Word: nonfarming
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...hovered there ever since. In 1972, 33% of America's black families fell below the poverty line. (The current poverty line, recently revised upward from $4,275 due to a rise in the consumer price index, is an income of $4,500 for a nonfarm family of four.) Inflation has hurt the black poor particularly cruelly because they have to spend a larger percentage of their income for food and shelter than middle-income people do, and prices for these basics have been spiraling. A Congressional Joint Economic Committee study concludes that last year people in the poverty category...
...according to the Labor Department, in this year's first quarter, private nonfarm productivity declined at an annual rate of 3.5% largely as a result of the severe first-quarter drop in real output of goods and services.* As is usual in times of an economic slowdown, both workers and machines operated below optimum efficiency because employers did not trim their work force as fast as they reduced production. The main cause of the productivity slump in the first quarter was that the gasoline crisis forced automakers to cut production of big, gas-drinking cars. Since auto manufacturing...
...current downturn has lasted roughly three months, and no figures are yet available on what has happened to real G.N.P.Industrial production has dropped 1.4%, the jobless rate has risen six-tenths of a percentage point, to 5.2%, and employment has declined in about 20% of the nonfarm industries. So, by NBER standards, the U.S.is not yet in a recession-though it could enter one later...
...above $10,000, to $10,285. The bad news was that inflation had wiped out the gain; in constant dollars the median income was almost exactly the same as in 1970. At the same time, the number of poor in the U.S. (a poor family is defined as a nonfarm family of four with an income of less than $4,137) remained virtually unchanged: about 13% of the population...
There were some encouraging signs; housing for blacks improved considerably during the decade, for example. But the number of Americans- blacks and whites, Indians and Chicanos-living in poverty (defined as an income below $3,968 for a nonfarm family of four) amounted to 25.5 million, one-eighth of the population...