Word: slump
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...Synfuel Slump...
TIME'S economists saw other encouraging signs that the slump may soon end. Runaway inflation has subsided, enabling the public to stretch its money further. The Administration's $1.6 trillion defense buildup is also helping to stimulate a recovery. Corporations that have been decreasing their inventories appear ready to start restocking shelves. That would mean that companies may soon begin stepping up production and rehiring workers...
Preserving the American dream of owning a home is a laudable idea, but not the way Congress has decided to go about it. True, the Commerce Department announced last week that construction on new homes in April dropped to an annual adjusted rate of 881,000, a slump of 6.4% from March. True, housing starts during the first three months of 1982 were the lowest for any first quarter since World War II. And true, a poll conducted this year by Market Opinion Research showed that many Americans would once again be able to afford homes if mortgage rates...
Unemployment in America is taking on new and startling dimensions. No longer are the bulk of layoffs confined to just autos and housing, which have been in a three-year slump. Unemployment has spread to textiles, pulp and paper, steel, oil drilling and refining, mining and chemicals. Along with union members and the semiskilled, white-collar workers are losing their jobs. Edward Lieberman, 28, was shocked when he could not find work after being laid off from his $20,000-a-year job as a computer-software salesman in Los Angeles. Said he: "I've discovered that I need...
...company has lost $1.1 billion on total sales of $15 billion, and analysts now project perhaps as much as $219 million more in losses during the company's 1982 fiscal year that ends next January. Some of Harvester's troubles have come from the recession-caused slump in farm income, which has cut into tractor and farm-equipment sales. Yet many of the firm's woes are traceable to McCardell's bad management...