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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
May 01, 1991
Page
13
The Labor Department reports the employment cost index shows wages salaries and benefits up 4.6 percent for the year ending in March 1991, down from 5.5 percent a year earlier and below the December pace. Non-union workers gain more than union workers across private sectors. State local government costs rose 1.6 percent for January to March.
Labor Department reports 1991 first quarter settlements averaged 3.4 percent annual wage gains over contract life. Nonmanufacturing agreements averaged 4 percent, manufacturing 2 percent, with construction about 2.1 percent. About 215,000 workers covered under 49 contracts, with 624,000 workers under 170 expiring or reopening in April to June.
A much anticipated rate cut lifted stocks on Tuesday as the Dow Jones average gained 10.89 to 2,887.87, its first advance in three sessions. NYSE volume reached 206.05 million shares while the composite rose to 205.37 and S P indexes advanced, but NASDAQ and AMEX posted declines amid mixed economic signals.
Cargo traffic at the port of Baltimore climbed in January and February with container volumes up 18 percent from the same period last year, according to Brendan O Malley, executive director of the Maryland Port Administration.
Stocks of area interest report the Dow Jones Industrial Average at 2887.87 with a gain of 10.89 and NYSE volume of 206,055,000 shares. New York gold is listed at 359.01.
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