State of Business: Trouble & Hope

"The unemployment situation is very grave." With these words, Secretary of Labor Arthur Goldberg last week voiced the new Administration's concern about its biggest domestic problem. The Labor Department announced that the number of workers drawing insured unemployment benefits rose by 228,900 in January's first week to reach 3,300,000, or 8.1% of all those covered and just short of a record number for the 24-year-old compensation plan. Since insured unemployment figures usually preview total unemployment figures (two-thirds of the labor force is protected by unemployment compensation), the Labor Department now figures...

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