CBS Evening News - 1992-09-04
Channel: malgent
Uploaded:
Duration: PT1738S
Read a transcript preview of “CBS Evening News - 1992-09-04” from malgent, uploaded on 2025-09-03.
Transcript preview
Language: English (original, YouTube automatic captions)
[0:00] Americans
[0:01] [Music]
[0:04] compete for fewer jobs, and it's a sure
[0:06] bet unemployment will be growing again
[0:08] by election day. In South Florida,
[0:12] shoddy construction may have added to
[0:14] the destruction from Hurricane Andrew.
[0:16] And a bloody summer in Los Angeles as
[0:19] urban stress builds up and boils over.
[0:22] >> Pray for peace in our city.
[0:26] >> This is the CBS Evening News.
[0:33] Good evening. I'm Connie Chung sitting
[0:35] in tonight for Dan Rather. Today's
[0:37] unemployment report from the government
[0:39] appears hopeful on the surface. It says
[0:41] the nation's unemployment rate is down
[0:43] slightly for the second month in a row,
[0:45] but the latest decline is the result of
[0:47] a summer jobs program for teenagers.
[0:50] That program is about to end. And as Ray
[0:52] Brady reports, the picture ahead is
[0:55] bleak.
[0:57] On the face of it, today's news look
[0:59] good for jobs. The unemployment rate
[1:01] fell to 7.6%
[1:03] down a tenth of a percentage point. But
[1:05] the figures also show a huge job loss.
[1:08] 83,000 jobs gone during the month with
[1:12] many of those jobs lost in
[1:13] manufacturing, the industry that's the
[1:16] heartbeat of the economy.
[1:18] >> The story today was a huge decline in
[1:21] jobs at business establishments and
[1:23] particularly in the manufacturing
[1:25] sector. It's unheard of in a recovery to
[1:28] see employment as weak as it was
[1:30] signaled today.
[1:31] >> There minutes after the unemployment
[1:33] announcement, the Federal Reserve moved
[1:35] to cut interest rates to speed the
[1:37] economy. But those strikes and layoffs
[1:40] at General Motors and thousands of inner
[1:42] city kids soon to come off those summer
[1:44] job payrolls. Those cou