Word: steels
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Dates: during 1950-1959
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...prayers began to rise last week around the 200-ft. steel cross in Konigsplatz, only about 1,000 East Germans were on hand. As a group they were beginning to look like a different kind of German. It was a difference that could be seen in little things-the nervous eagerness with which the director of the Reds' reception center greeted new arrivals, his small embarrassment at having to give them 30 marks' pocket money, the East Germans' skittishness at the approach of a Western newsman. Both East and West felt the urgency of the widening...
Since the Labor Department's survey was taken during the first week of the steel strike, it showed few of the strike's effects. As the steel strike started, unemployment was down by 238,000 from June to 3,744,000. But an unusual rise in the number of unemployed farm workers in July because of bad weather, and large numbers of young workers moving in and out of the labor market, raised the rate of unemployment to 5.1% from 4.9% in June. The July rise was caused by "temporary factors," said the Labor Department, which expects unemployment...
Although employment figures did not show the effects of the steel strike, the Federal Reserve Board's industrial production index did. Some 100,000 workers were laid off in mines and railroads, and carloadings dropped to 532,304 cars, lowest for a comparable week in years. Last week the Steelworkers Union and others called a strike at Kennecott Copper Corp. and Magma Copper Co. that idled another 15,000 workers. As a result, industrial output declined 1% in July to 153% of the 1947-49 average, two points below the record June level of 155%. But activity in most...
Many stocks, including some electronics, regained much of the lost ground before week's end. Wall Street took the break in stride, cautious but unfrightened. With prospects ahead of an economic spurt once the steel strike ends, most Wall Streeters expect the averages to break through the 700 mark before year...
...vital issues in the steel strike are the twin threats of inflation and foreign competition, which have stiffened the stance of management toward the steelworkers' bid for higher wages. By last week, the fifth week of idleness for the biggest U.S. industry, these broad matters revolved around a little-known section of the steel contract that has brought negotiations to a virtual standstill. The section: the past-practices clause. Written into contracts since 1947, the clause jealously protects local working practices or customs that have existed regularly over a long period, in effect provides that...