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Economy / Unemployment / Cong. #29070

ABC Evening News for Friday, Nov 01, 1974
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(Studio) Unemployment reaches 6% in October 5.5 million out of work. Joint economy committee holds hearing.
REPORTER: Howard K. Smith

(DC) [Senator William PROXMIRE - asks for analysis of situation.] [Labor statistics commissioner Julius SHISKIN - says situation serious.] [PROXMIRE - says President policies likely to push us into recession if there's not already one.] [SHISKIN - says administration feels there's 2-edged sword: rising inflation and unemployment.] [PROXMIRE - says administration doesn't show sensitivity.] $500,000 to be for public works jobs if jobless rate stays above 6%. Plan probably to go into effect after election.

Clark, Bob;
Smith, Howard K.

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