Word: jobless
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...jobless toll is expected to grow for several more months, probably topping 9%. It will stay high for the foreseeable future, even long after the economy turns up. The Ford Administration's 1976 budget projects that unemployment will average 7.9% next year and 7.5% in 1977 and that it will not dip below 6% until...
...cutbacks; of those questioned, 30% said that they or a family member had been laid off, 9% had lost overtime and 13% had had their working hours reduced. Police blame unemployment for a recent jump in robberies and purse snatchings; many of the culprits who have been caught are jobless first-time offenders. Calling last week for more federal funds to create summer jobs for restless youth, New York City Mayor Abe Beame said: "The social toll of this kind of unwilling idleness among our young people could be devastating...
...than a recession. As recently as August, unemployment was 5.4%. Lately it has risen in frightening leaps -to 7.2% in December and 8.2% in January. The rate was again 8.2% in February, the Labor Department reported last week, but the real situation had worsened. Total employment fell sharply. The jobless rate held stable only because so many people despaired of finding a job that they simply dropped out of the labor force. In all, 580,000 people left the work force, and total employment declined by 540,000, to a seasonally adjusted 84 million. But 7.5 million Americans...
...course, the situation is quite unlike the apple-selling days of the Great Depression, when one in every four workers was desperately, hopelessly unemployed and practically no safety nets protected them. Today, 6 million of the jobless are collecting unemployment compensation. The payments are made for up to 52 weeks. The states pay for the first 26 weeks, raising the money by taxing employers; the states and the Federal Government share the costs for the next 13 weeks, and Washington finances the final 13 weeks. The amount of the payments and the eligibility for them vary from state to state...
...together, 1.5 million of the jobless are ineligible for unemployment compensation. Among them: self-employed people who have not contributed to unemployment compensation funds; people who have not held steady jobs for the past year, including recent college graduates; people who quit jobs without good cause; workers who have already used up their 52 weeks of unemployment compensation...