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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Mar 02, 1982
Page
5
President Reagan says the recession has begun to level out despite nine months of falling indicators while officials warn it may not end soon. A deputy secretary projects unemployment could hit 10 percent as Commerce Secretary questions whether the downturn has run its course. Reagan analogizes the economy to a ship riding out a wave.
Secretary Baldrige notes January indicators fell but cautions the recession may not be over. He remains cautiously optimistic forecasting a possible second quarter rebound. Deputy Treasury chief McNamara warns the downturn could be worse than earlier scenarios.
UAW president says he will consult locals on reopening talks after a historic wage and benefit concessions agreement with Ford Motor Co. In Chicago, AMC council votes to pursue more details on a proposal that would require 15,000 workers to loan the company wage and benefit increases.
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