Word: gain
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Dates: during 1960-1969
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...Historians sometimes define the Dark Ages as 600 years of falling prices. The trick is to limit the price rises to about 2% a year or less, as was the case from 1960 through 1965. Over the last twelve months, however, consumer prices have jumped 4.3%, the greatest annual gain since the Korean War year of 1951. During October, the latest month for which statistics have been compiled, consumer prices rose at a frantic 7.2% annual rate. While the nation's output of goods and services climbed 8.7% to a record of $860 billion for the year, almost half...
...around to enacting the surtax at midyear, much of its effect was washed away by another big factor. While taxes went up, wages went up much faster. During the year's first nine months, about 3,400,000 unionized workers won pay raises averaging 7.5% annually, the largest gain since the Labor Department started keeping track 14 years ago. For the year as a whole, wages and benefits rose about 7%, while productivity increased only 3.2%. The result was that so-called unit labor costs jumped 3.8% -and the consumer had to pay for the jump...
Even so, Walter Heller and other eminent economists maintain that inflation will continue to plague the U.S. for years to come. The task for 1969 is to gain stability without losing much of the very real progress of the past eight years. As former Eisenhower Economist Raymond J. Saulnier notes: "A stabilization program always risks recession...
Nixon was so eager to recruit Jackson that he was willing to forego the gain of a Senate seat. Jackson, however, was advised by fellow Democrats that he would be foolish to surrender 16 years of seniority for the politically hazardous post of Defense Secretary, where he could become a lightning rod for criticism from his own party. Jackson withdrew a week before Nixon wanted to announce the Cabinet...
...example, have been ordered to take over administration of schools demoralized by the deportations, thus cutting into industrial production. So far, these workers have not had much success in reorganizing schools along Maoist lines, largely because the new order has so far not been spelled out. In the bar gain, they find themselves grappling with Red Guard remnants who are reluctant to join the move to the countryside...