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Economy: Empl. / Stock Market / Rust Belt #116008

ABC Evening News for Friday, May 06, 1988
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(Studio: Peter Jennings) Econ. and political impact possibly resulting from low unempl. figure reported Report introduced.

(DC: Sheilah Kast) Empl. figs. examined; details given, scenes shown. [President REAGAN - says it's good to see more people working.] Fear of inflation discussed. [Econ. Don. RATAJCZAK - talks about possible bidding for empls., which leads to wage inflation.] Possible raising of interest rates by Federal Reserve Bd. noted.

(Studio: Peter Jennings) Stk. Mkt. Report "Rust Belt" defined. Report introduced.

(Lehigh Valley, Pennsylvania: Ned Potter) Brightening of employment picture in Rust Belt due to diversification reported [Technician Paul TRELOAR - comments.] Cutbacks by Bethlehem Steel Corporation in Lehigh Valley and by Chrysler Corporation in Kenosha, WI, reported balanced by success of smaller firms. [MIT professor David BIRCH - says whole new economy is springing up. Job figs. for large firms vs. small firms outlined on screen. Use of nonunion and part-time workers by smaller firms discussed. [Clerk Robert BERNIER, crayon worker Bernardine McGARY - comment on job situation.]

Jennings, Peter;
Kast, Sheilah;
Potter, Ned

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