Word: joblessly
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Greenspan's appointment would come at a time when the CEA's reputation among Economists and Congressmen is at an alltime low. Created under the 1946 Employment Act in part to provide the President with the best professional advice on reducing the jobless rate, the council has had its share of controversy. For example, Congress became so antagonized by CEA Chief Leon Keyserling's partisan support of Truman Administration policies that President Eisenhower let the council go out of business briefly...
...economy, coupled with pressure for equal opportunity, provided openings for a larger number of black workers. But when the economy soured last year, the old 2-to-1 ratio reappeared. The current unemployment rates are 9.5% for blacks and 4.7% for whites. One-third of black teen-agers are jobless, which is more than double the rate for white teenagers...
With a planning-grant from the Ford Foundation, Horner added para-professional training--as a safeguard for women who could might go jobless in an economic crunch--to the institute's programs. She said in January, "I'm becoming an economic pessimist. I worry that in a no-growth economy we are encouraging women into positions that won't be there. The recession could backfire on women, and we must be prepared for that. The worst thing that could happen is that women who have trained for a career will come out of school only to bump their heads against...
...buying enough goods and services to prop demand and prices up for a long time. Frightened by the rise in the jobless rate, governments then throw the policy into reverse and pump out enough money to initiate expansion again?at a higher base rate of price increases than prevailed at the start. These stop-go policies interrupt growth, and to make up the production losses incurred in the slow phase, governments run ever larger inflationary deficits and accelerate increases in money supply. In the U.S., the avowedly conservative Nixon presidency has piled up cumulative deficits of about $120 billion...
...other extreme, some economists argue for "putting the economy through the wringer"?depressing demand enough to bring prices down, at whatever cost in unemployment. That is no answer at all; in the U.S., a 12% to 13% jobless rate for up to a year might be required to bring inflation down to an annual pace of about 2%, and the human suffering caused would be greater than...