Word: joblessness
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Dates: during 1970-1979
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...officials readily concede that their budget-cutting efforts may be in vain if the economy goes into a recession next year, as many private economists (though not the Administration's) are now predicting. As a rule, a rise of one percentage point in the jobless rate adds about $15 billion to the federal deficit because of increased welfare and unemployment payments and reduced tax revenues. But many groups believe federal spending reduction represents a much more immediate financial threat than recession, and they are already beginning to register protests. A group of black leaders sent an urgent message of "concern...
...economy has sufficient momentum to carry it to the beginning of the second quarter in 1979, but "then the country will have a tough row to hoe for the remainder of the year." Howell expects 2 million people to be added to the unemployment rolls, leading to a jobless rate of about 8% (compared with a high of 9.2% during the last recession). A. George Gols, an economist with Arthur D. Little, Inc., expects a recession that "only technicians will be able to define." There may not actually be two successive quarters of negative growth, he says. A quarter...
...American philosophy, is good. The skeptics ignore the reality that a slow-growth or no-growth philosophy could kill the promise of upward mobility. That may be acceptable to the middle-and upper-income people who dominate the antinuclear movement. But it would condemn the poor and the jobless to a perpetuation of their have-not status and could well endanger the future of American democracy, in which the social and economic inequalities of the free system are made tolerable by the hope of improvement...
...battle has become Topic A for consumer and Cabinet officer alike. As recently as March 8, when Miller was sworn in, Government policy was still focused on stimulating the economy to faster growth in order to bring down unemployment. That goal has been achieved, at an inflationary price; the jobless rate in June fell to a four-year low of 5.7%. Now the talk in Washington and the country is all of tight budgets, spending hold-downs and the long effort needed to bring prices under control...
...crew laborers. CETA funding has doubled during the Carter presidency, to more than $11 billion budgeted for fiscal 1979, and the number of jobs to be filled has leaped from 310,000 to 725,000. The program, however, is at best a stopgap substitute for welfare. It takes the jobless off the streets but does not prepare them for permanent employment. Says Bernard Anderson, an economist at the University of Pennsylvania's Wharton School: "Most of the money has been spent on Job Corps-type programs of scraping graffiti off telephone poles rather than skill-training for specific jobs...