[PEN-L:231] BLS Daily Report

[Richardson_D <Richardson_D@xxxxxxx>]

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BLS DAILY REPORT, THURSDAY, SEPTEMBER 24, 1998

Median number of years that wage and salary employees worked for their
current employer was 3.6 years in February 1998, down from 3.8 years in
February 1996, BLS reports. ... Workers in government had the highest
median tenure of the major industries, at 7.3 years.  Government workers
also tend to be older than private-industry employees.  Seventy-two
percent of government workers are age 35 or older, compared with 57
percent of those in the private sector. ... (Daily Labor Report, page
D-1).

The global employment situation looks "grim" for 1998-99, the
International Labor Organization said in a new report, predicting that
the number of unemployed people worldwide will reach 150 million by the
end of this year.  Training programs and lifelong learning, however, can
go a long way toward helping many of those workers find jobs while
bolstering countries' ability to compete in today's global economy.  The
ILO estimates nearly one-third of the world's labor force will be
unemployed or "underemployed" by the end of the year. ... (Daily Labor
Report, page A-1)_____The jobless rate is growing worldwide.  About 1
billion people--one third of the world's labor force--are unemployed or
underemployed, including about 10 million who have lost their jobs in
the past year because of the Asian financial crisis.  The report calls
the United States "the one notable exception to this grim employment
outlook" (Washington Post, page E1).

With the rapidly growing number of older Americans, particularly those
who are over 85 and frail, there is a shortage of more than 13,000
doctors trained to treat them, according to a 1996 study by the Alliance
for Aging Research, a nonprofit advocacy group. ... There are 8,800
physicians certified in geriatrics. ... The United States will need
36,000 physicians with geriatrics training by 2030 to care for about 76
million older Americans. ... (New York Times, page A1).

Hints of lower short-term interest rates sparked an across-the-board
rally in stocks, building on a base of investor confidence that was
several days in the making.  Stocks opened strong on overseas gains and
gathered momentum after Federal Reserve Chairman Alan Greenspan told
Congress the impact of the foreign economic crisis on the U.S. was
likely to intensify. ... (Wall Street Journal, pages A2, C1; Washington
Post, page A1: New York Times, pages A1, C1).

DUE OUT TOMORROW:  International Comparisons of Manufacturing
Productivity and Unit Labor Cost Trends, 1997


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