[PEN-L:581] BLS Daily Report

[Richardson_D]

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BLS DAILY REPORT, WEDNESDAY, AUGUST 5, 1998

__The index of economic indicators declined 0.2 percent in June,
following a revised 0.1 percent drop in May, signaling a slowdown in
growth, the Conference Board says....  "The rise in unemployment claims
in June, largely due to a fallout of the since-settled General Motors
strike, drove most of the decline in the leading index," commented  the
director of business cycle research for the board....  (Daily Labor
Report, page D-1).
__The index of leading economic indicators fell in June for the second
month in a row, but the Conference Board said it is premature to say a
recession is looming....  The decline was in line with economists'
expectations (Washington Post, page D9).
__Typically, the rule of thumb is that three straight monthly declines
of the index -made up of 10 economic indicators - signal a recession.
But analysts say that even another decline in July wouldn't necessarily
signal real trouble. That is because the recent drops in the indicator
have been so small; the index would have to drop at least 0.4 percent
for several months in a row before economists would worry....  (Wall
Street Journal, page A2).

Nearing completion of a four-year review process, OMB releases final
recommendations for a major revision of the Federal standard
occupational classification system.  The system of classifying
occupations will be used for a variety of purposes, including the 2000
census, employment and wage surveys, and enforcement efforts.  While the
current SOC system is used by most agencies, its use has not been made
mandatory....  The new revisions mark the first such revision in the
standard occupational classifications since 1980, OMB said.  The next
major review of revision of the SOC is expected to begin in 2005, in
preparation for use in the 2010 census. Industries employing workers in
various high-tech occupations are among those that will see the most
changes in the classification system, said Laurie Salmon, a BLS
economist.  She is also the secretariat of the interagency group that
conducted the review and drafted recommended revisions.  Environmental
sciences and health care also have realized a number of changes in
occupations, she said.  The proposed revisions published by the OMB were
agreed to by the interagency group - called the Standard Occupational
Classification Revision Policy Committee - whose members represented the
major statistical and enforcement agencies.  Salmon said in a phone
interview that data users will benefit from the consistent use of the
revised SOC system, as well as from the updated method of clustering and
describing occupations.  Currently there is inconsistent use of the
system even within agencies such as BLS, Salmon said....  (Daily Labor
Report, page A-3.  Text on page E-1).

Surveys by the Employee Relocation Council (ERC) found  that 17 percent
of relocating employees last year in the USA were women, compared with
just 5 percent in 1980.  At Hyatt Hotels, for example, 48 percent of
managers relocated in the past 12 months have been women.  As the
numbers climb, more couples are trying to handle joint careers without
undermining relationships.  Roughly 75 percent of transferees are
married, according to the Washington, D.C.-based ERC....  (USA Today,
page 1A).


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