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August, 1988, Vol. 111, No. 8
Employment and unemployment
in the first half of 1988
During the first half of 1988, job growth began to moderate from the rapid pace of 1987, but the civilian unemployment rate, which averaged 5.5 percent in the second quarter, was down considerably from 5.9 percent at the end of last year. In this article, these developments are viewed in the context of the wider economic background and also are compared to conditions at a similar period in recent business cycle history.
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