Steel Labor Bargaining and the Economy
Uncertain Outlook on Steel Wages and Prices
Steel Makers and steel workers have entered on a period of crucial bargaining the outcome of which will have an important effect on the state of the nation's economy in 1965. Although the initial talks at Pittsburgh are reported to be progressing smoothly, a strike is still possible should a final contract not be signed by May 1. On six occasions since the end of World War II the United Steelworkers of America has called a nationwide work stoppage. The most recent labor-management impasse in steel ended in a 116-day shutdown in 1959.1
Some observers believe that the economy might be as adversely affected now by the cost of a steel settlement as by ...