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March 1982

The employment situation in 1981:new recession takes its toll

Robert W. Bednarzik, Marillyn A. Hewson, Michael Urquhart

By yearend, joblessness had surged, propelled by cutbacks in housing, auto, and related industries; employment was back to its year-ago level; the employment-population ratio was at a 4-year low; and the number of discouraged workers and involuntary part-timers topped previous records.

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