SLUMP OF INCOMES IN U.S.A.
WAGE-EARNERS SUFFERED MOST.
DIVIDENDS FELL HEAVILY LATE. By Telegraph—Press Assn—Copyright. Washington, Jan. 21. The Department of Commerce has published a survey of the nation’s income for the years 1929-30 and declares it to be the “most complete and detailed ever compiled.” It shows the total income distributed among individuals, exclusive of undeterminable outlets as charity earnings from odd jobs and illegal pursuits, as approximately £16,200,000,000 in 1929, £15,000,000,000 in 1930, £12,600,000,000 in 1931 and £9,800,000,000 in 1932, or abmit 40 per cent, below the 1929 level. Wage-earners suffered the severest loss of about 60 per cent., while salaries dropped about 40 per cent. The survey shows that the income from dividends and interest remained fairly steady in the early years of the depression, but after 1930 declined even more than wages.
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Taranaki Daily News, 24 January 1934, Page 7
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136SLUMP OF INCOMES IN U.S.A. Taranaki Daily News, 24 January 1934, Page 7
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