Masonry Magazine February 1971 Page. 16
Washington Wire
Many economists concede that consumer psychology can shift fast. This quarter's spurt could serve to catalyze consumer spending and generate enough additional upthrust to keep a robust expansion going. Without new consumer confidence, the economy could suffer a relapse, returning to the kind of sluggishness that characterized so much of last year.
Government economists are less certain of a spurt in consumer buying than are retailers, who view the strong Christmas wind-up as a hopeful omen. Sales so far in '71 have shown modest gains over comparable year-ago weeks. But the stores believe there is pent-up demand for clothing and home items. People will move to satisfy these by reversing the saving-spending pattern. Retailers do admit that the stronger spending won't be obvious till spring.
Government economists do not put much weight on the late-Christmas buying spurt. They wonder what the holiday sales picture would have looked like if stores had not featured pre-Christmas sales and offered substantial price savings.
Washington sees the ingredients for a long strike in steel this year. The companies have suffered from low profit margins and import competition. They simply must go all-out to hold down the extent of the wage settlement. On the other hand, the United Steelworkers will demand an expensive package. They are convinced they have been robbed by inflation and must now catch up.
Washington observers think a strike could last two months or more. One thing that could forestall a lengthy shut down is the President's intervention. But this seems unlikely now.
Problems of drug abuse now demand increasing attention by industry. Incidence of drug habits among employees is growing at a very rapid rate. Marijuana use is estimated to involve nearly 1.2% of all production workers. The figure drops off to 0.7% for office workers and to 0.1% for management. Hard-drug addiction now affects 0.4% of production workers in U.S. companies.
How can you detect a job applicant or an employee with a drug problem? For applicants, you should check with prior employers and arrange physicals. Among regular employees, detection methods must rely on close observations. Job performance and absenteeism records also can be valuable.
Nixon's revenue-sharing plan won't have an easy time with Congress. Many of the lawmakers understand the financial plight of local governments. But Ways and Means Chairman Mills and top
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masonry • February, 1971