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International Socialist Review, Fall 1958

 

Forgotten 5,000,000

 

From International Socialist Review, Vol.19 No.4, Fall 1958, p.136.
Transcription & mark-up by Einde O’Callaghan for ETOL.

 

Inflation scare has now replaced almost all business talk of recession. The Administration, big business organizations, and corporate leaders are once again warning that labor must “hold the line” or take the blame for rising prices. There is little or no talk about the problem of continued high unemployment despite the rise in the jobless rate from 6.8 per cent in mid-June to 7.3 per cent in mid-July. Mid-summer unemployment stood at 5.3 million with indications that this rate would climb to 5.5 million by winter – a figure considerably higher than last April when the slump was at its worst.

IUD Fact Sheet (AFL-CIO), August

 
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