Word: wages
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Dates: during 1970-1979
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...have long believed that our nation would be better served if more attention were given to economic realities than to economic symbolism. In particular, perhaps the Council on Wage and Price Stability and other economic controllers should consult more closely with the Government's own Bureau of Labor Statistics, for as you correctly pointed out, the steel-price increases that receive so much blame for inflation actually have only a very small impact on the Wholesale Price Index...
...newspaper's want ads demonstrate, but only about half as many as were offered ten years ago. One reason that many of the jobs are going begging is that some unemployed people can afford to be choosy about work. For instance, in New York, dishwashing at the minimum wage of $2.30 per hr. pays less than the unemployment compensation ($95 a week) available to a skilled worker who is out of a job. But according to New York State Labor Commissioner Philip Ross, a more important reason is that most advertised jobs require some skills, and high schools...
...skyrocketed from the initial projection of $900 million when construction began in 1973, to a recent figure of about $7.5 billion. The tremendous jump in construction costs can be attributed to a number of specific causes, such as unforeseen construction difficulties in particular areas, inflated material prices, and wage demands presented by the powerful unions...
...overruns will not decrease their profits. "Cost-plus" is in one sense an inducement essential to getting companies to invest large amounts of capital in a high risk situation, but from another perspective, it removes the pressure on companies that would ordinarily cause them to keep a lid on wage demands and seek the greatest possible worker efficiency. "Cost-plus" guarantees that the consumer will pay the tab, not the company...
...could stay in business. Actually, the company has reduced its debt and break-even point so greatly that no one expects it to go under. Nonetheless, A.M.C., pleading poverty, last week asked the United Auto Workers to extend its contract until Sept. 16, rather than shooting for a wage boost...