Word: joblessness
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...leopard skin, symbol of tribal supreme power. Meanwhile, the rival Bangalas also began organizing, and the bush telegraph began to echo the nationalist sentiments of the recent All African Peoples Conference in Accra. To make matters worse, the demand for Congolese copper ore hit a slump, and jobless natives swarmed into the city to find work. Finally, one day last week, 4,000 blacks jammed into the courtyard of a Y.M.C.A. to hear Kasavubu speak at an unauthorized protest meeting. When the police arrived, the riots began...
...both consumer and creditor. A man who had bought a car with no money down and 36 months to pay had so little equity in the car that he was apt to say "Come and get it" if pressed too hard to pay. Result: many a creditor carried his jobless customers to save himself the trouble and cost of repossession-and usually got his money when the customer's lot improved. Says the vice president of a Cleveland bank: "Our psychology is different from what it was in the 19303. We haven't gotten panicky this time...
...good news from Washington on unemployment was that the jobless total dropped 595,000 in August to 4,669,000, lowest since January, as employment rose to 65,367,000. The bad news was that the rate of unemployment edged to 7.6% of the labor force (see chart), close to the postwar peak of 7.79% set during the coal strike in October...
...jobless ratio rose because unemployment did not go down as much as it should have, considering seasonal factors. Actually, much of the dip in the unemployment total came from students who gave up looking for summer jobs-a move that was discounted by seasonally adjusted figures. But the hard core of unemployed adults over 25 held at 3,241,000, close to the high June-July level...
...that saw G.M.'s Chevy alone outsell all Ford cars, Ford could not afford to stand idle while competitors were producing. But the U.A.W. could not long afford a joint showdown by the Big Three. The union might be faced with $12 million a week in benefits to jobless members, would soon exhaust its $40 million war chest...