Perspectives and Trends
Factors Influencing Employment Outlook
Recently published economic data have led both government and private forecasters to revise their projections in favor of an earlier than expected recovery from the nation's deepest recession since the 1930s. The Commerce Department predicted in June that the nation's economy would grow by 5 percent by year's end. The agency also predicted that 23 of the 29 major industrial sectors it considered in its midyear review would fare better this year than last.1 Civilian unemployment, which reached a postwar high of 10.8 percent in December 1982, had declined to 10 percent by June 1983. Re-employment has occurred throughout the economy, “in both the goods-producing and service-producing sectors,” according to Janet Norwood, commissioner of labor statistics for the Department ...