
Employment | |
Some Areas Experience Unemployment During Boom |
Even in the most economically robust states, pockets of high unemployment
can be found. Analysts contend that some counties, towns and cities think
they are too insulated by thriving state and national economies to be punished
for not reacting to global competition. Victims of unemployment tend to blame factors ranging from globalization
of the economy and competition from cheaper overseas labor, to the apathy
of local officials. Meanwhile, the U.S. unemployment rate dropped to 4.8 percent in May,
according to the Labor Department -- the lowest since 1973 -- and the economy
has created 6.5 million new jobs since 1994. Source: Del Jones, "Jobless in a Hot Economy," USA Today,
June 9, 1997. |
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