Word: joblessly
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...scare word-psychologically laden with history and anguish-rather than a sensible description of what could happen in a modern U.S. economy. No one talks of a 50% drop in national production, or a 25% jobless rate-the experiences of the 1930s that gave the word depression its menacing ring. Indeed, if the current downturn ever approached such severity, the great majority of economists are confident that the Government could forestall a repeat. Says Martin Feldstein, president of the National Bureau of Economic Research: "If we really found ourselves falling off a cliff, there is very little disagreement about...
...ranks of the jobless continue to swell, the nation might produce a new brand of Solidarity with a Lech Walesa waiting in the wings...
...relations with organized labor have been poor since the beginning of his Administration. Said the council in a particularly bitter policy statement: "The catastrophic economic problems the Administration has created are made even worse by a cruel and regressive ideology that rewards the rich, forgets the jobless, punishes the minorities, ignores the poor and destroys protections for working people." When Reagan insisted last week that some Government indicators hinted that economic recovery was not far off, Kirkland retorted that the Administration was "whistling through the graveyard." The union boss claimed that "if you draw optimism out of that...
...states must raise their own trigger rates of unemployment that make the jobless eligible for 13 extra weeks of benefits by one percentage point, from 4% to 5%. In addition, new regulations will also require that any person drawing extended benefits must have worked at least 20 weeks during the previous year before losing his job; there is no such minimum requirement now. The logic behind these reductions in unemployment benefits was simple enough: the employer taxes that pay for them no longer cover the costs...
...researchers at the BLS, the rationale for excluding these dispirited jobless Americans is that the unemployment rate is supposed to chart fluctuations in the conditions of the active labor force, not to paint a complete portrait of human hardship. London and other discouraged workers may be right that they could not find jobs; but BLS researchers reason that the discouraged are not job seekers if they are not offering themselves to employers. Thus the discouraged are lumped with about 60 million other Americans who are classified as "not in the labor force," because they are in school, disabled, running households...