Masonry Magazine July 1970 Page. 33
Washington Wire
(Continued from page 15)
Profit margins should widen again but only moderately, at the start as labor costs stabilize. In effect, the rising productivity will be offsetting the impact of the big wage settlements still to come in autos, steel, and other lines.
THE HIGH LEVEL OF UNEMPLOYMENT WILL HELP DAMPEN inflation further. The White House won't rejoice when the figure goes higher than today's 5%. But increases in the number looking for jobs make this all but inevitable. History discloses that a jobless rate more than 5% inhibits labor's ability to win big wage boosts. Slowing wage hikes may even bring lower unit costs.
Price specialists think they already detect faint softening in materials and finished goods. The Consumer Price Index rose 0.6% a month in the first quarter 0.5% in the second. It's hoped the rise will fall below 0.4% in the last half.
THE TALK OF NEW TAX INCREASES NEXT YEAR, after the elections, stems from the fact that the budget for fiscal 1972-opening nearly a year from now-will show another deficit, and perhaps a huge one. Many programs that took token sums at first will reach the big-money stage. And revenue will drag as business rises slowly and tax reforms take effect. Congress would not want to raise taxes... but might have no choice, if facing new inflation.
CONGRESS MAY VOTE TO ALLOW CLASS ACTION SUITS by groups of consumers this year, say specialists in this field who have been following such bills. The idea would permit many who feel wronged to get together, sharing costs. The result may well be a rash of suits which business would have to defend, whether the suits are justified or not. Naturally, many groups oppose this.
One proposal would permit Federal Court suits where claims total $25,000 or more. (Each claim would have to be larger than $10.) For less than $25,000, state courts would have jurisdiction. Another bill would send all suits to state courts. The final bill may depend on the President's view.
THE PROPOSED CONSUMER PROTECTION AGENCY IS GETTING a lot of support on Capitol Hill. It is supposed to exercise surveillance over U.S. bodies dealing with consumer matters-product safety labeling... all regulations. The new "watchdog" agency would be responsible exclusively to Congress-not to the White House to reduce the possibility of political pressures.
Consumer legislation still faces critical tests in both the House and Senate. But it has been faring much better, and has gone much farther, than most observers had expected.
MANAGEMENT RIGHTS ARE BEING INCREASINGLY CURBED by union contracts, according to a survey just completed by the Bureau of National Affairs, Inc. Provisions limiting "contracting out" work which could be done by employes in the bargaining unit now appear in 35% of agreements, up from 19% in 1960. Most clauses permit subcontracting only if skills are not available inplant.
Certain limits on union activity are being spelled out more frequently these days, too limits mainly affecting activity on company time. Some 35% of contracts have such clauses.
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