The Economy: Jobs and Jawbone

President Nixon has made it clear that he thinks his economic policies will be in trouble if unemployment reaches 51%. That was just about the average jobless rate during the early 1960s, when the Democrats were in power, and that is what Nixon calls "the critical number." Last week the Labor Department reported that unemployment rose too close to the critical zone in May, increasing from 4.8% to 5% of the nation's work force.

Hurt worst were full-time workers, mostly blue-collar whites on whom Nixon counts for political support. All together 270,000 jobs were lost last month,...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!