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Economy #500054

NBC Evening News for Friday, Jul 07, 1978
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(Studio) Drop in June unemployment figs. noted. Youth unemployment figs. reported.
REPORTER: John Chancellor

(Los Angeles, California) Boom in construction industry described. Effect on hsing. availability of 1974 recession noted. [Builder Joel ROTHMAN - says delays in completing projects are due partly to materials, but mostly to labor shortages.] Outlook for construction labor market given.
REPORTER: Frank Bourgholtzer

(Studio) Rise in June wholesale prices reported Concern about American economy and especially foreign oil imports at Common Mkt. meeting in West Germany stated. (Recent trouble with satellite broadcasts due to strike in England, mentioned; viewer is advised to listen closely.)
REPORTER: John Chancellor

(Bremen, West Germany) (Portions of audio unclear.) Details of Common Mkt. leaders' meeting in Bremen, West Germany, given. West European consumers' cutbacks in foreign oil use in last 5 years and Common Mkt. leaders' agreement to cut oil use 50% by 1985 reported Their remarks that American oil use enables OPEC (Organization of Petroleum Exporting Countries) to raise world prices noted. [W. German Chancellor Helmut SCHMIDT - (thru translator) asks that other industry cntrys. set comparable targets.] Schmidt's indications that President Carter will be under pressure at Bonn econ. summit to reduce American's foreign oil imports stated; congress threats to stop Carter from imposing import fees on oil cited.
REPORTER: Irving R. Levine

Bourgholtzer, Frank;
Chancellor, John;
Levine, Irving R.

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