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Inflation / Steel Industry #15038

ABC Evening News for Tuesday, Apr 13, 1971
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(Studio) White House issues inflation alert.
REPORTER: Howard K. Smith

(DC) Econ. report reprimands inflationary trends in transportation industry, meat processors, lumber industry and construction industry Report most concerned about steel industry [Council of Econ. Advisers Chairperson Paul McCRACKEN - says steel industry management and employees both have stake in holding down cost increases] Steel industry negotiations to begin soon on new contracts.
REPORTER: Tom Jarriel

(Studio) Steel Workers Union Press I. W. Abel says members victims, not causes of inflation; won't curtail demands.
REPORTER: Howard K. Smith

(NYC) Iron workers building World Trade Center make $12.35 per hour Workers rarely get 40 hour week due to bad weather, lack of materials. [Karl Koch Erecting Company President Robert KOCH - says workers deserve at least what making now; problem is using more men on job than needed.] [Iron Worker Foreman Robert CURRAN - says ask Nixon to spend week on outside of building in Winter; workers only on job total of 5-7 mos. per year] Inflation battle depends as much on political as economy
REPORTER: Gregory Jackson

(Studio) Senator Hubert Humphrey says Admin. trying to cure inflation by creating unemployment.
REPORTER: Howard K. Smith

Reporter(s):
Jackson, Gregory;
Jarriel, Tom;
Smith, Howard K.
Duration:
00:05:00

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