Almost every area is experiencing inventory shortages. The market for new construction is very active and spec construction is noted in some areas. Nonbank Financial Services Respondents at insurance companies report first-quarter 1998 revenues ranging from flat to up 17 percent. Contacts report significant increases in sales of group disability insurance, largely due to demand from smaller employers who appear to be responding to the tight labor market with improved benefits. Respondents among property casualty insurers report continued downward pricing pressure in commercial lines.
Employment is generally level.
Most respondents note continued shortages of computer programmers, especially those to work on the Y2K problem. Some also report difficulty filling high-level professional positions in underwriting, accounting, legal, and finance. Among industries, average annual job growth is projected to range from a low of 0.2 percent in manufacturing to a high of 2.5 percent in services. To comment on this site, please fill out our feedback form.