Word: rateness
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Dates: during 1950-1959
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...himself about unemployment problems (TIME, March 2), Mitchell was basing his rosy-pink prediction on a recent Labor Department finding on the current high unemployment rate.* The finding: as business picks up, many industrial employers are paying for overtime instead of hiring or rehiring additional workers. Reason: liberal labor contracts have added so many fringe-benefit costs to each employee that it is cheaper-up to a point-to work fewer employees overtime than to add others. For evidence, the Labor Department points out that from January 1958 to January 1959, the number of production workers employed in U.S. industry...
...long run cannot be soundly brought about except with stability in your price structure." And the Joint Economic Committee's minority report, signed by the six Republicans on the committee, backs up the President. Fostering price stability, it says, "is not an alternative objective to a high rate of economic growth. On the contrary, it is a basic requirement for continuing growth...
Among advocates of more federal spending, the figure 5% has become a sort of magic number of yearly economic growth. "Our economy," says Walter Reuther, "should be expanding, at the very least, at a rate of 5% a year." Average yearly rate since the 1870s: 3%. In their swelling stack of pamphlets, proponents of 5%-a-year growth do not argue the realism of their goal in hard economic terms. As authority for it, they point out that last spring a Rockefeller Brothers Fund panel, sprinkled with big businessmen, urged a 5% growth rate...
...advocates of forced-draft growth dismiss the Administration's worries about price upcreep, argue that "mild" inflation does no harm. Harvard's Professor Emeritus Alvin Hansen, grand old man of the a-little-inflation-never-hurt-anybody school, points out that prices edged upward at an average rate of 2⅓ a year over the past 60 years, while the U.S. was achieving history's most remarkable record of economic growth...
...world; its citizens are the most prosperous in Europe, and so fond of its own frothy beer and heavy dumplings that the Germans market corsets in Luxembourg that are outsized even by German standards. And, according to a U.N. report, Luxembourg's drivers have the highest automobile accident rate in the world...