RECOVERY IN INDUSTRY

Poverty Bay Herald, Volume LX, Issue 18179, 29 August 1933, Page 6

RECOVERY IN INDUSTRY

MORE ON PAY ROLLS POSITION IN CANADA (Elec. Tel. Copyright—United Press ABsn.) (Received August 29, 1.30 p.m.) OTTAWA, August 28. The Bureau of Statistics reported today that 24,000 persons had been absorbed into Canadian iudustry in July. A survey of industrial plants showed that the aggregate pay roll numbered 804,219 On August 1, the highest employment level for the past 12 months. In the four jponths, April, May, Juno and July, 104,000 persons had been added to the industrial pay roll. Altogether, it is estimated that the number of unemployed in Canada has been reduced by 200,000 in the past four months.

WITHOJJT PARALLEL POSITION IN U.S.A. NEW YORK, June 30. Nothing but improvement in all brail 'dies of industry was reported iby Duu and Bradstreet, live., to-day. '“'The momentum with .which general business has rebounded from .its alltime low levels of three months ago doubtless is without parallel in the history of the country,” the weekly review said. “At no time in the last decade has an upward swing been so sharp or a forward movement so wide iu the scope it has attained in such a ,brief space of time. Definite evidences of gain now are the rule instead of the exception.” Employment is gaining at a greater pace than at any time in the past three years, arid employees’ earnings are going into circulation, the review said. Moreover, wage increases are being reported for additional companies every week, and in a long list of various industries. The single unfavorable factor found •by Dun and .Bradstreet was that rising employment and swelling payrolls have somewhat- obscured the slow recovery of general consumer buying power, “on which any permanent recovery must depend for its strongest support.” Indices of industrial activity, the review continued, reveal that expansion of trade in some instances has been carried beyond the records of 1932 and 1931, and now is approaching the 1930 levels. Continuing its steady rise or the last 13 weeks, the Dun and Bradstreet activity barometer now .has reached CS.G of the 1928-1930 average. The index has gained almost 50 per cent since the law point of March 22.