Word: joblessness
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Dates: during 1970-1979
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Millions of jobless young people between 16 and 24 roam the streets of major U.S., Canadian and European cities, looking for work by day and cramming into bars, beer halls, sleazy pubs and pool rooms at night. "Hanging around" has become an occupation in itself, a dreary, unstructured existence with little money and even less fun. There is talk of sex, sports and cars, as usual, but the main preoccupation is with the hopeless job market and what governments are doing to stimulate employment. Those attempts range from President Carter's proposed $1.5 billion expansion of current youth employment...
...Room for Guests. In some countries, more youths than ever are seeking work. According to the latest figures for the nine Common Market nations in Western Europe, there are about 1.8 million jobless youths; they make up 37% of all unemployed in the region. In Britain, more than 500,000 young people are out of work, equal to 35% of all the unemployed. French youths account for 37.6% of the jobless. West Germany's youthful unemployment of 24.8% of those out of work is the lowest in Europe, but that contrasts with conditions three years ago when Germany...
Some U.S. critics feel that youth joblessness is healthy to a certain extent, a time of discovery, of winnowing, a "natural process of settling permanently into the job market," as Harvard's Freeman says. There is widespread agreement that U.S. jobless youths do not feel permanently shut out of the economic system, as do many of their counterparts in Europe, nor do most of them feel alienated from the work ethic. Thousands of New York City youths stood in line overnight last month to sign up for federally funded summer jobs. As M.I.T. Economist Michael Piore puts...
...thus the credit is of little use to the biggest companies that hire the most workers. Indeed, the Administration estimates that the credit will help employers of only about a third of the nation's labor force-not enough to make a substantial dent in the jobless rate...
...House-Senate conference committee approved a bill that, among other things, would appropriate $9.3 billion for job-creating programs, including public service employment and youth-training plans. That still leaves the question of whether what is left of the stimulus program is enough to cut the nation's jobless rate below 7%. Administration policymakers insist that it will. But if the economy does keep recovering it will be as a result of its own vitality rather than of any major prod from Washington...