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Economy / Interest Rates, Unemployment #558560

NBC Evening News for Friday, Sep 04, 1987
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(Studio: Chris Wallace) Major banks reported increase prime interest rates after Fed. Reserve Bd. raised its discount rate; details outlined on screen.

(DC: Irving R. Levine) Factors underlying Federal Reserve Bd. chairperson Alan Greenspan's decision explained; details given, scenes shown. [Econ. Rudy PENNER - explains implications for consumer.] [National Association of Realtors spokesperson John TUCCILLO - expects higher mortgage rates.] Stk. market's response noted; White House position considered. [Pol. analyst Norman ORNSTEIN - cites possibility Ronald Reagan will imitate Dwight Eisenhower's statement on his appointed of Earl Warren when dealing with Greenspan's actions in election year]

(Studio: Chris Wallace) Unemployment in August said major factor in Greenspan's decision; details given.

(Boston, Massachusetts: Lisa Myers) Shortage of workers in key sections of economy examined; details given, scenes shown. Boston cited as example [Bank of Boston spokesperson John O'BRIEN - cites difficulty in filling vacancies.] Cecil Townsend's inability to find job noted. [TOWNSEND - cites his lack of high school diploma.] Incr. need for education for average blue collar jobs now and continuing fall of average reading level of most applicants discussed. [Boston Jobs for Youth program spokesperson Gary KAPLAN - notes lowest level jobs require academic, intellectual and soc. skills.] [Hudson Institution spokesperson William JOHNSTON - thinks Boston's problems are vanguard of nation's] Implications for women and minorities considered. [JOHNSTON - cites need for business community to become more involved in training and education of potential employees and current workers.] [KAPLAN - comments.]

Levine, Irving R.;
Myers, Lisa;
Wallace, Chris

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