Word: jobless
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Dates: during 1960-1969
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Other Policies. The price of any slowdown, if it comes, would be some job layoffs, with ghetto dwellers among the first to suffer. Though that prospect is filled with obvious political and social perils, the current jobless rate-a 15-year low of 3.3% in December and January-gives the Nixon Administration some room for maneuver. So does the fact that a number of companies are "stockpiling" workers because of the shortage of skills, and may be inclined to hang onto them as long as possible, even if that means some short-term loss of profits. The White House nonetheless...
...member of the seven-man Federal Reserve Board. Citing a study by the board's staff, Brimmer said that even if the nation's real economic growth slowed to practically nothing for one or two quarters, the result would be only a 0.2% rise in the jobless rate, now at a 15-year low of 3.3%. The findings reinforce the belief that the Nixon Administration will have a bit of leeway in which to move against wage-price rises without causing a significant increase in unemployment. But Brimmer and the other Federal Reserve governors believe that "some increase...
...week the Department of Housing and Urban Development gave the first operating grant -$19 million to Seattle-under the Model Cities program, which was enacted in 1966. Twenty other grants are anticipated this month. Similarly, the Labor and Defense Departments last month expanded their Concentrated Employment Program, which trains jobless men for posts on military installations. On all such spending programs, Nixon has indicated that he intends to conduct a full review...
...private businessmen who hire and train the hard-core unemployed. Though many businessmen still doubt whether they can do more than dent the problem, the National Alliance of Businessmen this year got off to a good start by persuading 12,000 employers to hire 84,000 hard-core jobless people and to train many of them for productive work...
...utilization of adjustments in the money supply to stimulate or restrain the economy. One of his thorniest economic problems, of course, will be inflation. Any concerted drive to stop the price spiral would involve deflationary steps that could increase unemployment. McCracken would probably be willing to see the jobless rate rise slightly above the current 3.6% in order to cool the feverish economy. But he is unlikely to tolerate the 5%-plus rate that some economists and businessmen think is nec essary. In a recent speech, he noted that the people hurt most by job cutbacks would be impoverished Americans...