Word: jobless
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...dismal economic news. In his budget message to Congress (see ECONOMY & BUSINESS), President Ford revealed that high rates of inflation and unemployment would last well into 1976, when he plans to run for election. Prices, he acknowledged, would still be rising more than 7% a year, and the jobless rate would still hover around 7¾%. The figures jolted both parties. Senator Hubert Humphrey found it "unbelievable" that Ford could propose record deficits and not "put America back to work." Calling political prospects "pretty scary," G.O.P. Senator Robert Dole, who barely won re-election in Kansas last fall amid...
...jobless figure hit a confused and querulous American public just as it was trying to grasp the implications of one of the most astonishing budgets ever prepared by any postwar Administration. A conservative Republican President, who had been talking of a tax surcharge and preaching a balanced budget as recently as November, was now proposing tax cuts totaling $16 billion this year and a record peacetime deficit of $52 billion in the fiscal year that begins this July. Even more remarkable, given the general optimism of past Ford Administration pronouncements on the economy, was the grim and brutally candid...
Thus it can serve as a guide as to how much stimulus might be needed to spur a sluggish economy. The greater the budget surplus is by this measurement, the more the economy is reined in and deflated. Yet, notes Nathan, while the jobless rate will continue to hover at unacceptably high rates, the Administration estimates that the full-employment surpluses will be large and sharply rising: $12 billion in fiscal 1976, $29 billion in 1977, $33 billion in 1978, $45 billion in 1979, $61 billion...
Since 1958, when the Bureau of Labor Statistics first tracked unemployment by occupational categories, the jobless rate for managers and administrators had exceeded 2% only once (in 1961) until late last year. Then it shot up to 2.6% in December and 3.3% last month. Compared with the overall national unemployment rate, these figures seem low. But while total unemployment between December 1973 and December 1974 rose by 48%, from 4.4 million to 6.5 million, unemployment among managers and administrators jumped by 85%, from 125,000 to 231,000. That was a sharper increase than for any other white-collar occupational...
...Jobless managers aged 40 or over have been seeking help from a nonprofit organization called Forty Plus that has branches in eleven cities. Staffed and directed entirely by volunteers, the organization keeps lists of the "right people" to contact at local companies and instructs new members in job-interview tactics and in the art of writing a competent resume. Some resume tips: eliminate all references to age-including college class and dates of employment-and stress accomplishment in describing previous jobs rather than simply listing the job title...