Word: joblessly
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Despite the spreading upswing, however, Western Europe continues to suffer from high unemployment. The jobless rate is expected to remain at 10% in 1984 and decline next year by a mere half a percentage point. Michael Emerson, Chief Forecaster for the Commission of the European Communities and a guest at last week's meeting, noted that Europe's "non-performance" in creating new jobs was becoming dramatic. Emerson said that the rigidity of the European labor market, where unions are strong enough to make layoffs extremely difficult, have raised real wage costs over the past ten years...
...will fall even further, to 5.5% in 1985. Businessmen are once again investing, encouraged by incentive measures from a government that has rediscovered the virtues of the private enterprise system. Like its neighbors, France is exporting more. But, again, in France unemployment remains a problem. The number of jobless will reach 2.5 million this year, or 10% of the work force, and rise...
HELP WANTED. Those welcome words continue to blossom around the U.S. at a pace so fast that even optimistic forecasters are stunned. Most economists expected the jobless rate to fall to about 7% by next year. But what they cautiously predicted has already come to pass. Last week the Labor Department announced that civilian unemployment fell from 7.5% in May to 7.1% in June, its lowest level in more than four years. Since November 1982, when unemployment hit a postwar peak of 10.7%, the brisk economic recovery has created at least 6.5 million jobs. A record 105.7 million Americans...
Black teenagers, whose unemployment rate continues to hover at an intolerably high 40% to 50%, about triple that of their white counterparts, have gained little from the outpouring of jobs. To raise jobless youths' chances of finding work, the Administration has submitted a controversial bill creating a teen-age minimum wage of $2.50 an hour during summertime. The measure has been bitterly attacked by unions, who fear that it would undermine the current $3.35-an-hour rate. Says AFL-CIO Chief Economist Rudy Oswald: "We believe people should be paid for their work, not for their...
...nearly a generation, many West European countries enjoyed very low unemployment. While the jobless rate in the U.S. was seldom less than 4%, the countries of the European Community and Scandinavia had just 2% to 3% unemployment. But since the first oil-price shock in 1973 all that has changed. During the '70s about 20 million new American jobs were created in high-tech fields and service industries. Yet in Europe total employment in 1983 was less than it was in 1973, and unemployment is now above 10% in several countries...