[PEN-L:11446] FW: BLS Daily Report

[Richardson_D <Richardson_D@xxxxxxx>]

BLS DAILY REPORT, THURSDAY, JULY 24, 1997

Top Fed officials went to Capitol Hill again yesterday ....In answer
to the question, "Is inflation so low that deflation is now a worry?,"
Greenspan said, "`While ... the measured inflation rate has come down
... there are none of the characteristics in this economic structure
which lead us to conclude that we are moving in a direction of
deflation,' a worrisome tendency for prices to fall.  A good part of
the recent decline in producer prices reflects a welcome decline in
computer prices.  Prices of services still are rising ...."

Workers can expect pay raises this year and next of 4.2 percent,
roughly equal to annual pay increases they've been getting, according
to a compensation planning survey conducted by William M. Mercer Inc.
of 900 mid-size to large companies.  Their bosses can expect raises
this year of 4.4 percent and next year of 4.3 percent, the survey
found ....(Washington Post, page E1).

DUE OUT TOMORROW:  BLS Reports on Employee Benefits in Medium and
Large Private Establishments, 1995