High Cost of Joblessness

Borrowing is up as state funds run dry

Even as some Administration officials cited signs that the recession may be nearing an end, new government statistics were measuring the toll the slump has taken. The Labor Department reported last week that one out of every five American workers, or 23.4 million people, were out of work during part of 1981; that is 2 million more than in the previous year. The Census Bureau also noted that 32 million Americans, or 14% of the population, lived below the poverty line in 1981 ($9,287 for a family of four), the highest poverty rate since...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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