Word: joblessness
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Dates: during 2000-2009
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...Half an hour away in the city of Baucau, Domingos Ximenes is on security detail at a compound that houses about 200 of his fellow ex-guerrillas. Most of them are jobless and live here in a crumbling, white building with boarded windows and a high fence topped with barbed wire. Ximenes had gone back to his wife and child in the town of Laga, east of Baucau, but was told they couldn't afford to support him. With nowhere else to go, he went to the compound, which at least provides shelter for displaced former fighters like...
...ruling Social Democrats, Sommer warned there was a "danger" that the unions would break with the Chancellor if it wasn't possible to find "clean compromises." But while the players bicker, Germany's projected growth rate for 2003 has been revised down to a mere 0.75%; the number of jobless has swelled to 4.5 million; tax revenues are estimated to be €9 billion less than forecast; and harassed Finance Minister Hans Eichel recently admitted that, for the second year running, Germany would fail to keep its budget deficit below the 3% threshold required for the euro - and he wouldn...
...economic news continues to be pretty bleak. Jobless claims rose to their highest levels in a year last Thursday, marking their 10th straight week above 400,000. In recent weeks, cash-strapped states and cities across the country have announced new taxes and painful spending cuts for police, schools and other government services. And despite the war's end and the gradual restoration of order in Baghdad, the Dow has not spiked as some had hoped. Though there are flecks of good news, such as an unexpected rise in purchases of big-ticket items, the grumpy economy is still Bush...
...look forward to better economic times soon. Already, oil prices have plunged and the stock market has rallied. Despite all the anxiety over the war, retail sales surged 2.1% in March, and the University of Michigan's consumer-sentiment index rose in early April to 83.2, from 77.6. Initial jobless claims have edged lower, indicating that layoffs may be decelerating. The lowest interest rates in four decades are spurring a new round of mortgage refinancing that is leaving hundreds of dollars more in consumers' pockets each month. And as Harkness attests, the war's end should free pent-up business...
...White House hopes the latest bad economic news--a surge in jobless claims and more indications of businesses cutting back--will give a boost to Bush's $726 billion tax-cut proposal, which the Senate voted to slice in half two weeks ago. Asked if the President still hoped to get his tax cut passed in full, a senior Administration official replied confidently, "Fifty miles to Baghdad." Translation: After the war, the chances could improve. In private, though, Administration officials say they will take the largest number they can get and declare victory. As a Bush aide points out with...