Word: joblessness
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Dates: during 1970-1979
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...parts plant outside the Welsh capital of Cardiff. With unemployment at a postwar record of 1.5 million (6.4%), any further increase could jeopardize the government's wage-control agreements with organized labor. Len Murray, Britain's top union leader, warned last week that unless the jobless rate was quickly cut, there would be "a rapid growth of support for radical changes in the government's policies," a threat that could come true next month when Britain's powerful Trades Union Congress holds its annual meeting in Brighton...
...nation's unemployment rate took a disquieting jump in July, rising to 7.8% from 7.5% in June. The jobless figure, reported by the Commerce Department last week, is the highest since January and is certain to add new urgency to the growing unemployment issue in this year's presidential race...
...main cause of the July rise: though 400,000 new jobs were created during the month, 700,000 job seekers, or about three times the normal number, entered the job market. The majority of new job seekers were adult females; their jobless rate went from 7.1% to 7.6%. The unemployment increase also reflected the tapering off of economic growth in recent months; joblessness among heads of households climbed to 5.4% from 5.1%. Nonetheless, Administration officials are still holding to their goal of reducing unemployment to 7% by the end of the year...
...TIME Board of Economists, warns that the production capabilities of a number of important basic industries, including chemicals and paper, are so limited that they could create bottlenecks that would impede the U.S. from cutting its unemployment rate much below 6% in the immediate future. Such a high jobless level means increasing welfare rolls and social unrest...
...Swiss kept the jobless rate so low by concentrating layoffs among migrant workers. Some 110,000 migrants, mostly Italians, went home last year. "To put it crudely, our unemployment is being felt in Italy," says Hans Mast, economic adviser to Credit Suisse, a big bank. Switzerland's strengthened trade position, in the view of government financial officials, is a fluke attributable to the recession. Exports fell 5.4% in 1975, but imports dropped 20%. In order to keep their markets, many exporters had to cut prices, thus reducing their profits...