RECESSION IN U.S.
Report On Likely Duration
(Rec. 9 p.m.) WASHINGTON, June 6 A study published yesterday by the Senate-House of Representatives Economic Committee said that recovery from the economic recession was likely to be slower than was previously expected, and it was possible that there might be as many as 7 million unemployed in the first quarter of 1959. The staff study, made public by the committee chairman, Mr Wright Patman (Democrat, Texas), said that even on optimistic assumptions unemployment in the first quarter of next year might be between 5 million and 5} million or 7 to 8 per cent, of the labour force.
A rapid recovery, the report said, could be accompanied by as many as 7 million unemployed, or more than 10 per cent, of the civilian labour force in the first quarter of nex| year. Since its analysis of the economic outlook last February, economic activity had continued to decline, and there were as yet few signs of an early upturn.
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Press, Volume XCVII, Issue 28606, 7 June 1958, Page 13
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166RECESSION IN U.S. Press, Volume XCVII, Issue 28606, 7 June 1958, Page 13
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