Sulphur Springs News-Telegram (Sulphur Springs, Tex.), Vol. 102, No. 158, Ed. 1 Thursday, July 3, 1980 Page: 9 of 32
This newspaper is part of the collection entitled: Hopkins County Area Newspapers and was provided to The Portal to Texas History by the Hopkins County Genealogical Society.
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Economists predict sharp rise in unemployment
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THE NEWS-TELEGRAM. Sulphur Springs, Taxes. Thursday, July 3,19W—f.
m
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a c V *RIIT, June- rose by a million while the
wAcuiMrTTiM*?Am ^ J°Wess rate for most number of employed adult men
(AP)/ 11,6 worker groups showed little and teen-agers dropped 700,000
chan8e the previous and 470,000, respectively,
slipped slightly in June to 7.7 month, with the only rise oc- The total number of people
>a g(?v®rnment curring among adult men from employed and unemployed
y\, 6-6 percent to 6.7 percent. The makes up the labor force,
economists cautioned that rate for adult women dipped to which dropped by 600,000 In
joblessness will continue to rise 6.5 percent from 6.6 percent; June to 104.5 million people, the
m coming months and exceed teen-agers, 18.5 percent from department said.
8.5 percent by year s end. 19.2 percent; whites 6.8 percent Government and private
Mo i.7i Percen| diP from from -6.9 percent; and economists are discounting
May s 7 8 percent jobless level minorities 13.6 percent from June’s slight dip. Because of
(T»SUally 8harpu ft 13 9 Percent. sharp fluctuations in the labor
creases of 0.8 percent in both The Labor Department also
April and May, bringing the reported that total employment
unemployment rate to the in the country fell by 450,000 in
highest level since President June, the fourth consecutive
Carter took office. •> monthly decline. Since
Despite the stability in February, when the em-
overall joblessness last month, ployment level peaked, the ,
the number of persons on number of persons with jobs
temporary layoff as well as has fallen by 1.4 million, with
those whose jobs had been most of this loss affecting adult
force, it is important to look at
changes over more than a
single month, they say.
A huge number of high school
and college-age youth began
searching for jobs in May,
somewhat earlier than they
usually do, and this contributed
to that, month’s severe rise in
unemployment, government
officials explained.
A seasonal adjustment
process normally adjusts for
this increase of young people in
June, they said.
June’s report, then, confirms
that a sharp deterioration in the
economy accelerated during
the second quarter of 1980. Over
the last three months, unem-
ployment has risen sharply,
especially for adult males,
while employment since March
has declined by more than a
million.
Private economists in-
terviewed Wednesday stressed
that the overall trend in
unemployment is clearly up-
ward through 1981.
“There are still many more
layoffs in the works for July
and August,” said Lawrence
But she said unemployment
is now spreading far beyond the
housing and auto sectors and is
starting to show up in many
other industries such as
Ray.. Marshall said an tlC;
percent jobless rate is possibly
by next year. That is somewljijS-
less than forecasts by sw&:
economists as Chlmerine, wfipl
Chimerlne, head of Chase machinery, instruments and expects at least an 8.7 percent
Econometrics in Bala Cynwyd, business furniture. level by the end of 1980.
.And while the sharp jumps in The specter of mounting
auto and housing layoffs may joblessness in an election year ;
be over, employment in these and recent evidence that In-
areas “will continue to drift flation is easing have ignited a ;
down for some time,” Ms. rush toward enactment of tax
Thompson said. cut this year that would take
Last month, Labor Secretary effect in 1981.
PA.
Jill Thompson, an economist
with Data Resources Inc., of
Lexington, Mass., said initial
calculations had indicated an
unemployment rate of 8 per-
cent or 8.1 percent in June.
terminated continued to rise in
June, the Labor Department
said.
This trend was countered by
a decline in the number of
unemployed people who re-
entered the labor force.
The department's report
showed that the number of
unemployed persons fell by
about 148,000 to 8 million in
males.
The downturn in employment
since February had about
matched the job gains of mid-
to-late 1979, so that the overall
level of employment f6r the
month — 96.5 million people —
was about the same as in June
1979, the department said.
However, during that time,
the level of women working
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Keys, Clarke. Sulphur Springs News-Telegram (Sulphur Springs, Tex.), Vol. 102, No. 158, Ed. 1 Thursday, July 3, 1980, newspaper, July 3, 1980; Sulphur Springs, Texas. (https://texashistory.unt.edu/ark:/67531/metapth823593/m1/9/?q=%22%22~1: accessed July 4, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Hopkins County Genealogical Society.