Word: jobless
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...there were no job riots, no encampments of the unemployed in Washington, few loud calls for radical economic and social change. As the election year of 1976 opens, the AFL-CIO is calling for a damn-the-consequences drive to slash the jobless rate as rapidly as possible. It urges the Government to expand the money supply at whatever rate may be necessary, adopt whatever tax-and-spending policies seem called for, and even start direct public-hiring programs (the union federation does not say for what kind of jobs) to get the jobless rate down to 3% and keep...
does a far better job of taking care of its unemployed than it used to. Jobless benefits paid out during 1975 totaled about $20 billion; an unemployed worker with dependents can now collect up to $156 a week tax free for as long as 65 weeks, though the average payment is $71 a week...
...much of the public quiet probably reflects a puzzled awareness that the economy and the labor force are changing in such a way as to make the goal of "full employment" difficult even to define, let alone reach. Traditionally, a 4% jobless rate has been accepted as practical "full employment." That definition is now 20 years old; it is based on the fact that unemployment averaged 4.1% during 1956, a year in which the economy seemed to be showing balanced growth, at about its best long-range potential, with little inflation...
...third of the 8 million people counted as jobless in November had been out of work less than five weeks...
...economy as to raise demand to the point at which employers sign on almost anybody who shows up, with the Government hiring the residue, many in make-work jobs. A non-partisan study last May by the Library of Congress indicated that an attempt to get the overall jobless rate down to 3% within 18 months would push inflation back up to "a 12% to 13% annual rate" initially, and even more later on. One reason: long before employers hired the last ghetto black or unskilled high-schooler, severe shortages of skilled technical and professional workers would develop, leading...