Word: jobless
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...jobless rate takes its biggest plunge in 24 years...
Moreover, as Reagan pointed out during a White House lunch with Hispanic leaders, joblessness "went down in every category, every group you could name." In fact, those people who had experienced the greatest difficulty finding jobs made some of the most striking gains. Feldstein noted that "the number of people out of work for 27 weeks or longer fell by 360,000, or more than 10%." A Labor Department statement added, "This was the first real decline in this very long-term jobless category in two years...
...made his statement, they too feared reprisals, so they suppressed these bad thoughts and publically proclaimed a celebration. A leading member of the Senate howled. "We've licked the recession, "We've licked inflation...now we've got unemployment on the run." Even the normally cynical media concurred. "U.S. Jobless Rate Plunges a Half-Point to 9.5%," one headline screamed. Another paper said that "economic recovery [is] apparently gaining strength...
...approval of some increases may still get disconnected in Congress, where many legislators fear high local rates could make phone service too expensive for the elderly and the jobless. A bill proposed in the Senate by Republican Robert Packwood of Oregon and in the House by Democrat John Dingell of Michigan would nullify the FCC action and place surcharges on long-distance phone companies in order to restore some subsidies for local rates. The legislation, which would eliminate the FCC's planned extra charges, has solid support. Politicians know that as soon as phone bills back home jump, phones...
...large corporations found that fully 70% participated in some kind of summer-employment project last year. "Summer jobs are not charity," asserts George Weissman, chairman of Philip Morris Inc. and head of the Summer Jobs '83 program in New York City, where there are about 250,000 jobless teen-agers (40% of whom are blacks or Hispanics). "Unemployment is bad for business-more jobs mean greater consumer purchasing power." The New York program has already placed 11,000 low-income youngsters in large firms like the Metropolitan Life Insurance Co. Similar private programs are thriving in cities as economically...