BLS Daily Report

[Richardson_D <Richardson_D@xxxxxxx>]

BLS DAILY REPORT, WEDNESDAY, APRIL 26, 2000

The average person in the United States holds 9.2 jobs from ages 18 to 34,
according to a longitudinal study by BLS.  More than half of these jobs (5.6
positions) are held between the ages of 18 and 24, according to the study.
...  (Daily Labor Report, page D-1).

The consumer confidence index declined for the third straight month in
April, but the level of optimism remains high, according to figures released
by the Conference Board. ...  The decline was caused by a modest decrease in
optimism about the present economic situation. ...  April survey responses
showed that the proportion of households claiming that jobs are "hard to
get" rose to 12 percent from 10.6 percent in March.  Consumers who said that
jobs are "plentiful" declined from 53.3 percent in March to 52.4 percent in
April.  Looking ahead 6 months, the job outlook was positive. The percentage
of households expecting more jobs to become available rose marginally --
from 15.7 percent in March to 15.8 percent in April. ...  (Daily Labor
Report, page A-1)_____Consumer confidence weakened in April for the third
consecutive month, suggesting there could be some slowing of the spending
that has fueled the nation's growth.  But American's expectations about
future business and job opportunities remained strong, and economists said
they expected this would cause the Federal Reserve's policy setting
committee to raise interest rates the sixth time since June 1999 when it
meets on May 16. ...  In a separate sign of economic strength, the National
Association of Realtors reported that sales of existing homes rose 1.5
percent in March, the second consecutive monthly gain despite rising
mortgage rates. ...  (New York Times, page C10)_____Rising interest rates,
signs of resurgent inflation, and a volatile stock market have done little
to shake the confidence of the American consumer.  But there are faint signs
that spending may cool modestly in the months ahead. ...  Sales of
previously occupied or existing homes rose 1.5 percent in March.  Many
economists had been looking for sales to flatten out or drop slightly as
rising mortgage rates make it more expensive to buy a home. ...  (Wall
Street Journal, page A2).

A stunning turnaround has restored Asia's status as the world's
fastest-growing region, but its recovery "masks substantial problems," warns
the Asian Development Bank. ...  (USA Today, page 1B).

By 2025, one-third of Europe's population will be pensioners, creating a
heavy burden for workers paying taxes into government pension systems, says
The Washington Post (page A1). ...  Financing pensions will become more
difficult as populations age in Europe as well as in the United States.  The
situation is worse in Europe, where people depend solely upon government
pensions and officials have been slow to enact reforms. ...  The Post
includes graphs that show that the number of elderly will grow compared with
the working population, more and more people are retiring before age 65,
public pension and health care spending will continue to grow, and raising
taxes to finance pension systems is an unpopular solution since
contributions are already quite high.

Recruiting the elderly -- men and women who want to occupy their day, battle
loneliness, or top up their pension -- has become a Dutch growth industry.
While unemployment hovers around 10 percent in other parts of Europe, the
Dutch now have the opposite problem:  With only 2.7 percent jobless, the
country is seriously short of workers.  Forecasts through 2040 show that the
population of Dutch seniors is on the rise, while the 20-64 workforce is
not, allowing many retirees to return to work. ...  (New York Times, April
25, page NE6).

DUE OUT TOMORROW:  Employment Cost Index -- March 2000

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