Word: jobless
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...move will leave about 500 of the plant's 650 workers jobless...
...most important distinctions in reporting growth, inflation or jobless trends is whether they are calculated "year over year" or "fourth quarter to fourth quarter." The difference can be substantial. Say that the economy rises fast during one year but is absolutely flat the next year. Even so, the averages would show a fairly strong year-over-year rise...
...officials readily concede that their budget-cutting efforts may be in vain if the economy goes into a recession next year, as many private economists (though not the Administration's) are now predicting. As a rule, a rise of one percentage point in the jobless rate adds about $15 billion to the federal deficit because of increased welfare and unemployment payments and reduced tax revenues. But many groups believe federal spending reduction represents a much more immediate financial threat than recession, and they are already beginning to register protests. A group of black leaders sent an urgent message of "concern...
...economy has sufficient momentum to carry it to the beginning of the second quarter in 1979, but "then the country will have a tough row to hoe for the remainder of the year." Howell expects 2 million people to be added to the unemployment rolls, leading to a jobless rate of about 8% (compared with a high of 9.2% during the last recession). A. George Gols, an economist with Arthur D. Little, Inc., expects a recession that "only technicians will be able to define." There may not actually be two successive quarters of negative growth, he says. A quarter...
...American philosophy, is good. The skeptics ignore the reality that a slow-growth or no-growth philosophy could kill the promise of upward mobility. That may be acceptable to the middle-and upper-income people who dominate the antinuclear movement. But it would condemn the poor and the jobless to a perpetuation of their have-not status and could well endanger the future of American democracy, in which the social and economic inequalities of the free system are made tolerable by the hope of improvement...