This Week In Business - C&EN Global Enterprise (ACS Publications)

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This Week In Business 000 of the nearly 150,000 seasonally adjusted gain over the month of July. State and local government employment showed about the usual sharp summer drop (360,000) as teaching and related education jobs were curtailed. The number of workers on manufacturing payrolls declined by 70,000 in July, slightly less than the usual seasonal drop, to 17.3 million. After seasonal adjustment, factory employment has increased 250,000 since January. The job picture in primary

AUGUST

metals continued strong, as the normal June-to-July drop did not take place, the bureau says. The cutback in transportation equipment was due to the start of automobile plant shutdowns for model changeovers, plus some reductions in aircraft and shipbuilding plants. The workweek of factory production workers, which declined seasonally by 0.2 hour to 40.7 hours in July, was at its highest July level in the postwar period. On a seasonally adjusted basis the workweek has been

31,

1964

at or above the comparatively high level of 40.6 hours for six months. Overtime also declined 0.2 hour to 3.0 hours, but was at the highest July level recorded since 1956. Average weekly earnings of factory production workers declined by 50 cents to $103 in July. The decrease reflected the reduction in hours, because average hourly earnings were unchanged for the third month at $2.53. Both hourly and weekly earnings were up more than 3 % from their July 1963 levels.

PRICES All Wholesale Commodities vs. Chemicals 1957-1959 = 100

SSËSSK 1964

106

102

Industrial Chemicals • —

1963

— All Wholesale Commodities —

98-

1957-1959 = 100 106

102

;—

98—

:

Λ Chemicals and Allied Products 94 ' —

90

1

ι

ι

ι

ι

D J F M A M Source: Bureau of Labor Statistics

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ι J

1 J

1 A

1 S

O

1

1

N

D

1

90

l I I I I I I I I I I I I DJFMAMJJASOND

Rubber Products

Petroleum Products

Drugs

1957-1959 = 100 106

1957-1959 = 100 106

1957-1959 = 100 106

102

102

102

98

90

l I I I I I I I I I I ! I DJFMAMJJASOND

Λ S/ 9 0

l

ν—

I I I I I I I I I I II

98

94

90

l I I I I I I I I I• I I I D J F M A M J J A S O N D

D J F M A M J J A S O N D

AUG.

3 1 , 1964

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