Word: joblessness
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Republican candidates in the congressional elections of 1970 suffered badly from public dismay over a jobless rate that had just hit 5.6%. Yet in this year's campaign, with the rate also at 5.6%, unemployment has practically disappeared as a political issue. Only 13% of the likely voters queried in the latest TIME Poll conducted by Daniel Yankelovich Inc. listed it among their worries...
...more missionary spirit, McGovern would use government as a moral force to create equal rights, to give to the poor, to provide jobs for the jobless, food for the hungry, security for families that cannot compete, medical care for the old and the very young. He sees government as the problem solver. His view is fundamentally domestic, concentrated on the problems around him that he can see and hear and understand. The foreign scene tends to intrude only in cases like Viet Nam, which he feels is a moral outrage that has depleted the nation's resources...
...that he is willing to settle for an unemployment rate leveling off at about 5%, meaning that 910,000 more Americans would be out of work than if the U.S. pushed on to the traditional "full employment" target of 4%. Economists generally believe that getting down to a 4% jobless rate would require a continuation for several more years of the huge deficits that Nixon is absolutely determined to shrink...
Among other things, businessmen insist, higher earnings are really needed to help finance the building of new plants and the purchase of new machines. These capital investments create business growth, which would knock down the nation's persistent and demoralizing high unemployment rate. July's jobless rate at 5.5% remained unchanged from June...
...around 5.9% for the past 18 months, and Board members do not anticipate much improvement. Brookings Economist Arthur Okun predicted that the rate would not dip to 5% until August 1973. Employers are cautious about rehiring, figuring that they will be able to draw from the large pool of jobless talent for a long time to come...