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To: Les H who wrote (37248)	1/12/2000 9:39:00 AM
From: Les H	Read Replies (1) \| Respond to of 99985

US BLS TO RELEASE CALCULATION OF AVAILABLE LABOR POOL By Steven K. Beckner Market News International - The Bureau of Labor Statistics plans to facilitate calculations of the closely watched pool of available labor beginning with the January employment report by releasing its own seasonally adjusted estimate of those who are not in the labor force but who want a job, Market News has learned. The pool of available labor is obtained by adding together those who are unemployed, who by definition are in the labor force and looking for a job, and those not in the labor force wanting work. Both groups of potential workers are in the 16-64 age bracket. In the past, the BLS has released seasonally adjusted data on the number of unemployed, but has only released unadjusted figures on those not in the labor force, but who want a job. So the Federal Reserve has had to make its own seasonal adjustments of the BLS data on the not-in-the-labor-force group, then add in the unemployed numbers to calculate the pool of available labor. The Fed staff developed its own statistical series on the pool at the behest of Fed Chairman Alan Greenspan. He has focused attention on the pool of available labor over the past year or more as an indicator of labor market tightness and the extent to which demand is exceeding supply in the economy. Last month, the labor pool dipped from 9.73 million to 9.67 million. >>>More changes. The unemployment report released last >>>Friday had new seasonal adjustments to show unemployment >>>at 4.1 percent, instead of 4.0 percent. The feds >>>continue to try to baffle the bond market.