1973-04 April IBEW Journal.pdf - International Brotherhood of ...

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departlnent of Research and Ed'ication ACCELERATION OR SLOWDOWN • .. rh..: \(ugo.: is ~..:t for wide .-,prcad guin~" in Ih..: U.S. cl'onllmy this ycar, Ih~ C()l1lm~'rcc Ikpaftmen! foro.:casts in tho.: 1973 edition of the U.S. /I/(/mlria/ Ow/vol.. Yo:t. a somewhat opposing vicw up J>l.'an:d in the February 27th iS~lIo.: of the !Vall Sfrt'el lUl/rlwl. In essence, Ihe JO//l"/la/ article rcporlo.:d that many ..:conomists see a l>harp slowdown increasingly probabk in the latter p:lrt or (hb year. And. then. thl' January issue of FlJrllllU'. in ils arlicle on "Bu... in c\'~ Roundup," had this to say: "... in terms of the economic growth. 1973 prnmiscs to be at feasl as good a year a:. ]l)72-and probably even a bit bcltcr." To !oay that our nalion\ economic ftHure I:' ::,olllcwhal uncertain coulll well be rccorckd as tilt' un (h,:rstatcm..:nt of the ).:ar. Vil'WS on the economy run the full gamutfrolll such expectation" as boom and continul':d cxpan).ion to the pussibility of i\ lI1ini -rece~s ion. A l:iudul \vcishins of somc of the mon.: reccnt and :.ignificant development:. ill our economy even makes th .:- task of predicting its per formance more diflicult. The go\' ernment":. gO:11 of curbing intJation and thus limiting tho.; Consumcr Price 1 ndcx (CPI) to an annual illcrea).e of 2.5 pl'r cent seems hardly at(ainabk in view of the f\·c·l"rlt. walloping incrca).cs in the Whole ).alc Price IrKkx (WPI ). which i:-, a fnrcrullIll'r 10 the C PI and corn he u,>cd 10 imcrprl't forthcoming C PI behavior. Morcowr. the cpr ihelf Tu:.e at an annual rate of 6 per cent in the month of January. To add to OUT co~ t -()f-living problems, wc have expcricllced two dl':valuation .. of the American dollar in a period of 14 month).: ncedJc~~ to mention its intt'rllalional cconomic ramifie:ltions. Many domestIcally-manufactured products usc imported COrllponcnts or raw materials, such as oil, copper, aluminum anu iron 01'1..\ rublK'r, i\nu ).il1lilar material. Thdr in!;fI:>r"'':i.I price will be pa!>..,ed through 10 the consuml'r~with a ,mall upw:lru impact on the overall Amcrican pricc Ic\'d. Oullook The outlOOK for economic Jcvclopments Juring the cour!>c of 1973. particularly in thl': laller p:lrI of the )ear. i~ further clouded. The ::rdmini~tnrtiun·'" propoM:d Cllts of c'»enll:11 government program'> an(1 prcdktilllh of tightcn..:d monctary pohcy~\\lth Ir1tere~t r(ltes already moving up---can bring a sub!>tantial ~ lowJO\\n in the pacc of the economy's ~'xpamion, if they becoml.) (l rl':ality. Morcovcr, the probabk slowing in the riSl' of consumer expo.!nuiture~. which account for do~ to two-third ... uf the lowl n:ltional o utput. clIn add to the l'mcrg..:nce of growing economic difficulties befo re thl! cud of the year. NOlldhck..,.." with 4A-million workcr~. or 5 per C~llt of the labor fon:l·. still uncmployeu in January. it h obligatory for thc Nixon Ad· ministr:ltion 10 pur~uc a rate of cconomic cxpansion so that furthl.'r reductions in Ihis un ~at i s facto ry Icwl of urll'mployment nr,' ;'lchi\'vccl. This would bc con:.onant with the sharp g:lins made in the rate of prouuctivity, which many ecollomi..,b claim i, a I..cy dement in thc U.S. l'COnOrH} 's prosp.:cls for growth and ~lab ilil\ . Economic T re nds In 1971. productivity in the priv>rtc economy rose 3.6 pel' cent-a fa).tl'r pael': than the long-term trend since World War I I, and ill 1972. productivit}' accekr.Hcd to 4.2 I)C~ ~ent. This ).harp ris..: in productivity, combinl'd with the ).I{muown in the increase or wage).. re).ulied in a considerablc slowdown in the ri).e of unit labor costs on the onc hand, but on the oth ... r hand, il rl'~ultl'd in a ).ub!>tantial widening of profit margim. Hence, with thc ('xpan).ion of salcs, corporate profib. after taxl.!s, ..,hot up :n 1e:I..,t 15 per c\.·nt in 1972, f\)lIowing a 14 per cent ri~ in 1971. and arc eXpl'(·ted to ri,c b} an ewn greatcr IlwgnilUu,,: in 11)73. IncJmtrinl prnductinn wa.., up over 10 pcr cent in 1912 and i, expected 10 continue to ris..: on throu,gh 1973. HOUlIillg Slarh, ho\\ ever. another important ..:conomic inuicator of our econom)·:. behavior. afe \.·xpected (0 t1cclin..:. according 10 \0urc('s in the homebuilding indu~lry. Last yellr. the core of the l':COnomy'). rapid ex pansion was ill rC'iidcntial comlruction and con ,>umer ,>pending Hom,i ng :.tarts rose from the depre:;!>ed level of lA-million in 1970 to 2.I-million in 1971 and 2.+tlIillion in 1972- ,purrcd by govcrnment programs, a widespread housing shortage, :111(1 increasing rea l irl!;(Jmes of many families. The volume of con).Ul11l':1' c .. pcnditurc).. after accounting for increal>l:d pl'ice:;, rose 6 per cent in 1972. folio" ing a nearly 4 per ccnt gain in the pre\'jous year. Thl' pacl' of rising consuml..'r I.'Xp..:nditllfl':" will probably slow dC)\\ll in the carly part of this ycar. The anticipated ,lowing of imtllllJllcnt buying and thc growing burden of repaymenb illl'un that the pace of ri~illg COIl:.Ull1er ('xpcnditllfe!>, dur IlIg thl' '>ecnnd part of the ycar, \\ill inercu!>ingl} ul']>end on COIl!>Ulller bu) ing powcr and confidencc-employment. wagl's, and the degree of advanc(' of li\ ing costs. A ~hlckening ri~c of enn,utllcr spending durrng thl': ~econd half of the ycar and the expcct ... d ucdim: of housing Mans through 1973 can be o ff:.ct. only p;lrLiully, b) the anticijJ:tku 14 per cent rise of bu.!.ines:. inw:.tmcnl in plants, machines. and equipment. r8EW Jou,nClI
p.hl ! H month!'!, invCl>t Ov~r th ~ m ~ lll ill IK'W plant alld ":(!Idpm..:nt illc rca~cdt in rcal ( Crill)" at a 9 per c~nl rate. During Ihc lalll'r part of ! 973, the national econolllY may OCcom.: llominal..:d by a I..:mporary CONSUMER PRICE INDEX- lop.'!>ided boom uf bu~in e~~ OllIla).'!> for capital good .., particularly in the manufacturing "eclor, with decline!. o r .')Iowcr r a t ..:~ of cxpamion in other econumic '
Page 1 and 2: o JOURNAL' APR' 73 o @QQO
Page 3 and 4: EXECUTIVE OFFICERS CHARLES II. I' I
Page 5 and 6: ... FORM 4875, THE EMANCIPATION PRO
Page 7 and 8: lectrical Week Joint Ap French, Exe
Page 9 and 10: nR0TIIH~.I\I...'-"'\\) l:-rfl:R:-:
Page 11 and 12: Leadership Training Held • In Den
Page 13 and 14: gunge Inborntories. electronic cari
Page 15 and 16: General Industry Guide for applying
Page 17 and 18: UNIONS REST IN PEACE! • A group o
Page 19 and 20: ISEW Journeymen and Apprentices A N
Page 21 and 22: 0NGRESS ****************R***' u.s.
Page 23 and 24: applenticeship & tlaining • A /Ie
Page 25 and 26: up which concurs with your views, i
Page 27 and 28: It j, too soon to tell if Ihis appr
Page 29 and 30: Pin Presenta tions In January, l~al
Page 31 and 32: weeks were without pay). During th:
Page 33 and 34: On the Job The new Cavalier Ford bu
Page 35 and 36: Award Presentations International R
Page 37: New Chairman Brother Gterl SlIuler,
Page 41 and 42: Firs' Aid Class Apprentice Closses
Page 43 and 44: sec by the four pholOs. we ha" C fe
Page 45 and 46: employed by three of our contractor
Page 47 and 48: Nor much has hee n huppcning in rhe
Page 49 and 50: lIealh. of h'O memhcr ~. Killco.l i
Page 51 and 52: 8aseball Teams baseb3!1 ,• .,ms o
Page 53 and 54: These Ih,.. photos show mlmbeB of L
Page 55 and 56: Man Can Achieve Peace, Says Press S
Page 57 and 58: Among his other activitie). our Bro
Page 59 and 60: H;lmillon; 303. SI. Ca[harines; and
Page 61 and 62: memOer~ anu ~iuo~\ of lhe JOC'al. a
Page 63 and 64: is quitc a feat 10 beCOlllC ccnific
Page 65 and 66: In It>ese 1 ... 0 pt>Oloa. members
Page 67 and 68: First Awards Night Appr.,,,hc:eshlp
Page 69 and 70: pare for uJX:orning negotiatiOIl'.
Page 71 and 72: In memORiam Grt/III Ihl'lII 1'1/'/'
Page 73 and 74: !'(on l Pens. (191) Pens. (2021 " e

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