Word: jobless
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...worst consequence: the jobless rate, now 8.9% of the work force, will go on rising for a few more months and will come down slowly after that. Most board members expect a peak of about 9.5%. Robert Nathan guesses that it could hit 10%-and predicts that the unemployment rate will not go below 8% any time next year. Other board members are slightly more optimistic; Otto Eckstein forecasts a jobless rate of 7.7% by the end of 1976. Even that would mean that after a year and a half of recovery, the unemployment rate would be as severe...
...rather ridiculous grounds that among other things, Government officials had not issued a statement on the program's impact on the U.S. environment. Chicago Civil Rights Leader Jesse Jackson said that the refugees should be kept out of the U.S. because "there are now nearly 9 million jobless in this nation...
...Shelton, the news of the indictments was small comfort. The unemployment rate in town is a high 14%, and nearly 300 of the people left jobless by the bombing are still out of work. It is likely that Sponge Rubber Products will fold altogether, bad news for the 600 people working at its three other plants still operating in the area. Says Lloyd Witmer, an aide to Shelton's mayor: "You hear comments like 'So they caught the people who did it, so now they'll bring them to trial. But what does that...
...swelling because businessmen can more easily and inexpensively raise output by working their current employees for longer hours than by recalling laid-off people. At best, it will take a year or more of the strongest recovery to return to the pre-recession highs reached in late 1973. The jobless rate, now 8.7%, is almost sure to rise above 9% and even by late 1976 it may well dwindle only...
...Housing, one of the recession's most severely hurt victims, continued to limp along in March; the number of housing starts dropped slightly below February levels to the appallingly low annual rate of 980,000. In California alone, 23% of the labor force in the construction industry is jobless. Housing executives hope that the new federal tax credit of up to $2,000 for buyers of new homes will eventually generate some business. Also, since a record influx of funds continues to pile up in savings institutions, mortgage money is becoming more plentiful and interest rates are going down...