Word: joblessness
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Dates: during 1980-1989
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...touch. Though inevitably some were born of boondoggling and hornswoggling in the give and take of American politics, most federal programs were conceived with the best of intentions, created to advance goals on which much of America agreed. To feed the hungry. To heal the sick. To train the jobless. To enable the nation's youth to go to college. To help American business compete abroad. To further the arts. To preserve the family farm. But whether misused or effective, each contributed to an ever growing cascade of federal largesse that the nation can no longer afford. TIME correspondents...
...Erie will receive $5 million from CETA -a welcome transfusion for a decaying industrial city that is hemorrhaging jobs. The unemployment rate in Erie now hovers at 9.5%, against a nationwide rate of 7.4%. The Holiday Meat Packing Co. closed its doors for good two weeks ago, leaving 230 jobless; the Continental Rubber Works, which employs 320, will shut down soon...
Nationwide the figures are even more astounding. In 1964 the Federal Government spent $1.8 million on food stamps. This year, with some 21 million Americans getting aid, the cost is $11 billion. The number of recipients leaps by as much as 750,000 each time the jobless rate goes up a percentage point...
...sluggish economy will be bac news for those looking for a new job. The board believes that unemployment will rise from its current level of 7.4% to 8% by midyear before dropping back to 7.8% at the end of 1981. That will leave about 8 million people jobless for most of this year...
...growth in 1978-79 to a negative 3% for 1979-80. Some 10,000 businesses went bankrupt, a record. Unemployment climbed by a phenomenal 66% in 1980 ?and 86% since Thatcher took office. In the manufacturing regions of the north, 14.8% of the male work force is jobless. Meanwhile, the government has been unable either to control the money supply or control public spending, the two keystones of its monetarist policy. The budgetary deficit for fiscal 1980-81 was first forecast at $20 billion, then revised last November to $27 billion. Now government sources expect the deficit to exceed...