Word: joblessness
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STEEL SLUMP will soon force 25% cut in the jobless benefits corporations pay to laid-off workers. Reason: corporate funds have been drained to critical point. Since funds started three years ago, $132 million has been paid...
Many plants have closed up or moved away from depressed areas largely because area workers cling to high wage rates out of line with other regions. But as their savings melt away, workers have lowered their sights. The loss of the Ackermann plant so upset Wheeling workers that a jobless steelworker, Thomas Elliott, set up a "save-a-plant" movement, signed up more than 700 unemployed workers who are willing to take much lower wages...
...Administration came clear last week in the October employment figures. More people were holding jobs (67,490,000) than in any previous October-yet unemployment, which normally falls by 200,000 during the month, rose by 191,000 to 3,579,000. (The number of long-term unemployed-jobless for 15 weeks or more-increased from 800,000 to 1,000,000.) Apparent cause: more and more of the World War II crop of babies coming of working...
...JOBLESS RISE totaled 200,000 in October instead of taking usual seasonal drop of 200,000 in month. Employment fell by 300,000, instead of rising by normal seasonal increase of 400,000. Number of jobless hit 6.4% of the work force on a seasonally adjusted basis, up from 5.7% in Sep-tember-highest level since October 1958. Total employment of 67.5 million was still record for month...
Despite Castro's boast at the U.N. and elsewhere that he has reduced unemployment, some 700,000 workers are jobless, precisely the number under Batista. Downtown Havana's Galiano and Obispo streets are spotted with unemployed trying to peddle combs, hats, cigarettes, small leather goods. Those who have jobs face rugged taxation, even at the lowest unskilled wage level; a 3% income tax, a 4% "voluntary contribution" for industrialization, plus social security, union dues, and one-shot pass-the-hat campaigns cut the average worker's take-home...