Word: joblessness
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...strikes," said Maria Salati, 35, "short-term work is only a prelude to unemployment." Giuseppe de Biase, 40, disagreed. "I don't want to strike. That only benefits management. I'm afraid that if there's no work, we're going back to hunger." Jobless men will receive unemployment benefits, but they will still lose $10 a week in wages. Said Gerardo Mansi, 34, father of five: "Los ing $40 a month for somebody who's got to go through acrobatics to get through the month as it is is like losing an endowment...
...thereby bring on a real bust. In July, the Council of Economic Advisers expected unemployment to rise to 6% before it began to come down. Now predictions of 6½% by mid-1975 are common. Walter Heller, a member of TIME's Board of Economists, foresees a jobless rate of nearly 7% as a consequence of a single-minded anti-inflation policy. Otto Eckstein, another member of the board, calculates that 8% unemployment, unseen for any long period since 1941, would be required for two full years to get the pace of price increases down to 4% a year...
Fringe Parties. Tourism, a key source of foreign earnings, has declined by an estimated 40%. There has been a rash of bankruptcies among smaller firms, and a sharp rise in unemployment is expected soon. The army of jobless will be swelled by the boatloads of refugees from the colonies that have already begun disembarking in Lisbon; airlines flying from the territories to Lisbon are booked solid for the rest of the year...
...believe that unemployment will exceed 6% during the last half of 1974, but he indicated that it could be higher than that in some months. On the other hand, Walter Heller, CEA chairman under President Kennedy, told the committee that if the Administration sticks to present policies, the jobless rate will probably hit 7% by next year. At week's end, the Labor Department announced that unemployment, after hovering at 5% to 5.2% for six months, had inched up to 5.3% in July...
...long-term program of holding down demand would mean that for years the nation could not reduce the jobless rate to the 4% "full employment" level; unemployment might well rise beyond the present 5.2%. The unemployed, of course, cannot be callously written off- but heating up the whole economy to the point at which employers are eager to hire everyone who turns up is at present a sure prescription for accelerating inflation. Instead, the jobless should be helped by higher unemployment benefits, public-service employment programs, massive job-training efforts to give them marketable skills-and the budget should...