Word: jobless
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UNCLE SAM is sick. He has a bad case of "depressionitis." He has a pain in his economy and he has jobless fever and chills. The dangerous germ that has brought Uncle Sam to bed is the neglect of the family farm...
...figure since the war. Lorain, Ohio, where U.S. Steel laid off 3,500 of its 11,000-man National Tube Division, is also in deep recession. Peoria, Ill., where Caterpillar Tractor Co. laid off 6,000 of its 23,000 men, is getting ready to dispense free groceries to jobless workers. But in bigger, more diversified cities such as Chicago, Toledo and Cleveland, retail sales, housing and other economic indicators show little serious decline...
Beef & Macy's. Everyone expects the U.S. consumer to start buying more of everything soon. Purchasing power has been held up by unemployment compensation and other benefits. Furthermore, despite the jobless rise, overall U.S. employment remains high. Some 50% of the unemployment rise is in manufacturing industries (autos, aircraft), which employ only 23% of the total labor force. The service industries, which employ 35%, show no recession, have held remarkably steady, with little or no change over the last three months...
...over a year ago, and gross sales up more than 14%. But both production and exports were down from December, although much of the drop was seasonal. Unemployment is up slightly (to 1,432,000). The building industry, crimped by tight money, accounted for 70% of the jobless rise. Prices are easing in the textile, clothing and construction industries, but most German economists expect prices and wages to remain steady. ¶France, traditionally slow to react to economic fluctuations in the rest of the world, is still fighting inflation. While production is increasing at a rate of 9% annually, prices...
...news had its compensations. The increase in unemployment compensation was big partly because 7,000,000 more workers now have the protection of jobless pay than in the 1954 recession. Likewise, inventory liquidation will allow a swifter increase in production later...