Business: Some Good News on Jobs

But inflation, interest-rate and stock-price figures offer no cheer

The news broke like a shaft of sunshine through an otherwise stormy week for the economy. After seeming to hover around 7% for eight months, the nation's unemployment rate in December fell to a seasonally adjusted 6.4%.

That was the lowest level since October 1974. It equaled a goal that the Carter Administration had set, then quietly abandoned, for its first year in office. Indeed, it was a shade lower than the rate of unemployment that many economists had predicted for the close of 1978.


Want the full story?

Subscribe Now


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

Learn more about the benefits of being a TIME subscriber

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