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Aiken Standard in Aiken, South Carolina

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Newspaper

Aiken Standard

Location

Aiken, South Carolina, United States of America

Date

Dec 21, 1997

Page

3

IMF warns Asia crisis to spread globally in 1998

The IMF updated its World Economic Outlook predicting a worldwide slowdown in 1998 with growth at 3.5 percent, a drop from prior forecasts. It says the crisis in Asia will affect all nations, boosting unemployment and widening the US trade deficit as global markets reel. The US is seen expanding at about 2.4 percent next year, down from 3.8 percent this year.

Washington Asia United States International Monetary Fund Thaiand Indonesia South Korea IMF

Creativity keeps jobs filled amid tight labor market

As unemployment sits at 4.6 percent the lowest in 24 years firms push creative strategies to hire and retain workers. Fel-Pro Inc in Skokie Illinois uses benefits internships and team projects to attract 2000 local staff and 3000 globally while facing high wage costs and slower labor-force growth ahead.

Washington America Skokie Ill Fel-Pro Inc Dennis Kessler Labor Department

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