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WASHINGTON, D.C.: Two days after the Federal Reserve postponed a vote on interest rates pending new information on the health of the economy, surprisingly low unemployment numbers sent the Dow spiraling into its seventh-lowest point drop in history. The government announced Friday that the unemployment rate in June fell to 5.3 percent as businesses added 239,000 workers to the payroll last month. That figure sharply exceeded the expectations of economists and investors. It promptly sent stock prices into a tailspin: the Dow industrials closed 114.88 down at 5,588.14. "Today's numbers were totally unexpected," reports TIME...

Author: /time Magazine | Title: Jobless Rate Down, and So's the Dow | 7/5/1996 | See Source »

...Secretary of Labor (the only woman ever to hold two Cabinet positions in different administrations), feel the need to begin an interview with a journalist riding in the back seat of a car by saying, "I was elected president of the third-grade bird club and in the seventh grade, I started the junior book club and made myself president"? And to say those words straight, without irony...

Author: /time Magazine | Title: LIDDY MAKES PERFECT | 7/1/1996 | See Source »

Sophomore center Craig MacDonald and sophomore defenseman Ben Storey were selected in the fourth round, first-year goalie J.R. Prestifilippo went in the seventh, first-year defenseman Matt Scorsune went in the eighth and sophomore right-winger Craig Adams was picked in the ninth...

Author: By R. ALAN Leo, | Title: Five Harvard Varsity Standouts Are Drafted by Pro Hockey Squads | 6/25/1996 | See Source »

...correct for this possibility by making statistical adjustments for life-style differences. Larson likes to point out that in his own study the benefits of religion hold up strongly, even for those who indulge in cigarette smoking. Smokers who rated religion as being very important to them were one-seventh as likely to have an abnormal blood-pressure reading as smokers who did not value religion...

Author: /time Magazine | Title: FAITH & HEALING | 6/24/1996 | See Source »

...fashion's Frank Lloyd Wright. In the more than 50 collections he has produced since 1968, Calvin Klein has remained Seventh Avenue's most devout modernist, its pre-eminent avatar of form-follows-function thinking. Each season his models have ambled down the runway in clothes created in quiet protest against fashion's outlandish theatricality. He has never dabbled in a world of beaded headgear or rubber cocktail dresses. "I've always believed in simplicity," Klein reflects. "I've never been one to see women in ruffles and all kinds of fanciful apparel. To me it's just silly...

Author: /time Magazine | Title: TIME 25: THEY RANGE IN AGE FROM 31 TO 67 | 6/17/1996 | See Source »

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