Word: labors
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Dates: during 1990-1999
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Flynn and Clapprood hail from two sides of the liberal tradition. An Irish Catholic who rose to prominence in the early 1980s as a populist champion of the working class, Flynn, 59, is an F.D.R. Democrat who's tight with organized labor. He left city hall in 1993 to serve for four years as Bill Clinton's U.S. ambassador to the Vatican, but he still sounds more like a ward heeler than a diplomat. "I've always been a fighter for the poor people of this city, and I'll continue to do that," Flynn says one morning...
EXPELLED. SIX AMERICAN ACTIVISTS held in custody for six days for distributing pro-democracy leaflets; from Myanmar (formerly Burma). Twelve other foreigners were also released by the military regime. The 18 were originally sentenced to five years hard labor following a one-day trial...
...economy remains as sound as it has ever been. While few economists expect a replay of the phenomenal 5.5% growth of this year's first quarter, most foresee a healthy 2% to 3% expansion rate for the rest of the year. The employment picture also looks bright. The Labor Department reported last week that the jobless rate held steady at 4.5% in July despite a strike at General Motors that forced factory shutdowns. And even with the summer swoon, the Dow closed last week at 8,598, up almost 9% for the year...
...same time, Americans' real wages (after inflation) have finally started to move up after three decades of declines or stagnation, as labor shortages force employers to pay premiums to hire and retain workers. "Wealth is the icing on the cake, but it's wages that bake the cake," says Diane Swonk, deputy chief economist at the bank First Chicago NBD. These gradual earnings gains might signal an increase in inflation, because compensation makes up the bulk of most employers' expenses. But the glory of the economy today is its remarkable balance. While labor costs are indeed rising, they are largely...
...irrational exuberance" in stock prices as far back as December 1996, remains more concerned about the threat of inflation than about the danger of a recession or a market collapse. Just last month Greenspan warned that plunging exports to Asia had done little to ease a growing U.S. labor shortage...