Word: peak
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...rapidly becoming the crisis of the mid-1970s. The official unemployment rate has moved steadily upward from 5.4 per cent in August, to 5.8 per cent in September, to 6.0 per cent in October, to 6.5 per cent in November. The Ford administration claims unemployment will peak at 7 per cent, but that figure could be reached by the end of this month...
...benefits 54% over the next three years. The end of their 24-day strike will avert many layoffs in coal-using industries. But enough workers are being furloughed anyway to keep unemployment climbing. Alan Greenspan, chairman of the Council of Economic Advisers, now predicts that the unemployment rate will peak at "something over 7%" next summer...
...reason for the wholesale-price dip, say sugarmen, is the declining price of the raw product. Sugar speculators, sensing that they had bid up the price on commodity exchanges to an unsustainable peak, have recently begun to dump their holdings and take their profits. U.S. spot prices of raw sugar have tumbled 10? per lb. in the past two weeks to 50?. World sugar prices (the U.S. imports about half the 11.5 million tons that it consumes each year) have fallen from 59? to 49? per lb. in the same period...
MACHINE GOODS. Foreign orders were strong through the spring for everything from typewriters to locomotives. But they are now off 9% from the summer peak and falling. The downturn is expected to worsen because economic forecasts for France, Germany's major customer for machine goods, are also rapidly darkening...
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