Word: jobless
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...change, economists got a pleasant surprise last week. They had been bracing themselves for a February unemployment rate of 8% or higher, since the Government collected its jobless figures in mid-month, when layoffs forced by cold weather and energy shortages were at their peak. Instead, the jobless rate was 7.5%, only slightly higher than 7.3% in January-a powerful indication that the economic recovery retained its underlying strength through the bitter winter. About 225,000 workers were laid off in February because of the cold, and another 220,000 were forced onto short weeks. Still, the number of people...
Using the license available to a lame-duck Administration, the Ford CEA report acknowledged a politically touchy and therefore long-ignored reality: "full employment" no longer means a jobless rate of 4%, the level generally accepted in the '50s and early '60s. The Ford report pegs it at 4.9%. Many economists suggest that it should be even higher, perhaps as much...
...jobless rate for black youths was 45.5 per cent. It declined to 29.1 per cent in 1970, but jumped to 38 per cent...
...Unemployment will average 7.3% during 1977 but dip to 6.9% by the fourth quarter. That would mark a reduction of only about a point in the current jobless rate. The actual number of unemployed Americans, currently 7.8 million, might not go down at all, particularly if women and young blacks continue to enter the labor market at this year's high rate...
...real G.N.P. fell to 4.5% in the second quarter, to 3.8% in the third, and is expected to be only about 3% this quarter. Unemployment bottomed out at 7.3% in May and then began rising once more. One measure of the setback: at midyear, economists believed that the jobless rate would fall below 7% by year's end. It now seems unlikely to get that low until a full year later−if then...