Word: joblessness
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Dates: during 1980-1989
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Montenegrins have good reason for their discontent: 25% of workers are jobless, and one-sixth of the population lives below the poverty level. Supporters of Serbian leader Slobodan Milosevic hailed the resignations as a victory in their drive to change the constitution. Montenegrins identify very closely with the Serbians, considering them almost cousins. Montenegro's rebellion is expected to intensify economic unrest and rekindle tension between Serbia and the northern republics...
...effects of the summer drought are excluded. That level of growth, while not quite inflationary in normal times, is straining against a shortage of workers and factory capacity. Unemployment in the U.S. has remained at low levels, though the Government reported last week that the jobless rate for November inched up to 5.4%, compared with 5.3% the previous month. Factories were operating at 84% of total capacity, the highest level since February...
Story is far from alone. Robert Nieman, 40, is a former world champion in pentathlon, the sport that combines running, swimming, shooting, fencing and horseback riding. Jobless while training, he relies on "the fact that my wife has a very good job." Adds Nieman: "McDonald's gave us some free hamburgers. That's big time in pentathlon...
...Joblessness is at its lowest level since 1974. The Labor Department reported last week that the unemployment rate dropped to 5.3% in June, down from 5.6% the previous month. Barry Bosworth, an economist at the Brookings Institution, thinks the jobless level is approaching the threshold at which it begins to spur wage and price increases. Says he: "I like an unemployment rate of 5.3%, but if it goes below 5%, then I would be concerned." Yet other economists think the work force can readily accommodate the scattered shortages. Says Beryl Sprinkel, chairman of the President's Council of Economic Advisers...
...along Route 128, near Boston. The explosive expansion in the demand for labor has far exceeded the region's growth in supply. In Massachusetts, for example, the number of jobs grew 11.6% between 1980 and 1986, while the population increased only 1.7%. Other shorthanded states range from South Dakota (jobless rate: 2.7%) to Hawaii (2.9%) to North Carolina...