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...world of smokestacks and stockyards, the recession dominates. The city has lost 160,000 jobs in the past decade, mostly in manufacturing. The steel mills that rim Lake Michigan from Chicago to Burns Harbor, Ind., are idling. Giant International Harvester, long one of the city's most robust corporations, is on the brink of bankruptcy, and the aging Wisconsin Steel plant has closed. Unemployment stands at 12.8%, with 190,967 people out of work More than 20,000 applied for 3,800 temporary jobs offered by Mayor Jane Byrne earlier this month. The state of Illinois' projected...

Author: /time Magazine | Title: Tales off Ten Cities | 1/31/1983 | See Source »

...main problem was finding enough workers to accept its jobs. A bustling producer of meat, wheat, planes, oil and gas, Wichita (pop. 279,000) had the remarkably low unemployment rate of 2.8%. With rows of aerospace plants and enormous grain elevators rising from the prairies, it exuded a robust self-confidence. But the aircraft industry, as well as others, nosedived. More than 20,000 workers were laid off, and the unemployment rate is now 8.5%. "If we can just get people through the next six to nine months, things will be a lot better," says Don Anderson, director...

Author: /time Magazine | Title: Tales off Ten Cities | 1/31/1983 | See Source »

...with a grinding recession that has driven the unemployment rate to 10.8% of the work force, the economics profession has dissolved into a babel of conflicting voices. Result: as the new year gets under way, economists seem further than ever from agreement on how to restore the economy to robust health...

Author: /time Magazine | Title: Where Have All the Answers Gone? | 1/17/1983 | See Source »

...moment. I want to risk, I want to dare. It's like making love. The act is always the same, but each time it's different." But some things were consistent. His Chopin-and he was peerless in Chopin-was strong-willed and large-boned, robust and masculine, yet sensitive and poetic. His Brahms was as hearty, bluff and ruminative as the composer himself. Rubinstein played Spanish music with the brio of a native (Spain was one of his favorite countries), and Impressionist music like a born Frenchman. Perhaps that was to be expected from...

Author: /time Magazine | Title: Music: A Song to Remember | 1/3/1983 | See Source »

...robust rise of the dollar, which on average gained 11.4% against the world's major currencies, added to the protectionist pressures. As American exports became more and more expensive and therefore less and less competitive in foreign markets, fears of a record trade deficit mounted. A copious influx of foreign capital, some in flight from economic and political instability abroad and some attracted by the high real rates of return in the U.S., held the dollar up. As West European governments kept their own interest rates high in order to stem the outflow of capital, their economies worsened...

Author: /time Magazine | Title: Booms, Busts and Birth of a Rust Bowl | 12/27/1982 | See Source »

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