Word: jobless
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...that Washington is not yet vigorously pursuing; right now all the pressures are to add a billion here and there. Nonetheless, there are ideas, of widely varying reasonableness. Some conservatives would shrink foreign aid, welfare, Social Security benefits. Alan Greenspan suggests reducing expenditures for public service employment of the jobless, a most dubious economy. Rudolph Penner, director of tax policy studies of the American Enterprise Institute, a conservative think tank, more sensibly would pare the roughly $68 billion in federal grants-in-aid to state and local governments, many of which are now running budget surpluses...
...some work for freelancers. It is usually cheaper to rely on them than to maintain stables of salaried staff writers. But the number of contributors is outstripping the growth-and quality-of the market. Everybody seems to be freelancing: housewives, public relations men, professors, reporters, the growing army of jobless journalism graduates. Circulation of Writer's Digest, a how-to monthly for such dining-table dilettantes, has leaped by 17% in the past year and a half...
...year since World War II. But department officials also explained that the December drop in unemployment is not as big as it looks. Reason: the Government recalculated unemployment figures for all of 1977, using new data to adjust for seasonal fluctuations. The department now estimates that the jobless rate hit a high of 7.6% last February-not 7.5%, as it believed at the time -and then declined gradually through the summer and fall. For example, the department reported the November rate to be 6.9%, but now thinks it was only...
Some outside economists doubt that the Government's calculations are right even now. Otto Eckstein, a member of TIME'S Board of Economists, questions whether the December jobless rate was really only 6.4% and believes it was "physically impossible" for 1.3 million new jobs to be created in November and December, which is what the Administration says happened. But even Eckstein concedes that unemployment is indeed coming down, and President Carter naturally hailed the news with delight. He cautioned, though, that the nation still needs the tax cut of $25 billion a year that he will propose...
...member countries, the organization predicts a composite growth rate of 3.5%, the same as 1977, and a jobless rate of 5.5%, up nearly one-half of 1% from 1977. Worst of all, it warns that the pattern of slow growth and high unemployment could become permanent for the world's industrial democracies, especially if governments throw up more protectionist barriers to trade in an attempt to save jobs...