Nearly Seven Million Have Little To Celebrate This Labor Day
New York AP report notes nearly seven million Americans lack jobs, many black and young, highlighting unemployment gaps and civil rights criticism. AFL-CIO leader Meany denounces Carter administration as offering Band-Aids, backing rallies to urge Humphrey Hawkins bill. Carter asks Marshall and advisers to draft minority unemployment remedies before meeting with the Congressional Black Caucus.
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Wall Street Faces Apprehension Over 1977 Prospects
Wall Street begins the business new year with caution amid questions about a potential slowdown or recession. The Dow rose 16.89 to 872.3, NYSE index up 73 to 53.33, and the American Stock Exchange up 1.25 to 138.86, while volume slowed. Experts warn against overreading the leading indicators as economists note revisions can change the index’s message. Labor data show August unemployment at 7.1 percent with wide gaps by race and a youth job program announced under a $2 billion spending plan.
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