Jobless up
NZPA-Reuter Washington The Carter Administration has received more bad economic news, with Government statistics showing a sharp rise in the unemployment rate during July. The Labour Department said that the unemployment rate last month jumped to 6.2 per cent of the workforce, more than reversing the sharp decline in June when the rate had fallen to 5.7 per cent from 6.1 per cent in May. An improving employment situation had, until last month, been the only bright spot in an otherwise dismal economic pattern for the Administration.
this reversal will add to its lounting problems of inflation, a weak dollar overseas and a continuing huge, unfavourable imbalance in America’s overseas trade.
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Press, 7 August 1978, Page 9
Word Count
113Jobless up Press, 7 August 1978, Page 9
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