Show BUSINESS t t m IM MAtH Cf I EMPLOYMENT CONDITIONS DEFINITELY BETTER DEITER Psychological scars resulting from the employment conditions of the recession are still evident This is not sur cur surprising surprising in view of the appalling succession of or plant cl closings and layoffs when the business' business contraction was at its most severe Nor did it help matters any to have building and construction already in a deep slump While employment conditions s have improved over the past year gains have not been marked enough to satisfy job seekers labor leaders social activists and those aspiring to political office STILL A NUI I NUMBER ER OF SOFT SPOTS There are several definite reasons for disenchantment with the job situation For example the rate of unemployment unemployment unemployment shrinkage is far slower than the pace of improvement improvement improvement im im- provement in sales and industrial industrial industrial in in- output There are still pockets of high level high level joblessness in many urban areas with a real paucity of openings for unskilled or low- low skill workers Also job prospects are are dubious for the 1976 crop of high school and college graduates an unhappy situation for an election year What are the causes of the slow progress in reducing unemployment and opening ip more job opportunities High on the list are the heavy direct and indirect wage costs even for lacking requisite training and nd experience Hence many employers are deterred from more expansion of working forces Even the building field is only moderately improved while heavy con construction is even more more pointing In previous World post-World War II economic upswings strength in building was a significant feature in restoring healthy employment It must be noted too too that military which output commands great numbers numbers' of workers workers-c workers now c compare with that seen seen during the cold war the Korean peacekeeping peacekeeping peacekeeping peace peace- keeping mission or Viet Vietnam A NEW NEGATIVE ELEMENT 4 t An important point to keep in mind is the fact that many state and municipal governments are not available at present to absorb available workers to the same same degree they have over the past thirty years During that period states and municipalities were rapidly expanding their staffs but now ir inflation and mounting opposition to income and property taxes are forcing austerity programs upon leaders leaders' of the nations nation's political subdivisions In fact the critical fiscal problems of many state and local governments have forced worker reductions through either attrition or outright layoffs it a combination of both So the public sector of the economy is unable to take up the slack in unemployment as it has done so frequently in the past STILL MANY POSITIVE SIGNS While it cannot be denied that there are still many unemployment unemployment problems there are plenty of real signs that overall job conditions are reflecting substantial improvements Inthis in inthis inthis this year of election hoopla For Forone Forone Forone one thing the current 75 percent jobless rate is a considerable considerable considerable con con- improvement over the nearly 9 percent that prevailed in May 1975 It is heartening also to see that the total number of workers gainfully ully employed after alter a relatively brief slide off during the recession has not only fully recovered but has even moved ahead to a new newall- newall all all- time record height The average length of oC the working week in manufacturing has advanced from a recession low hours to a bit over 40 hours for the latest month of report And the Wanted Help Ads Index a barometer of employment opportunities recently attained a level of 93 1967 compared with a reading of 76 in the winter of I 1975 With today's altered sociopolitical socio sociopolitical political environment the employment situation appears sturdier than critics of current fiscal monetary and legislative policies are willing I to concede And with Ith business inventory accumulation and capital spending plans showing signs of improvement there is no question but that the overall employment pi picture ture is heading a substantially brighter peri period |