Word: joblessly
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...frightening new evidence of economic deterioration was surfacing. The Labor Department reported still another disturbing jump in the nation's unemployment, from 6.5% in November to 7.1% in December. Worst off were blue-collar workers: their unemployment rate leaped 1.2% in December, to a painful 9.4%. The overall jobless level was the highest since 1961 -and one that Administration economists until recently did not expect to see before this spring. All told, 6.5 million Americans were out of work at the beginning of the new year, the largest number since 1940. In a statement that seemed intended to prepare...
...turn toward more stimulus of the economy unavoidable. As car sales continued to skid, Detroit announced plans for more production cutbacks; that will add substantially to the 205,000 auto workers -about 25% of the auto-industry labor force-already idled and further bloat the nation's jobless rate, which is expected to swell to as much as 8% next year from its present 6.5%. According to a forecast issued by the Paris-based Organization of Economic Cooperation and Development last week, the U.S. will be the "most depressed" of the world's major industrialized nations next year...
UNEMPLOYMENT: The November jobless rate of 6.5% does not reflect the full impact of the coal strike nor the most recent, and continuing, wave of layoffs in auto, appliance and other industries. There is a likelihood that the jobless rate will hit 7% even before the end of 1974, and that it will continue climbing to a peak that members of the Board of Economists estimate at anywhere from 7½% to 8% or even 8¼% (the postwar high was 7.9% during the 1948-49 recession). Moreover, that peak will be reached late in 1975; just as employers...
...exports have stagnated, unemployment has ballooned. Since September, the number of jobless has jumped a frightening 44%. The total count of people out of work (almost 800,000, or 3.5% of the labor force) is still small...
...made unemployment one of the nation's most sensitive subjects, and the outlook is growing more gloomy every day. Indeed, the government's five top economic advisers predict that unemployment will climb to 1 million or more by January or February; that would be the highest winter jobless total in 17 years. Equally worrisome is inflation, which is currently running at an annual rate...