[PEN-L:730] BLS Daily Report

[Richardson_D]

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BLS DAILY REPORT, WEDNESDAY, OCTOBER 28, 1998

RELEASED TODAY:  In September, 219 metropolitan areas recorded
unemployment rates below the U.S. average (4.4 percent, not seasonally
adjusted), while 101 areas had higher rates.  Of the 18 metropolitan
areas with rates below 2.0 percent, 12 were located in the Midwest, 4
were in the South, and 2 were in the Northeast.  Eleven of the 12 areas
with jobless rates above 9.0 percent were in California or along the
Mexican border in other states. ...  

In the second quarter of 1998, personal income in all 50 states and the
District of Columbia grew faster than the increase in prices paid by
consumers, according to estimates by the Bureau of Economic Analysis.
Across the nation, personal incomes grew 1.1 percent in the second
quarter, after growing 1.4 percent in the first quarter of the year. ...
(Daily Labor Report, page D-1).

A total of 5,150 workers were killed on the job in 1997, and another
1,068 died as a result of work-related suicide or homicide, the National
Safety Council's annual report says.  The total number of work-related
fatalities increased some 2 percent over 1996, when 5,001 workers were
killed, the council says.  But the overall fatality rate - 3.9 workers
per 100,000 employees - remained unchanged and represents the lowest
rate since 1933, the earliest date for which national data is available,
according to the report released at the council's annual conference in
Los Angeles. ...  (Daily Labor Report, page A-5).

Consumer confidence declined for the fourth month in a row in October as
American households were less optimistic both about the current state of
the economy and their expectations half a year from now, the Conference
Board says. ...  (Daily Labor Report, page A-12)_____The monthly index
of consumer attitudes fell 9.1 points to 117.3 in October, the lowest
reading since December 1996.  The decline was greater than economists
had expected.  Though still high by historical levels, the trend is
unmistakably down.  After reaching a 30-year high in June, the index of
consumer confidence has retreated in the wake of concerns about the
stock market, the global economic crisis, and increasing layoffs. ...
("Trendlines" by Tim Smart, Washington Post, page C10)_____Consumer
confidence tumbled to its lowest level in nearly two years earlier this
month, amid increasing concerns about global economic and political
troubles. ...  (New York Times, page C9)_____Battered by global economic
crisis, stock market gyrations, and signs that the U.S. economy is
gearing down, American consumers are losing their financial self-esteem.
....  (Wall Street Journal, page A2)

Layoff fears aren't unfounded.  According to a Challenger, Gray &
Christmas Inc. study, there were announcements of more than 100,000 job
cuts in September and early October, and, according to the Conference
Board, the portion of consumers who believe jobs are plentiful fell to
41.3 percent in October, from 45.2 percent in September.  Those who
perceive jobs as being "hard to get" rose to 16 percent from 14.3
percent. ...  (Wall Street Journal, page A2).  

Opportunity abounds in the restaurant industry.  With the strong economy
and steady increase in two-worker households, more people are eating
out. ...  According to projections by the Bureau of Labor Statistics,
food preparation and service will be the fastest growing occupations
through 2006.  Among chefs and kitchen workers alone, the government
expects an average of 1.27 million jobs to be created each year, says
The New York Times (Oct. 25, business section, page 1). ...  Despite the
growing demand, chefs' pay has increased slowly and remains moderate.
....  The Times gives the average salary for graduates of three different
cooking schools after various years of experience, as well as annual
average job growth, 1996-2006, for various occupations and attributes
the data to BLS.

DUE OUT TOMORROW:  Employment Cost Index -- September 1998


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