Word: joblessness
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...season to be jolly. There is little doubt about it. This year has been one of unexpectedly vigorous growth, declining unemployment and low inflation. And TIME's Board of Economists, which met last week in Manhattan, sees business remaining strong next year, while the jobless rate continues to fall and prices inch up only slightly. With an eye toward next year's presidential campaign, Otto Eckstein, chairman of Data Resources, a Lexington, Mass., economic consulting firm, concluded: "The 1984 outlook is very nice, at least for a Republican...
...grumbles about the nuclear power plants he passes, and is horrified at the despair of jobless young people, but the nec essary briskness of a travel book prevents him from saying anything compelling on these subjects. At times he seems to be seeking out ennui at its most numbing, as if to raise torment to a mystical level...
This year President Hoover did not wait until late autumn before preparing for a hard winter. In June he inaugurated his moratorium plan as a world business stimulant. This he followed up by requesting all Community Chests, through their national organization, to survey joblessness, determine well in advance the "load of distress" they would have to meet. As before, he summoned Big Business to the White House for advice and comfort. Said he reassuringly, "The problem of Unemployment and Relief, whatever it may be, will be met." Before him loomed the A. F. of L.'s prediction...
...other states and met with no objection from the Labor Department, conveniently maintained Illinois' unemployment-insurance payment rate at precisely the level needed to keep residents who had been out of work for more than 26 weeks on the federal rolls. As a result, some 50,000 jobless continued to receive unemployment checks, when under the old method the state would have been ruled ineligible. Thompson was unfazed. "I fought to stay on the program," he said. "To have done less would have been the scandal...
Though still distressingly high, jobless rates for minority groups dropped impressively, from 14% to 12.3% among Hispanics, and from 20.6% to 19.5% among blacks. Even the teen-age unemployment rate, the highest of all, declined from 23.6% to 22.8%. As for the overall total, it is already slightly below the 9.6% average that the Administration's official forecast, prepared by Feldstein, had predicted for the last three months...