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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Jul 05, 1977
Page
14
A report argues California unemployment reserves should be larger to blunt a recession. It favors raising payroll taxes during downturns and suggests a trigger of 4 percent rather than 2.5 percent to allow time for tax increases. The analysis cites past strain when the system drew 3600 million during a weak recovery.
New York stocks moved higher in slow post holiday trading. The noon Dow rose 3.06 to 964. The NYSE composite gained 10.43, while the American Steel Exchange fell to 120.24. Hilton Hotels led active issues, down 4 to 14.55 on 284 400 shares traded. Big gainers included International Business Machines and Burroughs, with Digital Equipment also modestly higher as traders weighed earlier losses.
Washington reports the government will drop the head of the household label in census forms and adopt a new design that shows data by the relationship within families. Officials say the change reveals more accurate insights into work, marriage, and child care dynamics while challenging the stereotype of a single breadwinner in most American families.
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