Word: bene
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Dates: during 1980-1980
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...next year. Economists estimate that a miscalculation of one percentage point in the unemployment rate would throw off the House budget figures by more than $25 billion-a loss of $20 billion in revenues and an automatic increase of $5 bil lion to $7 billion in unemployment bene fits. Conceded New York Republican Congressman Barber Conable, a member of the Budget Committee: "There is a substantial aura of make-believe about our prognostications." After the House vote, the budget battle moved to the Senate, where Ernest Hollings of South Carolina has succeeded Edmund Muskie as chairman...
Labor negotiations for a new three-year contract are now under way in Pittsburgh, and they will shape the industry's labor costs for the early 1980s. The 450,000 steelworkers are among the highest-paid American industrial laborers; their hourly wages average $10.59, and bene fits swell the total to $16.80. The United Steelworkers' high priority now, says President Lloyd McBride, is to win better pensions for their 250,000 retirees. Equally important is preserving jobs; in the past 20 years, more than 100,000 jobs have been lost because of plant shutdowns. Thus the union does...