Word: joblessness
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Dates: during 1970-1979
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...much below 5% or 5½% without reigniting inflation. Thus, to reach his goal of 4½% unemployment and create jobs for roughly 1 million unemployed people, Carter would push selective Government job programs-subsidies for companies to hire the unemployed, a plan like the old CCC to put jobless youths to work on urban clean-up and build-up projects, and the like. He argues that the programs would ultimately pay for themselves by getting people off the dole and turning them into productive taxpayers. Remembering that such schemes did not dent unemployment much during the 1960s, some...
...that is based on some debatable assumptions. Is unemployment really so severe? It is concentrated largely among women and teenagers, who are not primary breadwinners, and only 5.4% of the heads of households are jobless. Are the factories really so underused? There is some concern about the re-emergence of production bottlenecks in several industries, notably paper, petrochemicals and steel. Is demand really so low? It certainly has contributed to price rises...
...hard facts are that unemployment is steep by any measure and that the jobless rate among heads of households is twice as high as in late 1973, when the recession began. The Federal Reserve Board calculates that U.S. manufacturing industries are running at 73% of capacity, down from 83% in 1973; the industrial production index did not rise at all in September...
Unemployment is no longer the national trauma it once was-and, in large measure, Jerry Ford can thank the New Deal for that improvement. The Social Security Act of 1935 and subsequent social legislation so greatly extended the jobless benefits that most out-of-work Americans now collect tax-free income for up to 65 weeks, averaging from $48.15 weekly in Mississippi to $95.56 in the District of Columbia. In fiscal 1976 the average payment was $71.85 weekly, and more than 10 million people collected jobless checks at one time or another. Add food stamps, welfare, union unemployment benefits (which...
...months of Ford's presidency, some economists argue that the unemployment picture is not as dismally gray as Jimmy Carter paints it. Moreover, the U.S. lists as unemployed some people-for example, full-time students looking for part-time work-who would not be counted as jobless in other industrial countries...