UNEMPLOYMENT RATE TRENDS WAGE AND SALARY WORKERS, 1947-1960 PERCENT OF WORKERS UNEMPLOYED AGRICULTURE INONAGRICULTURAL FORESTRY, FISHING CONSTRUCTION INDUSTRIES AND MINING 12.2 10.2 1947-53 1953-60 1960 Annual Average DURABLE GOODS MANUFACTURING NONDURABLE GOODS | TRANSPORTATION AND PUBLIC 1947-53 1953-60 1960 1947-53 1953-60 1960 1947-53 1953-60 1960 1947-53 1953-60 1960 Annual Average | Annual Average HIGHEST UNEMPLOYMENT RATES, 1960 12.2% CLOSED 9.5% 8.0% Agriculture Forestry, 10.5% 8.4% 7:8% Construction Primary Automobiles These figures cover only full-time unemployment. 1957-1960 figures are based on Apparel THE GROWING VOLUME OF IDLE PLANT AND MACHINES-1954-1961 8% INDUSTRIAL PRODUCTION CAPACITY 3rd QUARTER Source of Basic Data:“Mc Grow Hill Annual Surveys; University of Pennsylvania, Econometric Research Unit. MANUFACTURING CAPACITY IMPACT OF TECHNOLOGICAL PROGRESS ON EMPLOYMENT TRENDS, 1947-1960 Ratios of Indexes, 1947-1949=100 1947 48 49 50 51 52 53 54 55 56 57 58 59 '60 TRENDS IN OUTPUT PER MAN-HOUR -OR PRODUCTIVITY - 1910-1961 Average Annual Rate of Productivity Growth for the Entire Private Economy THE RECORD 1910-1961 INDICATING AN ACCELERATING PRODUCTIVITY 4.0% 3.8% 3.0% 2.6% 2.4% 2.1% 0.5% 1910- 1920- 1930- 1940- 1950- 1955- Ist-4th Qtr . 1961 1960 (Annual Rate)(est.) THE RECORD SINCE WORLD WAR I AND RECONVERSION INDICATING A STILL HIGHER PRODUCTIVITY 4.1% 3.8% 4.0% 2.6% 2.1% 1947-1953 Full 1950-1955 Slack 1953-1960 Period of Slack 1955-1960 Period of Slack Ist-4th Qtr.1961 (Annual Rate)(est) Boom Period Note: Based on U.S. Department of Labor estimates, relating to man-hours worked. |