The 1987 rate was the smallest since a 3.1 percent rate in 1947.
Manufacturers cut another 29,000 jobs, but the loss was the smallest since the summer of 2002.
This year's class of 351 freshmen was the smallest since 1976, and 12 percent dropped out in the first two months.
The northern herd has become much smaller since the mid-1990s.
The increase is the smallest since 1983 - the year state university tuition last went up - when it was $220 million.
The administration noted that the increase was the smallest since 1991.
But the general merchandise gain for all of 1988 was the smallest since a 3.4 percent increase in 1982.
The report also said production grew last month, but the rate of growth was the smallest since December 1986.
The number of people entering death row in 2001 was 155, the smallest since 1973.
The 7-point deficit was the smallest since the second quarter.