Word: joblessness
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Dates: during 1970-1979
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...jobless rate for black youths was 45.5 per cent. It declined to 29.1 per cent in 1970, but jumped to 38 per cent...
...Maryland (Ph.D., 1960). During a brief stint as an associate professor at Indiana University in 1959-61, he originated the concept that the economic impact of the federal budget is best gauged by what the surplus or deficit would be if the economy were operating at a 4% jobless rate, which most economists then regarded as full employment. A few years later, the "full employment" budget became a key element in the Kennedy and Johnson Administrations' fiscal policies. Schultze became Assistant Director of the Budget Bureau in 1962, Director...
...Unemployment will average 7.3% during 1977 but dip to 6.9% by the fourth quarter. That would mark a reduction of only about a point in the current jobless rate. The actual number of unemployed Americans, currently 7.8 million, might not go down at all, particularly if women and young blacks continue to enter the labor market at this year's high rate...
...real G.N.P. fell to 4.5% in the second quarter, to 3.8% in the third, and is expected to be only about 3% this quarter. Unemployment bottomed out at 7.3% in May and then began rising once more. One measure of the setback: at midyear, economists believed that the jobless rate would fall below 7% by year's end. It now seems unlikely to get that low until a full year later−if then...
...that the only pledge that Carter might be hard put to fulfill. In November, Carter promised to reduce the unemployment rate by 1.5 percentage points, indicating a jobless rate of about 6.4% by the end of next year. Last week, however, OMB Director-designate Lance said the goal would be "very, very difficult" to meet because the unemployment rate has risen to 8.1%. Some analysts are now talking of a 7.1% jobless rate by the end of 1977, but Carter later said he was sticking to his original promise. Concerning another pledge, Carter has not decided whether to broaden...