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Economy / Unemployment / Predictions / Steel Industry / Child Labor #491199

NBC Evening News for Friday, Oct 07, 1977
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(Studio) Unemployment for September is down from August figs., but barely. Some unemployment is for social, rather than economy, reasons.
REPORTER: David Brinkley

(DC) At congress hearing on unemployment, there is concern that rate is stuck in 7% rut, despite money appropriated by Congress to provide jobs. [Senator William PROXMIRE - notes that level of unemployment has been about same since April.] [Senator Edward KENNEDY - notes rate seems stuck.] Details with regard to unemployment rate noted; jobs are available, but many are low-paying, menial jobs. [Labor Statistics commissioner Julius SHISKIN - noted many of these jobs are stereotype jobs and people don't want to take them.] September figs. come out on same day that Senator considers minimum wage bill. Some econs. believe higher minimum wage would make employers more reluctant to hire unskilled workers.
REPORTER: Irving R. Levine

(Studio) Blacks suffer from unemployment far more than wts.
REPORTER: John Chancellor

(DC) Though no figs. were kept during Great Depression, this is when Americans' obsession with unemployment began. (Photos from 1936 and 1977 shown.) Details with regard to unemployment figs. for blacks in all categories, compared with wts. and Hispanic-Americans, cited. Blacks are told part of answer is in preferential, affirmative-action programs; however, some whites claim this is reverse discrimination. Reverse discrimination is about to become debate subject across United States.
REPORTER: Tom Pettit

(Studio) Econ. predictions from Washington, DC say growth in 2nd half of next year won't be enough to reduce unemployment much and that goals of balanced budget and 4% unemployment by 1981 are no longer feasible. Wage and Price Council reports on steel industry; notes price increases in last 5 years and says industry is source of serious inflationary pressure. Still, layoffs in steel industry continue.
REPORTER: John Chancellor

(Detroit, Michigan) Great Lakes Steel Company lays off 600; says reason steel isn't selling is that government allows too much foreign steel on market For. steel is cheaper than American steel because foreign govts. subsidize industry Lcl. Steelworkers official Earl Stamper says United States government must start providing subsidies or stop imports. [STAMPER - says imports must be stopped so American steel can build up inventories and save jobs.] Some claim management just uses imports as excuse to close old, unprod. mills, but Great Lakes plant is modern. Sois foreign steel that puts people out of work here.
REPORTER: Bob Kur

(Studio) Senator votes to allow children as young as 10 years old to work in harvest.
REPORTER: David Brinkley

Reporter(s):
Brinkley, David;
Chancellor, John;
Kur, Bob;
Levine, Irving R.;
Pettit, Tom
Duration:
00:07:10

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