Inflation By Philip Shabecoff
Carter inherited a high unemployment rate and net job growth but May's 6.1 percent remains above historic targets. Inflation climbs near double digits, shifting focus from jobs to price stability. Structural unemployment is seen as addressable even amid inflation, beyond cyclical and frictional types.
MENTIONED IN THIS ARTICLE
Philip Shabecoff
New York Times
Washington
Carter
Humphrey-Hawkins
House
Senate Banking Committee
Viets accused of fraud in Los Angeles
A federal grand jury indicted Hong Duong and Hong The Ly, two Vietnamese refugees, for mail fraud and filing false income tax returns to claim about 400000 in phony refunds. They allegedly used 425 fictitious names, rented 29 post office boxes, and opened 110 savings accounts to cash checks, with plans to flee to China.
MENTIONED IN THIS ARTICLE
Los Angeles
Hong Duong
Hong the Ly
U.S
Leonard Sharenow
Duong
Ms. Ly
Sharenow
China
Structural unemployment and policy ideas in the 1970s America
The piece discusses long term unemployment defined as 27 weeks or more, with 11.1 percent in May. It highlights which groups suffer most, including teen-agers and minorities, and argues skills gaps rather than age or race drive structural unemployment. It reviews government training, public job creation, and targeted inner city efforts, with critics noting high costs and limited success.
MENTIONED IN THIS ARTICLE
Bureau of Labor Statistics
Donald A. Nichols
Sar A. Levitan
Nichols
Levitan
Barry Bosworth
Council On Wage and Price Stability
Arthur M. Okun
Brookings Institution
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