PRODUCTION AT HIGH PEAK
UNITED STATES ON BOOM WAVE WASHINGTON, March 18. The Federal Reserve Bank Bulletin, analysing’ reconversion, points out that production throughout America’s economy is at present above the level for any peace-time period and substantially above the average for 1935-39. Employment in all the major lines of activity, except agriculture, mining, and construction, is above the 1941 level. The unemployment figures for February were 2,000,000, compared with an average of 5,000,000 in 1941 and 9,000,000 in 1939. This, month, following a settlement of the major industrial disputes at sharply increased rates of pay, tho total of private wage and salary payments is likely to rise above the annual rate of 75,000,000,001) dollare established last September, and close to the 82,000,000,000-dollar rate last July The lower personal income tax for U! ttf will result in incomes available for spending and saving reaching ciwtu* to the war-time peak. j The Washington correspondent of tho ‘ New York Times ’ comments that the analvsis confounds many economic prophets who last year forecast vast unemployment and internal difficulties by now. ‘
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Evening Star, Issue 25745, 19 March 1946, Page 5
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177PRODUCTION AT HIGH PEAK Evening Star, Issue 25745, 19 March 1946, Page 5
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