Word: joblessness
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Economists knew that the November job statistics would be bad, but when the Government released the figures at week's end they were far worse than expected. Unemployment jumped to 6.5% of the labor force, from 6% in October, the sharpest one-month rise in 13 years; the jobless rate is now higher than in any month since October 1961. Until November, employment and unemployment had both been rising, but last month the number of people who have jobs fell by 800,000. The news helped send the stock market reeling to another twelve-year low. The Dow Jones...
Ford is concerned over mounting social unrest as unemployment rises and benefits for the jobless shrink under mounting pressure on benefit funds...
...walkout could go on for three weeks -and that underground mines would stay closed for a week after that while federal inspectors check them for safety. Even a short shutdown would damage the nation's faltering economy. A prolonged walkout would kick up the already high 6% U.S. jobless rate, topple the economy into a deeper recession, and possibly force a disruptive confrontation between Government and labor...
Journalism now has another, more compelling lure. Jobs for students with liberal arts degrees have been scarce in recent years, and many are eager to learn a trade. Graduate journalism schools report an influx of jobless teachers, engineers and lawyers. Says Campbell Titchener, chairman of the University of Houston's communications department: "Students today want something a little more practical for their college dollars...
Besides attempting to quiet Washington's fears about Portugal's change in command, Costa Gomes last week also asked Washington's help in bolstering the Portuguese economy, which is bedeviled by an inflation rate of 30% a year and the return from Africa of thousands of jobless ex-colonists. Washington is likely to be sympathetic. Not only does it want Portugal to keep its newfound democracy, but it also wants to maintain the vital U.S. air base in the Azores. During the October war in the Middle East, Portugal was the only European country that openly cooperated...