Word: joblessness
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...liberal press are some distinct flight images: Ronald Reagan running hither and yon to regain $90 billion worth of lost ground; Gerald Ford running for daylight, daylight which for him must come in regular bursts on the first Friday and the 20th of each month with the proclamation of jobless and price index figures; and, most recently, Jimmy Carter running for cover from forays into his past...
...right in line with their forecasts (TIME, Dec. 22), which call for a rise of about 6% in real gross national product this year and a decline in unemployment to somewhere between 7% and 7.5% by year's end. Last week the Department of Labor reported that the jobless rate dropped from 8.3% in December to 7.8% in January. That was the steepest monthly decline in more than 16 years, and especially welcome because the fact that the unemployment rate had stuck at 8.3% for two months had stirred worry that recovery was not progressing fast enough...
...been so unstable that it is very hard for business firms to determine what degree of risk is prudent in any investment project." If the Ford budget is adopted, he predicts, real G.N.P. will rise only 4% next year, v. the 5.7% growth forecast by the Administration, and the jobless rate will average 7.5% rather than the 6.9% that Ford's economists expect. By the end of 1977, Grove fears, the real growth rate would be down to a sluggish...
...economy needs them, and ultimately shift the use of U.S. output in the direction of more investment rather than consumption. Even so, the CEA says that new incentives for savings and investment will probably be needed if the U.S. is to reach "full employment"-now defined as any jobless rate less than 5%-after 1980. A Commerce Department study endorsed by the CEA concludes that business fixed investment would have to rise to an annual rate of about 12% of G.N.P. between now and 1980-v. less than 9.5% expected for 1976-in order to create the jobs needed...
...rest of the industrialized world, but he had no program to combat it. Investment in industry fell 10% last year, and by official estimate national production rose a bare 1% (by some outside estimates it declined 1%). About 700,000 Spanish workers, or 5.4% of the labor force, are jobless. Another 8% or so have had to seek work abroad, and other European countries are now telling their "guest workers" to go home. Rising oil prices have exacerbated Spain's already unhealthy payments deficit. Pressure is mounting for a devaluation of the peseta, which would mean higher prices...