PREVIEW The year is 1974. The U. S. economy is in the middle
of a recession. Real gross domestic product (GDP)
declined during three of the past four quarters. In
just one year, household consumption dropped by
more than $40 billion. There are more than 2 million
people without jobs, and there is no relief in sight.
Time magazine reported,
Jobs are harder and harder to come by. "When
something opens up, we all descend like locusts
on the company that's hiring." says Bostonian
Judy Knight, who lost her job as a staff producer
with Atlantic Records last December. "The
company ends up getting the pick of the best."
When 100 jobs opened recently for firemen in
Los Angeles, 1,000 applicants showed up.