The front page article on the recovery "Stocks Dip; Economy Gains - Inch by Inch," June 22, quotes Dr. Michael Keran, Prudential's chief economist, as expecting unemployment to drop to 7 percent by year end, and to 6 percent by the end of 1993. Perhaps it is now time for the economists to talk not only about unemployment but the even greater problem of underemployment and the labor-force dropouts who have given up hope.
Consumer confidence, which is essential to continued growth, cannot improve when higher-paying manufacturing jobs are being sent off shore to be replaced by service-sector employment at substantially lower wages.
A major wealth shift continues to take place in the United States enriching the wealthy at the expense of the rapidly declining middle class. Articles which contend that things are getting better allow those who still have good jobs to close their eyes to the undeniable fact that we are becoming a nation where only the elite will ultimately prosper. Harold Engelman, Shelburne, Vt.
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