> BLS DAILY REPORT, FRIDAY, MARCH 21, 1997 > > RELEASED TODAY: The U.S. Import Price Index decreased 0.7 percent in > February. The decline followed a 0.2 percent decrease in January and > was attributable to a sharp drop in petroleum prices. The U.S. Export > Price Index edged up 0.1 percent in February, after advancing 0.2 > percent in the previous month .... > > BLS reports the number of mass layoff events was estimated at 1,801 in > December 1996, marking a decline of 10.4 percent from the year-earlier > total ....With the release of December layoff data, BLS is moving > toward a more timely schedule of releasing the monthly mass layoff > data, which was developed in fits and starts due to funding changes > over the last few years ....(Daily Labor Report, page D-3). > > Federal Reserve Chairman Alan Greenspan signaled yesterday that the > central bank is likely to raise short-term interest rates when Fed > policymakers meet on Tuesday. Fed officials said any increase would > be no more than a quarter of a percentage point. Greenspan told the > Joint Economic Committee that he was concerned that unexpectedly > strong economic growth could, if it continues, drive the nation's 5.3 > percent unemployment rate even lower and cause inflation to rise later > this year or in 1998 ....He agreed that there is no indication in > recent reports on consumer or producer prices that inflation is > actually rising. Wages have gradually increased over the course of > last year, but that hasn't caused any inflation problem because the > higher wages have been matched by improved productivity > ....(Washington Post, page G1; New York Times, page C1; Wall Street > Journal, page A2) > > New claims for unemployment benefits rose by 3,000 to 312,000 in the > week ended March 15. The slight increase still left claims near their > lowest level in almost nine years ....(Daily Labor Report, page D-1; > Wall Street Journal, page A2). > > The trade deficit in goods and services widened significantly in > January, by 21.1 percent, Commerce Department data show. Analysts > were taken off guard by the extent of the widening of the trade gap, > although many predicted a surge in early 1997 after a narrowing of the > deficit in the fourth quarter of 1996. Economists say the surge in > January can be attributed to a few special factors. These include a > huge drop off in aircraft exports after a surge in the fourth quarter, > which drove down exports. Also, higher oil prices raised the cost of > imports, and the United States saw a surge of auto imports from Canada > ....(Daily Labor Report, page D-7) _____In January, a strong U.S. > economy drew in imports to meet vibrant consumer demand while > struggling Europe and Japan offered a less buoyant market for > American-made goods. Costly imported oil and an appreciating dollar > that priced up U.S. goods for foreigners also helped tip the balance > ....(Washington Post, page C2)_____The figures include a 36 percent > increase in the deficit with China that will further complicate the > politics of Vice President Al Gore's trip to Beijing next week > ....(New York Times, page A1; Wall Street Journal, page A2). > > With Census 2000 just three years away, the U.S. Census Bureau plans > to present Congress next month with a tighter version of its most > comprehensive data-gathering questionnaire. The so-called long form, > which collects information on such things as income, housing, > transportation choices, and jobs, and provides information on which > businesses base countless decisions is under fire for being too > expensive and too cumbersome ....Commerce Department Undersecretary > Everett Ehrlich says Census will testify April 10 before the > subcommittee with control over the Census budget and present a form > that has fewer questions than the 1990 version, which had 20 pages and > about 60 questions ....The only questions set to be included in the > 2000 version will be questions either "directed by law or required by > law," Ehrlich said. Supporters of the long form are afraid that what > they consider to be the most comprehensive form of national > data-gathering will become obsolete ....(Wall Street Journal, page > B9A). > > Executives at more than two dozen of the nation's largest corporations > have been meeting quietly over the past year to brainstorm ways to > recruit and retain workers who make less than $8.50 an hour ....The > human resources executives have dubbed themselves the Employer Group > ....To try and help -- and keep -- their low-wage workers, some > employers are providing such services as: subsidized child care; > on-the-job immigration and tax-filing advice; food discounts to > workers' families; free prenatal programs for employees or spouses; a > telephone hot line to social workers who help with transportation and > child-care crises; a dormitory for employees who had been living in > crowded, unsanitary conditions; and specialized training for managers > ....The executives describe their motives as economic, not altruistic. > All operate in highly price-competitive industries that depend on > stable, low-wage work forces, and they say market realities make it > impossible to raise salaries significantly. Yet, the executives say > they have learned it is in their interest to help these workers cope > with a variety of life's crises ....(Washington Post, page C1). >
