[PEN-L:68] BLS Daily Report

[Richardson_D]

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BLS DAILY REPORT, THURSDAY, JUNE 25, 1998:

                RELEASED TODAY: Veterans of the Vietnam era who actually
served in Southeast Asia had higher unemployment rates than veterans of
that era who served outside the Vietnam war theater or their nonveteran
peers, according to the results of a September 1991 survey.  About 12
percent of the Vietnam-era veterans had a service-connected disability
and about half had participated in special education and training
programs=85.

                The average worker holds nearly nine different jobs
between the ages of 18 and 32, but most have settled into a career by
the age of 27, BLS reports (Daily Labor Report, page D-3)

                Last week, 30 years to the day after he went to work for
BLS, Deputy Commissioner William G. Barron Jr. told his boss he is
quitting - not to make more money elsewhere or to retire, but to move =
to
another government job where he thinks "I can make a difference."  He
has agreed to become deputy undersecretary of commerce for economic
affairs.  His major new task:  budget and management oversight of the
politically charged year 2000 census.  "Bill Barron is one of a very
small, select handful of experienced managers of statistical
agencies=85..He is a man above politics and above reproach," says his
soon-to-be boss Undersecretary Rob Shapiro.  Last month Barron received
the prestigious National Public Service Award.  (The Washington Post,
page A21)

                The Department of Commerce released a comprehensive
summary of statistics on social, political, and economic organizations
of the US state and metropolitan areas for the year ending in the fall
of 1997.  The statistical abstract "State and Metropolitan Area Data
Book 1997-98" contains a selection of data from many statistical
publications (Daily Labor Report, page A17).

                New durable goods orders plunged 2.6 percent or $4.9
billion to $184.3 billion in May, the first decrease since February, =
the
Census Bureau reports.  Analysts say slackened demand from economically
troubled  Asian countries contributed strongly to the decline.  The
falloff in new orders in May followed a revised 1.6 percent April
increase.(Daily Labor Report, page D-1).
                __The durable goods orders report surprised economists
and offered fresh evidence of Asia's impact on the U.S. economy.  The
drop was much steeper than the 0.7 percent fall forecast by private
economists (The Washington Post, page C5).
                __Orders to United States factories for big ticket
durable goods fell sharply in May, as Asia's economic crisis helped to
depress orders for transportation and electronics related goods (The =
New
York Times, page D8; The Wall Street Journal, page A2).

                The Economic Advisory Committee of the American Bankers
Association predicted that U.S. economic growth will slow to an annual
rate of about 2.5 percent because of the Asian economic crisis. As a
result, the Federal Reserve will keep interest rates steady and perhaps
even reduce them late next year.  The group expressed "great" concern
about Japan's "unprecedented" problems.  It said the Fed has rightly
been concerned about potential wage and price pressures stemming from
the tight labor market (The Washington Post, page C5).



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