The 70’s was a time of financial “malaise”, in that there was continuing inflation and a stagnant business activity which resulted in only nine major building (below) being built in downtown Chicago and continued the same rate which had taken place 1961 to 1970.
Unemployment peaked in 1975 to 8.5%. But the planning and funding of upcoming construction in the latter years of this decade helped the Ironworker survive the deep recession that occurred in the 1980’s.
The following jobs were completed in this decade:
- 108 story Sears Tower
- 83 story Aon Center
- 74 story Water Tower Place
- 54 story Harbor Point
- 53 story Newberry Plaza
- 49 story Mid-Continent Plaza
- 47 story 330 North Wabash
- 44 story CNA Center
- 44 story 30 North LaSalle
Other Issues that we will hi-light with headlines in this decade that concerned citizens were:
- The Occupational Safety and Health Administration (OSHA) was created in 1970 to prevent work-related injuries.
- The Vietnam War continued until 1975 with the resistance building in the United States with the Kent State University shooting and The My Lai Massacre.
- President Nixon became the first and only U.S. President to resign after a scandal involving a break-in at the Democratic National Committee Headquarters.