[PEN-L:2051] BLS Daily Report

[Richardson_D <Richardson_D@xxxxxxx>]

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BLS DAILY REPORT, FRIDAY, JANUARY 8, 1998

RELEASED TODAY:
   EMPLOYMENT SITUATION -- Employment rose in December and the unemployment
rate, at 4.3 percent, was little changed.  Nonfarm payroll employment rose
by 378,000.  Growth was spread throughout the service-producing sector, and
unusually mild weather across much of the country contributed to strength in
construction. ...
   COMMISSIONER'S STATEMENT -- Over the past year, payroll employment rose
by 2.9 million, or 2.3 percent, somewhat less than in the prior year.
Unemployment fell early in 1998 to 4.3 percent and has remained near that
level since April.  The 3.8 percent pace of growth in average hourly
earnings over the year was similar to that experienced in both 1996 and
1997.

A survey of employee benefits in medium and large private businesses reveals
that more employees participated in nontraditional health care plans in 1997
than in 1995, BLS reports.  While just over three-fourths of employees
covered by the survey received employer-funded medical care coverage in both
1995 and 1997, employee participation in nontraditional plans, such as
health maintenance organizations and preferred provider organizations,
increased from 63 percent in 1995 to 73 percent in 1997, BLS says. ...
Participation in traditional fee-for-service plans dropped from 37 percent
in 1995 to 27 percent in 1997.  In 1991, 67 percent of employees used the
traditional plans, in which employees pay for specific medical procedures as
the expenses are incurred, the data reveals. ...  (Victoria Roberts in Daily
Labor Report, page D-6).

New claims filed with state agencies for unemployment insurance benefits
dropped 22,000 to a seasonally adjusted 350,000 in the week ended Jan. 2,
the Employment and Training Administration says. ...  An economist with
Donaldson, Lufkin & Jenrette cautioned that the data do not necessarily
reveal a slackening in the labor market.  The data were influenced by two
holiday weeks and adverse weather conditions throughout the country. ...
(Daily Labor Report, page D-1; Wall Street Journal, page A2).

New orders for manufactured goods rose 0.6 percent in November, the Census
Bureau says.  The November increase follows a revised 1.7 percent decrease
in new orders in October.  October marked the only decline in new orders
since May. ...  (Daily Labor Report, page D-3; New York Times, page
C2)_____November factory orders edged up after falling in October, but
manufacturing remains weak. ...  (Wall Street Journal, page A2).

The shortage of skilled workers in the construction industry will continue
to be a major, if not the leading, cause for concern in 1999, according to
various surveys and trade association reports.  A  study by the Construction
Industry Institute shows that 75 percent of contractors are experiencing
shortages of skilled workers and that these shortages are costing
contractors and owners time and money. ...  Robert Gasperow, executive
director of the Construction Labor Research Council, releases an analysis of
collective bargaining in construction in 1998, which shows that the average
first-year wage and benefit increase in new labor agreements was 94 cents
per hour or 3.4 percent.  The analysis is based on 425 agreements covering
about 327,000 union building trades employees. ...  (Daily Labor Report,
page C-1).

The administration will host a summit on Jan. 12 on enhancing U.S. workers'
job skills in the new century, led by Vice President Al Gore.  It will bring
business, labor, government, education, and community leaders from across
the country together to discuss various topics related to enhancing U.S.
workers' job skills in the new century and is to take place at George
Washington University in Washington, D.C. ...  (Daily Labor Report, page
A-7).

Outplacement firm Challenger, Gray & Christmas says more layoffs were
announced in 1998 - 677,795 - than in any other year in the decade.  The
1998 total exceeds by 62,609 the previous decade high of 615,186 reached in
1993, the Challenger report says. ...   (Daily Labor Report, page
A-6)_____Job cuts announced by U.S. firms in December - totally 103,166 -
were the highest of the year, doubling the figures for November. ...
Analysts at the firm attributed the rise in job cuts to the Asian economic
crisis, low oil prices, and a weakening manufacturing sector (Washington
Post, page F1).

Retailers charted sales in December that were more robust than anticipated,
they reported. ...  (Washington Post, page F1)_____What was supposed to be a
good season for retailers turned out to be a great one instead, as
last-minute and post-holiday shopping propelled December sales gains to
their highest in half a decade.  Same-store sales, or sales in stores open
at least a year, a standard industry measure, rose 5.2 percent, according to
the Goldman Sachs Retail Composite Index.  Last year, December same-store
sales rose a hardy 4.1 percent, but not since 1994, when retailers posted a
5.6 percent gain, has the growth been so robust. ...  (New York Times, page
C1)_____Once the wrapping paper was cleared, Americans went on a shopping
spree that produced a surprisingly strong December for many of the nation's
big retailers. ...  (Wall Street Journal, page B4)


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