer employee assistance programs. Other financial assistance programs respondents reported using include: credit unions (65 percent); employee discounts (54 percent); dependent care spending accounts (59 percent), and subsidized on-site cafeterias (31 percent).... (Daily Labor Report, page A-2). Three workers are killed each day from work-related motor vehicle accidents, according to the National Institute for Occupational Safety and Health, which noted that motor vehicle crashes were the leading cause of work-related deaths of U.S. workers from 1980 to 1992, accounting for 20 percent of all fatal workplace injuries. Not included were fatalities while traveling to and from work.... NIOSH said the actual number of traffic-related deaths is higher than the number reported because only a portion of work-related fatalities associated with traffic crashes are captured by death certificates.... Data for the report were taken from the National Traumatic Occupational Fatalities Surveillance System, based on information culled from death certificates of workers 16 and older. The NTOF data were supplemented by data from the National Highway Traffic Safety Administration's Fatality Analysis Reporting System, a census of fatal traffic crashes that contains information drawn from a number of sources, including reports from police, coroners, and medical examiners... (Daily Report, page A-9)_____NIOSH calls for action to reduce on-the-job traffic deaths.... (Washington Post, page E4). Sales of existing single-family homes slipped in June from May's high level, but remained robust. The decrease was 2.3 percent, the National Association of Realtors says.... (New York Times, page C2)_____Sales of existing homes slipped a bit in June from a furious pace in May, while a jump in prices and slimmer inventory suggest the nation's housing market may be tightening.... (Wall Street Journal, page A2)_____Sales of existing homes dipped in June, but remain on track to set a record in 1998.... (Washington Post, page E2). Tight labor market or not, employers won't let white-collar salary raises get out of hand in 1999, a poll of 1,561 employers by consultant William M. Mercer Inc., N.Y., shows. Salary increases averaging between 4 and 4.2 percent are foreseen, about the same as this year (Wall Street Journal, "Work Week" column, page A1). As the economy booms, wages rise for child-care workers, says The New York Times (July 26, page 27). The winners in the escalating nanny war appear to be millionaires - who can afford to pay a nanny up to $1,000 a week after taxes. The deal often includes health insurance, a retirement plan, use of a BMW, and perhaps a guest cottage behind the main mansion. The losers are the merely prosperous, particularly single-parent and two-income families who consider a nanny a necessity..... In fact, most American parents cannot afford at-home child care, much less the expensive nannies who are hired through agencies and get paid on the books. But the majority of women who work in at-home child care get paid under the table and are likely to earn less money than career nannies; some are illegal immigrants and others do not speak fluent English.... Demand for all household help is increasing, said the president of a national employment agency.... In New York, New Jersey, and Connecticut, the number of people working in homes as nannies, cooks, cleaners, and drivers grew by about 7,000 between 1992, when the regional economy began to recover, and 1996, the most recent data for which figures are available, according to BLS. That works out to an increase of 23 percent - five times faster than private employment growth in the region, said John L. Wieting, regional commissioner of the bureau. "This certainly is a very rapid growth industry," he said, "and there is no reason to expect that this kind of growth has not continued." Though many people do not show up in the data, which are based on records for workers eligible for state unemployment insurance, Wieting said he thought the overall trend was similar.... 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[PEN-L:342] BLS Daily Report
Richardson_D Wed, 29 Jul 1998 10:53:19 -0400boundary="---- =_NextPart_000_01BDBB00.7D9FAAF0"