U.S. dollar strength ‘costs jobs’
NZPA-Reuter Washington The strength of the United States dollar in world currency markets eliminated almost 615,000 jobs in 21 United States manufacturing industries, according to a report by Ralph Nader’s Responsive Law Centre. Construction and mining machinery lost 101,000 jobs, radio and television receiving equipment lost 70,500 jobs, and fabricated metals lost 60,400 jobs, the report
Said. The dollar, up 77 per cent in the four years ended September, 1983, boosts imports by raising the price of United States produced goods and cutting the cost of goods made abroad. Mr Nader, a noted consumer advocate, said that President Reagan’s fiscal policies were to blame for an overvalued dollar that had produced a trade deficit expected to reach a record $l3O billion this year.
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Press, 8 November 1984, Page 4
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128U.S. dollar strength ‘costs jobs’ Press, 8 November 1984, Page 4
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