Word: jobless
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...battle has become Topic A for consumer and Cabinet officer alike. As recently as March 8, when Miller was sworn in, Government policy was still focused on stimulating the economy to faster growth in order to bring down unemployment. That goal has been achieved, at an inflationary price; the jobless rate in June fell to a four-year low of 5.7%. Now the talk in Washington and the country is all of tight budgets, spending hold-downs and the long effort needed to bring prices under control...
...best of times -for people who have marketable skills. Before long they should be able to pick and choose among high-bidding employers. For just about everybody else, it is . . . well, hardly the worst of times, but at least a moment for worry. The unskilled jobless, especially if they are young and/or black, can expect little help from any further surge in business, unless job-training programs are expanded. And the nation as a whole is either at or nearing the danger point where a little bit less unemployment means a whole lot more inflation-which would hurt the jobless...
...full employment," an increasingly misleading term that is taken to mean the point at which further demand for workers sets off an inflationary wage explosion. Henry Wallich, a governor of the Federal Reserve, insists that the U.S. is already at full employment, even with a jobless rate of 6%. Liberal economists put the trigger point at 5½% or less, meaning that there is still some safety margin, but not much...
Meanwhile, 6 million would-be workers-nearly all unskilled, and disproportionately concentrated among the young and black-remain jobless. What can be done for them? The answer decidedly is not to pump up the whole economy with more federal spending, bigger tax cuts or a faster rise in the money supply. That would only set off a further competition among employers to hire the skilled at inflationary wages...
...crew laborers. CETA funding has doubled during the Carter presidency, to more than $11 billion budgeted for fiscal 1979, and the number of jobs to be filled has leaped from 310,000 to 725,000. The program, however, is at best a stopgap substitute for welfare. It takes the jobless off the streets but does not prepare them for permanent employment. Says Bernard Anderson, an economist at the University of Pennsylvania's Wharton School: "Most of the money has been spent on Job Corps-type programs of scraping graffiti off telephone poles rather than skill-training for specific jobs...