HomeMy WebLinkAbout6180 - ADMIN Resolution - City Council - 1978/12/04r
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DECEMBER 4, 1978
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RESOLUTION NO. 6180
RESOLUTION SUPPORTING ECONOMIC GUIDELINES RELATING
TO WAGE AND PRICE STANDARDS
WHEREAS, over the past three years, our nation's economy has made great
strides in recovering from the severe recession of 1974-1975; and
WHEREAS, since early 1975, the rate of unemployment in the nation has been
reduced from approximately 9 percent to 6 percent, and more than ten million new
jobs have been created during this period; and
WHEREAS, the nation's physical output has expanded by almost 20 percent, and
the real after-tax incomes of consumers have risen by more than 15 percent; and
WHEREAS, despite continuous gains in the nation's economy, no recent progress
has been made in abating the rising rate of inflation; and
WHEREAS, economic inflation now ranks as our nation's most serious economic
problem; and
WHEREAS, in an effort to reduce the acceleration of inflation, the President
of the United States has issued economic guidelines urging all public and private
sector organizations to limit all wage and price increases to 7 percent; and
WHEREAS, the City of St. Louis Park recognizes without guidelines or controls
the rate of inflation will continue to accelerate, worsening the effect on all
consumers and result in economic recession; therefore,
BE IT RESOLVED by the City Council of the City of St. Louis Park that the
City make every effort to operate within the economic guidelines for wages and
prices as promulgated by the President.
Adopted by the City Cou '.il December 4, 1978.
Reviewed for a. ministration:
Manager
J ,/
,
May
Approved as to form and legality:
City Attorney