Word: slumping
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Dates: during 1950-1959
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Behind the new unemployment appeared to be an economic slump much like the one that the economy weathered easily in 1949-50. Up to this point, however, the current downturn is not so serious as that of four years ago. In mid-January of this year, 47.7 million were still working in nonfarm jobs, the highest record ever for that month, except January 1953-The total number of unemployed is still far below the 4,700,000 reached in February 1950. In short, the situation is far from critical...
...Label. Despite the favorable comparison to 1949-50, there is much more political talk about the present situation. Chief reason: Democrats hope to use the slump to tie the old "Depression" label on the first Republican Administration in 20 years...
...national committee, which assembled in Washington in honor of Abraham Lincoln, the G.O.P.'s centennial and the opening of the 1954 election campaign. "I sometimes wonder," said Hall, warming to his assignment, "whose interests these left-wingers think they are serving by their incessant talk of slump, recession and depression." Hall said that they were silent in 1950, when unemployment was double what...
There was reason for such optimism. The slump in used-car demand, which had pulled down new-car sales, had reversed itself. And new-car sales, after a slow start early last month, were also picking up. Ford Motor Co. reported that its January sales of 140,633 cars and trucks were highest in history for the month, up 16% from a year...
slight degree" since writing in the Manchester Guardian Weekly that the U.S. is in for a major slump, beginning this year (TIME, Jan. 11). However, Clark still insisted that there were more danger signals than there were for the minor 1949 setback, and that only a cut in taxes or an increase in Government spending big enough to create a federal deficit of $20 billion a year, would avert disaster...