Business: More Jobs and Less Inflation

The most winning of all economic combinations is more jobs and less inflation —and that was exactly what the nation achieved in May. The unemployment rate dropped to 7.3% from 7.5% in April; the wholesale price index rose at a moderate annual rate of 3.7%, v. 10% the month before. President Ford hailed the news as "extremely significant" and predicted that it would help him best Ronald Reagan in this week's primaries. Even Democratic Senator William Proxmire of Wisconsin greeted the figures as "unadulterated good news."

Unemployment dropped most sharply among adult women; their...