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To: stock bull who wrote (130448)	6/2/1999 1:02:00 PM
From: Lee	Read Replies (3) \| Respond to of 176387

SB,..Re:.Yes, wage inflation is a major area of concern. If you look at the bottom graph, Employment Cost Index and Compensation Per hour, on the link below you might find that we don't have 'wage inflation'. In fact, according to the last jobs report, wage increases this year, Year on Year, are 3.2% which is less than last year's rate of 4.6% or ECI report which shows 3%. stls.frb.org stats.bls.gov Over the year, hourly and weekly earnings each rose by 3.2 percent. stats.bls.gov The Employment Cost Index (not seasonally adjusted) for March 1999 was 140.4 (June 1989=100), an increase of 3.0 percent from March 1998 Regards, Lee