[Opa Handbook of Basic Economic Data]
[From the U.S. Government Publishing Office, www.gpo.gov]


OPA HANDBOOK of BASIC ECONOMIC DATA


SECOND EDITION





OFFICE OF PRICE ADMINISTRATION DIVISION OF RESEARCH





                MAY • 1946





Selected Significant Stabilization Dates




July  191b - - - Last month of peace preceding World   
      War I                                            
Apr.  1917 - - - United States entry into World War I  
Nov.  1918 - - - Month of World War I Armistice        
Aug.  1939 - - - Last month of peace preceding World   
      War II                                           
Jan.  19U1 - - - Base month in ’’little Steel” wage    
      formula                                          
Dec.  19 hl - - - United States entry into World War II
Jan.  19^2 - - - Enactment of Emergency Price Control  
      Act of 19h2                                      
May   1942 - - - First month of General Maximum Price  
      Regulation                                       
Sept. 19U2 - - - Base month for price and wage         
      stabilization under Stabilization Act            
      of 19U2                                          
Oct.  19^2 - - - Enactment of Stabilization Act of 19^2
May   19h3 - - - Peak of price rise leading to issuance
      of »Hold-the-Line” Executive Order               
May   19h5---VE Day                                    
Aug.  M5---VJ Day                                      

OPA HANDBOOK OF BASIC ECONOMIC DATA


Second Edition



The OPA Handbook of Basic Economic Data is a compendium of numerical data covering a large number and variety of the important aspects of the national econony. This edition of the Handbook represents a considerable expansion of the first edition, as to content, time periods covered, and format. It now contains about 900 series. Annual data are shown for most series back to 1913, or to the earliest available year thereafter, thus, in general, covering the entire period since the outbreak of World War I. Monthly data are shown for 1944and 1945 and for selected earlier months in each of the war periods which are significant for stabilization comparisons.!/ Provision has been made for the extension of the series on both annual and monthly bases through 1946 and 1947.

Generally, the series are shown in the Handbook in the. form in which they were obtained from the original sources • In the case of some series which are most frequently used by the OPA staff, however, modifications have been made in order to make them particularly adaptable to the special requirements of OPA use. For the most part, such modifications have been the regrouping of component series into composites of special interest, the construction of index numbers from basic data obtained from other government agencies, the shifting of base periods of index numbers, and various other adjustments.

The series are grouped under the following broad classifications:


          I.   Prices — Consumers¹ (Retail), Wholesale, and Farm
          H. Labor Force, Total Employment, and Unemployment
        III • Industrial Activity
         IV.  Agricultural Activity
         V    • Business Activity
         VI.  National Product and National Income
         VII. Federal Fiscal Activity
         VIII.          Social Security Activity


The Handbook is intended to serve merely as a convenient and readily available initial reference to the series. Accordingly, only brief descriptions of the basic data, of methods of construction of the series, and of sources are included herein at the beginning of each group of series • The constant user of specific series in the Handbook is cautioned to refer to original sources of these series, which are indicated in the text or on the tables, in order to obtain exhaustive descriptions •

Series shown in the Handbook will be maintained monthly. Two maintenance sheets will'be forwarded to users of the Handbook each month. The first sheet will contain the current data which become available before the 15th of the month and the second sheet will contain data becoming available after the 15th of the month. New and completely or partly revised series will also be shown on the maintenance sheets#


1/ See inside of cover.


2


                    OPA HANDBOOK OF BASIC ECONOMIC DATA




       The current usefulness of the Handbook, it must be strongly emphasized, will depend in large measure on whether its users see to it that maintenance data are posted as soon as they are received«

       In the use of the Handbook, the following overall points which are generally applicable to all series should be kept in mind:

               I.  Geographic coverage:- All data are for the continental United States as a whole, unless otherwise indicated.

               II.  Seasonal adjustments:- Except where otherwise indicated, the data are not adjusted for seasonal variation*

               III.  Rounded figures:- Group totals and averages may not necessarily equal the sums of the components shown for the group, either because of the rounding of figures or because only selected components are shown.

               IV.  Preliminary data:- The figures for recent months may be preliminary and subject to revision.

               V.  Sources:- The sources shown are in some cases the agency from which data are obtained, or by which they were adjusted, instead of the original sources.

       The arrangement of some tables, and the general necessity to conserve space, have made it impractical to include the foregoing notes on all tables to which they apply.

       In order to facilitate the use of the Handbook, an extensive table of contents listing the groups of series, and, in some cases, individual series, is included on the immediately following pages»





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                        For Inquiries Concerning the Handbook Write to the Division of Research, or Telephone REpublic 7500, Ext• 6852


3

OPA HANDBOOK OF BASIC ECONOMIC DATA


Table of Contents



Page Number

I PRICES — CONSUMERS’(RETAIL), WHOLESALE, AND FARM

A. Consumers’(Retail) Prices................................................................   8-23
   1.  Relative Importance of Component of the Consumers’ Price Index............................... 9
   2. Consumers’ Price Index, by Major Components.................................................  10
   3. Index Numbers of Retail Prices............................................................ 12-20
      a. Foods, by Item.............................................................................   12
  b.        Meats, Poultry, and Fish, by Item.  ................................................   14
  c.        Fruits and Vegetables, by Item  ...................................................... 16
  d.       Clothing, by Item...................................................................... 18
  e.       Housefurnishing Items, Selected.......................................................  19
      f. Miscellaneous Items.......................................................................    20
   4. Index Numbers of Retail Prices of Commodities and Services in the Consumers’ Price Index...............................................................  22

B. Wholesale „Prices ......................................................................   24-47
   1. Relative Importance of Groups in the Combined Index of Wholesale Prices...................... 25
 2. Wholesale Price Index, by Special Groups...................................................   26
   3. Index Numbers of Wholesale Prices .......................................................  28-47
      a. Farm Products ..............................................................................  28
  b.        Food Products.....................................  .  /.............................  30
  c.        Hides and leather Products............................................................ 32
  d.       Textile Products . ................................................................     34
  e.        Fuel and lighting..................................................................    36
      f.  Metals and Metal Products................................................................    38
  g.        Building Materials ................................................................    40
  h.        Chemicals and Allied Products.......................................................   42
  i.        Housefurnishing Goods................................................................  44
  j.        Miscellaneous Commodities .................«...................................         46

C. Farm Prices .............................................................................  48-59
 1.     Index Numbers of Prices Received' by Farmers ..........................................   50
      a. All Prices Combined......................................................................     50
  b. Crop and livestock Prices, by Item......................................................   50,52
   2. Index Numbers of Prices Paid by Farmers.................................................   50,54
  a.        All Prices Combined...............................................................  50,54
  b.        Prices of All Commodities Used for Family Maintenance, by Item........................ 54
      c. Prices of All Commodities Used in Production, by item........................................ 56
   3. Parity Price Ratio .......................................................................... 50
   4. Farmer’s Share of Consumers’ Food Dollar...................................................   58



II LABOR FORCE, TOTAL EMPLOYMENT, AND UNEMPLOYMENT

A.  Labor Force and Employment Status of Noninstitutional Population........................ 60,62

B.  Civilian labor Force, by Employment Status and Sex ....................................  60,64

C.  Employees In Nonag ri cultural Establishments, by Major Industry Group................... 65  ,.66

4

OPA HANDBOOK OF BASIC ECONOMIC DATA


Table of Contents


Page Number


III INDUSTRIAL ACTIVITY


A. Industrial Production, Index Numbers .......................... • •    68-81
  1.    Not Adjusted for Seasonal Variation..........• •••••............ 70-75
     a. Totol Industrial Production ..........................................  70
  b.      Minerals, by Selected .Industry. ...............................   70
  c.      Manufactures...................................................... 70
   (1)        Total ......................................................    70
   (2)        Durable Goods, by Selected Industry . .,....................... 72
       (3) Nondurable Goods, by Selected Industry ............................... 74
   2. Adjusted for Seasonal Variation. • •.•••••••••....................  76-81
     a. Total Industrial Production..........................................   76
  b.      Minerals, by Selected Industry.........................  .'..       76
  c.      Manufactures..................................................     76
     (1)        Total •.»••••••••••••••♦•••••♦•••••••••••                       76
     (2)        Durable Goods, by Selected Industry . . ......................  78
     (3)        Nondurable Goods, by Selected Industry......................... 80

B. Employment, Payrolls, Hours, and Earnings........................ 82-121
  1.    Manufacturing Industries ..... .... ......... ............         85-114
   a. All Industries Combined ..........................................
     b. Durable Goods, by Industry. . . .................................. 88, 92-103
     c. Nondurable Goods, by Industry ..............•••••»••••• 90,104-114
   d.      Index of Employment: Seasonally Adjusted.......................... 85
    (1)        All Industries Combined.......................................  85
    (2)        Durable Goods Industries Combined ............*................ 85
    (3)        Nondurable Goods Industries Combined.........................   85
     e. Straight-time Average Hourly Earnings: On Basis, of Fixed Weights ..... 85
     (1)        All Industries Combined ....... ........ .............. 85
     (2)        Durable Goods Industries Combined ............ ................ 85
     (3)        Nondurable Goods Industries Combined..........................  85
  2. Normanufacturing Industries, Selected. ....••••••♦••••'•••••••      115-121

C. labor Productivity and Unit Labor Cost, by Selected Industry..... 122-129
     1. Manufacturing Industries, Selected ...••..••••..•••••••••••         124-128
   2. Nonmanufacturing Industries, Selected. •••....•••••••••••••••           129

D. Corporation Profits..............................................130-132
 1. Bureau of Internal Revenue Series........................131 2. Department of Commerce Series, by Major Industry Groups. .  .  ... 131,132

E. Net Working Capital of United States Corporations..............• •     133

F. Labor Turnover Rates in Manufacturing Industries................. 134-137

G. Industrial Disputes.............................................. 138-140
 1. Work Stoppages, Number....................................  *  * * *  139,140
 2. Workers Involved................• •.............................. 139,140
   3. Man-days Idle • ••............................................... 139,140


IV AGRICULTURAL ACTIVITY

                                                           141,143
A. Farm Production ............................'                            
1.    Total .......................................................... 143
2.    Crops...................................................   143
3.    livestock............................ ...................143


5

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OPA HANDBOOK OF BASIC ECONOMIC DATA

Table of Contents

Page Number

IV AGRICULTURAL ACTIVITY, cont’d.

B.  Farm Income...................................................................... 141,143
 1.    Cash Income from Marketings....................................................... 143
 2.    Net Income of Farm Operators (Adjusted for Inventory Changes)....................  143

C.  Farm Employment and Wage Rates .................................................  142,144
   1. Employment - Number by Type •.....................................................    144
   2. Farm Monthly Wage Rates...........................................................    144

D.  Productivity in Agriculture........................-.......................  •         146

E.  Farm Real Estate Value ..................................................    .         148

F.  Farm Foreclosures ..................................................................  148



V BUSINESS ACTIVITY

A. Construction Activity....................................................         151-155
  1. Expenditures, by Type and Location of Construction, and by Source of Funds .....................................................................  152
  2.    New Dwelling Units Started, by Location and Source of Financing................... 154

B. Manufacturers' New Orders, Indexes..........................................      156,158
 1.    All Industries Combined..............................................  ...»         158
 2.   Durable Goods Industries, Selected ¹ .............................................. 158
   3. Nondurable Goods Industries Combined...............................................   158

 C.  Manufacturers' Shipments .... ............. ......  .......................... 156,160-169
1.   Value of Shipments..........................................................    160-165
  a.       All Industries Combined.......................................................  160
  b.       Durable Goods Industries, Selected......................................    160,162
  c.       Nondurable Goods industries, Selected.....................................  160,164
2.    Indexes of Shipments.........................................................  160,166
  a.       All Industries Combined.......................................................  160
  b.       Durable Goods Industries, Selected ............................... ......    160,166
  c.       Nondurable Goods Industries, Selected. •• ............................. .    160,168

 D.  Business Inventories.............•.........................................  156,170-175
1.    Value of Inventories...........................................................    170
 a.       All Businesses ................  . . .  ....................................... 170
 b.       Retailers. . . . . .......................................................      170
 c.       Whole salers..................*..............................................   170
 d.       Manufacturers................................................................   170
     (1)          AH Industries, by Stage of Manufacture....................................  170
     (2)          Durable Goods Industries, Selected ....................                      172
     (3)          Nondurable Goods Industries, Selected.....................................  174
2.    Indexes of Inventories......................................................   176-177
 a.       All Businesses................................................................  176
     b. Retailers..........................................................................   176
 c.       Wholesalers. .................................................................  176
 d.       Manufacturers .............................................................     176
    (1)          All Industries. Combined . ............................................     176
    (2)          Durable Goods Industries, Combined......................................    176
    (3)          Nondurable Goods Industries, Combined .... ................................ 176


6

OPA HANDBOOK OF BASIC ECONOMIC DATA


Table of Content»


V BUSINESS ACTIVITY, cont’d.


Page Number

 E. Sales of Retail Stores . •..........................................   178,180-187
   1. Value of Sales............................................................ 180-183
  a.      All Stores...............*.............................................. 180
  b.      Durable Goods Stores, by Type .........................................  180
  c.      Nondurable Goods Stores, by Type ..•...•.•.......•..•••.                   182
   2. Indexes of Sales ......................................................... 184-187
  a.      All Stores ...........y................................................. 184
  b.      Durable Goods Stores, by Type...............• • • • •............ • •      184
  c.      Nondurable Goods Stores, by Type...............• • • •..........•••        186
 F. Sales of Chain Stores and Mail-Order Houses . ........................ 178,188-195
 1.    Value of Sales ..........*.........................................     188-191
  a.      All Stores ............................................................. 188
  b.      Durable Goods Stores, by Type • • •...............................       188
  c.      Nondurable Goods Stores, by Type . . •...............................    190
 2.    Indexes of Sales ....... •  • • • • .................. ...........••••    192-195
      a. All Stores................................................................    192
   b.      Durable Goods Stores, by Type .... •  .................. ......            192
   c.      Nondurable Goods Stores, by Type .........................   ......       194
 G. Business Population........................................................... 196
 H. Industrial and Commercial Failures......................................   197-198
 1.    Number of Failures............... .................................... 198
 2.    Rate of Failures....................................................... 198
I. Stock Price Indexes, by Selected Stocks .................................. 199-201
J. Money in Circulation...................................................I    202,204


K. Bank Deposits ........................................... . . .......... 202,205
 1.    Total Deposits ....................................... ...... •             205
 2.    Government Deposits....................................................    205
 3.    Private Time Deposits..................................................... 205
 4.    Private Demand Deposits ...........................   ......... 205

L. Consumer Credit Outstanding, by Major Part..........   202,206-207
 1.    Consumer Credit - Total ....•••......•••••••.••.♦••••         206
 2.    Installment Credit, by Type .............................    206
 3.    Single Payment Loans .....................................   206
 4.    Charge Accounts ..........................................   206
 5.    Service Credit .••••••••• ......... ....  ..............206
 6.    Index - Total Consumer Credit .............................  206

M. Nonfarm Mortgage Recordings, Loans and IHA Insurance •••••••••••••••. 202,208
 1.    Nonfarm Mortgage Recordings - Total ................................. 208
 2.    Home-mortgage Loans by Savings and Loan Associations ••••............ 208
 3.    FHA Insurance - Firm Commitments Issued...........................    208
   4.    FHA Insurance - Mortgages Insured . ., ...........................    208


N. Foreign Trade of the United States ........... ........ .........        209-211
 1.    Exports ..........................................................      210
 2.    Imports ........•.•.••••• ......................... .........             210
 3.    Excess of Exports over Inports............................-............ 210
VI NATIONAL PRODUCT AND NATIONAL INCOME

A. Gross National Product or Expenditure, by Major Component ..........   212-220
  1.    Federal, State and Local Government Expenditures, by Origin........ 214,216
  2.    Private Gross Capital Formation, by Type..........................  214,217
  3.    Consumer Expenditures for Goods, by Type. ••••....................  214,218
   4. Consumer   Expenditures  for Services, by Type •••••••...............  214,219

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OPA HANDBOOK OF BASIC ECONOMIC DATA

Table of Contents

Page Number

VI NATIONAL PRODUCT AND NATIONAL INCOME, cont’d.

B. Relation of Gross National Product to National Income .........................  212,220

C.  National Income, by Major Component............................................ 220-230
   1.  Disposition of National Income and Income Payments...............................   224
 2. Income Payments to Individuals, Amount, by Type . .................................. 226
   3.  Income Payments to Individuals, Indexes, by Type .................................. 230
   4. Salaries and wages, Total, by Major Component....................................... 228



VII  FEDERAL FISCAL ACTIVITY

A.  Budgetary Receipts and Expenditures of the Federal Government ...........               231-233
   1. Gross Receipts, by Type...................................................................  232
2.    Expenditures, by Type.................................................................  .232
   3. Net Budgetary Surplus or Deficit .......................................................... 232

B.  Cash Income and Outgo of the Federal Government....................................... 234,235
1.     Income .............................................................................    235
   2. Outgo....................................................................................   235
3.     Excess of Income or Outgo............................................................   235

C.  Public Debt and Guaranteed Obligations of the United-States Government..........  • 234,236-237
1.    Total Gross Debt.....................................................................    236
2.     Public Debt............  ...........................................................    236
3.     Guaranteed Obligations..............................................................    236

D.  Sales and Redemptions of United States Savings Bonds                                    238 -239
1.     Series E .............................................................................. 239
2.     Series F ......................................................................  v       239
   3. Series G  ...............................................................................   239



VIII SOCIAL SECURITY ACTIVITY

A. Benefits and Beneficiaries Under Selected Social Insurance and Related Programs   .................................................             240-245
 1.    Monthly Retirement and Disability Benefit Programs . . . ....... 242,244
 2.    Survivors Monthly Benefit Programs  ..............• •........... 242,244
 3.    Survivors Lump-sum Benefit Programs............*................ 242,244
  4. Rhode Island Sickness Compensation ..............................   242,244
 5.    Unemployment Insurance Programs ................................ 242,244
 6.    Servicemen¹ s Readjustment Act................................   242,244

B. Old-age and Survivors Insurance: Summary of Selected Data« ••••••.  246,248

C. Unemployment Compensation: Summary of Selected Data« •••••••••••••••  246,249

D. Public Assistance •••••••••••••• .......... ..............            247,250
  1.  Payments, by Program ................................................  250
  2. Recipients, by Program . . . ........................................   251

2. Financial Operations of Selected Social Insurance Trust Funds...... 247,253
 1.    Federal Old-age and Survivors Insurance Trust Fund ................  252
 2.    Railroad Retirement Account..........  •  ....•.......••               252
  3. Civil Service Retirement and Disability Fund........................... 252
  4.  Unemployment Trust Fund ................................      •  •       253


8

PRICES


CONSUMERS' (RETAIL) PRICE INDEX (Formerly called "Cost of Living Index”)



       The retail price series presented in the Handbook are compiled by the Bureau of Labor Statistics, United States Department of labor, and published monthly in a mimeographed release and in the Monthly Labor Review« The BIS combined index of all retail prices and the BLS consumers' price index are generally used as synonymous« Indexes of retail prices for the various groups of goods and services are similarly identical with the component indexes of the consumers’ price index. The term "consumers’ price index" is used in the following notes«

       The consumers* price index is based on the cost of goods purchased at retail, rents, and services used by families of wage earners and moderate-income workers in 56 large cities as of the 15th of each month. Food prices are obtained in 56 large cities each month, and prices of other goods and services obtained in 21 large cities every month and in 13 additional cities every 3 months. In addition, special consumers’ price surveys are made semi-annually for Bridgeport, Omaha, San Diego, South Bend, and Wichita — five of the 12 former war production centers.

       The index covers price changes for about 200 commodities and services« Counting all the different grades and qualities, about bOO different kinds of prices are collected. In addition, figures on changes in rents are obtained on about 50,000 tenant-dwellings semi-annually for use with this index. These prices are customarily grouped under 6 headings — (1) food, (2) clothing, (3) rent, (b) fuel, electricity and ice, (5) house-furnishings, and (6) miscellaneous goods. Separate indexes are computed for each of these groups, and the final cost of living index is a composite of the six group indexes. Included also in the handbook are index series giving breakdowns of the food, clothing, house-furnishings, and miscellaneous components. A breakdown of the total index by commodities and services including and excluding rent is also presented. The relative importance (percentage weights) of each component group in the composite index is shown for specified dates in a table on the following page«

       Separate indexes are constructed for each city by the aggregate method, the weights for each city being the average amount of goods purchased per family per year by wage earners and moderate—income workers in that city. The city indexes are combined into a national index by using weights based on the population of the metropolitan areas and that of other cities in the sane region and size class where, it is believed, prices move in a similar fashion.

       Additional and more detailed descriptions of the indexes may be found in "Description of the Cost of Living Index of the Bureau of Labor Statistics", revised May 19 bb, and an earlier release, Bureau of labor Statistics Bulletin No. 699, 19bl«


9

RELATIVE IMPORTANCE OF THE COMPONENTS OF THE CONSUMERS* PRICE INDEX

                                         (percent)                                          
NOTE: See p. 8                                                                              
                                                   Fuel,                                   
Month           Food         Clothing    Rent      Electricity   House-       Miscellaneous
                                                   and Ice       furnishings               
1935 - 1939 Av. 35.4      11.0           18.8      6.7           4.4          23.7         
1939 Sept.      34.6      11.0           19.6      6.6           4.4          23.8         
1941 Jan.       34.3      11.0           19.6      6.7           4.4          24.0         
Dec,            34.7      11.0           17.6      6.1           4.4          26.2         
1942 Jan.       35.2      10.9           17.5      6.0           4.4          26.0         
May             37.7      12.2           18.1      6.2           4.7          21.1         
Sept.           39.6      12.3           18.0      6.3           3.5          20.3         
Oct.            40.1      12.1           17.8      6.3           3.5          20.2         
Dec.            41.0      12.1           17.8      6.2           3.2          19.7         
1943 Jan.       4i.o      12.1           17.8      6.2           3.2          19.7         
May             42.7      H.9            17.0      5.9           3.0          19.5         
Dec.            41.2      12.6           17.2      6.0           2.9          20.1         
1944 Jan.       41.0      12.6           17.2      6.1           2.9          20.2         
Dec.            4o.5      13.1           16.9      5.9 '         3.2          20.4         
1945 Jan.       40.4      13.1           16.8      6.0           3.2          20.5         
Feb.            40.2      13.2           16.9      6.0           3.2          20.5         
Mar.            4o.i      13.2           16.9      6.0           3.2          20.6         
Apr.            40.2      13.2           16.8      6.0           3.2          20.6         
May             40.6      13.2           16.7      5.9           3.1          20.5         
June            4i.o      13.1           16.6      5.9           3.1          20.3         
July            4i.o      13.1           16.6      5.9           3.1          20.3         
Aug.            4o.8      13.2           16.6      5.9           3.1              20.4     
Sept.           40.2      13.3           16.5      6.0           3.1          20.9         
Oct.            40.1      13.3           16.5      6.0           3.1          21.0         
Nov.            40.3      13.3           16.5      5.9           3.1          20.9         
Dec.            40.4      13.3           16.4      5.9           3.2          20.8         
1946 Jan.       40.3      13.3           16.4      5.9           3.2          20.9         
Feb.            4o.o      13.4           16.4      6.0           3.2          21.0         
Maf.            4o.o      13.6           16.3      5.9           3.2          21.0         
Apr.            40.2      13.6           ^■2                     3*2,         20.9         
                                                   ••■*•■■■■                               
June                                                                                       
July                                                                                       
Aug.            i                                                ■MM««*                    
Sept.                                              •MMMMM»       ------------              
Oct.                                                                                       
Nov.                                                             ---■■ - ■ ■    ---------  
Dec.                                                                                       
1947 Jan.                   ---------    ---------                               -------   
Feb.                                                                                       
                                                   ■MMMMMM       MMMMMMM»                  
Apr.                                               OMMHMM»       •»»*»*                    
                                                   ■■ ■ --- ■ ■■ MWMMM»                    
                                                   MMMMW         *■■■■■■■■■•               
                                                   «■»■■MR*      1 > ---1 ■                
Aug.                                               ■ ■ »1 --- «  ■■■■■■■■■■                
Sept.                                              «■■■■■■■M     130.6 ,  127.7   155.2  129.7     
Oct.         129.6   105.7    131.2      131.2   164.7  137.1     
1943         138.0   107.6      133.8    134.6   161.9  168.8     
May          143.0   107.6      138.3    136.9   142.1  190.8     
1944         136.1   108.4      129.9    133.6   153.9  168.2     
Jan.         136.1   108.5    131.0      133.5   154.0  166.7     
Feb.         134.5   108.1      130.5    133.5   142.5  163.0     
Mar.         134.1   108.0      130.6    133.6   135.5  162.9     
Apr.         134.6   108.0      130.0    133.6   127.6  168.8     
May          135.5 . 108.1      130.3    133.5   127.1  172.8     
June         135.7   108.4      129.8    133.5   129.1  174.0     
July         137.4   108.6      129.3    133.6   148.9  176.9     
Aug.         137.7.  108.5      129.0    133.6   159.4  175.7     
Sept.        137.0   108.6      129.0    133.6   168.0  169.9     
Oct.         136.4   108.6      129.4    133.6   179.0  162.9     
Nov.         136.5   108.6     ' 129.7   133.6   186.7  160.7     
Dec.         137.4   108.6      129.9    133.5   188Ì5  164.2     

13

                INDEX NUMBERS OF RETAIL PRICES OF FOOD 1/                   
NOTE: See p. 8  ___________(1935-39 - JOO)                                  
                Cereals                                                    
Year            and             Meats,  Dairy                   Fruits     
and   All       Bakery         Poultry, Pro-                    and        
Month Foods     Products       Fish     ducts            Eggs   Vegetables 
1945  139.1     109.0          131.2    133.9            164.4  177.1      
Jan.  137.3     108.7          130.2    133.5            169.6  168.9      
Feb.  136.5     1C8.7          130.7    133.5            153.2  168.9      
Mar.  135.9     108.7          130.8    133.5            140.7  169.5      
Apr»  136.6     108.9          130.8    133.5            139.9  173.3      
May   138.8     109.0          131.6    133.5            140.7  182.5      
June  141.1     109.1          131.6    133.4            145.1  192.6      
July  141.7     109.1          131.6    133.4            157.2  191.8      
Aug.  U0.9      109.1          131.8    133.4            171.4  183.5      
Sept» 139.4     109.1          131.6    133.4            183.9  172.5      
Oct.  139.3     209.1          I3I.O    133.3            185.5  172.5      
Nov.  140.1     109.1          131.0    135.9            192.1  172.3      
Dec.  141.4     109.2          131.2    136.2            193.2  177.3      
1946                                                                       
Jan.  141.0     109.4          131.4    136.4            172.4  180.8      
Feb.  139.6     109.8          ' 131.3  136.6            144.2  181.1      
Mar.  140.1     110.3          131.3    137.0            139.0  183.4      
Apr.  I4I.7     113.3          132.8    ■W               127.7_            
May      ---                   ---      ---              ---    ---        
June            --- ■■---■.---                                             
July            y   ------     ■  ---                                      
Aug.                                                                       
Sept.                                                                      
Oct.                                                                       
Nov.                                                                       
Dec.                                                                       
1947                                                                       
Jan.                                    V                       •----------
Feb.            ---                     ---------------r                   
Mar.                                                                       
Apr.                                                                       
May                                                                        
June                                                                       
July                                                                       
Aug.                                                                       
Sept.                                                                      
Oct.                                                                       
Nov.                                                                       
Dec.                                                                       

UTAH STATE AGRICULTURAL COLLEGE

2/ Groups for beverages, fats and oils, and' sugar dairy products are available prior to 1923 but





Source: United States Department of Labor, Bureau of labor Statistics




INDEX NUMBERS OF RETAIL PRICES OF MEATS, POULTRY, AND FISH 1/



            U



NOTE: See p. 8     (1935-39 s 100)                
                                          Fish:  
Year  Total Beef   Pork  Lamb    Poultry: Fresh  
and         and                  Roasting and    
Month       Veal                 Chickens Canned 
1923  101.2        O» *  * «B    BB BB    BB BB  
1924  102.4 ■b e»  •• bb ~ «B    BB BB    • •    
1925  111.3 «• »   •• BB --- «   * BB     B> SB  
1926  117.8 e» bb  --- * •B ---  * BB     BB BB  
1927  116.0 bb ••  * BB  --- •>  BB BB    --- •  
1928  123.1 * *    «B W  * «B    BB BB    * BB   
1929  127.1 e» bb  * bb  •» BB   MB BB    BB BB  
1930  119.1         bb                           
1931  101.1        «a bb               BB        
1932  79.3  --- «B       ■ "•    * IB            
1933  68.9  -• *   * bb  --- --- --- •    BB BB  
1934  78.9  * e»   •• BB «B» «B  BB BB    --- BB 
1935  99.9  98.9   104.7 96.3    95.5     98.2   
1936  98.9  94.7   103.4 101.1   101.1    98.5   
1937  105.8 106.5  106.6 105.2   104.9 .  101.0  
1938  98.9  98.7   96.3  97.9    104.6    101.3  
1939  96.6  101.1  88.9  99.5    93.8     101.0  
Aug.  95.7  99.6   88.0  98.8    94.6     99.6   
1940  95.8  102.8  81.1  99.7    94.8      110.6 
1941  107.5 110.8  100.1 106.6   102.1     124.5 
Jan.  101.1 109.4  86.1  98.7    97.2     118.7  
Dec.  111.1 114.4  103.2 108.1   100.5    138.9  
1942  126.0 123.6  120.4 124.1   122.6    163.0  
May   124.3 124.1  123.2 118.2   113.4    150.9  
Sept. 130.6 126.0  124.0 133.7   133.7    168.2  
Oct.  131.2 126.5  124.4 133.0   133.0    172.8  
1943  133.8 124.7  119.9 136.9   146.1     206.5 
May   138.3 131.2  125.5 141.6   147.6    200.5  
1944  129.9 118.7  112.2 134.5   151.0    207.6  
Jan.  131.0 119.3  112.8 133.8   149.9     223.5 
Feb.  130.5 119.3  112.5 133.9   149.9    217.1  
Mar.  130.6 119.1  112.3 134.1   150.2    220.2  
Apr.  130.0 119.1  112.1 134.3   150.4    210.4  
Mar.  130.3 118.9  111.9 134.4   155.9    200.5  
June  129.8 118.8  112.0 134.8   154.1    196.7  
July  129.3 118.7  112.1 135.0   151.4    197.5  
Aug.  129.0 118.6  112.0 134.7   149.8    198.0  
Sept. 129.0 118.3  112.2 134.6   149.3    200.4  
Oct.  129.h 118.2  112.2 134.7   149.9    ' 205.8
Nov.  129.7 118.2  112.2 134.5   150.4    210.3  
Dec.  129.9 118.3  112.3 135.6   150.6    211.0  

INDEX NUMBERS OF RETAIL PRICES OF MEATS, POULTRY, AND FEH 1/

NOTE: See p* 8                        (1935-39 s 100)                     
                                                                   Fish: 
Year                  Beef                               Poultry:  Fresh 
and       Total       and                 Pork    Lamb   Roasting  and   
Month                 Veal                               Chickens  Canned
1945      131.2       118.4               112.6   136.0  1544      217.0 
Jan.      130.2       118.4                112.5  135.5  152.2     210.1 
Feb.      130.7       118.4                112.5  135.5  152.9     215.2 
Mar.      130.8       118.4                112.4  135.9  153.6     224.4 
Apr.      130.8       118.6                112.4  135.9  154.3     211.9 
May       131.6       118.6               112.5   135.9  156.3     218.7 
June      131.6       118.5                112.6  136.0  156.8     215.6 
July      131.6       118.5                112.7  136.0  •   156.2 217.3 
Aug.      131.8       118.5                112.6  136.4  157.3     217.8 
Sept.     131.6       U8.H                 112.6  136.4  155.9     219.8 
Oct.      131.0       118.2               112.6   136.2  152.3     221.3 
Nov.      131.0       118.2                112.6  136.2. 152.5     220.8 
Dec.      131.2       II843               112.6   136.4  153.1     221.7 
1946                                                                     
Jan.      131.4       118.2                112.6  136.4  152.7     227.3 
Feb.      131.3       118.3               112.6   136.9  151.2     226.9 
Mar.      J2M.        118.3   >            112.8  137.0  150.2     227.7 
Apr.      132^        119.8                        j^i_  _ma_      221*3 
May                                                                      
June                                                                     
July                                                                     
Aug.                                                                     
Sept.                                                                    
Oct.                                                                     
Nov.                                                                     
Dec.                                                                     
1947                                                                     
Jan.      ---                               ---                          
Feb.                                                                     
Mar.                                                                     
Apr.                                                                     
May                                                                      
June                                                                     
July                                                                     
Aug.                                                                     
Sept.                                                                    
Oct.                                                                     
Nov.                                                                     
Dec.                                                                     
1/ The subgroups are  not available prior to 1935                        

    Source: United States Department of Labor, Bureau of Labor Statistics

16

INDEX NUMBERS OF RETAIL PRICES OF FRUITS AND VEGETABLES

NOTE: See p. 8 (1935-39 g 100)
Year                                                                                 
and                Total   Fresh                   Canned                 Dried      
Month                                                                                
1923                169.5  173.6                    124.8                   175.4    
1924                159.5  162.7                    128.2                   159.6    
1925                 185.1 193.5                    132.3                   159.0    
1926                210.8  -226.2             J       122.9                    152.4 
1927                183.8  194.4                    120.8                   145.9    
1928                161.4  166.5                    120.6                   153.9    
1929                169.0  173.5                    124.3 z              171.0       
1930                177.5  1 185.7                    118.6                   158.7  
1931                125.7  128.7                    103.3                   118.7    
1932                103.5  105.9                     91.1                    91.2    
1933                113.8  118.9                     87.9                    88.4    
1934                119.1  122.3                    103.9                   101.1    
1935                 99.7  98.8                    106.2                   100.8     
1936                104.8  106.2                    100.9                    96.6    
1937                107.9  108.6                    103.2                   116.0    
1938                 93.2  92.1                     97.4                    93.3     
1939                 94.5  95.1                     92.3                    93.3     
Aug.                 92.4  92.8                     91.6                    90.3     
1940                 96.5  97.3                     92.4                   100.6     
1941                103.2  104.2                    97.9                  106.7      
Jan.                93.3   93.4                     91.4                    99.6     
Dec.               110.5   111.0                    106.3                   118.3    
1942                130.8  132.8                    121.6                   136.3    
May                128.7   130.0                    122.7                   131.2    
Sept.              129.7   130.3                    123.8                   143.4    
Oct.                137.1  139.3                    125.0                   149.9    
1943                 168.8 178.0                    130.6                   158.9    
May                190.8   205.8                    131.1                  158.0     
1944                168.2  177.2                    129.5                   164.4    
Jan.                166.7  175.3                    129.7                  162.8     
Feb.                163.0  170.7                   129.8                  163.1      
Mar.                162.9  170.6                    129.6                   163.2    
Apr.               168.8   178.0                    129.5                   163.2    
May                172.8   183.1                    129.2                   163.5    
June               174.0   184.6                    129.2                   164.1    
July               176.9   188.4                    129.0                   164.6    
Aug.               175.7   186.7                    129.3                   165.0    
Sept.              169.9   179.4                    129.4                   165.3    
Oct.                162.9  170.4                    129.7                  165.7     
Nov.                160.7  167.6                      129.6                   . 166.5
Dec.                164.2  171.9                    129.9                   166.4    

17

INDEX NUMBERS OF RETAIL PRICES OF FRUITS AND VEGETABIES

NOTE: See p* 8        (1935-39 * 100)                 
Tear                                                 -
and             Total Fresh           Canned   Dried  
Month                                                 
1945            177.1 188.2           130.2    168.2  
Jan.            168.9 177.9           129.7  - 166.9  
Feb.            168.9 177.8           129.8    167.0  
Mar.            169.5 178.6           129.9    167.4  
Apr.            173.3 183.3           130.0    167.9  
May             182.5 195.0           130.2    168.5  
June            192.6 207.7           130.1    168.8  
July            191.8 206.7           130.2    168.9  
Aug.            183.5 196.2           130.3    168.6  
Sept.           172.5 182.3           130.4    168.8  
Oct.            172.5 182.3           130.4    168.9  
Nov.            172.3 181.9           130.6    168.5  
Dec.            177.3 188.4           130.3    168.7  
1946                                                  
Jan.            180.8 192.7           130.5    169.0  
Feb.            181.1 193.0           130.9    169.8  
Mar.            I83.h 196.3           129.6    168.9  
Apr.            XSi£      -199-8-     128.7    _169m5_
May                                                   
June                                                  
July                                                  
Aug.                                                  
Sept.                                                 
Oct.                                                  
Nov.                                                  
Dee.                                                  
1947                                                  
Jan.                                                  
Feb.                                                  
Mar.                                                  
Apr.                                                  
May                                                   
June                                                  
July                                                  
Aug.                                                  
Sept.                                                 
Oct.                                                  
Nov.                                                  
Dee.                                                  
                                                      

   Source: United States Department of Labor, Bureau of Labor Statistics

697283 0—46_2      '

INDEX NUMBERS OF RETAIL PRICES OF CLOTHING 1/

NOTE: See p. 8                   (June 1939 = 100)                              
                                              ' Siile                          
Year             All    Wool     Cotton           and Foot-   Men’s    Women’s 
and           Clothing  Clothir  ig Clothing    Rayon wear    Clothing Clothing
Month                                        Clothing                          
1939 - June   100.0     100.0    100.0       100.0    100.0   100.0    100.0   
Mo            101.1*    101.5    101.1       101.7    102.0   101.7    101.1   
19h0 - Dec«   101.3     101.7    101.2       101.0     102.1  101.9    100.8   
Ml            106.0     107.0    108.8       105.1*    105.9  107.1     105.9  
1951 - Dec»   M.5       112.5    122.1*      115.3    112.0   lll*.0    115.1  
191*2         123.8     121.9    131*.O      125.1    119.8   125.0    122.8   
1952 - June   121*.9    122.9    135.3       126.7    120.1   126.2    123.9   
191*2 - Sept. 125.1*    121*.O   335.0       126.2    121.5   126.8    121*.l  
191*3         129.3     128.1*   11*1.1*     127.0    125.2   130.6    128.5   
1953 - June   127.5     125.7    139.1*      121*.9   121*.6  129.5    125.7   
191*1*        138.1*    137.8    151*. 2     131*.O   129.3   137.1    139.9   
- March       136.3     135.2    150.1*      132.7    128.1*  135.1*    136.9  
- June        137.6     135.1*   153.9       133.9    129.1   136.1*    138.5  
- Sept.       11*1.0    11*1.2   156.8       135.5    130.1   138.7     11*3.1 
- Dec.        11*2.1*   11*2.1   160.2       136.5    130.7   139.9    11*1*.7 
191*5         11*5.5    ll*l*.l* 167.9       138.7    132.1   11*3.2   11*8.0  
- March       11*3.3    11*2.6   161.7 .     137.5    131.2   11*0.5   11*5.9  
- June        11*5.0    11*3.1   166.9       138.5     132.0  11*2.2    11*7.5 
- Sept.       11*7.8    11*6.1*  172.2       11*0.1   132.8   11*5.1   150.2   
- Dec.        11*9.0    11*7.3   175.9       11*0.1    133.3  11*7.6   150.1   
191*6                                                                          
- March       "152". 6" 11*'/.?  181*.Ö '    i5h.u    "137.1" 152.2    ' 152.9 
- June                                                                         
- Sept.                                                                        
- Dec.                                                                         
M7                                                                             
- March                                                                        
- June                                                                         
- Sept.                                                                        
- Dec.                                                                         
                                                                               

V Annual averages are estimated« Groups for Mother garments” and ^services* are omitted« The men’s and women* s clothing series are a separate grouping and together include all items in the clothing index«



SOURCE: United States Department of labor> Bureau of labor Statistics


19

INDEX NUMBERS OF RETAIL PRICES OF SELECTED HOUSEFURNISHING ITEMS 1/

NOTE: See p. 8           (1935-39 ■ 100)               
Year         AÜ.                                      
and               House- Towels      Sheets  Furniture
Month        furnishings                        2/    
1935         91*.8       102.2       99.2             
1936         96.3        100.5       101.8            
1937         iol*.3      101*.8      110.5            
1938         103.3       •     96.1* 96.3             
1939         201.3       98.8        92.1*   200.8    
1939 - June  100.6       93.9        91.0    100,0    
191*0        100.5       96.0        98.8    102.8    
1940 - Dec.  100.1*      96.5        95.2    103.5    
191*1        107.3       102.8       105.6   116.1    
1941 - Dec.  116.8       115.2       121.9   128.8    
191*2        122.2       131.6       . 135.7 232.0    
1942 - June  122.3       132.6       137.1   232.2    
1942 - Sept. 123.6       133.7       137.6   232.3    
191*3        125.6       11*3.2      138.5   131*. 1  
1943 - June  125.1*      11*3.1*     138.5   133.8    
191*1*       136.1*      160.9       139.6   150.5    
- March      129.0       156.1*      139.5   237.0    
- June       138.1*      157.5       139.5   155.0    
• Sept.      11*0.7      166.2       11*0.0  157.9    
- Dec.       11*3.0      170.5       11*0.0  160.0    
191*5        11*5.8      179.0       11*6.3  161*.lt  
- March      11*1*.5     173.8       11*0.9  162.5    
- June       11*5.8      180.3       11*1*.7 168.2    
--- Sept.    146.8       183.6       11*7.1  16J.8    
- Dec.       11*8.3      182.5       158.5   168.0    
191*6                                                 
- March      150.2       177.1       i59.$   17o.O    
• June                                                
- Sept.                                               
• Dec.                                                
191*7                                                 
- March                                               
^ - June                                              
- Sept.                                               
- Dec.                                                

V Annual averages are estimated» y June 1939 s 100.

SOURCE: United States Department of Labor, Bureau of Labor Statistics

20

INDEX NUMBERS OF RETAIL PRICES OF MISCELIANEOUS ITEMS 1/

NOTE* See p. 8           (1935-39 ■ 100)                               
       JIT               Chevro- Medical                              
Year   Miscella- Trans-  let     Care    House-    Recreation Personal
and    neous     porta-  Automo- and     hold          3/     Care    
Month  Items     tion    bile 2/ Drugs   Operation                    
1335     98.1    98.li   97.2    99.0    200.li       96.7     91*.9  
1936     98.7    99.3    99.5    99.3    99.6        97.1*    96.1 -  
1937   201#0     102,0   100.3   100.3   200.2     100.2      101.7   
1938   101.5     101.7   2011.2  100.6   100.2     102.5      2O1*.O  
1939   100.7     99.5    98.8    100.7   99.1i     103.1*     203.6   
June   100.1*    99.3    99.3    200.8   99.li     102.6      103.7   
191*0  101.1     98.8    97.3    200.8   99.2      105.9       203.1* 
Dec#   101.8     99.1i   99.7    200.8   99.1      108.6      103.1   
191*1  io!*.o    102.1   103.1   101. Il 100.9     108.8      206.1   
Dec#   107.7     • 107.1 113.3   102.3   105.3     110.3      111.7   
191*2  110.9     110.6           1011.2  107.6     113.0      116.1*  
June   110.9     Ul.!i           2011.0  107.6     112.1*     115.8   
Sept#  111.1*    U0#7            205.1   108.1     113.3      118.1*  
191*3  125.8     110.6           109.2   112.9     120.9       128.3  
June   115.7     110.1*          209.1*  111.6     121.0       127.9  
191*1* 121.3     110.7           112.6   117.9     129.1*      137.1* 
March  119.1     110.6           111.8   116.2     121J.7      131*.7 
June   121.7     110.8           112.5   118.5     130.8      138.0   
Sept#  122.1*    110.8           113.2   118.8     132.1      139.1   
Dec#   123.1     110.8           113.8   119.5     133.6      139.7   
191*5  121*.l    110.6           115.3   120.6     131*.7      11*1.7 
March  123.6     110.6           1111.7  219.8     131*.2      11*0.5 
r June 1211.0     110.5          115.2   120.1*    131*.8     11*1.1* 
Sept.  121*.6    110.7           115.7   121.3     135.3       11*2.9 
Dec.   1211.8    110.11          216.7   121.5     235.0      11*3.1* 
191*6                                                                 
March  125.9-    111.5           118. ^  _122.ll      J&2-            
June                                                                  
Sept.                                                                 
Dec.                                                                  
191*7                                                                 
March                                                                 
June                                                                  
Sept.                                                                 
Dec#                                                                  

     ]7 Annual data are estimates#
     W Ford and Plymouth are also priced when included in the index# This item was selected from the Transportation Group.
     2/ Available monthly from June 19h5.

SOURCE; United States Department of Labor, Bureau of Labor Statistics

21




























(Space Reserved for Additional Series)

22

INDEX NUMBERS OF RETAIL PRICES OF COMMODITIES AND SERVICES IN THE CONSUMERS • PRICE INDEX 1/     
NOTEr See p. 8                                                        (June 1939 s 100)______    
               Consu-               All                                                         
Year           mers*                Com-               Services                                  
and            Price                modi-              Including                       Excluding
Month          Index                ties               Rent                                 Rent
1935           99.5                 102.6              94.1                 98.8                
1936           100.5                103.6              95.1                 98.3                
1937           104.2                107.8              97.9                 99.3                
1938           102.2                103.5              99.9                 100.1               
1939           100.8                101.3              100.0                98.8                
Aug.           100.0                              99.9 100.0                100.0               
1940           101.6                102.5              100.3                100.1               
1941           106.7                109.7              101.8                101.3               
Jan.           102.2                103.2              100.8                100.7               
Dec.           112.1                116.9              103.7                103.0               
1942           118.2                125.8              105.3                106.1               
May            117.6                124.7              105.7                105.4               
Sept.          119.5                127.8              105.3                106.5               
Oct.           120.7                129.7              - 105.5              107.0               
1943           125.4                136.4              107.1                110.3               
May            126.9                139.2              106.8                109.5               
1944           127.3                133.1              109.9                115.9               
Jan.           126.0                136.7              108.5                113.0               
Feb.           125.6                135.9              108.7                113.4               
Mar.           125.6                135.9              108.9                113.7               
Apr.           126.4                136.6              109.9                115.9               
May            126.9                137.2 ■            110.1                116.2               
June           127.2                137.8              110.2                116.4               
July           127.9                138.9              110.3                116.7               
Aug.           128.2                139.4              110.3                116.7               
Sept.          128.3                139.5              110.4                117.0               
Oct.           128.3                139.3              110.5                117.2               
Nov.           128.4                139.4              110.5                117.3               
Dec.           128.8                140.2              110.5                117.2               
1945           130.2                142.1              111.0                118.3               
Jan.           128.9                140.2              110.6                117.5               
Feb.           128.7                139.8              110.7                117.6               
Mar.           128.6                139.6              110.8                '117.8              
Apr.           128.9                140.2              110.9                118.0               
May            129.9                U1.7               110.9                118.1               
June           130.8                143.3              111.0                118.3               
July           131.2 '              143.9              111.1                118.5               
Aug.           131.1                143.6              111.2                118.7               
Sept.          130.7                142.9              111.3                118.9               
Oct.           130.7                142.8              111.3                118.9               
Nov.           131.1                143.3              111.3                118.8               
Dec.           131.7                144.4              111.4 .              119.0               

23

INDEX NUMBERS  OF RETAIL PRICES OF COMMODITIES AND SERVICES IN THE COhSUMERS ’ PRICE INDEX 1/    
NOTE» See p. 8 (June 1939 = 100)                                                                 
               Consu-     All                                                                   
Year           mers’      Com-                                   Services                       
and            Price      modi-                  Including    Excluding                          
Month______•   Index      ties                   Rent                              Rent         
1946                                                                                            
Jan»           131.7      144.3                  111.8                    119.7                 
Feb.           131.h      110.7                  111.8                    119.8                 
Mar.             U3ZÆ.    Mi                     112.1                    120.3                 
Apr.             132*8    145.8                  112.1                            -izoa.        
May                       -- •                                                                  
June                                                                                            
July                                                                                            
Aug.                                                                                            
Sept.                                                                                           
Oct.                                                                                            
Nov.                                                                                            
Dec.                                                                                            
1947                                                                                            
Jan.                                                                                            
Feb.                                                                                            
Mar.                                                                                            
Apr,                                                                                            
May                                                                                             
June                                                                                            
July                                                                                            
Aug.                                                                                            
Sept.                                                                                           
Oct.                                                                                            
Nov.                                                                                            
Dec.                                                                                            

J/ 1935-39 and January 1941 are estimates«
    1942 is a ten-month average for commodities and services .

   Sources United States Department of Labor, Bureau of Labor Statistics

21»

PRICES


Wholesale Prices

       The Wholesale price series are compiled by the Bureau of Labor Statistics, United States Department of Labor, and published in the Monthly Labor Review and in mimeographed releases« The series are based on commodity prices in primary markets; that is wholesale price data for the most part represent prices prevailing in the ’’first commercial transaction” — prices quoted in primary markets, at principal distribution points«

       Weekly, monthly and annual series cover commodity prices of about 889 individual items, classified into subgroups of closely related articles and into major categories, as well as into one composite series for all wholesale prices« The major groups ares (1) farm products, (2) foods, (3) hides and leather products, (u) textile products, (5) fuel and lighting materials, (6) metals and metal products, (7) building materials, (8) chemicals and allied products, (9) housefurnishing goods, and (10) miscellaneous commodities. In addition to the major groups, the Handbook includes two other broad classifications« The first is"Tase3~on origin of the coninodity, showing: (1) All commodities other than farm products and (2) all commodities other than farm products and foods« The second is based on stage of manufacture, showing: (1) raw materials, (2) semi-manufactured articles and (3) finished products.

       The weekly, monthly and annual indexes are calculated independently of each other; that is, the annual indexes are not calculated directly as averages of the monthly, nor are the monthly indexes calculated directly from the weekly. Each index is computed from actual prices or an average of actual prices. The weekly index is based on prices of the individual items as of a particular day of the week. The monthly index is computed from averaged weekly prices for the month. Similarly, annual indexes are confuted from weighted weekly prices for the year. The monthly and annual indexes are shown in the Handbook.

       In the construction of the indexes the prices are weighted according to the importance of each article in the country’s markets. The quantity weights are used in the customary weighted aggregate method with a fixed base. For a detailed description of the construction of the various indexes, see the serial reprint R-666 of the Bureau of Labor Statistics "Revised Method of Calculations of the Wholesale Price Index of the United States

       Bureau of Labor Statistics”.


25

RELATIVE IMPORTANCE OF GROUPS IN THE COMBINED INDEX OF WHOLESALE PRICES 1/ YEAR AVERAGE 191*5

Major Groups and Subgroupe              Pereant

Major Groups and Subgroups            Percent

All Commodities.......¿............... 100.00

Raw Materials............................ 32.71
Semi-manufactured Articles.............. 7*58
Manufactured Products.................... 59*71

All Commodities Other Then Farm Products...................... 78*26
All Commodities Other Than Farm Products and Food............. 59*89

Fuel and Lighting Materials........ 13.95
     Anthracite.......................... 1.21*
     Bituminous Coal...................... lull
     Coke................................ 1.02
     Electricity.......................... 1.46
     Gas.................................  *70
     Petroleum and Products.............. 5.1*2

Tarn Products........................ 21.71*
     Grains................................ 3*29
     Livestock and     Poultry.............  7*20
     Other Farm   Products................. 11*35

Metals and Metal Products........... 13*81
     Agricultural Implements.............   *37
     Iron and Steel....................... 5*98
     Motor Vehicles...................... 5.51*
     Nonferrous Metals.................... 1*67
     Plumbing and Heating.................. *25

Foods................,................ 18*37
     Dairy Products......................... 2*27
     Cerosi Products......................   3*31
     Fruits and Vegetables................. 1.1*8
     Meats.................................. 6*71*
     Other Foods............................ U*57

Iides and Leather Products............. 3*13
     Shoes.................................. 1*80
     Hides and Skins......................... *53
     Leather..............................   *61*
     Other Leather Products.................. *36

IsxlAla-Ziadasls...................... ⁸ *52
     Clothing.............................   2.27
     Cotton Goods............................ 2*65

Hosiery and Underwear................ *71
Rayon............................... .31*
Silk...............................  *36
Woolen and Worsted Goods......... 1.51*
Other Textile Products............... *65

Building Materials..................
     Brick and Tile....... Cement.........................
     Lumber.........................
     Paint and Paint Materials......
     Plumbing and Heating (see Metals) Structural Steel (in Iron and Steel). Other Building Materials.......

Chemicals and Allied Products....... Chemicals........................... Drugs and Pharmaceuticals........... Fertiliser Materials................
     Mixed Fertiliser....................
     Oils and Fats.....................

Housefurnishing Goods.. Furnishings.........................
     Furniture...........................

Miscellaneous.......................
     Automobile Tires and Tubes.....
¹ Cattle Feed...................
     Paper and Pulp................. Rubber, Crude.................. Other Miscellaneous............


6*08

.1*6
*1*7
2*55

1.31

1.29

1.80
  .97 .19 .19 •20 .25

2*56 1.38 1.18

30.01*
2.27 . .71*
2.06


1/ Estimated 191*5 value in exchange expressed as percentage of aggregate value of all commodities.

Source* United States Department of Labor, Bureau of Labor Statistics

26

INDEX NUMBERS OF ÜÏHOIESALE PRICES OF SPECIAL GROUPS

NOTE: See p. 24                               (1926 « 100)                           
                                                                                 All
Year                         Stages of Manufacture       All           Commodities  
and          All            Raw    Semi-        Finished Commodities   Other Than   
Month        Commodities Materials Manufactured Products Other Than    Farm Products
                                   Articles              Farm Products     and Foods
1913         69.8        68.8      74.9         69.4     69.0          70.0         
1914         68.1        67.6      70.0         67.8     66.8          66.4         
July         67.3        67.3      67.8         66.9     65.7          65.7         
1915         69.5        67.2      81.2         68.9     68.5          68.0         
1916         85.5        82.6      118.3        82.3     85.3          88.3         
1917         117.5       122.6     150.4        109.2    113.1         114.2        
April        114.1       118.8     153.4        105.1    109.9         111.6        
1918         131.3       135.8     153.8        124.7    125.1         124.6        
Nov#         136.3       138.8     162.7        130.4    131.0         129.9        
1919         138.6       145.9     157.9        130.6    131.6         128.8        
1920         154.4       151.8     198.2        149.8    154.8         161.3        
1921         97.6        88.3      96.1         103.3    100.1         104.9        
1922         96.7        96.0      98.9         96.5     97.3          102.4        
1923         100.6       98.5      118.6        99.2     100.9         104.3        
192k         98.1        97.6      108.7        96.3     97.1          99.7         
1925         103.5       106.7     105.3        100.6    101.4         102.6        
1926         100.0       100.0     100.0        100.0    100.0         100.0        
1927         95.4        96.5      94.3         95.0     94.6          94.0         
1928         96.7        99.1      94.5         95.9     94.8          92.9         
1929         95.3        97.5      93.9         94.5     93.3          91.6         
1930         86.4        84.3      81.8         88.0     85.9          85.2         
1931         73.0        65.6      69.0         77.0     74*6          75.0         
1932         64.8        55.1      59.3         70.3     68.3          70.2         
1933         65.9        56.5      65.4         70.5     69.0          71.2         
1934         74.9        68.6      72.8         78.2     76.9          78.4         
1935         80.0        77.1      73.6         82.2     80.2          77.9         
1936         80.8        79.9      75.9         82.0     80.7          79.6         
1937         86.3        84.8      85.3         87.2     86.2          85.3         
1938         78.6        72.0      75.4         82.2     80.6          . 81.7       
1939         77.1        70.2.     77.0         80.4     79.5          81.3         
Aug#         75.0        66.5      74.5         79.1     77.9          80.1         
1940         78.6        71.9      79.1         81.6     80.8          83.0         
1941         87.3        83.5      86.9         89.1     88.3          89.0         
Jan#         80.8        74.6      81.3         83.5     82.7          84.3         
Dec#         93.6        92.3      90.1         94.6     93.3          93.7         
191*2        98.8        100.6     92.6         98.6     97.0          95.5         
May          98.8        99.7      92.9         99.0     97.4          95.7         
Sept#        99.6        102.2     92.9         99.2     97.7          95.5         
Oct#         100.0       103.0     92.7         99.4     97.9          95.5         
191*3        103.1       112.1     92.9         100.1    98.7          96.9         
May          104.1       114.0     93.0         100.7    99.2 .        96.7         
19U*         104.0       113.2     94.1         100.8    99.6          98.5         
Jan#         103.3       112.2     93.2         100.2    99.1          97.8         
Feb#         103.6       112.8     93.4         100.4    99.3          98.0         
March        103.8       113.4     93.7         100.5    99.3          98.1         
April        103.9       113.2     93.6         100.8    99.6          98.4         
May          104.0       U3.0      93.7         100.9    99.7          98.5         
June         104.3       114.2     93.8         100.9    99.6          98.5         
July         104.1       113.6     93.9         100.9    99.6          98.5         
Aug#         103.9       112.7     94.1         100.9    99.7          98.6         
Sept#        104.0       112.8     94.7         100.9    99.7          98.6         
Oct#         104.1       113.2     94.8         101.0    99.8          98.7         
Nov#         104.4       113.8     94.8         101.1    99.9          98.8         
Dec#         104.7       114.6     94.8         101.1    100.0         98.9         

27

INDEX NUMBERS OF WHOLE SALE PRICES OF SPECIAL GROUPS

NOTE: See p. 21             (1926 = 100)                                      
                                                                     All     
Tear                  Stages of Manufacture       All            Commodities 
and       All        Raw       Semi-     Finished Commodities   Other Ihan   
Month Commodities Materials Manufactured Products 'Other Than   Farm Products
                              Articles            Farm Products and Foods    
1915  105.8       116.8         95.9     101.8    100.8         99.7         
Jan«  101.9       115.1         91.9     101.3    100.1         99.1         
Feb«  105.2       115.6     95.0         101.5    100.2         99.2         
March 105.3       115.7     95.0         101.6    100.1         99.2         
April 105.7       116.8     95.0         101.8    100.5         99.3         
May   106.0       117.7     95.0         101.8    100.6         99.1         
June  106.1       118.2         95.1     * 101.8  100.7         99.6         
July  105.9       117.5         95.3     101.8    100.7         99.7         
Aug.  105.7       116.3         95.5     101.8    100.9         99.9         
Sept« 105.2       121.8         96.5     101.7    100.9         99.8         
Oct«  105.9       116.6     96.8         101.9    101.0         100.1        
Nov.  106.8       118.9         96.9     102.2    101.3         100.2        
Dec«  107.1       119.2     97.6          102.5   101.6         100.5        
1916                                                                         
Jan«  107.1       118.3     97.6         102.9    101.9         100.8        
Feb«  107.7       118.9         98.8      103.1   102.5         101.3        
March 108.9       120.5        100.1     101.5    103.1         102.2        
April 110.2       122.2        101« 1    J&£      Mt.;             JUBal.    
May                                               z                          
June                                              e                          
July                                                                         
Aug«                                                                         
Sept«                                                                        
Oct«                                                                         
Nov«                                                                         
Dec«                                                                         
w                                                                            
Jan«                                                                         
Feb«                                                                         
March                                                                        
April                                                                        
May                                                                          
June                                                                         
July                                                                         
Aug.                                                                         
                                                                             
Sept«                                                                        
Oct«                                                            ---------    
Nov«                                                                         
Dec«                                                                         

SOURCE: United States Department of Labor, Bureau of Labor Statistics

28

             INDEX NUMBERS OF WHOLESALE PRICES OF FARM PRODUCTS
NOTE: See p. 24                     (1926 =10O)                
Tear   Livestock           Other                                                
and    All Farm          Grains             and               Farm              
Month  Products                            Poultry           Products           
1913   . 71.5              71.1               73.2               70.8           
1911*  71.2               77.1                71*.6                66.7         
July   71.1*               69.6                76.8                69.2         
1915   71.5             93.8              68.8              63.3                
1916   81*.l*                 99.6                  82.8                  78.1* 
1917   129.0              170.1*               119.1*               116.2       
April  125.1            169.3              120.0              108.1             
1918   11*8.0               168.6                12*1.0                12*2.1 • 
Nov.   150.3              158.0               12*0.1*               151.9       
1919   157.6              177.1*               12*8.7               153.0       
1920   150.7              176.1*       .      125.1               155.3         
1921   88.1*               89.1                78.2                93.8         
1922   93.8               85.0                83.2               103.1*         
1923   98.6             88.0              77.7              116.7               
1921:  100.0             100.6              79.3             1H*.2              
1925   109.8              118.3                98.9               111*.5        
1926   100.0            100.0              100.0             100.0              
1927   99.1*             100.9                98.9          "     99.2          
1926   105.9              107.3               105.1*               105.8        
1929   101*.9                97.1*                106.1                106.6 ’  
1930   88.3              78.3               89.2              91.1              
1931   61*.8               53.0                63.9                69.2         
1932   1*8.2                 39.1*                  1*8.2                  51.1*
1933   51.1*                53.1                 1*3.1*                 55.8    
1931*  65.3               71*«5                51.5                70.5         
1935   78.8               82.5                85.1               73.1*          
1936   80.9               88.3                 81*.7                76.0        
1937   86.1*               98.3                95.5                77.2         
1938   68.5             60.6              79.0              63.9                
1939   65.3*             58.6              72.2              62.6               
Aug«   61.0              51.5 -'            66.0               60.1             
191*0  67.7              68.0               69.2              66.1              
191*1  82.1*               76.9                91.6                77.8         
Jan«   71.6             67.6              83.0              65.3                
Dec«   91*.7               : 91.0                  97.1*                  93.1* 
191*2  105.9              92.9              117.8              101.6            
May    101*.1*               92.2               117.6                99.0       
Sept«  107.8              93.6             122.1             102.2              
Oct«   109.0                91.5                123.1*                101*.1*   
191*3  122.6             116.3              128.7              119.8            
May    125.7            U3.1             130.5             125.2                
191*1* 123.3              126.9               121*«6               120.7        
Jan«   121.8             129.5              120.8              119.5            
Feb.   122.5             129.3              123.3              119.3            
March  123.6             129.5              125.6             119.9             
April  123.2            129.6              123.6              120.3             
May    122.9              129.7               122.6               120.1*        
June   125.0              127.2               123.0               121*«7        
July   121*.l              125.2               123.1*               123.2       
Aug.   122.6              122.5               125.1*               120.0        
Sept.  122.7             121.7              127.6              119.2            
Oct.   123.1*              125.1               127.1               119.9        
Nov.   121*«1*               121*.8                127.0                121.8   
Dec.   125.5             127.5              126.9              123.2            

29

INDEX NUMBERS OF WHOLESALE PRICES OF FARM PRODUCTS

NOTE: See p. 24  (1926 = 100)              
Year   All Farm         livestock    Other
and    Products  Grains    and      Farm  
Month                    Poultry  Products
2945  128.2      129.7  232.5     124.3   
Jan.  126.2      129.3  131.1     121.5   
Feb.  127.0      129.8  133.8     121.4   
March 127.2      129.8  135.6     120.5   
April 129.0      130.5  236.4     123.2   
May   129.9      129.1  135.5     125.9   
June  130.4      130.2  134.4     127.2   
July  129.0      128.6  133.3     125.5   
Aug.  126.9      126.4  130.7     123.7   
Sept. 124.3      126.6  128.5     120.3   
Oct.  127.3      230.2  130.5     123.6   
Nov.  131.1      132.9  231.8     129.3   
Dec.  131.5      233.2  129.6     131.3   
2946                                      
Jan.  129.9      133.8  131.5     126.9   
Feb.  130.8      133.9  132.7     127.9   
March 133.4      236.7  133.5     131.4   
April 135.4      137.0  135.1     134.2   
May                                       
June                                      
July                                      
Aug.                                      
Sept.                                     
Oct.                                      
Nov.                                      
Dec.                              t       
2947                                      
Jan.                                      
Feb.                                      
March                                     
April                                     
May                                       
June                                      
July                                      
Aug.                                      
Sept.                                     
Oct.                                      
Nov.                                      
Dec.                                      

        SOURCE: United States Department of Labor, Bureau of Labor Statistics

30

                INDEX NUMBERS OF WHOLESALE PRICES OF FOODS
NOTE: See p. 2b (1926 = 100)                              
Year                  Fruits                                                                 
and         All       Dairy           Cereal . / and         -/ Meats          Other         
Month        Foods    Products        Products ---'    Vegetables                       Foods
1913         64.2     65.9          - -              - -           59.8          65.9        
1914         64.7     62.9          - ”              “ -           62.6          66.0        
July       62.9       58.2          - -              - -           63.5           63.4       
1915        65.4      62.4          - -              - -           57.6           71.0       
1916         75.7     69.7          - -              - -           66.4          83.3        
1917       104.5      91.5           - -               - -           92.9          116.1 *   
April    .102.1       89.3          - -              - -           86.1         116.5        
1918        119.1     110.3          - -              - -          115.2         123.8       
Nov.       128.6      134.6           - -               - -          120.8          130.4    
1919        129.5     125.1          - -               - -          117.6          138.0     
1920        137.4     125.2          - -              - -          108.0         157.9       
1921         90.6     97.5           - -               - -           77.4           94.3     
1922         87.6     91.4           - -               - -           76.6           93.6     
1923         92.7     103.4          - -            --- -          76.2          99.6        
1924         91.0     94.5          - -              - -          75.7         100.0         
1925        100.2     101.1          - -              - ^          93.3          104.5       
1926        100.0     100.0         100.0            100.0        100.0          100.0       
1927        96.7      103.9          94.4             96.7         92.7          98.0        
1928        101.0     105.5           93.6              96.5         107.0           97.6    
1929         99.9     105.6          88.0             97.8        109.1          93.9        
1930         90.5     95.5           81.5              96.6          98.4           80.9     
1931         74.6     81.8          73.1             72.4         75.4          69.8         
1932         61.0     61.3          66.4             58.0         58.2          60.7         
1933         60.5     60*7          75.0             61.7         50.0          61.1         
1934         70.5     72.7          88.7             67.5         62.9          66.6         
1935         83.7     79.8           94.1             63.6          94.5           77.7      
1936         82.1     83.9         186.2              71.9          87.8           75.9      
1937         85.5     83.1           87.6              74.2          99.1           75.6     
1938         73.6     72.8           78.4              58.2          83.3           67.5     
1939         70.4     69.5           74.8              62.0          77.2           64.1     
Aug.        67.2      67.9          71.9             58.5          73.7          60.3        
1940         71.3     77.6           78.3              63.1          73.3           63.5     
1941         82.7     87.3           80.7              67.5          90.4           78.9     
Jan.        73.7      80.2           74.8              59.6          83.2           64.5     
Dec.        90.5      95.5-           89.3               73.8          95.3           89.2   
1942         99.6     100.0           89.2              95.5         111.8           92.3    
May         98.9      93.5           89.0              96.7         114.8           90.6     
Sept.      102.4      105.5           89.1              97.5         116.0           94.0    
Oct.       103.4      109.2          89.3             98.2        115.5           954        
1943        106.6     111.1           93.7             121.3         110.3           97.3    
May        110.5      113.1          93.6            137.7        115.9          96 4        
19hh        1DU.9     110.5           9b.8             121.3         106.1           95.0    
Jan.       104.9      110.6          95.1            118.4        106.0          96.1        
Feb.       104.5      110.7          95.1            120.7        106.0          93.5        
Mar.       104.6      110.5           95.1             123.3         106.0           92.7    
Apr.        104.9   , 110.2           95.2             126.5         106.2           92.2    
May        IO5.O      110.3           95.0             126.8         106.6           91.9    
June       106.5      110.3          94.7            137.7        106.1          93.0        
July      105.8       110.3           94.3             129.9         105.9           94.7    
Aug.       104.8      110.5           94.3             122.8         105.9           94.1    
Sept.      IO4.2      110.7          94 4             115.9        106.0          95.5       
Oct.        I04.2     110.7          94.7            112.7        106.0          96.8        
Nov.       IO5.I      110.7           94.7         '   113.7         106.1           99.3    
Dec.       IO5.5      110.7           94.7             116.2         106.2           99.7    

31

INDEX NUMBERS OF WHOLESALE PRICES OF FOOLS

1 NOTE: See P. 2U          (1926 • 100)                               
■ Tear                                  Fruits                        
I and       All   Dairy    Cereal w     and           Meats  Other    
I Month     Foods Products Products     Vegetables 1/        Foods    
I 1945      106.2 111.1    95.2         122.8         107.8  96.6     
Jan.        104.7 110.8    94.7         1U4           106.4  97.3     
Feb.        104.7 110.8    94.9         118.1         106.5  95.1     
I Mar.      104.6 110.8    95.1         115.9         107.7  94.7     
Apr.        105.8 110.7    95.4         123.4         108.2  94.7     
May         107.0 110.6    95.4         131.4         108.6  94.7     
June        107.5 110.5    95.5         134.7         108.3  95.1     
July        106.9 110.5    95.3         130.3         108.0  95.6     
Aug.        106.4 110.6    95.1         124.3         107.9  96.8     
Sept.       104.9 110.3    95.1         117.5         107.9  94.9     
Oct.        105.7 110.4    95.3         116.3         107.9  98.5     
Nov.        107.9 113.2    95.5         123.8         107.9  100.7    
Dec.        108.6 113.8    95.7         128.7         107.9  100.6    
1946                                                                  
Jan.        107.3 115.0    95.8         125.7         108.1  96.2     
Feb.        107.8 • 115.8  96.1         127.5         "108.1 96.5     
   Mar.     109.4 116.1    96.2         133.1         109.6  97.7     
Apr.        110.6 116.3    99 Ji        138,2         -MaX   ... 97.1,
May         1                                                         
June                                                                  
July                                                                  
Aug.                                                                  
Sept.                                                                 
Oct.                                                                  
Nov.                                                                  
Dec.                                                                  
1947                                                                  
Jan.                                                                  
Feb.                                                                  
Mar.                                                                  
Apr.                                                                  
May                                                                   
June                                                                  
July                                                                  
Aug.                                                                  
Sept.                                                                 
Oct.                                                                  
Nov.                                                                  
Dec.                                                                  

1/ Not computed as separate subgroups prior to 1926

   Source: United States Department of Labor, Bureau of Labor Statistics

32

INDEX NUMBERS OF WHOIESAIE Hi ICES OF HIDES AND LEATHER PRODUCTS

NOTE» See p. 24             (1926 a 100)             
Year   All Hides                            Other   
and    and Leather Shoes  Hides and Leather Leather 
Month  Products           S^ins             Products
1913   68.1         54.5  106.8     69.1    50.8    
1914   70.9         56.3  113.4     72.5    51.4    
July   69.7         56.0  107.2     72.5    51.4    
1915   75.5         58.6  126.2     75.8    55.3    
1916   93.4         69.1  151.5     107.2   64.5 *  
1917   123.8        91.5  201.3     141.9   85.3    
April  127.9       93.3   207.1     152.0   84.9    
1918   125.7       97.9   194.2     135.3   97.2    
Nov.   131.6       108.6  190.5     137.3   101.1   
1919   174.1       134.7    267.4   187.5   133.1   
1920   171.3       151.1    206.7   188.2   140.8   
1921   109.2       111.5    89.5    111.7   118.6   
1922   104.6       98.1     115.8   105.2   113.5   
1923   104.2       99.1     117.6   104.1   103.7   
1924   101.5       98.4   110.2     99.8    103.7   
1925      105.3    100.5    118.7   104.8   102.8   
1926   100.0       100.0  100.0     100.0   100.0   
1927   107.7       102.6    120.3   109.2   102.8   
1928   121.4       109.9  148.6     126.3   108.2   
1929 ' 109.1       106.3  112.7     113.2   106.4   
1930   100.0       102.0  91.0      101.3   105.5   
1931      86.1     93.7   60.2      86.2    101.4   
1932      72.9     86.1   42.1      65.1    90.1    
1933      80.9     90.2   67.1      71.4    81.1    
1934   86.6        98.1   68.6      75.0    86.6    
1935   89.6,       98.0   80.8      80.1    85.0    
1936      95.4     99.8   94.6      85.6    95.5    
1937   104.6       105.0  113.5     96.8    102.6   
1938      92.8     102.2  73.6      83.7    98.5    
1939   95.6        102.6  84.6      87.5    97.1    
Aug.   92.7        100.8  77.2      84.0    97.1    
1940   100.8       107.6  91.9      92.5    99.9    
1941   108.3       113.5  108.4     97.9    104.7   
Jan.   102.4       107.4  99.1      94.4    99.7    
Dec.   114.8       120.7  115.9     101.3   112.8   
1942   117.7       125.7  117.6     101.3   114.9   
May    118.8       126.6  121.4     101.3   115.2   
Sept.  118.1       126.4  118.0     101.3   115.2   
Oct.   117.8       126.4    116.0   101.3   115.2   
1943   117.5       126 «4 114.7     101.3   115.2   
May    117.8       126.4    116.0   101.3   115 .2  
1944      116.7    126.3    109.9   101.3   115.2   
Jan.   117.2       126.4    112.9   101.3   115.2   
Feb.   116.9       126.4  111.0     101.3   115.2   
Mar.   116.9       126.3  111.2     101.3   115.2   
Apr.   116.9       126.3  111.2     101.3   115.2   
May    117.0       126.3    111.9   101.3   115.2   
June   116.4       126.3  108.4     101.3   115.2   
July   116.2       126.3  106.8     101.3   115.2   
Aug.   116.0       126.3  105.7     101.3   115.2   
Sept.  116.0       126.3  106.1     101.3   115.2   
Oct.   116.2       126.3  107.3     101.3   115.2   
Nov.   116.2       126.3  107.1     101.3   115.2   
Dec.   117.4       126.3  114.0     101.3   115.2   

33

INDEX NUMBERS OF WHOIESAIE PRICES OF HIDES AND LEATHER HiODUCTS

NOTE: See p. 2k             (1926 a 100)             
Year    All Hides                           Other   
and     and Leather Shoes Hides and Leather Leather 
■Month  Products            Skins           Products
1945    118.1       126.4 117.0     102.2   115.2   
■ Jan.  117.5       126.3 114.8     101.3    115.2  
1 Feb‘  117.6       126.3 115.4     101.3   115.2   
■ Mar.  117.8       126.3 116.4     101.3   115.2   
I Apr.  117.9       126.3 117.0     101.3   115.2   
1 May   117.9       126.3 117.0     101.3    115.2  
| June  118.0       126.3 117,3     101.3   115.2   
1 July  118.0       126.3 117.6     101.3   115.2   
1 Aug.  118.0       126.3 117.8     101.3    115.2  
1 Sept. 118.7       126.3 118.1     103.8    115.2  
■ Oct.  118.6       126.3 117.6     103.8    115.2  
■ Nov.  118.8       126.7 117.6     103.8    115.2  
1 Dec»  118.9       126.9 117.6     104.1    115.2  
1946                                                
1 Jan.  119.4       127.9 117.6     103.8    115.2  
1 Feb.  119.6       128.2 117.6     103.9    115.2  
1 Mar.  119.8       128.6 117.6     lok.o   115.2   
I Apr.  -112A       128,6 117.6     _iok.o_ 115.2   
I May                                               
1 June                                              
I July                                              
I Aug.                    -                         
I Sept.                                             
I Oct.                                              
I Nov.                                              
1 Dec.                                              
1947                                                
1 Jan.                                              
I Feb.                                              
1 ^r*                                               
I Apr.                                              
1 May                                               
1 June                                              
I July                                              
1 Aug.                                              
I Sept.                                             
: Oct.                                              
Nov.                                                
Dec.    ---                                         

  Source: United States Department of Labor* Bureau of Labor Statistics






697283 0—46_____3

3b

4 INDEX NUMBERS OF WHOIESAIE Ri ICES OF TEXT HE PRODUCTS

NOTE: See p. 2b            (1926 4 100)                                      
                                                            Woolen          
Year  All                         Hosiery                   and     Other   
and   Textile              Cotton and                       Worsted Textile 
Month Products Clothing 1/ Goods  Underwear Silk 2/ Rayon   Goods   Products
1*13  57.3                 58.0   - «i       71.8   OB SB   53.7    62.7    
1914  54.6     --- ---     56.0   sb sb      71.3   OB OB   50.5    55.0    
July  55.3     * as        57.1   SB SB      73.6   SB SB   50.6    52.0    
1915  54.1     » SB        52.3   s. a.     68.3    SB SB   55.0    60.3    
1916  70.4     • •         68.7   * SB       87.1   SB SO   70.4    81.9    
1917  98.7     •• ---      98.7   * SB       98.4   OB SB   101.7   132.2   
April 88.1     SB SB       87.9   SB OB      94.9   * SB    90.3    107.8   
1918  137.2    ss e»       146.6  SB *      116.4   OB SB   138.6   169.7   
Nov.  142.6    SB SB       154.1  BB SB     125.2   BB SB   147.2   144.5   
1919  135.3    SB SB       147.5  8» Ba     145.5   SO SB   124.3   124.2   
1920  164.8    ■1 SB       190.7  WB SB     162.7   --- --- 153.7   104.5   
1921  94.5     SB SB       99.5   sb s»     110.5   --- -   91.9    63.1    
1922  ICO.2    SB «V       104.3  SB BB     121.0   so so   95.7    70.8    
1923  111.3    * «         116.9  * ---     129.5   so so   107.5   77.4    
1924  106.7    --- «       114.7  --- BB    103.1   SB OB   106.8   87.1    
1925  108.3    --- SB      110.0  M BB      104.5   SB SB   110.2   104.1   
1926  100.0    1C0.0       1C0.0  100.0     100.0    100.0  100.0   100.0   
1927  95.6 i   95.8        97.1   91.9       87.9   82.9    97.8    98.2    
1928  95.5     93.2        100.4  90.1       83.7   83.6    100.1   95.4    
1929  90.4     90.0        98.8   88.5      82.7    68.4    88.3    93.1    
1930  80.3     86.2        84.7   80.0      60.3    57.9    79.0    84.2    
1931  66.3     75.9        66.1   60.9      43.7    41.2    68.2    75.1    
1932  54.9     63.0        54.0 ' 51.6      29.5    35.4    57.7    67.9    
1933  64.8     72.2        71.2   58.9      29.8    33.0    69.3    72.5    
1934  72.9     82.5        86.5   63.2      25.1    31.9    79.7    73.1    
1935  70.9     79.8        83.4   61.. 8    30.3    31.2    76.1    68.5    
1936  71.5     81.1        ' 80.3 61.2       31.5   31.8    82.9    67.0    
1937  76.3     87.9        • 84.3 65.1       32.7   33.3    91.1    68.4    
1938  66.7     82.9        65.4   60.3       29.6   28.9    77.4    65.5    
1939  69.7     82.0        67.2   61.4       46.1   28.8    79.8    69.2    
Aug.  67.8     81.5        65.5   61.5      44.3    28.5    75.5    63.7    
1940  73.8     85.2        71.4   62.3       46.8   29.5    85.7    . 74.5  
1941  84.8     92.6        94.2   63.1         y    29.7    96.6    90.7    
Jan.  75.2     86.6        75.8   59.9      42.5    29.5    89.2    74.8    
Dec.  91.8     98.4        107.5  67.0      BB BB   30.3    102.7   96.2    
1942  96.9     106.9       112.4  70.5      " BB    30.3    110.4   97.9    
May   98.0     109.6       112.9  71.9      BB SB   30.3    111.0   98.3    
Sept. 97.1     107.0       112.7  69.7      B* BB   30.3    111.7   97.8    
Oct.  97.1     107.0       112.4  70.5      AN *    30.3    111.7   97.4    
1943  97.4.    107.0       112.7  70.8      SB BB   30.3    112.5   98.8    
May   97.4     107.0       112.6  70.5      SB SB   30.3    112.5   98.7    
'1944 98.4     107.1       115.7  70.9      SB SB   30.2    112.7   100.6   
Jan.  97.7     107.0       112.9  71.7      «B BB   30.3    112.5   100.5   
Feb.  97.7     107.0       113.4  70.5      SB SB   30.3    112.5   ICO. 5  
Mar.  97.8     107.0       113.6  70.5              30.3    112.5   ICC. 5  
Apr.  97.8     107.0       113.9  70.5      «B OB   30.3    112.5   100.5   
' May 97.8     107.0       113.9  70.5      BO SS   30.3    112.5   100.5   
June  97.8     107.0       113.9  70.6      SB SB   30.3    112.5   100.5   
July  98.0     107.0       114.0  70.6      SB ••   30.3    112.9   100.5   
Aug.  98.4     107.0       115.9  70.6      SB as   30.3    112.9   100.5   
Sept. 99.2     107.0       118.7  70.8      •• OB   30.3    112.9   100.9   
Oct.  99.4     107.4       118.8  71.5      SB SB   30.3    112.9   ICO. 9  
Nov.  99.4     107.4       118.8  71.5      OB SB   30.2    112.9   100.9   
Dec.  99.5     107.4       119.2  71.5      --- •   30.2    112.9   100.9   

35

INDEX NUMBERS OF CHOIES ALE TRICES OF TEXTIIE PRODUCTS

1 NOTE: See p. 2h.                         (1926 s 100)                               
                                                                     Woolen          
i Year  All                                Hosiery                   and     Other   
1 and   Textile                  Cotton    and                       Worsted Textile 
I Month Products     Clothing 1/ Goods     Underwear   Silk 2/ Rayon Goods   Products
I 1945  100.1           107.4    121.4        71.7     ma «    30.2  112.7   101.1   
Jan.    99.6         107.4       119.7        71.5     •m *    30.2  112.7   100.9   
Feb.    99.7         107.4       119.9        71.5     am *    30.2  112.7   100.9   
Mar.    99.7         107.4       119.9        71.5     am am   30.2  112.7   100.9   
Apr,    99.6         107.4       119.7        71.5     am mm   30.2  112.7   100.9   
May     99.6         107.4       119.7     71.5        me am   30.2  112.7   100.9   
June    99.6         107.4       119.7        71.5     ma am   30.2  112.7   100.9   
July    99.6         107.4       119.7        71.5     me me   30^2  112.7   100.9   
Aug.    99.6         107.4       119.7        71.5     me ma   30.2  112.7   100.9   
Sept.   1C0.1           107.4    121.3        71.5     ma am   30.2  112.7   101.3   
Oct.    101.0        107.4           125.0    71.5     am am   30.2  112.7   101.4   
Nov.    101.1           107.4    125.1        71.5     ■ •     30.2  112.7   101.9   
Dec.    101.4           107.4    125.5     73.5        \ ■• “  30.2  112.7   101.9   
1 1946                                                                               
Jan.    101.6           107.4    125.6     75.2                30.2  112.7   101.9   
Feb.    102.2           109.4    125.8        75.3             30.2  112.7   102.0   
Mar.                     W.5     □32*1        75*5             30.2   112.7  109.6   
Apr.    JöZil                    137.6     .   7^              30.2  112 -7  . W»5.  
May                                                                                  
June                                                                                 
July                                                                                 
Aug.                                                                                 
Sept.                                                                                
Oct.                                                                                 
Nov.                                                                                 
Dec.                                                                                 
 1947                                                                                
Jan.                                                                                 
Feb.                                                                                 
Mar.                                                                                 
Apr.                                                                                 
May                                                                                  
June                                                                                 
July                                                                                 
Aug.                                                                                 
Sept.                                                                                
Oct.                                                                                 
Nov.                                                                                 
Dec.                                                                                 
1/ Not   computed as separate subgroup prior to 1926                                 
&f Includes Rayon through 1925                                                       
2/ Discontinued July 1941                                                            

Sourcet United States Department of Labor, Bureau of Labor Statistics

36

INDEX NUMBERS OF WHOLESAIE PRICES OF FUEL AND LIGHTING

NOTE: See p. 2k              (1926    s 100)                              
Year  All Fuel                                                   Petroleum
and   and       Anthracite Bituminous                            and      
Month Lighting  Coal       Coal       Coke   Electricity V Gas   Products 
1913  61.3      58.9       38.1       46.3        - -      78.1  73.3     
1914  56.6      59.6       34.8       37.5                 78.4  65.8     
July  55.7      59.0       34.8       38.4        * *      78.6  63.7     
1915  51.8      59.5       33.9       37.8       OB BB     78.3  54.1     
1916  74.3      63.9       55.5       52.0                 78.0  87.3     
1917  105.4     72.4       98.4       106.6                76.5  112.1    
April 99.9      63.1       94.5       97.3       bb ob     77.7  107.0    
1913  109.2     82.3       81.4       100.9     --- bb     79.4  135.3    
Nov.  114.3     97.5       81.9       104.2      BB BB     85.6  139.9    
1919  104.3     75.8       79.8       84.4       BB BB     86.4  128.0    
1920  163.7     92.5         165.4    162.3      BB BB     98.2  183.5    
1921  96.8      92.5       77.7       90.6       BB BB     115.6 104.4    
1922  107.3     95.3         113.1    119.1      BB BB     110.3 102.9    
1923  97.3      100.8        113.4    118.8      BB BB     104.8 82.6     
1924  92.0      98.6       99.7       97.2       bb OB     102.9 83.5     
1925  96.5      99.7       96.5       97.7       bb Be     101.9 95.0     
1926  100.0     100.0      100.0      100.0      100.0     100.0 100.0    
1927  88.3      96.3       100.3      94.4       102.9     98.0  72.7     
1928  84.3      91.7       93.6       84.6   96.6          94.9  72.0     
1929  83.0      90.1       91.3       84.6   94.5          93.1  71.3     
1930  78.5      89.1       89.4       84.0   97.7          97.3  61.5     
1931  67.5      91.1       84.6       82.4   98.8          98.7  39.5     
1932  70.3      88.4       82.0       77.7       104.7     101.3 45.4     
1933  66.3      82.2       82.8       77.9   94.3          97.5  41.0     
1934  73.3      80.1       94.5       84.8   91.8          93.4  50.5     
1935  73.5      79.7       96.7       88.6     .    87.8   89.3  51.3     
1936  76.2      80.5       97.4       94.7   83.4          85.2  57.3     
1937  77.6      77.8       98.6       103.1  80.4          82.4  60.5     
1938  76.5      78.0       99.0       104.8  84.9          86.1  55.9     
1939  73.1      75.8       97.5       105.6  78.6          84.1  52.2     
Aug.  72.6      72.1       96.0 x     104.2  75.8          86.7  51.7     
1940  71.7      78.9       97.6       110.2  74.5          82.0  50.0     
1941  76.2      82.7       104.3      119.3  68.3          78.6  57.0     
Jan.  72.1      81.1         100.4    113.8  72.5          77.5  50.0     
Dec.  78.4      85.3         108.0    122.2  67.4          77.4  59.8     
1942  73.5      85.5       109.7      122.1  63.8          78.4  59.8     
May   78.0      85.3         108.5    122.1  63.8          79.9  59.1     
Sept. 79.0      85.7       110.4      122.1  62.6          81.1  60.6     
Oct.  79.0      85.7         111.0    122.1  61.9          79.2  60.6     
1943  80.8      90.4         116.1    122.7  59.5          76.5  62.5     
May   80.8      89.7         116.1    122.4  59.5          77.5  62.5     
1944  83.0      95.6       120.3      130.3  59.6          77.2  63.9     
Jan.  82.3      95.0         119.8    126.2  59.4          76.7  63.5     
Feb.  83.1      97.'8        119.9    130.7  60.1          77.2  64.0     
March 83.0      95.6         120.1    130.7  59.0          76.7  64.0     
April 83.0      95.8       120.3      130.7  59.9          77.1  64.0     
May   83.2      96.4       120.4      130.7  59.0          78.4  64.0     
June  83.3      95.5       120.4      130.7  59.3          79.3  64.0     
July  83-2      95.4       120.5      130.7      59.5      78.9  64.0     
Aug.  *    83.2 95.4       120.5      130.7  59.0          76.0  63.9     
Sept. 83.0      95.4       120.6      130.7      60.3      76.8  63.8     
Oct.  82.9      95.2       120.5      130.7  59.6          76.0  63.8     
Nov.  83.1      95.3       120.5      130.7  60.1          77.3  63.8     
Dec.  83.1      95.3       120.5      130.7  59.9          74.6  63.8     

37

                    INDEX NUMBERS OF WHOLESALE PRICES OF FUEL AND LIGHTING               
NOTE: See p. 2k     (1926 s 100)                                                         
Year    All Fuel                                                               Petroleum
and     and         Anthracite    Bituminous                                   and      
Month   Lighting    Coal          Coal               Coke  Electricity •» Gas  Products 
1945    84.0        99.0          123.1              132.5 62.3           77.9 63.5     
Jan«    83.3        95.3          120.5              130.7 60.0           75.7 64.3     
Feb.    83.3        95.3          120.5              130.7 61.1           76.9 64.3     
March   83.4        95.3          120.6              130.7 59.0           77.7 64.3     
April   83.5        95.3          120.6              130.7 58.7           77.0 64.2     
May     83.7        95.6          123.2              130.7 53.5           76.4 64.2     
June    83.9        97.5          123.8              131.0 59.6           78.0 64.2     
July    84.3        101.6         123.9              131.0 60.3           77.8 64.2     
Aug.    84.8        101.8         124.7              134.0 61.5           78.0 64.2     
Sept.   84.1        102.2         124.7              134.9 65.5           80.2 62.6     
Oct.    84.2        102.2         124.8              134.9 66.7           79.8 62.1     
Nov.    84.6        102.2         124.8              134.9 68.0           79.1 61.7     
Dec.    84.8        103.4         125.0              134.9 68.7           77.7 61.6     
1946                                                                                    
Jan.    84.9        103.9         125.1              134.9 69.2           77.4 61.5     
Feb.    85.1        104.0         125.1              134.9 71.3           79.1 61.6     
March   ’_O_        M.Q           125.2              UU.9                 79.6 61.2     
April   86.1        M.o           125*2              X33.5                      _É2±ÎL  
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec.                                                                                    
1947                                                                                    
Jan.                                                                                    
Feb.                                                                                    
March                                                                                   
April                                                                                   
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept,                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec.                                                                                    
1/ Not  computed as separate subgroup prior to 1926                                     
Source: United States Department  of Labor, Bureau of Labor Statistics                  

38

INDEX NUMBERS OF WHOIESAIE PRICES OF METAIS AND METAL PRODUCTS

NOTE: See p. 2b            (1926 e 100)             
       All Metals                                  
Year   and        Agricul-   Iron           Non-   
and    Metal      tural      and   Motor    ferrous
Month  Products   Implements Steel Vehicles Metals 
1913 . 90.8          72.9    70.9  147.5    88.9   
1914   80.2       73.1       61.4  125.0    76.3   
July   79.1       73.1       59.5  124.9    75.1   
1915   86.3       71.2       64.7  115.5    108.6  
1916   116.5      71.0       1C9.7 107.6    160.2  
1917   150.6      86.3       176.7 110.4    165.7  
April  150.9      86.1       170.0 109.7    183.9  
1918   136.5      114.0      147.0 121.0    144.4 .
Nov.   143.5         1U.3    150.5  137.5   150.3  
1919   130.9      113.8      130.0 142.5    118.9  
1920   149.4        111.9    157.1 160.7    118.3  
1921   117.5        111.4    109.4 143.4    78.3   
1922   102.9      88.2       98.1  116.6    83.5   
1923   109.3      98.8       117.3 108.7    95.3   
1924   106.3      105.7      109.4 107.5    93.0   
1925   103.2      100.4      102.2 105.3    101.4  
1926   100.0      100.0      100.0 100.0    1C0.0  
1927 - 96.3       99.7       94.2  96.1     92.8   
1928 , 97.0       99.3       93.5  97.1     94.0   
1929   100.5      98.7       94.9  100.0    106.1  
1930   92.1       95.0       89.1  94.0     82.4   
1931   84.5       92.1       83.3    89.5   61.9   
1932   80.2       84.9       79.4  87.1     49.8   
1933   79.8          83.5    78.6  83.2     59.6   
1934   86.9       89.6       86.7  87.6     67.7   
1935   86.4       93.7       86.7    84.1   68.6   
1936   87.0       94.2       87.6    83.3   71.6   
1937   95.7       94.0       98.2    89.3   89.6   
1938   95.7          95.5    98.6    95.4   72.8   
1939   94.4          93.4    95.8    93.4   78.0   
Aug.   93.2          93.5    95.1  92.5     74.6   
1940   95.8          92.5    95.1    96.7   81.3   
1941   99.4          93.5    96.4  103.3    84.4   
Jan.   97.7       92.7       95.7  100.3    83.6   
Dec.   103.3         96.4    97.0  112.4    84.8   
1942   103.8         96.9    97.2  112.7    85.7   
May    103.9         96.9    97.2  112.8    85.6   
Sept.  103.8         96.9    97.2  112.8    86.0   
Oct.   103.8         96.9    97.2  112.8    86.0   
1943   103.8         96.9    97.2  .112.8   86.0   
May    103.8         96.9    97.2  112.8    86.0   
1944   103.8         97.3    97.2  112.8    85.8   
Jan.   103.7      97.0       97.1  112.8    85.9   
Feb.   103.7         97.0    97.1  112.8    85.8   
Mar.   103.7         97.1    97.1  112.8    85.8   
Apr.   103.7      97.2       97.1  112.8    85.8   
May    103.7      97.2       97.1  112.8    85.8   
June   103.7         97.2    97.1  112.8    85.8   
July   103.7         97.3    97.1  112.8    85.7   
Aug.   103.8         97.5    97.1  112.8    85.8   
Sept.  103.8         97.5    97.2  112.8    85.8   
Oct.   103.7         97.5    97.1  112.8    85.8   
Nov.   103.7      97.5       97.1  112.8    85.8   
Dec •  103.8         97.5    97.2  112.8    85.8   

39

INDEX NUMBERS OF WHOLESALE PRICES OF METAIS AND METAL PRODUCTS

NOTES See p. &____________________________________(1926 ₛ 100)______________________________________________________

        All Metals'                                                              
Year    and                      Agricul-         Iron                    Non-   
and     Metal                    tural            and            Motor    ferrous
Month   Products                 Implements       Steel          Vehicles Metals 
1945             104.7           97.8             99.2           112.8    85.8   
Jan.             104.0           97.5             97.7           112.8    85.9   
Feb.             104.2           97.5             98.0           112.8    85.9   
Mar.             104.2           97.5             98.1           112.8    85.9   
Apr.             104.2           97.5             98.1           112.8    85.9   
May              104.3           97.5             98.4           112.8    85.9   
June             104.7           97.6             99.1           112.8    85.9   
July             104.7           97.7             99.1           112.8    85.9   
Aug.             104.7           97.8             99.1           112.8    85.8   
Sept.            104.9           97.9             99.6           112.8    85.7   
Oct.             105.0           97.9             99.8           112.8    85.7   
Nov.             105.2           98.1             100.2          112.8    85.8   
Dec.    105.6 •                  98.1             101.0          112.8    85.8   
1946                                                                             
Jan.             105.7           98.1             101.2          112.8    85.7   
Feb.             106.6           98.1             103.3          112.8    85.7   
Mar.             108. U          98.5             107.0          112.8    86.1   
Apr.             108.8           98.6             107.11         -132^.   87.1   
May                                                                              
June                                                                             
July                                                                             
Aug.                                                                             
Sept.                                                                            
Oct.                                                                             
Nov.                                                                             
Dec.                                                                             
1947                                                                             
Jan.                                                                             
Feb.                                                                             
Mar.                                                                             
Apr.                                                                             
May                                                                              
June                                                                             
July                                                                             
Aug.                                                                             
Sept.                                                                            
Oct.                                                                             
Nov.                                                                             
Dec.                                                                             
                                                                                 
Source; United States Department of Labor, Sureau of Labor Stati sties           

ho

                 INDEX NUMBERS OF ’/WHOLESALE PRICES' OF BUILDING MATERIALS       
NOTE: See p. 2b                         (1926 = 100)                              
       All                                   Paint                       Other 1 
Year   Build-    Brick                       and     Plumbing    Struc-  Build-  
and    ing       and    Cement     Lumber    Paint   and         turai   ing     
Month  Mate-     Tile                        Mate-   Heating 1/  Steel   Mate-   
       rials                                 rials,                      rials   
1913   56.7      38.9   59.6       54.0       50.8   - -         77.1    63.1    
1914   52.7      38.8   55.0       49.9      50.7    --- ---     60.0    59.7    
July   52.9      38.8   55.1       50.2      51.5                58.7 ’  59.4    
1915   53.5      39.1   51.0       ,   48.7  54.8    --- •       65.3    65.1    
1916   67.6      42.4   65.4         55.1    77.1                128.9   87.8    
1917   88.2      50.2   30.3        . 72.2   95.3                190.8   114.0   
April  87.0      49.7   80.3         71.4    91.8    --- *       191.5   112.2   
1918   98.6      66.7   94.6         33.5    121.9   --- MB      153.2   121.0   
Nov.   101.8     73.7   99.1       83.7      133.8   --- ---     153.2   126.9   
1919   115.6     91.9 , 102.3      113.0     140.3               128.7   116.8   
1920   150.1     118.4  117.2      165.2     148.1               144.4   135.0   
.1921  97.4      105.7  110.8        83.9    33.9    • ••        104.4   111.1   
1922   97.3      99.4   103.5      99.1      93.8    • MB        88.5    95.3    
1923   108.7     103.6  107.9      111.8     101.3   * «M        123.7   105.5   
1924   102.3     103.4  105.7        99.3    99.7    MB MB       114.2   104.0   
1925   101.7     100.1  102.6      ICC .6    109.3   • •         102.2   100.4   
1926   100.0     100.0  100.0      1CC.0     100.0   100.0       1C0.0   100.0   
1927   94.7      95.7   95.4         93.1    96.3    92.0        94.7    95.4    
1928 * 94.1      95.6   92.5       90.5      93.1    95.1        95.2    96.7    
1929   95.4      94.3   89.0       93.8      94.9    95.0        98.1    97.7    
1930   89.9      59.8   39; 8      35.8      90.5    88.6        87.3    93J     
1931   79.2      83.6   74.8         69.5    79.4    34.7        83.1    84.8    
1932   71.4      77.3   74.3         58.5    71.1    66.8        80.9    79.5    
1933   77.0      79.2   88.1       70.7      73.3    67.1        83.1    82.7    
1934   86.2      90.2   93.1         84.5    79.5    72.6        90.8    90.3    
1935   85.3      89.4   92.7       81.8      79.8    68.9        92.0    90.1    
1936   86.7      88.7   92.2       87.0      80.1    75.Q        95.0    90.2    
1937   95.2      93.5   89.0       99.7      83.4    78.8        113.2   99.1    
1938   90.3      91.0   90.3         87.4    81.3    73.5        111.0   92.7    
1939   90.5      91.4   91.3       93.2      82.8    79.2        107.3   90.3    
Aug«   89.6      90.5   91.3       90.1      82.1    79.3        107.3   89.5    
1940   94.8      90.5   90.8       102.9     85.7    80.4        107.3   93.3    
1941   103.2     93.7   92.0       122.5     91.4    84.8        107.3   98.3    
Jan.   99.6      91.3   90.8         118.4   86.7    80.5        107.3   94.9    
Dec.   107.8     96.7   93.4         129.4   96.5    89.1        1C7.3   102.5   
1942   110.2     98.0   94.0         133.0   100.3   95.4        107.3   103.5   
May    110.1     98.0   94.2         131.5   100.6   .98.5       107.3   103.8   
Sept.  110.4     98.7   94.2       133.2     ICO .4  94.1        107.3   103.3   
Oct.   110.4     98.7   94.2       133.3     101.0   94.1        107.3   103.3   
1943   111.4     99.1   93.8         141.4   102.3   90.7        107.3   102.0   
May    110.5     98.9   93.9       138.1     102.2   90.4        107.3   101.6   
1944   115.5     101.7  95.8       153.3     105.2   92.2        107.3   103.1   
Jan.   113.5     ICO. 2 93.6         148.1   103.5   91.8        1C7.3   102.8   
Feb.   113.6     100.1  93.6         143.9   1C3.9   91.8        107.3   102.8   
March  114.2     10G.3  93.6       151.3     1C4.4   91.8        107.3   102.8   
April  115.2     100.3  93.9         154.1   1C4.4   91.8        107.3   102.8   
May    115.7     100.5  96.4         154.7   1C4.7   92.4        107.3   103.0   
June   115.9     ICO.6  96.4         154.7   105.7   92.4 '      107.3   103.0   
July   115.9     100.7  96.4       154.8     105.5   92.4        107.3   103.1   
Aug.   116.0     100.7  96.4       154.9     105.5   92.4        107.3   103.2   
Sept.  116.0     101.5  96.9         154.5   105.5   92.4        1C7.3   103.3   
Oct.   116.3     104.8  97.5       154.2     106.0   92.4        107.3   103.3   
Nov.   116.4     105.0  97.7         154.2   106.3   92.4        107.3   103.3   
Dec.   116.4     105.3  97.5         154.3   106.3   92.4        107.3   103.3   
                    INDEX NUMBERS OF WHOIESAIE PRICES OF BUILDING MATERIALS                    
NOTE: See p. 21*    (1926 = 100)                                                               
All                 Paint                             Other                                    
Year      Build-    Brick                             and       Plumbing    Struc-    Build-   
1 and        ing    and        Cement      Lumber      Paint     and          tural      ing   
1 Month      Mate-  Tile                              Mate-    Heating 1/ Steel     Mate-      
rials               rials                             rials                                    
11945        117.8  112.4      99.4        15 5.1       106.9    93.4         107.3      104.4 
1 Jan.        116.8 110.4      97.4        154.2       106.3     92.4         107.3      103.5 
I Feb.        117.0 110.5      99.0        154.4       106.4     92.4         107.3      103.6 
I March      117.1  110.7      99.4        154.3       106.3     92.4         107.3      103.8 
I April     .117.1  110.6      99.4        154.4       106.3     92.4         107.3      103.8 
1 May        117.3  110.7     99.4        154.9       106.4     92.4         107.3      104.1  
| June       117.4  110.9      99.4        154.9       106.3     92.6         107.3      104.3 
July       117.5    111.7      99.4        155.1       106.1     92.6         107.3      104.3 
I Aug.       117.8  111.6      99.4        155.3       107.3     93.4         107.3      104.3 
1 Sept.      118.0  112.4      99.6        155.0       107.6     95.0         107.3      104.5 
Oct.       118.3    115.2      99.9        155.2       107.6     95.0    ’   107.3      104.6  
Nov.       118.7    116.7     100.1        155.5       107.7     95.0         107.3      105.4 
Dec.       119.5    116.7     100.5        157.8       107.8     95.0         107.3      105.9 
1 1946                                                                                         
Jan.       120.0    116.9     101.1        158.5       107.8     95.0         107.3      106.6 
1 Feb.       120.9  116.9     101.5        160.1       107.3     95.1         113.7      107.2 
March      12h.9    117.4     102.3        167.6       107.8     95.1         120.1      112.3 
I April      126.$  119.9     102 J*        171.4       108.0    100.8         120.1      112.8
May                                                                                            
June                                                                                            
Juiy                                                                                            
Aug.                                                                                            
I Sept.                                                                                         
Oct.                                                                                            
Nov.                                                                                            
Dec.                                                                                            
10/7                                                                                           
Jan.                                                                                            
Feb.                                                                                            
March                                                                                           
April                                                                                           
May                                                                                             
June                                                                                            
July                                                                                            
Aug.                                                                                            
Sept.                                                                                           
Oct.                                                                                            
Nov.                                                                                            
Dec.                                                                                 _______    
1/ Not computed as  separate subgroup prior to 1926                                            
Source: United States Department of Labor, Bureau of Labor Statistics                           

INDEX NUMBERS OF WHOIESALE TRICES OF CHEMICAIS AND ALLIED TRODUCTS

NOTE: See p. 2k              (1926 s 100)                       
      All                    Drugs                             
Year  Chemicals    Chemicals and       Ferti-    Mixed  Oils   
and   and Allied ,           Pharma-   lizer     Ferti- and 2/ 
Monti Products               ceuticals Materials lizer  Fats   
1913  80.2         89.4      56.6      85.5      84.3          
1914  81.4         91.0      60.8      78.3      85.5          
July  77.9         86.1      56.7      77.4       85.5  MB     
1915  112.0        127.8     82.9      133.7     92.0          
1916  160.7        196.9     88.8      2Ò5.2     142.2         
1917  165.0        187.6     108.3     228 0     137.7         
April 156.5        181.4     90.8      223.6     137.7         
1918  182.3        187.3     130.2     236.9     195.0         
Nov.  178.0        180.9     133.4     217.9     195.0  «      
1919  157.0        U5.8      113.7     191.8     221.7  OB     
1920  164.7        166.5     119.8     211.6     177.1  - «    
1921  115.0        108.9     96.2      117.9     162.5         
1922  100.3        97.2      93.3      102.3     119.0         
1923  101.1        100.6     95.7      102.5     107.4  OB     
1924  98.9         102.2     95.8      92.6      95.9   OB CO  
1925  101.8        104.1     97.7      98.8      100.4         
1926  100.0        100.0     100.0     100.0     100.0  100.0  
1927  96.1         99.5      86.0      98.4      90.3   92.5   
1928  95.0         98.6      67.8      100.1     96.1   95.4   
1929  94.0         99.7      66.8      95.6      95.2   89.0   
1930  88.7         96.9      63.8      87.8      91.9   71.0   
1931  79.3         90.2      59.2      76.6      80.5    48.9  
1932  73.9         88.8      55.0      63.7       68.4  4O.O   
1933  72.1         86.8      54.6      62.9      64.0    39.4  
1934  75.3         86.8      74.8      64.6      72.0    40.6  
1935  79.0         88.6      77.6      63.5      71.0   61.7   
1936  78.7         87.9      80.1      63.3      68.5    63.2  
1937  82.6         88.2      86.6      69.0      73.8    76.8  
1938  77.0         86.4      79.0      67.0       72.6   49.6  
1939  76.0         84.7      78.2      67.9      73.0    48.4  
Aug.  74.2    ,    83.8      77.1      65.5      73.1    40.6  
1940  77.0         85.1      88.9      69.4       73.8   44.3  
1941  84.4         87.2      102.6     73.5       76.0   77.6  
Jan.  78.6         85.6      96.5      70.7      75.2    46.2  
Dec.  90.4         88.6      112.5     77.8       81.2  101.9  
1942  95.5         96.2      116.0     78.7       82.7  IO5.I  
May   96.5         96.5      119.7     79.0       82.8  108.6  
Sept. 95.3         96.3      119.4     78.2       82.8  101.5  
Oct.  95.3         96.2      119.2     78.3       82.8  101.5  
1943  94.9         96.5      106.2     80.0       86.1  101.9  
May   94.8         96.4      106.1     80.0       86.1  102.0  
1944  95.2         96.1      108.8     81.3       86.4  102.0  
Jan.  95.0         96.3      106.3     81.3       86.5  102.0  
Feb.  95.0         96.3      106.4     81.4       86.3  102.0  
Mar.  95.0         96.3      106.4     81.4       86.3  102.0  
Apr.  95.5         96.3      112.0     81.4       86.3  102.0  
May   95.5         96.3      112.0     81.4       86.3  102.0  
June  95.3         96.2      112.0     79.9       86.3  , 102.0
July  95.5         96.2      112.0     81.1       86.3  102.0  
Aug.  95.5         96.2      112.0     81.2      86.6   102.0  
Sept. 94.9         96.0        106.9   81.2      86.6   102.0  
Oct.  95.0         96.0        106.9   81.8      86.6   102.0  
Nov.  94.8         95.5        106.9   81.8      86.6   102.0  
Dec.  94.8         95.6        106.9   81.8      86.6   102.0  

      i

to

INDEX NUMBERS OF WHOLESALE PRICES OF CHEMICALS AND ALLIED PRODUCTS

NOTE» See p.                           (1926 a 100)                  
             i i                                                    
             All                    Drugs                           
1 year       Chemicals    Chemicals and       Ferti-    Mixed  Oils 
1 and        and Allied .           Pharma-   lizer     Ferti- and  
I Month      Products ■=/           ceuticals Materials lizer  Fats 
I 1945       95.2         96.1        109.0   81.6      86.6   102.0
Jan.         94.9         95.8        106.9   81.9      86.6   102.0
Feb.         94.9         95.8        106.9   81.9      86.6   102.0
Mar.         94.9         95.8        106.8   81.9      86.6   102.0
Apr.         94.9         95.8        106.8   81.9      86.6   102.0
May          94.9         95.8        106.8   81.9      86.6   102.0
June         95.0         95.9        109.5   80.4      86.6   102.0
July         95.3         96.1        110.2   81.1      86.6   102.0
Aug.         95.3         96.1        110.2   81.1      86.6   102.0
Sept.        95.3         96.1        110.2   81.1      86.6   102.0
Oct.         95.5         96.4        110.3   81.9      86.6   102.0
Nov.         95.7         96.7        110.7   81.9      86.6   102.0
Dec.         96.1         97.1      , 112.3   81.9      86.6   102.0
1 1946                                                              
Jan.         96.0         97.1      112.1     81.9      86.6   101.7
Feb.         95.9         97.0      111.5     81.9      86.6   101.8
Mar.         96.0         97.0        111.7   81.9      86.6   102.1
Apr.         96.1         97.1      112.4 1   81.9      86.6   102.1
May *                                                               
June                                                                
July                                                                
Aug.                                                                
Sept.                                                               
Oct.                      X                                         
Nov.                                                                
Dec.                                                                
1947                                                                
Jan.                                                                
Feb.                                                                
Mar.                                                                
Apr.                                                                
May                                                     •           
June                                                                
July                                                                
Aug.                                                                
Sept.                                                               
Oct.                                                                
Nov.                                                                
Dec.                                                                

    AlíThemicals and drugs until 1926 2/ Not available prior to 1926

  source: United States Department of Labor, Bureau of Labor Statistics

Ui

                INDEX NUMBERS OF WHOIESAIE PRICES OF HOUSEFURNISHING GOODS         
NOTE: See p. 2b                           (1926 s 100) -                           
Year            All                                                                
and             Housefurnishing                 Furnishings               Furniture
Month           Goods                                                              
1913            56.1                         47.5                     70.7         
1914            56.5                         48.2                    70.6          
July            56.7                         48.4                    70.7          
1915            56.0                         47.1                    70.9          
1916            61.4                         54.8                    72.8          
1917            74.2                           70.3                     81.7       
April           70.0                           64.8  k                   79.3      
1918            93.3                           94.5                     93.3       
Nov.            99.2                         101.0                     98.4        
         ' 1919 105.9                        101.4                   114.7         
           1920 141.8                         228.5                     165.6      
1921            113.0                         103.3                    129.9       
1922            103.5                           97.0                    114.6      
1923            108.9                        104.8                   116.7         
1924            104.9                         103.4                    107.9       
1925            103.1                         102.2                    104.6       
1926            100.0            '             100.0                    100.0      
1927            97.5                           97.4                     97.7       
1928            95.1                         93.7                    96.7          
1929            94.3                          93.6                     95.0        
1930            92.7                         91.4                     94.0         
1931            84.9                         82.2                     88.0         
1932            75.1                          75.4                     75.0        
1933            75.8                           76.6                     75.1       
1934            81.5                           84.1                     79.0       
1935            80.6                           84.2                     77.0       
1936            81.7                          85.3                     78.0        
1937            89.7                         93.4                    85.9          
1938            86.8                           90.8                     82.8       
1939            86.3                           91.1                     81.3       
Aug.            85.6                      -   90.0                     81.1        
1940            88.5                          94.7                    81.8         
1941            94.3                           99.9                     88.4       
Jan.            89.0                         95.2                    82.6          
Dec.            101.1                         105.6                     96.6       
1942            102.4                          107.3                     97.4      
May             102.9                   •       108.1                      97.5    
Sept.           102.5 ‘                       107.4                      97.4      
Oct.            102.5                          107.3                     97.4      
1943            102.7                        107.2                    98.1         
May             102.7                         107.3                     98.0       
1944            104.3                          107.3                    101.4      
Jan.            104.5                          107.1                    102.0      
Feb.            104.2                         107.1                    101.4       
Mar.            104.3                          107.2                    101.4      
Apr.            104.3                          107.2                    101.4      
May             104.3                          107.2                    101.4      
June            104.3                          107.2                    101.4      
July            104.3                           107.2    *             v 101.4     
Aug.            104.4                          107.4                    101.4      
Sept.           104.4                          107.4                    101.4      
Oct.            104.4                          107.4                    101.4      
Nov.            104.4                          107.4                    101.5      
Dec.            104.4                          107.4                    101.5      

45

INDEX NUMBERS OF WHOLESALE TRICES OF HOUSEFURNISHING GOODS

NOTE: See p* 24________________________________(1926 ₌ 100)

Year      All                                                                     
and       Housefurnishing                       Furnishings              Furniture
Jis®>.___ ______Goods__                                                           
1945      104.5                                 1O7‘6                   101.5     
Jan,      104.5                                  107.5                    101.5   
Feb.      104.5                                    107.5         *           101.5
Kar.      104.5                                 107.5                   101.5     
Apr.       . 104.5                                  107.5                    101.5
May       104.5                                 107.5                   101.5     
June      104.5                                  107.5                    101.5   
July      104.5                                 107.5                   101.5     
Aug.      104.5                                  107.5                    101.5   
Sept.     104.6                                 107.7                   101.5     
Oct.      104.7 '                                 107.9                    101.6  
Nov.      104.7                                 107.9                   101.6     
Dec.      104.7                                 107.9                   101.6     
1946      106.2                                 109.7                   102.8     
Jan.      106.5                                 110.1                   102.9     
Feb.      106.9                                 110.9                   102.9     
Mar.      107,5                                  112.1            ,       102.9   
Apr.                       ------                  ---^---fc---       /  ---i---^.
May                                                                               
June                                                                              
July                                                                              
Aug.                                                                              
Sept.                                                                             
Oct.                                                                              
Nov.                                                                              
Dec.                                                                              
1947                                                                              
Jan.                                                                              
Feb.                                                                              
Mar.                                                                              
Apr*                                                                              
May                                                                               
June                                                                              
July                                                                              
Aug.                                                                              
■ Sept.                                                                           
Oct. •                                                                            
Nov.                                                                              
Dec.                                                                              

Sources United States Department of Labor, Bureau of Labor Statistics



INDEX ÑUMBERS OF WIESALE PRICES OF MISCELLANEOUS COMMODITES



            U



NOTE: See p* 2h (1926 s 100)
                           Auto           *                                                    
Year          All          Tires                       Paper                       Other       
and            Miscel-     and          Cattle       and         Rubber,        Miscel-        
Month          laneous     Tubes         Feed          Pulp         Crude          laneous     
1913             93.1      207.2         82.2          59.4         170.2          64.4        
1914             39.9      173.1         87.6          58.2         135.2          64.5        
July           88.1        170.7         85.8          57.7         124.3          64.3        
1915             36.9      155.1         89.1          56.7         135.4          64.3        
1916            100.6      160.4         95.5          89.0         I5O.O          68.5        
1917    ‘        122.1     198.0        I4O.2         112.7         149.2          78.6        
April          124.7       198.5        I45.O         122.0         167.5          72.3        
1918            134.4      229.2        146.2         106.7         124.4         107.6        
Nov.           142.3       234.8        145.7         123.3         125.3         113.7 .      
1919            139.1      209.2        185.7         II5.I         100.7         120.5        
1920            167.5      . . 232.5         184.3          181.8           72.6          150.2
1921            109.2      179.0         89.2         107.6       ’ 34.4         107.5         
1922             92.8      II5.4        107.3          91.6          36.0         100.4        
1923             99.7      109.5        113.5     ,    102.8          61.3         102.0       
1924             93.6      92.6        110.2         100.7          54.3         100.8         
1925            109.0      93.6        112.7         IO5.2         149.9          99.6         
1926            100.0      100.0        100.0         100.0         100.0         100.0        
1927            91.0       74.9        117.8          93.3          77.9          98.8         
1928              85.4     63.4       138.1         91.4         46.4         96.9             
1929             82.6      54.5        121.6          88.9          42.3          93.4         
1930             77.7      51.3         99.7          86.1          24.5          95.5         
1931            69.8       46.0 62.7 31.4 12.8 88.0                                            
1932            64.4       41.1 46.O 75.5 7.3 83.7                                             
1933             62.5      42.1 57.9 76.6 12.2 76.2                                            
1934           ' 69.7      44.9 89.4 82.7 26.5 82.1                                            
1935             68.3      45.7 88.3 80.0 25.4 80.0                                            
1936             70.5      47.2 94.4 80.7 34.2 81.1                                            
1937             77.8      55.8 110.5 91.7 40.5 84.7                                           
1938             73.3      57.7 76.9 85.0 30.5 81.5                                            
1939            74.8       59.5 83.3 82.4 37.2 82.6                                            
Aug.            73.3       60.5 68.4 80.0 34.9 31.3                                            
1940             77.3      57.8 87.8* 91.7 41.5 84.1                                           
1941             82.0      61.0 101.2 98.2 46.1 87.8                                           
Jan.            77.1       58.2 89.1 93.1 41.0 82.8                                            
Dec.            87.6       67.4 124.4 102.5 46.3 92.4                                          
1942             89.7    * 72.5 134.4 100.8 46.3 93.4                                          
May             90.5       73.0 I4O.4 102.8 46.3 93.5                                          
Sept.           88.8       73.0 124.2 98.8 46.3 92.7                                           
Oct.            88.6       73.0 123.8 98.8 46.3 92.4                                           
1943             92.2      73.0 152.7 IO4.I 46.2 95.8                                          
May             91.9       73.0 I5O.6 IO4.3 46.2 95.2                                          
1944             93.6      73.0       159.6         107.1        46.2          97.0            
Jan.            93.2       73.0        159.6          106.0        46.2          96.7          
Feb.            93.4       73.0        159.6         106.6        46.2          96.7           
Mar.            93.5       73.0        159.6          107.2         46.2          96.7         
Apr.            93.5       73.0        159.6          107.2         46.2          96.7         
May            93.5        73.0       159.6         107.2        46.2          96.8            
June            93.5       73.0       159.6          107.2        46.2          96.7           
July            93.6       73.0       159.6         107.2        46.2          96.9            
Aug.            93.6       73.0        159.6         107.2        46.2          96.9           
Sept.           93.6       73.0        159.6         107.2        46.2         97.0            
Oct.            93.6       73.0       159.6         107.2        46.2          97.0            
Nov.            94.0       73.0       159.6          107.2        46.2          97.8           
Dec.            94.2       73.0        159.6          107.3        46.2          98.2          

47

INDEX NUMBERS OF WHOIESAIE TRICES OF MISCELLANEOUS COMMODITIES

NOTE: See p. 24        (1926 ■ 100)                 
               Auto                                
Tear  All      / Tires        Paper         Other  
and   Miscel-  ( and   Cattle and   Rubber, Miscel-
Month laneous  ' Tubes Feed   Pulp  Crude   laneous
1945  94.7     73.0    159.6  108.8 46.2    98.9   
Jan.  94.2     73.0    159.6  107.6 46.2    98.2   
Feb.    94.6   73.0    159.6  108.0 46.2    98.9   
Mar.    94.6   73.0    159.6  108.0 46.2    98.9   
Apr.  94.8   4 73.0    159.6  109.0 46.2    98.9   
May     94.8   73.0    159.6  109.0 46.2    98.9   
June  94.8     73.0    159.6  109.0 46.2    98.9   
July    94.8   73.0    159.6  109.0 46.2    98.9   
Aug.'   94.8   73.0    159.6  109.3 46.2    98.9   
Sept.   94.8   73.0    159.6  109.3 46.2    98.9   
Oct.    94.8   73.0    159.6  109.3 46.2    98.9   
Nov.    94.8   73.0    159.6  109.3 46.2    98.9 ' 
Dec.    94.8   73.0    159.6  109.3 46.2    98.9   
1946                                               
Jan.  95.3     73.0    159.6  112.0 46.2    98.9   
Feb.  95.6     73.0    159.6  113.7 46.2    98.9   
Mar.    95.6   73.0    159.6  113.7 46.2    98.9   
Apr.  95.7     -73^0,         _.^L  J&L     _22.1L 
May                                                
June           4                                   
July                                               
Aug.                                               
Sept.                                              
Oct.                                               
Nov.                                               
Dec.                                               
1947                                               
Jan.                                               
Feb.                   »                           
Mar.                                               
Apr.                                               
May                                                
June                                               
July                                               
Aug.                                               
Sept.                  \                           
Oct.                                               
Nov.                                               
Dec.                                               

Source: United States Department of Labor, Bureau of Labor Statistics

48

PRICES



              Prices Received and Paid by Farmers and Parity Price Ratio

          These series are compiled by the Bureau of Agricultural Economics, United States Department of Agriculture, and published in the Bureau’s monthly publication Agricultural Prices»

          Prices Received by Fanners: - This index is based on price quota-iions as of the th of the month for 48 farm products, 35 crops and 13 livestock and products, grouped as follows: Crops: food grains, feed grains and hay, tobacco, cotton, fruits, truck crops, and oil-bearing crops; livestock and products: meat animals, dairy products, and poultry and eggs. The price quotations are obtained from an average of about 10,000 fanners at local markets throughout the country.

          An unweighted average price of each product is obtained for each of the. crop-reporting districts in a state, which varies from one in seme of the New England States to 10 in Texas. All varieties of each product are included. Except for meat animals, these simple price averages are weighted by Census production figures to give a State average for each product. The State averages are weighted by Crop Reporting Board production figures to give a national average. Shipment and slaughter-house figures are used to weight the price of meat animals.

          Group indexes are derived from the weighted price averages by means of the weighted aggregate method, with fixed quantity weights. The weights are the quantities sold in the period 1935-59» The indexes are put on a 1910-1914 base (actually August 1909 - July 1914) •

          In calculating the composite index, each group index is weighted by the total contribution to cash farm income from agricultural marketings of all agricultural commodities of its class including products not covered by the group index.

          Prices of some farm products have a pronounced seasonal variation and are adjusted before they are combined into group index numbers»

          For a more detailed description of this series, see the Bureau’s publications: Index Numbers of Prices Received by Farmers, 1910-1943» and Index lumbers 0/ Prices deceived by Panners for Farm Tracts, BO3?;----------------- --------------------------------

          Prices Paid by Farmers: - The index of prices paid by farmers measureST-HEcTove^^           that occur in the level of prices
          charged to farmers and their families for the articles they buy far family maintenance and for farm production» It is based on price quotations received from about 20,000 retail merchants who sell to farmers in all parts of the United States. The series includes 180 commodities, 86 of which are for family maintenance and 94 for farm production.


49
PRICES


     Prices Paid by Farmers: (Continued)
     Nationwide prices paid for individual commodities are obtained as weighted averages of prices prevailing in the State, the weights being estimated purchases* Commodity sub-group indexes are derived from the weighted price averages by means of the weighted aggregate method, with fixed quantity weights. The weights are the average quantities purchased per farm during the period 19211-1929. The sub-group indexes are put on a 1910-19lb base.

     The commodity sub-group indexes are combined into two group indexes, one for items for family maintenance and the other for items used for farm production, by weighting each sub-group according to its relative importance in the average expenditures per farm from 192h to 1929. These two group indexes are combined into a single index, which is further combined with the index of interest per acre on farm mortgages and the index of taxes per acre on farm real estate to form the composite index of prices paid by farmers for commodities, interest and taxes.


     The percentage weights used in the construction of the composite index of prices paid by farmers for all commodities, interest and taxes (based on the average annual expenditures per farm in the period 192h-1929) are as follows:

COMMODITIES USED FOR FAHILT LIVING

Total ••••••••••••• h8.6
Food  .................... 17«5
Clothing •••••••••••••••••••• 1^.8
Supplies (fuel, kerosene, soap, gasoline, tires« and oil for automobiles, etc... 6.8
Furniture and furnishings ... 2.9
Building materials for house ••••••••••••••••••••• 3*6
Automobiles (share, used for living) .•••••••••••••••••• 3*0

INTEREST (charges per acre on farm real estate debt)

7.2

COMMODITIES.USED IN PRODUCTION

Total.......    37.H
Feed ••.•••••••.••••••••• 10.1
Machinery •••••••••••••** U.2 Automobiles (share used
  for farm business) and
  trucks •••••••••••••••• Iu5 Tractors •••••••••••••••• 1.2 Fertilizer •••••••••••••• 3.2 Building and fencing
  materials •••..•••••••» 5.9
Equipment and supplies (gasoline, oil, tools, harness, twine, insecticides, containers, etc.) 6.9
Seed ........••••••••••••   1.U

TAXES (payable per acre on
  farm real estate) ••••• 6.6

  The two group indexes in the composite index of prices paid by farmers are shown separately in the Handbook, namely, prices paid by fanners for family maintenance anTprices paid by farmers for production commodities.


   Parity Price Ratio:, — The parity price ratio is the ratio of the I7i(Iexox*"pric(3^^         by farmers to the index of prices paid by
   farmers for commodities, interest, and taxes. It is a measure of the purchasing power of the farmers’ dollar relative to its purchasing power in the base period (1910-1U).
   697283 O—46---4


50

INDEX NUMBERS OF PRICES   RECEIVED AND PAID BY FARMERS AND PARITY PRICE RATIO    
NOTE: See p. U8           (1910 --- 1914 - 100)                                  
             Prices Received V                  Prices Paid                     
Tear  All                 Livestock      Including     Excluding          Parity
and   Farm        All     and Livestock  Interest      Interest            Price
Month Products    Crops   Products       and Taxes     and Taxes         Ratio ;
1910  102         103     102                       96 98            106        
1911  94          100     90             100           101           94         
1912  99          100     99             100           100           99         
1913  102         98      106            102           101           100        
1914  101'        94      108            102           100           99         
July  102         100     103                                        2/         
1915  99          94      104            107           105           93         
1916  118         118     118            125           124           94         
1917      175     187     165            148           149           118        
April 170         181     160                       2/ 2/                       
1918  204         215     194            173           176           118        
Nov.  210         209     211                          2/            2/         
1919  215         226     207            198           202           109        
1920  211         232     192            202           201           104        
1921      124     121     130            165           152           75         
1922  132         138     127                ' 164     149           80         
1923  143         154     132            167           152           86         
1924  143         156     131            167           152           86         
1925      156     163     150            169           156           92         
1926      146     HO      152            168           155           87         
1927  142         135     148            166           153           86         
1928      151     144     158            168           155           90         
1929  149         135     161            167           154           89         
1930  128         119     136            160           146           80         
1931  90          79      99             141           126           64         
1932  68          60      74             124           1 108         55         
1933  72          72      72             120           108           60         
1934  90          98      84             129           122           70         
1935      109     102     115            130           125           84         
1936  114         107     120            127           124           90         
1937  122         115     127            133           131           92         
1938  97          80      113            126           123           77         
1939  95          80      108            124           121           77         
Aug.  89          75      102            122           119           73         
1940  100         88      112            125           122           80         
1941      124     106     140            132           131           94         
Jan.  107         88      125            125           123           86         
Dec.      143     126     158            142           142           101        
1942      159     U2      173            150           152           106        
May       154     139     167            150           152           103        
Sent.     163     143     181            152           154           107        
Oct.      167     • 146   187            153                         109        
1943  192         183     200            162           ^             119        
May       194     187     200            162           167           120        
1944      195     194     194            170           176           115        
Jan.      196     199     193            168           174           117        
Feb.      195     196     194            169           175           115        
Mar.  196         198     194            169           175           116        
Apr.     . 196    . 200   191            169           175           116        
May       194     198     190            169           175           115        
June      193     197     189            170           176           114        
July  192         194     190            170           176           113        
Aug.      193     191     194            170           176           114        
Sept. 192         188     196            170           176           113        
Oct.      194     187     • 199          170           176           114        
Nov.      196     189     202            171           177           117        
Dec.  200         196     202            171 *         178                      

51

INDEX NUMBERS OF PRICES RECEIVED AND PAID BY FARMERS AW PARITY PRICE RATIO

[ NOTE: See p . U8                      (1910 --- 1914 s 100)                           
                        Prices Received ÎL____         Prices         Paid              
1 Year        All                       Livestock      Including      Excluding Parity  
land          Farm      All             and Livestock  Interest       Interest  Price   
[Month        Products  Crops           Products       and Taxes      and Taxes Ratio 2/
                                                                                        
                                                                                        
| 1945        202       201             203            174            180       116     
Jan.          201       200             202            172               179    117     
Feb.          199       197             201            172               179    116     
Mar.          198       196             200            173               180    134     
i Apr*        203       4 204           201            173               180    117     
I May         200       198             202            173               180    116     
I June        206       210             203            173               180    119     
! July        206       207             205            173               180    119     
Aug.          204       202             206            173            180       118     
Sept.         197       191             203            174            181       113     
Oct.          199       196             202            175            182       114     
I Nov.        205       203             206            175               182    117     
Dec.          207       206             207            176               183    118     
1946                                                                                    
Jan.          206       207             204            177               184    116     
Feb.          207       213             202            178               185    116     
Mar.          209       215             203            180               187    116     
Apr.          212       220             205            > Ini             188    117     
' l^y                                                                                   
June          ---------                                                                 
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
                                                       ---------•                       
Nov.          ---                       ---            ------         ---               
Dec.                                                                                    
1947                                                                                    
                                                                                        
Jan.                                                                                    
                                                       ------------ 1                   
Feb,                                                                  ---               
Mar.                                                                                    
Apr.                                                                                    
May                                                                                     
June                                                                                    
July                                                                                    
i Aug.                                                                                  
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                  ---------         
Dec.          ---       ---             ---            -..........    ------_           

   1/ August 1909 - July 1914 • 100
   2/ Ratio of prices received to prices paid, interest and taxes 2/ Not available monthly prior to 1923






   Source: United States Department of Agriculture, Bureau of Agricultural Economics




52

INDEX NUMBERS OF CROP AND LIVESTOCK TRICES RECEIVED BY FARMERS

NOTE: See p. h8                  (August 1909 --  • July 1914 s 100)                              
                                  Crops 1/                              Livestock ana  Products ¿J
Year             Feed                                     Oil-        Meat             Poultry    
and   Food       Grains  Tobacco Cotton Fruits    Truck   bearing     Ani-   Dairy     and        
Month Grains     and Hay                          Crops   Crops       mals . ,Products  _j££?_____
1910  109        96      86      113    100               115         101    100       104        
1911  97         98      85      101    102       * ---   101         85            95 91         
1912  103        111     104     87     98        --- w   89          97     102       101        
1913  91         94      123     97     108       M» ■*   94          110    104       101        
1914  99         104     110     83     87        Ml *•   91          113    101       106        
July  89         105     127     100    92        --- --- 100         115    91        90         
1915  126        105     84      73     82        MT Ml   102         105    101       101        
1916  133        110     110     111    98        Ml ••   144         123    111       116        
1917  227        186     185     178    114       --- _   210         177    146       156        
April 235        177     146     150    IO5       •• ---  201         182    136       137        
1918  232        207     247     238    163       •• ---  238         203    179       186        
Nov.  230        191     326     229    134       OB ---  231         197    217       228        
1919  245        211     308     242    170       Ml Ml   241         207    201       209        
1920  249        204     237     252    178       --- Ml  201         173    202       223        
1921  130        92      167     102    151       --- --- 91          107    U9        161        
1922  117        92      188     156    160               129         114    139       HO         
1923  112        114     193     218    129       * M     169         108    159       145        
1924  127        129     176     217    123       143 y   153         112    148       248        
1925  171        134     171     179    158       143     139         HO     155       162        
1926  152        105     173     #1     134       139     111         146    156       158        
1927  135        115     167     129    134       127     120         141    162       243        
1928  128        123     175     150    152       154     140         155    165       152        
1929  116        119     174     144    125       137     133         160    164       161        
1930  93         107     142     100    146       129     102         135    142       128        
1931  57         74      100     61     91        115     71          93     111       99         
1932  45         48      86      47     73        102     41          65            86 81         
1933  66         57      109     66     70        91      52          61     87        74         
1934  91         95      159     97     88          95    °5          70     101       89         
1935  97         107     174     94     82        119     120         116    124       116        
1936  108        102     165     95     92        104     112         118    125       114        
1937  120        125     204     90     104       110     120         132 .  130       110        
1938  75         71      176     67     70          88    88          115    114       108        
1939  72         69      155     70     68        91      90          112    110       95         
Aug.  62         65      143     70     66          78    73          103    107       90         
1940      84     82      136     77     73        111     96          111    119       96         
1941  97         89      159     107       85     129     130         146    139       121        
Jan.      84     80      134     76     71        128     96          132    128       99         
Dec.  119        99      222     131    89        144     160         159    158       153        
1942  120        111     252     149    114       163     172         188    162       151        
May   120        116     228     155    108       130     176         189    152       133        
Sept. 121        110     275     150    130       136     171         195    167       I65        
Oct.  120        107     293     152    128       155-    174         198    177       173        
1943  148        147     325     160    179       245     190         209    193       190        
May   144        144     319     162    170       276     187         216    189       175        
1944  165        166     354     164    215       212     209         200    198       174        
Jan.  170        168     350     162    204       267     203         194    201       177        
Feb.  170        169     348     161    206       247     205         199    201       168        
Mar.  169        171     351     161    215       242     207         203    199       162        
Apr.  171        172     352     163    237       220     207         203    196       151        
May   170        173     350     160    232       225     208         201    194       153        
June  165        170     350     163    228       231     210         200    192       154        
July  161        168     350     164    230       195     209         197    194       I65        
Aug.  156        166     ' 355   162    214       186     209         201    196       171        
Sept. 155        162     358     170    206       166     207         200    198       179        
Oct.             161                                      211         201    201       190        
Nov.  iti        157     g       Ki     ^         10      215         200    203       207        
Dec.  167        160     364     168    206       228     215         198    203       211        

53

INDEX NUMBERS OF CROP AND LIVESTOCK PRICES RECEIVED BY FARMERS

I NOTE: See p. h£ 1                   (August 1909        --- July 1914 =  100)                   
                                      Crops 1/                             Livestock and  Products
Year              Feed                                          Oil-       Meat           Poultry 
and     Food      Grains        Tobacco Cotton ï  Fruits  Truck bearing    Ani- Dairy     and     
Month   Grains    and Hay                                 Crops Crops      mais Products  Eggs    
I W45   172       161           366   171         220     224   215        210  197       196     
Jan.    169       163           365   163         205     262   224        203  202       199     
Feb.    169       164           360   161         211      223  215        209  200       183     
Mar.    171       166           359   163         211      203  215        211  198       175     
Apr.    172       162            362  163         221     259   215        215  194       176     
May     172       161           ‘363  165         227      193  216        217  192       179     
June    173       162            364  169         237      269  217        216  191       189     
July    169       161           364   171         237 .    244  221        215  192       197     
Aug.    167       158           367   *   172     2U      240   215        212  195       207     
Sept    .   167   157           365   175         ' 217    159  213        207  197       201     
Oct.    175       160           373   180         219     181   210        202  199       204     
Nov.    178       161           375   182         217      235  213        203  202       218     
Dec.    178       162           378   184         230      223  213        204  204       222     
1946                                                                                              
Jan.    179       164           375   180         225      249  213        206  203       197     
Feb.    180       166           368   186         233      275  212        214  202       168     
Mar.    185       171           367   183         229      283  208        219  201       167     
Apr.    185       171           368   190         2W       282  210        225  199       166     
                                                                                                  
May                                                                                               
June                                                                     •                        
July                                                                                              
Aug.                                                                                              
Sept.                                                                                             
Oct.                                                                                              
Nov.                                                                                              
Dec.                                                                                              
1947                                                                                              
Jan.                                                                                              
Feb.                                                                                              
Mar.                                                                                              
Apr,                                                                                              
May                                                                                               
June                                                                                              
July                                                                                              
Aug.                                                                                              
1 Sept.                                                                                           
Oct.                                                                                              
Nov.                                                                                              
Dec.    ------                            ---                                                     
1/      Includes  potatoes,     sweet potatoes, and dry edible beans                              
        Also includes wool      , available annually                                              
1/      Adjusted to the 1924 level of the all-commodity index                                     

   Source: United States Department of Agriculture, Bureau of Agricultural Economics



            54


       INDEX NUMBERS OF PRICES PAID BY FARMERS FOR ALL COMMODITIES USED FOR FAMILY MAINTENANCE               
NOTE: See p» hfi      _____________________(1910-14 « 100)______________________________________________     
      All                                                                                                   
Year  Com-            Food      Clothing            Operating         Furni-              Building          
and   modi-                                         Expenses          ture and            Materials,        
Month ties                                                            Furnishings         House             
1910  98              95        98                  101               102                 100               
1911  100             99        97                  106               101                        103        
1912  101             100       101                 102               100                        IO4        
1913* 100             99        102                 96                100                 100               
1914  101             107       102                 95                        97                  93        
1915  106             110       110                 98                100                 100               
1916  124             126       130                 115               116                 114               
1917  147             154       155                 128'              144                        133        
1918  177             174       207                 • 138             185                 160               
1919  210             208       253                 144               200                 201               
1920  , 222           207       264                 186               229                        212        
1921  161             140       180                 148               198                 158               
1922  156             141       173                 142               182                        165        
1923  160             150       180                 132               192                 168               
1924  159             148       183                 125               196                 168               
1925  163             159       182                 129               197                 172               
1926  162             155       180                 133               193                 172               
1927  160             152       177                 131               192                 172               
1928  160             153       I»                  128               189                        169        
1929  159             149       177                 127               188                 170               
1930  150             137       167                 122               179                        166        
1931  128             109       142                 110               153                 149               
1932  108             90        115                 103               128                        134        
1933  108             95        114                 102               126                 138               
1934  122             108       131                 106               136                        155        
1935  124             120       126                 106               136                        152        
1936  123             116       125                 106               134                        154        
1937  128             120       131                 109               142                        164        
1938  122             108       126                 108               137                        155        
1939  120             108       124                 106               134                        156        
Aug.  119                                                                                                   
1940  121             108       126                 1C5               136                        159        
1941  131             121       139                 109               146                        172        
Jan.  122                                                                                                   
Dec.  143             129       154                 114               158                        179        
1942  154             , U5      172                 117               168                        186        
May   153                                                                                                   
Sept. 157             145       175                 118               170                        187        
Oct.  158                                                                                                   
1943  170             164       190                 121               188                        197        
May   170                                                                                                   
1944  178             166       205                 127               202                        213        
Jan.  176                                                                                                   
Feb.  177                                                                                                   
Mar.  177             166       199                 126               197                        209        
Apr.  177                                                                                                   
May   177                                                                                                   
June  178             167       201                 126               200                        212        
July  179                                                                                                   
Aug.  179                                                                                                   
Sept. 179             164       206                 127               203                        215        
Oct.  179                                                                                                   
Nov.  180                                                                                                   
Dec.  182             165       213                 128               208                        217        

     INDEX NUMBERS OF PRICES PAID BY FARMERS FOR ALL COMMODITES USED FOR FAMILY MAINTENANCE NOTE: See p. h8(1910-14 g 100)

         All                                                                                     
1 Year   Com-       Food        Clothing         Operating         Furni-          Building      
, and    modi- ,         '                          Expenses          ture and         Materials,
Î Month  ties ---'                                                      Furnishings      House   
1945     185        168           220              129 *              219             221        
Jan.     183                                                                                     
Feb.     183                                                                                     
Mar.     183        166           215              128                213             219        
Apr.     183                                                                                     
May      184                                                                                     
June     185        168           217              128                217             220        
July     185                                                                                     
Aug.     185                                                                                     
Sept.    187        168           221              129                220             222        
Oct.     188                                                                                     
[ / Nov. 188                                                                                     
Dec.     190        171           226 -             130                 226              224     
1946                                                                                             
Jan.     191                                                                                     
Feb.     192                                                                                     
Mar.     194        175           230              131                230             226        
Apr.     195__________________________________________________________                           
May                                                                                              
June                                                                                             
July                                                                                             
Aug.                                                                                             
Sept.                                                                                            
Oct.                                                                                             
Nov.                                                                                             
Dec.                                                                                             
1947                                                                                             
Jan.                                                                                             
Feb.                                                                                             
Mar.                                                                                             
Apr.                                                                                             
May                                                                                              
June                                                                                             
July                                                                                             
Aug.                                                                                             
Sept.                                                                                            
Odt.                                                                                             
Nov.                                                                                             

Dec •       •

1/ Includes supplies and automobiles also, indexes for which are not published. Subgroup in-dexes are computed every third month.
Note: Not available monthly prior to 1923
Source: United States Department of Agriculture, Bureau of Agricultural Economics


56

          INDEX NUMBERS OF PRICES PAID BY FARMERS FOR ALL Cd^ 10DITIES USED IN PRODUCTION       
IQ’S: See p. w                         (1910-14 • 100)                                          
                                  Faria           Building                                      
Year      All                     Machinery       Material    Equipment                         
and       Commodities     Feed    Other Than      Other       and           Fertilizer    Seed y
Month     y                       Motor           Than        Supplies                          
                                  Vehicles        House                                         
1910      98            93        100             100         101           99            V     
1911      103           107       100             103         100           99            y     
1912      98            91        100             103         100           100           103   
1913      102           107       100             101         100           102           98    
I9II1     99            102       100             93          99            100           99    
1915      104           100       103             102         106           112           120   
1916      124           I30       107             117         129           120           142   
1917      151           184       122             137         156           137           149   
1918      174    '      193       155             161         181           170           190   
1919      192           211       160             189         180           182           280   
1920      174           137       165             205         189           186           152   
1921      141           97        159             156         152           156           134   
1922      139           123       142             159         140           129           130   
1923      141           134       147             161         136           126           142   
192h      142           142       154             161         133           120           151   
1925      147           141       153             164         140           129           172   
1926      146           137       153             162         144           . 126         214   
1927      144           138       154             160         141           121           197   
1928      148           148       153             158         138           131           179   
1929      147           145       152             159         136           . 130         185   
1930      141           132       152             155         131           126           174   
1931      123           93        150             139         116           U5            152   
1932      109           69        142             126         107           99            102   
1933      108           77        138             129         103           96            95    
1934      123           106       144             146         109           104           140   
1935      127           114       146             145         108           102           154   
1936      125           113       149             146         110           96            142   
1937      136           131       154             156         114           102           192   
1938      125           92        158             148         114           100           158   
1939      122           92        154             148         110           100           130   
Aug.      120                                                                                   
1940      124           TOI       152             150         110           97            130   
1941      131           109       156             162         115           100           124   
Jan.      125           100                                                                     
Dec.      341           123       158             171         119           104           128   
1942      149           135       164             178         126           111           190   
May       150           137                                                               195   
Sept.     151           133       165             179         128           112           190   
Oct.      151           132                                                                     
1943      163           162       169             189         134           120           242   
May.      162           159                                                               243   
1944      173           178       173             204         14o           121           271   
Jan.      172           180                                                                     
Feb.      173           181                                                               274   
March     173           181       171             201         139                         274   
April     173           181                                                 121           273   
May       173           181                                                               272   
June      173           179       173             203         138                               
July      173           178                                                                     
Aug.      173           178                                                                     
Sept.     173           177       173             205         141           121           269   
Oct.      173           177                                                                     
Nov.      173           174                                                                     
Dec.      173           175       174             206         141           3/            3/    

57

INDEX NUMBERS OF PRICES PAID BY FARMERS FOR ALL COMMODITIES USED IN PRODUCTION

NOTE: See p. I48                      (1910-U. • 100)                    
                        Farm       Building                             
Year  All               Machinery  Material Equipment                   
and   Commodities Feed  Other Than Other       and    Fertilizer Seed 2/
Month     1/            Motor      Than     Supplies                    
                        Vehicles   House                                
19h5  17h         176   176          209    1142      12L        281    
Jan.  1714        177   ---                    BB     OB         ---    
Feb.  1714        178                                            277    
March 175         179   175          207    1142      ---        283    
April 175         178   BB         BB          ---    121        283    
 May  1714        4 176            BB                 * BB       283    
June  17h         175   176          208    H41       BB         BB     
July  17h         175   ---        *                             BB     
Aug.  1714        175   WB         ---         ---               BB     
Sept. 1714        175   176          209    1142      121        281    
Oct.  175         176   ---        *           BB     BB                
Nov.  175         177                          BB     BB                
Dec.  175         177   176          211    H41           2/           V
W                                                                       
Jan.  175         178   OB         BB          BB     BB                
Feb.  176         180                          BB     BB         289    
March 177         181   177        213      1142      BB         296    
April 178         182   *                                    122 296    
May                                                                     
June                                                                    
July                                                                    
Aug.                                                                    
Sept.                                                                   
Oct,                                                                    
Nov.                                                                    
Dec,                                                                    
w                                                                       
Jan.                                                                    
Feb.                                                                    
March                                                                   
April                                                                   
May                                                              •      
June                                                                    
July                                                                    
Aug.                                                           1        
Sept,                                                                   
Oct.                                                                    
Nov.                                                                    
Dec.                                                                    

¡/ Includes motor vehicles also, indexes for which are not published. Sub-group indexes are computed for months shown above. 2/ 1912-U|«30O.
U Not available

NOTE: Not available monthly prior to 1923.


SOURCE: United States Department of Agriculture, Bureau of Agricultural Economics

58

PRICES



        *                   Farmer’s Share of Consumer’s Food Dollar

       The Bureau of Agricultural Economics compiles a monthly series of prices for the "market basket", i.e., the retail cost to the consumer and payments to farmers for equivalent quantities of farm produce (minus imputed value of by-products obtained in processing) • It is published in The Marketing and Transportation Situation.

       This series differs from the Bureau’s former series of prices paid to farmers for £8 foods in several important aspects, among which are:

            1» Retail cost is adjusted to include rural as well as urban consumers.
            2» Weighting was revised to cover farm food quantities purchased during 1935-39, instead of 1918-19, representing average annual purchases for a "family” of three average consumers.
            3» Coverage was entended, especially to vegetables and cereal products, including adjustment for by-products.

       The trends of the two series are similar, but the revised series shows a lower level for the farmer’s share of the consumer’s dollar

       The revised table presented in the Handbook on page 59 shows the farm value as a percent of retail cost of foods, or the farmer’s share of the consumer’s food dollar, and the indexes of these percentages, 1935-39 - 100.


59

FARMER’S SHARE OF CONSUMER’S FOOD DOLLAR



Year                             Index:                   Year                               Index:
and       Percent          1935-39                  and             Percent           1935-39      
Month     _________________________■ 100_______________________Month___________:________■ 100 _ _  
1913      47                118                     1945              54               135         
1934      46                 115                       Jan.              54                135     
July      42                 105                      Feb.              54                135      
1915      45                 112                      Mar.              54                135      
1916      45                112                     Apr.             54               135          
1917      48                120                     May              53               132          
April     46       4      * 115                        June              54                135     
1918      51                128                      July             54               135         
Nov.      50                 125                       Aug.              54                135     
1919      49                122                      Sept.            53               132         
1920      43                108                      Oct.             53               132         
          Nov.              55                138                                                  
1921      40                100                      Dec.             55               138         
1922      40                    100                              .                        '     .  
1923      40                  100                       1946              ____ ,   _____           
1924      41                 102                       J®“*              55      '         138     
1925      43                108                      Feb.             55               138         
1926      4<                105                      Mar.                               138        
1927      41                102                                                                    
1928      43                 108              ;        Apr*            ---- -----                  
1929      42                105                      May             ____ _____                    
1930      39                 9$                      June            ____ _____                    
          July             ____ •             _____                                                
1931      36                   90                           ’             ---- -----               
1932      32                 80                      Aug;            ---- -----                    
1933      33                 82                      Sept.           ____ _____                    
1934      34                  85                       Oct.                               _____    
1935      4°                100                     w                                              
1936      41                102                      Nov-            ---- -----                    
1937      43                108                      Dec.            ____ __                       
1938      39                98                                                                     
1939      39           98              1947        __ _                                            
Aug.      37                 92                      Jan.            ______________________        
          Feb.            ____ _____                                                               
11940     40               100                                                                     
1941      44                110                      Mar‘            ---- -----                    
I Jan.    44                110                      Apr.            ____ _____                    
[Dec.     47                118                                                                    
1942      48                120 x                    y             ---- -----                      
I May     46                115                      June            ____ _____                    
Sept.     49               122                     July           ____ _____                       
Oct.      5°                 125                                                                   
1943      52                130                      Aug*            ---- -----                    
I May     49               122                     Sept.           ____ _____                      
          Oct.            ____ _____                                                               
1944      53                 132                       Nov.                                        
I Jan.    54                 135                                                                   
I Feb.    53              132                    ^c* --- ----                                      
I Mar.    54                 135                     ----------------------------------------------
Apr.      53                 132                                                                   
I May     52                 130                                                                   
I June    52                130                                                                    
July      52                130                                                                    
Aug.      52                130                                                                    
Sept.     53                 132                                                                   
Oct.      53                132                    Source: United States Department of             
■    Nov. 54                135                              Agriculture, Bureau of                
■    Dec. 55               138                            Agricultural Economics                   

60

LABOR FORCE, TOTAL EMPLOYMENT, AND UNEMPLOYMENT

         Labor Force and Employment Status of Noninstitutional population

         These series are currently compiled by the Bureau, of the Census, United States Department of Commerce, and published in two of the Bureau* s publications: Monthly Report on the Labor Force and The Labor Force Bulletin»

         The current labor force data presented are based on a survey in which Census enumerators interview a cross-section of the population during the week containing the 8th of each month» Data for April 19¡¡0 and following months, although generally comparable, do not correspond exactly to the figures obtained from the 16th Census of Population for 19h0 and to the estimates developed by the Bureau for the earlier years» During the period since April 19^0 the size of the sample has been repeatedly increased and the scope of the tabulations has been expanded, but the continuity of the basic series of labor force and employment data has been generally maintained» A recent change in classification procedures, however, renders the data for July 19h5 and later months not strictly comparable with data for the earlier periods»

         The series shown in the Handbook are as follows:

         Noninstitutional Population:— All persons in continental United sTaEeTTITyearF^Fage^áñT'over regardless of the employment status, including the estimated number of persons in the armed forces and excluding persons in institutions»

         Total Labor Force : - AU noninstitutional population who, during the census enumeration week, are employed or are seeking work, including proprietors, the self employed and the estimated number of persons in the armed forces and excluding persons engaged only in incidental unpaid family work (less than 15 hours), and persons engaged exclusively in housework in their own homes or attending school»

         Aimed Forces: - AU members of the army, navy, marine corps and coast guZrdT^wrEK^their female complements» The estimates of the armed forces during the census week are projected from data on net strength as of the first of the month»

         Total Civilian labor Force:*AU persons in the total labor force, except membe r s o£ the armed forces«. A breakdown by sex is shown»

         Unem£loyed_J^               persons in the labor force seeking work,
         TncTuding^emeTgency^relief workers» A breakdown by sex is shown»


61

LABOR FORCE, TOTAL EMPLOYMENT, AND UNEMPLOYMENT

     Labor Force and Employment Status of Noninstitutional Population (Cont¹ d)

     Employed Civilian Labor Force: - All full-time and part-time employed workers, excluding emergency relief workers. Includes.persons who had a job or business, but who did not work at all during the entire census week because of illness, bad weather, vacation, labor dispute, or because of temporary lay-off with definite instructions to return to work with-in 30 days of lay-off. A breakdown by sex is shown.

     Agricultural Employment: - All workers the majority of whose employment HuHngniKerTTansuf^^           week was in agricultural work and some
     food processing, including workers who spend less than two days a week in agricultural pursuits. (This series differs from the agricultural employment series compiled by the Bureau of Agricultural Economics in the repsects indicated in the discussion of that series on page 80) ₑ

     Nonagricultural Employment: - All full-time and part-time employed woHceriT'oEEernjian^            employed workers. (This series
     differs from the nonagricultural employment series compiled by the Bureau of Labor Statistics in the respects indicated in the discussion of that series on page 81),

     Not in the Labor Force: - All noninstitutional population who are not Tn’rEiTlinneH^           are not in the category of the unemployed or
     employed, and including persons who are unable to work.


62

LABOR FORCE AND EMPLOYMENT STATUS OF THE NONINSTITUTTONAL POPULATION OF THE UNITED STATES

        (Millions of Persons 14 Years of Age and Over)                  
NOTE: See p> 60                                                         
       Total                       Civilian Labor Force                
Year   Noninsti- Total  Amed                    Employment       Not   
and    tutional  Labor  Forces Total  Unem-        Agri- Nonag-  in    
Month  Popu-     Force                ploy- Total  cul-  ricul-  Labor 
       lation                         ment         tural tural   Force 
1929     MB MB   1*8.1  .3     1*7.8  1.5   1*6.3   10.0 36.3          
1930     4M MB   1*8.7  .3     1*8.1* h.2   1*1*.2 9.9   31*.3   MB 4M 
1931     4M BM   1*9.3  ♦3     1*9.0  7.9   1*1.1  9.8   31.3    4M 4M 
1932     4M 4M   49.8   ; .2    49.6  11.9  37.7   9.7   28.0    4M MB 
1933     MB 4M   50.1*  •2      50.2  12,6  37.5   9.7   27.9    4M MB 
193b     4M 4M   51.0   .3      50.8  11.0  39.8   9.5   30.3    MB BM 
1935    4MB Mb    51.7  .3     51.1*  10.2  1*1.2  9.7   31.5    MB MB 
1936     MB ■•    52.3  .3      52.0  8.6   1*3.1* 9.6   33.8    MB MB 
1937     Mi MB    52.8  .3      52.5  7.3   1*5.3  9.1*  35.8    MB MB 
1938     MB MB    53.5  .3      53.1  9.9   1*3.2  9.3   33.9    MB MB 
1939             51*. 1 .1*     53.7  8.8   1*1*.9 9.3   35.6          
191*0  130.6     51*.5  •5     51*.O  7.5    46.5  9.2   37.3    46.1  
191*1    101.5    55.7  1.6    51*.l  5.0   1*9.1  8.7   1*0.1*  1*5.8 
191*2    102.5   58.li  3.9    51*.5  2.1*  52.1   8.6   1*3.5   l*l*.l
191*3    103.6    62.5  9.0     53.5  1.1   52.1*  8.3   1*1*. 1 1*1.1 
191*1*   ioU.5    64.0  11.11   52.6  .8    51.8   8.1   1*3.7   40.6  
Jan.    101*.2    61.9  10.5   51.1*  1.1   50.1*  6.6   1*3.8   1*2.2 
Feb.    1D1*.3    61.9  10.7    51.2  .9    50.3   6.7   1*3.6   1*2.1*
March   101*.3    62.2  10.8   51.1*  .9    50.5   6.9   43.6    1*2.2 
April   101*.l*   63.2  11.1    52.1  .8     51.3  7.5   1*3.8   1*1.3 
May     101*.l*   64.0  11.2    52.8  .9    52.0   8.6   1*3.1*  1*0.1*
June    1O1*.5    65.6  U.li   51*. 2 1.0   53.2   9.6   1*3.7   38.9  
July   lOh.6      66.6  11.6    55.0  1.0   51*.o  9.7   1*1*.3  38.0  
Aug.     104.6    65.7  11.7   51*.o  .8     53.2  8.6   1*1*.6  38.9  
Sept.   lDli.7    64.8  11.8    53.0  .8     52.2  8.7   43.6    39.9  
Oct.    lOlt.8    64.8  11.9    52.9  .6    52.2 1 8.7   1*3.5   1*0.1 
Nov.   1011.8     64.1  11.9    52.2  .7     51.5  8.1   43.4    1*0.7 
Dec.    1011.9    63.2  11.9    51.2  .7     50.6  7.1   43.5    1*1.7 
1945 y                                                                 
Jan.   1011.9     62.9  11.9    51.0  .8     50.1  6.7   1*3.1*  1*2.1 
Feb.   105.0     63.4   12.0   51.1*  .9     50.6  6.8   1*3.8   41.6  
March  105.0      63.7  12.0    51.7  .8     50.8  7.3   1*3.5   1*1.3 
April  105.1     64.0   12.1    51.9  .8     51.2  7.8   1*3.1*  1*1.1 
May    105.2     64.2   12.2    52.0  .7     51.3  8.0   1*3.3   1*1.0 
June   105.3     65.lt  12.3    53.1  1.1    52.1  9.1   1*3.0   '39.8 
July   105.1*     66.0  12.3   53.8   1.1    52.7  9.1   1*3.5   39.1* 

63

IABOR FORCE AND EMPLOYMENT STATUS OF THE NONINSTITUTIONAL POPULATION OF THE UNITED STATES

NOTE* See p#60 (Millions of Persons Hi Years of Age and Over)

      Total                       civilian Labor Force              
Year  Noninsti- Total Armed                    Employment      Not  
and   tutional  Labor Forces 1 Dotal Unem-        Agri- Nonag- in   
Month Popu-     Force                ploy-  Total cul-  ricul- labor
      lation                         ment         tural tural  Force
                      Revised  Estimates ^                          
July  105.11    67.5  12.3     55.2   1.0   54.3  9.8   44.4   37.9 
Aug#  105.5     66.5  12.2     54.3    .8   53.5  9.0   44.5    39.0
Sept# 105.6     64.8  11.9     52.9   1.6   51.2  8.8    42.4  40.8 
Oct#  105.6     63.7  10.6     53.1   1.5   51.6  8.8   42.8   41.9 
Nov#  105.8     62.6  9.2      53.4   1.7   51.7  8.4   43.3   43.2 
Dec#  105.9     61.2  7.8      53.3   2.0   51.4  7.2    44.2  44.7 
1946                                                                
Jan#  106.0     59.9    6.2    53.7   2.3   51.4  6.8   44.7   46.1 
Feb#  106.0     59.5    5.2    54.3   2.6   51.7  7.0   44.7   46.5 
March 106.1     60.0    lull   55.7   2.7.  53.0  7.6    45.4  46.0 
April 106.1     60.7    3.8    56.9   2.4   54.6  8.2    46.4  45.4 
May                                                                 
June                                                                
July                                                                
Aug.                                                                
Sept#                                                               
Oct#                                                                
Nov#                                                                
Dec#                                                                
19h7                     «                                          
Jan#                                                                
Feb.                                                                
March                                                               
April                                                               
May                                                                 
June                                                                
July                                                                
Aug.                                                                
Sept#                                                               
Oct.                                                                
Nov.                                                                
Dec#                                                                

      y Average not available since estimates for July through December are not comparable with those for earlier months#
      2/ Estimates for July 1945 and later months are revised due to change in classification procedures. Revisions for earlier months will be available at a later date#



      SOURCE: United States Department of Commerce, Bureau of the Census

                                               6h                                                         
                       CIVILIAN LABOR FORCE, BY EMPLOYMENT STATUS AND SEX                                
NOTE: See P. 60        (Millions of         Persons lb Years of Age and Over)                            
Year and  Civilian Labor Force                         Employed                       Unemployed         
Month        Total     Male        Female        Total ' Male           Penale  Total Male       Perna le
191x0     5b.0         bO.9      13.1       ¿6.5       35.3            11.2     7.5   5.6        1.9     
19U1           1       b0.5      13.6       b9.1       36.9            12.2     5.0   3.6        l.h     
191x2     5b.5         39.6      lb.9       52.1       38.0            lb.l     2.b   1.6        .8      
191x3     53.5         36.1      I7.b       52.b       35.5            16.9     1.1   .6         .5      
19bh      52.6         3b.fi     17.9       548        3b.3            17.5 •   .8    .b                 
Jan.      54h          3b. 6     16.8       50. b      3b.O            16.b     1.1   .6                 
Feb.      51.2         3b.5      16.6       50.3       3b.O            16.2     .9    .5         .h      
March     51.h         3b.5      16.9       50.5       3b.O            16.5     .9    .5                 
April     52.1         3b.9      17.2       51.3       3b.b            16.9     .8    •b         .3      
May       52.3         3b.9      17.9       52.0       3h.5            17.5     .9               .5      
June      5b. 2        35.5      18.7       53.2       35.0            18.2     1.0   .5         .5      
July      55.0         35.9      19.1       5b .0      35.b            18.6     1.0   .5         .5      
Aug.      5b.o         35.6      18. b      53.2       35.1            18.0     .8                       
Sept.     53.0         3b.6      18.h       52.2       3b.2            18.1     .8               .h      
Oct.      52.9         3b. b     18.5       52.2       3b.l            18.1     .6    .3         .3      
Nov,      52.2         3b.l      18.1       51.5       33.7            17.8     .7    th         .3      
Dec,      51.2         33.7      17.5       50.6       33.3            17.2     .7    .h         .3      
191x5 V   ^                                                                                              
Jan.      51.0         33.7      17.3       50.1       33.2            17.0     .8    .5         .3      
Feb.      51.b         33.7      17.8       50.6       33.2            17.b     .9    .5         .b      
March     51.7         33.7      17.9       50.8       33.2            17.6     .8    .5         .3      
April     51.9         33.8      18.1       51.2       33.b            17.8     .8               .3      
May       52.0         33.8      18.2       51.3       33.4            17.9     .7               .3      
June      53.1         3b.b      18.8       52.1       33.8            18.3     1.1   .6         •5      
July      53.8         3b.9      18,8       52.7       3h.b            18.3     1.1   .6         .5      
                                            • Revised Estimates -                                        
July      55.2         35.1      20.1       5b.3       3b.7            19.6     1.0   .5         .5      
Aug.      5b.3         35.0      19.3       53.5       3b. 6           18.9     .8    •b                 
Sept.     52.9         3b.2      18.6       51.2       33.3            17.9     1.6   .9         .7      
Oct.      53.1         3b. 6        18.5    51.6       33.7            17.9     1.5   .9         .6      
Nov.      53.b         35.3      18.2       51.7       3b.l            17.6     1.7   1.2        .5      
Dec.      53.3         36.1      17.2       51.b       3h.6            16.7     2.0   1.5        .5      
191x6                                                                                                    
Jan.      53.7         37.6      16.2       51. b      35.8            15.6     2.3   1.8        .5      
Feb.      5b.3         38.3      16.0       51.7       36.2            15.5     2.6   2.1        .5      
March     55.7         39.b      16.3       53.0       37.2            15.8     > 2.7 2.2        .5      
April     56.9         10.3        -16x6.              38.b            16.1     2.b   1.9                
May                                                                                                      
June                                                                                                     
July                                                                                                     
Aug.                                                                                                     
Sept.                                                                                                    
Oct.                                                                                                     
Nov.                                                                                                     
Dec.                                                                                                     
191x7                                                                                                    
Jan.                                                                                                     
Feb.                                                                                                     
March                                                                                 •                  
April                                                                                                    
May                                                                                                      
June                                                                                                     
July                                                                                                     
Aug.                                                                                                     
Sept.                                                                                                    
Oct.                                                                                                     
Nov.                                                                                                     
Dec.                                                                                                     
Average   not available due to   revised figures from July through December.                             
SOURCE: United States Department of Conine ree. Bureau of the          Census                            

«



          LABOR FORCE, TOTAL EMPLOYMENT, AND UNEMPLOYMENT

Employees in Nonagricultural Establishments, by Industry Divisions

These series are compiled by the Bureau of Labor Statistics, United States Department of Labor, and are published monthly in the Monthly Labor Review and in mimeographed releases entitled "EmploymenFlSSl PayrollsThe major industrial divisions included are: (1) manufacturing, (2) mining, (3) construction, (4) transportation and public utilities, (5) trade, (6) finance, service and miscellaneous, and (7) civilian government«

The estimates of employment include all civil employees in nonagricultural establishments, except proprietors, self-employed persons, domestic servants, military and naval forces, and emergency workers (WPA, CCC, NYA).

Current monthly estimates are made chiefly on the basis of a sample of identical establishments reporting data for both the current month and the preceding month to the Bureau of labor Statistics. All data reported are for the pay period ending nearest the 15th of the month. Estimates in seme industries are supplied by other agencies such as the Interstate Commerce Commission, the Civil Service Commission and the Bureau of the Census«

In order to account for new firms and for biases in the data arising out of sampling limitations, periodic adjustments are made on the basis of the Biennial Census of Manufactures and other industrial censuses and, more recently, the social security data.

The Bureau of Labor Statistics series on employees in all nonagricultural establishments differs from the nonagricultural employment series compiled by the Bureau of the Census in the following respects:

     1.  The Bureau of labor Statistics series excludes, and the Census series includes, proprietors, self-employed persons and domestic servants.

     2.  The Bureau of Labor Statistics series overstates employment to the extent that workers are counted more than once when their names appear on the payrolls of more than one establishment during the reporting payroll period.




   697283 0—46-------5


66

  EMPLOYEES IN NONAGRICUITURAL ESTABLISHMENTS IN THE UNITED STATES,           
                    BI MAJOR INDUSTRY DIVISION 1/                             
NOTE: See p. 6g                 (In Thousands)                                
                                       Transpor-           Finance           
Year             Manu-          Con-   tation &            Service à Civilian
and     Total    fac-    Mining struc- Public      .Trade  Miscella- Govern- 
Month •          turing         tion 2/ Utilities          neous     ment 3/ 
1929    31,1119  io,531i 1,078  2,122  3,907 -     6,246   b,2O3     3,059   
1930    28,996   9,h01   1,000  1,721  3,675 ,     5,932   11,079    3,188   
1931    26,125   8,021   864    1,1170    3,2b3    5,1139  3,830     3,258   
1932    22,921   6,797   722    1,008  2,801i      4,861   3,517     3,212   
1933    23,060   7,258   735    881       2,659    11,916  3,1i62    3,1119  
193b    25,11119 8,346   8711   1,038. 2,736       5,1129  3,667     3,359   
1935    26,599   8,907   888    1,181  2,771       5,610   3,797     3,445   
1936    28,809   9,653   937    1,623  2,956       5,983   11,026    3,631   
1937    30,627   10,606  1,006  1,575     3,lHi    6,11211 li,195    3,707   
1938    28,663   9,253   882    1,382  2,81iO      6,35b   b,117     3,835   
1939    30,353   10,078  8115   1,753     2,912    6,618   li,160    3,988   
Aug.    30,713   10,117  853    2,088    2,9117    6,513   11,223    3,972   
19110   31,7811  10,780  916    1,722  3,023       6,906   11,310    11,136  
19hl    35,668   12,97b  9117   2,236  3,21i8      7,378   li,li38   li,lili6
Jan.    32,878   11,603  933    1,929  3,011       6,888   11,301    b,213   
Dec.    37,3119  13,817  1,007  1,967  3,333       8,123   11,1103   11,699  
19112   38,11117 15,051  970    2,078    3,1133    7,263   11,1417   5,203   
May '   38^001   111,576 977    2,089    3,1119    7,2141  11,589    5,107   
Sept.   39,653   15,800  967    2,3117    3,517    7,155   11,382    5,1185  
Oct.    39,900   15,956  959    2,286     3,519    7,296   11,330    5,551i  
19113   39,728   16,9211 891    1,259  3,619       7,030   11,115    5,890   
May     39,6711  16,753  889    1,385    . 3,597   6,953   11,102    5,995 , 
191111  38,698   16,121  835    679    3,761       7,01ili li,31i8   5,911   
Jan.    38,965   16,825  858    764       3,664    6,919   11,128    5,807   
Feb.    38,840   16,735  858    715    3,701i      6,867   11,131    5,830   
March   38,725   16,559  852    678    3,723       6,919   11,123    5,871   
April 38,689     16,309  81tli  683    3,71ili     6,968   11,236    5,905   
May     38,672   16,122  839    686    3,768       6,962   11,363    5,932   
June    38,846   16,093  8I1I1  691.   3,803       6,977   11,51(2   5,896   
July    38,731   16,013  833    686    3,809       6,9112  4,618     5,830   
Aug.    38,71tli 16,023  8311   700    3,818       6,918   11,582    5,869   
Sept.   38,571   15,8113 826    671    3,791       6,9911  11,1188   5,958   
Oct.    38,360   15,692  816    652    3,767       7,1118  11,31(0   5,91t5  
Nov.    38,3117  15,607  812    629    3,771       7,299   11,315    5,911i  
Dec.    38,889   15,632  806    591i   3,770       7,6U    li,30li   6,172   

1/ Includes all full and part-time wage and salary workers in nonagricultural establishments who are employed during the pay period ending nearest the 15th of the month. Proprietors, self-employed persons, domestic servants, and personnel of the armed forces are excluded.
y Includes federal force account construction.
   Excludes federal force account construction.

      EMPLOYEES IN NONAGRICULTURAL ESTABLISHMENTS IN THE      UNITED STATES      
                          BY MAJOR INDUSTRY DIVISION 1/                          
NOTE: See pa  g                   (In Thousands)                                 
                                          Transpor-           Finance           
Year          Manu-              Con-     tation &            Service & Civilian
and   Total   fac-      Mining   struc-   Public      Trade   MisceIla- Govern- 
Month         turing              tion 2/ Utilities           neous     ment 3/ 
1945  36,981  13,897    779      834      3,822       7,173   4,589     5,887   
Jan«  37,952  15,555    801      582      3,740       7,030   4,350      5,894  
Feb.  37,968  15,517    798      599         3,771    6,985   4,360     5,938   
March 38,062  15,368    796      636      3,788       7,084   4,394     5,996   
April 37,791  15,102    761      699      3,792       6,990   4,444     6,003   
May   37,679  14,811    728      798      3,802       7,021   4,513     6,006   
June  37,556  14,538    794      845      3,833       7,004   4,589     5,953   
July  37,273  14,130    784      911      3,858       6,975   4,672     5,943   
Aug.  36,981* 13,831    784      927      3,860       6,979   li,666    5,937   
Sept. 35,321  12,082    784      945      3,831       7,143   4,603     5,933   
Oct.  35,231  11,952    718      1,006    3,825       7,331   4,698     5,701   
Nov.  35,631  11,966    793      1,014    3,870       7,568   4,845     5,575   
Dec.  36,339  11,935    802      1,032    3,896       7,969   4,936     5,769   
w                                                                               
Jan.  35,815  12,038    810      1,132    3,897       7,481   4,984     5,473   
Feb.  35,360   11,393   808      1,260    3,906       7,500   5,031     5,462   
March 36,271   12,004   801      1,349    3,929       7,618   5,076     5,tot   
April 36,721  12,376    490      -1,544   3,934       7,738   5,138     ii^     
May ______              /                                                       
June                                                                            
July                                                                            
Aug. _______                                                                    
^* ---                                                                          
Nov*                                                                            
Dec. ---_                                                                       
w _                                                                             
Jan.                                                                            
Feb.                                                                            
^arcb---_                                                                       
April^_^                                                                        
May                                                                             
June                                                                            
July                                                                            
Aug. ---                                                                        
oct. __                                                                         
Nov. ---                                                                        
DOC. ^__                                                                        

Footnotes 1, 2, 3, see proceeding page

SOURCEt United States Department of Labor, Bureau of Labor Statistics

68

INDUSTRIAL ACTIVITY



Industrial Production

The series on industrial production are compiled by the Board of Governors of the Federal Reserve System, and are published monthly in the Federal Reserve Bulletin« During the war years, the Board founTTFTecessaiy’To^^ the index in order that it mi^it reflect the far-reaching effects of the rapidly expanding military program on manufacturing activity. The revised index was first published and fully discussed in the October 19h3 issue of the Bulletin, which describes it, in part,as follows:

     The index is an overall measure of changes in the physical volume of production of manufactures and minerals; it does not cover other types of goods and services and it does not reflect changes in prices.. As now revised the index is derived from about 100 individual series, 20 more than heretofore. These 100 series are distributed among 16 groups of manufacturing industries and two groups of mining industries.

     Some of the individual series are based on statistics of monthly output of materials or finished products while other series relate to consumption or shipments of materials, machinery hours active, or manhours worked. Statistics of manhours worked in a number of lines are adjusted to allow for broad changes in output per manhour, as measured by other data not suitable for use in a monthly production index. Many of the other series are also adjusted to more accurate physical volume figures not available monthly, such as Census statistics. All principal groups of industries in manufacturing and in mining are directly represented in the index at some stage in the production process.

     Peacetime classifications and titles are retained in this revision but for a number of series, especially machinery and transportation equipment, the titles are no longer accurately descriptive of the output of the plants covered.

The relatives for the individual series are combined into composite index numbers for industries, for groups of industries and for industrial production as a whole. In compiling the composite indexes the importance (weight) of the individual series was measured by the value added by manufacture shown in the Census of Manufactures and by the value of minerals shown in the ^.nerals Yearbook.

Two sets of indexes are computed - one with, and one without, adjustment for seasonal variation. The seasonal adjustment factors were derived by the ratio to freehand curve method.


69



                           INDUSTRIAL ACTIVITY



                          Industrial Production



   The Handbook includes indexes for the following industry breakdowns:



        Industrial Production, Total

        Minerals, Total

          Bituminous Coal
          Anthracite Coal
          Crude Petroleum
          Metals

        Manufactures, Total

          Durable Manufactures, Total

            Iron and Steel
            Machinery
            Transportation Equipment
            Nonferrous Metals and Products
            Lumber and Products
            Stone, Clay and Glass Products

          Nondurable Manufactures, Total

            Textiles and Products
            Leather and Products Manufactured Food Products Petroleum and Coal Products Chemical Products Rubber Products


70

INDEX NUMBERS OF INDISTRIAL PRODUCTION: TOTAL, MANUFACTURES AND MINERAIS

Not Adjusted for Seasonal Variation

NOTE: See p, 68  (1935 - 1939 a 100)                                      
Year  Total      Total                     Minerals                       
and   Industrial Manufac- Total    Bituminous Anthracite Crude           
Month Production tures    Minerals Coal       Coal       Petroleum Metals
1919  72         72       71          116     172        32              
1920      75     74       83          141        174     38              
1921  58         56       66          104     178        40              
1922      73     74       71          106     108        47              
1923  88         86       98       142        183        63        118   
1924  82         81       89          122     172        61        . .108
1925      90     90       92          131     121        65        121   
1926  96         95       100         144     165        66        126   
1927      95     94       100 V       130     157        77        116   
1928  99         99       99          126     147        77        120   
1929  110        110      107         135     144        86        134   
1930      91     90       93       118        136        77        102   
1931  75         74       80       96         117        73        68    
1932      58     57       67       78         98         67        36    
1933      69     68       76           84         97     77        51    
1934  75         74       80           90     112        78        58    
1935  87         87       86           94     102        85        73    
1936  103        104      99       110        107        94        102   
1937  113        113      112      112        101        109       127   
1938  89         87       97           88     90         104       86    
1939  109        109      106      99         101        108       113   
Aug.  107        109      94       100        85         82        135   
1940  125        126      117      116        •101       116       134   
1941  162        168      125      129        110        120       149   
Jan.  139        144      114      132        118        111       95    
Dec.  173        182      126      144        98         129       98    
1942  199        212      129      U5         117        118       148   
May   192        203      131      147        115        111       190   
Sept. 213        227      137      150        129        120       184   
Oct.  218        233      134      145        117        121       176   
1943  239        258      132      147        118        128       126   
May   239        258      132      143        124        125       148   
1944  235        252      140      156        126        143       113   
Jan.  240        259      133      161        119        137       82    
Feb.  240        259      136      162        143        139       85    
Mar.  238        257      133      155        123        138       86    
Apr.  237        255      138      155        129        139       112   
May   236        252      146      159        134        142       144   
June  236        252      146      158        128        143       148   
July  232        248      143      151        118        142       142   
Aug.  235        251      147      154        124        146       145   
Sept. 234        249      147      151        129        149       138   
Oct.  234        250      144      152        133        143       123   
Nov.  232        248      140                 126        U8        89    
Dec.  230        248      131      138        109        146       68    

71

INDEX NUMBERS OF INDUSTRIAL PRODUCTION: TOTAL, MANUFACTURES AND MINERAIS

                              Not Adjusted for Seasonal Variation                                  
NOTE: See p. 68               (1935 - 1939 »100).                                                 
Year Total          Total                                                                         
and Industrial      Manufac- Total    Bituminous            Anthracite Crude                      
Month Production    tures     Minerals Coal                 Coal       Petroleum Metals           
1945       203      234        137       344                107         146      101              
Jan.      230       248        134       151                96         148       68               
Feb.      232       249        135       150                112         148       68              
Mar.      232       249        136       349                115          150     . 72             
Apr.      229       245        140       138                131       ' 150      109              
May       225       240        141       145                47         152      131               
June      220       234        147       153                129         151      129              
July      211       223        145       146                117         153      125              
Aug•      188       196        .143       144               102         152      124              
Sept.     171       177        137      148                 114         138      123              
Oct.      164       171       125      HO                   120         133      116              
Nov.      167       173        134       159                112         141       30              
Dec.      161       167        126       342                94         139      61                
1946                                                                                              
Jan.      356       160        13h       159                114         Ihh                       
Feb.              V 150         134 _     _ 160             121         147      49_              
Mar.                170        131       168                125         138                       
               «LOU                                                                               
               Aur.                                                                               
May  __ __    • --- • ------   ---   _. ---                                                        
June  ___ ___ ___ ___ ------    --------- _------                                                  
July   ___ _____    ------            ---------    ____ ____                                       
Aug •   ___ ___ _____  __---    ___ ------ ---                                                     
Sept.         ___ ___ ------             ___ ____                                                  
Oct •   _____   _____    ---   -------     _____     ------ ____                                   
Nov.    _____    ____ ____ ____ ---------     _____  _____                                         
Dec •   ______   ___ ------   ___ _    ______                                                      
1947     _____ _____ _____ _____ _____ _____ ______                                                
Jan.    ____ _____    ___   ____ ___     _____  _____                                              
Feb.             >                       .          ______ ______ _______ ________                 
Mar.                                                                                              
Apr •  _________ ------   __ _ ___                                                                 
Mav                                    ____ _____ _____ _____                                      
June                                                                                              
July ______    ---_     _____    _____      _______      _____ _______                             
Aug.     _____ _____                                                                               
Sept. _____    _---     ___---   _____     _____     _____ _____                                   
Oct.    ____ ____ ____ ____ ____ ____ _____                                                        
Nov.    _____   _____    ____ ------     ____ ____ _____                                           
DeC •     ______                                        __1_sbb^^s^_____Â=ssBŒ___r3s^Œasi_-__---   

Source: Federal Reserve Board

72

INDEX NUMBERS OF INDUSTRIAL PRODUCTION: DURABIE MANUFACTURES

                                        Not Adjusted for Seasonal Variation     
NOTE: See p. 68                     (1935 - 1939 « 100) ___ _______________     
Year  All          Iron            Transpor- Nonferrous   Lumber   Stone, Clay,
and   Durable      and   Machinery tation    Metals       and      and Glass   
Month Manufactures Steel L         Equipment and Products Products Products    
1919  84*          84                                              50          
1920  93*          102                                             61          
1921  53*          48                                              58          
1922  81*          85                                              73          
1923  103          109   86        110       90           143      87          
1924       95      90    81        94        93           139      91          
1925  107          108   89        106       104          148      101         
1926  114          115   102       109       113          148      105         
1927  107          108   99        89        108          144      106         
1928  117          121   106       108       118          142      no          
1929  132          133   130       134       136          146      110         
1930  98           97    100          91     106          105      96          
1931  67           61    66        62        83              76    77          
1932       41      32    43           38     52           51       51          
1933  54            , 54 50           48     60              63    54          
1934       65      61    69           69     62              64    64          
1935       83      81    83        93        80              85    77          
1936  108          114   105       110       104          105      103         
1937  122          123   126       123       122          113      114         
1938  78           68    82        72        80              90    92          
1939  109          U4    104       103       113          106      114         
Aug.  106          110   103       87        107          114      122         
1940  139          147   136       U5        139          116      124         
1941  201          186   221       245       191          134      162         
Jan.  170          180   171       196       173          116      128         
Dec.  224          191   263       298       201          128      165         
1942  279          199   340       464       214          134      168         
May   265          200   322       412       200          137      174         
Sept. 300          199      365    539       223          139      171         
Oct.  312          207   380       567       230          140      176         
1943  360          208   443       735       267          129      173         
May   360          208   443       729       264          136      180         
1944  . 353        206   439       719       259          125      164         
Jan.  367          208   461       754       285          121      161         
Feb.  366          212   458       746       285          122      161         
Mar.  363          214   452       734       287          124      163         
Apr.  361          213   445       730       292          125      163         
May   357          210   437       726       279          127      165         
June  354          204   442       716       263          133      169         
July  348          202   435       704       243          130      165         
Aug.  349          203   434       707       245          135      167         
Sept. 343          202   427       695       238          128      164         
Oct.  346          206   428       704       233          125      167         
Nov.  341          201   422       699       234          120      163         
Dec.  342          198      431    709       229          113      159         

73

INDEX NUMBERS OF INDUSTRIAL PRODUCTIONS DURABLE MANUFACTURES

NOTE: See p. 68

Not Adjusted for Seasonal Variation (1935 - 1939 s 100)

Year All           Iron  *         Transpor- Nonferrous   Lumber   Stone, Clay,
and Durable        and   Machinery tat ion   Metals       and      and Glass   
Month Manufactures Steel           Equipment and Products Products Products    
1945        274    183   343       437       204          109      163         
Jan.       343     197   431       706       253          113      156         
Feb.       345     202   436       695       257          114      156         
Mar.       344     210   431       676       267          115      161         
Apr.       335     206   419       651       263          119      165         
May        323     204   405       610       248          120      167         
June       308     192   393       572       219          121      166         
July      292      187   371       535       196          116      168         
Aug.       240     155   310       405       165          113      165         
Sept.      195     163   230       273       139          104      166         
Oct.       187     146   232       258       144          94       167         
Nov.       192     167   231       252       148          95       162         
Dee.       184     164   232       217       147          86       159         
1946                                                                           
Jan.      164      102   217       219       351          99       163         
Feb.      136       43   189       197       -MT          110      172         
Mar. Tliy          170                                    115      b           
Apr.           '                          -   -                                 
May                                                                             
June                                                                            
July                                                                            
Aug.                                                                            
Sept.                                                                           
Oct.                                                                            
Nov.                                                                            
Dec.                                                                            
1947                                                                            
Jan.                                                                            
Feb.                                                                            
Mar.                                                                            
Apr.                                                                            
May                                                                             
June                                                                            
July                                                                            
Aug.                                                                            
Sept.                                                                           
Oct.                                                                            
Nov.                                                                            
Dec.     _____ _____ _____ _____ _____ _____                                    

* Indexes without seasonal adjustment have not been computed for the years 1919-1922« These are based on the adjusted data.

   Source: Federal Reserve Board

                                      7h                                         
       INDEX NUMBERS OF INDUSTRIAL    PRODUCTION S NONDURABLE MANUFACTURES        
                    Not      Adjusted for Seasonal Variation             i       
NOTEs_ See p* 68             (1935    - 1939 =   100)                            
Year   All Non-     Textiles Leather  M’f’d.     Petroleum                       
and    Durable      and      and      Food       and Coal     Chemical / Rubber  
Month  Manufactures Products Product: s Products Products     Products   Products
1919   62*          73       94       77                                         
1920   60*          67       86       69                                         
1921   57*          69       82       68                                         
1922   67*          79       93       77                                         
1923   72           i 33     99       82              56      57         63      
1924   69           72       86       81         59           56         66      
1925   76           84       88       85         69           63         81      
1926   79           34       90       87         76           70         80      
1927   83           92       94       88         78           73         83      
1928   85           87       93       93         87           78         98      
1929   93           94       95       101        96           89         100     
1930   84 '         74       84       100        89           87         78      
1931   79           79       82       90         80           78         72      
1932   70           71       76       79         69           68         64      
1933   79           88       88       83         74           76         77      
1934   81           76       91       88         79           83         86      
1935   90              93    99       89              85      89         93      
1936   100          104      103      98         97           99         107     
1937   106          106      102      103        108          132        104     
1938   95           85       93       101        100          96         83      
1939   109          112      105      108        110          112        113     
Aug.   112          109      112      127        110          107        112     
1940   115          114      98       113        120          130        123     
1941   142          152      123      127        135          176        163     
Jan.   122          138      107      105        126          343        145     
Dec.   147          156      117      126        143          207        166     
1942   158          157      122      134        347          278        172     
May    152          158      127      122        140          262        155     
Sent   .    167     157      115      163        151          299        180     
Oct.   168          159      120      147        154          317        191     
1943   176          153      114      345        185          384        223     
May    175          159      118      137        173          389        224     
1944   171          148      113      152        247          324        ’ 234   
Jan.   172          149      108      145        226          362        242     
Feb.   173          152      114      143        230          360        244     
Mar.   171          151      112      142        234          344        ¿42     
Apr.   169          151      116      143 '      233          325        231     
May    168          147      112      147        237          323        230     
June   169          145      1j4      153        242          316        228     
July   167          139      103      163        247          310        227     
Aug.   171          141      111      165        251          310        231     
Sept   173          147      121      166        258          307        230     
Oct.   173          246      115      159        266          309        231     
Nov.   173          149      118      I55        268          308        231     
Dec.   171                   113      150        268          313        239     

75

    INDEX NUMBERS CF INDUSTRIAL PRODUCTION: NONDURABIE MANUFACTURES           
                         Not Adjusted for Seasonal Variation                  
NOTE': See p. 68             (1935 - 1939 = ICO)                              
Year  All Non     Textiles   Leather  M’f’d.   Petroleum                     
and   Durable     and        and      Food     and Coal Chemical Rubber       
Month Manufactures Products  Products Products Products Products 2/ Products  
1945  166         146        117      150      235       284         215     
Jan.  170         150        114      143      273       316         247     
Feb.  172         155        125      UI       276       319        247      
Mar.  172         153        122      U2       272       321         236     
Apr.  171         149        122      U5       268       320         233     
May   172         150        121      U6       273       318         224     
June  173         150        126      150      269       315         222     
July  167         132        107      157      267       303         218     
Aug.  159         134        107      151      240       261         193     
Sept. 161         144        118      166      184       239         172     
Oct.  158         141        113      153      156       232         191     
Nov.  158         146        117      151      174       230        192      
Dec.  154         143        111      149      172       231        205      
1946                                                                         
Jan.  “ST         151        117      M        166       233         21¿     
Feb.  162         159        J2L                         233         215     
Mar.  -161.       162                                                        
Apr.                                                                         
May                                                                          
June                                                                         
July                                  1                                      
Aug.                                                                         
Sept.                                                                        
Oct.                                                                         
Nov.                                                                         
Dec.                                                                         
1947                                                                         
Jan.                                                                         
Feb.                                                                         
Mar.                                                                         
Apr.                                                                         
May                                                                          
June                                                                         
July                                                                         
Aug.                                                                         
Sept  •                                                                      
Oct.                                                                         
Nov.                                                                         
Dec.                                                                         

* Indexes without seasonal adjustment have not been computed for the years 1919-1922. These are based on the adjusted data.
1/ Years prior to 1939 not strictly comparable with later years-
Source: Federal Reserve Board

76

INDEX NUMBERS OF INDIETRIAL HlODUCTIONs TOTAL, MANUFACTURES AND MINERAIS

                      Adjusted for Seasonal Variation J/ NOTE» See p. 66           (1935 - 1939 ■ 100)

Year  Total      Total                    Minerals                      
and   Industrial Manufac- Total    Bituminous Anthracite Crude         
Month Production tures    Minerals Coal   Coal '   Petroleum     Metals
1919      72     72       71       116  172        32                  
1920      75     74       83       UI      174     38                  
1921  58         56       66       104  178        40                  
1922  73         74       71       106  108        47                  
1923  88         86       98       142     183     63            118   
1924  82         81       89       122  172        61            108   
1925  90         90       92       131  121        65            121   
1926  96         95       100      144     165     66            126   
1927  95         94       100      130  157        77            116   
1928  99         99       99       126  147        77            120   
1929  110        110      107      135     144     86            134   
1930  91         90       93       118     136     77            102   
1931  75         74       80       96   117        73              68  
1932  58         57       67       78   98         67              36  
1933  69         68       76       84   97         77              51  
1934  75         74       80       90      112     78            58    
1935  87         87       86       94      102     85              73  
1936  103        104      99       110     107     94            102   
1937  113        113      112      112     101     109           127   
1938  89         87       97       88   90         104             86  
1939  109        109      106      99      101     108           113   
Aug.  106        109      92       109     115     79            108   
1940  125        126      117      116     101     116           134   
1941  162        168      125      129     110     120           149   
Jan.  143        147      120      119     118     114           148   
Dec.  176        184      134      144  98         129           152   
1942  199        212      129      145     117     118           148   
May   191        203      126      147     115     111           156   
Sept. 208        222      131      150    • 129    120           145   
Oct.  215        230      129      345     117     121           140   
1943  239        258      132      147     118     128           126   
May   239        258      129 .    143     124     125           129   
1944  235        252      140      156     126     143           113   
Jan.  243        262      139      161     119     137           124   
Feb.  244        262      142      162     143     139           127   
Mar.  241        259      139      155  123        138           126   
Apr.  239        256      140      155     129     139           122   
May   236        253      143      159     134     142           120   
June  235        251      142      158  128        143           120   
July  230        246      139      151  118        142           117   
Aug.  232        248      142      154             146           114   
Sept. 230        246      143      151  129        149           113   
Oct.  232        248      143      152  133        148           111   
Nov.  232        248      143      155  126        148           112   
Dec.  232        249      137      138  109        146              111

77

         INDEX NUMBERS OF INDUSTRIAL PRODUCTION: TOTAL, MANUFACTURES AND MINERAIS


                           Adjusted for Seasonal Variation 1/ NOTE: See p« 68(193 5 - 1939 s 100)

Year   Total      Total     Minerals                                            
and    Industrial Manufac-  Total    Bituminous Anthracite  Crude              
Mghth. Production tures     Minerals Coal    Coal           Petroleum Metals   
1945   203        214       137      144     107            146       101      
Jan.   234        251       140      151     96             148       111      
Feb.   . 236      252       141      150     112            148       111      
Mar.   235        252       142      149     115            150       111      
Apr.   230        247       140      138     131            150       111      
May    225        240       138      145     47             152       no       
June   220        233       144      153     129            151       109      
July   210        222       143      146     117            153       109      
Aug.   186        194       140      144     102            152       105      
Sept.  167        1^        134      148     114            138       106      
Oct.   162        168       124      110     120            133       109      
Nov.   168        173       138      159     112            141       109      
Dec.      163     169       133      142     94             139       108      
1946                                                                           
Jan.      16o               TT       159     114            114a      108      
Feb.                        ihi      160     121            147                
Mar.                                 168     125            138                
Apr.                                                                           
May                         ------   ------- ---------                         
June                                                                           
July                                                                           
Aug.                                                                           
Sept.  ---        --------- ---                                                
Oct.                                                                           
Nov.                                                                           
Dec.                                                                           
1947                                                                           
Jan.                                                                           
Feb.                                                                           
Mar.                                                                           
Apr.                                                                           
May                                          ---            --------- ---------
June                                                                           
July                                                                           
Aug.                                                                           
Sept.                                                                          
Oct.   ---        ---                          ---------                       
Nov.                                                                           
Dec.                                                                           

1/ Annual indexes are averages of the unadjusted monthly indexes

Source: Federal Reserve Board


78

       INDEX NUMBERS OF INDUSTRIAL PRODUCTION: DURABLE MANUFACTURES                   
                              ■ Adjusted for Seasonal Variation 1/                    
NOTE:  See p. 68                       (193.5-1939 s 100)                             
Year   All       Iron               Transpor-      Nonferrous   Lumber   Stone, Clay,
and    Durable   and       Machinery tation Equip  - Metals     and      and Glass   
Month  Manufactures Steel       ment               and Products Products Products    
1919   84*       84                                                      50          
1920   93*       102                                                     61          
1921   53*       48                                                      58          
1922   81*       85                                                      73          
1923   103       109       86   110                90           143      87          
1924   95        90        81   94                 93           139      91          
1925   107       108 1     * 89 106                104          148      101         
• 1926 114       115       102  109                113          148      105         
1927   107       108       99   89                 108          144      106         
1928   117       121       106  ,108               118          142      110         
1929   132       133       130  134                136          146      110         
1930   98        97        100  91                 106          105      96          
1931   67        61        66   62                 83           Tb       77          
1932   41        32        43   38                 52           51       51          
1933   54        54        50   48                 60           63       54          
1934   65        61        69   69                 62           64       64          
1935   83        81        83   93                 80           85       77          
1936   108       114       105         110         104          105      103         
1937   122       123       126         123         122          113      114         
1938   78        68        . 82 72                 80           90       92          
1939   109       114       104         103         113          106      IH          
Aug.   109       113       105         106         110          106      115         
1940   139       147       136         145         139          116      124         
1941   201       186       221         245         191          134      162         
Jan.   172       180       171         193         173          130      143         
Dec.   225       191       263  298                200          136      169         
1942   279       199       340         464         214          134      168         
May    264       200       322  412                200          135      170         
Sept.  299       199       365  539                223          130      163         
Oct.   311       207       380  567                230          133      167         
1943   360       208       4431 735                267          129      173         
May    359       208       443  729                264          133      175         
1944   353       206       439  719                259          125      164         
Jan.   369       208       461  754                285          133      168         
Feb.   367       212       458  746                285          131      168         
Mar.   364       214       452  734                287          129      167         
Apr.   361       213       445  730                292          126      165         
May    356       210       437  726                279          124      161         
June   354       204       442        , 716        263          127      168         
July   347       202       435  704                244          124      165         
Aug.   348       203       434  707                245          127      162         
Sept.  342       202 ■     427  695                238          120      159         
Oct.   344       206       428  704                233          120      161         
Nov.   341       201       422  699                234          122      160         
Dec •  343       198       431  709                229          122      163         

79

INDEX NUMBERS OF INDUSTRIAL PRODUCTION: DURABIE MANUFACTURES

                                  Adjusted.for Seasonal Variation 1/                   
I NOTE; See p, 68__                      (1935 - 1939 = 100)                           
1 Year All           Tron              Transpor-     Nonferrous   Lumber   Stone, Clay
1 and Durable        and     Machinery tation Equip- Metals       and      and Glass  
I Month Manufactures Steel             ment          and Products Products Products   
11%5       274       183     343       487           204          109      163        
Jan.       345       197     431       706           253          126      162        
Feb.        346      202     436            695      257          123      163        
Mar.        345      210     431       676           267          121      166        
Apr•       336       206     419            651      263          119      167        
May        323       204     405       610           248          118      162        
1 June * 308         192     393       572           219          116      166        
July       292       187     371       535           196          110      169        
Aug.       239       155     310       405           165          107      160        
I Sept.       194    163     230       273           139          98       161        
Oct.       186       146     232       258           144          91       161        
Nov.       191       167     231       252           148          96       158        
Dec.        185      164     232            217      147          92 .     164        
11946                                                                                 
Jan.       loo       102                             "ST          109                 
Feb.        138-             w              297      141          119      ib3        
Mar.                 170     209                                  120                 
1 Apr,                                                                                
! May                                                                                  
June                                                                                   
July      _____ _____ _____ _____ _____                                                
Aug.   ___ _  ___ ___                                                                  
I Sept.                                                                                
Oct.                                                                                   
1 Nov.                                                                                 
i Dec.                                                                                 
1947                                                                                   
Jan.                                                                                   
Feb.                                                                                   
Mar.                                                                                   
1 Apr.                                                                                 
May                                                                                    
i June                                                                                 
July                                                                                   
Aug.                                                                                   
1 Sept.                                                                                
Oct.                                                                                   
1 Nov.                                                                                 
Dec •             x                                                                    
                                                                                       
* Estimated from adjusted    indexes.                                                 
: 4/ Annual indexes are averages of the unadjusted monthly indexes, except where       
   otherwise indicated•                                                               

Source:- Federal Reserve Board

80

      INDEX NUMBERS OF INDUSTRIAL PRODUCTION:    NONDURABLE MANUFACTURES        
                         Adjusted for Seasonal   Variation 1/                   
NOTE: See p. 68             (1935 - 1939 * 10(   ))                             
Tear  All Non-     Textiles  Leather   M»f»d.    Petroleum                     
and   Durable      and       and       Food      and Coal  Chemical    Rubber  
Month Manufactures Products  Products  Products  Products  Products 2/ Products
1919  62*          73        94        77                                      
1920  60*          67        86        69                                      
1921  57*          69 '      82        68                                      
1922  67*          79        93        77                                      
1923  72           83        99        82        56        57          63      
1924  69           72        86        81        59        56          66      
192$  76           84        88        85           69     63          81      
1926  79           84        90        87        76        70          80      
1927  83           92        94        88        78        73          83      
1928  85           87        93        93        87        78          93      
1929  93           94        95        101       96        89          100     
1930  84           74        84        100       89        87          78      
1931  79           79        82        90        80        78          72      
1932  70           71        76        79        69        68          64      
1933  79           88        88        83        74        76          77      
1934  81           76        91        88        79        83          86      
1935  90           93        99        89        85        89          93      
1936  100          104       103       98        97        99          107     
1937  106          106       102       103'      108       112         104     
1938  95           85        93        101       100       96          83      
1939  109          112       105       108       110       112         113     
Aug.  108          Hl        105       109       109       110         112     
1940  115          114       98        113       120       130         123     
1941  142          152       123       127       135       176         163     
Jan.  127          139       110       116       128                   U5      
Dec.  150          156       125       133       148       206         166     
1942  158          157       122       134       147       278         172     
May   153          158       127       128       HO        263         .155    
Sept. 161          157       116       137       151       298         180     
Oct.  165          159       119       137       154       314         191     
1943  176          153       114       145       185       384         228     
May   176          159       118       143       173       389         224     
1944  171          148       113       152       247       324         234     
Jan.  176          U9        108       154       226       364         242     
Feb.  177          152       111       158       230       359         244     
Mar.  175          151       112       159       234       341         242     
Apr.  172          151       116       158       233       323         231     
May   169          147       112       154       237       324         ‘230    
June  169          U5        115       153       242       319         228     
July  165          139       105       153       247       3U          227     
Aug.  168          141       112       147       251       314         231     
Sept. 168          147       121       146       258       307         230     
Oct.  169          146       115       149       266       307         231     
Nov.  173          149       116       154       268       307         231     
Dec.  173          152       114       155       268       312         239     

81

INDEX NUMBERS OF INDUSTRIAL PRODUCTION: NONDURABLE MANUFACTURES Adjusted for Seasonal Variation 1/

NOTE: Seep. 68________________________(1935 - 1939 a 100)

Year  All Non-     Textiles Leather  M’f’d.   Petroleum                      
and   Durable      and      and      Food     and Coal  Chemical     Rubber  
Month Manufactures Products Products Products Products  Products 2/^ Products
1945  166          146      117      150      235       284          215     
Jan.  175          I50      113      155         273    317          247     
Feb.  176          155      121      158      276       318          247     
Mar.  176          153      122      160      272       319          236     
Apr.  174          149      122      160      268       318          233     
May   173          150      121      153         273    319          224     
June  173          150      127      151         269    318          222     
July  165          132      109      147         267    307          218     
Aug.  157          134      108      138      240       26$          193     
Sept. 156          144      119      144         184    239          172     
Oct,  154          141      112      143      156       230          191     
Nov.  158          146      116      HO          174    228          192     
Dec.  156          143      UI       153      172       230          205     
1946  161          151      117      ******      JZ£                       it
Jan.  168          162                                                       
Feb.                                                                         
Mar.                                                                         
Apr.                                                                         
May                                                                          
June                                                                         
July                                                                         
Aug.                                                                         
Sept.                                                                        
Oct.                                                                         
Nov.                                                                         
Dec.                                                                         
1947                                                                         
Jan.                                                                         
Feb.                                                                         
Mar.                                                                         
Apr.,                                                                        
May                                                                          
June                                                                         
July                                                                         
Aug.                                                                         
Sept.                                                                        
Oct.                                                                         
Nov.                                                                         
Dec.                                                                         

* Estimated from adjusted indexes
1/ Annual indexes are averages of the unadjusted monthly indexes, except where otherwise indicated
a/ Years prior to 1939 net strictly comparable with later years
Source: . Federal Reserve Board

697283 0—46------6

82

INDUSTRIAL ACTIVITY



Employment  Pay Rolls,  Hours, and Earnings


     These series are compiled fay the Bureau of Labor Statistics of the United States Department of Labor, and published monthly in the Monthly Labor Review and in mimeographed releases entitled ’’Employment and Pay Rolls” and ’»Hours and Earnings”» Shown in the Handbook are series for the manufacturing industry group as a whoIeT” for the separate manufacturing industry groups and a few selected industries, and for selected nonmanufacturing industries»


      The basic data used by the Bureau in compiling these estimates are obtained from the same monthly sampling of identical manufacturing and nonmanufacturing establishments, which is described in the preceding section of the Handbook in connection with the series ’’Employees in Nonagricultural Establishments”:» This description should be referred to again at this point. However, it should be noted that these series relate to production workers, or wage earners, only.


     ^pfoyment and Pay Rolls: - The employment series represent production workers on the payroll during the pay period ending nearest the 15th of the month. The payroll series represent the weekly amount of the payrolls during the identical pay period«


     Seasonally adjusted indexes of factory production-worker employment are obtained from the Federal Reserve Board, which adjusts the Bureau of Labor Statistics unadjusted indexes. Details as to the methods employed by the Board appear in the January 19h3 issue of the Federal Reserve Bulletin.

     Hours and Earnings - General Note: - Not all reporting establishments in the sample discussed above supply data on manhours. Thus, the hours and hourly earnings series are based on a slightly smaller sample» Because of the differences in the samples, the employment and payroll series are not strictly consistent with the hours and earnings series.

     Average Hours Worked Per Week: - For the individual industries, the average number of hours worked per week is obtained as the quotient of total manhours and weekly production-worker employment (including both full-time and part-time employees). For the industry groups, the estimates of hours per week are weighted arithmetic means of the average hours worked per week in the individual industries, the weights being employment in the individual industries.


83

INDUSTRIAL ACTIVITY

Deployment,  Pay Rolls,  Hours, and Earnings (Continued)

     Average Weekly Earnings? - Average weekly earnings for each industry separately is confuted as the quotient of weekly payrolls and weekly employment. For the industry groups, average weekly earnings is . computed as the product of the weighted arithmetic means of average weekly hours for the individual industries and the weighted arithmetic means of average hourly earnings for the individual industries»

     Gross Average Hourly Earnings: - For the individual industries, gross average hourly earnings is computed as the quotient of production-worker payrolls and manhours. For the industry groups, gross average hourly earnings is obtained as the weighted arithmetic means of average hourly earnings for the individual industries, the weights being manhours.

     Straight-time Average Hourly Earnings: - As an approach to measuring changes In basic wage rates, the "Sureau of Labor Statistics has made estimates of straight-time hourly earnings. Gross average hourly earnings for the individual manufacturing industries were deflated to eliminate the influence of overtime pay, on the assumption that overtime is paid for at one-and-a-half times the straight-time rate. Estimates for all manufacturing industries combined and for the durable goods and nondurable goods groups are weighted averages (current manhour weights) of the straight-time hourly earnings for the individual industries. The influence of payments for shift differentials, production and incentive bonuses and double-time pay far Sunday- and holiday work continues in such estimates of straight-time hourly earnings, thereby to some extent still resulting in an overstatement of straight-time hourly earnings.

     The changing composition of the working force within plants, the shifting of workers between plants within the same industry, and the shifting of workers between the lower and the higher paying industries may also result in changes in gross and straight-time average hourly earnings even though no changes in wage rates had taken place. In order to eliminate the effect of the shifting of workers between industries on changes in average hourly earnings, the Bureau of Labor Statistics also computed estimates of straight-time average hourly earnings on the basis of fixed weights, that is, on the basis of manhours of employment by industry as of certain specified dates significant from the standpoint of the Nation¹ s wage stabilization program. Estimates for all manufacturing industries combined and for the durable and nondurable groups, on the January 19^1 fixed-weight basis, are also shown in the Handbook. Estimates of straight-time average hourly earnings with theTeiTecT of the other changes in the working force eliminated are not available. (For a detailed description of the methods employed by the Bureau of labor Statistics, see the Monthly Labor Review, November 19t2 and November 19h3)«


8U



INDUSTRIAL ACTIVITY


Employment, Pay Rolls, Hours, and Earnings (C ont inued )

            The selected industries for which these data are shewn are as follows:                                          '

                 Manufacturing Industries
                   All Industries Combined
Durable Goods Industries, Combined
                       Iron and Steel
                         Blast Furnaces, Steel Works and Rolling Mills
                       Electrical Machinery
                       Machinery, Except Electrical
                       Transportation Equipment, Except Automobiles Shipbuilding and Boatbuilding
                       Automobiles
                       Nonferrous Metals and Their Products
                       Aluminum Manufactures
                       Lumber and Timber Basic Products
                       Furniture and Finished Lumber Products
                       Stone, Clay and Glass Products
                     Nondurable Goods Industries, Combined
                       Textile-Mill Products and other Fiber Manufactures Apparel and other Finished Textile Products Leather and Leather Products Food
                         Slaughtering and Meat Packing
                       Tobacco Manufactures
                       Paper and Allied Products
                       Printing, Publishing and Allied Industries Chemicals and Allied Products Products of Petroleum and Coal Rubber Products

                 Nonmanufactuning Industries
                   Anthracite Coal Mining
                   Bituminous Coal Mining
                   Metal Mining
                   Quarrying and Nonmetallic Mining
                   Crude Petroleum Production
                   Wholesale Trade
                   Retail Trade

85

            INDEXES OF FACTORY EMPLOYMENT AND STRAIGHT-TIME AVERAGE HOURLY EARNINGS              
                                 MANUFACTURING     INDUSTRIES                                    
| NOTE: See p. 82                                                                                
               Indexes of Factory Employment                         Straight-time               
[Year       Adjusted for Seasonal Variation                   Average Hourly Earnings            
land                (1939 = 100)                   Fixed Weight      as Reported in January 1941  
[Month      All     Durable      Nondurable               All        Durable           Nondurable
            Manufacturing Goods  Goods             Manufacturing     Goods             Goods     
11939       100.0   100.0        100.0             $ .640            $ .701            $ .572    
I Aug.      99.9    98.4         101.0                   .637        .699              .568      
w           107.5   115.5        101.3                   .654        .712              .590      
w           132.1   153.8        115.0             .700              .769              .625      
I Jan.      118.8   133.7        107.1             .664*             .722              .601      
1 Dec.      140.6   168.2        118.9                   .744        .820              .660      
11942       154.0   193.8        122.7             .781              .861              .695      
1 May       149.9   185.0        122.2             .771              .847              .687      
1 Sept.     160.2   205.4        124.6             .811              .899              .715      
1 Oct.      162.9   210.5        125.3                   .807        .888              •718      
1943        177.7   241.7        127.4 -           .846              .933              .752      
1 May       176.9   239.1        127.8             .840              .925              .746      
|w .        172.4   235.6        122.7             .896              .982              .802      
Iw          149.5   188.5        118.8                   .934        1.013             .848      
| Jan.      168.1   226.1        122.4             .920              1.005             . .827    
I Feb.      168.0   225.8        122.5             .918              1.000             .829      
Mar.        166.5   222.8        122.0             .922              1.004             .633      
Apr.        163.8   217.6        121.3                   .925        1.007             •836      
[ May       160,8   211.5        120.8             .933              1.015             .844      
June        157.2   204.3        120.1             .931              1.012             .842      
July        151.7   195.2        117.4             .933              1.017             .842      
Aug.        147.6   187.5        116; 1                                                          
1 Sept.     127.8   144.8        114.5                               1.024             .856      
Oct.        127.2   142.6        115.1             .942              1.014             .863      
Nov,        127.8   143.3        115.6                   .949        1.020             .871      
1 Bsc.      128.1   141.2        117.8                   .957        1.028             .880      
191:6                                                                                            
Jan.        130.7   144.4        119.8             .970              *Xq3T             .895      
I Feb.      122.3   122.6        122.1             .982              1.04-7            .911      
Mar.        130.1   138.2        123.7                   1.007       1.076             .932      
Apr.        134.8   148.0        124.4                                                           
May                                                                                              
| June                                                                                           
July                                                                                             
| Aug.                                                                                           
| Sept,                                                                                          
| Oct.                                                                                           
I Nov,                                                                                           
: Bec.                                                                                           
' W                                                                                              
| Jan.                                                                                           
Feb.                                                                                             
Mar.        *                                                                                    
Apr.                                                                                             
May                                                                                              
June                                                                                             
| July                                                                                           
Aug.                                                                                             
Sept.                                                                                            
1 Oct.                                                                                           
Nov.                                                                                             
Dec.                                                                                             

y Mot available for August 1945 because of the two VJ day holidays, which rendered inapplicable the estimating method«
SOURCE: Employment: Board of Governors, Federal Reserve System
        Earnings:             United States Department of labor, Bureau of Labor Statistics

86

                                   ALL MANUFACTURING INDUSTRIES                          
NOTEt See p. 82             Employment, Pay Rolls, Hours, and Earnings                   
      Production Workers  Production Worker   Average           Average Hourly Earnings  
Year  Estimated  Index    Weekly   Pay Rolls  Weekly    Average                 Strait-  
and   Number     (1939 ’  ■ Amount Index      Earnings  Week ly Gross     Time          
Month (000)      100)     ($000)   (1939=100) (Dollars) Hours   (Dollars) (Dollars)     
1914  6,868      83.8     $77,142  42.7        $11.08   49.4    $ .223    OB OB         
1915  7,185      87.7     83,113   46.0       11.72     51.0    .230      MB OB         
1916  8,389      102.4    108,633  60.2       13.12     51.0    .257      MB MB         
1917  8,928       109.0   136,937  75.8       15.54     51.0    .305      MM MB         
1918  9,088       110.9   178,142  98.6       19.86     49.0    .405      sb so         
1919  8,741       106.7   191,961  106.3      22.25     46.3    .477      OB BM         
1920  8,782      107.2    229,703  127.2      26.50     47.7    .555                    
1921  6,717      82.0     148,259  82.1       22.36     43.5    .514                    
1922  7,430      90.7     159,094  88.1       21.69     45.0    .482      MB MB         
1923  8,511       103.9   201,712  111.7      24.01     45.6    .522      MB MB         
1924  7,905      96.5     187,988  104.1      23.93     43.7    .547      BO «          
1925  8,176      99.8     198,281  109.8      24^7      44.5    .547      OB MB         
1926  8,331       101.7   204,240  113.1      24.65     45.0    .548      OB OB         
1927  8,159      99.6     200,629  111.1      24.74     45.0    .550      OB *          
1926  • 8,167    99.7     202,796  112.3      24.97     44.4    .562      OB OB         
1929  8,692      106.1    216,310  119.8      * 25.03   44.2    .566      M- OB         
1930  7,578      92.5     175,166  97.0       23.25     42.1    .552      --- ---       
1931  6,398      78.1     132,910  73.6       20.87     4o.5    .515      OB »          
1932  5,439      66.4     91,556   50.7       17.05     38.3    .146      MB OB         
1933  6,013      73.4     98,238   54,4       16.73     38.1    .442      OB OB         
1934  7,029      85.8     126,409  70.0       18.40     34.6    .532      MB OB         
1935  7,479      91.3     145,190  80.4       20.13     36.6    .550      OB OB         
1936  8,110      99.0     168,124  93.1       21.78     39.2    .556      OB BO         
1937  8,905       108.7   200,809  111.2      24.05     38.6    .624      OB OB         
1938  7,455      91.0     153,677  85.1       22.30     35.6    .627                    
1939  8,192      100.0    180,584  100.0      23.86     37.7    .633               $.622
Aug»  8,233      100.5    180,584  100.0      23.77     38.1    .624      .613          
1940  8,811      107.5    206,769  114.5      25.20     38.1    .661      .648          
1941  10,825     132.1    302,478  167.5      29.58     40.6    .729      .702          
Jan»  9,580      116.9    239,454  132.6      26.64     39.0    .683      .664          
Dec»  11,557     141.1    352,319  195.1      32.18     41.1    .783      .750          
1942  12,617     154.0    442,792  245.2      36.65     42.9    .853      .805          
May   12,197     148.9    415,524  230.1      35.82     42.9    ’ .835    .788          
Sept» 13,281     162.1    480,353  266.0      37.80     42.4    .892      .844          
Oct.  13,411     163.7    498,773  276.2      38.89     43.6    .893      .839          
1943  14,560     177.7    603,873  334.4'     43.14     44.9    .961      .894          
May   14,401     175.8    596,650  330.4      43.08     45.2    .953      .885          
1944  14,126     172.4    624,279  345.7      46.08     45.2    I.019     .947          
Jan»  14,609     178.3    634,933  351.6      45.29     45.2    1.002     .931          
Feb.  14,585     178.0    636,920  352.7      45*47     45.3    1.003     .931          
March 14,433     176.2    632,947  350.5      45.64     45.3    1,006     .934          
April 14,234     173.8    623,015  345.0      45.55     45.0    1.013     .942          
May   14,113     172.3    623,557  345.3      46.02     45.3    1.017     .944          
June  14,110     172.2    625,904  346.6      46.24     45.4    1.017     .944          
July  14,078     171.9    613,263  339.6      45.43     44.6    1.018     .950          
Aug.  14,093     172.0    619,584  343.1      45.88     45.2    1.016     .945          
Sept. 13,936     170.1    617,417  341.9      46.24     44.8    1.032     .962          
Oct»  13,801     168.5    620,848  343.8      46.94     45.5    I.03I     .956          
Nov.  13,735     167.7    615,791  341.0      46.85     45.3    1.035     .961          
Dec»  13,789     168.3    626,085  346.7       , 47.44  45.6    I.040     .963          

8?

ALL MANUFACTURING INDUSTRIES

1 NOTE: See p. 82               Employment, Pay Rolls,  Hours, and 8 irnings                          
        Production Workers        Production Worker     Average              Average Hourly Earnings  
1 Year  Estimated index            Weekly Pay Rolls     Weekly       Average        ®     ^Straight-  
I and   Number       (1939 :    : Amount   Index        Earnings     Weekly  Gross     Time          
1 Month (000)           100)    ($000)     (1939-100)   (Dollars)    Hours   (Dollars)      (Dollars)
I MS    12,250       1119.5      $520,8011 288.li       $ 1111.111   Ii3.li  $1,023            $.963*
Jan.    13,736       167.7      6211.098   3115.6       117.50       115.1:  1.0116    .970          
Feb.    13,725       167.5      622,651:   31111.8      117.37       115.11  1.01:3    .968          
I March 13,601       166.0      617,056    3111.7       117.110      115.11  1.0141    .969          
April   13,356       163.0      601,886    333.3        117.12       115.1   1.0141    .971          
May     13,090       159.8      575,521    318.7        116.02       U1.1 .  1.01:2    .976          
i June  12,855       156.9      568,117    3U.6         116.32       1111.6  1.038     .969          
July    12,1159      152.1      539,1101:  298.7        115.1:5      141.0   1.033     .969          
1 Aug.  12,179       1118.7     1182,701   267.3        1:1.72       110.7   1.0211                 *
Sept.   10,5.29      128.5      1:011,869  2211.2       110.87       111.11  .987      .9116         
1 Oct,  io,k5o       127.6      1102,522   222.9        110.97       1:1.6   .985      .9h5          
Nov.    10,503       128.2      1102,522   222.9        110.77       111.2   .990      .951          
Dec.    10,519       128.li     1108,1181  226.2        111.21        111.5  .9911     .9511         
   w                                                                                                 
Jan.    10,666       130.2      1113,899   229.2              111.25 111.0   1.0011 .  .966          
Feb.    9,983        121.9      379,585    220.2        1:0.55       110.5   1.001     .967          
March   lp,62h       129.7      1:19,858     _232^5_    112,21t      110.8   1.0311    .998          
April   J2M .        VM                                                                              
May                                                                                                  
June                                                                                                 
July                                                                                                 
Aug.                                                               /                                 
Sept.                                                                                                
Oct.                                                                                                 
Nov.                                                                                                 
Dec.                                                                                                 
w                                                                                                    
Jan.                                                                                                 
Feb.                                                                                                 
March                                                                                                
April                                                                                                
May                                                                                                  
June                                                                                                 
July                                                                                                 
Aug,                                                                                                 
Sept,                                                                                                
Oct,                                                                                                 
Nov,                                                                                                 
Dec,    •                                                                                            
* 11 Month average.  Double holiday in August (VJ Day) invalidates an estimate.                      
SOURCE  : United States Department of Labor, Bureau     of labor Statistics                          

88

INDUSTRY GROUP: DURABIE GOODS MANUFACTURING

NOTE: See p. 82  Employment, Pay Rolls, Hours, and Earnings                             
      Production Workers Production Worker   Average           Average Hourly Earnings  
Year  Estimated   Index  Weekly Pay Rolls    Weekly    Average           Straight-     
and   Number     (1939®  Amount   Index      Earnings  Weekly  Gross     Time          
Month (000)       100)   ($000)   (1939®1OO) (Dollars) Hours   (Dollars) (Dollars)     
1923  4,167      115.4   $106,956 119.8                                  BB» «B        
1924  3,857      106.8   99,368   111.3      BB BB     •* «m   BB «B     BB» «B        
1925  3,979      110.2   104,635  117.2      •B BB     bb a»   BB ---I   --- •*        
1926  4,102      113.6   108,653  121.7      ■» BB     bb *    BB *      BB BB         
1927  3,860      106.9   102,403  114.7      abb «at   BB MB   BB BB     BB BB         
1928  3,907      108.2   105,974  118.7      bb «      BB BB   BB MB     BB «BB        
1929  4,250      117.7   115,170  129.0      a* bb     bb er   BB *      BB» BB        
1930  3,506      97.1    86,868      97.3              «bb bb  «BB «BB   BBB BB        
1931  2,712      75.Ì    57,674   64.6                 BB                            BB
1932  2,112      58.5    34,640      38.8    $16.21    32.6      $.497   --- BB        
1933  2,304      63.8    38,122      42.7    16.43     34.8    .472      e» bb»        
1934  2,896      80.2    54,103   60.6       18.87     33.9    .556      BBB BB        
1935  3,192      88.4    66,424      74.4    21.52     37.3    .577      BB BBB        
1936  3,629      100.5   83,565   93.6       24.04     41.0    .586                    
1937  4,174      115.6   106,063  118.8      26.91     40.0    .674      --- ---•      
1938  3,156      87.4    70,352      78.8    24.01     35.0    .686      BB BB         
1939  3,611      100.0   89,279   100.0      26.50     38.0    .698               $.685
Aug.  3,488      96.6    86,154      96.5    26.63     38.7    .688      .675          
1940  4,172      115.5   111,688  125.1      28.44     39.3    .724      .706          
1941    5,554-   153.8   180,611  202.3      34.04     42.1    .808      .770          
Jan.  4,798      132.9   138,561  155.2      30.48     40.7    .749      .722          
Dec.  6,084      168.5   216,055  242.0      36.93     42.5    .869      .823          
1942  6,997      193.8   290,692  325.6      42.73     45.1    .947      .881          
May   6,682      185.0   269,355  301.7      41.81     45.2    .925      .860          
Sept. 7,431      205.8   320,154  358.6      44.45     44.6    .997      .931          
Oct.  7,612      210.8   333,993  374.1      45.31     45.8    .990      .919          
1943  8,727      241.7   419,165  469.5      49.30     46.6    1.059     .976          
May   8,635      239.1   413,808  463.5      49.25     46.9    1.050     .966          
1944  8,506      235.6   430,771  482.5      52.07     46.6    1.117     1.029         
Jan.  8,931      247.3   445.234  498.7      51.21     46.6    1.099     1.023         
Feb.  8,894      246.3   444,877  498.3      51.40     46.7    1.100     1.023         
Mar.  8,793      243.5   441,217  494.2      51.54     46.7    1.103     1.015         
Apr.  8,669 •    240.1   436.306  488.7      51.67     46.5    1.110     1.023         
May   8,592      237.9   434,164  486.3      51.89     46.6    1.112     1.025         
June  8,550      236.8   433,717  485.8      52.14     46.8    1.113     1.024         
July  8,468      234.5   421,218  471.8      51.07     45.7    1.116     1.035         
Aug.  8,427      233.4   424,968  476.0      51.84     46.6    1.112     1.025         
Sept. 8,286      229.5   420,504  471.0      52.18     46.1    1.132     1.047         
Oct.  8,181      .226.6  423,272  474.1      53.18     47.1    1.129     1.038         
Nov.  8,125      225.0   418,540  468.8      53.04     46.7    1.136     1.046         
Dec.  8,154      225.8   425,057  476.1      53.68     47.1    1.140     1.046         

89



INDUSTRY GROUPS DURABLE GOODS MANUFACTURING
Employment, Pay Rolls, Hours, and Earnings

NOTE: See p. 82

       Production workers  Production Worker  Average           Average Hourly Earnings  
Ie ar  Estimated Index     Weekly Pay Rolls   Weekly    Average               Straight-  
and    Number    (1939=    Amount    Index    Earnings  Weekly  Gross     Time          
Month  (000)  100)         (iiooo) (1939-100) (Dollars) Hours   (Dollars) (Dollars)     
1945   6,809  138.5 $ 327,297      366.6      $ 49.07   44.1 .  $1,111    $1,042*       
Jan.   8,155  225.8        423,713 474.6      53.54     46.8    1.144     1.053         
Feb.   8,142  225.5        421,397   472.0    53.30     46.8    1.139     1.048         
Mar«   8,039  222.6        415,237   465.1    53.22     46.7    1.139     1.049         
Apr. - 7,854  217.5        403,184 451.6      52.90     46.5    1.138     1.050         
May    7,639  211.5        381,757 427.6      51.56     45.5    1.134     1.055         
June   7,382  204.4        369,794   414.2    51.74     45.8    1.130     1.048         
July   7,054  195.3        345,599   387.1    50.66     44.9    1.127     1.052         
Aug.   6,779  187.7        299,442   335.4    45.72     41.1    1.113                  *
Sept.  5,234  144.9        219,805   246.2    43.95     41.0    1.072     1.033         
Oct.   5,151  142.6        217,573   243.7    44.23     41.6    1.063     1.021         
Nov.   5,180  143.5        215,877   241.8    43.71     41.1    1.064     1.024         
Dec.   5,097  141.2        214,270 240.0      44.08     41.4    1.066     1.025         
1946   5,205  ror          216,948   243.0    43.67 '   46.8"'  1.070     1.033         
Jan.                                                                                    
Feb.   4,417  122.3        177,397   198.7    42.49     4o.o    1.063     1.031         
Mar.   U,986  138.1        210,431   235.7    44.72     40.6    1.101     1,065         
Apr.   5,3^.  m.9                                                                       
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec«                                                                                    
1947                                                                                    
Jan.                                                                                    
Feb.                                                                                    
Mar.                                                                                    
Apr.                                                                                    
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec.                                                                                    

* 11 Month average« Double holiday in August (VJ Day) invalidates an estimate«

SOURCE: United States Department of Labor, Bureau of Labor Statistics

90

                     INDUSTRY GROUP: NONDURABIE GOODS MANUFACTURING                             
                           Employment , Pay Rolls, Hours, and Earnings                          
NOTE»  See p. 82                                                                                
       Production Workers  Production Worker       Average              Average Hourly Earnings  
Tear   Estimated index     Weekly     Pay Rolls    Weekly    Average              straight-     
and    Number    (1939=    Amount     Index        Earnings  Weekly     Gross     Time          
Month  (000)     100)      ($000)      (1939=100)  (Dollars) Hours      (Dollars) (Dollars)     
1923   I*,31*7   91».9      ♦ 91*,682 103.7                                                     
192U    l»,01»5  88.3      88,71*7    97.2         MA MB     * *        am es»                  
1925   l*,201    91.7      93,678     102.6        AM MB     MB M       AM AM     AM 4»         
1926   1»,1B7    91.1»     95,687     101*.8       4» MB     MA *       MB AM     A. AA         
1927   1*,297    93.8      98,152     107.5        AA MA     e» a»      ess «»    AM AM         
1926   l*,26O    93.0      96,871*    106.1                  e* am      AM AA     OS AM         
1929   MM*       97.0      101,256    110.9        AM MA     «» MB                              
1930   l*,O68    88.8      88,291     96.7                              --- ---                 
1931   3,692     '80.6     75,231*    82.1»                                AA                   
1932   3,321     72.5      56,971*    62.1»        1 17.57   1»1.9      $ .1*20                 
1933   3,715     81.1      60,078     65.8         16.89     1*0.0      .1*27     AM 4M         
193k   1»,127    90.1      72,1*01*   79.3         18.05     35.1       .515      AM 4M         
1935   1»,288    93.6      78,795     86.3         19.11     36.1       .530      AM 4M         
1936   l*,l*85   97.9      81*,1*56   92.5         19.91»    37.7       .529      AM AM         
1937   U,728       103.2   91*,771*   103.8        21.53     37.1*      .577      AM AM         
1938   1*,297    93.8      83,361     91.3         21.05     36.1       .581*                   
1939   1»,581      100.0   91,301*    100.0        21.78     37.1*      .582      $ .572        
Aug.   1»,71»5   103.6     91*,1*08   103.1*       21.77     37.8       .576      .565          
1910    1*,639   101.3     95,01*7    101*. 1      22.27     37.0       .602      .593          
191»!  5,270     115.0     121,891    133.5        21*. 92   38.9       .61*0     .625          
Jan.   11,782    1011.1»   100,891    UO.5         22.75     37.3       .610      •601          
Dec.   5,1*73    119.5     136,317    11*9.3       26.93     39.6       .680      .661          
W      5,621     122.7     152,112    166.6        29.13     1*0.3      .723      .698          
May    5,515     120.1*    11*6,178   160.1        28.55     1*0.1      .712      .689          
Sept.  5,850     127.7     160,11*7   175.1»       29.53     39.7       .71*3     .720          
Oct.   5,799     126.6     161*,801*  180.5        30.66     1*0.8      .751      .723          
191*3  5,831»    127.1*    IB!*,708   202.3        31*. 12   1*2.5      .803      .763          
May    5,766     125.9     182,882    200.3        31».O7    1*2.8    • .796      .755          
191*1» 5,621     122.7     193,1*73   211.9        37.12     1*3.1      .861      .811*         
Jan.   5,678     123.9     189,730    207.8        36.03     1*3.0      .838      .793          
Feb.     5,691   121*. 2   192,012    210.3        36.32     1*3.2      .81*2     •795          
Mar.   5,61*0    123.1     191,61*7   209.9        36.56     1*3.2      •81*6     .799          
Apr.   5,565     121.5     186,808    201*. 6      36.16     1*2.5      .850      .806          
May    5,521     120.5     189,1*56   207.5        37.03     1*3.2      .858      .810          
June   5,560     121.1*    192,286    210.6        37.30     1*3.3      .861      .813          
July   5,610     122.5     192,101*   210.1*       37.05     1*3.0      .862      .815          
Aug.   5,666     123.7     191*,660   213.2        37.15     1*3.0      .861*     .818          
Sept.  5,650     123.3     196,851    215.6        37.66     1*3.0      .876      .829          
Oct.   5,620     122.7     197,1*91   216.3        37.97     1*3.3      .878      .829          
Nov.   5,610       122.5   197,217    216.0        37.87     1*3.2      .877      .828          
Dec.     5,635   123.0     201,051    220.2        38.39     1*3.5      .883      .832          

91

INDUSTRY GROUPS NONDURABIE GOODS MANUFACTURING


NOTEs See p. 82

Employment, Pay Rolls, Hours, and Earnings

      Production Workers  Production Worker                     Average Hourly Earnings  
      Estimated Index     Weekly ^ay Rolls    Average                         Straight-  
Year  Number    (1939«    Amount     index    Weekly    Average Gross     Time          
and   (000)     100)      (1000)   (1939=100) Earnings  Weekly  (Dollars) (Dollars)     
Month                                         (Dollars) Hours                           
1945  5A1       118.8     ♦193,473   211.9    ♦ 38.30   42.4    ♦ .905    ♦ .858*       
Jan.  5,581     121.8     200,504  219.6      38.66     43.4    .891      .840          
Feb.  5,583     121.9     201,234    220.4    38.69     43.4    .892      .842          
Mar.  5,562     121.4     201,782    221.0    38.96     43.5    .896      .845          
April 5,502     120.1     198,586    217.5    38.80     43.2    .899      .850          
May   5,451     119.0     193,747    212.2    38.18     42.3    .903      .858          
June  5,473     129.5     198,404    217.3    38.95     43.1    .904      .854          
July  5,405     118.0     193,656    212.1    38.59     42.8    .902      .854          
Aug«  5,4oo     117.9     183,156    200.6    36.63     40.3    .909                   «
Sept« 5,295     115.6     184,982    202.6    37.80     41.8    .903      .861          
Oct«  5,299     115.7     184,982    202.6    37.76     41.5    .909      .870          
Nov«  5,323     116.2     186,717    204.5    37.89     41.3    .918      .879          
Dec«  5,422     118.4     194,204    212.7    38.52     41.5    .927      .887          
w                                                                                       
Jan«  5,461     "119.2    196,943  ’ “SISTT   38.75     41.2    .941                    
Feb«  5,566     121.5     202,238    221.5    39.03     40.9    .953      .917          
Mar«  5,638     123.1     209,360  . -22^     39.87     40.9                            
Apr.  ■ ^       123.2                                                                   
May                                   ---               ---                             
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Nov,                                                                                    
Dec.                                                                                    
1947                                                                                    
Jan.                                                                                    
Feb.                      1                                                             
Mar.                                                                                    
Apr.                                                                                    
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept«                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec.                                                                                    

* H Month average« Double holiday in Aug« (VJ Day) invalidates an estimate«

SOURCE: United States Department of Labor, Bureau of Labor Statistics

92

INDUSSI GROUP: IRON AND STEEL AND THEIR PRODUCTS


Employment, Pay Rolls, Hours, and Earnings

NOTEs   See p. 82                                                                                   
         Production Workers   Production Worker                            Average Hourly Earnings  
                              Weeklv Pav Rolls       Average                             Straight-  
Year    Estimated Index       Amount                 Weekly     Average                            
and     Number    (1939 -               Index        Earnings   Weekly     Gross        Time       
Month ' (000)     100)                  Í1Q1Q = inni (Dollars)  Hours      (Dollars)    (Dollars)  
1939    991       100.0       $25,921   100.0          127.52      37*2    ».739        1.729      
Aug.    968       97.7        25,247    974            27.82       37.7    .738         .727       
1940    1,134     114.5       31,442    121.3           2941       38.6    .755         .741       
1941    1,430     144.2       47,513    183.3          34*66       41.6    .833         .800       
Jan.    1,284     129.5       38,052    146.8          31.07       404     , .769       .745       
Dec •   1,502     151.5       53,294    205.6        37.05         424     •880         .841       
1942    1,592     160.6       63,118    243.5          40.96       43.6    .939         .886       
May     1,574     158.7       61,018    2354            4045       43.5    .923         .871       
Sept.   1,611     162.4       65,788    253.8           4244       43.0    .980         .929       
Oct.    1,626     164.0       68,069    262.6           4345       44.3    .979         .919       
1943    1,761     177.6       80,718    3114           47.76    46.2       1.033        .956       
May     1,758     177.4       80,070    308.9          47.61       464     1.026        .948       
1944    1,734     174.9       84,088    324 4          50.63       46.8    1.082        .997       
1945    1,525     153.8       72,190    278.5           4940       44*6    1.100        1.030      
Jan.    1,729     1744        85,514    329.9          51.65       46.9    1401         I.014      
Feb.    1,741     175.6       86,084    332 4          51.56       46.9    1.098        1.011      
Mar.    1,733     174.8       86,447    333.5          52.09    474        1407         1.017      
Apr.    1,707     172.1       85,229    328.8          52.08       46.9    1.109        1.021      
May     1,683     169.7       82,585    3184           51.14    46.0       1412         I.030      
June    1,630     1644        79,915    308.3           5144    46.0       1.112        I.030      
July    1,555     156.8       75,093    289.7           5041       45^2    1414         1.038      
Aug.    1,490     150.3       66,306    255 4          46.31    41.7       1409         1.064      
Sept.   1,240     125.1       53,631    206.9           4548    41.8       1.089        1.043      
Oct.    1,241     125.2       53,734    207.3           4540       424     1.078        1.031      
Nov.    1,255     126.6       54,538    2104           45.51       424     1.082        .958       
Dec.    1,294     130.5       57,156    220.5          46.38       42.5    1.091        1.039      
1946                                                                                               
Jan.    1,308     131.9       56,016    2164           44*95       414     1.095        1.056      
Feb.    843       85.0        32,972    127.2           4249       39.2    1.084        1.062      
Mar.    1,268     127.9       54,719    2114           46.79    404        1.168        1435       
Apr.    1,321     133.2                                         ---                     •■•■■■■•MM 
May                                     II .11   ■ ■            ■■MMM      ---                     
June                                                            ---                                
July                                                            ---                     •»---■■••  
Aug.                                                            .......  ■                         
Sept.             ---MM---                                      ---                     MaMMMM     
Oct.              MM---                                         M---M      ------       ---M       
Nov.                                                            MM«M^      «■•MMMM»                
Dec.    ------ .  1    "      --------- __---                   ---        ------------            
1947    ---       ---         ---       ---            ------   ---        ------                  
Jan.                                                                                               
Feb.                                    ---                     ---                        - mbmmMM
Mar.                                                            «■MMMM«                 ------•■■  
Apr.    ---                   ------    ---------    ---        ---                                
May                                                                                                
June                                    ------                                          ---M       
July    ---                                          «■M---BMM»            «MB---MM                
Aug.              MBHKMMM                            «■■MMMMB   ---                     MMMMM      
Sept.                                   MMMMMM                                          MM---      
Oct.                                                                                    ----M---   
Nov.                                                                                    «MMMMM     
Dec .                                                                                              
ocoree: ”“Ur3Të3"Stâtës Department of UboS», Bttfèâü Lâbôr-StâtiStlôB                              

93

INDUSTRY: BUST FURNACES, STEEL WORKS, AND ROLLING MILLS

1 NOTE : See p ._82__  Employment, Pay Rolls, Hours, and Earnings                             
        Production     Workers Production Worker   Average           Average Hourly Earnings  
I Year  Estimated      Index    Weekly Pay Rolls   Weekly    Average           Straight-     
I and   Number         (1939 « Amount   Index      Earnings  Weekly  Gross     Time          
1 Month (000)          100)    ($000)   (1939-100) (Dollars) Hours   (Dollars) (Dollars)     
I 1939  388.4          100.0   $ 11,501 100.0      $ 29.88   35.3    $ .845            $ .845
Aug.    370.2          95.3    10,995      95.6    30.26     35.7    .847      .847          
1910    450.9          116.1   14,134   122.9      31.49     37.0    .851      .840          
Ml      528.0          135.9   19,724   . 171.5    37.18     39.0    .953      .934          
I Jan.  493.3          127.0   16,481   143.3      33.60     38.7    .869      .852          
। Dec.  543.3          139.9   21,092   183.4      38.84     39.2    .992      .971          
M2      538.1          138.5   22,380   194.6      41.67     40.2    1.030     1.000         
- May   547.9          141.0   22,047   191.7      40.30     40.0    1.007     •980          
Sept.   532.1          137.0   22,967   199.7      43.21     39.9    1.077     1.049         
Oct.    526.3          135.5   23,082   200.7      43.93     40.9    1.073     1.037         
M3      516.6          133.0   25,566   222.3      49.77     44.3    1.124     1.055         
May     522.4          134.5   25,555   222.2      49.12     44.1    1.120     1.053         
Mil     482.9          124.3   25,727   223.7      54.02     46.3    1.167     1.079         
1916    458.0          117.9   23,691   206.0      52.44     44.1    1.188     1.117         
Jan«    474.8          122.2   25,808   224.4      55.04     46.2    1.191     1.102         
Feb.    478.4          123.1   25,716   223.6      54.58     46.3    1.181     1.092         
March   478.5          123.2   26,348   229.1      56.10     47.0    1.195     1.099         
April   475.4          122.4   26,279   228.5      56.32     47.0    1.199     1.103         
May     473.8          122.0   26,118   227.1      56.24     46.6    1.208     1.115         
June    470.0          121.0   25,624   222.8      55.39     45.6    1.214     I.I28         
July    461.6          118.8   24,991   217.3      54.89     45.1    1.218     1.135         
Aug.    456.7          117.6   22,909   199.2      50.74     42.2    1.204     I.150         
Sept.   422.4          108.8   20,161   175.3      47.51     40.4    1.171     1.235         
Oct.    426.1          109.7   19,482   169.4      46.22     40.4    1.243     I.208         
Nov.    431.5          111.1   19,965   173.6      46.81     40.8    1.246     1.208         
Dec«    446.3          114.9   20,839   181.2      47.33     41.0    1.155     1.115         
' M6    448.7.....     115.5"  19,919     173.2    36.75     3Ò.4*   1.217*    n.a.          
Jan«    U7.3           ZEZ                 Ju.          ■to. ■3LL                  1.269     
Feb.                   120.3                                                                 
March                                                                                        
April                                                                                        
May                                                                                          
June                                                                                         
July                                                                                         
Aug.                                                                                         
Sept.                                                                                        
Oct.                                                                                         
Nov.                                                                                         
Dec«                                                                                         
2947                                                                                         
Jan.                                                                                         
Feb.                                    ------ 5                     ---------               
March                                                                                        
April                                                                                        
May                                                                                          
June                                                                                         
July                                                                                         
Aug.                                                                                         
Sept.                                                                                        
Oct,                                                                                         
Nov.                                                                                         
Dec.                                                                                         

* Does not Include production workers who were on strike: not comparable with other figures«

SOURCE: United States Department of Labor, Bureau of Labor Statistics

94

INDUSTRY GROUP: EIECTRICAL MACHINERY

NOTE: See p. 82  Employment, Pay Rolls, Hours, and Earnings                                
Year  Production  Woiters Production Worker     Average   Average Average Hourly Earnings  
and   Estimated     Index Weekly Pay Rolls ■    Weekly    Weekly  Gross     Straight-     
Month Number      (1939 s   : Amount Index      Earnings  Hours   (Dollars) Time          
      (000)          100)     (»000) (1939-100) (Dollars)                   (Dollars)     
1939  259        100.0    $ 6,527    100.0      $ 27.09   38.6    $ .702    ».689         
Aug*  258            99*5 6,1*91*       99.5    27.25     39.1    .697      .682          
Mo    305        117.8    8,31*8     127.9      29.38     1*0.1*  .728      .705          
191*1 1*1*6      172.0    11*,660    2211.6     35.01*    1*3.7   <802      .756          
Jan.  361        139.3    10,652     163.2      31.81*    1*2.1*  .751      .716          
Dec.  1*98       192.3    17,695     271.1      37.91     1*1*.6  .850      .796          
191*2 560        216.0    22,120     338.9      1*1.91*   1*6.2   .907      .839          
May   525        202.1*   20,306     3U.1       1*1.21    1*6.2   .892      .825          
Sept. 593        228.9    21*,300     . 372.3   1*3.65    1*6.0   .91*9     .879          
Oct.  619        238.9    25,306     387.7      1*3.73    1*6.7   .936      .863          
191*3 71*1       285.9    31,852     1*88.0     1*5.53    1*6.9   .971      .891*         
      730        281.6    31,278     1*79.2     1*5.61*   1*7.3   .965      .886          
190*  765        295.2    31*,587    529.9      1*7.76    1*6.1*  1.029     .951          
391*5 622        ’ 21*0.1 27,851     1*26.7     1*6.1*5   l*l*.l  1.053     .990          
Jan.  729        281.2    311,1*21*  527.1*     1*9.61*    1*6.5  1.069     .987          
Feb.  728        281.0    31*,1*83   528.3      1*9.85    1*6.7   1.067     .981*         
March 726        280.2    311,502    528.6      1*9.89    1*6.6   1.070     .988          
April 715        276.0    33,797     517.8      1*9.59    1*6.1*  1.068     .987          
May   701*       271.6    32,668     500.5      1*8.73    1*5.6   1.068     .992          
June  691        266.6    31,983     1*90.0     1*8.53    1*5.7   1.061     .986          
July  659        251*. 1  30,061*    1*60.6     1*7.91    1*5.3   1.057     .981*         
Aug.  61*0       21*6.8   26,056     399.2      1*2.75    1*1.2   1.038     1.000         
Sept. 1*1*5      171.5    17,525     268.5      1*1.37    1*0.8   1.011*    .981          
Oct.  1*67       180.1    18,870     289.1      1*2.39     1*1.1  1.031     ..991*        
Nov.  1*79       181*.9   19,705     301.9      1*2.98    1*1.3   1.039     1.000         
Dec.  1*81*      186.9    20,136     308.5      1*3.58     1*1.5  1.050     • 1.009       
191*6                     '   19,75F 302“.F     1*1.1*?   1*1.3“            1.013"        
Jan.                                                       1*0.3                          
Feb.                                                                                      
March Jo.        158,2                                    1*0.1*'                         
April                                                                                     
May                                                                                       
June                                                                                      
July                                                                                      
Aug.                                                                                      
Sept.                                                                                     
Oct.                                                                                      
Nov.                                                                                      
Dec.                                                                                      
291*7 ---                              ------   ---               ---                     
Jan.                                                                                      
Feb.                                                                                      
March                                                                                     
April                                                                                     
May                                                                                       
June                                                                                      
July                                                                                      
Aug.                                                                                      
Sept.                                                                                     
Oct.                                                                                      
Nov.                                                                                      
Dec.                                                                                      

SOURCE: United States Department of Labor, Bureau of Labor Statistics

95

INDUSTRI GROUP» MACHINERY, EXCEPT EIECTRICAL


_             Employment, Pay Rolls. Hours, and Earnings

NOTE: See p. 82

        Production Workers  Production Worker  Average           Average Hourly Earnings  
Year    Estimated Index     Weekly  Pay Rolls  Weekly    Average           Straight-     
and     Number    (1939 =   Amount  index      Earnings  Weekly  Gross     Time          
Mor h   (ooo)     100)      (1000)  (1939-100) (Dollars) Hours   (Dollars) (Dollars)     
1939    529       100.0     ♦14,541   100.0    ♦ 29.27   39.3    ♦ .746        ♦ .730    
■ Aug«  519         98.2    14,367     98.8    29.23     39.4    .742      .726          
|w      630       119.2     18,991  130.6      31.87     41.9    .761      .728          
19U     869       164.5     31,961  219.8      38.34     45.9    .834      .773          
■ Jan.  729       138.1     23,746    163.3    34.36     44.0    .781      .735          
■ Dec.  961       181.9     38,694  266.1      42.23     47.4    .891      .817          
■19U2   1,096     207.4     49,600    341.1    47.28     49.2    .961      .870          
■ May   1,064     201.4     47,666  327.8      46.98     49.5    .949      .857          
1 Sept. 1,138     215.4     51,824    356.4    47.71     48.0    .994      .908          
I Oct.  1,165     220.4     54,791  376.8      49.34     49.5    .997 ,    •900          
|w      1,293     244.7     64,519    443.7    52.37     49.3    1.063     .961          
|May    1,295     245.0     64,926  446.5'     52.48     49.7    1.056     .953          
1914    1,246     235.9     64,417  443.0      54.63     48.7    1.123     1.021         
1916    1,080     204.3     53,628  368.8      52.24     45.8    1.140     1.058         
I Jan.  1,214     229.8     64,054  440.5      55.92     48.7    1.149     1.044         
I Feb.  1,218     230.6     64,548  443.9      56.13     48.8    1.151     1.046         
1 March 1,206     228.3     63,792  438.7      56.07     48.6    1.153     1.049         
April   1,104     224.0     62,003  426.4      55.46     48.1    1.152     1.052         
1 May   1,162     219.9     58,848  404.7      53.68     46.6    1.152     1.063         
I June  1,143     216.3     59,182  407.0      54.91     47.7    1.150     1.053         
\ July  1,105     209.2     55,896  384.4      53.58     46.7    1.148     1.058         
I Aug.  1,076     203.7     49,207  338.4      48.41     42.7    1.134     1.078         
I Sept. 913       172.7     41,544  285.7      48.12     43.0    1.119     1.061         
I Oct.  909       172.1     41,311  284.1      48.12     43.0    1.118     1.060         
1 Nov.  911       172.4     41,195  283.3      47.90     42.6    1.124     1.070         
I Dec.  914       172.9     41,980  288.7      48.63     42.9    1.134     1.076         
W                                                                                        
1 Jan.  956       180.9             297.5      47.84     42.0    1*13?     1.090         
1 Feb.  833       wir                            47.49   41.4    1.147           xw      
I March                     40,4id  277.9      48.66     41.6    " 1.169                 
I April           176.4                                                                  
1 May                                                                                    
1 June                                                                                   
July              X                                                                      
1 Aug.                                                                                   
1 Sept.                                                                                  
1 Oct.                                                                                   
I Nov.                                                                                   
1 Dec.                                                                                   
W                                                                                        
I ¿an.                                                                                   
1 Feb.                                                                                   
1 March                                                                                  
1 April                                                                                  
1 May                                                                                    
1 June                                                                                   
1 July                                                                                   
1 Aug.                                                                                   
1 Sept,                                                                                  
1 Oct.                                                                                   
Nov.                                                                                     
I Dec.                                                                                   

SOURCE: United States Department of labor. Bureau of labor Statistics

                                                  96                                                 
                  INDUSTRY  GROUP: TRANSPORTATION      EQUIPMENT, EXCEPT AUTOMOBIIES                
NOTE:   See p. 82           Employment,   Pay Rolls,   Hours, and Earnings                          
        Production Workers  Production Worker          Average              Average Hourly Earnings  
Year    Estimated Index     Weekly Pay Rolls               Weekly Average             straight-     
and     Number    (1939 =   : Amount      Index          Earnings Weekly    Gross     Time          
Month     (000)   100)      ' ($000)      (1939=100)   (.Dollars) Hours     (Dollars) (Dollars)     
1939    159       100.0     ♦I*,651       100.0        $ 30.51    38.9      $ .785 .  $ .769        
Aug.    160       100.8     1*,681*       100.7        30 .b6     39.2      .777      .761          
19b0    275       173.3     8,781         188.8        32.59      bl.0      .795           .767     
Ml      598       376.6     21*,1*65      526.0        b0.30      bb.b      .907      .851          
Jan.    b02       253.3     11*, 205      3O5.b        35.69      1*3.1     .828      .78b          
Dec.    865       51*5.1    1*0,317       866.8        b6.38      b6.1      1.006     .932          
M2      1,539     969.5     81,21*7       171*6.8      52.08      b7.6      1.09b     1.002         
May     1,36b     859.3     69,89b        1502.7       51.02      b8.0      I.O63     .971          
Sept.   1,819     111*5.6   99,220        2133.2       5b. 22     b6.7      1.161     1.070         
Oct.    1,921     1209.6    103,02b       2215.0       53.3b      b7.1      1.132     1.01*0        
M3      2,508     1580.1    lb3,271       3O8O.3       56.1b      b7.1      1.199     1.102         
May     2,b75     1559.0    lb0,76b       3O26.b       56.29      b7.5      1.185     1.087         
19bb    2,393     1508.0    lb5,76b       3133.9       60.28      b7.3      1.27b     1.170         
19b5    l,b5b     916.1*    86,787        1865.9       56.10      b3.7      1.283     1.210         
Jan.    2,173     1369.2    138,b90       2977.5       62.61      b8.0      1.30b     I.39I         
Feb.    2,13b     13bb.6    13b,025       2881.5       61.56      b7.2      1.30b     I.I98         
March   2,061     1298.1*   128,71*1 '    2767.9       61.13      b7.1      1.299     1.M           
April   1,96b     1237.5    121,6b8       2615.b       60.58      b6.8      1.295     1.193         
Nay     1,830     1153.0    111,1*2*3     2396.0       59.56      1*5.9     1.297     1.202         
June    1,681     1059.1    103,b20       2223.5       60.03      b6.2      1.300     1.202         
July    1,577     993.9     96,187        2068.0       59.63      1*5.8     1.301     1.207         
Aug.    1,1*68    925.2     81,033        17b2.2       5b.O7      bl.7      1.297     1.2bb         
Sept.   788       1*96.5    39,261        81*b.l       b8.98      38.8      1.26b     1.2b0         
Oct.    667       1*20.1*   33,186        713.5        1*8.92     39.1      I.250     1.22b         
Nov.    573       361.3     27,U*O        583.5        b6.56      37.1*     1.2bb     1.227         
Dec.    536       338.0     26,8b7        577.2        b9.18      39.7      1.239     1.209         
M6                                                                                                  
Jan.    519                               559.1                   “W>       ■ 11331   1.M“          
Feb.    b¿2       290.8     23,768        b93.6                   Lq.o                1.310         
March                                     511.0                                                     
April                                                                                               
May                                                                                                 
June                                                                                                
July                                                                                                
Aug.                                                                                                
Sept.                                                                                               
Oct,                                                                                                
Nov.                                                                                                
Dec.                                                                                                
M7                                                                                                  
Jan.                                                                                                
Feb.                                                                                                
March                                                                                               
April                                                                                               
May                                                                                                 
June                                                                                                
July                                                                                                
Aug.                                                                                                
Sept.                                                                                               
Oct.                                                                                                
Nov.                                                                                                
Dec.                                                                                                
SOURCE:  United   States Department of labor, Bureau   of Labor Statistics                          

97

INDUSTRY: SHIPBUILDING AND BOAT BUI ID BIG

' NOTE: See p. 82          Employment, Pay Rolls, Hours, and Earnings                          
        Production Yorkers Product!    on Worker  Average              Average Hourly Earnings  
Year    Estimated  Index   Weekly Bay Rolls       Weekly    Average              Straight-     
and     Number     (1239 = : Amount    index      Earnings  Weekly     Grogs     Time          
Month ■ (ÖOO)      100)    ($000)      (1939=100) (Dollars) Hours      (Dollars) (Dollars)     
1939    69.2       100.0   $2,065      100.0      $ 31.91   38.0       $ .835    $ .822        
Aug.    68.7       99.3    2,036          98.6    31.69     38.1       .829      .816          
W       97.9       141.3   3,198       154.9      34.81     39.8       .870      .848          
Ml      224.1      323.7   9,758       472.6      44.59     44.4       1.002     .940          
Jan.    137.8      199.0   4,995       241.9      37.69     42.0       .893      .855          
Dec.    353.2      510.0   17,265      836.2      49.19     46.0       1.060     .982          
1942    738.8      1066.9  4i,4o4      2005.3     55.99     48.0       1.165     1.064         
May     643.8      929 .8  34,318      1662.1     53.27     48.6       1.091     .993          
Sept.   911.3      1316.0  53,419      2587.2     58.60     47.0       1.247     1.14.7        
Oct.    950.4      1372.5  54,617      2645.2     57.54     47.6       1.208     1.107         
1943    1225.2     1769.4  74,221      3594.7     60.84     47.5       1.280         1.174     
May     1215.3     1755.1  72,704      3521.2     6o.o4     47.8       1.255     1.148         
1944 .  1137.0     1642.1  72,559      3514.2     63.84     47.5       1.344     1.232         
1945    665.8      961.5   41,642      2016.8     61.72     45.1       1.370     1.277         
Jan.      1020.8   1474.2  68,413      3313.4     66.12     48.1       1.367     1.248         
Feb.      v973.0   1405.2  64,164      3107.6     65.12     47.1       1.382     1.270         
March   917.1      1324.5  60,014      2906.6     64.56     46.9       1.376     1.267         
April   853.9      1233.2  55,979      2711.2     64.68     47.0       1.378     1.268         
May     783.6      1131.6  50,248      2433.6     63.26     45.8       1.382     1.282         
June    738.7      1066.8  48,061      2327.7     64.15     46.3       1.385     1.281         
j July  691.0      997.9   45,288      2193.4     64.62     46.6 .     1.388     1.281         
Aug.    647.2      934.7   39,641      1919.9     60.46     43.6       1.386     1.308         
Sept.   445.4      643.3   23,040      1115.9     51.06     38.7       1.319     1.294         
- Oct.  368.2      531.8   18,446      893.4      49.50     38.2       1.297     1.275         
: Nov.  286.0      413.0   13,171      637.9      45.56     35.0       1.301     1.301         
Dec.    264.7      382.3   13,239      641.2      49.44     38.3       1.292     1.270         
1946                                                                                           
Jan.    “awj.      345.6   12,440      60g. £     49.44     38.8       1.573         1.549     
i Feb.  "'TO       ' 324.7 TO                     47.61     37.3       1.278     1.260         
j March 22O.U      318.3   IT,428      ' 553.5'   51.46     “30"                 "T.30Ö        
April                                                                                          
[May                                                                                           
I June                                                                                         
July                                                                                           
1 Aug.                                                                                         
Sept.                                                                                          
Qct.                                                                                           
Nov.                                                                                           
i Dec.                                                                                         
194?                                                                                           
Jan.                                                                                           
Feb.                                                                                           
March                                                                                          
APril                                                                                          
May                                                                                            
I June                                                                                         
                                                                                               
I July                                                                                        •
Aug.                                                                                           
                                                                                               
I ^pt.                                                                                         
I Nov.                                                                                         
Dec.                                                                                           
                                                                                 ---------     

SOURCE: United States Department of labor. Bureau of labor Statistics «•^.^4». _₇ •

98

INDUSTRI GROUP: AUTOMOBIIES

NOTE: See p. 82           Employment, Pay Rolls, Hours, and Earnings                       
      Production Workers  Production Worker      Average             Average Hourly Earnin  
Year  Estimated Index     Weekly Pay Rolls       Weekly     Average            Straighl    
and   Number    (1939 =   : Amount    Index        Earnings Weekly   Gross     Time        
Month (000)     100)      ($000)      (1939=100) (Dollars)  Hours    (Dollars) (Dollar     
1939  402       100.0     $ 12,538    100.0      $ 32.91    35.4     $.929            $.929
Aug.  292       72.5      9,730 ,        77.6    35.25      37.7     .935              .921
1940  465       115.5     15,848      126.4      35.76      37.7     .948              .934
1941  570.      141.7     22,569      180.0      41.25      39.6     1.042     1.018       
Jan.  559       138.8     20,099 ,    160.3 '    37.69      38.9     .969              .950
Dec.  544       135.2     22,268      177.6      42.41      37.4     1.134     1.118       
1942  510       126.9     25,879      206.4      51.94      44.4     1.269     1.097       
May   461       114.6     23,020      183.6      51.52      44.3     1.163     1.092       
Sept. 558       138.8     28,362      226.2      52.26      44.1     1.285     1.114       
Oct.  576       143.2     29,665      236.6      52.97      45.2     1.172     1.092       
1943  714       177.5     40,273      321.2      56.94      46.2     1.234     1.141       
May   680       168.9     38,354      305.9      57.00      46.3     1.231     1.239       
1944  732       182.0     42,041      335.3      57.82      45.5     1.270     1.281       
1945  590       146.6     31,045      247.6      51.99      41.3     '1.256    I.208       
Jan.  712       176.9     41,815      333.5      59.42      45.2     1.314     1.225       
Feb.  7U        176.8     41,853      333.8      59.49      46.5     1.279     1.281       
March 700       173.9     40,812      325.5      58.99      46.1     1.280     1.185       
April 691       171.6     39,809      317.5      58.28      45.5     I.28O     I.I90       
May   665       165.3     36,637      292.2      55.74      43.9     1.269     1.194       
June  642       159.4     35,308      281.6      55.55      43.8     1.268     1.194       
July  x 601     149.3     31,734      253.1      53.29      42.3     1.260     1.202       
Aug.  556       138.3     23,008       . 183.5   41.70      33.5     1.245     1.245       
Sept. 426       105.9     18,958      151.2      44.65      36.5     1.224     1.209       
Oct.  460       114.4     21,541      171.8      46.86      38.4     1.219     1.297       
Nov.  525       130.5     24,098      192.2      45.99      37.8     1.217     I.I98       
Dec.  388       96.4      16,989      135.5      43.89      36.0     1.220     I.208       
1946                                                                                       
Jan.  416       103.5                   1153.5   46.19'     37.5     ■'1.230   1.21T       
Feb.            U|2.$     19,835                        406 34.1     1.250-                
March                                               ' 46.09 3M                             
April                                                                                      
May                                                                                        
June                                                                                       
July                                                                                       
Aug.                                                                                       
Sept.                                                                                      
Oct.                                                                                       
Nov.                                                                                       
Dec.                                                                                       
1947                                                                                       
Jan.                                                                                       
Feb.                                                                                       
March                                                                                      
April                                                                                      
May                                                                                        
June                                                                                       
July                                                                                       
Aug.                                                                                       
Sept.                                                                                      
Oct.                                                                                       
Nov.                                                                                       
Dec.                                                                                       

SOURCE: United States Department of Labor, Bureau of Labor Statistics

99

INDUSTRY GROUP: NONFERROUS METAIS AND THEIR PRODUCTS

1_N0TEi_See_p_._82__  Employment,              Pay Rolls, Hours, and Earnings                         
        Production Workers    Production Worker           Average            Average Hourly Earnings  
I Year  Estimated     Index   Weekly Pay Rolls            Weekly     Average           Straight-     
I and   Number        (1939 - Amount           Index        Earnings Weekly  Gross     Time          
1 Month (OOO)         100) .  ($000)           (1939-100)  (Dollars) Hours   (Dollars) (Dollars)     
1939    229           100.0       $ 5,767      100.0      $ 26.71*   38.9    $ .687    ♦ .673        
I Aug.  222           96.7    5,531               95.9    26.1*8     39.0    .679      .665          
w       26?           116.5   7,255            125.8      28.39      39.9    .711      .693          
1 ^^    31*5          150.3   10,929           189.5      33.07      1*2.1*  .779      .71*2         
I Jan.  311*          136.8   9,U2             158.0      30.1*7     1*1.1*  .736      .707          
I Dec.  362           158.0   12,521           217.1      36.20      1*3.1*  .831*     .788          
191*2   389           169.5   15,361*          266.1*     1*0.78     1*1*3   .913      .855          
I May   377           161*.3  H*,395           21*9.6     39.1*7     1*1*.2  .893      .839          
Sept.   1*01          17U.7   16,1*11*         281*.6     1*2.16     l*l*.l  .956      .899          
I Oct.  1*05          176.6   17,025           295.2      1*3.’*3    1*5.1*  .956      .889          
191*3   14*9          196.0   20,1*1*5         35U.5      1*7.20     1*6.6   1.013     .935          
May     1*37          190.7   20,065           31*7.9     1*7.76     1*7.1   1.011*    .932          
191*1*  1*36          190.0   20,636           357.8      1*9.16     1*6.8   1.050     ♦967          
191*5   377           161*.6  17,651*          306.1      1*8.28     1*5.2   1.068     .995          
I Jan.  1*15          131.1   20,319           352.3      50.92      1*7.2   1.079     .992          
Feb.    1*21          183.8   20,659           358.2      50.76      1*7.1   1.078     .991          
March   1*26          185.6   20,993           361*.O     51.18      1*7.3   1.081     .992          
April   1*23          181*.6  20,763           360.0      50.96      1*7.1   1.082     ♦991*         
May     1*20          183.1*  20,030           31*7.3     1*9.52     1*6.0   1.077     .997          
June    1*09          178.1*  19,1*88          337.9      1*9.55     1*6.2   1.072     .992          
July    381*          167.6   18,058           313.1      1*8.81     1*5.7   1.068     .992          
Aug.    378           165.1   16,852           292.2      1*6.15     1*3.3   1.067     1.008         
I Sept. 301           131.2   12,879           223.3      1*1*.,41   1*2.5   1.01*1*   .991*         
I Oct.  305           . 133.0 13,288           230.1*     1*5.30     1*3.2   1.01*8    .991          
Nov.    319           139.3   Hi,01*1*         21*3.5     1*5.71     1*3.2   1.058     1.001         
I Dec.  326           11*2.2  lli,l*l*2        250.1*     1*6.08     1*3.3   1.063     1.005         
w                                                                                                    
Jan.                  11*5.3  U*,77O           256.1      1*6.13     1*3.3   1.066     1.007         
1 Feb.  291           "®.S                     ¿28.7      1*7.15             1.091 "                 
March                 138 J*  H*,1*65          ' 250.8 '  1*7.51'    1*2.1*  1.116 '   ~1.0Ó1*       
I April                                                                                              
May                                                                                                  
I June                                                                                               
1 July                                                                                               
1 Aug.                                                                                               
1 Sept.                                                                                              
1 Oct.                                                                                               
1 Nov.                                                                                               
Dec.                  1                                                                              
1 191*7                                                                                              
1 Jan.                                                                                               
1 Feb.                                                                                               
March                 1 •                                                                            
April                                                                                                
W                                                                                                    
1 June                                                                                               
July                                                                                                 
1 Aug.                                                                                               
i Sept.                                                                                              
1 Oct.                                                                                               
I Nov.                                                                                               
I Dec.  ------                . .......... ---               ------~ ------  --------- ---------     

SOURCE: United States Department of labor. Bureau of Labor Statistics

100

                INDUSTRY: ALUMINUM MANUFACTURES                                           
NOTE: See p. 82      Employment,  Pay Rolls, Hours, and Earnings                          
      Production Workers  Production Worker  Average             Average Hourly Earnings  
Year  Estimated Index     Weekly Pay Rolls   Weekly    Average             Straight-     
and   Number    (1939 :   Amount  index      Earnings  Weekly    Gross     Time          
Month (000)     100)      ($000)  (1939=K>0) (Dollars) Hours     (Dollars) (Dollars)     
1939  23.5      100.0     $ 61:1  100.0      $ 27.119  39.3      $ .699    $ .6811       
Aug.  23.11     99.5      6311       98.9    26.83     38.3      .700      .688          
W     33.9      11111.0   1,019   159.1      29.97     110.6     .736      .712          
Ml    113.8     186.2     1,502   2311.5     35.911    112.1     .836      .799          
Jan.  110.8     173.11    1,305   203.7      32.85     112.0     .782      .7118         
Dec.  119.5     210.lt    1,930   301.2      39.68     1111.8    .887      .828          
19112 6U.U      273.5     2,738   li27.li    113.31    115.1     .959      .8911         
May   62.1      263.7     2,559   399.li     111.93    141.9     .933      .870          
Sept. -69.6     295.7     3,056   1177.0     1111.75   141.5     1.007     .914:         
Oct.  70.3      298.5     3,188   1197.6 .   116.23    115.7     1.011     .939          
M3    79.U      337.1:    3,790   591.6      118.56    116.9     1.036     .95U          
May   73.0      309.9     3,551i  5511.8     119.67    117.7     1.0111    .9511         
19141 73.5      312.li    3,588   560.1      119.118   116.5     1.063     .981          
M3    57.0      2112.2    2,691   1120.0     117.86    141.9     1.065     .9911         
Jan.  66.8      283.9     3,393   529.6      51.37     117.U     1.083     .993          
Feb.  68.8      292.3     3,11711 5112.2     51.15     117.3     1.080     .991          
March 70.5      299.2     3,562   556.0      51.20     117.11    1.080     .990          
April 70.6      300.0     3,5119  5511.0     50.99     117.1     1.083     .995          
May   69.8      296.3     3,351i  523.5      118.69    115.11    1.073     .998          
June  66.8      283.5     3,187   li97.li    118.58    115.6     1.065     .989          
July  61.2      260.0     2,882   U9.9       1:7.92    115.0     I.O6I1    .993          
Aug.  59.0      250.11    2,639   1111.9     115.117   112.8     1.062     1.009         
Sept. 35.9      152.5     1,1109  219.9      39.86     39.0      1.020     1.000         
Oct.  36.0      152.9     1,506   235.0      112.62    111.9     1.018     .9711         
Nov.  38.li     162.9     1,627   253.9      113.23    111.7     1.038     .995          
Dec.  1:0.7     172.6     1,709   266.7      112.88    111.3     1.037     .998          
M6                                                                                       
Jan.  144       '178.5                                 41.Ó      1.051                   
Feb.                      1,107   172.8                U2.Ò      i.o?h     1.047         
March Jea.      I7I.I     1.861   290.5                110.8     I.H10     1.102         
April                                                                                    
May                                                                                      
June                                                                                     
July                                                                                     
Aug.                                                                                     
Sept.                                                                                    
Oct.                                                                                     
Nov.                                                                                     
Dec.                                                                                     
19U7                                                                                     
Jan.                                                                                     
Feb.                                                                                     
March                                                                                    
April                                                                                    
May                                                                                      
June                                                                                     
July                                                                                     
Aug.                                                                                     
Sept.                                                                                    
Oct.                                                                                     
Nov.                                                                                     
Dec.                              ---------  --------- --------- ---                     

SOURCE: United States Department of labor, Bureau of labor Statistics

131

INDUSTRI GROUP: LUMBER AND TIMBER BASIC PRODUCTS

NOTE: See p. 82           Employment, Pay Rolls, Hours, and Earnings                        
      Production Workers  Production Worker      Average           Average Hourly Earnings  
Year  Estimated Index       Weekly Pay Rolls     Weekly    Average                Straight-
and   Number       (1939 ■ Amount     Index      Earnings  Weekly  Gross     Time          
Month (000)     100)      ($000)      (1939-100) (Dollars) Hours   (Dollars) (Dollars)     
1939  U20       100*0       $ 6,959   100*0      $ 19.06   39.0    $ .489    $ .479        
Aug.  109       M.5       7,467       107.3      19.57     39.7    .493      .481          
1940  442       105.3     7,634       109*7      19.69     38.6    .511      *501          
19U1  535       127.3     20,466      150.4      22.22     39.7    .559      .546          
Jan*  466       110.8     8,260       118.7      20.27     38.9    .521      .511          
Dec*  557       132.6     < 11,065    159.0      22.64     38.7    .585      .574          
M2    560       133.3     12,992      286.7      26*47     40.8    .648      .627          
May   561       133.1»    12,602      281.1      25.79     40.8    .632      *611          
Sept* 573       136.3     14,036      201.7      27.96     41.0    *682      .658          
Oct*  560       133.3     . 14,460    207.8      29.52     42.5    *694      .661          
1910  535       127.3     14,968      215.1      31*73     43.1    *736      .697          
May   538       128.0     15,330      220.3      32*28     43.8    .737      .694          
Mil   516       122.8     15,630      224.6      34.19     43.2    .791      .748          
M5    509       121.1     15,191      218*3      33.80     42.0    .804      .769          
Jan*  512       121*7     15,261      219*3      33.72     42.6    .791      .753          
Feb.  516       122.7     15,664      225.1      34.40     43.3    .794      .750          
March 517       123.0     15,741      226*2      34*38     43.1    .798      .756          
April 510       121.3     15,887      228*3      35.20     43.6    .807      .762          
May   519       123.1»    16,040      230.5      34.97     42.9    .814      .772          
June  523       124.5     16,680      239.7      36.20     44.0    *822      .774          
July  522       124.2     15,456      222.1      33.52     41.4    *810      *778          
Aug.  521»      124.7     15,261      219.3      32.91     4o.5    *813      .788          
Sept. 508       120*8     14,982      225.3      33.41     40.8    .819      .792          
Oct*  1:76      113.3     13,848      199.0      33.08     42.2    .784 '    .749          
Nov.  484       115.0     23,556      294.8      31.98     40.5    *789      .765          
Dec*  1:99      118.6     13,876      199.4      31.78     39.0    .814      .798          
w                                                                                          
Jan*  Ì         122a      . ^54        ' ¿07.7   "32.15    "38.8             "*814         
Feb*            w                                mhmmmm.     3ÉC             " '*813       
March           127.0                                                                      
April                                                                                      
May                                                                                        
June                                                                                       
July-                                                                                      
Aug*                                                                                       
Sept*                                                                                      
                                                                                           
Dec.                                                                                       
1947                                                                                       
Jan.  MM.                                        ---------                                 
Feb*                                                                                       
March                                                                                      
April                                                                                      
May                                                                                        
June                                                                                       
July                                                                                       
Aug*                                                                                       
Sept*                                                                                      
Oct*                                                                                       
Nov*                                                                                       
      «MM**                                                                                

SOURCE: United States Department of Labor, Bureau of Labor Statistics

1Û2

INDUSTRY GROUP: FURNITURE AND FINISHED UMBER PRODUCTS

NOTE: See 82               Employment, Pay Rolls, Hours, and Earnings

      Production Workers    rroauctionWorker^                     Average Hourly^arnSgs  
      Estimated   Index     Weekly Pay Rolls    Average                     Straight-   
Year  Number      (1939 =                       Weekly    Average           Time        
and   (000)       100)      Amount   Index      Earnings  Weekly  Gross     (Dollars)   
Month                       («000)   (1939=100) (Dollars) Hours   (Dollars)             
1939  328         100.0     $ 5,901*   100.0    1 19.95   38.5    « .518    i .509      
Aug.  331         100.9     6,010      101.8    20.21*    39.0    .519      .509        
19110 31*3        101*.7    6,1*18     108.7    20.67     38.6    .536      .526        
191*1 391         119.2     8,511*    lltl*.2   23.78     1*0.8   .582      .563        
Jan.  357         108.8     6,778       m*.8    20.90     38.7    .51*0     .530        
Dec.  1*06        123.7     9,577      162.2    25.65     1*1.3   .621      .597        
19h2  380         115.9     9,577    162.2      27.36     1*1.6   .657      .631        
May   383         116.9     9,582      162.3    27.06     1*1.5   .652      .627        
Sept. 370         112.9     9,1*11     159.1*   27.68     1*1.0   .675      .651        
Oct.  373         113.7     10,061     170.1*   29.33     1*2.8   .685      .651        
191*3 366         111.7     10,858     183.9    32.75     l*l*.l  .71*3     .698        
May   363         110.6     10,71*6    182.0    32.71*    1*1*.6  .731*     .687        
1911  352         107.3     11,1*36  193.7      36.05     1*1*.2  .815      .766        
19115 333         101.7     11,01*7  ' 187.1    36.68     1*3.3   .81*7     •800        
Jan.  31*8        .106.2    11,773     199.1*   37.1*8    l*l*.l* .81*5     .793        
Feb.  351         107.0     11,971*    202.8    37.95     1*1*.8  .81*7     .791        
March 31*8        106.2     11,885     201.3    37.90     1*1*.6  .850      .796        
April 31*2        1OU.3     11,681*    197.9    37.92     1*1*.3  .855      ♦803        
May   3110        103.7     11,1*66  191*. 2    37.51     1*3.6   .859      .811 .      
June  31*1        103.9     11,566     195.9    37.51*    1*1*. 1 .852      .801        
July  33h         101.7     11,112     188.2    36.89     1*3.3   .852      .805        
Aug.  330         100.5     10,126   171.5      33.89     1*0.6   .835      .808        
Sept. 303         92.1*     9,683      161*.0   35.21     1*2.3   .833      .795        
Oct.  307         93.7      9,966      168.8    35.89     1*2.7   .81*1     .800        
Nov.  321         97.7      10,226   173.2       35.1*1*  1*2.0   .81*1*    .808        
Dec.  336         102.6     11,106   188.1      36.50     1*2.5   .859      .818        
191*6                                                                                   
Jan.              106.0              ‘ ' 192.9  TO        1*1.8   “.W       •w          
Feb.              W.l       issi                          1*2.2   .873                  
March             111.2                                   la.*                          
April                                                                                   
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                    ---               ---               ---------   
Sept.                                                                                   
                                                                                        
Dec.                                                                                    
191*7                                                                                   
Jan.                                                                                    
Feb.  ■!■■ ■■---■                                                                       
March                                                                                   
April ------      --------- ---                                                         
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec.                                                                                    

SOURCE: United States Department of Labor, Bureau of Labor Statistics

103

INDUSTRY GROUP: STONE, GUY, AND GLASS PRODUCTS
Employment, Pay Rolls, Hours, and Earnings

NOTE: See p. 62

      production Workers  Production Worker  Average           Average Hourly Earnings  
Year  Estimated   Index   Weekly  Pay Rolls  Weekly    Average           Straight-     
and   Number      (1939 = Amount  index      Earnings  Weekly  Gross     Time          
Month (000)       100)    ($000)  (1939-100) (Dollars) Hours   (Dollars) (Dollars)     
1939  291*        100.0   ♦ 6,h7O   100.0    ♦ 23.91:  37.6    $ .637    $ .627        
Aug.  299         102.0   6,651   102.8      2ÍI.13    38.6    .633      .621          
MO    309         io5.li  7,027   108.6      2h.l:5    37.1:   .651*         .61:5     
Ml    371         126.ii  9,531     11:7.3   27.14:    39.0    »701*     .690          
Jan.  326         111.1   7,622   117.8      25.02     37.1:   .669      .660          
Dec.  389         132.6   410,637 161*.!*    29.14     39.7    .71*2     .721*         
M2    371         126.3   10,814: 167.6      31.29     1:0.2   .777          .751*     
May   373         127.2   10,850    167.7    30.86     1:0.5   .762      .738          
Sept. 368         125.3   10,863  167.9      31.1:0    39.3    .799      .781          
Oct.  367         125.2   11,569  178.8      33.52     1*1.3   .812      .781          
M3    360         122.5   12,235  189.1      36.25     1:2.7   .81*9     .807          
May   359         122.U   12,229  189.0      36.16     1:2.9   .81:3'    .800          
MU    332         112.9   12,145  • 187.7    39.07     1:3.6   .897      .81*7         
M5    318         1O8.U   11,925  18U.3      10.00     16.1    .929      .880          
Jan.  323         109.9   12,01:1 186.1      39.93     1*3.6   .917      •866          
Feb.  322         109.6   12,086  186.8      110.10    1:3.8   .916      .863?.        
March 322         109.8   12,326  190.5      1:0.77     14i.2  .923      .868          
April 318         108.2   12,339  190.7      1*1.36     14:.5  .929      .870          
May   316         107.7   12,002  185.5      10.1*6     1*3.6  .928      .876          
June  322         109.6   12,280  189.8      10.69      16.8   .929           .875     
July  317         108.1   12,009  185.6      1:0.38    1*3.1:  .931      .880          
Aug.  317         108.1   11,633  179.8      39.08      1:1.6  .939      .901          
Sept. 310         105.7   11,368  175.7      39.12      1:1.8  .937      .898          
Oct.  319         108.8   11,853  183.2      39.61      1*2.5  .932      .887          
Nov.  313         106.5   11,381  175.9      38.95      1*2,0  .928      .888          
Deo.  320         109.1   11,756  181.7      39.33      1*1.9  .939           .899     
M6                ICT     11,#'6  203.9                1*1.0             .912          
Jan.              126.7 ' JOI                                                          
Feb.                                                                                   
March                                                                                  
April                                                                                  
May                                                                                    
June                                                                                   
July                                                                                   
Aug.                                                                                   
Sept.                                                                                  
Oct-                                                                                   
      •------*                                                                         
Dec.  ------•                                                                          
      ■ ■■ ■---■■                                                                      
M7                ---                        ---------   ---   ---------               
Jan.                                                                                   
Feb.                                                                                   
March                                                                                  
April                                                                                  
May z                                                                                  
June                                                                                   
July                                                                                   
Aug.                                                                                   
Sept.                                                                                  
Oct.                                                                                   
Nov.                                                                                   
Dec.                                                                                   

SOURCE: United States Department of Labor, Bureau of Labor Statistics

ioli

INDUSTRY GROUP: TEXTIIE-MILL PRODUCTS AND OTHER FIBER MANUFACTURES

NOTE: See p. 82     Employment, Pay Rolls,   Hours, and Earnings                         
      Production Workers  Product ion Worker Average            Average Hourly  Earnings
Year  Estimated Index     Weekly  Pay Rolls  Weekly     Average                Straight-
and   Number    (1939 ■   Amount  Index        Earnings Weekly  Gross          Time     
Month (000)     100)      ($000)  (1939=100)  (Dollars) Hours   (Dollars)      (Dollars)
1939  1,144     100.0     $18,456 100.0      $16.84     36.6    $ .460             $.454
Aug.  1,143     99.9      18,345     99.4    16.77      ' 36.7  .457           .452:    
MO    1,124     98.2      18,604  100.8      17.20      35.7    .482           .482     
1941  1,283     112.2     25,137  136.2      20.30      38.6    .526           .516     
Jan.  1,210     305.8     20,985  113.7      18.01      36.9    .488           .482     
Dec.  1,308     114.3     28,238  153.0'     22.49      39.6    .568           .555     
1942  1,285     112.3     30,083  163.0      24.31 '    40.2    .605           .587     
May   1,293     113.1     29,530  160.0      23.74      40.3    .589           .571     
Sept. 1,264     130.5     30,582  165.7      24.98      39.4    .634           .620     
Oct.  1,268     110.8     31,744  172.0      25.84      40.4    .639           .619     
1943  1,237     308.2     33,018  178.9      27.61      41.5    .665           .639     
May   1,239     308.3     33,608  182.1      27.82      41.9    .664           .635     
1944  1,130     98.8      32,243  174.7      29.63 '    41.9    .708           .678     
1945  1,075     94.0      32,150  174.2      31.09      41.1    .757           .730     
Jan.  1,109     97.0      32,870  178.1      30.78      42.3    .729           .695     
Feb.  1,102     96.4      32,760  177.5      30.88      42.3    .731           .697     
March 1,095     95.7      32,760  177.5      31.07      42.4    .733           .699     
April 1,074     93.9      31,931  172.9      30.81      41.9    .735           .703     
May   1,065     93.1      31,062  168.3      30.38      40.7    .745           .721     
June  1,071     93.6      32,723  177.3      31.67      41.8    .759           .727     
July  1,051     91.8      31,855  172.6      31.50      41.3    .763           .734     
Aug.  1,049     91.7      29,917  162.1      29.60      38.4    .770           .756     
Sept. 1,051     91.9      31,320  169.7      31.01      40.6    .763           .739     
Oct.  1,057     92.4      31,615  171.3      31.25      40.4    .773           .749     
Nov.  1,063     92.9      32,261  174.8      31.65      40.3    .786           .762     
Dec.  1,113     97.3      34,697  188.0      32.41      40.7    .795           .770     
1946                                                                                    
Jan.  1427      98.6              w              '32.44 ' 4ö.4  .803           #77^     
Feb.  1,176     105.8     39,238  ¿03.7      33.76      uo.u    .833           .807'    
March           M3.5              ¿15.6                                                 
April                                                                                   
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec.                                                                                    
1947                                                                                    
Jan.                                                                                    
Feb.                                                                                    
March                                                                                   
April                                                                                   
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec.                                                                                    

SOURCE: United States Department of Labor, Bureau of Labor Statistics

105

INDUSTRY GROUP: APPAREL AND OTHER FINISHED TEXTILE PRODUCTS

NOTE: See p. 82  Employment, Pay Rolls, Hours, and Earnings                                       
      Production  Workers  Production Worker         Average             Average hourly Earnings  
Year  Estimated    Index   Weekly Pay Rolls          Weekly    Average             Straight-     
and   Number      (1939 «  * Amount       Index      Earnings  Weekly    Gross     Time          
Month (000)        100)    ($000)         (1939=100) (Dollars) Hours     (Dollars) (Dollars)     
1939  790        100.0        $13,222     100.0      $ 18.17   34.5      $.527     $.527         
Aug.  818        103.6     14,412         109.0      18.78     35.5      .529      .529          
W     796        100.8     13,632         103.1      18.37     33.8      .544      .544          
Ml    907        114.8     17,572         132.9      20.64     35.7      .578      .578          
Jan.  826        104.6        4 14,452    109.3      18.76     33.5      .560      .560          
Dec.  913        115.6     18,207         137.7      21.31     35.4      .602      .602          
1942  939        119.0     20,349         153.9      22.92     36.3      .630      .623          
May   952        120.6     20,335         153.8      22.82     36.8      .620      .612          
Sept. 952        120.6     20,454         154.7      22.51     34.9      .645      .645          
Oct.  958        121.3     22,801         166.4      24.17     37.1      .652      .644          
M3    958        121.4     24,487         185.2      26.97     38.0      .710      .699          
May   969        122.7     24,368         134.3      26.61     38.4      .693      .681          
1^44  934        118.2     26,894         203.4      30.33     38.0      .797      .784          
1945  921        116.7     27,846         210.6      31.67     36.9      .858      .847          
Jan.  934        118.3     28,798         217.8      32.42     38.2      .849      .835          
Feb.  941        119.2     30,080         227.5      33.41     38.8      .862      .846          
March 945        119.7     30,821         233.1      34.06     39.0      .874      .857          
April 932        118.0     29,049 .       219.7      32.65     37.9      .862      .848          
May   917        116.2     27,039         204.5      30.81     36.4      .847      .837          
June  915        115.9     27,449         207.6      31.26     37.2      .839      .827          
July  869        110.0     25,281         191.2      30.38     36.7      .829      .819          
Aug.  897        113.6     23,879         180.6      28.06     33.2      .846      .846          
Sept. 911        115.3     27,555         208.4      31.81     36.2      .878      .868          
Oct.  928        117.5     28,229         213.5      32.12     36.7      .875      .864          
Nov.  930        117.8     27,502         208.0      31.16     36.1      .864      .854          
Dec.  938        118.9     28,427         215.0      31.88     36.4      .875      .864          
M6    -UE-       121.0     ’ "30,146      “¿28.0     ■0.71       36.7    .906           .895     
Jan.  1,016      125.8     ! '34,853      240.2          36.04   "353"   .963           .948     
Feb.             Ä                        263^                                                   
March            128.7                                                                           
April                                                                                            
May                                                                                              
June                                                                                             
July                                                                                             
Aug.                                                                                             
Sept.                                                                                            
Oct.                                                                                             
Nov.                                                                                             
Dec.                                                                                             
1947                                                                                             
Jan.                                                                                             
Feb.                                                                                             
March                                                                                            
April                                                                                            
May                    ---                ---                  ---                               
June                                                                                             
July                                                                                             
Aug.                                                                                             
Sept.                                                                                            
Oct.                                                                                             
Nov.             --------- . ------------ ---------            ---------                         
Dec.                                                                                             

SOURCE: United States Department of Labor, Bureau of Labor Statistics

106

INDUSTRY GROUPS IEATHER AND IEATHER PRODUCTS

NOTE: See p. 82   Employment, Pay Rolls, Hours, and Earnings                             
       Production Workers Production Worker   Average           Average Hourly Earnings  
Year   Estimated    Index Weekly Pay Rolls .  Weekly    Average           Straight-     
and    Number     (1939 = : Amount Index      Earnings  Weekly  Gross     Time          
Month  (000)         100)   ($000) (1939-100) (Dollars) Hours   (Dollars) (Dollars)     
1939   31*7       100.0   $5,993   100.0      $ 19.13   36.2    $.528     $.522         
Aug.   362        101*.2  6.1*37   107.1*     19.83     37.7    .526      .518          
1940   335        96.6    5,771       96.3    19.07     34.7    .549               ,.549
1941   375        108.1   7,809    130.3      22.95     38.3    .600      .590          
Jan.   355        102.1*  6,691*   111.7      20.66     37.3    .554      .546          
Dec.   381        109.9   8,552    11*2.7     21*.92    38.7    .644      .632          
1942   372        107.2   9,002    150.2      26.1*9    38.8    .682      .669          
May    380        109.1*  9,056    151.1      26.06     38.6    .675      .662          
Sept.  351*       102.2   8,666    12*1*.6    25.76     36.7    .702      .694          
Oct.   355        102.1*  8.888    11*8.3     27.58     38.9    •708      .694          
19113  31*0       98.1    9,21*1   154.2      29.83     39.9    .748      .729          
May    31*5        * 99.3 9,367    156.3      29.95     40.1    .747      .726          
1914*  319        91.9    9,553    159.1*     33.07     41.3    .801      .771          
191*5  316        91.1    10,01*1* 167.6      35.05     41.1    .853      .822          
Jan.   319        91*8    9,990    166.7      34.66     41.8    .829      .794          
Feb.   318        91.6    10,101*  168.6      35.23     42.2    .835      .797          
March  317        91.1*   10,326   172.3      36.00     1*2.5   .848      .807          
April  311*       90.1*   10,11*6  169.3      35.73     42.0    .852      .815          
May    312        90.0    9,805    163.6      31*. 69   40.4    .859      .832          
- June 317        91.3    10,371*  173.1      36.12     1*2.1   .857      .819          
July   313        90.1    10,056   167.8      35.1*7    41.7    .851      ,816          
Aug.   313        90.2    9,583    159.9      33.62     39.3    .857      .838          
Sept.  305        88.0    9,601    160.2      31*. 62   40.6    .853      .826          
Oct.   313        90.3    9,889    165.0      34.82     40.9    .852      .823          
Nov.   321        92.5    9,907 '  165.3      33.93     39.6    .857      .837          
Dec.   330        95.2    10,71*0  179.2      35.74     40.6    .881      .853          
191*6                                                                                   
Jan.              97.4    “ 11,099 185.2      3^03      39.9    .904      .880          
Feb.              102.9             ' ¿02.1   36.69     40.4    .907      .879          
March                                         J737_             .'917     .887          
April                                                                                   
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec.                                                                                    
191*7                                                                                   
Jan.                                                                                    
Feb.                                                                                    
March                                                                                   
April                                                                                   
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Dec.                                                                                    

SOURCE: United States Department of Labor, Bureau of labor Statistics

30?

                                    INDUSTRY GROUP: FOOD                                              
NOTE: £ See p. 82                   Employment, Pay Rolls, Hours, and Earnings                        
        Production Workers          Production Worker   Average              Average Hourly Earnings  
Year    Estimated    index          Weekly Pay Rolls    Weekly       Average           Straight-     
and     Number       (1939 a        Amount     index    Earnings     Weekly  Gross     Time          
Month   (000)        100)           (#000)   (1939=100) (Dollars)    Hours   (Dollars) (Dollars)     
1939    855          100.0          #18,231  100.0*     # 21*.1*3    1*0.3   #.607     # .589        
Aug.    996          116.6          20,309   111.1*     23.69        1*0.5   .585      .567          
191*0   861*         101.2          18,760   102.9      21*.58       39.9    .616      .600          
191*1   91*0         110.1          22,005   120.7      26.30        1*0.1*  .651      • .631        
Jan.    810          94.8           4 17,939   98.1*    21*.69       39.0    .633      .620          
Dec.    969          113.1*         21*,156  132.5'     27.96        1*0.7   .68?      .665          
191*2   1,025        120.0          27,365   150.1      30.01*       1*1.5   .724      .696          
May     927          108.5          21*,539  131*.6     29.65        1*0.9   .725      .700          
Sept.   1,21*6       21*5.7         32,1*88  178.2      29.89        1*1.8   .715      .685          
Oct.    1,132        132.5          - 30,883 169.1*     30.97        1*1.6   .744      .714          
191*3   1,056        123.5          32,980   180.9      35.21*       l*l*.l  .799      .751          
May     975          Ul*.l          30,811   169.0      35.55        1*1*.6  .797      .746          
191*1*  1,090        127.6          37,173   203.9      38.1*8       1*5.1*  .81*9     .790          
191*5   1,067        121*.8         37,681*  206.7      39.51         1*4.9  .880      •821          
Jan.    1,01*7       122.6          36,900     202.1*   39.51        1*5.6   .867      .805          
Feb.    1,033        120.8          35,715   195.9      38.69        11.9    .861      .803          
March   1,016        118.9          35,1*1*1 19i*.l*    38.91*        1*5.1  .864      .805          
April   1,011*       118.6          35,511*  191*.8     39.15        1*5.0   .869      •811          
May     1,007        117.9          35,3U*   193.7      38.96        1*1*.5  .874      .819          
June    1,029        120.1*         36,936     202.6    1*0.01       1*5.6   .877      .815          
July    1,089        127.5          38,778     212.7    39.98        1*5.8   .874      .811          
Aug.    1,202        129.0          37,1*83  205.6      38.16         1*3.3  .882      .833          
Sept.   1,183        238.1*         1*1,312    226.6    39.36        1*1*.7  .880      .823          
Oct.    1,116        130.6          39,361     215.9    39.50         1*4.1  .895      .841          
Nov.    1,085        127.0          39,179     211*.9   1*0.31        44.4   .908      .852          
Dec.    1,078        126.2          1*0,181  220.1*     1*1.1*9      45.3»   .915      .852          
191*6                                                                                                
Jan.    1,051        123.0          39,197   ¿15.0        ' 1*1.37   44.9    .921      .859          
Feb.    l,oz*5       122.2                   ¿11.5      1*0.93       44.3    .924      •868          
March   i,Q34        121.0          37,%>      206.6                  42.9   .944      ".896         
April                118'3'                                                                          
May                                                                                                  
June                                                                                                 
July                                                                                                 
Aug.                                                                                                 
Sept.                                                                                                
Oct.                              *                                                                  
Nov.                                                                                                 
Dec.                                                                                                 
191*7                                                                                                
Jan.                                                                                                 
Feb.                                                                                                 
March                                                                                                
April                                                                                                
May                                                                                                  
June                                                                                                 
July                                                                                                 
Aug.                                                                                                 
Sept.                                                                                                
Oct.                                                                                                 
Nov.                                                                                                 
Dec.    ------------ ........- ---■          ---        ■.....- ---- ---     ---                     

SOURCE: United States Department of Labor, Bureau of Labor Statistics

108

INDUSTRY: SLAUGHTERING AND MEAT PACKING

NOTE: See p. 82       Employment,  Pay Rolls, Hours^and Earnings                           
      Production Yforkers  Production Worker  Average             Average Hourly Earnings  
Year    Estimated Index    Weekly Pay Rolls   Weekly    Average                 Straight-  
and   Number    (1939=     Amount  Index      Earnings  Weekly    Gross     Time          
Month (000)     100)       ($000)  (1939=100) (Dollars) Hours     (Dollars) (Dollars)     
1939  120.5     100.0      ♦ 3,119 100.0       #27.85   40.6         $ .686 $.664         
Aug.  119.7     99.4       3,085   98.9       27.77     40.4      .688      .667          
191:0 131.3     109.0      3,372   108.1      27.60     40.2      .686      .666          
1941  143.9     119.4      3,965   127.1      29.35     39.6        .741    .724          
Jan.  138.7     115.1      3,484   111.7      26.84     39.3      .681      .666          
Dec.  164.7     136.7      4,916   157.6      31.82’    40.7      .782      .757          
1942  172.2     1112.9     5,319   170.5      33.02     40.9      .808      .781          
May   164.9 •   136.9      4,938   158.3      31.87     39.9      .800      .779          
Sept. 177.5     1117.3     5,397   173.0      32.62     40.I      .813      .790          
Oct.  174.2     144.6      5,515   176.8      34.02     41.4      .821      .789          
1943  164.6     136.6      6,242   200.1      40.43     46.5      .872      .805          
May   154.0     127.8      5,942   190.5      41.09     47.3      .871      .800          
1244  157.4     130.6      6,741   216.1      45.42     49.5      .921      .832          
1945  133.6     110.8      5,668   IB 1.7     44.57     47.5        .941    .863          
Jan.  154.7     128.4      6,922   221.9      47.IB     51.1      .927      .829          
Feb,  144.9     120.3      5,868   188.1      42.80     46.8      .917      .845          
March 136.2     II3.I      5,559   178.2      42.92     46.3      .929      .859          
April 129.2     107.2      5,231   167.7      42.55     45.9      .929      .861          
May   124.4     103.3      5,069   162.5      42.74     45.7      .937      .870          
June  127.7     106.0      5,549   177.9      45.68     48.0      .953      .870          
July  127.4     IO5.7      5,459   175.0      45.08     47.7      •946      .867          
Aug.  124.3     IO3.2      4,935   158.2      41.57       44.4    .940      .882          
Sept. 126.5     105.0      5,540   177.6      45.81     48.0      .958      .875          
Oct.  126.9     105.3      5,400   173.1      44.54       46.9    .954      .879          
Nov.  132.5     110.0      5,777   185.2      45.78     47.6      .964      .883          
Dec.  147.7     122.6      6,704   214.9      47.51     50.1      .951      .856          
1946                                                                                      
Jan.  15¿.6     126.7      6,797   ¿17.9      46.60     48.7      •961      .874          
Feb.            125.5              199.4"     43.23     "4'6.1    •939                    
March U7.Ö                         191.1      42.56     40.6                         1.Ò14
April                                                                                     
May                                                                                       
June                                                                                      
July                                                                                      
Aug.                                                                                      
Sept.                                                                                     
Oct.                                                                                      
Nov.                                                                                      
Dec.                                                                                      
1947                                                                                      
Jan.                                                                                      
Feb.                                                                                      
March                                                                                     
April                                                                                     
May                                                                                       
June                                                                                      
July                                                                                      
Aug.                                                                                      
Sept.                                                                                     
Oct.                                                                                      
Nov.                                                                                      
Dec.                               ---------        --- ---------           ---------     

SOURCE: United States Department of Labor, Bureau of labor Statistics

309

                               INDUSTRY GROUP: TOBACCO MANUFACTURES                                  
NOTE: See p. 82             Employment, Pay Rolls, Hours, and Earnings                               
Production1 WoAers Production Worker    Average              Average Hourly Earnings                 
Year    Estimated Index    Weekly Pay Rolls     Weekly     Average                Straight-          
and     Number      (1939 = Amount     Index     Earnings   Weekly   Gross        Time               
Month     (000)       100)     ($000)   (1939=100)   (Dollars)   Hours     (Dollars)     (Dollars)   
1939       93        100.0   $1,405     100.0      $16.84     35.4    $ .476       $ .476            
Aug.       97        103.9     1,507     107.3        17.42      36.9       .472          .466       
1940        92         98.5     1.468     104.5        17.84      36.1       .494          .489      
1941        94        100.6     1,628     115.9        19.27      37.0       .$20          .$13      
Jan.       88         94.4 4   1,418     100.9        17.89      35.7       .501          .$01       
Dec.       97        104.3     1,825     129.9        20.96      39.1       .$36          .$25       
1942        95        101.8     1,913     136.2        22.46      38.7       .580          .$69      
May        90         96.9     1,743     124.1        21.53      37.7       .571          .562       
Sept.      98        104.5     2,012     143.2 .      23.04      38.6       .$97          .$86       
Oct.       99        10$.8     2,147     152.8        24.32      40.4       .602   -     .$83 ‘      
1943        91         97.2     2,121     151.0        26.32      40.9       . 643          .621     
W       90         96.2     2,027     144.3        25.29      40.2       .629          .611          
1944        84         89.9     2,231     158.8        29.94      42.4       .706          .673      
1945        82         87.4     2,314     164.7        31.79      41.7       .764          .733      
Jan.       82         88.2     2,346     167.0        31.93      43.4       .736          .696       
Feb.       82         88.2     2,326     16$.6        31.71      43.0       .737          .699       
March      8 2         87.8     2,332     166.0        31.80      42.9       .741          .703      
April      81         86.8     2,259     160.8        31.28      42.3       .740         * .706      
May        80         85.6     2,208     1$7.2        31.04      41.6       .747          .717       
June       80         86.1     2,311     164.5        32.36      42.8       .757          .719       
July       78         83.4     2,134     151.9        30.73      41.0       .749          .723       
Aug.       79         84.3     2,097     149.3        29.85      39.0       .765          .750       
Sept.      83         89.5     2,473     176.0        33.21      42.3       .786          .750       
Oct.       86         92.2     2,553     181.7        33.35      42.0       .793          .759       
Nov.       83         89.2     2,419     172.2        32.65      40.4       .807          .782       
Dec.      82        87.8     2,30$     164.1       31.53     39.1      .806          .789            
1946                                                                                                 
Jan.      81        87.0    2,342     166.7       Eft      6      39.3       .824          .806     
Feb.                  8?.3     2,511     165Ì2    $UK      38.5                      .817           
March                  87.?    ' '2,407     171.3 ---      5 S2      .830        .810               
April            bo.l  _____ _____                                                                  
M^      ____ '1                         _                                                           
June                          _______ _______                                                       
July                ______ _______ _______                                                          
Aug.   _    ___ ____ ____ _                                                                         
Sept.                                                                                               
Oct.                             _____                                                              
Nov.                                                                                                
Dec.    __    _____ _____ _____                                                                     
1947       ____ ______ _______ _______                                                              
Jan.                                                                                                
Feb.      ____ ______ _______                                                                       
March     ____ ______ _______ _______                                                               
April            _____ ______ _____                                                                 
May      ____ _____ ______ ______                                                                   
June      ____ ______ _______                                                                       
July                                                                                                
Aug.     ___ _____ ______ ______                                                                    
Sept.                                                                                               
Oct.      ____                                                                                      
Nov.                                                                                                
Dec.                                                                                                

SOURCE: United States Department of Labor, Bureau of labor Statistics

INDUSTRY GROUP: PAPER AND ALLIED PRODUCTS

NOTE: See p. 82             Employment, Pay Rolls, Hours, and Earnings

       Production Workers  Production Worker                    Average Hourly Earnings  
       Estimated   Index   Weekly Pay Rolls   Average                     Straight-     
Year   Number     (1939 =                     Weekly    Average           - Time        
and    (000)       100)    Amount  Index      Earnings  Weekly  Gross          (Dollars)
Month                      (J000)  (1939=100) (Dollars) Hours   (Dollars)               
1939   265       100.0     1 5,974 100.0      1 23.72   40.1     1 .592       1 .575    
Aug.   264       99.6      5,902      98.8    2'3.50    39.9    .589      .574          
1940   278       104.6     6,434   107.7      24.48     39.9    .613      .597          
1941   314       118.3     8,268   138.4 *    27.75     42.0    .660      .632          
Jan.   282       106.3     6,721   112.5      25.16     4o.o    .629      .612          
Dec.   336       126.4     9,427   157.8      29.68     42.7    .695      .661          
1942   325       118.6     9,295   155.6      31.29     42.1    .743      .710          
May    321       121.1     9,164   153.4      30.24     41.6    .727      .698          
Sept.  300       112.9     8,859   148.3      31.29     40.8    .767      .742          
Oct.   304       114.4     9,606   160.8 *    33.46     43.4    .771      .729          
1943   324       122.2     11,040  184.8      36.02     45.2    .798      .744          
May    323       121.6     11,022  184.5      36.21     45.6    .794      .738          
1944   319       120.3     11,667  195.3      38.95     46.0    .846      .783          
194?   317       119.5     12,073  202.1      40.50     45.9    .883      •819          
Jan.   319       120.0     12,001  200.9      40.18     46.2    .869      .804          
Feb.   320       120.5     12,049  201.7      40.05     46.3    .865      .800          
March  3 IB      119.7     12,061  201.9      40.35     46.3    .871      .806          
April  312       117.7     11,936  199.8      40.63     46.5    .874      .807          
May    310       116.9     11,619  194.5      39.77     45.4    .876      .815          
Jtine  315       118.5     12,067  202.0      40.74     46.4    .879      .812          
July   309       116.4     11,828  198.0      . 40.78   46.3    .881      .815          
Aug.   311       117.0     11,303  189.2      38.69     44.0    .880      .828          
Sept.  312       117.5     11,990  200.7      40.96     45.9    .893      .828          
Oct.   321       120.9     12,360  206.9      41.10     45.8    .897      .832          
Nov.   326       122.9     12,605  211.0      41.23     45.7    .902      1 .838        
Dec.   335       126.3     13,083  219.0      41.46     45.6    .910      .845          
1946                                                                                    
Jan.             ' 148.6           ¿¿1.7'      '41.17   '44.3   ".928     ' .871        
Feb.             131.0             246.2      JlL22_ .           " .938   7 '.883       
March            Kt                ¿33.3                                  3±T           
April                                                                                   
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec.                                                                                    
1947                                                                                    
Jan.                                                                                    
Feb.                                                                                    
March                                                                                   
April.                                                                                  
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec.                             *                                                      

SOURCE: United States Department of Labor, Bureau of Labor Statistics

Ill

                         INDUSTRY GROUP: PRINTING, PUBLISHING, AND ALLIED INDUSTRIES                                   
 note* See p. 82                             Employment, Pay Rolls, Hours, and Earnings                                
       Production Workers                    Production worker         Average                Average Hourly Earnings  
Year   Estimated                index        Weekly        Pay Rolls   Weekly       Average             Straight-     
and    Number                   (1939=       Amount       index        Earnings     Weekly    Gross     Time          
Month           (000)           100)         (|000)        (1939=100)     (Dollars) Hours     (Dollars) (Dollars)     
1939   328                      100.0        ♦ 9,590      100.0        1 32.1*2       37.1*   $ .866    1 .851*       
Aug.   321»                     98.9         9,312            97.1     32.02        37.1      .863      •852          
W      329                      100.1*       9,820        102.1*       33.11 .        37.5    .882      .869          
191*1  31*1                     • 101*. 1    10,671*      111.3        31*.60         38.1*   .900      •881*         
Jan.             332            101.1*       4 10,050     101*.8       33.1*9         37.8    .886      .872          
Dec.   357                      109.0        11,91*9      121*.6       37.03          39.9    .928      .901*         
191*2            331            100.9        10,913       113.8        36.67          38.5    .952      .935          
May    327                      99.6         10,606       110.6        36.01*         38.1    .91*6     .931          
Sept.  321                      97.9         10,597           no.5     36.67          38.2    .960      .91*1*        
Oct.   329                      100.3        11,086       115.6        37.51          38.5    .973      .955          
191*3  331                      100.8        11,959          1211.7    1*0.25         1*0.1   1.004     .976          
May    325                      99.0         11.623       121.2        39.82          39.9    .998      .972          
191*1* 326                      99.3         12,927       131*.8       1*1*.13        1*1.0   1.076     1.038         
192:5  327                      99.9         13,838          H*l*.3    1*7.22        1*1.1*   1.139     1.095         
Jan.   321*                     98.8         13,1*07      139.8        1*6.03         1*1.5   1.109     1.066         
Feb.             323            98.5         13,253       138.2        1*5.71*        1*1.0   1.115     1.076         
March  322                      98.2         13,368          139.1*    1*6.61         1*1.6   1.121     1.076         
April  319                      97.3         13,253       138.2        1*6.52         1*1.2   1.129     I.O87         
May    320                      97.5         13,320          138.9     1*6.63         1*1.2   1.133     1.091         
June   320                      97.5         13,387       139.6.       1*6.93         1*1.6   1.128     1.083         
July   317                      96.8         13,215       137.8        1*6.62         1*1.5   1.123     1.079         
Aug.   322                      98.3         13,1*26      11*0.0       1*6.60         1*0.7   1.11*1*   1.107         
Sept.  321*                     98.8         11*,161*        11*7.7    1*8.89         1*2.2   1.158     1.106         
Oct.   336                      102.5        H*,1*52         150.7     1*8.01         1*1.6   1.155     1.109         
Nov.   31*7                     105.9        15,200          158.5     1*8.83       1*1.7     1.171     1.123         
Dec.   355                      108.1        15,651       163.2        1*9.28         1*1.5   1.188     1.11*2        
W                               109.1*                                                        MOO                     
Jan.                            112.1                                                         "1.216                  
Feb.                                               15,890    1&5.7     1^.36        1*1.1“              1.15? '       
March                                             ' 16^55 ■"170.6      50.76        1*6.8               1.171         
April                                                     '17'6.8                   1*1.3               "1.383        
May                                                                                                                   
•Time                                                                                                                 
July                                                                                                                  
Aug.                                                                                                                  
Sept.  ---                                                                                                            
Oct.                                                                                                                  
Nov.                                                                                                                  
Dec.                                                                                                                  
191*7  WM                       ------------ ■ 1 ■ ...... ------------ ------------           ---------               
Jan.                                                                                                                  
Feb.   ■' ■                   ■                                                                                       
March                                                                                                                 
April                                                                                                                 
May                                                                                                                   
June           ■■ -■■"                                                                                                
July                                                                                                                  
Aug.                            ---------                 ------------          --- ---------           ---------     
Sept.                                                                                                                 
Oct.   ------                   ---------    ---                                --- --------- ---       ---           
Nov.                                                                                                                  
Dec.                                                                                                                  

SOURCE: United States Department of Labor, Bureau of Labor Statistics

112

                           INDUSTRY GROUP: CHEMICALS AND ALLIED PRODUCTS                  
NOTE: See p, 82              Employment, Pay Rolls, Hours, and Earnings                   
      procruction. Workers  Production Worker  Average           Average hourly Warnings  
Year  Estimated  Index      Weekly Pay Rolls   Weekly    Average           Stradali-     
and   Number     (1939=     Amount  Index      Earnings. Weekly  Gross     Time          
Month   (000)    100)       (1000)  (1939=100) (Dollars) Hours   (Dollars) (Dollars)     
1939  288        100.0      $6,878  100.0        $ 25.59 39.5    $ .649    $ .634        
Aug.  266        • 92.4     6,534      95.0    26.35     39.5    .667      .652          
1940  319        110.7      8,061   117.2      26.80     39.7    .676      .660          
1941  416        144*3      11,996  174.4      30.15     40.8    .739      .715          
Jan.  355        123.3      9,210   133.9      27.53     39.9    .690      .672          
Dec.  477        165.5      15,091  219.4      33.19     41.7    .796      .763          
1942  605        209.9      21,165  307.7      36.36     42.8    .848      .806          
May   586        203.3      20,257  294.5      36.12     42.7    .846      .805          
Sept. 645        223.6      23,132  336.3      37.62     42.7    .881      .838          
Oct.  669        232.1      24,033  349.4      37.74     43.6    .866      .818          
1943  734        254.5      29,061  422.5      41.53     45.3    .916      .853          
May   739        256.3      29,295  425.9      41.54     45.7    .909      .844          
1944  660        229.1      27,383  398.1      43.58     45.7    . .953    .885          
1945  611        211.9      25,484  370.5      44.00     44.5    .989      .927          
Jan.  686        238.0      28,875  419.8      44.41     45.7    .972      .903          
Feb.  697        241.9      29,316  426.2      44.27     1)5.5   .972      .904          
March 698        242.3      29,646  431.0      44.78     45.9    .975      .904          
April 693        240.5      29,446  428.1      44.77     45.7    .980      .910          
May   682        236.8      29,281  425.7      45.26     45.7    .990      .920          
June  671        232.8      28,724  417.6      45.24     45.4    .997      .927          
July  643        223.2      27,362  397.8      45.03     45.1    .999      ♦931          
Aug.  600        208.3      24,570  357.2      43.53     43.4    I.003     .948          
Sept. 496        172.1      20,099  292.2      43.01     43.4    .992      .937          
Oct.  486        168.5      19,596  284.9      42.95     43.3    .991      .936          
Nov,  487        169.1      19,383  281.8      42.10     42.5    .991      .943          
Dec.  488        169.2      19,493  283*4      42.55     42.5    1.001     ♦953          
1946                                                                                     
Jan.             169.7      "17,417 “285,?                  W    “LOIS"                  
Feb.                                                        w                            
March            171.4              "¿92.3                       □LESI                   
April                                                                                    
May                                                                                      
'June                                                                                    
July                                                                                     
Aug.                                                                                     
Sept.                                                                                    
Oct.                                                                                     
Dec.                                                                                     
1947                                                                                     
Jan.                                                                                     
Feb.                                                                                     
March                                                                                    
April                                                                                    
June  --- ---                                                                            
July             ------                                                                  
Aug.                                                     ■ ■'■                           
Sept.                                                                                    
Oct.                                                                                     
      •---                                                                               
                                               ---                                       

SOURCE: United States Department of Labor, Bureau of Labor Statistics

1X3



INDUSTRY GROUP: PRODUCTS OF PETROLEUM AND COAL

NOTE: See p. 82            Employment, Pay Rolls, Hours, and Earnings

      Production Workers  Production Worker  Average           Average Hourly gamings  
Year  Estimated   Index   Weekly Pay Rolls   Weekly    Average             Strai ght-  
and   Number     (1939 =  Amount     index   Earnings  Weekly  Gross     Time         
Month (000)       100)    (#000)  (1939=100) (Dollars) Hours   (Dollars) (Dollars)    
1939  106       100.0     $ 3,355 100.0      $ 32.62 ■ 36.5    $.894             $.883
Aug.  108       102.3     3,435   102.4      32.65     36.6    .892      .881         
MO    112       105.8     3,586   106.9      32.82     37.0    .887      .875         
Mi    120       113.5     4,237   126.3      35.96     37.8    .950      .935         
Jan.  114       108.1     3,623   108.0      32.46     36.6    .887      .876         
Dec.  123       116.6     4,744   141.4      39.23     38.5    1.019     1.001        
M2    125       118.3     5,103   152.1      41.56     39.6    1.049     1.025        
May   125       118.3     4,915   146.5      39.92     39.1    1.021     1.000        
Sept. 127       120.0     5,351   159.5      42.98     39.5    1.088     1.063        
Oct.  126       118.6     5,364   159.9      43.80     40.5    1.081     1.047        
M3    125       117.6     6,183   184.3      50.17     44.5    1.127     1.056        
May   124       117.0     6,126   182.6      49.93     44.5    1.122     I.051        
1944  131       123.5     7,176   213.9      55.19     46.7    1.181     1.089        
MS    135       127.2     7,488   223.2      55.87     46.2    1.210     1.129        
Jan.  133       126.3     7,451   222.1      56.20     46.6    1.206     1.113        
Feb.  134       126.4     7,508   223.8      56.58     47.3    I.I96     1.098        
March 134       126.6     7,535   224.6      56.65     47.4    1.195     1.096        
April 134       126.4     7,726   230.3      58.06     48.3    1.202     1.096        
May   134       126.8     7,642   227.8      57.24     47.5 ‘  1.204     I.104        
June  135       127.4     7,736   230.6      57.72     47.8    I.207     1.204        
July  136       128.0     7,870   234.6      58.01     47.7    1.217     1.115        
Aug.  135       128.0     7,709   229.8      57.28     46.9    1.222     1.125        
Sept. 131       123.3     7,U6    212.1      54.70     44.9    1.217     1.235        
Oct.  131       123.6     6,643   198.0      51.33     42.6    1.204     1.146        
Nov.  139       131.3     7,478   222.9      53.54     44.0    1.217     1.145        
Dec.  140       132.3     7,454   222.2      53.05     42.9    1.236     1.173        
1946                                                                                  
Jan.            134.0     XMi     220.9      52.06     TO      7.249          l.M     
Feb.                              224.7      52.93     41.4                  1.229    
March           137. ¿            ¿31.0                                               
April                                                                                 
May                                                                                   
June                                                                                  
July                                                                                  
Aug.                                                                                  
Sept.                                                                                 
      -------                                                                         
      MMM                                                                             
      ■~---•                                                                          
1947                                                                                  
Jan.                                                                                  
Feb,  •---^~                                                                          
March ■■» » ।                                                                         
April                                                                                 
May                                                                                   
June  «MW                                                                             
July                              ---------              ..... ---------              
Aug.                                                                                  
Sept.                                                                                 
Oct.                                                                                  
Nov.                                                                                  
      ------•                                                                         

SOURCE: United' States Department of labor, Bureau of Labor Statistics
897283 O—46 8



114


INDUSTRY GROUP: RUBBER PRODUCTS

NOTE: See p. 82            Employment, Pay Rolls, Hours, and Earnings

       Hroduction Workeirs Production Worker    Average               Average Hourly Earnings  
Year   Estimated  Index    Weekly Fay Rolls -   Weekly     Average                St raidit-   
and    Number     (1939 =  Amount    Index     Earnings   Weekly   Gross        Time           
Month  (000)       100)     ($000)   (1939=100)   (Dollars)   Hours     (Dollars)     (Dollars)
1939   121 100.0 $ 3,110 100.0 $ 27.84 36.9 $ «754 $ «744                                      
Aug.   119 98.5 3,089 99.3 28.16 37.1 .759 .749                                                
1940   127 104.5 3,278 105.4 28.24 36.9 .766 . .756                                            
1941   156 129.0 4,669 150.1 32.49 39.5 .822 .803                                              
Jan.   142 117.1 3,959 127.3 30.38 39.0 .779 .763                                              
Dec.   161 133.4 4,955 159.3 33.66 39.0 .863 .846                                              
1942   155 128.0 5,480 176.2 38.37 41.6 .921 .884                                              
May    141 116.4 4,880 156.9 37.76 41.4 .912 .876                                              
Sept.  163 134.4 5,869 188.7 39.31 41.6 .945 .907                                              
Oct.   168 139.1 6,242 200.7 40.39 42.7 .947 .901                                              
1943   194 160.3 8,208 263.9 45.94 45.0 1.021 .953                                             
May    18? 156.1 7,913 254.4 45.63 45.4 1.005 .935                                             
1944   204 168.5 9,362 301.0 49.80 45.5 1.095 1.018                                            
191*5  397 163.1 9,064 291.4 49.54 44.0 1.125 < 1.059                                          
Jan.   209 172.6 10,522 338.3 54.49 47.3 1.151 1.057                                           
Feb«   210 173.2 10,560 339.5 54.40’ 47.3 1.149 1.055                                          
March  209 173.2 9,810 315.4 50.62 45.4 1.117 1.040                                            
April  205 169.6 9,826 315.9 51.93 45.7 1.136 1.055                                            
May    201 166.6 9,325 299.8 50.09 44.2 1.132 1.064                                            
June   199 164.5 9,465 304.3 51.45 45.2 1.140 1.062                                            
July   194 160.5 9,291 298.7 51.81 45.5 1.138 1.058                                            
Aug.   191 158.0 8,264 265.7 46.76 41.8 1.119 1.072                                            
Sept«  165 136.5 7,194 231.3 47.20 43.0 1,098 1,041                                            
Oct« , 187 154.4 7,907 254.2 45.57 41.4 I.100 1.057                                            
Nov«   194 160.1 8,018 257.8 44.68 40.2 1.112 1.080                                            
Dec«   203 168.2 8,569 275.5 45.48 40.9 1.113 1.075                                            
1946                                                  ^2.? _9iO23 " 29b. 1 46.71 41.7 TT31 TTWg
Jan«   -^ -2&L ^¿7 40.7 1.138                                                                  
Feb,                                                                                           
March                                                                                          
April                                                                                          
May                                                                                            
June                                                                                           
July                                                                                           
Aug.                                                                                           
Sept.                                                                                          
Oct«                                                                                           
Nov.                                                                                           
Dec«                                                                                           
1947                                                                                           
Jan.                                                                                           
Feb.                                                                                           
March                                                                                          
April                                                                                          
May                                                                                            
June                                                                                           
July                                                                                           
Aug.                                                                                           
Sept.                                                                                          
Oct.                                                                                           
Nov.                                                                                           
Dec.                                                                                           

SOURCE: United States Department of labor, Bureau of Labor Statistics

115

INDUSTRY: BITUMINOUS COAL

NOTE: See p. 82  Employment, Pay Rolls, Hours, and Earnings                       
      Production Workers     Production Worker     Average              Average  
Year  Estimated  Index       Weekly     Pay Rolls  Weekly    Average    Hourly   
and   Number     (1939 =     Amount     index      Earnings  Weekly     Earnings 
Month (000)      100)        ($000)     (1939=100) (Dollars) Hours      (Dollars)
1939  371        100.0       $8,304     100.0      $ 23.88   27.1       $ .886   
Aug.  3811       103.6       8,885      107.0      24.61     27.4       .890     
1910  1115       112.1       9,674      116.5      24.71     28.1       .883     
i9ia  1107       109.7       11,866     142.9      30.86     31.1       .993     
Jan.  1125       114.8       10,463     126.0      26.00     29.7       .885     
Dec«  451        121.6       14,283     172.0      33.38     31.6       1.068    
1942  435        117.5       14,524     174.9      35.02     32.9       1.059    
May   438        118.3       14,549     175.2      34.55     32.7       1.060    
Sept. 432        116.6       14,557     175.3      35.64     33.5       1.065    
Oct.  427        115.3       14,864     179.0      36.56     34.2       1.070    
1913  386        104.1       15,587     187.7      41.62     36.6       1.139 ’  
May   385        103.8       14,648     176.4      39.12     35.2       1.120    
1944  354        95.5        17,704     213.2 ,    51.27     43.4       1.186    
1945  322        86.9        16,268     195.9      52.25     42.3       1.240    
Jan.  338        91.1        17,795     214.3      54.11     44.9       1.204    
Feb.  337 .      90.8        17,654     212.6      53.89     45.1       1.190    
March 334        90.2        16,965     204.3      52.26     43.8       1.197    
April 305        82.2        12,813     154.3      43.45     36.8       1.184    
May   327        88.2        16,982     204.5      53.75     42.4       1.256    
June  331        89.2        18.900     227.6      59.U      46.2       1.285    
July  323        87.1        15,836     190.7      50.66     40.8       1.254    
Aug.  323        87.1        15,612     188.0      49.90     10.1       1.249    
Sept. 325        87.6        16,583     199.7      52.73     42.3       1.261    
Oct.  262        70.8        10,006     120.5      39.09     32.2       1.242    
Nov.  327        88.2        17,671     212.8      56.29     44.9       1.263    
Dec.  333        89.8        18,435     222.0      58.09     45.7       1.281    
W                                                                                
Jan.             92,0        '18,^01    20^9       3737-        43.3    W        
Feb.             92^2                      TO'     58.30         it              
March            IO                       22?.à                                  
April                                                                            
May                                                                              
June                                                                             
July                                                                             
Aug.                                                                             
Sept.                        ---                   ---------            ---      
Oct,                                                                             
Nov.                                                                             
Dec.                                                                             
19117            - ■ ■ • --- ---------  » ----_--- ---       ■ ■- ■ ■•■ ---      
Jan.                                                                             
Feb.             ---         ..........                                          
March                                                                            
April                                                                            
May                                                                              
June                                                                             
July                                                                             
Aug.                                                                             
Sept.                                                                            
Oct.                                                                             
Nov.                                                                             
Dec.                                                                             

SOURCE: United States Department of Labor, Bureau of Labor Statistica

116

                                       INDUSTRY: ANTHRACITE COAL

„ Employment, Pay Rolls, Hours, and Earnings NOTE: See p. 82  

Production Workers              Production Worker    Average      ^        Average   
Year    Estimated Index         Weekly Pay Rolls     Weekly     Average  Hourly      
and     Number      (1939 -     Amount     Index     Earnings   Weekly   Earnings    
Month     (000)       100)      ($000)   (1939=100)   (Dollars)   Hours     (Dollars)
1939       82.8       100.0     $ 2,066     100.0      $ 25.67      27.7     $ .923  
Aug.      79.7        96.2      1,775      85.9        23.13      24.2       .928    
1940       83.4       100.7     2,033      98.4        24.94      27.2       .924    
1941       81.7        98.7     2,188     105.9        27.41      28.1       .971    
Jan.      82.7       99.9       2,033      98.4        25.13      27.0       .925    
Dec.      80.7        97.5      1,895      91.7        24.20      24.1       .995    
M2     77.6      93.7           2,568     124.3        33.85      33.7       .989    
May      79.2        95.7       2,719     131.6       35.05      35.2       .991     
Sept.     76.6        92.5      2,647     128.1       35.40      35.8       .986     
Oct.      76.0        91.8      2,549     123.4        34.36     35.1       .984     
1943      71.2        86.0      2,766     133.9        40.04      37.5      1.069    
May      72.3        87.3       2,626     127.1       37.39      36.1      1.037     
1944        67.li         81.1i 3,128     151.4        47.93      40.7      1.178    
1945       60.1       72.6      2,849     137.9        48.98      39.2      1.252    
Jan.      65.4        79.0      2,845     137.7        44.81     38.9      1.154     
Feb.      65.6        79.2      3,103     150.2        48.68      41.7      1.164    
March     65.4       79.0       3,093     149.7        48.76      41.4      1.179    
April     64.1        77.4.     2,791     135.1        44.92      38.9      1.153    
May        8.0    ’    9.7      295      14.3        38.10      36.4      1.039      
June      65.3        78.9      3,004     145.4        47.48      41.1      1.170    
July     64.3        77.6       2,948     142.7        47.47      39.4      1.219    
Aug.      64.1       77.4       3,058     148.0        49.29      37.1      1.327    
Sept.     64.3        77.6      3,095     149.8        49.85      37.0      1.345    
. Oct.      64.7        78.1    3,529     170.8        56.45      41.2      1.3 68   
Nov.      64.8        78.2      2,985     144.5        47.75      35.8      1.333    
Dec.      65.4       79.0       3,452     167.1        54.62      39.6      1.380    
1946                  ______    M M & ä S                                            
J®*     65.7       79.3                                                              
Feb.     £7.3      "BX1                                                              
March     6?.7        81.7                                                           
April                                                                                
May     _____ /____                                                                  
June    ______ ______                                                                
July ______ ______                                                                   
Aug.     ______ ______                                                               
Sept.    ______ ______                                                               
Oct.     ______ ______                                                               
Nov.     ______ ______                                                               
Dec.     ______ ______                                                               
1947                                                                                 
Jan.                                                                                 
Feb.                                                                                 
March                                                                                
Api-il J______                                                                       
May     _____                                                                        
J®8   ____ ____                                                                      
July    _____ ______                                                                 
Aug.     ______ ______                                                               
Sept.                                                                                
Oct.     ______ ______                                                               
Nov.     ______ ______                                                               
Dec.                                                                                 

SOURCE: United States Department of labor. Bureau of labor Statistics

117

INDUSTRY GROUP: METAL MINING

 NOTE: See p. 82  Employment , Pay Rolls, Hours,  and Earnings                  
       Production Workers    Production Worker    Average              Average  
 Year  Estimated  index      Weekly Pay Rolls     Weekly       Average Hourly   
 and   Number      (1939 *   Amount  Index        Earnings     ’Weekly Earnings 
 Month (000)      100)       ($000)    (1939-100) (Dollars)    Hours   (Dollars)
 1939  88.2       100.0      $2,1109 100.0        $ 28.93      110.9   $.708    
 Aug.  85.7       97.1        2,305      95.7     28.63        110.7   .703     
 mo    97.li      uo.5        2,792  115.9        30.211       111.11  .730     
 Ml    106.9      121.2       3,389  1110.7       33.211       111.7   .797     
 Jan.  100.6      1111.1      2,932  121.7        30.63        111.0   .7117    
 Dec.  109.9      1211.7     3,823   158.7        36.111       112.9   .8119    
 M2    107.7      122.0       3,999  166.0        38.72        113.6   .889     
 May   110.9      125.7      11,066  168.8        38.Hi        113.7   .873     
 Sept. M.6        118.5       3,927  163.0        39.13        113.2   .906     
 Oct.  102.8      116.5      3,9116  163.8        110.03       113.8   .913     
 1913  96.li      109.3      11,021  166.9        113.27       1111.3  .976     
 May   97.9       110.9      11,100  170.2        113.56       1111.3  .9811    
 ( Mil 79.0       89.6       3,1118  11:1.9       1111.55      1111.2  1.007    
 1913  66.6       75.5        2,970  123.3        115.86       1111.0  1.0112   
 Jan.  69.2       78.li       3,028  125.7        115.08       1111.0  1.023    
 Feb.  68.9       78.1       3,121i  129.7        116.711      lt5.o   1.035    
 March 69.1       78.U        3,153  130.9        116.92       U5.0    1.0112   
 April 68.6       77.8        3,161  131.2        117.35       115.5   1.0110   
 May   68.2       77.3        3,098  128.6        116.69       Ii5.o   1.038    
 June  67.0       76.0        3,096  128.5        117.113      115.11  1.0115   
 July  65.8       711.6       2,917  121.1        115.65       113.9   1.039    
 Aug.  6U.5       73.1        2,751  1111.2       113.98       112.0   1.0118   
 Sept. 63.7       72.2       2,801i  H6.li        115.33       113.0   1.055    
 Oct.  63.7       72.2        2,852  118.li       116.17       1111.3  1.0113   
 Nov.  611.6      73.2        2,823  117.2        115.09       113.0   I.OI18   
 Dec.  66.3       75.2        2,833  117.6        lili.lli     112.0   1.051    
 M6               '76.3      ' ¿AT   118.0             W               L036     
 Jan.             7¿.O        2,276      _2i¿                          w        
 Feb.             57.li                                                         
 March                                                                          
 April                                                                          
 May                                                                            
 June                                                                           
 July                                                                           
 Aug.                                                                           
 Sept.                                                                          
 Oct.                                                                           
 Nov.                                                                           
 Dec.                                                                           
 M7                                                                             
 Jan.                                                                           
 Feb.                                                                           
 March                                                                          
 April                                                                          
 May                                                                            
 June                                                                           
 July                                                                           
 Aug.                                                                           
 Sept.                                                                          
 Oct.                                                                           
 Nov.                                                                           
 Dec.                                                                4          

SOURCE: United States Department of Labor, Bureau of Labor Statistics

uß

INDUSTRY: QUARRYING AND NONMETALLIC MINING

NOTE: See p. 82 Employment, Pay Rolls, Hours,   and Earnings                 
      Production Workers  Product ion Worker    Average            Average  
Year  Estimated Index     Weekly Pay Rolls      Weekly     Average Hourly ‘ 
and   Number    (1939 =   Amount   index        Earnings   Weekly  Earnings 
Month   (000)   100)      ($000)   (1939=100).  (Dollars)  Hours   (Dollars)
1939  63.7      100.0     $ 1,232  100.0        $ 21.61    39.2    ♦ .550   
Aug.  69.0      108.4     1,370    111.2        22.17      40.5    •546     
1940  65.1      102.2     1,295       '105.1    22.33      39.3    .568     
1941  71.7      112.5     1,658    134.6        26.25      41.8    .628     
Jan.  59.9      94.1      1,181        95.9     22.06      38.2    .576     
Dec.  73.3      * 115.0   1,786    145.0        27.74      41.9    .667     
1942  71.2      111.8     1,972    160.1        31.34      43.7    .717     
May   74.3 •    116.7     2,018    163.8        30.79      43.7    .707     
Sept. 72.9      114.5     2,161    175.4        32.85      44.7    .738     
Oct.  71.9      112.9     2,207    179.1        34.01      45.7    .744     
191<3   61.3    96.2      1,997    162.1        36.23      46.0    .789     
May     62.6    98.2      2,049    166.3        36.34      46.4 »  .785     
1944    53.4    83.8      1,889    153.3        39.55      46.3    .856     
MS      51.1    80.2      1,884    152.9        41.26      46.6    .886     
Jan.  48.2      75.6      1,663    135.0        38.73      44.6    .868     
Feb.  48.0      75.4      1,688    137.0        39.27      45.5    .860     
March 48.8      76.6      1,756    142.5        40.26      46.5    .868     
April   49.5    77.7      1,863    151.2        41.98      48.0    .874     
May     49.9    78.3      1,858    150.8        41.52      47.2    .879     
June  51.3      80.5      1,956    158.8        42.38      48.2    .879     
July    51.8    81.3      1,995    161.9        42.91      48.0    .895     
Aug.  52.0      81.7      1,921    155.9        41.25      46.6    .885     
Sept. 52.6      82.5      1,961    159.2        41.91      46.5    , .900   
Oct.    53.4    83.9      2,024    164.3        42.63      47.2    .902     
Nov.    54.1    ' 85.0    2,011    163.2        41.79      46.1    .909     
Dec.    53.4    83.8      1,930       155.0     40.07      44.2    .908     
1946    53.1              3^2      150.9            ¡9.25  JlU.    ^211-    
Jan.                      -¿-         357.?         ^0-25                   
Feb.                                                                        
March                                                                       
April                                                                       
May                                                                         
June                                                                        
July                                                                        
Aug.                                                                        
Sept.                                                                       
Oct.                                                                        
Nov.                                                                        
Dec.                                                                        
1947                                                                        
Jan.                                                                        
Feb.                                                                        
March                                                                       
April                                                                       
May                                                                         
June                                                                        
July                                                                        
Aug.                                                                        
Sept.                                                                       
Oct.                                                                        
Nov.                                                                        
Dec.                                                                        

SOURCE: United States Department of Labor, Bureau of Labor Statistics

W

INDUSTRY» CRUDE PETRO IEUM PRODUCTION

NOTE» See p. 82 .  Employment, Pay Rolls, Hours, and Earnings             
Year  Production   Workers Production Worker  Average   Average Average  
and   Estimated    Index   Weekly  Pay Rolls  Weekly    Weekly  Hourly   
Month Number       (1939 - Amount  index      Earnings  Hours   Earnings 
      (000)        100)    (8ooo)  (1939=100) (Dollars)         (Dollars)
1939  113.5        100.0   13,238  100.0       $34.09   38.3    $ .873   
Aug.  115.1        101.1*  3,293   101.7        34.18   38.8    .864     
1940  108.5        95.6    3,092   95.5         34.03   37.8    .881     
19hl  105.3        92.8    3,212   99.2         36.37   37.9    .934     
Jan.  101*. 1      91.7    2,956   91.3         33.99   37.7    .885     
Dec.  105.1*       92.9    3,1*29  105.9        38.92   38.3    .988     
1942  99.3         87.5    3,377   104.3        40.35   39.0    1.014    
May   100.2        88.3    3,293   101.7        39.01   38.4    .994     
Sept. 96.5         85.0    3,1*1*5 106.4       • 42.38  39.9    1.037    
Oct.      95.8     .84.1*  3,1*03  105.1        42.26   39.8    1.039    
191*3 92.8         81.8    3,756   116.0        47.85   42.6    1.100    
May       92.7     81.7    3,623   111.9        46.3?   41.0    1.100    
1914* 93.6         82.5    4,219   130.3        53.27   45.4    1.151    
191*5 95.3         81*.0   4,378   135.2        54.24   45.2    1.197    
Jan.  93.2         82.1    4,281   132.2        54.59   45.7    1.184    
Feb.  93.5         82.1*   4,329   133.7        54.93   46.4    1.183    
March 93.8         82.6    4,300   132.8        54.31   46.2    1.175    
April     93.9     82.7    4,268   131.8        53.89   45.2    1.191    
May   91*. Ô       82.8    4,287   132.4        54.08   46.1    1.172    
June  91*.9        83.6    4,407   136.1        54.84   46.3    1.184    
July  95.1         83.8    4,394   135.7        54.40   45.0    1.209    
Aug.      95.6     81*.2   4,507   ' 139.2      55.51   46.8    1.187    
Sept. 95.3         81*.O   4,481   138.4        55.41   45.4    1.222    
Oct.     96.1*     81*.9   4,326   133.6        53.01   44.4    1.189    
Nov.     98.1*     86.7    h,533   140.0        54.40   43.9    1.231    
Dec.  100.3        88.ii   4,400   135.9        51.70   41.0    1.251    
191*6                                                                    
Jan.  102.2        90.0    4.501   .    139.0  -51.89   41.1    1.257    
Feb.  103.3        91.0    h.598                52,45   40.5    1,289    
March 103.1        90.8    4,676                «■Ip    EIS              
April                                                                    
May                                                                      
June                                                                     
July                                                                     
Aug.                                                                     
Sept.                                                                    
Oct.                                                                     
Nov.                                                                     
Dec.                                                                     
191*7                                                                    
Jan.                                                                     
Feb.                                                                     
March                                                                    
April                                                                    
May                                                                      
June                                                                     
July                                                                     
Aug,                                                                     
Sept.                                                                    
Oct.                                                                     
Nov.                                                                     
Dec.                                                                     
                                                                         

SOURCE: United States Department of labor, Bureau of Labor Statistics

120

INDUSTRY GROUP: WHOLESAIE TRADE

NOTE: See p. 82  Employment, Pay Rolls, Hours,   and Earnings                  
      Production Workers Production Worker       Average              Average  
Year  Estimated  Index   Weekly Pay Rolls        Weekly       Average Hourly   
and   Number     (1939 = Amount        index     Earnings     Weekly  Earnings 
Month (000)      100)    ($000)      (1939=100)   (Dollars)   Hours   (Dollars)
1939  1,562      100.0   $50,1*85      100.0        $29.85    41.7    $.715    
Aug.  1,559      99.8    50,233         99.5     29.82        41.9    .711     
1940  1,583      101.3   52,050        103.1        30.39     41.2    .739     
191*1 1,61*5     305.3   57,1*52       113.8        32.32     41.0    .793 '   
Jan.  1,598      102.3   53,060        105.1        30.59     40.6    .756     
Dec.  1,687      108.0   61,188        121.2        33.69     41.3    .820     
1942  1,598      102.3   61,339        121.5        35.56     41.3    .860     
Kay   1,598      102.3   60,481     119.8           35.20     41.4    .852     
Sept. 1,565      100.2   60,885        120.6        36.08     41.2    .878     
Oct.  1,576      100.9   62,399        123.6        36.52     41.7    .879     
191*3 1,1*98     95.9    64,116        127.0        39.40     42.2    .933     
May   1,1*85     95.1    62,753        124.3        38.86     41.7    .934     
Ml*   1,1*92     95.5    68,660        136.0        42.29     42.9    .985     
191*5 1,515      97.0    73,456        145.5        44.07     42.7    1.029    
Jan.  1,1*95     95.7    70,225        139.1     43.15        42.7    1.006    
Feb.  1,1*95     95.7    71,436        141.5     43.45        42.8    1.013    
March 1,1*88     95.3    71,386        141.4     43.51        42.9    1.016    
April 1,1*82     91*.9   72,900        144.4        44.51     43.2    1.031    
May   1,1*76     91*.5   71,083        140.8     43.83        42.9    1.018    
June  1,1*71*    91*.l*  71,638        141.9     44.13        42.8    1.027    
July  1,1*82     91*. 9  73,052        144.7     44.92        43.1    1.037    
Aug.  1,1*96     95.8    71,335        141.3     43.27        42.4    1.013    
Sept. 1,515      97.0    73,506        145.6     43.85        42.4    1.025    
Oct.  1,553      99.1*   76,081        150.7     44.60        42.6    1.045    
Nov.  1,590      101.8   78,353        155.2     44.94        42.3    1.056    
Dec.. 1,626      104.1   80,372        159.2     44.71        42.0    1.058    
191*6                                                                          
Jan.  BE           'PM                 161.2     ¡¿•^                 M        
Feb.  1,665       106.6                  w       46.51                         
March l.#7        106.1                                                        
April                                                                          
May                                                                            
June                                                                           
July-                                                                          
Aug.                                                                           
Sept.                                                                          
Oct.                                                                           
Nov.                                                                           
Dec.                                                                           
191*7                                                                          
Jan.                                                                           
Feb.                                                                           
March                                                                          
April                                                                          
May                                                                            
June                                                                           
July                                                                           
Aug.                                                                           
Sept.                                                                          
Oct.                                                                           
Nov.                                                                           
Dec.                                                                           

SOURCE: United States Department of Labor, Bureau of labor Statistics

121

INDUSTRY GROUP: RETAIL TRADE

NOTE: See p. 82 Employment, Pay Rolls, Hours, and Earnings

      Production Workers Producti on Worker   ,Average         Average  
fear  estimated  index   Weekly Pay Rolls    Weekly    Average Hourly   
and   Number     (1939 =  Amount  Index      Earnings  Weekly  Earnings 
Month (000)      100)     ($000)  (1939=100) (Dollars) Hours   (Dollars)
1939  3,770      100.0   $ 75,830 100.0       $ 21.17  43.0    $ .536   
Aug.  3,650      96.8     73,555     97.0    21.39     43.1    .541     
1940  ' 3,853    102.2    78,408  103.4      21.17     42.9    .542     
1941  4,087      108.4    86,825  114.5      21.94     42.5    .568     
Jan.  3,774      100.1   77,726   102.5      21.53     42.9    .549     
Dec.  4,702      124.7   100,323  132.3      21.59     42.3    .565     
1942  3,929      . 104.2 88,418   116.6      23.24     41.6    •614     
May   3,930      103.7    87,129  114.5      23.08     41.6    .611     
Sept. 3,816      101.2   86,750   114.4      23.41     41.1    .625     
Oct.  3,933      104.3   89,707   118.3      23.36     40.9    .627     
1943  3,767      99.9     91,451  120.6      24.88     40.5    .670     
May   3,714      98.5     88,797  117.1      24.42     40.3    .663     
1944  3,718      96.6    97,214   128.2'     26.58     40.3    .724     
1945  3,752      99.5    105,025    138.5    28.31     40.3    .773     
Jan.  3,706      98.3    99,110   130.7      26.99     39.6    .751     
Feb.  3,665      97.2    98,958     130.5    27.32     39.7    .756     
March 3,744      99.3    100,854  133.0      27.21     39.7    .752     
April 3,646      96.7    100,096  132.0      27.69     39.9    .763     
May   3,646      96.7    99,337   131.0      27.56     39.4    .764     
June  3,627      96.2    101,764  134.2      28.46     40.7    .769     
July  3,578      94.9    103,432    136.4    29.40     41.9    .773     
Aug.  3,537      93.8    100,096  132.0      29.01     41.2    .773     
Sept. 3,680      97.6    105,176    138.7    28.95     40.7    .783     
Oct.  3,816      101.2   109,347  144.2      29.17     40.3    .793     
Nov.  4,004      106.2   115,186    151.9    28.88     40.0    .800     
Dec.  4,374      116.0   127,091  167.6      29.12     4o.l    .796     
1946  5,925      MM      117,461    154.9.   56.54     4M;     >8¿8     
Jan.  ~4; w      M8’.r   .ML        Ì6Ò.9    _           TO             
Feb.                                                                    
March                                                                   
April                                                                   
May                                                                     
June                                                                    
July                                                                    
Aug.                                                                    
Sept.                                                                   
Oct.                                                                    
Nov.                                                                    
Dec.                                                                    
1947                                 ---           ---         ---      
Jan.                                                                    
Feb.                                                                    
March                                                                   
April                                                                   
May                                                                     
June                                                                    
July                                                                    
Aug.                                                                    
Sept.                                                                   
Oct.                                                                    
Nov.                                                                    
Dec.                                                                    

SOURCE: United States Department of Labor, Bureau of Labor Statistics

122

INDUSTRIAL ACTIVITY

Labor Productivity and Unit Labor Cost, by Selected Industry
Selected Manufacturing Industries:-

These series were compiled by the Productivity and Technological Developments Division of the Bureau of Labor Statistics, and published by the Bureau in Productivity and Unit Labor Cost in Selected Manufacturing Industries, 1919-1940« 1942, and in several mimeographed releases on the same subject for the later years«

The productivity (output per manhour) indexes, it is reported in the above named BLS publications, represent revisions and extensions of similar indexes prepared by the National Research Project on Reemployment Opportunities and Recent Changes in Industrial Techniques, a unit of the Works Progress Administration« The original indexes (base 1929 ■ 100) are published in the NRP Report, Production, Employment« and Productivity in 59 Manufacturing Industries« 1919-36» As to the nature of the revisions, the BIS report states:

    The National Research Project indexes were usually accepted to 1933; in no case was any revision made for the period prior to 1929« In general, revision of the 19 6 figures was necessitated by the change from extrapolation to interpolation of the series derived from Census statistics» (The average of the 1935 and 1937 relationships between Census and auxiliary measures was substituted for the 1935 ratio«) Revisions were also made for the earlier years if data used by the Project were revised in more recent publications; if new and preferable series became available or old ones were discontinued; if methods used for the group indexes could be simplified when the extension of component measures was no longer feasible; etc»

The productivity indexes are the quotients of the indexes of production and the indexes of manhours, which are not shown in the handbook but which are fully discussed in the above named BIS publications«

The indexes of unit labor cost were constructed by the BIS, as the quotient of indexes of payrolls (developed bv the BIS) and indexes of production (first developed by the NRP study). When two production indexes were available for an industry group, the index with man-hour weights was used»

Selected Non^nufflowing industries;-

The productivity and unit labor cost indexes for the selected nonmanufacturing industries were constructed by the Productivity and Technological Developments Division of the Bureau of Labor Statistics, and published with explanatory notes in various mimeographed releases» In general, the production series used in the computations were compiled from data published by other agencies, as the Bureau of Mines, for example, for the production series for the mining industries» The manhours and payroll series used were the regular BIS series for these industries« The BIS releases for each industry describe fully the nature and limitations of the various series used in the construction of the indexes«
' •   •     •     WB  «B
     Persons using these series are again cautioned to refer to the BIS releases for more adequate discussions of the subject»


123



                        INDUSTRIAL ACTIVITY



   Labor Productivity and Unit Labor Cost, by Selected Industry

The selected industries for which these data are shown are as follows:


     Manufacturing Industries
     ’ All Industries Combined
         Durable Goods Industries
           Iron and Steel
           Agricultural Implements
           Motor Vehicles, Bodies and Parts
           Nonferrous Metals, Group
             Primary Smelters.and Refineries Lumber and Timber Products: Saw Mills Furniture
           Cement
           Clay Products
         Nondurable Goods Industries
           Cotton Goods
           Woolen and Worsted
           Leather
           Boots and Shoes
           Slaughtering and Meat Packing
           Canning and Preserving Group
           Tobacco
           Paper and Pulp Group
           Chemicals Group
           Paints and Varnishes
           Rayon
           Petroleum Refining
           Coke Group
           Rubber Group
           Tires and Tubes


     Nonmanufacturing Industries
       Bituminous Coal Mining
       Anthracite Coal Mining
       Iron Mining
       Copper Mining
       lead and Zinc Mining                        ₍
       Telephone
       Telegraph
       Steam Railroad Transportation
       Electric Light and Power

124

OUTPUT PER MANHOUR AND UNIT LABOR COST IN SPECIFIED MANUFACTURING INDUSTRIES ♦

NOTE: See p.        122    (indexess            1939 ■ 100)                                          
         All Manufac-      Iron and      Agricultural  Motor Vehicles Nonferrous                     
Tear  turine        Ind,   Steel Group   Implements__  Bodies  & Parts Metals Group                  
      O.P.M.        U.L.C. O.P.M. U.L.C. O.P.M. U.L.C. O.P.M.  U.L.C.     O.P.M.              Ü.L.C.
1919  43.8          179.0   37.5  165.4         fl» «i  35.9   190.8        37.3               199.3
1920      48.3      196.0   47.6  160.7   37.2          39.1   203.1                                
1921  52.7          157.3   43.4  143.9   54.7  172.4   47.9   153.6        41.2               168.1
1922  57.9          133.6   55.6    99.1  31.5          51.6   131.4                                
1923  57.3          149.2   53.6  128.0  50.1   I57.I   58.8   127.6        59.0 133.9              
1924  60.8          147.0   54.4  I4I.2   58.6  139.2   59.6   128.4                                
1925  65.0          137.7   61.8  120.4   52.9  147.I   62.5   124.5        70.1 115.7              
1926  67.2          133.8   63.5  117.1   66.4  122.5   66.1   113.6                                
1927      69.3      130.9   64.4  117.1   62.5  134.7   66.8   117.3        70.1               115.9
1928      72.4      126.8   72.7  105.8   60.7  142.5   70.6   112.2     fl» fl» ■B fl» ■           
1929      75.5      123.0   73.1  105.1   65.2  130.5   84.2   91.2         90.6                 944
1930      77.4      117.1   69.0  114.1   77.4  112.1   89.2   82.3                                 
1931  81.0          104.8   67.1  106.7  54.8   167.2   79.7   91.6        100.7                83.3
1932  78.3          96.0    69.9    99.0  asee          69.3   105.8                                
1933      82.9      88.7    75.2  88.8    25.3   308.0  83.9   76.9         84.6                84.6
1934      86.3      103.1  73.9   107.7                85.2    93.8                                 
1935  91.0          99.5   79.2   102.9   57.5    U3.6  99.4   83.6         78.8               101.6
1936      91.5      98.8   81.7   98.9    83.7  107.6  102.2   84.5                                 
1937  90.3          110.4   83.0  117.6   79.6   140.1 100.5   95.8         91.3               108.3
1938  92.0          107.8   84.9  117.4  116.9    93.7 99.7    99.3         SB«» «»fl»              
1939  100.0         100.0  100.0  100.0  100.0  100.0  100.0   100.C       100.0               100.0
1940  104.8         99.9   97.5   102.5  103.2   100.2 101.4   101.0        92.1               111.6
1941  107.8         108.7                104.1  111.6                            ■   11           I»
1942  i mm.....il ■                                    •»«---»                   ■■■1 1 w           
1943                                                           ---------                            
1944                                                                                                
1945                                                               ••---         •------•           
1946                                                                                                
1947                                                                                                

      * See notes on page 122

Sources United States Department of Labor, Bureau of Labor Statistics

125

OUTPUT PER MANHOUR AND UNIT* LABOR COST IN SPECIFIED MANUFACTURING INDUSTRIES*

NOTE: See p. 122                (Indexes 1939 a 100)                                 
Tear Primary Smelters. Lumber   and      2/              Cement         Clay         
     and Refineries!/ Timber    Products TLZjs2y^iprs-_  O.P.M. U.L.C.  Prpdixstsi/  
           _ D.L.C. O.P.M.      Ü.L.C.   O.P.M. U.L.C.                  O.P.M. JLLC.
1919 45.6  180.9      79.0      147.7    68.4  121.5     43.2  158.8    ' 70.2 119.8
1920 42.7             75.7               56.6  184.0     44.5  190.8    71.6   142.0
1921 54.8  136.8      84.4      118.6    69.6  149.4     51.2  137.3    70.6   123.0
1922 51.0             67.6               71.5  134.9     56.5  149.6    73.5   110.0
1923 58.8  145.0      71.4      134.3    72.4  139.1     55.6  141.1    80.4   121.8
1924 65.4             72.7      134.3    81.2  128.7     56.9  U1.5     76.1   131.4
1925 71.4  117.1      76.5      125.3    84.2  124.0     61.7  131.2    82.2   118.9
1926 76.3             76.4      128.1    86.3  121.9     62.0  126.1    83.0   118.6
1927 80.5  104.6      79.4      124.9    87.6  120.7     64.7  120.8    85.8   115.7
1928 83.9  •••        78.2      126.6    89.7  117.7     67.8  113.3    90.5   110.6
1929 89.5  101.4      82.5      122.0    94.1  113.5     71.7  111.9    88.0   109.8
1930 85.3  --- -.     78.5      127.2    91.9  114.3     74.8  106.0    88.9   110.3
1931 96.1  87.0       90.7      98.9     90.6  109.4     85.7  94.3     91.8   95.3 
1932 80.4  88.4       79.6      88.5     91.1  93.8      83.4  80.0     79.8   89.5 
1933 88.5  77.5       86.1      85.5     86.7  91.9      84.4  85.4     87.8   76.9 
1934 85.1  96.5       89.6      102.5    95.5  96.8      86.0  102.4    78.6   102.3
1935 76.2  99.7       90.9      97.9     94.8  94.2      80.9  107.5     84.3  98.5 
1936 80.5  104.2      85.0      99.9     91.5    98.3    92.1    91.5   84.7   98.6 
1937 87.6  114.0      82.4      109.6    92.4  107.7     89.1  113.4    88.2   108.5
1938 84.7  116.1      87.6      106.0    98.2  103.3     92.2  1Ï0.0    86.8   111.0
1939 100.0 100.0      100.0     100.0    100.0 100.0     100.0 100.0    100.0  100.0
1940 108.0 95.3       111.7     94.9     103.0 100.7     100.4   99.4   103.1  90.8 
1941 103.1 111.5      105.5     110.3                    108.3   98.4   106.4  94.3 
1942 102.3 127.4      98.1      137.6                    108.4 104.8    97.4   111.7
1943 99.4  143.3      95.1      162.7                    94.7  130.3     81.3  147.8
1944 97.4  151.4      96.0      175.1                    83.8  152.0    83.0   151.0
1945 95.9  155.9                                         89.4  146.9    89.2   149.9
1946                                                                                
1947                                                                                

       * See notes on page 122               1/ Nonferrous
       2/ Other than pottery and nonclay refractories





2/ Sawmills

Source: United States Department of Labor, Bureau of Labor Statistics



126

OUTPUT PER MANHOUR AND UNIT LABOR COST IN SPECIFIED MANUFACTURING INDUSTRIES ♦

NOTE: See p.  122             (Indexes 1939 a      100) ______                       
     Cotton          Woolen and    Leather         Boots      and    Slaughtering &  
Tear Goods           Worsted                       Shoes             Meat Packing    
     O.P.M.   U.L.C. O.P.M. UtLtC< . O.P.M. U.L.C. O.P.M.     U.L.C. O.P.M. U.L.C»  
        i                                                                           
1919 58.2     156.4  62.7   124.6  47.0     169.5     64.3    150.3  58.8   141.7   
1920 61.3     201.4  68.7   151.1  44.6     210.8  66.6       174.2  62.1   U9.6    
1921 56.7     157.3  64.I   132.3  57.9     137.4  63.2       171.4  71.9   120.4   
1922 65.0     130.4  64.3   126.3  58.8     124.8  67.1       167.0  76.3   102.7   
1923 65.0     149.3  66.8   130.5  62.2     130.9     62.9    171.4  74.0   106.8   
1924 65.2     146.5  68.1   140.2  62.5     135.9     63.9    169.3  79.4   100.9   
1925 65.9     136.3  73.4   129.4  61.2     135.8  62.8       168.1  78.0   106.8   
1926 62.9     134.0  73.7   124.9  62.8     137.8  68.4       159.5  81.2   104.2   
1927 60.9     136.2  72.4   124.6  66.9     131.4  73.8       146.7  79.8   105.4   
1928   65.5   127.0  72.8   122.8  68.1     128.6     77.6    138.8  79.8   105.0   
1929 68.5     121.6  70.7   123.2  65.9     126.9  77.7       139.5  79.1   105.2   
1930 66.2     126.1  71.2   126.6  66.2     129.1  75.7       137.6  81.3   103.1   
1931   64.3   112.2  77.9   109.2  64.0     127.8     73.5    121.9  88.9   89.8    
1932 70.2     87.4    82.3  89.4   71.2     105.5     79.4    102.4   89.3  76.0    
1933 74.7      95.3   86.3  88.4   74.6     102.4  88.0       94.7   91.6   75.1    
1934 79.0     122.8   95.1  102.9  81.5     109.7     89.6    111.2  81.7   100.9   
1935 85.0     113.5   99.5  95.5   84.7     109.0  97.0       104.9  82.2   106.9   
1936   93.5   101.1  97.8   98.9   84.3     109.9  103.7      96.2   86.2   99.5    
1937   93.5   113.4  96.2   113.7  86.2     116.4  95.7       108.9  83.8   117.5   
1938   93.7   108.6   90.4  115.0  93.4     107.4     99.0    103.2  94.0   107.0   
1939 100.0    100.0  100.0  100.0  100.0    100.0  100.0      100.0  100.0  100.0   
1940 102.5    103.3  * ---  «4V    101.1    101.3  105.6      98.2   102.1  98.1    
1941 102.7    116.2                 110.0   101.8  113.2      102.6  101.2  107.8   
1942 102.2    135.8  100.2  141.7   116.5   110.2  111.8      119.9  96.0   123.3   
1943 100.8    150.5  107.9  146.5  110.7    123.9  111.1      130.8   96.9  131.9   
1944 100.4    161.1  116.4  140.5   114.5   127.8  105.9      146.9  102.3  132.7   
1945 100.7    174.4  118.2  144.3   115.4   132.0  110.6      150.8  111.0  126.4   
1946                                        ------ --- ------               ------  
1947                                                                                

               * See notes on page 122



Sources United States Department of Labor, Bureau of Labor
           Statistics

127

OUTPUT PER MANHOUR AND UNIT LABOR COST IN SPECIFIED MANUFACTURING INDUSTRIES *

NOTE: See p. 122            (Indexes:        1939 s JOO)___________________           
      Canning and                     Paper and     Chemicals           Paints and    
Tear  Preservlng-Group    Tobacco     Pulp Group    Group               Varnishes     
      O.P.M. U.L.C.     O.P.M. U.L.C. O.P.M. U.L.C.  O.P.M.   U.L.C.    O.P.M. U.L.C.
1919  53.7   142.1      39.1   188.6  44.9   156.9    30.0          W«B 53.0   125.5 
1920                    39.8   215.6  47.0   193.1    49.6    ■» *      46.7   181.0 
1921  52.7   140.1      41.7   181.8  47.2   170.1    43.4    «•a»      57.2   136.8 
1922                     44.3  165.9  55.4   132.8    43.5              67.2   107.7 
1923  65.7   122.9      47.4   163.1  58.8   141.8    47.0    136.0     65.2   115.4 
1924  72.2   112.2      50.1   158.1  60.9   144.0    45.9    145.3     62.8   120.3 
1925  68.8   117.6      52.2   152.5  64.3   135.5    51.2    131.4     63.6   118.7 
1926  71.2              56.4   142.0  65.8   132.0    61.1    116.1     59.0   132.9 
1927  67.4   117.5      55.3   139.5  69.7   125.8    64.2    114.8     67.0   121.0 
1928  72.4   •»«        56.2   134.0  73.5   120.7    65.9    112.2     72.6   109.7 
1929  68.4   115.1      63.7   121.7  74.0   120.1    72.1    103.3     71.7   111.5 
1930  76.5   105.7      63.2   116.2  74.5   119.2    72.6    102.8     73.1   113.4 
1931  86.1   96.4       71.0   104.4  85.3   102.3    81.3    93.1       76.5  110.0 
1932  85.0   93.7       67.6   104.3  84.9   89.7     85.6    82.9      70.5   110.2 
1933  97.9   79.0       73.7   102.7  86.9   82.7’    86.7    80.9      70.8   103.8 
1934  93.7   97.6       75.0   105.7  82.4   101.8    75.9    101.2     76.6   107.1 
1935  100.4  92.0       86.7   97.9    87.5  98.2   .84.2     94.0      85.9   97.3  
1936  82.8   104.9      92.2    95.1   91.5  95.0     88.5    93.2      90.0   94.3  
1937  88.7   108.6      90.5   102.9  92.6   105.7    91.3    104.7     91.2   103.0 
1938  95.3   102.5      94.7   102.8  94.5   106.2    89.6    111.7     90.7   108.2 
1939  100.0  100.0      100.0  100.0  100.0  100.0  100.0     100.0     100.0  100.0 
1940  108.6  96.0       100.7  103.6  104.2  99.4     95.8    109.6     100.1  103.2 
1941  110.5  104.9      104.5  105.9  106.7  106.2                      113.8  97.3  
1942  119.2  118.9      104.5  117.8  101.8  124.8                      108.8  111.5 
1943  115.4  141.6      103.5  130.8  94.7   143.4  --------- --------- 109.8  117.5 
1944  116.7  150.1      108.8  136.5  ' 92.7 152.1                      114.1  117.2 
1945  120.8  152.7      118.7  135.5  95.2   152.9                      120.3  115.5 
1946                                                                                 
1947                                                                                 

         * See notes on page 122



Source: United States Department of labor. Bureau of Labor
            Statistics

128

OUTPUT FER MANHOCR AUD UNIT LAB® COST TH SPECIFIED MANUFACTURING INDUSTRIES *


NOTE: See n. 122___________(Indoes: 1939 s 100)__________

Petroleum        Coke                           Rubber      Tires                    
Tear    Rayon     Refining         Group        Group        and Tube? _             
O.P.M. U.L.C. O.P.M. U.L.C. O.P.M. U.L.C.       O.P.M. U.L.C. O.P.M. U.L.C.          
1919   ---   ---    25.5  250.0  49.1 147.0     *e*        <••»          •••      •••
1920   ---   --    ---    ---    50.8  ---      39.2   175.5   23.5  268.3           
1921   ---   ---    29.0  232.0  58.9 133.9     42.6  161.4  26.8 233.5              
1922   ---   ---    ---    ---   69.4           45.3   164.3   30.2 232.4            
1923    23.5  284.4 36.9   177.5   77.8  125.0                                       
1924   23.3 311.2 43.7  148.0  81.1  ---        49.8  154.3   34.7 209.6             
1925    25.3  281.6 48.2   138.9  82.6  98.3    53.0  145.6   39.5  185.9            
1926   32.7  ---   46.0  144.4  89.7  ---       55.8   139.0  40.9  179.6            
1927   28.2 240.9 49.1  134.6  86.7  90.9       60.5   128.8  44.9 163.1             
1928   30.7  ---   57.0  117.5  98.5  ---       63.3   122.4   50.3  145.6           
1929   30.4 233.5  51.7  129.6  92.8  76.1      63.2   124.1   50.5  145.5           
1930   38.2 212.9 49.4  139.2  86.1  ---        69.8  113.7  57.8  130.5             
1931   45.6  153.5 60.3   117.9  75.6  88.4     77.9   98.0  71.9 100.9              
1932   46.8  129.3 64.0  106.9  66.3   ~        87.2   82.8   77.6  85.0             
1933    60.7 106.3 69.0   102.2   74.3   75.5   85.6   83.8   76.9  88.5             
1934   62.2  126.4 69.8  113.0  73.9  ---       90.7   94.5   79.4 103.2             
1935    67.8  119.0 76.4  ,110.5   85.0  83.4   92.8   97.8  86.5  102.8             
1936   72.7 112.4 81.5   106.0  92.3   ---      94.7   97.9  88.4  104.2             
1937   79.4  118.3  86.4   114.5   94.0  87,0   92.7  108.7  88.5  113.5             
1938   87.2  112.6  91.5   111.0  87.9   --     91.8  108.3   92.1 108.8             
1939  100.0  100.0 100.0  100.0  100.0 100.0    100.0  100.0 100.0 100.0             
1940  113.7  92.2 102.9    97.8  104.4   95.4   99.2   102.2 102.9   98.4            
1941  127.2   89.2 107.7   99.7 105.3   95.0                                         
1942   141.3   90.1 101.5   116.1 106.2  100.2                                       
1943   135.5  100.5  94.2   134.2   98.4  111.6                                      
1944   141.5   99.7 95.6   138.3 103.1 112.2                                         
1945   151.0  97.2 94.0   143.7                                                      
1946 ____;________ ______ _____                                                      
1947 _________ _____ ____ ____                                                       

See notes on page 122

Source: United States Department of Labor, Bureau of Labor Statistics



129

            OUTPUT HER MANHOUR AND UNIT LABOR COST, SEIZCTED NONMANUFACTURING INDUSTRIES «

      Bituminous Anthracite                                          Lead and ""Electric Light
Tear £oal_Mi£lng__ Coal Mining fron Mining Copper Minins Zine Mining & ?cw Industry 1/ _ _AM. ^Mt O.PtM. U,C. O.P.M, U.L.C. O.P.M, U.L.C. O.P.M, U,L,C, Jw gH|

1935 82.4   98.9   79.3  110.4    87.7   «MS     97.5   MOW   99.5     MM 1917   42.6  100.5
1936 86.3   100.3  86.2  103.5    98.8   mm      110.2  MS»   93.7     MM 1918      MM MM   
1937 88.1   108.0  87.4  108.2    105.9  «MB     101.0     MM 90.1    wee 1919      MM MM   
1938 92.9   108.2  97.9  104.0    70.2           80.2         97.6        1920      mM MM   
1939 100.0  100.0  100.0 100.0    100.0  100.0   100.0  100.0 100.0 100.0 1921     • • MM   
1940 100.4  99.8   101.1   98.4   118.8   85.3   104.2  101.5 97.2  109.1 1922   45.5  148.0
1941 103.4  109.8  105.7 100.1    119.7  95.7    100.3  114.1 99.2  119.2 1923   50.3       
1942 103.5  118.5  100.4 110.9    110.7  109.1   102.5  128.2 91.1  151.2 1924   48.4       
1943 106.3  125.6  101.2 116.1    101.2  127.0   103.7  UI.9  87.2  172.7 1925   49.7       
1944 112.2  135.9  104.9 123.4    111.2  117.6   113.5  133.8 95.3  167.8 1926   52.5       
1945                                                                                        
1946                                                                      1927   52.0  U3.2 
1947                                                                      1928              
                                                                          1929   53.4  138.5
                                                                          1930   49.6  150.4
                                                                          1931   51.4  144.9
                                                                          1932   57.6  133.2
                                                                          1933   67.3  113.9
                                                                          ! 1934 77.1  111.9
                                  Steam Railroad Transportation           . 1935 82.3  108.2
     Telephone .   Telegraph ,    Hourly         Freight      Passenger   1936   87.4  102.3
Tear Industry *    Industry ^     Employees      Employees    Employees                     
     O.P.M. U.L.C. O.P.M. U.L.C.         U.L,C.                           1937   89.6  105.9
                                                 O.P^M. 0^M’  V           1938   88.9  110.1
1935 88.2   95.4   85.8  99.8     92.7   103.7   87.1   91.5  80.6  89.9  1939   100.0 100.0
1936 91.2   94.5   85.9  99.5     93.4   98.0    89.6   89.5  92.3  91.5  1940   108.6 93.7 
1937 88.8   101.8  91.1  101.7    93.5    98.9   93.5   92.1  99.2  94.3  1941   123.2 85.9 
1938 92.3   103.5  94.4  99.8     98.6   105.3   93.3   97.3  93.5  96.2                    
1939 100.0  100.0  100.0 100.0    100.0  100.0   100.0  100.0 100.0 100.2 1942   145.8 78.1 
1940 103.0  97.9   91.4  105.8    102.5  95.4    103.4  100.8 105.2 101.5 1943   182.7 65.9 
                                                                          1944   191.1 66.1 
1941 99.5   99.5   92.9  109.0    104.2  90.8    108.4  98.8  125.2 104.6 1945              
1942 98.2   103.6  99.3  113.4    108.7  82.8    115.1  94.2  197.9 105.3 1946              
1943 97.9   109.9  101.3 128.8    103.9  83.1    120.0  91.2  279.9 106.8 1947              
1944 99.6   114.2  105.5 130.0    101.2  88.6    120.5  91.5  283.8 105.2                   
1945                                                                                        
1946                                                                                        
1947                                                                                        

  i/ Privately-owned electric light and power utilities, representing in 1944,87 percent of the public supply of power generated*
  £/ Class A telephone carriers and large wire-telegraph carriers which file annual reports with the Federal Communications Commission*
  2/ Car miles per manhour. £/ Payrolls per revenue traffic. ¿/ Revenue freight ton miles per manhour. £/ Freight-train car miles per manhour. 2/ (Revenue passenger miles per manhour. 8/ Passenger-train car miles per manhour.
  * See notes on page 122




  Source: United States Department of Labor, Bureau of Labor Statistics


697283 0—48------9

130

INDUSTRIAL ACTIVITY

Corporation Profits

         The Bureau cf Internal Revenue series is compiled by this Bureau and appears annually in the Bureau¹ s publication Statistics of Income* It represents essentially the statutory concepT*'7)Ir'proI^ in the publication by the ’’Compiled Net Profits” series. This series is derived as the difference between statutory receipts and statutory deductions# This series reflects the profits as reported by corporations at the time tax returns were filed and. does not take into account subsequent renegotiation refunds or additional tax payments# Renegotiation refunds were particularly significant during the war years# In order to avoid duplication the ^Compiled Net profits” series shown in the Handbook has been adjusted to exclude domestic intercorporate dividends#

         The Department of Commerce series is compiled by the Bureau of Foreign and Domestic Comnerce, and published at irregular intervals in the Survey of Current business# This series shows the profits which accrue to industry in the creation of actual products# Thus, no account is taken of capital gains or losses, changes in inventory values due to price changes, and receipt of domestic or foreign dividends except those received by mutual life insurance companies. In addition, adjustments are made for renegotiation refunds, as well as other minor items# A full discussion of this series is contained in the April, 19^6 issue of the Survey of Current Business# A breakdown by major industry group is also shown#

         It should be noted that this series is the latest revision made by the Commerce Department# It therefore differs somewhat from the estimates of profits shown as a component of the national income# The national income series have not as yet been revised.


131

           CORPORATION PROFITS, BEFORE AND AFTER TAXES ,           
 ____________________(Billions _.of Dollars)_______________________
     Bureau of Internai                Department of            
Tear Revenue Sériés                    Commerce Selles y        
     Before Taxes       After Taxes Before Taxes     After Taxes
1918     $ 7.8    ‘       4 4.7          ---            ---     
1919 8.6                6.4          $ 7.9           $ 5.7      
1920 6.1               4.5            5.5             3.9       
1921   .6                 -.1              .7               .0  
1922 5.2               4-4           4.7            3.9         
1923 6.8               5.8           6.1            5.2         
1924 5.9               5.0           5.2            4.3         
1925 8.1               7.0           6.7            5.5         
1926 8.0               6.8            7.0            5.8        
1927 7.0               5.9           6.2             5.1        
1928 8.8               7.6          -7*5- - - --- - -¿#3.       
1929 9.3                8.1            9.8             8.3      
1930 2.1               14           3.2            2.3          
1931 -2.7              -3.1           -.8           -1.4        
1932 -5.1               -5.4           -3.1            -3.5     
1933 -2.0               -2.4              .1            - -4    
1934   .8                  .2             1.6               .9  
1935 2.4                1.7           3.1            2.2        
1936     5.1               3.9           5.6            4.1     
1937 5.1               3.9           6.1            4.6         
1938 2.3                1.5            3.2             2.1      
1939     5.3               4.0           6.4            4-9     
1940 7.3               4.8           9.2            6.2         
1941 14.4                 7.3           17.1        '     9.1   
1942 22.0                9.8        ’   21.0             9.2    
1943 26.8               10.9          24.9            9.9       
1944 ____               ____ ‘ 24.1             9.8             
1945 ____    .                          20.9            9.1     
1946                                                            

V Compiled Net Profits: Intercorporate dividends are eliminated to avoid duplication of profits
2/ Includes net dividends from abroad» While the Commerce national income concept differs from the Bureau of Internal Revenue concept in several ways, the main difference arises from the exclusion from Commerce figures of capital gains and losses. Differences also occur in 1942 and 1943 because of tax refunds on renegotiations, for which Commerce makes adjustments, but Bureau of Internal Revenue does not. ¿/ Data,for 1929 and later years are latest revisions and are not strictly comparable with data for earlier years
Source: United States Treasury Department and United States Department

   of Commerce


132

CORPORATE PROFITS BEFORE AND AFTER FEDERAL AND STATE INCOME AND EXCESS PROFITS TAXES BY MAJOR INDUSTRY DIVISIONS

NOTE: See p»  130                                 (ifi. Ilions of Dollars)                                     
      All Private Industries   Agri-                                       Fi-                Commu-          
      Including & Excluding    culture.    »      Con-                     nance,   Trans-    nica-           
      Net Dividends            Forest-     Min-   tract  Manu-    Whole-   Insur-   por-      tion &      Ser-
Year  From Abroad              ry and      ing    Con-   fac-     sale &   ance,    ta-       Public     vi-  
      Inclu-  Divi-    Exclu-  Fish-              struc- • turing Retail   & Real   tion      Utili-     cesi/
      ding    de nd s  ding    eries              tion            Trade      Estate           ties            
                       Before Federal and State   Income and Excess Profits Taxes   ; . _ . -                 
1929  ♦ 9,770 $ 8$     * 9,685 1 20        $ 466  1 121   1 5,045 $ 778    ♦1,123   ♦1,056    ♦ 925      ♦ 151
1930  3,225   22       3,203   -35         125        93    1,710 -15            94 433       715           83
1931     -846 -41       -805   -68         -122        1     -271   -415   -385     -96       587        -36  
1932  -3,100  -46      -3,054  -69         -89    -88      -1,290 -726     -730     -330      451        -183 
1933       99 -24        123   -29         -12       -51      843       86 -747     -241      383        -109 
1934  1,643   6        1,634   -28         179    -27       1,393 411'     -673     -162      558          -17
1935  3,141   56       3,085   16          195         0    2,240 546      -402     -86       569            7
1936  5,597   -12      5,609   28          322        27    3,614 914      -95             93 661           45
1937  6,126   7        6,119   14          469        42    3,718 817      151             57 785           66
1938  3,151   113      3,038   -7          219        28    1,603 402      196      -178      728           47
1939  6,374   133      6,241   9           318        32    3,716 839      223      160       870           74
1940  9,185   136      9,049   24          442        70    5,608 1,119    338      332       1,012        104
1941  17,050  74       16,976  63          622    188      11,151 2,183    499      910       1,171        189
1942  20,969  81       20,888  82          613       314   12,637 2,606    853      2,078     1,360        345
1943  24,908  70       24,838  116         586       245   14,900 3,132    1,117    2,706     1,506        530
1944  24,077  76       24,001  133         700    162      14,129 3,387    1,198    2,276     1,479        537
1945  20,875  60       20,815  145         685    187      10,917 3,678    1,320    1,741     1,572        570
1946          . ---.           ......---            ---_                            --------- ---A------      
1947                                                                                                          
                                       Income and Excess Profits Taxes - -- -- -- -- --       
1929   8,337  85  8,252    13    416   102         4,392 648         829  919   812       121
1930   2,348  22  2,326  -39     loi   75          1,318 -95         -63  359   611        59
1931   -1,365 -41 -1,324 -69    -130   -8           -487        -475 -472 -132  496       -47
1932   -3,489 -46 -3,443 -70     -97   -92        -1,426 -768        -798 -357  357      -192
1933    -444  -24  -420  -31     -23   -55           576           6 -809 -269  303 -118     
1934   866     6  860    -33     154   -32         1,047 288         -776 -212  457       -33
1935   2,188  56  2,132  8       168   -9          1,776 404         -535 -138  469       -11
1936   4,150  -12 4,162  18      279   14          2,874         702 -299    21 536        17
1937   4,575   7  4,568  5       404   26     2,923      611         -52  -20   635        36
1938   2,069  113 1,956  -12     183   15          1,129 257         27   -238  578        17
1939   4,868  133 4,735  2       272   18          2,941 635         61      70 695        41
1940   6,248  136 6,112    13    364   44     3,818      777         109  179   748        60
1941   9,141  74  9,067  38      463   97          5,695 1,228       137  570   733       106
1942   9,179  81  9,098    40    404   113         5,047 1,140       421  1,086 694       153
1943   9,945  70  9,875    50    410   75          5,474 1,277       621  1,040 725 203      
1944   9,757  76  9,681    55    535   61          5,273 1,374       696  791   688       208
1945   9,080  60  9,020    57    538   66          4,491       1,456 791  698   703       220
1946   ---    --- ---    ------ ------ ------ ---------- . .........            --- ---------
1947 '                                                                                       

2/ The following service industries are emitted from the table either because there are no corpora* tions in the industry or because corporate profits before Federal and State income and excess profits taxes are zero in all years: Private households, medical and other health services, legal services, engineering and other professional services, n.e.c., educational services, n.e.c., religious organizations, and nonprofit membership organizations, n.e.c»
SOURCE: United States Department of Comrerce, Bureau of Foreign and Domestic Commerce

133

NET WORKING CAPITAL OF UNITED STATES CORPCRATIONS* (Billions of Dollars)

End of   All                         
Tear     United       63 Large       
and      States       Manufacturing  
Quarter  Corporations Corporations 1/
1939     ♦ 21u6            ♦ 5.2     
Mo       27.5                        
Ml       32.1               5.9      
M2       36.1         ■1             
M3       111.3              7.5      
MU                          8.1      
I Qtr.   1*2.6        m              
H Qtr.   113.7        «B             
m Qtr.                OB             
IV Qtr.  1(5.5        WB             
M5                                   
I Qtr.   46.8                        
H Qtr.   1*8.0              84       
HI Qtr.  50.9                        
IV Qtr.                              
M6                                   
I Qtr.                               
II Qtr.                              
HI Qtr.                              
IV Qtr.                              
M7                                   
I Qtr.                               
II Qtr.                              
Ill Qtr.                             
IV Qtr.                              

             y Corporations with assets of $100,000>000 or more* classified by assets size at the end of l?hl.

             SOURCE: Securities and Exchange Commission

   * The net working capital series is compiled by the Securities & Exchange Commission« It represents the difference between current assets and current liabilities reported by 1,271 domestic corporations registered with the Commission« Only registered corporations are included in the series5 they are generally the larger corporations« These corporations áre on a consolidated basis«

    All types of industries, except banks, insurance and investment companies are represented, viz., agriculture, manufacturing, mining, public utilities, trade, service, construction, and finance*


134

INDUSTRIAL ACTIVITY

Labor Turn-Over Hates in Manufacturing Industries

   These series are compiled by the United States Department of Labor, Bureau of Labor Statistics, and published monthly in the Monthly Labor Review. Quit, discharge, lay-off, military and miscellaneous, total separation, and accession rates per 100 employees are shown. A definition of terms and a statement on the method of computation of the various rates appear in the September 1940 issue of the Monthly Labor Review, as follows:

  Definition of Terms:
      An accession is the hiring of a new employee or the rehiring of ah old employee. A separation is a termination of employment of any of the three following kinds: Quits, lay-offs, and discharges.

      A quit is a termination of employment, generally initiated by the worker because of his desire.to leave, but sometimes due to his physical incapacity.

      A discharge is a termination of employment at the will of the employer, with prejudice to the worker because of some fault on the part of the worker.

      A lay-off is a termination of employment at the will of the employer, without prejudice to the worker. A permanent lay-off, a long lay-off, an indefinite lay-off, and a short, definite lay-off with the name of the worker removed from the pay roll are counted by the Bureau as lay-offs) but a short, definite lay-off with the name of the worker remaining on the pay roll is not counted as a separation. (It is recognised that some companies retain persons on the pay roll and give them extended vacations when business is slow; other companies take them off the pay roll but promise to reemploy them when there is work. This variation in policy interferes with complete comparability in the monthly reports received from the con-panies and causes some distortion of the general lay-off rate.)

      Transfers from one plant to another of the same company are not considered accessions or separations.

      A military separation is a termination of employment of a worker to enter the armed forces or women's auxiliaries (voluntary enlistment or selective service).

      A miscellaneous separation is a termination of employment due to permanent disability, death or retirement on pension. (These separations currently comprise not more than 0.1 in the figures for the group "Military and Miscellaneous." In 1939 they were included with quits) •


135

INDUSTRIAL ACTIVITY

              Labor Turn-Over Rates in Manufacturing Industrie (continued)



   Method of Computation

       The Items of separation and accession are divided by the average number on the pay roll and multiplied by 100 to get the rate per 100 employees for the month. In compiling the rates the actual numbers for the several establishments are added and the general rates computed from the grand total» Thus, each establishment has an influence or "weight” in the rate in proportion to its size»

       If an equivalent annual rate is desired, the monthly rate can be multiplied by 11.77 if the month has 31 days; by 12.17 if it is a 30-day month; by 13.04 if it is a 28-day month; and by 12»62 if it is a 29-day month»

       In comparing monthly rates the number of days in the month should be considered, as no adjustment is made in the monthly rate because of the number of its days. With the adjustment in the equivalent yearly rate this latter figure affords a more exact comparison as between months»


136

        ANNUAL AND MONTHLY LABOR TURN-OVER RATES               
    (Per 100 Employees) IN MANUFACTURING INDUSTRIES            
NOTE: Se< sp. 134  ____________________                        
Year                                                          
and       Accessions                                  Military
Month                Total  Quits Discharges Lay-Offs & Mise. 
1930      37*0       59.6   18.6  5.o        36.0     N.A.    
1931      36.6       1*8.1* n.4   2.7        34.3     N.A.    
1932      39.8       52.0   8.3   2.0        41.7     N.A.    
1933      65.2       1*5.4  10.7  2.5        32.2     N.A.    
1931»     56.9       49.2   10.7  2.2        36.3     N.A.    
1935      50.0       42.7   10.4  2.3        30.1     N.A.    
1936      52.2       4o.4   13.0  2.6        24.7     N.A.    
1937      42.6       53.1   15.0  2.4        35.8     N.A.    
1938      46.2       49.2   7.5   1.3        40.5     N.A.    
1939      1*8.9      37.7   9.5   1.5        26.7     N.A.    
Aug.      5.1        3.0       .8 .1         2.1      N.A.    
1940      52.7       40.3   10.9  1.8        25.9     1.6     
1941      64.5       46.7   23.6  3.0        15.9     4.2     
Jan.                 3.4    1.3   .2         1.6         .3   
Dec.      4.8        4.7    1.8   .3         2.2         .5   
19h2      91.6       77.7   45.1  4.7        12.9     15.0 •  
May       7.3        6.5    3.8   •4         1.4      1.0     
Sept.     9.2        8.1    5.2   .4         .7       1.8     
Oct.      8.7        7.9    4.6   .4         .8       2.0     
191*3     89.6       87.2   62.3  7.1        7.0      10.8    
May       7.2        6.7    4.8   .6         .5       .8      
191*1*    73.2       81.8   61.0  7.7        7.2      5.9     
Jan.      6.5        6.7    4.6   .7         .8       .6      
Feb.                 6.6    4.6   .6         •8          .6   
March     5.8        7.4    5.0   •7         .9       .8      
'April    5.5        6.8    4.9   .6         •6       .7      
May       6.4        7.1    5.3   .6         •5       .7      
June      7.6        7.1    5.4   .7         .5          .5   
July      6.3        6.6    5.0   .7         .5          .4   
Aug.      6.3        7.8    6.2   .7         .5          .4   
Sept.     6.1        7.6    6.1   .6         .6       .3      
Oct.      6.0        6.4    5.0   .6         .5       .3      
Nov.      6.1        6.0    4.6   .6         .5       •3      
Dec.      5.1        5.7    4.3   .6         .5       .3      

137

     ANNUAL AND MONTHLY LABOR TURN-OVER RATES             
  (Per 100 Employees) IN MANUFACTURING INDUSTRIES         
NOTE: See p. 134                                          
Year                         SEPARATIONS                 
and   Accessions                                 Military
Month            Total Quits Discharges Lay-Offs & Mise. 
MS    75.7       99.6   60.9    7.3     27.7       3.7   
Jan.  7.0        6.2   4.6       .7     .6          .3   
Feb.  5.0        6.0   4.3       .7     z .7        .3   
March 4.9        6.8   5.0       .7     .7               
April 4.7        6.6   U8        .6     .8               
May   5.0        7.0 . U.S       .6     1.2              
June  5.9        7.9   5.1       .7     1.7              
July  5.8        7.7   5.2       .6     1.5              
Aug.  5.9        17.9  6.2      .7-     10.7        .3   
Sept. 7.4        12.0  6.7       .6     h.5         •2   
Oct.  8.6        8.6   5.6       •5     2.3         .2   
Nov.  8.7        7.1   4.7       .5     1.7         •2   
Dec.  6.9        5.9   4.0              1.3      .2      
w                6,8                                     
Jan.             -&»L                                    
Feb.                                                     
March 6.8                               1.8              
April                                                    
May                                                      
June                                                     
July                                                     
Aug.                                                     
Sept.                                                    
Oct.                                                     
Nov.                                                     
Dec.                                                     
w                                                        
Jan.                                                     
Feb.                                                     
March                                                    
April                                                    
May                                                      
June                                                     
July                                                     
Aug.                                                     
Sept.                                                    
Oct.                                                     
Nov.                                                     
Dec.                                                     

SOURCE: United States Department of Labor, Bureau of Labor Statistics

138

INDUSTRIAL ACTIVITY


                                  Industrial Disputes


          These series relating to work stoppages shown in the Handbook are compiled by the United States Department of Labor, Bureau of Labor Statistics, and published monthly in the Monthly Labor Review# A rather complete discussion of the nature and method of collection of the data appears in the May 1945 issue of the Monthly Labor Re* v^eg, aa ®xc*rpt from which followss

              The Bureau's statistics include all known strikes and lockouts in continental United States, which involve as many as six work* ers and last as long as full day or shift. They include all workers in the plant who were made idle beeause of a dispute, but do not include workers or idleness in other plants which may have been indirectly affected. For example, if a small number of maintenance workers in an automobile assembly plant strike and thus cause the entire plant to close, all workers in the plant are counted as involved in the stoppage# However, if an automobile assembly plant is forced to curtail production because it cannot obtain needed parts from another plant on strike, idleness in the assembly plant is not counted. This is primarily because it is Impossible to obtain consistent and accurate information concerning the indirect and secondary effects of stoppages# The present statistics are limited to basic figures which can be obtained uniformly and accurately month after month, so that information in different periods will be comparable and will reflect accurate trends#

              Initial information concerning labor disputes is obtained fTon notices appearing in about 400 daily newspapers from all parts of the country and more than 250 labor and industry papers and journals, as well as records from Federal and State agencies which deal with employer-employee disputes# Upon receipt of the notices, detailed questionnaires are sent to the companies, unions, and impartial agencies involved in each work stoppage to get first-hand and verified information#


139

WORK STOPPAGES IN THE UNITED STATES: ANNUAL DATA

Work Stoppages            Workers involved          Man-days idle              
Average                   Percent              Percent     Per                 
Year Number Duration      Number 1/ of Total Number of Avail-  Worker          
(Calendar                 Em-                 able Work- In-                   
Days)                     ployed 2/           ing Time 3/ volved               
1914   1,204                                                                   
1915    1,593                                                                  
1916 1/ 3,789             1,599,917    8.1*                                    
1917   W50                1,227,251*    6.3                                    
1918    3,353             1,239,989    6.2                                     
1919    3,630             1*,160,31*8   20.8                                   
1920    3,411             1,1*63,051*    7.2                                   
1921    2,385             1,099,21*7     6.1*                                  
1922    1,112             1,612,562    8.7                                     
1923    1,553             756,581*    3.5                                      
1921»     1,21*9          651*,61*1    3.1                                     
1925    1,301             1*28,1*16    2.0                                     
1926    1,035             329,592    1.5                                       
1927      707    26.5     329,939    1.1*    26,218,628    0.37      79.5      
19 28       601*    27.6  314,210    1.3    12,631,863     .17      1*0.2      
1929      921    22.6     288,572    1.2     5,351,51*0     .07      18.5      
1930      637    22.3     182,975     .8     3,316,808     .05      18.1       
1931      810    18.8     31*1,817    1.6     6,893,21*1*     .11      20.2    
, 1932      81*1    19.6  321*,210    1.8    10,502,033      .23      32.1*    
1933    1,695    16.9     1,168,272    6.3    16,872,128     .36      ll*.l*   
1931*    1,856    19.5    1,1*66,695    7.2    19,591,91*9     .38       13.1* 
1935    2,011*    23.8    1,117,213    5.2    15,1*56,337     . 29      13.8   
1936    2,172    23.3     788,61*8    3.1    13,901,956     .21      17.6      
1937    l*,71*0     20.3  1,860,621    7.2    28,1*21*,857      .1*3       15.3
1938    2,772    23.6     688,376    2.8     9,11*8,273     .15      13.3      
1939    2,613    23.1*    1,170,962    1*.7    17,812,219     . 28      15.2   
191*0    2,508    20.9    576,988    2.3     6,700,872     .10      11.6       
191*1    I*, 288     18.3 2,362,620    8.1»    23,01*7,556     .32       9.8   
191*2    2,968    11.7    839,961    2.8     4,182,557     .05       5.0       
191*3    3,752     5.0    1,981,279    6.9    13,500,529     .15       6.8     
191*1*    1*,956      5.6 2,115,637    7.0     8,721,079     .09       4.1     
191*5    l*,75O      9.9  3,467,000   12.2    38,025,000     .47      11.0     
191*6__                                                                        
1947 _______ ______                                                            

  1/ The number of workers involved in some strikes which occured from 1916 to 1926 is not known. However, the missing information is for the smaller disputes and it is believed that the totals here given are fairly accurate
  2/ See footnote 1 on table for Monthly Data.
  3/ See footnote 2 on table for Monthly Data.


  SOURCE: United States Department of Labor, Bureau of Labor Statistics.



140

                 WORK      STOPPAGES IN THE UNITED STATES: MONTHIY DATA                     
NOTE; See p« 138                                                                            
           Number of       Workers Involved in Work Stoppages   Man-days Idle During Month   
Year  Work Stoppages                   In Effect During Month   -          Percent of       
and   Begin-     In effect Begin-                Percent                   Available        
Month ning in    During    ning in     Number    of Total       Number     Working          
      Month      Month     Month                 Employed 1/               Time 2/          
1945                                                                       . ILrJL^_ 11 L. .
Jan«  234        265       46,700         55,300 .19            199,000           .03       
Feb.  279        313       111,000   118,300     •41            388,000           .06       
Mar«  362        422       196,900   226,500     .78            775,000    .10              
Apr«  431        486       305,500   327,400     1.13           1,472,000  .20              
May   433        517       332,700   358,200     1.24           2,219,000         .29       
June  482        576       331,600   382,500     1.32           1,886,000         .25       
July  523        611       325,000   413,000     1.44           1,769,000         .24       
Aug«  447        586       270,900   354,300     1.24           1,712,000         .24       
Sept« 573        730       525,600   610,900     2.26           4,341,000         .73       
Oct.  474        737       550,500   851,700     3.15           8,611,000  1.39             
Nov«  358        619       420,200   660,400     2.40           6,935,000  1.20             
Dec«  134        367          5O,4oo 503,900     1.82           7,718,000  1.39             
1946                                                                                        
Jan«  325        5oo       1,400,000   1,750,000                19,200,000 3.13             
Feb.  260        460       130,000     1,430,000                21,500,000 3.94             
Mar.  385        655       130,000     1,000,000                14,000,000 2.42             
Apr.                                                                                        
May                                                                                         
June                                                                                        
July                                                                                        
Aug.                                                                                        
Sept.                                                                                       
Oct.                                                                                        
Nov«                                                                                        
Dec«                                                                                        
1947                                                                                        
Jan«                                                                                        
Feb.                                                                                        
Mar.                                                                                        
Apr.                                                                                        
May                                                                                         
June                                                                                        
July                                                                                        
Aug.                                                                                        
Sept«                                                                                       
Oct«                                                                                        
Nov.                                                                                        
Dec.             ------                          __«                                        

¿/ "Total employed workers" as used here refers to all workers except those in occupations and professions in which there is little if any union organization or where strikes rarely if ever occur« In most industries it includes all wage and salary workers except those in executive# managerial# or high supervisory positions or those performing professional work the nature of /vihich makes union organization or group action impracticable« It excludes all self-employed# domestic workers# agricultural wage workers on farms employing less than 6# all Federal and State government employees# and the officials# both elected and appointed# in local, governments« y Available working time was confuted for purposes of this table by multiplying the average number of employed workers each year by the number of days worked by most employees during the year«






SOURCE: United States Department of labor# Bureau of Labor Statistics«

Ml

AGRICULTURAL ACTIVITY


                           Fara Production

 These series are compiled by the United States Department of Agriculture, Bureau of Agricultural Economics» The index of farm or agricultural production represents the volume of agricultural commodities sold by farmers plus the amount consumed by farm households« The index is computed as the weighted average of the volume of the various farm commodities, the weights being the average price per unit in the base period, 1935-39« Total production is separated into two major groups, production of 2£2E£* ancTproduction of livestock and livestock products« These indexes, together with varioujF'suE^groupsJ^^                 annual
 basis by the Bureau of Agricultural Economics in selected issues of the Farm Income Situation«

Farm Income

 The farm income series are compiled by the Bureau of Agricultural Economics, United States Department of Agriculture« The series are fully discussed in two of the Bureau’s mimeographed releases, “Materials Bearing on Parity Prices”, issued in July 19U1 and “Net Farm Income and Income Parity Summary, 191O-U2“, issued in July 1943* In these publications, gross farm income is defined as the value of all products and services becoming available for consumption on farms during the calendar year, which includes cash income from farm marketings, Government payments, the value of products retained for human consumption on farms where grown, and the rental value of farm homes«

 Cash farm income includes all of the receipts from the sale of farm products whether they are sold by farm operators or by landlords owning farm land«

 Aggregate net income of farm operators is the sum of (1) cash farm mar-ketlngs* ad justed for changes in inventory, (2) government payments, (3) value of farm-produced goods consumed by the farm household, and (4) rental value of the farm home, less (1) cash farm operating expenses, corrected for depreciation, and (2) perquisites to hired labor. The index of net income of farm operators is computed from the above series by O.P«A.

 Net income per farm is calculated by dividing the above aggregate net Tncome^oT^TaSr^erators by the number of farms as estimated by the Bureau of Agricultural Economics.

 The Bureau of Agricultural Economics farm income series differ from the Department of Commerce series on net income of agricultural proprietors, discussed in the section on National Income, in two respects as pointed out in the June 1910 Surve^jtfjCi^^


AGRICULTURAL ACTIVITY



Farm Income (Continued)

    as follows:

         The Commerce estimates exclude, and the Agriculture estimates include, the net (imputed) rental value of owner-occupied farm dwellings; and the Commerce Department series, covering the activities of only owner-operators and tenants, defines net rent accruing to landlords living on farms as a component of total net rents rather than of net income of farm operators«

    Shown in the Handbook are the series cash income from farm marketings excluding and including government payments, and net income of farm operators«


Farm Employment and Wage Rates

    These series are compiled by the Bureau of Agricultural Economics, United States Department of Agriculture, and published monthly in the Bureau's publication, Farm-Labor«

    The estimates of farm employment — family workers, hired workers and total farm employment — are based on monthly returns received by the Bureau from crop reporters in the States, adjusted to Census levels, and are as of the first of the month« The estimates include all persons employed on farms two or more days during the work week just prior to the inquiry, excluding persons doing housework« Family workers include the operator and those members of his family who are not paid wages« Hired workers include all persons paid wages for farm work, whether by month, day, or piece work«

    The BAE series differs from the agricultural employment series compiled by the Bureau of the Census in the following respects:
         1« The BAE series includes, and the Census series excludes, workers under 14 years of age«
         2« The BAE series includes all workers employed on the farm at least two days during the enumeration week even though the majority of their employment was in nonagricultural pursuits« The Census series includes only workers the majority of whose employment was agricultural work during the enumeration week, without reference to the number of days worked«
         3« The BAE series excludes, and the Census series includes, workers employed in some food processing.

    The estimates of monthly farm wage rates are based on a quarterly inquiry made by the Bureau, and are as of the first day of the calendar quarters« The monthly rates shown quarterly in the Handbook are composites of the four classes of wage rates (per month, with and without board, and per day, with and without board)« Similarly, the annual rates shown are weighted averages of the monthly rates for the quarters« In general, employment weights are used«


243

NCTEs See p.  141      FARM PRODUCTION AND FARM INCOME                                                  
                                                               Farm Incane                             
                                     Cash Income from Marketings                                       
          ran« rx-paucbion       Exdt Gov ^ t e Hoymon'ts  Including    Net Income of Operators         
Year                             Index:                    Gov’t.       Index:   Total         Amount  
       (Index: 1935-39 = 100)    (1935-39  Amount          Payments     (1910-14 Amount        per     
      Total   Crops    Livestock « 100)    ($ Millions)    ($ Millions) ■ 100)   ($ Millions)  Farm    
1910  79      82       77        72.7      $ 5,793              $ 5,793 103.9    $ 3,904       $ 614   
I9II  83      85       81        70.2      5,596           5,596        89.6     3,368         527     
I9I2  85      94       80        75.5      6,017           6,017        100.2    3,767         586     
1913  81         84    80        78.4      6,248           6,248        101.4    3,812         591     
1914  86      99       78        75.9      6,050           6,050        104.9    3,944         609     
1915  86      95       81        80.3      6,403           6,403        101.6    3,818         586     
1916  83      81       84        97.2      7,750           7,750        117.6    4,421         674     
1917  86      88       84        134.8     10,746          10,746       200.4    7,532         1,152   
1918  90      92       89        168.8     13,461          13,461       231.8    8,713         1,336   
1919  91      91       90        183.1     14,602          14,602       234.1    8,799         1,360   
1920  92      102      85        158.1     12,608          12,608       189.6    7,126         1,105   
1921  83      80       86        102.2     8,150           8,150        79.5     2,990         460     
1922  91      90       91        107.8     8,594           8,594        108.4    4,075         626     
1923  94      91       97        119.9     9,563           9,563        126.8    4,767           745   
1921s 98      96       99        128.2     10,221          10,221       125.5    4,716         743     
1925  97      99       96        137.9     10,995          10,995       159.9    6,010         943     
1926  100     105      97        132.5     10,564          10,564       152.3    5,724         903     
1927  98      96       98        134.9     10,756          10,756       144.9    5,447         870     
1928  102     106      100       138.9     11,072          11,072       155.1    5,831         930     
1929  99      98       99        141.7     11,296          11,296       156.4    5,878         934     
1930  98      96       99        113.1     9,021           9,021        115.5    4,340         690     
1931  102     104      100       79.9      6,371           6,371        77.0     2,894           453   
1932  96         92    99        59.5      4,743           4,743        49.8     1,872         287     
1933  96         85    303       66.6      5,314           5,445        69.8     2,625         391     
1934  93      72       106       79.4      6,334           6,780        82.4     3,099         • 458   
1935  91      89       93        88.9      7,086           7,659        120.3    4,522         663     
1936  94      82       101       104.9     8,367           8,654        125.9    4,731         712     
1937  106     117      98        111.1     8,850           9,217        142.4    5,352         828     
1938  103     105      102       96.4      7,686           8,168        115.2    4,332           *685  
1939  106     107      306       98.8      7,878           8,685        121.5    4,566         735     
19b0  110     107      112       104.6     8,343           9,109        126.8    4,767         782     
1941  113     109      U5        139.9     11,157          11,742       179.6    6,753         1,146   
1942  124     121      126       192.1     15,316          16,013       271.3    10,197        1,777   
1943  128     114      137       242.6     19,342          20,014       334.4    12,571        2,257   
w     136     128      141       253.8     20,238          21,042       323.5    12,159        2,211   
1945  132 2/  ' 123 2/ ' 138 2/  260.6     20,781          21,551       343.0 2) 1   12,900 2/ 2,345 2/
w                                --------- ------------    ---                   --------- .           
M7                                                                                                     

V Adjusted for inventory changes«
3/ Estimates based on December 1945 data«








SOURCES United States Department of Agriculture, Bureau of Agricultural Economics

NQTE:_ See p. 142       FARM EMPLOYMENT AND MONTHLY WAGE RATES                                     
                        Farm Employment                                   Farm Wage Rates          
Year    Number in Thousands     Seasonally Adjusted index (1910-14=100)             Seasonally Ad-
and    All Farm Family  Hired   All Farm Family               Hired       Amount    justed Index  
Month  Workers  Workers Workers Workers  Workers              Workers     (Dollars) (191O-1U-1O0) 
1910   12,146   9,269   2,877   101      101                  99          $ 23.93   97            
1911   12,042   9,172   2,870   100      100                  99            24.15   98            
1912   12,038   9,149   2,889   100      100                  100           24.98   101           
1913   12,033   9,128   2,905   100      100                  100           25.59   103           
2911»  12,000   9,081   2,919   100      99                   101           25.13   101           
1935   11,981   9,047   2,934   99       99                   101           25.41   103           
1916   12,016   9,050   2,966   100      99                   103           27.93   U3            
1917   11,789   8,856   2,933   98       97                   101           34.79   141           
1913   11,348   8,507   2,841   94       93                   98            43.73   177           
1919   11,106   8,322   2,784   92       91                   96            51.13   207           
2920   11,362   8,479   2,883   94       93                   100           59.88   242           
1921   11,412   8,511   2,901   95       93                   100           38.29   155           
1922   H,443    8,528   2,915   95       93                   101           37.47   151           
1923   11,385   8,491   2,894   94       93                   100           41.87   169           
192k   11,362   8,488   2,874   94       93                   99            42.91   173           
1925   11,848   8,577   2,871   95       94                   99            43.51   176           
1926   11,534   8,507   3,027   96       93                   105           44.36   179           
1927   11,246   8,296   2,950   93       91                   102           44.36   179           
1928   11,379   8,340   2,956   94       91                   102         44.28     179           
1929   11,289   8,305   2,984   94       91                   103           44.52   180           
1930   11,173   8,323   2,850   93       91                   99            41.25   167           
1931   11,159   8,469   2,690   93       92                   93          32.11     130           
1932   11,069   8,571   2,498   92       94                   86            23.66   96            
1933   11,023   8,590   2,433   91       94                   84          21.10     85            
1934   10,852   8,506   2,346   90       93                   81          23.61     95            
1935   11,131 ’ 8,702   2,429   92       95                   89            25.53   103           
1936   11,047   8,486   2,561   92       93                   91          27.51     111           
1937   10,892   8,261   2,631   90       90                   91            31.25   126           
1938   10,789   8,169   2,620   90       89 •                 90          30.91     125           
1939   10,740   8,145   2,595   89       89                   90            30.56   123           
Aug.   11,359   8,296   3,063   89       89                   90          » as      OB BB         
1940   10,585   8,019.  2,566   88       88                   89          31.28     126           
1941   10,361   7,829   2,532   86       ,             85     88            38.14   154           
Jan.*  8,428    6,'807  1,621   87       86                   9Q            30.73   129           
Dec.   9,428    7,113   2,315   86       86                   86           --- SB   «B M          
1942   10,397   7,855   2,542   86       86                   88            49.80   201           
May    10,796   8,399   2,397   88       88                   88          • SB      * BB          
Sept.  11,390   8,191   3,199   85       83                   90          --- «B    * BB          
Oct.   11,921   8,653   3,268   84       85                   83            54.39   220           
1943   10,263   7,857   2,406   85       86                   83          65.35     264           
May    10,492   8,248   2,244   85       85                   84          --- ---   --- ---       
19Ul   10,037   7,810   2,227   83       85                   77          78.00     315           
Jan.   8,202    6,622   1,580   86       86                   87          68.08     286           
Feb.   8,383    6,702   1,681   85       85                   87                    «b m          
March  8,562    6,935   1,627   84       85                   82                    BB OB         
April  9,080    7,401   1,679   82       84                   74            72.33   298           
May    10,068   8,079   1,989   81       83                   74          --- *     B» MB         
June   11,285   8,845   2,440   84       86                   75                    MB a»         
July   11,355   8,623   2,732   82       84                   74            81.29   318           
Aug.   10,608   7,914   2,694   82       84                   76          «B SB     OB OB         
Sept.  11,040   8,223   2,817   82       84                   78          «B OB     MB «B         
Oct.   11,839   8,928   2,911   84       87                   75            80.50   316           
Nov.   10,690   8,168   2,522   83       86                   74          m as                    
Dec.   9,337    7,289   2,048   85       88                   76          - ---     --- ---       

U*5

                           farm employment and monthly wage   RATES                                
NOTE: See p. 11*2                                                                                  
                       Farm Employment                                         Fann Wage Rates     
Tear   Number in Thousands     Seasonally Adjusted Index ( 1910-U*=100)             Seasonally Ad- 
and   All Farm Family  Hired   All Farm      Family           Hired       Amount    justed Index   
Month Workers  Workers Workers Workers       Workers          Workers     (Dollars) ç i9io-il*=iûù)
191*5 9,81*3   7,726   2,118   82            81*              73          $ 86.60   350            
Jan.  8,005    6,571   1,1*31* 85            86               79          80.30     338            
Feb.  8,051    6,557   1,1*91* 83            81*              78          * a*      ■» e»          
March 8,1*11*  6,891*  1,520   83            81*              78          •• w      --- •          
April 8,982    7,322   1,660   81            83               73          82.90     31*2           
May   10,017   8,153   1,861*  80            81*              69          •a eat    •• »           
June  10,991*  8,637   2,357   81            83               73          ■* AM     •• •»          
July  11,100   8,556   2,51*1* 80            83               69          89.60     351            
Aug.  10,612   7,970   2,61*2  83            85               75          •• «B     •" •*       •  
Sept. 10,907   8,091*  2,813   81            82               78                    •• «»          
Oct.  11,052   8,558   2,1*91* 79            81*              61*         88.00     31*5           
Nov.  10,71*7  8,178   2,569   81*           86               76                    ■* é»          
Dec.  9,21*5   7,217   2,028   ' 81*         87               75                                   
191*6                                                                                              
Jan.  7,732'   S,!*17  1,320                                                  85.90 "W             
Feb.  7,799    6,375   1,1*21* 80            81               73                                   
March 8,1*11*  6,891*  1,520   82            83               75                                   
April 9,121    7,1*69  1,652   83            85               73              87.80 362            
May   10,366   8,391   1,975   81*           87               73          a» ■•                    
June                                                                                               
July                                                                      *                        
Aug.                                                                                               
Sept.                                                                                              
Oct.                                                                                               
Nov.                                                                                               
Dec.                                                                                               
191*7                                                                                              
Jan.                                                                                               
Feb.                                                                                               
March                                                                                              
April                                                                                              
May                                                                                                
June                                                                                               
July                                                                                               
Aug.                                                                                               
Sept.                                                                                              
Oct.                                                                                               
Nov.                                                                                               
Dec.                                                                                               

SOURCE- United States Department of Agriculture, Bureau of Agricultural Economics
«»7283 0—46——10.

146

agricultural activity



Productivity - Agriculture

    These series are compiled by the Productivity and Technological Development Division of the United States Bureau of Labor Statistics. Hie indexes for 1909-35 were constructed by the National Research Project of the Works Projects Administration in connection with its studies of changing techniques and employment - Agriculture. The National Research Project indexes, which were computed on the base 1924-29 - 100, were linked to indexes prepared by the Bureau of labor Statistics, for later years on the base 1939=100.

    The methods used by the Bureau of labor Statistics were similar to those used by the National Research Project; they are fully described in the publications: Trend in Size and Production of the Aggregate Farm Enterprise, 1909-70^ Rational Research Project Report No. A-6, and Trends - Employment™*- Agriculture, 1909-36, National Research Project Report No. A-8. Additional data on this subject may be found in Labor Requirements for Crops and Livestock, .United States Department of Apiculture, bulletin F.U. 40. TEe~seriesas~published and described by the Bureau of Labor Statistics appear in two mimeographed releases, "Productivity in Agriculture; 1909-1942”, issued November 1943 and Productivity in Agriculture; 1942-44”, issued May 1945«



147

PRODUCTIVITY IN AGRICULTURE

(Indexes: 1939 ■ 100)

                               Output     
Tear Production Employment   per Worker   
1909    75.4      113.7    66.3           
1910    79.2      113.1    70.0           
1911 82.0         112.1    73.1           
1912    86.7      112.1    77.3           
1913 81.1         112.0    72.4           
19U  88.6         111.7    79.3           
1915 85.8         111.6    76.9           
1916 82.0         111.9    73.3           
1917 85.8         109.8    78.1           
1918 85.8         105.7    81.2           
1919    83.9      103.4    81.1           
1920    91.4      105.8    86.4           
1921 78.2         106.3    73.6           
1922 84.8         106.5    79.6           
1923 86.7 ,       106.0    81.8           
1924 88.6         105.8    83.7           
1925    94.3      106.6    88.5           
1926 98.0          107^    91.2           
1927    92.4      104.7    88.3           
1928 97.1         105.9    91.7           
1929 96.2         105.1    91.5           
1930 93.3         104.0    89.7           
1931   102.8      103.9    98.9           
1932 96.2         103.1    93.3           
1933 91.4         102.6    89.1           
1934    77.3      101.0    ।          76.5
1935    90.5      103.6    87.4           
1936 83.9         102.9    81.5           
1937   106.6      101.4    105.1          
1938 98.2         100.5    97.7           
1939   100.0      100.0    100.0          
1940   101.8       98.6    103.2          
1941   103.6       96.5    107.4          
1942   115.1       96.8    118.9          
1943   111.7       95.6    116.8          
1944   115.9       93.5    124.0          
1945                                      
1946                                      
1947                                      

    Source: United States Department of Labor, Bureau of Labor Statistics


148





AGRICULTURAL ACTIVITY




Farm Real fist ate Value




    This series is compiled by the United States Department of Agriculture, Bureau of Agricultural Economics, and published in ’’Current Developments in the Farm Real Estate Market”.

    The index of farm real estate value is calculated from the estimates of per acre value of land and buildings as reported by crop corres- % pendents* Before 1912 such estimates were made only as of March 1, but beginning in 1912 estimates have also been made as of July 1 and November 1 each year.





Farm Foreclosures




    This series is compiled by the United States Department of Agriculture, Bureau of Agricultural Economics.

    Fam foreclosures include also assignment of farms (resulting from inability to meet mortgage payments) and bankruptcy sales. They do not include delinquent tax sales. The total number of foreclosures is estimated by applying the rate per thousand per year (derived from sample surveys) to the total number of farms.

U?

FARM REAL ESTATE VALUE AND FARM FORECLOSURES

Index of Farm                    __Farm Foreclosures^/            
Year         Real Estate Valué V Estimated              Index     
(1912-24 = 100)                  Number            (1925-29 = 100)
1912                  97         15,000                  15       
1913                 100         16,000                  17       
191b                103          19,000                  20       
1915                 103         20,000                  21       
1916                 108         22,000                  23       
1917                 117         22,000                 22        
1918                 129         18,000                   39      
1919                140          19,000                   19      
1920               ’ 170         24,000                 24        
1921                 157         39,000                 39        
1922                 139         68,000                  70       
3923                 135         85,000                 87        
1924                 130         96,000                 100       
1925                 127         100,000                 io4      
1926                124          104,000                 109      
1927                 119         99,000                 105       
1928                 117         83,000                 88        
1929                 116         87,000                 94        
1930                 115         103,000                 112      
1931                306          ' 160,000                 170    
1932                  89         223,000                 232      
3933                  73         164,000                 167      
3934                 76          126,000                 125      
3935                  79         124,000                 121      
3936                  82         108,000                 108      
1937                  85         84,000                 85        
1938                  85         78,000                 81        
3939                  84         71,000                  75       
3940                 84          58,000                 63        
1941                 85          34,000                 37        
3942                 91          24,000                  26       
3943                  99         17,000                   IB      
1944                 114         10,000                  11       
3945                126                                           
1946          -      142                                          
1947             21111                                            

ÿ Average value per acre as of March 1«

^ »Distressed Sales” of farms; includes mortgage foreclosures and assignments to creditors#


SOURCE: United States Department of Agriculture, Bureau of Agricultural

Economics

150

                           (Space Reserved for Additional Series)



BUSINESS ACTIVITY

New Construction Activity

     Value of Construction: - These series are compiled by the United States Department of Commerce, Bureau of Foreign and Domestic Commerce, and are published monthly in the Survey of Current Business» They measure new construction activity in terms of the current dollar value of work done. Series in the Handbook cover the total value of new construction and the value of privai^anT"public construction broken down by major type of function. Private construction covers nonfarm residential and nonresidential construction, farm construction which includes both residential and nonresidential construction, and public utility construction. Public construction covers residential and nonresidential construction, highway construction and all other public construction which includes military and naval^sewage disposal and water supply building^ and other miscellaneous building for Federal and Non-Federal public service enterprises.

     Number of dwelling units: - These series are compiled by the United States Department of Labor, Bureau of Labor Statistics, and are published monthly in the publication Construction. These series represent the number of dwelling units £rEarlxiT"l^^ areas and are shewn in the Handbook by type of location, urban and rural nonfarm, and by source of funds, private and public.



152

       ALL NEW PRIVATE AND PUBLIC CONSTRUCTION IN CONTINENTAL UNITED STATES                   
                                                 BY FUNCTION                                  
NOTE: See p. 151                            (Millions of Dollars)                             
       All                       Private                                 Public              
Year   New               Nonfarm                                                             
and    Construe- Total   Resi-   Nonresi- - Farm Public  Total   Resi-   Nonresi- High- All  
Month  tion              dential dential         Utility         dential dential  ways  Other
1915   $ 2,928   #2,213  $ 950   ♦ 513    #205    #5115  $ 715     --- * $ 217    $298  $ 200
1916   3,11113   2,7110  1,066   771      255    6I18    703     * OB    207      308   168  
1917   li,131i   2,861   902     860      315    781i    1,273   •• •■   192      313   768  
1918   11,711    2,1180  69I     771      323    695     2,231      # 28 199      288   1,716
1919   5,727     3,761i  1,536   1,1117   11111  667     1,963   24      246      415   1,288
1920   6,109     11,775  1,5115  2,O8h    381    765     1,331:          283      6I1O  4U   
1921   5,531i    3,981i  1,661   1,5115   183    595     1,550           387      840   323  
1922   7,010     5,353   2,7311  1,640    218    761     1,657   M «■    481      851   325  
1923   8,572     6,9711  3,640   1,899    270    1,165   1,598           481      783   334  
1924   9,523     7,661   11,195  1,900    257    1,309   1,862     - --- 494      951   417  
1925   10,518    8,lil0  h,505   2,377    259    1,269   2,108           573      1,056 479  
1926   11,118    9,005   11,1196 2,883    251    1,375   2,113   --- --- 603      1,039 471  
1927   11,067    8,699   11,175  2,830    283    1,1:11  2,368           596      1,190 582  
1928   10,7119   8,287   3,869   2,802    275    1,341   2,li62  •• ••   638      1,270 554  
1929   9,907     7,1196  2,797   2,81i8   279    1,572   2,1:11  --- --- 642      1,248 521  
1930   8,liOU    5,627   1,790   2,123    193    1,521   2,777           647      1,461 649  
1931   6,205     3,628   1,1160  1,116    97     955     2,577           591      1,323 663  
1932   3,11111   1,6117  638     505      39     1165    1,791*  * *     408      916   470  
1933   2,350     1,1311  1113    1107     69      21i5   1,216           191      675   350  
1934   2,928     1,11112 591     1156     93     302     1,486         1 207      821   458  
1935   3,337     1,888   913     1*75     176    3211    l,iili9       9 260      622   558  
1936   h,88O     2,703   1,368   715      189    1131    2,177   61      546      876   694  
1937   5,585     3,5113  1,655   1,093    225    570     2,01:2  93      1167     850   632  
1938   5,2711    3,182   1,767   767      196    1152    2,092   35      571      837   649  
1939   6,017     3,606   2,Illi  789      226    1177    2,lill  76      762      869   704  
19110  6,918     11,179  2,355   1,029    236    559     2,739   205     497      896   1,141
w      10,5113   5,197   2,750   1,1:88   303    656     5,31:6  1*79    1,667    836   2,364
19112  13,h98    2,842   1,268   636      271    667     10,656  600     3,742    664   5,650
19113  7,787     1,569   616     217      259    1177    6,218   685     2,111    454   2,968
19111: 11,0119   1,598   1199    352      190    557     2,1151  190     879      360   1,022
Jan.   3112      Illi    50      20       6      38      228        ' 30 75       23    100  
Feb.   3211      123     I16     22       5      110     211     24      73       22    92   
March  313       121     lili    23       11     113     192     21      73       20    78   
April  331       130     li5     211      16       115   '   201 20      71       26    84   
May    3118      139     1*5     27       20     117     209     19      68       30    92   
June   35h       Hili    116     29       20     119     210     17      67       37    89   
July   373       159     1*5     32       33     119     2111    15      62       40    97   
Aug.   377       1511    112     32       29     51      223     13      75       40    95   
Sept.  361       1117    39      33       22     53      214     10      79       38    87   
Oct.   335       133     35      31i      13     51      202     8       79       37    78   
Nov.   312       127     32      36       10     1:9     185           7 79       28    71   
Dec.   279       117     30      110      5      112     162           6 78       19    59   

153

ALL NEW PRIVATE AND PUBLIC CONSTRUCTION IN CONTINENTAL UNITED STATES BY FUNCTION

NOTE: See p. 151 (Millions of Dollars)                                                     
      All                     Private                              Public                  
Year  New                    Nonfarm                                                      
and   Construc-  Total   Resi-   Nonresi- Farm Public   Total Re si-  Nonresi- High- All  
Month tion               dential dential       Utility        dential dent ial ways  Other
1945  #4,732     $ 2,659 $780    $1,100   $200 $579    $2,073    $ 71     $845 $302   $855
Jan«  277        113     25      47       6    35      164    7       81       15       61
Feb.     289     118     23.     54       5    36 •    171    7       85       14    65   
March    324     141     26      63       11   41      183    7       92       15    69   
April 360        164     34      71       16   43      196    8       97       18       73
May   398        187     45      76       21     45       211 9       97       24       81
June  412        203     58      77       21   47      209    9       89       29    82   
July  428        232     68      78       34   52      196    7       77          29 83   
Aug.     440     245     73      87       30     55    195    7       69       34    85   
Sept. 420        265     82      104      23   56      155    3       45       36    71   
Oct.     447     28?     95      122      15   57      158    3       45       36    74   
Nov.  468        334     ,H7     148      12   57      134    2       36       31    65   
Dec.     469     368     134     173      6      55       101 2       32       21    46   
1946                                                                                      
Jan.     489     400     149     189      8      54        89 2       25       18    44   
Feb.  519        441     170     212      8                78         21       19-        
March 609        510     200     23ii          62      ____29         24        - 26 ---44
April 711                2^0"    261      20   66             8                           
May              683             290           _LL      _ 131      10 24                  
June                                                                                      
July                                                                                      
Aug.                                                                                      
Sept.                                                                                     
Oct.                                                                                      
Nov.                                                                                      
Dec.                                                                                      
1947                                                                                      
Jan.                                                                                      
Feb.                                                                                      
March                                                                                     
April                                                                                     
May                                                                                       
June                                                                                      
July                                                                                      
Aug.                                                                                      
Sept.                                                                                     
Oct.                                                                                      
Nov.                                                                                      
Dec.                                                                                      

                                                                                                                                                           i

SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

I51i

 ESTIMATED NUMBER OF NEW DWELLING UNITS STARTED IN NONFARM AREAS,
                        BY SOURCE OF FUNDS                       

NOTE: See p. 151

Year           ÄH Units               Privately Financed            Publicly Finalced         
and    Total    Urban    Rural    Total    Urban    Rural    Total    n .       Rural         
Month  Nonfarm            Nonfarm Nonfarm            Nonfarm Nonfarm      3X1 Nonfarm         
1910   475,000                                                                                
1911   480,000                                                                                
1912   490,000     - -       - - .                                                            
1913   455,000                                                                                
1914   445,000                                                                                
1915   475,ooo                                                                                
1916   480,000    - -      -- -- - -      __ __ - .                                           
1917   230,000     - -                                                                        
19 Iß  120,000 •   - -                                                                        
1919   330,000    - -      - *      - -      - -      - -       --     - -                    
1920   247,000   196,000    51,000   247,000     - -  ,                                       
1921   449,000  359,000    90,000  449,000                                                    
1922   716,000  574,000   142,000   716,000                                                   
1923   871,000 698,000 173,000 871,000    - -      - -                                        
1924   893,000 716,000 177,000 893,000                                                        
1925   937,000  752,000   185,000   937,000                                                   
1926   849,000  681,000   168,000  849,000    - -      - -                                    
1927   810,000  643,000   167,000  810,000                                                    
1928   753,000  594,000   159,000  753,000     - -      - - - - - -                           
1929   509,000  400,000   109,000   509,000                                                   
1930   330,000   236,000    94,000  330,000    - -  »   --       - -     - -                  
1931   254,000   174,000    80,000   254,000                                                  
1932   134,000    64,000    70,000   134,000     - -       - -        - - - - -               
1933 ' 93,000   45,000   48,000   93,000                                                      
1934   126,000   49,000   77,000   126,000    --                                              
1935   221,000 117,000 104,000 215,705 112,591 103,114 5,295 4,409 886                        
1936   319,000 211,000 108,000 304,225 197,648 106,577 14,775 13,352 1,423                    
1937   336,000 218,000 118,000 332,4o6 214,406 118,000 3,594 3,594 0                          
1938   406,000 262,000 144,000 399,294 255,294 144,000 6,706 6,706 0                          
1939   515,000 359,000 156,000 458,458 303,547 154,911 56,542 55,453 1,089                    
1940   602,600   396,612   205,988   529,571  333,166   196,405    73,029    63,1:46     9,583
1941   715,200   439,582   275,618   619,460   369,465   249,995    95,740    70,117    25,623
1942   496,600   280,838   215,762   301,193   184,892   116,301   195,407    95,946   99,461 
1943   350,000   209,250   140,750   183,728   119,714    64,014   166,272    89,536    76,736
1914   169,300 114,799 54,501 138,711 93,173 45,538 30,589 21,626 8,963                       
Jan»   17,300 11,016 6,284 12,195 8,222 3,973 5,105 ' 2,794 2,311                             
Feb.   13,500 9,050 4,450 11,678 7,860 3,818 1,822 1,190 632                                  
March  18,100 12,359 5,741 13,435 9,020 4,415 4,665 3,339 1,326                               
April  14,300 9,586 4,714 12,830 8,528 4,302 1,470 1,058 412                                  
May-   16,500 10,923 5,577 14,673 9,743 4,930 1,827 1,180 647                                 
June   17,500 11,558 5,942 15,043 9,973 5,070 2,457 1,585 872                                 
July-  14,500 9,830 4,670 ‘ 12,392 8,114 4,278 2,108 1,716 392                                
Aug.   12,800 8,768 4,032 11,067 7,273 3,794 1,733 1,495 238                                  
Sept.  11,300 7,758 3,542 9,438 6,228 3,210 1,862 1,530 332                                   
Oct.   11,100 7,469 3,631 9,721 6,884 2,837 1,379 585 791                                     
Nov.   11,600 8,460 3,140 9,087 6,362 2,725 2,513 2,098 ‘415                                  
Dec.   10,800 8,022 2,778 7,152 4,966 2,186 3,618 3,056 592                                   

155

ESTIMATED NUMBER OF NEW DWELLING UNITS STARTED IN NONFARM AREAS, BY SOURCE OF FUNDS

NOTE: See p. 151                                                                       
Year              AÜ ’unite            Privately Financed              Lely Financed    
and       Total   Urban     Rural   Total      Urban   Rural   Total   Urban Rural     
Month     Nonfarm           Nonfarm Nonfarm            Nonfarm Nonfarm          Nonfarm
1945      245,100  160,706  84,394  228,757    150,712  78,045 16,343  9,994 6,349     
Jan«      7,700   5,046     2,654   7,302      5,046   2,256   398         0        398
Feb«      8,500   6,168     2,332     7,660    5,328     2,332 840       840 0         
March     13,200  8,039     5,161   11,615     7,967     3,648 1,585      72      1,513
April     19,300  12,577    6,723   13,456     9,502     3,954 5,844   3,075      2,769
May       18,700  12,530    6,170     16,535   11,222    5,313 2,165   1,308        857
June      22,300  13,586    8,714   20,412     11,988    8,424 1,888   1,598        290
July      23,300  15,913    7,387   19,948     12,956    6,992 3,352   2,957        395
Aug.      20,400  13,059    7,341     20,154   12,915  7,239   246       144      102 ,
Sept«     21,800  14,619    7,181   21,800     14,619  , 7,181 0           0 0         
Oct«      29,800  19,496    10,304    29,775   19,496   10,279      25     0         25
Nov«      31,400  20,417    10,983  31,400     20,417   10,983 0           0 0         
Dec«      28,700  19,256    9,444   28,700     19,256    9,444 0           0 0         
1946                                                                                   
Jan,      43i3OO  30,097    13,203  39,121     25,918   13,203 4,179   4,179 0         
Feb.      47,900  32,936    14,964  43,347     28,503   14,844 4,553   4,433        120
March     79,900  52,625    27^275  . 76,900 . 49,967  . 26^   3,000      2Ä .      342
April                                                                                  
May                                                                                    
June                                                                                   
July                                                                                   
Aug.                                                                                   
Sept.                                                                                  
Oct.                                                                                   
Nov.                                                                                   
Dec.                                                                                   
1947                                                                                   
Jan.                                                                                   
Feb.                                                                                   
March                                                                                  
April                                                                                  
May                                                                                    
June                                                                                   
July                                                                                   
Aug.                                                                                   
Sept.                                                                                  
Oct.                                                                                   
Nov,                        *                                                          
Dec.                                                                                   

SOURCE: United States Department of Labor, Bureau of Labor Statistics


156

BUSINESS ACTIVITY

New Orders, Shipments* and Inventories

    These series are compiled by the Bureau of Foreign and Domestic Commerce* United States Department of Commerce* and presented monthly in ^he Survey of Current Business«

    Manufacturers¹ New Orders: - The new orders series represent total new ârHêrîT'Iêss^^              received by both manufacturers who do and do
    not fill orders promptly upon receipt. Series for selected industry groupings are shown in the Handbook.

    Manufacturers¹ Shipments: - The series represents the current dollar value oï gross shipments of finished and semi-finished products and materials in various stages of fabrication. Since shipments by one manufacturer of materials used as raw materials by another are included* the series does not show the net flow of goods from the manufacturing industry as a whole. Composite series for all manufactured goods* durable goods and nondurable goods and for individual industries are shown in the Handbook.

    Business Inventories: - These series represent estimates of the total current book value of inventories at the end of the month. Separate series have been developed and are shown in the Handbook for (1) total business inventories* (2) manufacturers¹ inventories classified by stages of fabrication as well as into durable and nondurable goods groupe, individual industries* (3) wholesalers'¹ inventories, and (U) retailers¹

    inventories.


157




BUSINESS ACTIVITY



          New Orders, Shipments,and Inventories (Continued)

 The selected industries for which manufacturers* new orders are shown are as follows:


                 All Industries Combined

                 Durable Goods Industries, Combined

                   Iron and Steel and Their Products
                   Electrical Machinery
                   Machinery, Except Electrical Other Durable Goods

                 Nondurable Goods Industries, Combined

 The selected industries for which manufacturers’ shipments and inventories are shown are as follows:


                All Industries Combined

                Durable Goods Industries Combined

                  Automobiles and Equipment
                  Iron and Steel and Their Products
                  Nonferrous Metal and Products
                  Electrical Machinery
                  Other Machinery
                  Transportation Equipment, Except Automobiles
                  Other Durable Goods

                Nondurable Goods Industries Combined

                  Chemicals and Products
                  Food and Products
                  Paper and Products
                  Rubber Products
                  Textile-mill Products
                  Products of Petroleum and Coal
                  Other Nondurable Goods


158

 INDEXES OF THE VALUE OF NEW ORDERS RECEIVED BI MANUFACTURERS 1/          
NOTE: See p. 156  (Average Month 1939*100)                                
Year     Total    Non-     Durable  Iron &    Electri-  Machinery  Other 
                  Durable  Goods    Steel &   cal Ma-   (except    Dura- 
                  Goods             their     chinery   Electri-   ble   
                                    Products            cal)       Goods 
1939      100     100        100    100       100       100        100   
Aug.      92         95    89          8U        90     86           95  
MO    116         106      131      127          188    186        123   
w     168         1U2      213      227          2U1    2U5        175   
Jan.      1U7     122      187      209          199    197        156   
Dec.  176         147      223      219          281    309        167   
M2    207         169      268      2U7          380    382        202   
May   209         160      289      200          U35    51U        226   
Sept. 201         175      2UU      211          39U    311        20U   
Oct.  203         180      2U1      196          352    358        198   
M3    201         181      23U      228       350       253        198   
May   193         IBU      208      220          280    158        200   
MU    208         196      229      207          3U9    281        192   
Jan.  207         181      288      173          U73    383        196   
Feb.  191         188      195      185          392    1U5        177   
March 191         185      202      168       303       ' 230      195   
April     197     186      215      196       319       279        173   
May       222     196      265      30U          383    2U7        202   
June  215         209      227      203          331    276        197   
July  195         188      213      183          368    23U        193   
Aug.  205         188      231      2U5          237    280 '      191   
Sept. 206           191    230      201          3U8    279        201   
Oct.  208         20U      21U      200          395    231        169   
Nov.  223         218      232      212          375    268        196   
Dec.  238         216      276      216          266    528        211   
M5    198         195      202      215                            170   
Jan.  227         202      267      270          371    296        221   
Feb.  260         220      326      320       U90       369        266   
March 252         192      351      U32          U59    3U5        2U0   
April 223         197 1    267      283          U03    277        207   
May   186         192      177      191          207    1U7        170   
June  195         202      182      177          363    153        151»  
July  186         190      179      176       270       170        162   
Aug.  133         181      53          83        1^0                 63  
Sept. 166         M        121      119                            130   
Oct.  180         193      160      176          178    147        1UU   
Nov.  183           191    171      181          239    161        186   
Dec.  182         188      172      17U          268    188        137   

159

       INDEXES OF THE VALUE OF NEW ORDERS RECEIVED BI MANUFACTURERS V (Average Month 1939=130)
NOTE» See p. 156

                            Iron à            Machinery Other
Year  Total Non-    Durable Steel &  Electri- (except   Dura-
            durable Goods   their    cal Ma-  Electri-  ble  
            Goods           Products chinery  cal)      Goods
w                                                            
Jan.   190  196       160   165        292    191       156  
Feb.   186  189       182   162                         151  
March  192  185       203   208                         151» 
April                                                        
May                                                          
June        4                                                
July                                                         
Aug.                                                         
Sept.                                                        
Oct.                                                         
Nov.                                                         
Dec.                                                         
w                                                            
Jan.                                                         
Feb.                                                         
March                                •                       
April                                                        
May                                                          
June                                                         
July                                                         
Aug.                                                         
Sept.                                                        
Oct.              1                                          
Nov.                                                         
Dec.                                                         

V New order indexes shown above are based on reports of corporations and therefore cover all orders received, both Government and regular line orders# This index is constructed on a daily average basis excluding Sundays and principal holidays# New Year’s Day, January 19^5, and Memorial Day, May 19 b5 are considered working days. August 15, 1915 is considered a holiday#
2/ Value of orders cancelled exceeded new orders received.

SOURCE: United States Department of Commerce, Bureau of Foreign and
          Domestic Commerce

160

MANUFACTURERS’ SHIPMENTS — ALL INDUSTRIES*!/

(Amount in Millions of Dollars --- Index Adjusted fo     r Seasonal Variation)   
                                                          Index (1939  .100)    
Year                    Amount                1 Year     Total Dur-    Nondur-  
and        Total        Durable    Nondurable and        Ship- able    able     
Month      Shipments    Goods      Goods      Month      ments Goods   Goods    
1939-Total $55,787      122,830    $32,957    1939                              
Average       4,649     1,902      2,746      Average    100   100     100      
Aug.       4,426        1,695      2,731      Aug.       100   102        99    
1940-Total 64,158       28,832     35,326     1940                              
Average       5,346     2,403      2,944      Average     115  126     107      
1941-Total 91,266       45,136     46,130     1941                              
Average    7,606        3,761      3,844      Average    164   198     140      
Jan.       6,047        2,959      3,088      Jan.       137   162     119      
Deo •      8,672        4,424 .    4,248      Dec.       186   230     155      
1942-Total 117,733      62,946     54,787     1942                              
Average    9,811        5,246      4,566      Average    211   276     166      
May        9,455        5,023      4,432      May        206   262     168      
Sept.      ,10,489      5,683      4,806      Sept.      222   296     170      
Oct.       10,646       5,766      4,880      Oct.       225   302     171      
1943-Total 143,437      83,213     60,224     1943                              
Average    11,953       6,934      5,019      Average    257   365     183      
May        11,674       6,870      4,804      May        253   360     179      
1944-Total 150,587      86,098     64,489     1944                              
Average    12,549       7,175      5,374      Average    270   378        196   
Jan.       11,938 ,     6,934      5,004      Jan.       266   376     190      
Feb.       12,613       7,300      5,313      Feb.       268   385     188      
Mar •      12,469       7,182      5,287      Mar •      268   379     192      
Apr •      12,751       7,412      5,339      Apr.       274   387        195   
May        12,274       7,059      5,215      May        267   371        194   
June       12,673       7,283      5,390      June       272   379     198      
July       12,234       7,104      5,130      July       271   376     198      
Aug.       12,281       6,970      5,311      Aug.       267   370     196      
Sept.      12,516       7,073      5,443      Sept.      267   370     196      
Oct.       12,945       7,229      5,716      Oct.       275   381     201      
Nov.       12,691       7,125      5,566      Nov.       273   378     200      
Dec •      13,202       7,427      5,775      Dec •      277   384       ' 204  

      * See notes on p. 156

161

NOTE:                           MANUFACTURERS * SHIPMENTS --- ALL INDUSTRIES 1/                             
See p. 156 (Amount in Millions of  -ßollarsj^^_ Index Adjusted _f or Seasonal Variation)________________;   
Year                 Amount                     Year                       Index (1939 •  100)             
and        Total     Durable       Nondurable   and            Total     Durable          Nondurable       
Month      Shipments Goods         Goods        Month          Shipments Goods            Goods            
1945-Total $ 136,383    #69,196    ♦ 67,187     1945                                                       
Average    11,365    5,766         5,599        Average        245       304              204              
Jan.       12,116    6,735         5,381        Jan.           271       366              206              
Feb.       13,346    7,499         5,847        Feb.           284       395              207              
Mar.       13,056    7,276         5,780        Mar.           281       384              210              
Apr.       13,301    7,408         5,893        A nr.          285       387              214              
May        12,525    6,873         5,652        May            272       361              210              
June       12,463    6,775         5,688        June           267       352                     209       
July       11,479    6,096         5,383        July           253       318              208              
Aug.       10,311    4,984         5,327        Aug.           224       265              196              
Sept.      9,746     4,102         5,644        Sept.          208       214              203              
Oct.       9,489     3,863         5,626        Oct.           200       204              198              
Nov.       9 393     3,801         5,592        Nov.           200       201              200              
Dec.       9,158     3,784         5,374        Dec.           192       195              189              
1946-Total                                      1946                                                       
Average                                         Average                                                    
Jan.       8,517     3,162         5,355        Jan.           192       173              205              
Feb.       8,470     2,887         5,583        Feb.           179       152                     197       
Mar.       9,103     3.426         _J^tl        Mar.           196       181              _2O6_            
Apr.                                            Apr.                                                       
May                                             May                                                        
June                                            June                                                       
July                                            July                                                       
Aug.                 ---           ---          Aug.           ---       ----             ---              
Sept.                                           Sept.                                                      
Oct.                                            Oct.                                                       
• Nov.                                          Nov.                                                       
Dec.                                            Dec.                                                       
1947-Total                                      1947                                                       
Average                                         Average                                                    
Jan.                                            Jan.                                                       
Feb.       ---       ---           ---          Feb.           ---       ---------        ------           
Mar.                                            Mar.                                                       
Apr.                                            Apr.                                                       
May        ---       ---                        May            ------ ■  ---                               
June                                            June                                                       
July       ---       ---           ---          July           .....     ---                               
Aug.                                            Aug.                                                       
Sept.                                           Sept.                                                      
Oct.       ---       ---           ---          Oct.           ---       ---              ------           
Nov.                                            Nov.                                                       
Dec.                                            Dec.                                                       

  ]/ Adjusted for working days






897283 O—46------11

Source: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

                                            162                                        
MANUFACTURERS                  » SHIPMENTS --- DURABIE GOODS   ■ INDUSTRIES^           
NOTE: See p. 156                   (Millions of Dollars)                               
                     Auto-               Non-         Elec-           Transpor-       
        All          mobiles   Iron and  ferrous      trical Other tat ion      Other 
Year    Du-          and       Steel and Metals       Ma-      Ma-    Equipment Du-   
and     rabie        Equip-    Their     and             chin- chin-  (Except   rable 
Month   Goods        ment      Products  - Products      i ery ery    Auto-)    Goods 
1939-Total$22,830 #3,964       $6,469    $2,549        $1,712  $3,196 $865      $4,075
Average 1,902        330       539       212          143      266    72        340   
Aug.    1,695        148       526       205          132      254    71        359   
1940-Total 2 8,83 2  5,133     8,059     3,076        2,205    4,108  1,531     4,720 
Average 2,403        428       672       256          184      342    128       393   
1941-Total 45,136    6,766     12,791    4,479           3,500 6,588  4,177     6,835 
Average 3,761        564       1,066     373          292      549    348       570   
Jan.    2,959        568 .     855       306          218      394    184       434   
Dec.    4,424        571       1,188     394          361      715.   614       581   
1942-Total 62,946    6,706     14,893    5,359        4,683    10,339 13,137    7,779 
Average 5,246        559       1,241     447          390      866    1,095      ' 648
May     5,023        428       1,245     439          368      860    1,003     680   
Sept.   5,683        629       1,264     465          397      931    1,308     689   
Oct.    5,766        670       1,254     476          438      935    1,304     689   
1943-Total 83,213    10,482    15,912    6,470        7,195    12,846 21,858    8,450 
Average 6,934        874       1,326     539          600      1,070  1,822     704   
May     6,870        854       1,326     549             . 558 1,071  1,801     711   
1944-Total 86,098 11,774       15,946    6,925        8,492    12,901 21,461    8,597 
Average 7,175        981       1,329     577          708      1,075  1,738     716   
Jan.    6,934        988       1,262     552          614      1,016  1,830     672   
Feb.    7,300        993       1,333     578          690      1,082  1,924     700   
Mar.    7,182        973       1,317     583          694      1,067  1,844     704   
Apr.    7,412        1,021     1,337     578          734      1,130  1,904     708   
May     7,059        957       1,269     581          646      1,094  1,819     693   
June    7,283        1,035     1,337     576          703      1,135  1,754     743   
July    7,104        954       1,319     544          727      1,069  1,777     724   
Aug.    6,970        962       1,310     558          690      1,044  1,663     743   
Sept.   7,073        931       1,363     566          745      1,035  1,708     724   
Oct.    7,229        964       1,359     592          737      1,086  1,738     753   
Nov.    7,125        995       1,341     598          703      1,037- 1,737     713   
Dec.    7,427        1,001     1,399     619          809      1,106  1,763     730   

163

MANUFACTURERS’ SHIPMENTS - DURABLE GOODS INDUSTRIES 1/

NOTE: See p. 156                      (iciliions of Dollars)

                 Auto-               Non-     Elec-           Transpor-              
           A12   mobiles   Tron and  ferrous  trical Other    tation    Other        
Year       Du-   and       Steel and Metile   Ma-         Ma- Equipment Du-          
and        rabie Youip-    Their     and      chin-  chin-    (Except   rabie        
Month      Goods ment      Products  Products ery    ery      Auto)     Goods        
1945-TotaL 569,196 $8,733  $15,151   $6,08$   $7,179 $10,978  $12,605   $8,461       
Average    5,766 728       1,263     507      598         915 1,050     705          
Jan»       6,735 918       1,306     584      621    1,025    1,577     705          
Feb.       7,499 1,061     1,470     643      761    1,141    1,666     757          
Mar.       7,276 1,036     1,553     625      721    1,090    1,473     778          
Apr.       7,408 1,032     1,542     658      732       1,170 1,492     782          
May        6,873 946       1,464     610      709    1,081    1,281     781          
June       6,775 890       1,434     588      722       1,122 1,249     788          
July       6,096 816       1,284     492      664         966 . 1,148   726          
Aug.       4,984 600       1,065     404      567         784 888       675          
Sept.      4,102 391       1,048     332      436         675 '     573 647          
Oct.       3,863 335       982       355      412         681 426       671          
Nov.       3,801 394       991       406      408         616 381       605          
Dec.       3,784 314       1,032     388      426         627 451       546          
1946-Total 3.162 .   219   762       316 .                 #9 1112 _    597          
Average    2,887                                                        .......6148 "
Jan.         ¿14                                                        “697         
Feb.                                                                                 
Mar •                                                                                
Apr.                                                                                 
• May                                                                                
June                                                                                 
July                                                                                 
Aug.                                                                                 
Sept.                                                                                
Oct.                                                                                 
Nov.                                                                                 
Dec.                                                                                 
1947-Total                                                                           
Average                                                                              
Jan.                                                                                 
Feb.                                                                                 
Mar.                                                                                 
Apr.                                                                                 
May                                                                                  
June                                                                                 
July                                                                                 
Aug.                                                                                 
Sept.                                                                                
Oct.                                                                                 
Nov.                                                                                 
Dec.                                               ♦                                 

   1/ Adjusted for working days
SGurceV United States Department of Commerce, Bureau of Foreign and Domestic Commerce

MANUFACTURERS¹ SHIPMENTS — NONDURABLE GOODS INDUSTRIES 1/

NOTE: See p. 156          (Millions of Dollars)                              
           All     Chemi-                                                   
           Non-    cals             Paper                  Products  Other  
Year       Durable and    Food      and    Rubber Textile- Of Petro- Non-   
and        Indus - Pro-   and       Pro-   Pro-   mill     leum and  durable
Month      tries   ducts  Products  ducts  ducts  Products Coal      Goods  
1939-Total#32,957  $3,686 $10,401 $1,983   $880   $3,870   $2,893    $9,244 
Average    2,746   307    867       165    73     322      241       770    
Aug*       2,731   297    863       156    70     313         233    799    
1940-Total 35,326  4,152  10,950    2,259  954    4,095    3,049     9,867  
Average    2,944   346    912       188    80     341      254       822    
1941-Total 46,130  5,664  13,934    2,992  1,366   6,153   3,893     12,128 
Average     3,344  472    1,161     249    -114   513      324       1,011  
jan#       3,088   404    928       205    89     420      269       773    
Dec.       4,248   491    1,287     290    111    567      359       1,143  
1942-Total 54,787  6,314  18,226    3,059  1,539  7,603    4,105     13,941 
Average    4,566   526    1,519     255    128    634         342    1,162  
May        4,432   510    1,448     263    122    611      348       1,130  
Sept.      4,806   555    1,662     232    147    642      340       1,228  
Oct.       4,880   538    1,652     249    149    655      341       1,296  
1943-Total 60,224  7,249  19,871    3,255  2,444  7,796    4,620     14,989 
Average    5,019   604    1,656     271    204    650      385       1,249  
May        4,804   587    1,529     272    208    648      380       1,180  
1944-Total 64,459  7,625  21,908    3,447  2,645  7,302    5,382     16,182 
Average    5,374   635    1,826     287    220    608      448       1,348  
Jan.       5,004   611    1,794     268    200    587      409       1,135  
Feb.       5,313   630    1,856     288    ’ 218  645      423       1,253  
Mar.       5,287   631    1,773     290    212    651      428       1,302  
Apr.       5,339   625    1,800     284    215      631    443       1,341  
May        5,215   626    1,733     287    214    597      432       1,326  
June       5,390   640    1,730     296    231    646      462       1,385  
July       5,130   615    1,764     273    215    522      468       1,273  
Aug.       5,311   634    1,786     294    210    594'     447       1,346  
Sept.      5,443   636    1,870     283    217    594      451       1,393  
Oct.       5,716   670    1,969     297    250    611      462       1,457  
Nov. .     5,566   649    • 1,885   295    214    610      456       1,458  
Dec.       5,775   658    1,948     292    249      614    501       1,513  

V Adjusted for working days

165

MANUFACTURERS' SHIPMENTS — NONDURABLE GOODS INDUSTRIES 1/

NOTE: See  p. 156                        (Millions  of Dollars)                              
           All     Chemi-                                                                    
           Non-    cals                      Paper                         Products Other    
Year       Durable and              Food     and    Rubber Textile-     ■ Of Petro« - Non-   
and        Indus-  Pro-             and      Pro-   Pro-       mill        leum and durable  
Month      tries   ducts            Products ducts  ducts      Products Coal        Goods    
1945~Total$67,187  *7,774           *23,000 *3,536      *2,575 * 6,875  * 5,371     $18,057  
Average    5,599   648              1,917    295           215 573      448         1,505    
Jan.       5,381   641              1,836    282           227 568      444         1,383    
Feb.       5,847   699              1,942    302           256 641      468         1,540    
Mar.       5,780   701              1,857       304        256 612      471         1,578    
Apr.       5,893   735              1,902       309        260 633      488         1,566    
May        5,652   6.65             1,800    301           243 606      472         1,565    
June       5,688   666              1,883       305        243 639      473         1,479    
July       5,383   656              1,913     ' 274        200 499      479         1,362    
Aug.       5,327   618              1,847       286        186 532      442         1,416    
Sent.      5,644   610              2,088    302           146 539      441         1,519    
Oct.       5,626   588              2,046     . 294        190 538      368         1,602    
Nov.       5,592   616              1,996    302           155 532      397         1,594    
Dec.       5,374   579              1,890       275        213 536      428         1,453    
1946-Total                                                                                   
Average                                                                                      
Jan*.      5,355   623              1,887    301           167 578      387         U15      
Feb.        5,503       ' 655       1,535                ’ 177          372                  
Mar.                                '1,887   323               ¿¿2      h01         ---1.581’
Apr.                                                                                         
May                                                                                          
June                                                                                         
July                                                                                         
Aug.                                                                                         
Sept.                                                                                        
Oct.                                                                                         
Nov.                                                                                         
Dee.                                                                                         
1947-Total                                                                                   
Average                                                                                      
Jan.                                                                                         
Feb.                                                                                         
Mar.                                                                                         
Apr.                                                                                         
May                                                                                          
June                                                                                         
July                                                                                         
Aug.                                                                                         
Sept.                                                                                        
Oct.                                                                                         
Nov.                                                                                         
Dec.               ------------~---             --- --- ------                               

Source: United States Department of Commerce, Bureau of Foreign and
         Domestic Commerce

166

INDEX OF MANUFACTURERS* SHIPMENTS — DURABLE GOODS INDUSTRIES

NOTE:                                                              
See p» 156   (Adjusted for Seasonal Variation --- 1939 s 100)      
              Auto-                Non-     Elec-        Transpor-
       All   mobiles Iron and      ferrous  trical Other tation   
Year   In-   and     Steel and     Metals   Ma-    Ma-   Equipment
and    dus-  Equip-  Their         and      chin-  chin- (Except  
Month  tries ment    Products      Products ery    ery   Auto.)   
1939   100     100   100           100      100    100   100      
Aug.   102     100   98               99    98      99          99
1940   126     129   125           121      128    129   177      
1941   198   171     198           176      204    206   483      
Jan.   162   154     167           156      164    161   256      
Dec.   230     143   215           186      229    259   853      
1942   276     169   230           210      272    325   1,520    
May    262   130     231           203      257    317   1,393    
Sept.  296   191     229           219      278    350   1,817    
Oct.   302   203     230           225      306    352   1,811    
1943   365   265     246           . 254    419    403   2,530    
May    360   259     246           254      390    395   2,501    
1944   378   297     246           272      495    404   2,484    
Jan.   376   299     246           260      462    415   2,542    
Feb»   385   301     247           273      483    407   2,672    
Mar.   379   295     244           275      494    401   2,561    
Apr.   387   309     248           273      503    413   2,644    
May    371   290     235           274      452    403   2,526    
June   379   314     246           272      482    407   2,436    
July   376   289     249           257      508    410   2,468    
Aug.   370   292     243           263      508    408   2,310    
Sept.  370   282     247           267      521    389   2,372    
Oct.   381   292     249           279      515    408   2,414    
Nov.   378   302     252           282      492    390   2,413    
Dec.   384   303     254           292      515    400   2,449    
1945   304   221     . 233         239      420    344   1,459    
Jan.   366   278     254           275      468    418   2,190    
Feb.   395   322     273           303      532    429   2,314    
Mar.   384   314     288           295      514    410   2,046    
Apr.   387   313     286           310      502    427.  2,072    
May    361   287     272           288      496    398   1,779    
June   352   270     259           277      495    402   1,735    
July   318   247     225           232      464    370   1,594    
Aug.   265   182     198           191      418    307   1,233    
Sept.  214   118     , 189         157      305    254   796      
Oct.   204   102     180           167      288    256   592      
Nov.   201   119     186           192      285    232      529   
Dec.   195     95    186           183      271    227   626      

167

INDEX OF MANUFACTURERS • SHIPMENTS — DURABLE GOODS INDUSTRIES

NOTE»

See p* 156  (Adjusted for Seasonal Variation   --- 1939 s 100)          
            Auto-                  Non-        Elec*           Transpor-
       All  mobiles  Iron and      ferrous     trical   Other  tation   
Year   In-  and      Steel and     Metals      Ma-      Ma-    Equipment
and    dus- ■ Equip- Their         and         chin-    chin-  (Except  
Month  tries ment    Products      Products    ery      ery    Auto.}   
1946                                                                    
Jan.   173  66       11)6          172           172     237   ' 572 “  
Feb.   152           93            16h.                                 
Mar.   181           177           163                                  
Apr.                                                                    
May                                                                     
June                                                                    
July                                                                    
Aug.                                                                    
Sent.                                                                   
Oct.                                                                    
Nov.                                                                    
Dec.                                                                    
1947                                                                    
Jan.                                                                    
Feb.                                                                    
Mar.                                                                    
Apr.                                                                    
May                                                                     
June                                                                    
July                                                                    
Aug.                                                                    
Sept.                                                                   
Oct.                                                                    
Nov.                                                                    
Dec.                                                                    
                                                                        

Source: United States Department of Commerce, Bureau of Foreign and
         Domestic Commerce

168

INDEX OF MANUFACTURERS’ SHIPMENTS — NONDURABLE GOODS INDUSTRIES

NOTE: See p# 156 (Adjusted for Seasonal Variation-------- 1939 r 100)

         All Chem-    Food   Paper                         Products
 Year    In- icals     and     and               Textile- Of       
and     dus- and       Pro-   Pro-   Rubber    mill       Petroleum
Month tries  Products ducts   ducts   Products Products and Coal   
1939    100  100 100 100 100 100 100                               
Aug.    99   101 101 95 101 97 97                                  
1940    107  112 105 114 110 105 105                               
1941    140  154 134 I5I I56 159 135                               
Jan.   119   134 113 124 131 134 112                               
Deo.    155  169 154 176 151 176 149                               
1942    166  171 175 154 177 196 142                               
May    168   169 175 159 166 193 144                               
Sept.  170   178 187 141 212 198 141                               
Oct.   171   172 183 151 189 201 141                               
1943     183 197 191 164 279 201 160                               
May    179   194 185 165 284 205 158                               
1944    196  207     211    174     302       188        186       
Jan. 190     203      208     162     288       192        170     
Feb.   188   198     201    175     283       188        176       
Mar. 192     201     205    176     289       189        178       
Apr•    195  204     215    172     294       189        184       
May    194   207     210    174     292       189        179       
June 198     209      208    179     308       193         192     
July   198   209     213    165      305        185        194     
Aug. 196     208     207    178     312       188        185       
Sept• 196    204     210    172     313        185         187     
Oct. 201     215      217    180     321        188         192    
Nov. 200     211     214    179      301        188         189    
Dec •    204 215     218    177     318       186        208       
1945     204 211     221    179     294       178        186       
Jan. 206     213      213    171      327        185        184    
Feb.    207  220     211    183      332       187        194      
Mar. 210     223      215    184     350        177        195     
Apr. 214     239      226    187     355       190         202     
May    210   221      218     182      331       193         196   
June 209     218     226    185      324       191         196     
July   208   224     232    166     283       177        199       
Aug •    196 202      214    173      276       168         183    
Sept • 203   196      235     183      211       169        183    
Oct. 198     189      226     178     244       166         153    
Nov. 200     201      227     183      217        164        165   
Dec•    189  190     211     167      273       163        178     

169

INDEX OF MANUFACTURERS* SHIPMENTS — NONDURABLE GOODS INDUSTRIES

NOTE: See p. 156 (Adjusted for Seasonal Variation -- 1939 g 100)

      All   Chem-    Food  Paper                   ( Products
Year  In-   icals    and   and            Textile- Of        
and   dus-  and      Pro-  Pro-  Rubber   mill     Petroleum 
Month tries Products ducts ducts Products Products and Coal  
1946                                                         
Jan«  205   207      219    182  24I      188      lèi       
Feb«  197     206    210    185  229      175      154       
Mar«  206   217      219   196            180      166       
Apr«                                                         
May                                                          
June                                                         
July                                                         
Aug.                                                         
Sept«                                                        
Oct«                                                         
Nov.                                                         
Dec •                X                                       
1947                                                         
Jan.                                                         
Feb.                                                         
Mar.                                                         
Apr.                                                         
May                                                          
June                                                         
July                                                         
Aug.                                                         
Sept«                                                        
Oct.                                                         
Nov.                                                         
Deo •                            -                           

Source: United States Department of Commerce, Bureau of Foreign and
         Domestic Commerce

170

NOTE:                     BUSINESS   INVENTORIES                            
See p. 156    (End of Month Values   in Millions of Dollars)_____           
                                            Manufacturers                   
Year   Total                                  By St    age of Fabrication    
and    Business    Re-       Whole-        Raw         Goods in     Finished
Month  Inventories tailers   salers  Total Materials   Process      Goods   
1939   $18,699      $5,271   $3,437  $9,941     $3,955 $ 1,675       $4,311 
Aug.   18,243      4,972     3,447   9,824  3,723      1,728        4,373   
1940   20,339      5,474     3,694   11,171 4,530      2,095        4,546   
1941   23,614      5,998     4,236   13,380 5,697      3,192        4,491   
Jan.   21,465      5,441     3,915   12,109 4,972      2,561        4,576   
Dec.   26,825      6,381     4,697   15,747 7,085      3,951        4,711   
1942   28,832      7,359     4,509   16,964 7,767      4,335        4,862   
Way    29,483      7,870     4,674   16,939 7,748      4,264        4,927   
Sept.  29,344      7,660     4,245   17,439 7,987      4,531        4,921   
Oct.   28,993      7,417     4,029   17,547 8,219      4,543        4,785   
1943   27,921 v    6,391     3,967   17,563 8,137      4,990        4,436   
May    27,677      6,215     4,002   17,460 8,148      4,930        4,382   
       •                                                                    
1944   27,726      6,353     4,049   17,324 7,738      4,914        4,672   
Jan.   27,816      5,959     4,052   17,805 8,225      5,062        4,518   
Feb.   27,988      6,233     4,089   17,666 8,170      4,965        4,531   
Mar.   28,039      6,381     4,096   17,562 8,027      4,961        4,574   
Apr.   27,878        6,343   4,121   17,414 7,879      4,912        4,623   
May    27,775      6,361     4,146   17,268 7,776      - 4,848      4,644   
June   27,631        6,314   4,088   17,229 7,577      4,967        4,685   
July   27,424      6,166     4,043   17,215 7,581      4,868        4,766   
Aug.   27,774      6,521     3,987   17,266 7,495      4,955        4,816   
Sept.  27,736      6,602     3,995   17,139 7,368      4,974        4,797   
Oct.   27,878        6,779   3,999   17,100 7,447      4,883        4,770   
Nov.   27,625      6,665     3,987   16,973 7,444      4,719        4,810   
Dec.   26,608      5,869     4,002   16,737 7,443      4,621        4,673   
1945   26,783      6,453     3,946   16,384 7,510      4,269        4,605   
Jan.   26,495      5,928     3,978   16,589 7,385      4,507        4,697   
Feb.   26,561      6,166     3,927   16,468 7,366      4,524        4,588   
Mar.   26,686      6,385     3,923   16,378 7,366      4,495        4,517   
Apr.   26,793      6,554     3,946   16,293 7,477      4,373        4,443   
May    26,749      6,654     3,883   16,212 7,324      4,394        4,494   
June   26,558      6,547     3,844   16,167 7,353      4,393        4,421   
July   26,414      6,363     3,744   16,307 7,626      4,179        4,502   
Aug.   26,713      6,653     3,759   16,301 7,660      4,017        4,624   
Sept.  26,984      6,722     3,898   16,364 7,507      4,204        4,653   
Oct.   27,358      6,788     4,113   16,457 7,592      4,161        4,704   
Nov.   27,576      6,826     4,196   16,554 7,774      3,898        4,832   
Dec.   26,395      5,825     4,275   16,295 7,948      3,554        4,793   

171

BUSINESS INVENTORIES
NOTE:
See p. 1$6 (End of Month Values in Millions of Dollars                   «

                          -     Manufacturers^____________          
Year  Total                              By Stare of Fabrication_   
and   Business    Re-     Whole- Raw              Goods in Finished
Month Inventories tailers salers  Total Materials Process  Goods   
1946                                                               
Jan»  #26,631     #5,974  #4,258 #16,399 # 7,998  1 3,59k   $ k,8O7
Feb.  27,01*2      6,229    4,254 16,559 8,028     3,61*0     k,891
Mar.  27,a?       -61500. 1,375 16,67k. .8,009    , 3.80k     k,861
Apr.                                                               
May                                                                
June                                                               
July                                                               
Aug.                                                               
Sept.                                                              
Oct.                                                               
Nov.                                                               
Dec.                                                               
1947                                                               
Jan.                                                               
Feb.                                                               
Mar.                                                               
Apr.                                                               
May                                                                
June                                                               
July                                                               
Aug.                                                               
Sept.                       <                                      
Oct.                                                               
Nov.                                                               
Dec.                                                               
                                                                   

Source: United States Department of Commerce, Bureau of Foreign and

Domestic Commerce

172

NOTE:          MANUFACTURERS ’ INVENTORIES IN DURABLE GOODS INDUSTRIES       
See p» 156     (End of Month Values in Millions of Dollars)                  
                Auto-                 Non-     Elec-         Transpor-      
       Total   mobiles Iron and       ferrous  trical Other  tation    Other
Year   Du-     and     Steel and      Metals     Ma-   Ma-   Equipment Du-  
and    rabie   Equip-  Their          and      chin- ■ chin- (Except   rabie
Month  Goods    ment   Products       Products   ery   ery   Auto.)    Goods
1939   $4,637   $ 331  $1,394          $ 456   $377   $932     $166    $981 
Aug.   4,546   288     1,396          471        369   900   176         946
1940   5,374   403     1,602          471        464 1,066   306       1,062
1941   6,922   538     1,752          558        716 1,389   750       1,219
Jan.   6,146   478     1,762            489      558 1,210   509       1,140
Dec.   8,140   639     1,801            651      882 1,678   1,103     1,386
1942   8,938   721     1,833            691    1,063 1,879   1,351     1,400
May    8,819   721     1,814            695    1,017 1,892   1,258     1,422
Sept.  9,319   799     1,870            714    1,157  1,931  1,481     1,367
Oct.   9,467   805     1,892          696      1,208  1,961  1,537'    1,368
1943   9,852   787     1,879            695    1,332 2,067   1,778     1,314
May    9,900   813     1,841          676      1,335  2,115  1,811     1,309
1944   9,4U    776     1,784            695    1,254  2,069  1,596     1,240
Jan.   9,830   788     1,891            712    1,279 2,050   1,829     1,281
Feb.   9,673   796     1,827          706      1,280 2,076   1,729     1,259
Mar.   9,607   810     1,768            710    1,274 2,118   1,684     1,243
Apr.   9,503   799     1,731          706      1,245 2,137   1,649     1,236
May    9,462   795     1,753            701    1,286 2,115   1,569     1,243
June   9,441   774     1,767          705      1,277 2,096   1,587     1,235
July   9,362   760     1,799            697    1,264 2,099   1,524     1,229
Aug.   9,318   754     1,786            698    1,262 2,036   1,546     1,236
Sept.  , 9,218 760     1,778            678    1,235 2,041   1,508     1,218
Oct.   9,139   760     1,761            666    1,200 2,046   1,489     1,217
Nov.   9^025   728     1,734            669    1,208 2,015   1,453     1,218
Dec.   8,916   769     1,684            676    1,182  1,994  1,392     1,219
1945   8,626   685     1,663          658      1,152 1,993   1,292     1,183
Jan.   2,794   755     1,644            662    1,194 2,030   1,320     1,189
Feb.   8,750   761     1,618            666    1,165 2,037   1,308     1,195
Mar •  8,760   764     1,585            684    1,196 2,060   1,278     1,193
Apr.   8,789   764     1,591            685    1,196 2,061   1,285     1,207
May    8,772   738     1,638            664    1,186 2,052   1,297     1,197
June   8,751   719     1,656            663    1,206 1,992   1,322     1,193
July   8,686   711     1,689            664    1,183 1,953   1,316     1,170
Aug.   8,574   567     1,707            666    1,147 1,959   1,366 /   1,162
Sept.  ■ 8,564 573     1,719            664    1,127 1,950   1,362     1,169
Oct.   8,424   589     1,715            622    1,094 1,921   1,317     1,166
Nov.   8,228   580     1,728          612      1,064  1,946  1,142     1,156
Dec.   7,915   620     1,651          622        954  1,924  988       1,118

                                      173           '

MANUFACTURERS¹ INVENTORIES IN DURABLE GOODS INDUSTRIES

NOTEt
See p» 1$6         (Ehd of Month Values in Millions of Dollars)

             Auto-             Non-     Elec-         Transpor-       
      Total  mobiles Iron and  ferrous  trical Other  tation    Other 
Year  Du-    and     Steel and Metals   Ma-   Ma-     Equipment Du-   
and   rable  Equip-  Their     and      chin- chin-   (Except   rable 
Month Goods  ment    Products  Products ery   ery     Auto J    Goods 
1946                                                                  
Jan.  $7,968 ^650     81,630     $617   «991  «•,9W   $ 962     $1,170
Feb.  8,O6h          1,657                                            
Mar.  8,272          1.712     673                                    
Apr.                                                                  
May                *                                                  
June                                                                  
July                                                                  
Aug.                                                                  
Sept.                                                                 
Oct.                                                                  
Nov.                                                                  
Dec.                                                                  
1947                                                                  
Jan.                                                                  
Feb.                                                                  
Mar.                                                                  
Apr.                                                                  
May                                                                   
June                                                                  
July                                                                  
Aug •                                                                 
Sept.                                                                 
Oct.                                                                  
Nov.                                                                  
Dec.                                                                  

Sources United States Department of Commerce, Bureau of Foreign and
         Domestic Commerce

17U

NOTE:  MANUFACTURERS » INVENTORIES IN NONDURABLE GOODS INDUSTRIES        
See p« 156     (End of Month Values in Millions of Dollars)              
       Total   Chem-                 Paper                              
       Non-    icals        Food     and    Petro- Rub-  Textile- Other 
Year   du-     and          and      Allied leum   ber   mill     Nondu-
and    rable   Allied       Kindred  Pro-   Re-    Pro-  Pro-     rable 
Month  Goods   Products     Products ducts  fining ducts ducts    Goods 
1939   $5,304  $ 695        $1,276   $284   $628   $ 172 $828     $1,421
Aug.   5,278   683          1,310    279    605    167   801      1^33  
1940   5,797   778          1,280    323    634    205   935      1,642 
1941   6,458   855          1,632    350    663    236   1,074    1,648 
Jan»   5,963   815          1,416    341    638    223   981      1,549 
Dec»   7,607   999          2,068    384    711    247   1,220    1,978 
1942   8,026   1,092        2,036    414    702    281   1,299    2,202 
May    8,120   1,112        2,041    415    710    277   1,342    2,223 
Sept.  . 8,120 1,119        2,017    440    689    298   1,294    2,263 
Oct.   8,080   1,087        2,057    426    687    297   1,285    2,241 
1943   7,711   1,063        2,055    386    655    305   1,243    2,104 
May    7,560   1,036        1.908    390    652    323   1,174    2,077 
1944   7,910   1,117        2,274    392    683    309   991      2,244 
Jan.   7,975   1,100        2,286    374    661    309   1,070    2,175 
Feb.   7,993   1,114        2,258    380    666    318   1,043    2,224 
Mar»    7,955  1,122        2,218    387    675     323  1,023    2,207 
Apr.   7,911   1,138        2,180    395    681    328   999      2,190 
May     7,806  1,137        2,121    395    704     323  982      2,244 
June.  7,788   1,146        2,178    398    679     323  962      2,112 
July   •7,853  1,141        2,268    408    681    300   963      2,092 
Aug.   7,948   1,129        2,370    412    685     297  953      2,102 
Sept.  7,921   1,107        2,386    406    690    300   932      2,100 
Oct.   7,961   1,090        2,403    398    697     300  958      2,115 
Nov.   7,948   1,076        2,357    388    697     303  980      2,247 
Dec.   7,821   1,092        2,216    382    690    292   990      2,159 
1945   7,758   1,084        2,004    397    688    301   1,001    2,283 
Jan.   7,795   1,057        2,099    375    679     293  1,026    2,266 
Feb.   7,718   1,055        1,971    378    682     304  1,023    2,305 
Mar.   7,618   1,051        1,894    382    683 ,  302   1,021    2,285 
Apr.   7,504   1,046        1,841    382    679    301   997      2,258 
May    7,440   1,062        1,828    380    675    307   991      2,197 
June   7,416   1,067        1,833    387    674    307   965      2,183 
July   7,621   1,085        1,973    398    684     315  978      2,188 
Aug.   7,727   1,104        1,992    410    696    324   959      2,252 
Sept.  7,800   1,111        2,016    412    686    305   956      2,324 
Oct.   8,033   1,121        2,099    422    702    288   1,003    2,398 
Nov.   8,326   1,127        2,261    429    724    287   1,057    2,451 
Dec.   8,380   1,147        2,261    441    702    291   1,078    2,441 

175

NOTE:  MANUFACTURERS » INVENTORIES IN NONDURABLE GOOÚS INDUSTRIES                   
See p* 156    (End of Month Values in       Millions of Dollars)________________    
       Total  Chem-                  Paper                                         
       Non-   icals         Food     and    Petro- Rub-       Textile-    Other    
Year   du-    and           and      Allied leum   her        mill        Nondu-   
and    rabie  Allied        Kindred  Pro-   Re-    Pro-       Pro-        rabie    
Month  Goods  Products      Products ducts  fining ducts      ducts       Goods    
1946                                                                               
Jan.   3 8^31 11,145        $2,166           $700  $299                            
Feb.                                        706    -M.        1,%>)       2¿       
Mar.   8,1(02     1,161              w _    708               1.2011               
Apr.                                                                               
May                                                                                
June                                                                               
July                                                                               
Aug.                                                                               
Sept.                                                                              
Oct.                                                                               
Nov.                                                                               
Dec.                                                                               
1947                                                                               
Jan.                                                                               
Feb.                                                                               
Mar.                                                                               
Apr.                                                                               
May                                                                                
June                                                                               
July                                                                               
Aug.                                                                               
Sept.                                                                              
Oct.                                                                               
Nov.                                                                               
Dec.                                                                               

Source: United States Department of Commerce, Bureau of Foreign and
         Domestic Commerce

176

INDEXES OF BUSINESS INVENTORIES

NOTE?      (Adjusted for Seasonal Variation - 1939 = IDO)          
See d. 156                                                         
Year       Total           t                  Manufactures         
and        Business    Retailers Whole-         Durable Nondurable
Month      Inventories           salers Total   Goods   Goods     
1939       100.0       100.0     100.0  100.0    100.0  100.0     
Aug.       200.1*      201.8      99.3  100.0    98.9   100.9     
Mo         208.7       203.8     105.8  112.1*   U5.9   109.3     
29U        126.2       113.7     121.3  131*.6  11*9.3  121.8     
Jan.       115.8         208.3   111.5  121.3    131.9  112.0     
Dec.       145.8       126.6     137.5  158.9    175.7  11*11.3   
191*2      151*. 1     139.6     129.0  170.6    192.7  151.3     
May        156.3       ll*l*.l*  135.2  170.1   188.9   153.6     
Sept.      255.5       137.6     121.9  176.7   203.1   153.6     
Oct.       153.1       133.0     113.1* 177.7   206.0   153.0     
291*3      21*9.3      121.3     113.8  176.7    212.5  11*5.1»   
May        21*8.1      118.0     116.0  175.1»  212.1»  11*3.0    
291*1*     11*8.3      120.5     116.3  171*.3   203.0  11*9.1    
^an.       150.8       121.8     115.5  178.6   211.1*  11*9.9    
Feb.       11*9.1*     119.1     116.1  177.2    207.5  150.7     
Mar.       150.1       122.6     115.9  176.6    205.9  151.1     
Apr.       11*9.3      121.3     117.7  175.2   203.6   150.3     
May        11*8.7      120.8     120.1* 173.1*   202.8  11*7.7    
June       21*8.2      120.7     120.1* 172.5    202.9  11*5.9    
July       21*6.9      119.1     116.9  172.2   202.0   11*6.1    
Aug.       21*7.1        118.7   115.5  173.3    201.9  11*8.3    
Sept.      21*7.2      118.6     1U*.9  173.7    200.9  11*9.9    
Oct.       21*7.2        121.5   112.1* 173.0    198.9  150.1»    
Nov.       21*6.3        120.5   113.0  171.7   196.0   150.1»    
Dec.       21*5.1      120.8     116.6  168.1    192.2  11*6.9    
291*5      11*3.3      122.1»    113.1* 164.8    186.0  11*6.2    
Jan.       21*3.6    • 121.2     113.3  166.1    189.0  11*6.2    
Feb.       21*1.9      117.8     111.6  165.2    187.7  11*5.6    
Mar.       21*2.9      122.7     111.1  161».7  187.6   H*l*.7    
Apr.       21*3.1*     125.3     112.8  163.8   188.2   142.5     
May        21*3.2        126.3   112.8  162.7    187.9  11*0.7    
June       21*2.5        125.2   113.3  161.9    188.0  139.0     
July       21*1.7      122.9     108.7  163.1   187.1»   • 11*1.9 
Aug.       141.5       121.1     109.1» 163.7    185.9  H*l*.3    
Sept.      21*3.2      120.8     112.1» 165.9    186.9  11*7.6    
Oct.       144.5       121.7     115.8  166.7    183.5  152.0     
Nov.       21*6.0       123.1*   119.0  167.5    178.8  157.6     
Dec.       21*1*.5     119.8     121*.9 161*.!»  170.8  158.9     

177

INDEXES CF BUSINESS INVENTORIES

NOTE:      (Adjusted 1 ?or Seasonal Variation - 1939 8 100)        
See p. 156                                                         
Year       Total                                Manufactures       
and        Business    Retailers Whole-         Durable Nondurable
Month      Inventories           salers Total   Goods   Goods     
191*6                                                             
Jan.           M.5     122,1      121.6 I6J1.I1 171.3   158.lt    
Feb.         ilOt.it   119*0      121*0      Al 172.8   160.2     
Mar.       11*7.5                       167.7   177.0   159.6     
Apr.                                                              
May                                                               
June                                                              
July                                                              
Aug.                                                              
Sept.                                                             
Oct.                                                              
Nov.                                                              
Dec.                                                              
191*7                                                             
Jan.                                                              
Feb.                                                              
Mar.                                                              
Apr.                                                              
May                                                               
June                                                              
July                                                              
Aug.                                                              
Sept.                                                             
Oct.                                                              
Nov.                                                              
Dec*                                                              

SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic Commerce




697283 0—46-----12

178

BUSINESS ACTIVITY



            Sales of Retail Stores, Chain Stores and Mail-Order Houses


         These series are compiled by the Bureau of Foreign and Domestic Commerce, United States Department of Commerce, and published monthly in the Survey of Current Business» Special articles describing the series in detail appeared recently in the November 1943 and February 1944 issues of the Survey»

         Retail stores, as defined by the Census of Business, are those in which over half of the sales are at retail. Four or more retail stores operating in the same general line of business and centrally controlled are classified as chain. Other retail stores as defined are independents or mail-order houses. The Handbook includes a composite series of sales of all retail stores and a separate series of sales of chain stores and mail-order houses combined, as well as breakdowns by type of store»

         Sales of retail stores represent total operating receipts of stores after deductions of refunds or allowances for merchandise returned by customers. They Include receipts for services such as film development, automobile greasing and repairs of electric appliances when these services are obtained at retail stores. Also included are excise taxes, gasoline and other taxes which are paid by the manufacturer or wholesaler and passed along to the retailer. Excluded from sales are state and local sales taxes paid to the stores by the customer.

         The value series are in terms of current dollars, not adjusted seasonally, and represent the aggregate dollar sales of all retail stores in each category shown. The seasonally adjusted indexes are based on average daily sales.


179

BUSINESS ACTIVITY




Sales of Retail Stores, Chain Stores and Mailorder Houses (Continued)




The types of Stores for

which sales data are shown are as follows:




                         All Stores


                       All Durable Goods Stores, Combined


                          Automotive
                          Building Materials
                          Hane Furnishings
                          Jewelry

                        All Nondurable Goods Stores, Combined


                          Apparel
                          Drug
                          Eating and Drinking
                          Food
                          Filling Stations
                          General Merchandise

                         Other Retail Stores

180

SAIES OF ALL RETAIL STORES

NOTE: See p. 178             (Millions of Dollars)                        
             All                        Durable Goods Stores             
Year and     Retail          *                                           
Month        Stores  Total   Automotive      Building Home        Jewelry
                                        Materials     Furnishings        
1929 Total   $48,459 $14,180 #7,043            $3,846 $2,755      $536   
Average      4,038   1,182   587        321           230         45     
1930 Total   41,989  10,269  4,578      3,110         2,200       381    
Average      3,499   856     382        259           183         32     
1931 Total   34,752  7,372   3,447      2,006         1,618       301    
Average      2,896   614     287        167           135         25     
1932 Total   25,013  4,034   1,562      1,389         895         188    
Average      2,084   336     130        116           75          16     
1933 Total   24,517  4,844   2,367      1,343         959         175    
Average      2,043   404     197        112           80          15     
193b Total   28,743  5,959   3,U4       1,550         1,092       203    
Average      2,395   497     260        129           91          17     
1935 Total   32,791  1,626   4,237      1,864         1,290       235    
Average '    2,733   635     353        155           107         20     
1936 Total   38,338  9,863   5,559      2,392         1,615       297    
Average      3,195   822     463        199           135         25     
1937 Total   42,150  11,071  6,067      2,811         1,846       347    
Average      3,512   923     506                  234 154         29     
1938 Total   38,053  8,591   4,366      2,436         1,490       299    
Average      3,171   716     364        203           124         25     
1939 Total   42,042  20,379  5,549      2,735         1,733       362    
Average      3,503   865     462        228           144         30     
Aug.         3,422   853     430        250           148         25     
1940 Total   46,388  12,418  6,862      3,108         2,022       426    
Average      3,866   1,035   572        259           168         36     
1941 Total   55,490  15,604  8,544      3,862         2,611       587    
Average      4,624   1,300   712        322           218         49     
Jan.         3,687   1,018   622        223           143         30     
Dec.         5,783   1,300   560        327           274         138    
1942 Total   57,552  9,846   2,840      3,799         2,454       753    
Average      4,796   821     237        317           205         63     
May          4,755   882     247        366           219         50     
Sept.        4,943   794     212        328           196         58     
Oct.         5,404   845     208        349           220         68     
19h3 Total   63,680  9,339   2,751      3,366         2,258       964    
Average      5,307   778     229        281           188         80     
May          5,208   816     249        288           207         72     
1944 Total   69,484  9,967   2,912      3,620         2,453       982    
Average      5,790   831     243        302           204         82     
Jan.         4,901   670     223        235           154         58     
Feb. •       4,785   662     213        226           162         61     
March        5,598   794     238        277           190         89     
April        5,481   774     230        299           193         52     
May          5,827   889     262        333           224         70     
June         5,696   882     264        340           207         70     
July         5,534   844     262        339           184         59     
Aug.         5,788   841     260        , 313         202         66     
Sept.        6,034   832     238        313           208         72     
Oct.         6,179   903     254        342           228         80     
Nov.         6,236   881     238        315           230         98     
Dec.         7,426   995     230        287           272         206    

181

                     SAIES OF ALL RETAIL STORES                       
NOTE: See p. 178     (Millions of Dollars)                            
             All                        Durable Goods Stores         
Tear and     Retail                                                  
Month        Stores  Total   Automotive Building  Home        Jewelry
                                        Materials Furnishings        
1945 Total   $74,625 $11,012 $3,313      $3,995     $2,643    $1,061 
Average      6,219   918     276        333       220         89     
Jan.         5,439   TUI     239        265       176         60     
Feb.         5,113   688     219        238       172         58     
March        6,322   848     259        325       206         68     
April        5,461   822     242        324       197         60     
May          5,922   888     258        339           214     78     
June         6,079   921     278        352       211         80     
July         5,755   885     273        342       199         '    71
Aug.         6,086   906     286        348       198         73     
Sept.        6,202   909     284        348           205     72     
Oct.         6,936   1,079   321        415       256         87     
Nov.         7,039   1,099   336        373       281         109    
Dec.         8,271   1,227   318        336       327         246    
1946 Total                                                           
Average                                                              
Jan.         6,440   1,010   ■' ' 341   551           242     76     
Feb.         6,200   960     299        336       250         76     
March        7,192   1,118   331        409       296         82     
April                                                                
May                                                                  
June                                                                 
July                                                                 
Aug.            •                                                    
Sept.                                                                
Oct.                                                                 
Nov.                                                                 
Dec.                                                                 
1947 Total                                                           
Average                                                              
Jan.                                                                 
Feb.                                                                 
March                                                                
April                                                                
May                                                                  
June         1                                                       
July                                                                 
Aug.                                                                 
Sept.                                                                
Oct.                                                                 
Nov.                                                                 
Dec.                                                                 

SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

182

                                   SALES OF AIL RETAIL STORES                     
NOTEt See p. 178                      (Millions of Dollars)                       
                                     Nondurable Goods Stores                     
Year and                             Eating                                 Other
Month        Total    Apparel Drug   and      Food    Filling  General     Retail
                                     Drinking         Stations Merchandise Stores
192? Total   ♦34,279  ♦ 4,241 ♦1,690 1 2,125  ♦10,967 ♦1,787   ♦9,015      ♦4,454
Average      2,857    353     141    177      914     149      751         371   
1930 Total   31,720   3,922   1,554  2,061    10,384  2,265    7,838       3,696 
Average      2,643    327     129    172      865     189      653         308   
1931 Total   27,380   3,500   1,438  1,934    9,058   1,827    6,636       2,987 
Average      2,282    292     120    161      755     152      553            249
1932 Total   20,979   2,336   1,182  1,636    7,293   1,665    4,920       1,947 
Average      1,748    195     98     136      608     139      410            162
1933 Total'  19,673   1,930   1,066  1,430    6,776   1,532    4,982       1,957 
Average      1,639    161     89     U9       565     128      415            163
1934 Total   22,784   2,376   1,156  1,932    7,580   1,750    5,464       2,526 
Average      1,899    198     96     161      632     146      455            210
1935 Total   25,165   2,656   1,233  2,391    8,362   1,968    5,730       2,825 
Average      ' 2,097  221     103    199      697     164      478            235
1936 Total   28,475   3,102   1,409  2,742    9,013   2,318    6,366       3,525 
Average      2,373    259     117    229      751     193      531            294
1937 Total   • 31,079 3,323   1,527  3,284    9,708   2,641    6,673       3,923 
Average      2,590    277     127    274      809     220      556         327   
1938 Total   29,462   2,998   1,474  3,181    9,512   2,696       6,145    3,456 
Average      2,455    25o     123    265      793     225      512            288
1939 Total   31,663   3,259   1,563  3,520    10,165  2,822       6,475    3,859 
Average      2,639    272     130    293      847     235      540         322   
Aug.         2,570    220     130    321      868     265      472            293
194.0 Total  33,970   3,441   1,637  3,874    10,906  2,954    6,847       4,311 
Average      2,831    3,87    136    323      909     246      571         359   
1941 Total   39,886   4,157   1,821  4,796    12,576  3,454    7,931       5,151 
Average      3,324    346     152    400      1,048   288      661         429   
Jan.         2,670    248     135    319      903     223      459         382   
Dec.         4,483    570     207    454      1,221   297      1,141       592   
1942 Total   47,706   5,193   2,185  6,173    15,755  3,021    9,015       6,364 
Average      3,976    433     182    514      1,313   252      751         530   
May          3,873,   384     173    511      1,316   278      676            533
Sept.        4,149    465     184    563      1,367   258      778         534   
Oct.         4,559    537     197    596      1,486   250      906         586   
1943 Total   54,341   6,323   2,588  8,034    17,450  2,453    9,977       7,516 
Average      4,528    527     216    670      1,454   204      831            626
May          4,392    482     214    674      1,430   217      769         606   
1944 Total   59,517   6,869   2,811  9,351    IB,989  2,603      10,854    8,o4o 
Average      4,960    572     234    779      1,582   217      905            670
Jan.         4,231    424     212    711      1,429   191      669         595   
Feb.         4,123    406     202    670*     1,368   187      690         599   
March        4,8o4    574     225    743      1,493   207      859         704   
April        4,707    567     217    749      1,494   201      834            645
May          4,938    560     233    774      1,579   231      884            677
June         4,814    508     230    769      1,612   235      819            640
July         4,690    429     231    782      1,664   232      735            617
Aug.         4,946    499     232    832      1,664   227         .833        659
Sept.        5,202    618     236    825      1,697   224      940            663
Oct.         5,276    647     241    848      1,618   225      1,011       686   
Nov.         5,355    688     235    808      1,581   220      1,116       706   
Dec.         6,431    950     317    840      1,790   223      1,464          847

183

                                               SAIES OF ALL RETAIL STORES                              
NOTE: See p« 178                                 (Millions of Dollars)                                 
                                               ”nondurable Goods-Stores-                               
Year and         Eating                                       Other                                    
Month            Total    Apparel Drug     and       Food     Filling General      Retail              
                                                      Drinking,             Stations Merchandise Stores
1945 Total       $63,613   $ 7,632  $2,960   $10,138    $19,751   $2,978    $11,621     $8,533         
Average          5,300        636      2U7        81x5      l,6Ux       21x8          9 68          712
Jan.             lx,699       509      224       790      1,531       207         773         664      
Feb.             4,426       482      212       720      1,449       190         764         608       
March            5,474       757      239       «25      1,647       234       1,041         731       
April            4,639       507      220       782      1,452       222         813         61x3      
May              5,034       567      237       847      1,567       245         886         686       
June             5,158       604      239       851      1,629       254         905         677       
July             4,870       48 1      239       851      1,592       253         792         662      
Aug.             5,180       548      21x2       905      1,675       264         846         700      
Sept.            5,292       650      238       875      1,677       266         920         667       
Oct.             5,856       779      250       917      1,763       288       1,106         752       
Nov.             5,940       774      251       881      1,790       277       1,197         770       
Dec.             7,044       973      368       894      1,979       279       1,578         973       
1946 Total                                                                                             
Average                                                                                                
Jan.             "^W     ‘557 ~"'W '   871    '1>819 ” 290       871’      764                         
Feb. s           5,248       558      250       793      1,720       256         898         774       
March            6,075       736      268       899      1,922       297       1,122      _ 831        
April                                                                                                  
May                                                                                                    
June                                                                                                   
July                                                                                                   
Aug.                                                                                                   
Sept.                                                                                                  
Oct.                                                                                                   
Nov.                                                                                                   
Dec.                                                                                                   
1947 Total                                                                                             
Average                                                                                                
Jan.                                                                                                   
Feb.                                                                                                   
March                                                                                                  
April                                                                                                  
May                                                                                                    
June                                                                                                   
July                                                                                                   
Aug.                                                                                                   
Sept.                                                                                                  
Oct,                                                                                                   
Nov.                                                                                                   
Dec.                                                                                                   

SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

INDEXES OF SAIBS OF ALL RETAIL STORES

Daily Average Sales Adjusted for Seasonal Variation

NOTEs See p. 176      _________(1935-39 = 100)_______________________________     
Year   All               Durable Goods Stores                All Retail Stores:  
and    Retail         Auto-  Build-     Heme                 Index Adjusted for  
Month  Stores         motive Mate-      Furnish-             Price Changes       
               Total         rials      ings        Jewelry                      
1929   125.3   11)9.2 136.6  157.1      172.7      171).O           105.1        
1930   108.6   108.0  88.8   127.1      137.9      123.7             9^.6        
1931   89.9    77.6   66.9   82.0       101.1s     97.7              89.1        
1932   611.7   l)2.1s 30.3   56.7       56.1       61.0              72.8        
1933   63.1s   51.0   1)5.9    511.9    ' 60.1     56.8              73.6        
1931s  71s.3   62.7   6O.h   63.3       68.5       63.9              78.1        
1935   8U.8    80.2   82.2   76.2       80.8       76.3              86.8        
1936   99.1    103.8  107.8  97.7       101.3      96.6             100.3        
1937   109.0   116.5  117.7  11U.8      115.7      112.8            105.1)       
1938   98.1s   90.1s  811.7     99.5    93.1)      97.0              97.6        
1939   108.7   109.2  107.6  111.7      108.7       117.1)          110.0        
^ Aug. 108.8   U1.5   110.2  115.0      109.1)      111). 9         111.1        
19ls0  120.0   130.6  133.1  127.0*     126.8      138.1)           119.1)       
191sl  11)3.5  161s.l 165.7  157.8      163.7      190.5            132.3        
Jan.   132.2   158.9  173.6  1111.1     139.9        153.3          129.1)       
Dec.   151.6   160.3  153.11 172.5      159.0        185.5          130.6        
191s2  U8.8    103.6  55.1   155.2      153.8        2U).5          120.9        
May    11)3.0  103.9  52.9   167.0      151.1      212.1            117.5        
Sept.  150.2   98.0   H8.6   11)5.6     151.0       , 273.0         120.6        
Oct.   151).l) 97.8   118.7  11)3.6     153.6      267.8            122.5        
191)3  161).7  98.2   53.1)  137.5      1U.6       312.9            123.9        
May    156.5   96.2    53.5  131.1      11)1.5     298.0            116.1)       
W      179.7   101).8 56.5   11)7.9     153.8      318.8            132.1        
Jan.   175.6   103.6  55.8   150.6      11)6.7     306.0            131.2        
Feb.   173.9   103.2  56.1   11)8.3     11)3.0     327.8            130.5        
March  177.9   106.6  55.6   11)3.6     11)6.2      1)60.7          133.3        
April  169.6   99.7    55.1  H)l).l)    11)3.8     261).O           126.1        
May    171).5  102.5  58.5   1113.1     11)7.1     285.7            128.9        
June   171).l) 1011.2 57.9   11)9.1     152.0        275.1          128.6        
July   179.1)  108.9  58.li  162.9      152.5      299.6            131.3        
Aug.   180.7   102.9  57.1   11)5.1     D)7.0       3011.9          131.7        
Sept.  179.1   1011.2 55.5   11)2.0     159.3      332.9            130.5        
Oct.   185.0   108.3  58.7   U)7.1>     161). 7    331s. 2          131s.9       
Nov.   192.0   308.0  56.0   11)9.5     168.3        335.8          139.8        
Dec.   187.7   105.6  51.6   151.0      169.6        317.3          136.2        

185



INDEXES OF SALES OF ALL RETAIL STORES

Daily Average Sales Adjusted for Seasonal Variation

NOTE: See p. 17 8              (19 35-39 = 100)

                   Durable Goods Stores           All Re-bail Stores:
Tear  All                 Build-                  Index Adjusted for 
and   Retail Total Auto-  ing    Home     Jewelry Price Changes      
Month Stores       motive Mate-  Furnish-                            
                          rials  inss                                
191*5 193*0  115.8  64.3  163.2  165.7     344.6  138.1              
Jan.  193.0  111.5  59.1  164.0  162.2     307.7  139.9              
Feb«  193.2  111.5  59.9  163.0  158.8     321.8        11*0.3       
March 193.8  112.7  60.7  163.1  158.6    31*3.5  140.8              
April 175.3  106.4 58.0   156.4  146.6     310.5  127.3              
May   177.6  102.6 57.6   11*5.5 11*1.1*  315.1»  127.7              
June  182.8  108.6  60.9  153.9  155.3    301*. 6 130.2              
July  191.1* m*.9  60.8   164.4  164.8     367.8  135.8              
Aug.  189.5  110.6  62.7  161.0  11*1*.5   336.8  131*.6             
Sept. 189.2  116.9 67.0   162.7  163.3     346.6  135.0              
Oct.  202.lt 125.5 73.5   172.1  178.3     352.8         144.5       
Nov.  215.8  135.1 79.0 ' 177.1* 205.3     373.1        153.1*       
Dec.  230.5  130.5 71.1   176.1* 203.9     378.3        11*9.2       
191*6                                                                
Jan.  228.1* 151.2  8U.5  216.6  220.6     388.6  161.9              
Feb.  231*.7 155.7 81.8   230.1  229.4    1*19.0  266.5              
March 231.8  153.1  78.7  221.0  236.2    1*28.7  163.6              
April                                                                
May                                                                  
June                                                                 
July                                                                 
Aug.                                                                 
Sept.                                                                
Oct.                                                                 
Nov.                                                                 
Dec.                                                                 
291*7                                                                
Jan.                                                                 
Feb.                                                                 
March                                                                
April                                                                
May                                                                  
June                                                                 
July                                                                 
Aug.                                                                 
Sept.                                                                
Oct.                                                                 
Nov.                                                                 
Dec.                                                                 

SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic
            Commerce

186

INDEXES OF SAIES OF ALL RETAIL STORES


Daily Average Sales Adjusted for Seasonal Variation
NOTE: See p. 178                (1935-39 » 100)

Nondurable Goods Stores                                               
Year                          Eat-             Fill-  Gener-         
and                           ing à           ing     al       Other 
Month   Total  Apparel Drug   Drink-  Food    Sta-    Merchan- Retail
                              ing             tions   dise     Stores
1929    117.5   138.3  117.3  70.3    117.3   71.8     11*3.6  126.6 
1930    108.7   127.9  107.8  68.2     111.0  91.0     121*.9  105.1 
1931   93*9    m*.i    99.8   64.0     96.9   73.1*    105.7   81*.9 
1932   71.9    76.2    82.0   51*. 1  78.0    66.9     78.1*    55.3 
1933    67.1*  62.9    71*.O   1*7.3   72.5   61.5     79.1*   55.6  
193h    78.1    77.5   80.2    63.9   81.1    70.3      87.0   71.8  
1935    86.3   86.6    85.5   79.1     89.1*  79.1      91.3   80.3  
1936    97.6   101.1   97.8   90.7     96.4   93.1     101.1*  ■100.2
1937    106.5  108.3   105.9  108.6   103.8   106.1    106.3   111.5 
1938   101.0   97.7    102.3  105.2    101.7   108.3    97.9   98.2  
1939   108.6   106.2   108.1* 116.1*  108.7   113.1*   103.1   109.7 
Aug.   307.9    106.3  106.1* Hl*.9   108.6    112.7  102.7    108.1 
191*0   116.5  112.2   113.6  128.1   116.6    118.7   109.1   122.6 
191*1   136.7  135.5   126.1* 158.6   131*.5   138.8   126.3   146.4 
Jan.    123.5   123.3  118.6  11*0.1   123.8  125.6    113.3   127.1*
Dec.    148.8  11*5.8  137.3  176.3   150.0    148.8  131.7    159.8 
191*2   163.6  169.3   151.6  201*. 2 168.5   121.1*   11*3.6  180.9 
May     155.8  11*8.0  11*3.5 195.7   162.0   121*. 6 133.7    178.2 
Sept.   167.2  171.0   151*.0 211.5   171*. 1  118.5   11*6.7  181*.O
Oct.    172.9  170.0   163.2  227.3    180.3   115.0   151.6   191.6 
191*3  186.3   206.1   179.6  265.7   166.6    98.5   158.9    213.7 
May    176.2   181.1   177.3  257.7    177.8  97.9     11*9.3  200.8 
191*1* 201*.0  223.9   195.1  309.3   203.0   iol*.6  172.9    228.6 
Jan.    199.1  219.9   B6.h   312.8   193.6    106.8   165.9   227.3 
Feb,    197.0  220.6   181.2  305.5   190.6    110.0   165.7   223.7 
March   201.2  226.6   192.5  301.1*  191*.7   106.3  172.1    233.1 
April  192.1*  201*.7  188.0  301.5    190.8  98.6     161.5   215.6 
May'   197.9   211.8   192.8  296.2   199.9    103.3   168.4   217.3 
June   197.3   201.0   195.3  299.1   203.2   101*.8   163.5   217.5 
July   202.1*  221.2   189.8  296.2   203.6    101.2   173.1*  230.3 
Aug.    206.0  239.1   189.3  296.5    207.5  98.1     176.6   231.3 
Sept.   203.5  217.2   195.1* 309.6    205.7   100.7  172.6    226.0 
Oct.   210.0   222.2   203.5  323.0    210.1  105.1*   178.6   235.0 
Nov,   219.1*  21*8.5  206.1  337.2    212.0   IO8.5   189.2   250.1 
Dec.   211*.!* 21*1.1* 210.7  326.1*  2111.2   112.3  176.8    235.8 

INDEXES OF SAIES OF ALL RETAIL STORES



Daily Average Sales Adjusted for Seasonal Variation

NOTE: See p. 178      _______ (1935-39 ■ 100)

                             Nondurable Goods Stores                        
Year  Eat-            Fill- Gener-                                          
and   ing &           ing    al       Other                                 
Month Total Apparel Drug Drink- Food Sta- Merchan- Retail                   
      ing             tions dise     Stores                                 
191*5 218.1    21*8.8    205.1* 335.3    211.2   119.6    185.1    21*2.6   
Jan*  219.6    256.5    197.0   31*7.8    211.7   U2*.9    185.1*    21*2.1*
Feb.  219.8    270.2    197.0   31*0.1    208.6   115.8    191.5    235.8   
March 220.2    258.8    203.1 331*.7    206.9   118.7' 198.6    21*0.1*     
April 197.8    211.7 < 192.7   314.8    193.8   109.9    165.6    217.8     
May   202.1    215.2    196.3 323.9    198.5   109.7    169.8    221.0      
June  207.0    231.6    200.7   330.7    196.9   111.5    178.4    227.6    
July  216.3    259.7    197.8   322.6    202.6 111.5    190.9    250.1»     
Aug.  215.2    260.$    197.0   322.3    207.2   113.6    180.1    246.5    
Sept. 212.8    236.7    198.3 328.6    208.9   123.2    176.7    236.3      
Oct.  227.5    259.2    209.5 31*9.5    221*.O   132.0    188.7    21*8.2   
Nov.  242.1    277.4    220.0 367.6    238.5 135.6    200.7    271.3        
Dec.  236.6    21*7.6    21»1*.9 31*7.5    238.8   12*0.5    191.7    270.9 
191*6                                                                       
Jan.  253.6    279.9    226.1 383.6    251.4 161.5    208.7    280.9        
Feb.  260.1*    313.2    231.5 371*.l*    21*7.5 155.9    221*.6    300.5   
March 257.1*    306.7    229.5 36l*.8    21*5.6 153.5    232.0    283.8     
April                                                                       
May                                                                         
June                                                                        
July                                                                        
Aug.                                                                        
Sept.                                                                       
Oct.                                                                        
Nov.                                                                        
Dec.                                                                        
191*7                                  > •                                  
Jan.                                                                        
Feb.                                                                        
March                                                                       
April                                                                       
May                                                                         
June                                                                        
July                                                                        
Aug.                                                                        
Sept.                                                                       
Oct.                                                                        
Nov.                                                                        
Dec.                                                                        
                                                                            

SOURCE: United States Department of Comnerce, Bureau of Foreign and Domestic
            Commerce

288

             RETAIL SALES OF CHAIN STORES   AND MAI BORDER HOUSES         
NOTE: See p. 178          (Millions of Dollars)                           
              in---                                                       
             Chain à                   Durable Goods  Stores              
Year and     Mail-                                    Home                
Month        Order    Total      Auto-      Building  Furnish-     Jewelry
             Sales               motive     Materials ings                
1929 Total   $10,1*12 $1,689     $ 71*6     $ 515     $ 392          $  36
Average      868      11*1       62         1*3       33                 3
1933 Total   6,618    530        191        182       146               11
Average      552      1*1*       16         15        12                 1
1935 Total   8,01*0   828        355        289       162               22
Average      670      69         30         21*       13                 2
1936 Total   8,960    1,005      398        370       208               29
Average      71*7     81*        33         31        17                 2
1937 Total   9,1*26   1,091      1*07       1*07      21*3             31*
Average      785      91         31*        31*       20                 3
1938 Total   8,872    951*       336        385       203               30
Average      739      79         28         32        17                 3
1939 Total   9,570    1,01*9     372        1*00      239          38     
Average      798'     87         31         33        20                 3
Aug.         756      93         31*        36        20                 3
19h0 Total   10,382   1,156      1*01*      1*1*6     260               46
Average      865      96         31*        37        22                1*
19^1 Total   12,1*31* 1,1*29     488        561*      312               65
Average      1,036    119                   1*7       26                 5
Jan«         790      81*        29         31*       17                 3
Dec«         1,1*52   133        1*2        1(2       31*               15
19^2 Total   U*,051*  1,220      296        576       263               85
Average      1,171    102        25         ■ 1,8     22                 7
May          1,157    108        23         59        20                 6
Sept.        1,191    106        25         53        21                 7
Oct.         1,31*3   111*       26         55        25                 8
191*3 Total  11*,1*31 1,221*     313        558       21(0              U3
Average      1,203    102        26         1*7       20                 9
May          1,182    106        28         1*9       20                 8
19hh Total   15,1*81* 1,291      335        592       248              116
Average      1,290    108        28         1*9       21                10
Jan.         1,080    83         21         1*0       15                 7
Feb.         1,01*8   79         21         35        16                 7
March        1,21*6   91*        23         1*2       19                11
April        1,252    96         21*        1*7       19                 6
May          1,295    109        28         52        20                 8
June         1,265    113        30         55        20                 8
July         1,211*   11U        31         58        IB                 7
Aug.         1,21*1   109        30         51        20                 8
Sept«        1,339    112        30         53        21                 9
Oct«         1,393    125        31         60 •      25                 9
Nov.         1,1*03   123        33         53        26           12     
Dec«         1,706    131*       31*        1*5       30                25
             189                                               
             RETAIL SAIES OF CHAIN STORES AND MAIL-ORDER HOUSES
NOTE: See p. 1?8            (Millions of Dollars)              
            .                   Durable Goods Stores                                
Tear and    Chain &                                                             .   
Month       Mail-                                    Home                           
            Order     Total Auto-    Building     Furnish- Jewelry                  
            Sales              motive Materials ings                                
19115 Total $ 16,130 $ 1,1*50   * 371    *  675     $  280    $121*                 
Average     1,31*1*      121       31           56            23           10       
Jan.        1,163       92        21*           1*5            17            7      
Feb.        1,301*       85       23          39            17            7         
March       1,1*30      107       28           50            22           8         
April       1,166      305       26          53           19           7            
May         1,258      111*       27           58            21           9         
June        1,309      121      31         60           21          9               
July        1,201* x ■ 116       31           56            20            8         
Aug.        1,21*5      122        31*           59            20            9      
Sept.       1,301     125      32         63           21          9                
Oct.        1,501*      151       35          77           29          10           
Nov.        1,51*7       11*8        37           65            33            13    
Dec.        1,900      161*       1*5   '      51            39           28        
1946 Total  1,398     132     "38“        60         “25"         9                 
Average     1,359      127       35          58           26           8            
Jan.        1,638       11*1*        1*0            61*             31             9
Feb.                                                                                
March                                                                               
April                                                                               
May                                                                                 
June                                                                                
July                                                                                
Aug.                                                                                
Sept.                                                                               
Oct.                                                                                
Nov.                                                                                
Dec.                                                                                
W Total                                                                             
Average                                                                             
Jan.                                                                                
Feb.                                                                                
March                                                                               
April                                                                               
May                                                                                 
June                                                                                
July                                                                                
Aug.                                                                                
Sept.                                                                               
Oct.                                                                                
Nov.                                                                                
Dec.                                                                                

Source: United States Department of Commerce, Bureau of Foreign and Domestic

Conmerce

190

              RETAIL SAIES OF CHAIN STORES AND MAIL-ORDER HOUSES NOTE: See p. 178           (Millions v of Dollars)

                          Nondurable Goods Scores'                      
Year                               Eat-           Fill- Gener-         
and          Total   Apparel Drug  ing &  Food    ing   al       Other 
Month                              Drink-         Sta-  Merchan- Retail
                                   Ing            tions dise     Stores
1929 Total   $ 8,723 1 1,197 ♦ 312 $ 299  $3,1*75 $ 605 $ 2,271* $ 561 
Average      727     200     26    25     290     50    190      1*7   
1933 Total   6,088   589     267   182    2,591*  51*1* 1,589    323   
Average      507     1*9     22    15     216     1*5   132      27    
1935 Total   7,212   758     317   2k8    2,916   1*23  2,121*   k26   
Average      601     63      26    21     21*3    35    177      36    
1936 Total   7,955   913     352   270    3,083   1*03  2,1*28   506   
Average      663     76      29    22     257     31*   202      k2    
1937 Total   8,335   989     378   290    3,170   375   2,590    51*3  
Average      695     82      31    21*    26k     31    216      1*5   
1938 Total   7,918   913     377   288    3,110   316   2,1*1*8  466   
Average      660     76      31    21*    259     26    201*     39    
1939 Total   8,521   991     1*00  301*   3,31*0  288   2,693    505   
Average      720     83      33    25     278     21*   221*     1*2   
Aug.         663     66      ’ 33  25     273     27    201      39    
19h0 Total   9,226   1,071   1*25  321*   3,61*5  280   2,921*   557   
Average      769     89      35    27     301*    23    21*1*    k6    
19Ü1 Total   11,005  1,309   1*79  361    1*,352  306   3,532    666   
Average      917     209     1*0   30     363     26    291*     56    
Jan.         706     71      36    28     312     21    189      50    
Dec.         1,319   179     58    36     k28     26    518      76    
191*2 Total  12,831* 1,61*5  571   1*15   5,281*  250   3,873    796   
Average      1,070   137     1*8   35     1*1*0   21    323      66    
May          1,01*9  128     1*1*  33     1*58    23    295      68    
Sept.        1,086   11*3    1*6   36     1*35    21    338      66    
Oct.         1,229   166     52    39     1*80    20    1*01     71    
191*3 Total  23,207  1,861   65k   k81    5,193   189   3,901*   925   
Average      1,201   155     55    1*0    1*33    16    325      77    
May          1,077   11*3    53    1*0    1*1*0   17    309      75    
191*1* Total 14,193  2,050   681   509    5,591*  188   l*,2O9   962   
Average      1,183   171     57    1*2    k66     16    351      80    
Jan.         997     126     52    1*2    1*1*2   11*   2W       73    
Feb.         969     121     51    39     1*11*   11*   257      73    
March        1,152   179     57    1*2    1*51    15    322      85    
April        1,156   185     53    1*1    1*56    15    328      79    
May          1,187   178     55    1*3    1*72    17    31*0     83    
June         1,152   165     51*   1*2    1*75    17    320      78    
July         1,201   131*    55    u2'    k80     17    297      75    
Aug.         1,232   11*3    55    1*3    1*62    16    332      80    
Sept.        1,227   180     56           1*81    16    370      80    
Oct.         1,268   187     58    1*1*   1*76    16    1*01*    81*   
Nov.         1,280   193     57           1*57    16    k29      86    
Dec.         1,573   260     78    1*6    527     16    560      86    

191

BETAIL SAIES OF CHAIN STORES AND MAIL-ORDER HOUSES

NOTE: See p. 178     (Millions of Dollars)                                  
                           Nondurable Goods i    Stores                     
Year                          f      Eat-        Fill-    Gener-           
and                                  ing &       ing      al         Other 
Month       Total    Apparel   Drug  Drink- Food Sta-     Merchan-   Retail
                                     ing         tions    dise       Stores
19115 Total ♦Hi, 680 $2,213   8 701* $ 531  85,595 8 215  8 1*,393 $ 1,029 
Average     1,223    28h      59     Mi     ¿166 IB       366        86    
Jan.        1,070    IV       53     Mi     Mi2  15       290        81    
Feb.        1,019    HiO      50     1*0    1*17 11*      28h        71*   
March.      1,323    21*9     57     h5     1*75 17       392        88    
April       1,061    151*     52     1*1    1*11 16       320        77    
May         1,1113   171*     55     Mi     Mill 18       327        82    
June        1,188    191      57     1*3    1*58 18       31*0       82    
July        1,089    U5 .     57     Mi     1*32 18       333        79    
Aug.        1,123    151*     56     Mi     Mi2  19       321*       83    
'Sept.      1,176    175      55     Mi     1*59 19       31*5       80    
Oct.        1,353    210      60     h8     500  21       1*22       93    
Nov.        1,399    211      61     U6     522  20       Mi5        93    
Dec.        1,736    265      91     h8     593  20       601           217
19^6 Total                                                                 
Average                                                                    
Jan.        1,266    161                 1“ 51*1 21       339        91*   
Feb.        1,233    162      61     Mi     515  19       337        91*   
March       l,li91i  230      66     1*9    583  22       1*39          207
April                                                                      
May                                                                        
June                                                                       
July                                                                       
Aug.                                                                       
Sept.                                                                      
Oct.                                                                       
Nov.                                                                       
Dec.                                                                       
19h7 Total                                                                 
Average                                                                    
’ Jan.                                                                     
Feb.                                                                       
March                                                                      
April                                                                      
May                                                                        
June                                                                       
July                                                                       
Aug.                                                                       
Sept.                                                                      
Oct.                                                                       
Nov.                                                                       
Dec.                 •------• WMV      ■MMM       .......             •MMMW

Source: United States Department of Commerce, Bureau of Foreign and Domestic
           Commerce

192

      INDEXES OF RETAIL SALES OF CHAIN STORES AND MAIL-ORDER HOUSES    
      Dally Average Sales Adjusted for Seasonal Variation              
NOTE: See p. 178                (1935-39 . 100)                        
Year  All Chain    __________Durable Goods Stores______________________
and   and Mail-    Total    Automo-     Building Home        Jewelry   
Month Order Sales_____________tive________Materials Furnishings__      
1929  116.6      171.3      199.5        139.3       185.9    115.5    
1933  74.1      53.8       51.0        49.1       69.6      36.9       
1935  89.6       84.0       95.1         78.0       76.5      71.8     
1936  99.9      102.0      106.4        100.1       98.9      94.2     
1937  105.1      110.7     109.0        109.8       115.1     112.0    
1938  98.9      96.8       90.0        104.0       96.1      98.7      
1939  106.7     106.4       99.5        108.1       113.2     123.0    
Aug.  107.2      105.0       98.2        105.5       113.9     118.8   
1940  115.7      117.3      108.2        120.5       123.3     148.5   
1941  138.6      145.1      130.6        152.6       147.9     209.7   
Jan.  125.3      132.6      123.3        139.7       131.4     169.0   
Dec.  149.4      143.9      125.7        157.7      143.0     204.4    
1942  156.7      123.9       79.3        155.8       124.5     275.7   
May   151.5      126.0       72.8        175.6       116.1    239.9    
Sent, 160.1      119.6       77.4        144.8       121.6     311.0   
Oct.  159.9      119.8       81.8        140.4       123.6     304.3   
1943  160.8      124.4       83.9        150.9    ' 113.9     364.1    
May   153.9      123.9       86.4        147.9       115.2     344.6   
1944  172.6      131.1       89.5        160.0       117.7     376.1   
Jan.  171.3      128.3       78.8        168.7       109.9     365.5   
Feb.  165.6      124.6       81.3        154.8       108.0     394.5   
Mar.  170.5      128.4       79.4        151.9       111.2     548.6   
Apr.  163.4      123.3      .81.1        156.8       111.6     309.2   
May   169.8     123.0      85.3        149.7       112.2    328.8      
June  167.9      129.3       84.3        164.2       120.0     315.2   
July  172.2      141.6       92.4        186.0       119.3     353.9   
Aug.  176.1      123.0       85.1        149.5       107.4    367.6    
Sept. 172.8      127.8       93.0        144.8       119.9    395.4    
Oct.  178.2      137.0      100.2        158.3       126.8     392.8   
Nov.  182.6      145.3      110.9        167.4       130.4    393.2    
Dec.  174.9-     143.7       99.3        177.1       129.3     376.0   

193

                            INDEXES OF RETAIL SALES OF CHAIN STORES AND MAIL-ORDER HOUSES                                   
                                 Daily Average Sales Adjusted for Seasonal Variation                                        
NOTE» See B. 178                                                              (1935-39 s 100)                               
Year  All Chain                                                             Durable Goods Stores                            
and   and Mail-                                      Total            Automo-    Building     Home            Jewelry      
Month Order Sales                                                     tive       Materials    Furnishings                  
1945  179.8                                          147.4            99.3       182.5        133.2           400.6        
Jan.  184.6                                          137.8            87.0       179.7        121.4           357.7        
Feb.  181.4                                          139.4            90.6       178.5        121.9           376.0        
Mar.  184.0                                          144.6            96.7       181.7'       126.6           399.4        
Apr.  161.8                                          135.2            85.6       177.8        114.5           363.5        
May   164.8                                          129.5            80.7       166.4        115.5               369.7    
June  167.7                                          138.1            85.4       177.8        129.1           357.4        
July  177.3                                          145.3            94.1       181.5        130.4           428.6        
Aug.  175.5                                          137.5            96.1       172.8        110.6           394.5        
Sept  .         172.8                                143.9            103.2      171.1        129.1           406.0        
Oct.  186.9                                          158.4            110.6      194.7        242.1           407.9        
Nov.  200.6                                          174.7            126.6      205.2        168.2           430.7        
Dec.  196.8                                          174.8            132.1      197.3        171.6           437.4        
1946                                                                                                                       
Jan.  221.0                                          196.4            139.5      243.0        380.1           ’ Ù3U.2      
Feb.  223.3                                          206.3            139.3      266.1        lb 1.6          464.8        
Mar.  227.2                                          2Qk3             142.7      243.4        191.0           -471.2       
Apr.                                                                                                                       
May                                                                                                                        
June                                                                                                                       
July                                                                                                                       
Aug.                                                                                                                       
Sept                                                                                                                       
Oct.                                                                                                                       
Nov.                                                                                                                       
Dec.                                                                                                                       
1947                                                                                                                       
Jan.                                                                                                                       
Feb.                                                                                                                       
Mar.                                                                                                                       
Apr.                                                                                                                       
May   ------------                                                                                                         
June                                                                                                                       
July                                                                                                                       
Aug.                                                                                                                       
Sept  •                                          - - ---------        ------ ---                              MMMW^» «..MM 
Oct.                                                 ---^*------>---•            ------------ --------------- --- ---------
Nov.  ---                                            ■»■•■ ■ ■ '■■"•         --- ---                      --- ------------ 
D6C • ---■--- ..1» !■■■.■                            ------------.    ---------. ------------ --------------- -------1     
                                                                                                                           

Source: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

697283 0—46-----13

1S>1»

      INDEXES OF RETAIL SALES OF CHAIN STORES AND MAIL-ORDER HOUSES        
           Daily Average Sales Adjusted for Seasonal Variation             
NOTE: See p. 178                   (1935-39 = 100)_______________          
                          Nondurable Goods Stores                         
Year                             Eat-            Fill-  Gener-            
and   Total    Apparel    Drug   ing &      Food ing    al        Other   
Month                            Drink-          Sta-   Merchan-  Retail  
                                 ing             tions  dise      Stores. 
1929  109.8 131.1         85.7   106.9     111.3 167.6  94.4      114.4   
1933  76.6      64.5      73.3    65.1      83.1 150.5  65.9      65.8    
1935  90.3      83.0      87.0   88.6       93.4 117.2  86.4      87.1    
1936  99.6  100.0         96.4    96.3      98.7 111.6  98.8      103.3   
1937  104.4 108.3         103.5  103.6   101.5   103.8  105.5     111.1   
1938  99.2  100.0         103.3  102.9      99.6 87.6   99.7      95.3    
1939  106.7 108.6         109.8  108.8     107.0 79.8   109.6     103.2   
Aug.  107.5 110.2         109.5  108.2   107.9   78.1   110.8     102.8   
1940  115.5 117.3         116.6  115.4   116.7   77.6   119.0     114.0   
1941  137.8 143.4         131.5  129.0   139.3   84.7   143.8     136.1   
Jan.  124.4 130.5         123.3  120.8   125.8   80.0   129.4     115.1   
Dec.  150.1 158,0         143.6  136.6   156.6   88.0   150.2     151.3   
1942  160.7 180.2         156.4   148.4  169.2,  69.3   157.6     162.8   
May   154.7 158.0         148.6  143.3   166.2   70.7   151.8     163.1   
Sept. 165.1 182.9         158.1  152.1   173.4   66.5   165.2     163.3   
Oct.  164.9 181.5         168.4  157.2   171.5   64.2   165.1     167.6   
1943  165.3 203.8         179.2  171.7   166.3   52.4   158.9     189.0   
May   157.6 172.7         178.8  171.7   161.9   52.6   152.8     180.5   
1944  177.7 224.6         186.8  181.7   179.1   52.1   171.3     196.6   
Jan.  176.6 242.1         178.0  182.8   175.1   54.8   167.8     193.3   
Feb.  170.7 227.3         177.1  178.3   168.4   55.5   163.5     192.0   
Mar.  175.7 229.1         191.2   176.4  170.7   53.4   172.8     200.4   
Apr.  168.4 212.6         182.1  175.2   169.9   49.0   160.2     191.2   
May   175.6 217.2         182.7  184.2   179.0   51.1   168.7     192.5   
June  172.7 199.9         184.7  189.2   181.7   51.9   161.7     190.8   
July  176.0 213.5         186.7  188.6   181.8   50.1   165.2     201.3.  
Aug.  182.7 235.5         186.5  187.5   182.6   48.6   178.5     198.7   
Sept. 178.4 223.6         187.6  182.7   179.7   50.0   173.1     197.8   
Oct.  183.3 226.8         190.1  177.9   186.6   52.3   177.3     206.5   
Nov.  187.2 242.2         190.4  180.9   180.7   53.6   188.1     221.7   
Dec.  178.8 229.7         195.4  174.0   184.5   55.4   168.9     178.3   
                                 vs                                        
        INDEXES  OF RETAIL SALES OF CHAIN STORES AND MAIL-ORDER HOUSES     
NOTE:   Daily Average Sales Adjusted for Seasonal Variation                
See P.  178                   (1935-39 I 100)                             
                              Nondurable Goods  Stores                    
Year                       Eat-                 Fill- Gener-              
and                                ing &        ing     al         Other  
Month   Total     Apparel  Drug Drink-   Food   Sta-    Merchan- Retail   
                           ing                  tions dise       Stores   
1945    183.8    242.5     193.1   189.8 179.1  59.4     178.8       210.3
Jan«    190.4    270.2     181.5   193.1 180.7  56.6     190.7      206.5 
Feb.    186.6    271.4     180.3   189.6 174.3  57.1     186.8      203.9 
Mar.    188.9    270.7     189.4   188.8 170.5  58.8     197.5       207.2
Apr.    165.1    208.5     178.1  176.9  162.6  54.4     160.7       187.8
May     169.1    212.2     183.2   188.3 167.9  54.4     163.0       190.7
June    171.4    223.4     190.9 194.4   166.1  55.2     165.1      198.8 
July    181.3    241.8     193.2   195.4 172.9  55.4     181.3       199.0
Aug.    180.2    253.9     189.9   193.8 172.9  56.3     172.6       204.1
Sept.   176.4    223.6     187.3   185.1 177.4  61.0     166.4       204.5
Oct.    190.4    247.0     195.2   192.6 191.2  65.5     179.7      220.2 
Nov.    203.8    263.0     206.5   196.2 204.0  68.0     194.6       240.5
Dec.    199.5    234.6     228.1 185.5   210.7  70.5     179.8      243.2 
1946                                                                      
Jan.    2211.0   298.6     211.5 209.8   220.1! 81.8     222.3       239.3
Feb.    225.11   315.11    220.0   209.5 215.3  78.3     222.3       259.1
Mar.    230.11   3111.11   219.2   205.1 213.9  77J*    21*1.5 j^îL       
Apr.                                                                      
May                                                                       
June                                                                      
July                                                                      
Aug.                                                                      
Sept.                                                                     
Oct.                                                                      
Nov.                                                                      
Dec.                                                                      
1947                                                                      
Jan.                                                                      
Feb.                 f                                                    
Mar.                                                                      
Apr.                                                                      
May                                                                       
June                                                                      
July                                                                      
Aug.                                                                      
Sept.                                                                     
Oct.                                                                      
Nov.                                                                      
Dec.                                                                      
                                                                          
Source: . United States Department of Commerce, Bureau of Foreign and      
        Domestic Commerce                                                 

196


BUSINESS ACTIVITY



Business Population

These series are compiled by the United States Department of Commerce, Bureau of Foreign and Domestic Commerce and are published at irregular intervals in the Survey of Current Business.

A New Business is defined as one which is newly organized and is not the successor of a pre-exist-in^go^ng~concern.

A Discontinued Business is defined as one which has been completely liquidated and which does not conHnue^s⁻a"^olng~c6ncern under new ownership. The concept includes business failures as well as closures which occur for reasons other than financial loss.


A Business Transfer is defined as a change in ownership of a going concern. It covers (1) ordinary purcTîâs^âïS^sâle^ôf a business, (2) reorganization of a business e,g, incorporation and admission or dropping of a partner, and (3) transfer of a business to a trustee, receiver or executor.


ESTIMATED NUMBER OF OPERATING BUSINESS FIRMS, NEW BUSINESSES, DISCONTINUED BUSINESSES, AND BUSINESS TRANSFERS 1/

         Total Num-                       Business      Business         
Year     ber of Firms New Businesses   Discontinuances  Transfers 3/     
and      at Beginning         Percent          Percent          Percent 
Quarter  of Period ÿ  Number  of Total Number  of Total Number  of Total
MO       3,3O7,tOO    357,300   10.8   360,500   10.9   209,000 6.3     
Ml       3,301»,200   447,600   13.5   410,800   12.4   280,800 8.5     
M2       3,31x1,000   334,700   10.0   604,400   18.1   237,500 7.1     
MB       3,071,300    143,400   4.7    379,100   12.3   212,400 6.9     
1944     2,835,600    272,800 9.6      1x3,500   5.1    282,800 10.0    
I Qtr,   2,81*8,700   55,600    2.0    42,500  1.5      70,700  2.5     
II Qtr.  2,879,900    66,800    2.3    35,5oo  1.2      67,800  2.4     
Ill Qtr. 2,923,500    76,700  2.6      33,100  1.1      77,500  2.6     
IV Qtr.  2,961x,800   73,700    2.5    32,400  1.1      66,700  2.2     
M5       2,961»,800   421,700   14.2   151,700   5.1    346,000 11.7    
I Qtr.   3,012,900    90,500    3.0    42,500    1.4    96,300  3.2     
II Qtr.  3,065,600    87,800  2.9      35,ioo  1.1      84,400  2.8     
Ill Qtr. 3,134,100    206,000   3.4    37,400  1.2      83,200  2.7     
IV Qtr.  3,234,800    137,400   4.2    36,700  1.1      82,100  2.5     
M6       3,234,800                                                      
I Qtr.                                                                  
II Qtr.                                                                 
Ill Qtr.                                                                
IV Qtr.                                                                 
M7                                                                      
I Qtr,                      1                                           
II Qtr.                                                                 
HI Qtr.                                                                 
IV Qtr.                                                                 
                                                                        

V Figures include concerns without employees,
^ Quarterly data are as of the end of the quarter, 1945 data are preliminary, 3/ Firms in which there has been a change of ownership.

SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic Commerce


197

BUSINESS ACTIVITY




Industrial and Commercial Failtires

  The series on number and rate of failures of industrial and commercial enterprises is compiled by Dun & Bradstreet, Inc*, and published monthly in pun*8 Statistical Review*


  A failure is defined as "a concern which is involved in a court proceeding or a voluntary action which is likely to end in loss to creditors.” The figures on failures take into account assignments, voluntary and involuntary bankruptcies, receiverships, reorganisations and arrangements .under chapters X and XI of the Bankruptcy Act, compromises with creditors out of court, voluntary withdrawals with loss to creditors, and discontinuances following such actions as attachments, executions and foreclosures, if loss to creditors results*


  The monthly rate of failures represents the number of failures during a given month at an annual rate per 10,000 concerns listed in Dun & Bradstreet’s Reference Book for that month*


' The annual rate of failures represents the total number of failures in a given year per 10,000 concerns listed in Dun & Bradstreet’s Reference Book for July of that year*

  During the period for which data are,shown there have been two major revisions of the failure statistics resulting in material changes in the coverage* The first revision, in 1933, eliminated real estate companies, steamship lines, terminals, amusement places, etc* from coverage and resulted in the lowering, of the rate of failures item 2 to 3 points* The figures are given on the new basis only for 1933 and subsequent years*


  The second revision, in 1939, extended the coverage to voluntary discontinuances with loss to creditors, and provided for a fuller reporting of all attachments and foreclosures, resulting in loss to creditors* These additions raised the rate of failures about 16 points* The figures are given on the revised basis for 1939 and subsequent years. (See releases "Commercial and Industrial Failures, Monthly Since 1900", June 1945 and "Dun’s Insolvency Index, 1900-1945", March 1946, prepared by Marketing and Research Service, Dun & Bradstreet, Inc* See also 1942 Supplement - Survey of Current Business).


198

INDUSTRIAL AND COMMERCIAL FAILURES
NOTE: See p. 197

Tear                         Wholesa-        Tear                           Wholes#*                          
and     All Businesses  Manufacy /lers and   and    All Businesses          JIanufac-, lers and               
Month   Number Rate 1/  turerà “Retailers    Month  Number      Rate ¿/             turerà A/ ' Retailers    
1900    10,774 91.6     2,409 7,844          1945           810 4.2 .                     280             351
1901    11,002 90.4     2,441 7,965          Jan.   80              5.1     34                28             
1902    11,615 93.1     2,749 8,249          Feb.   66              4.8     17                30             
1903    12,069 94.0     3,039 8,440          Mar.   85              5.0     26                44             
1904    12,199 92.3     2,848 8,898          Apr.   90              5.7     26                49             
1905    11,520 84.9     2,726 8,475          May    72              4.4     26                34             
1906    10,682 76.8     2,490 7,843          June   61              3.7     19                32             
1907    11,725 82.8     2,913 8,419          July   72          4.5         19                3$             
1908    15,690 108.2    3,827 11,272         Aug.   56              3.2     21                22             
1909    12,924 87.1     3,030 9,524          Sept.  64              4.2     24                19             
1910    12,652 83.8     3,280 8,929          Oct,   62              3.7     24                22             
                                             Nov.   60              3.8     21                24             
1911    13,441 88.0     3,502 9,480          Dec.   42              2.5     23                12             
1912    15,452 99.8     3,839 11,011                                                                         
1913    16,037 98.1     4,242 11,145         1946                                                            
1914    18,280 117.6    4,620 12,851         Jan.   80          4.7         35                25             
1915    22,156 132.7    5,116 16,030         Feb.   92          6.1         29                36             
1916    16,993 99.7     4,196 11,923         Mar.        ___8k. 4«8_                          27             
1917    13,855 80.3     3,691 9,430          Apr.                                 •M»4MMWBB«B                
1918    9,982  58.7 .   2,766 6,494          May                                                             
1919    6,451  37.4     1,865 4,013          June               -----------                                  
1920    8,881  48.3     2,635 5,532          July                                                            
1921    19,652 101.9    4,495 13,999         Aug.                                                            
1922    23,676 119.8    5,682 16,923         Sept.                                                           
1923    18,718 93.4     4,968 13,064         Oct.   ------      ---------                                    
1924    20,615 100.0    5,208 14,393         Nov.                                                            
1925    21,214 100.4    5,090 15,161                «MB»«»*                                                  
1926    21,773 101.0    5,395 15,268         Dec.   ------                  ■--- ■■ ■ ---     ---:           
1927    23,146 106.4    5,682 16,082                                                                         
1928    23,842 108.5    5,924 16,477         1947                    ------ ..............■■■                
1929    22,909 103.9    6,007 15,417         Jan.               «MM-**»     ---MB---                         
1930    26,355 121.6    6,278 18,393         Feb.                                                            
1931    28,285 133.4    6,412 20,170         Mar.                                                       «EBBS
1932    31,822 154.1    7,279 22,624         Apr.               ---Wil » ■            ------.                
1933 2/ 19,859 100.3    4,615 14,105         May                            --- «■ mu         ........ ■---■■
1934    12,091 61.1     2,281 8,237          June                           IMMfe* *«W<’W*N                  
1935    12,244 61.7     2,427 8,419          July                                                            
1936    9,607  47.8     1,855 6,716          Auf .                                                           
1937    9,490  45.9     1,997 6,426          Sept.                                                           
1938    12,836 61.1     2,428 9,214                                                                          
1939 2/ 14,768 69.6     2,919 10,584         Oct.                                     ------- «■nail« ---    
1940    13,619 63.0     2,455 9,811          Nov.                                                            
1941    11,848 54.4     1,974 8,634          Dec.                                                            
1942    9,405  44.6     1,505 6,649                             ------                                       
1943    3,221  16.4     567   2,018 “                                                                        
1944    1,222  6.5      352   587        1/  Number of failures per 10,     .000 concerns                     
Jan.    120                   &          2/  Not strictly comparable with data                for            
Feb.    132             32    59              years prior to 1932                                            
Mar.    96     6.3      28               2/  Not strictly comparable with data                for            
Apr.    131    8.2      37              V    years prior to 1939                                             
May     148    9.3      34                   Includes mine operators                                         
June    110    7.2      31                                                                                   
July    91     5.7      23    49                                                                             
Aug.    77 ’   4.8      28    37                                                                             
Sept«   75     4.9      24    31                                                                             
Oct.    74     4.8      30    29        Source: Dun & Bradstreet                                             
Nov.    75     5.0      18    27                                                                             
Dec«    93     6.0      36    47                                                                             

199

BUSINESS ACTIVITY

Stock Prices

     These series are compiled by Standard and Poor’s Corporation, and are published in the Survey of Current Business» They are described as follows in the 191*2 Supplemeni^urvey of ¿urrent Business;

         These indexes, originally published as a relative of a 1926 base, have been computed on the broader 1935-39 base with changes in the number of companies included« The formula used is a "base-weighted aggregative" where the weighting factor is the number of shares of each stock outstanding in the base period» Certain modifications of this method have been found necessary to make allowance for the sale of new stock through the issuance of rights, consolidations, and for the addition of new securities necessary to maintain group representations as new corporations are formed in an industry» The index of 1*02 common stocks includes the industrial, public-utility, and railroad stocks, but not the bank and fire and marine insurance stocks»

     For a more detailed description of these series, see ’’’Long Term Security Price Index Record", published by Standard and Poor’s Corporation»


200

STOCK PRICE INDEXES

NOTE?   See p. 199                            (1935-39 a 100)                                  
                   /                                                   Other                   
                   Industrials                     Public      Rail-               Fire and   
        Combined               Capital  Consumers’ . Utilities roads   New York    Miar ine   
Monthly Index (402 Total(354 Goods(116  Goods(191      (28     (20     City Banks  Insurance  
Average Stocks)    Stocks)   Stocks)    Stocks)      Stocks)   Stocks) (19 Stocks) (18 Stocks)
1918    64.1       51.2                            70.0        182.1   70.3        42.4       
Nov.    68.5       54.3    --           ••••       74.5        197.3   71.1        43.0       
1919    74.6       65.6                 ------     70.5        186.5   87.9        54.0       
1920    67.8       59.8    ••           ------     63.6        169.6   86.3        5941       
1921    58.3       46.7    ----                    67.5        163.8   77.2        54.7       
1922    71.5       58.4    ------       ••         82.8        192.7   86.9        62.6       
1923    72.9       60.1                 ■VW        86.2        190.6   96.6        77.8       
1924    76.9       62.9    ».           ••••       92.1        203.5   108.5       89.0       
1925    94.8       79.9    ---•         1          110.9       237.5   144.7       109.7      
1926    105.6      90.3    75.4         98.0       116.9       265.1   166.1       113.7 .    
1927    124.9      107.0   92.0         122.5      135.5       315.8   204.9       136.3      
1928    158.3      139.4      118.8     167.6      173.9       340.9   280.2       212.2      
1929    200.9      171.1   175.2        179.8      274.1       390.7   473.8       221.1      
1930    158.2      127.0      132.4     125.3      250^7       331.3   320.4       163.1      
1931    99.5       78.5    71.9         91.2       172.8       191.3   178.0       110.4      
1932    51.2       41.8    32.5         49.5       92.1        69.5    98.6        45.8       
 1933   67.0       59.9    51.6         66.2       91.4        100.8   89.1        56.7       
1934    76.6       73.4    62.1         78.8       80.5        110.1   90.3        75.1       
 1935   82.9       82.2    72.7         89.4       83.9        90.2    91.5        97.0       
' 1936  117.5      115.2   113.9        119.2      122.1       136.5   115.5       111.6      
1937    117.5      118.1   I25.O        110.5      110.4       129.8   120.4       100.1      
1938    88.2       90.1    91.8         86.2       85.6        69.5    82.2        91.5       
1939    94.2       94.8    97.1         95.0       98.6        74.7    91.1        100.1      
Aug.    90.7       90.4    91.3         94.4       101.1       66.8       89.6     100.3      
1940    88.1       87.9    .90.2        90.7       95.8        71.1    90.7        102.0      
1941    80.0       80.4    83.2         78.3       81.0        70.6       85.4     108.3      
Jan.    85.0       84.7    88.9         85.4 •     91.1        73.4       92.9     108.1      
Dec.    71.8       73.8    76.3         67.6       66.2        61.0    72.1        106.1      
1942    69.4       71.3    72.9         68.5       61.3        66.1       69.3     99.5       
May     63.2       64.7    66.3         62.9       57.2        60.3       62.5     90.6       
Sept.   69.4       71.6    71*8         69.6       59.5        66.7       74.1     100.6      
Oct.    74.2       76.5    77.6         72.7       63.7        72.7       75.7     104.7      
1943    91.9       94.1    88.7         93.1       82.1        88.7       91.4     116.1      
May     95.2       97.2    92.5         94.9       84.0        97.5    92.3        115..6     
1944    99.8       101.7   91.5         107.4      89.9        1C1.0   104.I       II5.I      
Jan.    94.6       96.4    87.7         99.0       86.7        91.0       96.8     114.2      
Feb.    94.4       95.8    86.6         98.9       86.9        96.1       98.5     112.1      
Mar •   96.6       98.2    88.1         102.3      88.4        98.7    100.7       113.9      
Apr.    95.1       96.5    86.5         100.9      87.3        97.3       99.6     113.6      
May     97.2       99.0    87.8         103'. 6    87.8        99.3    100.7       113.3      
June    101.5      103.9   92.7         110.2      89.6        100.8   103.9       112.3      
July    104.3      106.7   96.1         113.1      91.3        105.3   106.7       116.9      
Aug.    102.7      104.7   94.3         111.7      92.1        102.5   106.2       1)6.4      
Sept.   100.7      102.6   92.6         110.7      91.4        98.7    IO5.O       II5.5      
Oct.    103.5      105.6   95.6         113.2      92.7        103.4   107.3       117.7      
Nov.    102.7      104.6   94.5         112.0      92.1        104.9   109.4       118.0      
Dec.    104.7      106.4   96.0         113.4      92.4        s 113.9 114.6       1)7.8      

201

STOCK TRICE INDEXES

¡NOTE: See p* 199                         (1935-39 r 100)

Other

                              Industrials               Public    Rail-               Fire and   
        Combined              Capital       Consumers * Utilities roads   New York    Marine     
Monthly Index (402 Total (354 1, Goods (116 Goods(191   (28       (20     City Banks  Insurance  
Average Stocks)    Stocks)      Stocky),    Stocks)     “Stocks)  Stocks) (19 Stocks) (18 Stocks)
1945    121.5      123.3      111.4         131.6       106.1     136.9   116.8       127.6      
Jan.    103.4      110.4          99.4      116.3       93.8      120.7   II4.4       120.8      
Feb.    113.0      115.2      103.6         121.0       96.8      125.3   113.3       124.6      
Mar.    111.8      II4.O      103.2         119.3       96.1      123.6   110.9       125.4      
Apr.    114.4      116.5      IO5.5         122.2       98.0      129.3   110.6       123.5      
May     113.2      120.3      108.8         127.2       101.2     134.5   113.4       129.1      
June    120.7      121.8      109.9         129.3       IO5.9     144.0   119.4       129.7      
July    118.4      118.8      107.0         126.1       107.9     140.1   117.0       125.7      
Aug.    117.9      118.9      107.6         128.1       107.2     130.9   113.0       122.2      
Sept.   126.1      128.2      117.2         139.3       110.6     137.5   II5.0       125.9      
Oct.    132.0      134.5      122.0         145.9       . II4.4   U5.1    124.6       134.2      
Nov.    136.9      138.7      124.8         I5O.7       120.8     154.2   125.2       136.5      
Dec.    139.7      142.2      127.9         154.0       120.2     157.1   124.3       133.9      
1946                                                                                             
Jan.    144.8      147.5      133 J-        161.9       I24.O     164.3   126.1       139.2      
Feb.    143.3      145*8      133*6         159.5       123.7     159.8   121.3       143*8      
Mar.    141.8      144*5      130.8         159.2       122.8     153*6   116.6       141*6      
Apr.    151 st     155.9      139.4         170.1       127.5     156.8   120.2       144*2      
May                                                                                              
June                                                                                             
July                                                                                             
Aug.                                                                                             
Sept.                                                                                            
Oct.                                                                                             
Nov.                                                                                             
Dec.                                                                                             
1947                                                                                             
Jan.                                                                                             
Feb.                                                                                             
Mar.                                                                                             
Apr.               * \                                                                           
May                                                                                              
June    _                                                                                        
July                                                                                             
Aug.                                                                                             
                                                                                                 
Sept.                                                                                            
Oct.                                                                                             
Nov.                                                                                             
Bep.                                                                                             

  Sources Standard and Poor’s Corporation


202

BUSINESS ACTIVITY



Money in Circulation


         This series is compiled by the Board of Governors, Federal Reserve System, and is published monthly in the Federal Reserve Bulletin»

         It represents all coins and paper money outside of the Treasury and Federal Reserve Banks, with the exception of gold and silver coin known to have been exported and, beginning with January 31, 193bj all gold coin» A full explanation of the series and data back to i860 are given in Banking and Monetary Statistics, 19b3> Federal Reserve Board»


                                    Bank Deposits


          These series are compiled by the Board of Governors, Federal Reserve System, and are published monthly in the Federal Reserve Bulletin#

          The data have been adjusted as nearly as possible to show the actual amounts owned by the public# They exclude interbank deposits and cash items in process of collection, commonly called the "floats# A full explanation of the series is given in Banking and Monetary Statistics, 19b3, Federal Reserve Board.



Consumer Credit


         These series are compiled by the Board of Governors of the Federal Reserve System and published monthly in the Federal Reserve Bulletin, Previously they were computed by the Bureau of Foreign and Domestic Commerce of the United States Department of Commerce#- Consumer credit is defined as the total amount of outstanding unpaid balances arising from credit extended to individuals in their capacity as consumers, where the original credit extension does not exceed five years# The series include installment credit by type, single payment loans, charge accounts, and service credit, all of which appear in the Handbook# Extensive discussions of the series appear in the NovemberT^ir^ahd Februaby 19b3 issues of the Survey of Current Business and in the December 19bh and JanuaryT^E^issue of the Federal Reserve Bulletin»



                Nonfarm Mortgage Recordings, Loans and FHA Insurance


          Nonfarm mortgage recordings of $20,000 or less: — This series is cc^HleTlDjnEKiil’eder^^                                 and ⁱs Pub-
          lished monthly in the Federal Home Loan Bank Review# It is based, on reports sent in montTTIyn3y"'averr'^^             similar politi-
          cal subdivisions which contain more than two—thirds of the total


203

BUSINESS ACTIVITY



Nonfarm Mortgage Recordings, Loans and FHA Insurance

    Nonfarm mortgage recordings of $20*000 or fess: (cont• d*) nonfarm population* Even though the reports contain data on mortgage recordings of all kinds, only those with a face amount of $20,000 or less on properties in nonfarm areas are included in this series in order to relate it more closely to the financing of one-to-four family homes*


    Home "mortgage loans made by all savings and loan associations for (a) all purposes and for (b) home purchases: - Both series are compiled by the federal Home Loan Bank Administration and are published monthly in the Federal Home Loan Bank Review* They are based on reports sent in monthly by the cooperating associations whose assets represent 81 percent of the total assets of all the savings and loan associations* The series for (a) all purposes includes also mortgage loans for home purchases* The-ljerLTsFior^^^^               represents mortgage loans
   for one-to-four family homes *


    Federal Housing Administration insurance on total new and existing constructions# - All series under ithis heading”shown in the Handbook are compiled by the Federal Housing Administration and are publishecT^uarter-ly in the Mortgage Portfolio* They relate to activities under Title II, ¹ section 20TT?xh€ri'rat^^            Act which provides for the insurance
    of mortgages on one-to-four family homes and to activities under Title VI, section 603 of the Act which extended PHA insurance to war housing*

    Firm conmitments issued - represent commitments issued to mortgagees io^TnsurtTmorEi^^            hemes not being constructed for sale con-
    tingent upon approval of building specifications* These commitments are issued for specified periods necessary for completion of the building and the closing of mortgage papers* Some of these commitments may lapse or be withdrawn by the mortgagee* However, this series is considered a sensitive indicator of small homes construction activity*

    Mortgages insured - represent mortgages on properties on which final inspection of the complete home has been made and the mortgage papers closed at which time the first payments of premium is made by the mortgagor to the mortgagee who in turn transmits it to the Federal Housing Administration*

    The cumulative series of mortgages insured - represents the total volume of mortgages written and not the balance of loans outstanding, since this series does not include deductions for amortization payments to principal made by the mortgagor*

    (See 19h2 Supplement — Survey of Current Business)


204

             MONEY IN CIRCULATION IN THE UNITED STATES 1/                 
NOTE: See p. 202                                                         
End o?           "millions End 6?“                               Millions
Year or             of     Year or                                     of
Month            Dollars ( Month                                  Dollars
1914             $3,032    1945                                          
July             3,107     Jan.                                  $25,290 
1915             3,302     Feb.                                  25,751  
1916             3,679     March                                 25,899  
1917             4,086     April                                 26,189  
April            3,907     May                                   26,528  
1918             4,951     June                                  26,746  
Nov,             4,908     July                                  27,108  
1919             5,091     Aug.                                  27,685  
1920             5,325     Sept.                          *      27,826  
                           Oct.                                  28,049  
1921             4,403     Nov,                                  28,211  
1922             4,530     Dec.                                  28,515  
1923             4,757                                                   
192b             4,760     1946                                          
1925             4,817     Jan.                                          
1926             4,808     Feb.                                          
1927             4,716                                                   
1928             4,686     March                                 27, 879 
1929             4,578     April                                         
1930             4,603     May                                           
1931             5,360     June                                          
1932             5,388     July                                          
1933             5,519                                                   
193h             5,536     Aug.                                          
1935             5,882     Sept.                                         
1936             6,541                                                   
                                                                         
1937             6,550                                                   
1938             6,856     Nov.                                          
1939             7,598     Dec.                                          
Aug,             7,171                                                   
                           .1947                                         
1940             8,732                                                   
Ml               11,160    vein«                                         
Jan,             8,593     Feb.                                          
Dec,             11,160    March                                         
1942             15,410    April                                         
May              12,074                                                  
Sept,            13,703    May                                           
Oct.             14,210    June                                          
39113            20,449    July                                          
May              17,114    Aug.                                          
1944                       Sept.                                         
Jan.             20,529    Oct.                                          
Feb.             20,824                                                  
March            21,115    Nov.                                          
April            21,552    Dec.                                          
May              22,160                                                  
June             22,504    1/ Excludes money held by Treasury or Federal 
July             22,699    Reserve Banks.                                
Aug.             23,292                                                  
Sept.            23,794                                                  
Oct.             24,425                                                  
Nov.             25,019                                                  
Dec.             25,307                                                  

SOURCE: Board of Governors, Federal Reserve System

205

DEPOSITS IN ALL BANKS IN THE UNITED STATES 1/

NOTE: See p. 202                     (Millions of dollars)                            
Tear                      Private  Private  Year                    Private  Private 
and   Total      Gov’t    Time     Demand   and    Total   Gov’t    Time     Demand  
Month 2/         Deposits Deposits Deposits Month 2/       Deposits Deposits Deposits
1913  $17,545    $49       $8,356   $9,140  1945                                     
1914  IB,498     66       8,350    10,082   Jan«  $127,500 $18,300  $40,600  $68,600 
1915  19,107     48        9,231    9,828   Feb.  126,700  15,600   41,400   69,700  
1916  22,325     39       10,313   11,973   March 126,400  13,400   42,100   70,900  
1917  25,878     834      11,543   13,501   April 126,400  9,800    43,000   73,600  
19 Iß 28,125     ' 1,565  11,717   14,843   May   127,800  8,200    43,600   76,000  
1919  32,012     965      13,42$   17,624   June  137,688  24,381   44,254   69,053  
1920  35,754     304      15,834   19,616   July  138,000  20,800   45,100   72,100  
1921  34,U4      418      16,583   17,U3    Aug«  137,400  17,300   46,100   74,000  
1922  35,652     170      17,437   18,045   Sept« 136,600  14,300   46,900   75,400  
1923  39,777     254      20,379   19,144   Oct.  137,400  11,700   47,600   78,100  
                                            Nov.  141,600  13,100   48,000   80,500  
1924  43,386     256      22,232   20,898   Dec.  148,200  24,600   48,500   75,100  
1925  46,528     318      23,922   ’22,288                                           
1926  47,296     247      25,328   21,721   1946                                     
1927  50,382     280      27,372   22,730                                            
1928  52,045     283      28,681   23,081   Jan.  150,200  24,600             76.500 
1929  51,156     158      28,189   22,809   Feb.  150,700  25,000    49,700  76,000  
1930  49,948     305      28,676   20,967   March 147,100  22,300   50,000   74,800  
1931  43,855     464      25,979   17,412   April                                    
1932  40,693     508      24,457   15,728                                            
1933  37,766     1,016    21,715   15,035                                            
                                            June                  t                  
1934  43,330      1,715   23,156   18,459                                            
1935  47,265     909      24,241   22,115   July                                     
1936  51,835     991      25,361   25,483   Aug.                                     
1937  51,001     824      26,218   23,959                                            
                                            Sept.                                    
1938  53,180     88?      26,305   25,986   Oct.                                     
1939  57,698     846      27,059   29,793                                            
      54,938     792      26,791   27,355   Nov.                                     
1940  63,436     753      27,738   34,945   Dec.                                     
1941  68,616      1,895   27,729   38,992                                            
1942  85,755      8,402   28,431   48,922   1947                                     
June  71,027     1,837    27,320   41,870   Jan.                                     
1943  103,975    ।10,424  32,736   60,815   Feb.                                     
May   95,300     n,4oo    29,900   54,000   March                                    
1944                                        April                                    
Jan«  106,400    10,700   33,200   62,500   May                                      
Feb.  109,4.00   17,600   33,700   58,100                                            
March 108,400             34,100            June                                     
                 14,700            59,600   July                                     
April 107,600    10,900   34,600   62,100                                            
May   107,500    7,300    35,300   65,100   Aug.                                     
June  ^>?91      19,506   35,720   60,065   Sept.                                    
July  118,100    20,300   36,300   61,500                                            
Aug«  117,500    16,100   37,100   64,300   Oct,                                     
Sept« 116,900    13,500   37^900   65,500   Nov.                                     
Oct.  117,100    8,700    38,900   69,500                                            
Nov,  119,900    8,200    39,200   72,500                                            
Dec«  127,483    20,763   39,790   66,930                                            

y Adjusted to exclude interbank deposits and cash items in process of collection«
2/ As of June 30, for years 1913-1922; end. of calendar year or month for subsequent dates«

SOURCE: Board of Governors, Federal Reserve System

206

TOTAL CONSUMER CREDIT OUTSTANDING, Bï MAJOR PARTS

                               (Millions of Dollars)                          index: Average    
NOTE:  See p. 202                                                            1 1935-39 * 100)   
                       installment credit           Single                   Total con-         
End of Total               Sale Credit              Payment Charge   Service sumer Credit       
Period Consumer Total          Auto-          Loans Loans   Accounts  Credit * Not            *
       Credit         Total    mobile Other     y   2/                       Adjusted Adjusted  
1929   $ 7,637  $3,167 $2,515  $1,318 $1,197  $ 652 $ 2,125 $ 1,749    $ 596 116   120         
1930   6,839    2,706 2,032    928    1,104   674   1,949   1,611    573     103   107         
1931   5,528    2,214 1,595    637    958     619   1,402   1,381    531     83    87          
1932   4,082    1,515 999      322    677     516       962 1,114    491     61    64          
1933   3,905    1,581 1,122    459    663     459       776 1,081    467     59    61          
1934   4,378    1,849 1,317    576    741     53?       875 1,203    451     66    69          
1935   5,419    2,607 1,805    940    865     802   1,048   1,292    472     82    85          
1936   6,771    3,501 2,436    1,289  1,147   1,065 1,331   1,419    520     103   106         
1937   7,467    3,947 2,752    1,384  1,368   1,195 1,504   1,459     ' 557  113   117         
1938   7,030    3,578 2,333    970    1,343   1,265 1,442   1,487    523     106   110         
1939   7,981    4,436 2,792    1,267  1,525   1,644 1,468   1,544    533     121   125         
Aug.   7,28$    4,069 2,571    1,223  1,348   1,498 1,462   1,229    525     115   114         
1940   9,153    5,455 3,450    1,729  1,721   2,005 1,488   1,650    560     139   143         
1941   9,899    5,924 3,744    1,942  1,802   2,180 1,601   1,764    610     150   155         
Jan.   8,953    5,418 3,393    1,746  1,647   2,025 1,487   1,486    562     141   140         
1942   6,485    2,955 1,491    482    1,009   1,464 1,369   1,513    648     98    102         
May    8,324    4,625 2,702    1,239  1,463   1,923 1,509   1,561    629     130   130         
Sept.  6,902    3,527 1,860    769    1,091   1,667 1,417   1,320    638     108   108         
Oct.   6,750    3,287 1,701    664    1,037   1,586 1,403   1,419    641     105   106         
1943   5,338    1,961 814      175    639     1,147 1,192   1,498    687     80    84          
May    5,382    2,163 953      235    718     1,210 1,282   1,275    662      84   84          
1944   5,777    2,039 835      200    635     1,204 1,251   1,758    729     86    90          
Jan.   4,988    1,857 742      169    573     1,115 1,145   1,294    692 '   78    78          
Feb.   4,835    1,807 705      167    538     1,102 1,113   1,218    697     77    76          
March  5,019    1,826 695      167    528     1,131 1,115   1,376    702     79    79          
April  4,997    1,807 689      171    518     1,118 1,139   1,346    705     79    78          
May    5,107    1,818 699      181    518     1,U9  1,189   1,390    710     80    80          
June   5,168    1,840 706      192    514     1,134 1,242   1,370    716     81    81          
July   5,111    1,847 705      204    501     1,142 1,255   1,287    722     81    80          
Aug.   5,159    1,853 708      210    498     1,145 1,249   1,330    727     82    81          
Sept.  5,243    1,869 719      210    509     1,150 1,245   1,402    727     82    82-         
Oct.   5,388    1,894 743      210    533     1,151 1,250   1,516    728      84   84          
Nov.   5,577    1,931 772      208    564     1,159 1,255   1,664    727     86    87          
Dec.   5,777    2,039 835      200    635     1,204 1,251   1,758    729     86    90          

  * ’•Adjusted” and ”Not Adjusted” means adjusted or not adjusted for seasonal variation»

207

TOTAL CONSUMER CREDIT OUTSTANDING, BY MAJOR PARTS

       See p. 202                                                 (Millions of Dollars)                                                  Index: Average         
NOTE:                          Installment Credit                                Single                                                 (1935-39 - 200)         
End of Total                                                                     Payment             Charge           Service              Total Con-           
Period Consumer     Total                Sale Credit              Loans          Loans               Accounts         Credit              sumer Credit          
       Credit                  Dotal       Auto-                  V              2/                                                                    * Not *  
                                           mobile Other                                                                                      Adjusted Adjusted  
1945   $ 6,73h      $2,365 $   903         $ 227 $    676 $1,462                 $ 1,616             $ 1,981          $ 772       101            105           
Jan.   5,486        1,972      777         192            585     1,195          1,246               1,534                    734 85             86            
Feb.   5,343        1,928      741         186        555         1,187          1,239               1,438            738         85             84            
March  5,606        1,952      731         184        547         1,221          1,244               1,669                    741 89             88            
April  5,483        1,947      723         184        539         1,224          1,288               1,506            742         86             86            
May    5,541        1,961      718         184            534     1,243          1,348               1,488                    744 87             87            
June   5,697        1,987      719         188            531     1,268          1,420               1,544            746         89             89            
July   5,654        1,992      712         192        520         1,280          1,452                    1,459               751 90             88            
Aug.   5,649        1,988      706         196            510     1,282          1,466               1,441                    754 90             88            
Sept.  5,702        2,010          717     202            515     1,293          1,466               1,470            756         89             89            
Oct.   6,000        2,086      754         210            544     1,332          1,490               1,666            758         93             94            
Nov.   6,344        2,190/     805         219            586     1,385          1,556               1,835            763         98             99            
Dec.   6,734        2,365      ‘ 903       227        676         1,462          1,616               1,981            772         101            105           
w                                                                                                                                                              
Jan.   6,505        2,363      877         235        642         1,486          1,659               1,701            782         101            102           
Feb.   6,562        2,409          876     245            631     1,533          1,670               1,692            791                    104 103           
March  6.?7Q        2.516          904     264        640         1.612          1,686                        . Ja22L 796         no             109           
April                                                                                                                                                          
May                                        «0BBMNM»                                                                               .        »I. ■               
June            --- ---------  ------      ------     ------      ---.....       .  ---.......                                --- ------         ------ '■ ---*
July                           ---■ ■ ■ ■             ■■■MB*«»«»                                                                                               
Aug.            ---                                   ------                                                                                                   
Sept.                                                                                                                                                          
Oct.                           ---------   ■■■■■■ 1   ------                                                          ■ ■■■■■Il 1 _______        ------        
Nov.                           ------      ---------  «MMMMmm»                        .     ... ■, ,     .  ---...... ■I. ■ . ■ . ■ .......      MMMMM»        
Dec.                                                                                                                              /                            
w                                                                                                                                                              
Jan.   ------------ . ........ MMM         ---------  ------      ------....     .    . --- ,     ..      . ---------     ------- ---            ---           
Feb.   ---------    ---------  .1..---.11. _MMa       ------      ■ ---   ' ■ '■ --- ----------           . ---------   --------- ---            ---           
March               ---------  ~*-         ---~       ------      ------            .   . .... , ---                       ------ ■ ■ ■ --■      ------        
April  --- »1---    ---------  ------      «---^«     ------      ---------      . ---^---.          .   ■. -........      ------ ------         ______        
May                            ■■■■Wil     •■■■■■■■■» MMM*BBM                                                                                                  
June                                                                                                                                                           
July                           MMMM        ------     ---------                                                         --------- ---------                    
Aug.                           ------      Mmaaa      -~-.                                                                        ------         ------        
Sspt •    --------- -------    ------      111      1 ■ ■ 1 ■ . ' ---------      .    .,. „            .  . ..■---.„■   ---------                ------        
Oct.                                       --- ■■■■■  «¡■MMMMP»                                                                   MMMW              ■ ■■■   ■ ■
Nov.                           ---------   •---»»•    ---------                                                                   ---------      ------        
Dec.                           ■MMM        MMMBMN                                                                                 WMXMB                        

V Includes repair and modernization loans insured by Federal Housing Administration.
2/ Nonins tai in ent consumer loans (single-payment loans of commercial banks and pawn brokers).
* "Adjusted" and "Not Adjusted" means adjusted or not adjusted for seasonal variation.

SOURCE: Board of Governors of Federal Reserve System

208

NONFARM MORTGAGE RECORDINGS, IOANS AND IHA INSURANCE

NOTE:  See p. 202                    (Millions of Dollars)                                       
       Nonfarm Hane-Adortgage Loans  JHA Insurance - Total New & Existing Construction            
Year   Mortgage made by All Savings  Firm Commitments Issued           Mortgages   Insured       
and    Recordings and Loan Associations All         war Nonwar AH Kama Mortesees       War Nonwar
Month  of $20,UUU All      Home      Home         Hous- Hous-                        Hous- Hous- 
       or Less Purposes    Purchase  Mortgages ing      ing    Current Cumulative      ing ing   
1935   - -    $ 561+.0     $ 147.0   $ 170.6            $170.6 $ 93.9   $   93.9           $ 93.9
1936   755.0               230.1     438.4        --- « 438.4  308.9     402.8             308.9 
1937   896.6               326.6     447.5         MB M 447.5  424.4     827.2             424.4 
1938   798.0               265.5     647.9        --- _ 647.9  473.2   1,300.4             473.2 
1939   ^3,506.6     986.1+ 339.6     737.2              737.2  669.4   1,969.9             669.4 
191+0  1+,031.1+   1,199.6 426.2     876.4        * --- 876.4  736.5   2,706.4             736.5 
191+1  1+,732.0   1,378.7  580.5     1,084.8    #146.1) 938.4  890.1   3,596.5      $ 13.4 876.7 
191+2  3,91+2.6 1,050.5    573.7     1,081.6   615.0    466.6  958.5   4,555.0       267.0 691.4 
191+3  3,861.1+   1,184.0  802.4     788.2     561.6    226.6  762.2   5,317.1       517.7 244.5 
191+1+ l+,610.6 1,454.1    1,064.0   556.8        319.2 237.6  707.4   6,024.6       491.1 216.4 
191+5  5,623.2^1,913.7     1,357.6   402.8     111.9    290.9  474.3   6,498.9       255.0 219.3 
Jan.   351+.6     102.3    76.5      30.0      13.3     16.7   57.7    6,082.3    38.6     19.1  
Feb.   338.7     106.0     78.1      35.0      18.0     17.0   45.5    6,127.8    31.4     14.1  
March  1+33.3     H+1.5    105.3     24.1      2.6      21.5   46.4    6,174.2    29.9     16.5  
April  1+55.8     153.8    113.7     51.1      29.6     21.5   41.8    6,216.0        26.9 14.9  
May    1+87.1+     163.1   120.2     41.8      16.2     25.7   46.1    6,262.0    23.7     22.4  
June   1+87.0     167.3    116.8     38.7          15.1 23.6   39.6    6,301.7    20.4     19.2  
July   1+69.3      160.1+  112.8     29*2           5.7 23.5   37.6     6,339.3   19.1     Iß .6 
Aug.   1+89.1+      173.7  120.6     28.8           4.4 24.4   32.9    6,372.2    15.0     18.0  
Sept.  1+61+.2      162.4  II3.I     23.7           1.8 21.9   28.8    6,401.0    12.6     16.1  
Oct.   555.9     196.4     135.2     35.1           3.8 31.3   35.1    6,436.1        15.3 19.8  
Nov.   560.2     198.2     135.7     32.7            .5 32.2   31.4     6,467.5   10.8     20.7  
Dec.   527.4     187.7     129.6     32.6           1.0 31.6   31.4    6,498.9    11.4     20.0  
191+6                                                                                            
Jan.   634.1    216.8      KT        ' 3B.7 ‘  .....1.7 1 37.1  “SCT   6,537.6    11.3     27.1+ 
Feb.   618.8     225.5     154.2     34.5      1.2      33.4   31.2    6,568.8         7.5 23.7  
March  766.0     300.2     203.0     42.4           1.7 40.7   34.4    6,603.2         6.3 28.1  
April  887.3     343.0     _^¿i2-    _¿¿il_          •8 44.7   36-6    6,638,8    ____212. -2212.
May                                                                                              
'June                                                                                            
July                                                                                             
Aug.                                                                                             
Sept.                                                                                            
Oct.                                                                                             
Nov.                                                                                             
Dec.                                                                                             
191+7                                                                                            
Jan.                                                                                             
Feb.                                                                                             
March                                                                                            
April                                                                                            
May                                                                                              
June                                                                                             
July                                                                                             
Aug.                                                                                             
Sept.                                                                                            
Oct.                                                                                             
Nov.                                                                                             
Dec.                                                                                             

SOURCE: Federal Home Loan Bank Administration and Federal Housing Administration

209

                          BUSINESS ACTIVITY '




                Foreign Trade of the United States



The export and Import series are compiled by the United States Department of Commerce, Bureau of Foreign and Domestic Commerce through April 1941, and by the Bureau of the Census thereafter, and are published monthly in the Survey of Current Business«

Total exports include exports of United States merchandise plus reexports of foreign merchandise.

General imports include merchandise entering consumption channels immediately upon arrival plus entries into bonded warehouses.

Imports for consumption represent merchandise entering consumption channels immediately plus withdrawals from bonded warehouses.

(See 1942 Supplement - Survey of Current Business)


210

FOREIGN IRAK OF THE UNITED STATES EXPORTS AND IMPORTS

NOTE:- See p. 209                  (Millions of Dollars)                       
                  ______Exports__________     Inserts________  Excess of Total
Tear              Total        United              For         Exports over   
and               Including .  States              Consumption General        
Month             Reexports 1/ Merchandise General             Inports        
1910              ♦1,866       ♦1,829      ♦1,563      ♦1,547*            ♦303
1911              2,093        2,058       1,532   1,528*      560            
1912              2,399        2,363       1,818   1,641«      581            
1913              2,484        2,448       1,793   1,775       691            
1914              2,114        2,071       1,789   1,771       324            
1915              3,555        3,493       1,779   1,779       1,776          
1916              5,483        5,423       2,392   2,359       3,091          
1917              6,234        6,170       2,952   2,919       3,281          
1918              6,149        6,048       3,031   2,952       3,118          
1919              7,920        7,750       3,904   3,828       4,016          
1920              8,228        8,080       5,278   5,102       2,950          
1921              4,485        4,379       2,509   2,557       1,976          
1922              3,832        3,765       3,113   3,074       719            
1923              4,167        4,091       3,792   3,732       375            
1924      '       4,591        4,498       3,610   3,575       981            
1925              4,910        4,819       4,227   4,176       683            
1926              4,809        4,712       4,431   4,408       378            
1927              4,865        4,759       4,185   4,163       681            
1928              • 5,128      5,030       4,091   4,078       1,037          
1929              5,241        5,157       4,399   4,339       842            
1930              3,843        3,781       3,061   3,114       782            
1931              2,424        2,378       2,091   2,088       334            
1932              1,611        1,576       1,323   1,325       288            
1933              1,675        1,647       1,450   1,433       225            
1934              2,133        2,100       1,655   1,636       478            
1935              2,283        2,243       2,047   2,039       235            
1936              2,456        2,419       2,423   2,424                    33
1937              3,349        3,299       3,084   3,010       265            
1938              3,094        3,057       1,960   1,950       1,134          
1939              3,177        3,123       2,318   2,276       859            
1940              4,021        3,934       2,625   2,541       1,396          
1941              5,147        5,020       3,345   3,222       1,802          
1942              8,080        8,004       2,745   2,769       5,335          
1943              12,964       12,841      3,381   3,390       9,583          
1944              14,261       14,163      3,921   3,879                10,341
Jan.              1,124        1,116       301     305         823            
Feb.              1,107        1,098       314     306         793            
Mar.              1,197        1,187       359     357         838            
Apr.              1,231        1,221       361     357         869            
May               1,455        1,446       386     373         1,069          
June              1,297        1,288       332     323         965            
July              1,197        1,190       294     290         903            
Aug.              1,191        1,184       304     298         887            
Sept.             1,194        1,187       282     279         912            
Oct.              1,144        1,138       329     332         815            
Nov.              1,187        1,178       323     325         863            
Dee.              939          930         336     333         603            

211

FOREIGN nuns GF THE UNITED STATES EXPORTS AND IMPORTS

-KQTE: See p. 209                     (Millions of Dollars)                         
                  _______Exports__________  _______Imports________  Excess of Total
Tear              Total        United               For             Exports ewer   
and               Including ,  States               Consumption     General        
Month             Reexports if Merchandise  General                 Imports        
1945              ♦9,806       19,589        ♦4,136 ♦4,075          ♦5,670         
Jan.              903          896          334     355             569            
Feb.              887          878          325     331             561            
Mar.              1,030        1,017        365     366             665            
Apr.              1,005        987          366     356             639            
M*y               1,135        1,119            372 362             763            
June              870          848              360 339             5U             
July              893          859              356 346             537            
Aug.              737          717              360 355             378            
Sept.             5U           500          335     329             180            
Oct.              455          441          344     344             111            
Now.              639          612 ♦            322 313             317            
Dee.              736          715              297 279             439            
1946                                                                               
Jan.              800          780              392 399             403            
Feb.              671          651              318 307             353            
Mar.              816          789          384     373             432            
Apr.                                                                               
May                                                                                
June                                                                               
July                                                                               
Aug.                                                                               
Sept.                                                                              
Oct.                                                                               
Now.                                                                               
Deo.                                                                               
1947                                                                               
Jan.                                                                               
Feb.                                                                               
Mar.                                                                               
Apr.                                                                               
May                                                                                
June                                                                               
July                                                                               
Aug.                                                                               
Sept.                                                                              
Oct.                                                                               
Now.                                                                               
Dee.                                                                               

   j/ Beginning with 1941 data include lend-lease exports.


   * Data are for fiscal year ending June 30





   Source: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

212

NATIONAL PRODUCT AND NATIONAL INCOME



       These series are compiled by the Bureau of Foreign and Domestic Commerce, United States Department of Commerce, and are presented periodically in the Survey of Current Business» Some of the series have been compiled from the unpublished data in the files of the Bureau» Comprehensive definitions of the concepts of national product and national income appear in several publications of the Bureau, notably the pamphlet Income in the United States, 1929*37, issued in November 1933, Monthly Income Payments in the United States, 1929*40» and, more recently, in May 1942, March 1943, August 1943, April 1944, and February 1946 issues of the Survey» Abbreviated statements of the concepts are presented below for the overall measures and the components shown in the Handbook»

Gross National Product (or Expenditure)

       This series represents the aggregate value of all final products and services, at current market prices, produced by the entire economy and flowing to government and to civilian consumers or retained by business enterprise for use in further production»

       Federal, state and local government expenditures:* the value of governmental expenditures for goods and services» War expenditures of the Federal government represent only current output utilization and not the total of war outlays as reported in the Treasury accounting statements» Government expenditures are also broken down into three other groupings, namely: (1) expenditures for goods and services originating in government * payments for interest on government debt and wages and salary for military and civilian government personnel; (2) expenditures for goods and services originating in private industry * the amount spent for purchase or rental of products of private industry and for the services of persons not on government payrolls; and (3) transfer payments * payments not reimbursed by goods and services; i.e., veterans¹ pensions, aid to dependent children, general relief, etc»

       Private gross capital formation:* the value of all capital goods purchased by private industry, and the amounts accruing to the national income of the country by the excess of exports over imports» The principal outlays are for (1) construction - which includes all new private construction of factory and public utility property, residences and other property including nonprofit institutions and farm construction; and (2) producers durable equipment - capital purchases of machinery and durable equipment. Other items are the net change in business (and farm) inventories, net exports of goods and services and net exports and monetary use of gold and silver.


213

NATIONAL HRODUCT AND NATIONAL INCOME



Grog# National Product (Continued)



Consumer expenditures for goods:- the aggregate value of current expenditures for all goods, excluding government purchases of consumption goods for use of the armed forces and consumers¹ outlays for purchases of private homes, but including domestic expenditures of soldiers* out of cash pay and allowances» A breakdown of types of goods purchased is shown*

Consumer expenditures for services:- the aggregate value of current purchases of services of persons or things, subject to the same exclusions and inclusions as the series on expenditures for goods* A breakdown of the types of services purchased is shown*

      Relation of Gross National Product to National Incane

These series show the items that are subtracted from or added to the gross national product, to pass from the gross national product concept to the national income concept*

The items subtracted are (1) business tax and non-tax liabilities -includes all payments for all forms of taxes, licenses, and other payments by business for government, such as payments for government publications, tuition payments in public schools, etc* (2) depreciation and depletion - the amounts charged for wear and tear and obsolescence of capital assets and depletion of natural resources, (3) other business reserves - reserves for bad debts, insurance, inventory loss, and other contingencies, and (4) capital outlays charged to current expense - payments for durable goods which are essentially capital goods, and so regarded in the G.N*P* concept, but which because of special circumstances are used for only short periods by industry, and hence charged to current expense* (For example, many of the dies and presses in the automobile industry are capable of use for a number of years, but because of style changes, the industry expects to use them only one year, hence charges their total cost to the year in which purchased* On the other hand, in the G.N.P. such purchases are regarded as capital outlays.)

The items added are (1) inventory revaluation adjustment - (Since the G.N.P* concept seeks to measure the actual value of products produced during the year, changes in inventory value due to price changes are disregarded* However, as such changes are regarded as a form of income in industry, the effect of such price changes is included in the national income*) And (2) adjustment for discrepancy - adjustment to make the national income total, as derived from G.N.P*, identical with the total as derived independently* (National income description on p. 221.)


214

GROSS NATIONAL PRODUCT CR EXPENDITURE

NOTE? See p# 212                           (Billions of Dollars)                                   
      Gross                                             Private   consumers* Goods And Services    
Year  National    Government Expenditures for Goods     Gross                     Non-     Ser-    
      Product Or  Federal       State &                 Capital             Durable durable vi-    
      Expenditure Total Total War         Nonwar  Local Formation Total     Goods Goods    ces    
1909  $34.0       42.5  «• *    --- MM                  $6.0      ♦ 25.5                          
1910  36.7        2.6           --- MB    MB MB         7.1       27.0                            
1911  36.8        2.7           --- *                   7.1       27.0                            
1912  38.5        2.7   M MB    --- BM    M Ml          5.8       30.0                            
1913  40.0        2.8   - ---                     --- - 6.2       31.0   - -      M M      M M    
1914  38.5        2.9                                   5.8       29.8                            
1915  42.1        3.0                                   10.5      28.5                            
1916  47.8        3.2                                   9.8       34.8   --- BM                   
1917  59.5        8.5                                   10.6      40.4   BM MB                    
1918  65.5        18.8          --- ---                 ^ • ^     44.4   --- ---  - -      BM MB  
1919  77.1        8.6                                   17.2      51.3                            
1920  86.2        8.0                                   18.5      59.7   BM WB                    
1921  70.3        8.4   --- --- --- ---   Mi MB   BM BM 9.2       52.7   BM MB    BM BM           
1922  72.5        8.5   --- BM  --- ' --- --- MB  MB MB 10.3      53.6   --- W    MB MM           
1923  84.3        8.7                     --- --- MB BM 15.6      60.0   M ---    --- ---  MM MB  
1924  83.4        9.1           » MB                    13.3      60.9                     •• MB  
1925  90.0        9.6   --- OB  --- BM    --- MM        15.3      65.2   MM MB    BM BBB          
1926  95.3        9.8   --- --- --- MB    --- BM        16.8      68.7   OB ---   * MB     MB     
1927  93.5        10.1  --- --- --- «     MB MB         15.2      68.4   MB «     BM MB    •• mb  
1928  95.6.       10.6  * MB              --- MB  - -   14.9      70.1   --- BM   --- ---  MB BM  
1929  99.4        11.0   $2.7   mb                ♦8.3  17.6      70.8      ♦ 9.9   ♦ 36.4 ♦ 24.5 
1930  88.2        11.2  2.4     ~ MW      MB «    8.8   12.1      64.9   8.1      33.7     23.1   
1931  72.1 .      11.5  2.8     *~ MT     * MB    8.7   - 6.4     54.2        6.3   27.1   20.8   
1932  55.4        10.2  2.4     --- ---   MB BM   7.8   2.2       43.0   4.2        20^7   18.1   
1933  54.8        9.1   2.6        BM     --- BM  6.5   3.3       42,4   3.4        21.9   17.1   
1934  63.8        10.8  4.9               BM MB   5.9   5.3       47.7   4.8      25.1     17.8'  
1935  70.8        11.9  3.9       --- «   MB MB   8.0   6.7       52.2   5.7      27.8     18.7   
1936  81.7        12.6  4.6     --- ---   BM MB   8.0   10.0      59.1   6.7      32.2     20.2   
1937  87.7        13.6  6.1      --- MB   MB MB   7.5   11.6      62.5   7.6      33.2     21.7   
1938  80.6-       14.4    6.8                     7.6   7.7       58.5   6.0      30.7     21.8   
1939  ‘88.6       16.0    7.9   ♦1.4      ♦6.5    8.1   10.9      61.7        6.4 32.6     22.7   
1940  97.1        16.7    8.8   2.8       6.1     7.9   14.8      65.7   7.4      34.4     23.9   
1941  120.2       26.5  18.6    13.3      5.3     7.9   19.1      74.6   9.1      40.1     25.4   
1942  152.3       62.7  55.3    50.3      5.0     7.4   7.6       82.0   6.3      47.9     27.8   
1943  •187.4      93.5  86.2    81.3      4.9     7.4   2.5       91.3   6.6      55.1     29.7   

215

GROSS NATIONAL PRODUCT OR EXPENDITURE

note> see p. 212         ____________________(Billions of Dollars)____________                                            
Gross                    Government Expenditures for Goods                   Private    Consumers 1 Goods and Services    
Tear    National                                And   Services               Gross                       Non-     Ser-   
and     Product Or                             ____Federal_____     State &  Capital            Durable durable   vi-    
_Quarter_.Expend it ur e Total                 Total War Nonwar     Local    Formation    Total Goods Goods       ces    
                                               Not Adjusted for     Seasonal Variation                                   
1944     $197.6                  $97.1         $89.5   $ 83.7 $5.7  $7.7     $ 2.0       $ 98.5  $ 6.7     $ 60.0 $31.8  
I  Qtr.   48.0           24.6                  22.6   21.3    1.3   2.0      .9         22.6    1.4      13.4     7.8    
II Qtr.  49.3            25.0                  23.0   21.6    1.5   2.0      1/            24.2 1.6      14.7     7.9    
III Qtr.   49.3          23.4                  21.7   20.3    1.5   1.7      1.2        24.7    1.6      15.1     8.0    
IV  Qtr.   51.0          24.2                  22.1   20.6    1.5   2.0      - .1       26.9    2.1      16.7     8.1    
1945       197.3         83.0                  75.1   69.0    6.1   7.9      9.4          1C4.9 7.4        64.4   33.1   
I   Qtr.   49.8          24.0                  21.9   20.5    1.4   2.0      1.2        24.7    1.5      15.0     8.2    
II Qtr.   51.8           25.1                  23.1   21.3    1.7   2.0      1.6        25.0    1.7      14.9     8.U    
III Qtr.  48.7           19.5                  17.7   16.3    1.4   1.7      3.5        25.7    1.7      15.7     8.3    
IV Qtr.  47.0            14.5                  12.4   10.8    1.6   2.1      3.1        29.5    2.5      18.8     8.2    
1946      _____                                                                                          :Z              
I Qtr. _____                                                                 •                                           
II-Qtr. _____                                                                                                             
III Qtr. _____                                                                                                           
IV Qtr. _____ _                           '                                                 ......                        
1947      _____                                                                                                          
I Qtr. _____ ___                                                                                                          
II Qtr. _____ _____                                                                                                       
III Qtr. _____ ___                                                                                                        
IV Qtr. _______                                                                                                           
1944                                           Seasonally Adjusted Annual Rates                                          
I Qtr. 195.4             98.3                  90.7   85.2    5.5   7.6      .6            96.4 6.6      58.8     31.0   
II Qtr. 197.2            99.0                  91.4   86.2    5.1   7.7      1.9           96.4 6.4      58.3     31.6   
III Qtr. 198.1           94.7                  87.0   81.0    5.9   7.7      3.6        99.8    6.8      60.9     32.1   
IV Qtr. 199.8            96.6                  88.8   82.5    6.3   7.8      2.0        101.3   7.1      61.8     32.4   
1945                                                                                                                     
I Qtr. 204.5             95.6                  87.8   82.2    5.6   7.8      3.9        105.0   7.2      65.2     32.6   
II Qtr. 206.3            99.2                  91.3   85.3    6.0   7.8      7.1        100.0   6.7      59.5     33.7   
III Qtr. 195.7                   79.5          71.6   65.2    6.4   7.9      12.5       103.7   7.1      63.3     33.3   
IV Qtr. 182.8            57.7                  49.8   43.3    6.5   8.0      14.2       110.9   8.4      69.5     33.0   
1946                                                                                                                     
I Qtr. ______                                                                                                            
II Qtr. ______                                                                                                           
III Qtr. ______                                                                                                          
Qtr. ______                                                                                                              
1947                                                                                                                     
I ^r* _____                                                                                                              
II Qtr. ______                                                                                                           
III Qtr. ______                                                                                                          
IV Qtr. ______                    ---          ---            ---                                                        
  1/ Less than $50,000,000                                                                             ' " "'             

Source: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

216

                  TOTAL FEDERAL, STATE AND LOCAL GOVERNMENT EXPENDITURES     
NOTEi  See p. 212                  (Billions of Dollars)                     
                           Expenditures for Goods and Services              
Year              Total      Originating    Originating             Transfer
and               Expend!-        in        in Private              Payments
Quarter           tures       Government    Industry                        
1929               I 11.7       * 6.5       * 5.6               » .7        
1930              11.9     6.5              4.7                           .7
1931              13.1*    6.6              4.9                 1.9         
1932              11.5     6.6              3.6                 1.3         
1933              10.5     6.6              2.5                 1.4         
1934              12.3     7.7              3.1                 1.5         
1935              13.7     8.0              3.9                 1.8         
1936              15.5     9.3              3.3                 2.9         
1937              15.3     9.1              4.5                 1.7         
1938              16.8     9.9              4.5                 2.4         
1939              18.1*          10.0       6.0                 2.4         
1940              19.3           10.3       6.4                 2.6         
1941              29.0           11.5       15.0                2.5         
191*2             65.1*          16.7       46.0                2.7         
191*3             96.7           26.3       67.2                3.2         
                           Not Adjusted for Seasonal Variation              
191*1*            102.1*         32.1       65.0                5.3         
I      Qtr.       25.8     7.5              17.1                1.2         
II     Qtr.       26.3     8.1              16.9                1.3         
in     Qtr.       24.7     7.9              15.5                1.3         
IV     Qtr.       25.6     8.5              15.7                1.4         
191*5             91.1           34.6       48.4                8.1         
I      Qtr.       25.5     8.8              15.2                1.5         
n      Qtr.       26.8     9.3              15.8                1.7         
in     Qtr.       21.1*    8.6              10.9                1.9         
IV     Qtr.       17.5     8.0              6.5                 3.0         
191*6                                                                       
                                                                            
I      Qtr.                                                                 
II     Qtr.                                                                 
hi     Qtr.                                                                 
IV     Qtr.                                                                 
191*7                                                                       
I      Qtr.                                                                 
II     Qtr.                                                                 
III    Qtr.                                                                 
IV     Qtr.                                                                 
                           Seasonally Adjusted Annual Rates                 
191*1* I Qtr.     103.0          30.1       68.2                4.7         
       II Qtr.    104.3    31.6             67.4                5.3         
       Ill Qtr.   100.1          32.8       61.9                5.4         
       IV Qtr.    102.3          33.8       62.8                5.7         
191*5  I Qtr.     101.6          34.8       60.8                6.0         
       H Qtr.     106.0          35.9       63.3                6.8         
       Ill Qtr.   87.1           36.0       43.5                7.6         
       IV Qtr.    69.7     31.7             26.0                        12.0
191*6  I Qtr.                                                               
       II Qtr.                                                              
       IH Qtr.    ---'                                                      
       IV qtr.                                                              
191*7  I Qtr.                                                               
       II Qtr.                                                              
       HI Qtr.                                                              
       IV Qtr.                   ---        --------- "---      _____       

SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

217

                                                 PRIVATE GROSS CAPITAL FORMATION                       
NOTE: See p. 212                                      (Billions of Dollars)                            
                                                                      Net Ex-  Net Exports            
Tear        Total Private     Construe -   Producers       Net Change ports of and Monetary           
and         Gross Capital     tion     Durable         in Business    Goods &  use of Gold            
Quarter     Formation                  Equipment       Inventories    Services and Silver             
1929        $17.6             »8.3         $7.3           $1.6        $.6                             
1930        12.1              5.6           6.0             -.3       .7                              
1931        6.4               3.8           4.2            -2.0       •2                              
1932        2.2               1.8           2.4            -2.3       .2                              
1933        3.3               1.3           2.1             -.7       •2                              
1934        5.3               1.6          3.1            -.1         .5                              
1935        6.7               2.1           4.0              .2       .2                              
1936        10.0              2.9           5.2             2.2       -.1                             
1937        11.6              3.7           6.3             1.1       .1                              
1938        7.7               3.3          , 4.5            -1.3      1.1           $-.2.........     
1939        10.9              3.6           5.5              .9       .8       .1                     
1940        14.8              4.3           6.9             1.8       1.5      • 2                    
1941        19.1              5.3           8.9             3.5       1.2      .1                     
1942        7.6               2.9         , 5.1             -.5       -1^      .4                     
1943        2.5               1.6          3.1            -.6         -1.8     .2                     
1944        2.0               Not Adjusted for Seasonal Variation     -.6      .2                     
I Qtr.      .9                1.6           4.0            -1.7       -.7                          -.2
II Qtr.     -.1               .4             .9               .2      -.2      .4                     
Ill Qtr.    9.4               .4           1.0              -.7       -.3      .1                     
IV Qtr.     1.2               .5           1.1             -.1        .4       .2                     
1945        1.6               .4           1.0            -1.2        -.4      .3                     
I Qtr.      3.5               2.7          6.4*            V          -.2      •2                     
II Qtr.     3.1               .4          1.3             V           .6       .1                     
Ill Qtr.                      .6           1.5             -.2        .5       -.1                    
IV Qtr.                       .8            1.8               .4               -.i                    
1946                          1.0            1.8              -.2                         !           
I Qtr.      •                                                                                         
II Qtr.                                                                                               
IH Qtr.                                                                                               
IV Qtr.                                                                                               
1947                                                                                                  
I Qtr.                                                                                                
II Qtr.                                                                                               
IH Qtr.                                                                                               
IV Qtr.                                                                                               
1944 I Qtr. .6                Seasonally Adjusted Annual Rates        -2.4                            
II. Qtr.    1.9               1.6          3.6           -2.1         -2.7                            
Ill Qtr.    3.6               1.6          4.0            -1.0        -.9                             
IV Qtr.     2.0               1.6          4.4            -1.5        -1.2 -                          
1945 I Qtr. 3.9               1.6           4.0            -2.3       -1.7                            
II Qtr.     7.1               1.8           5.2            -1.3       -1.0     -.1                    
Ill Qtr.    12.5              2.3           6.1            -.2        2.5      -.1                    
IV Qtr.     14.2              2.9           7.0              .2       1.9      -.1                    
1946 I Qtr.                   3.7           7.2             1.6                -.1                    
II Qtr.                                                                                               
in Qtr.                                                               •                               
IV Qtr.                                                                                               
1947 I Qtr.                                                                                           
II Qtr.                                                                                               
in Qtr.                                                                                               
IV Qtr.                                                                        -   -    - --    -    -
* Figures for 1945 are based  on new sources and are not precisely comparable to prior years.          
2/ less than $50 million.                                                                              

SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

218

                                                       CONSUMER EXPENDITURES FOR GOODS                                 
NOTE: See p. 212                                            (Billions of Dollars)                                      
                             ____Durable Goods                          Nondurable Goods                                
Year                  Furniture                                                            Other                       
and     Total Total   Furnish- Automo- Other Total Food Clothing Tobacco Gaso- Non-                                    
Quarter Goods         ings &     biles & Durable              & Related           line durable                         
                      Equipment Parts Goods                Products           & Oil Goods                              
1939    $ 39.0 $ 6.4  ♦ 3.0     $ 2.3    $ 1.1   $ 32.6 #8.1 $ 6.8     $ 1.8    $ 2.1 ♦ 3.8                            
1940      41.8    7.4 3.3       2.8      1.2     34.4 19.1    7.1        2.0      2.1    4.1                           
1941     49.2   9.1   4.3       3.3      1.5     40.1 22.3    8.4        2.2      2.4    4.7                           
1942      54.2    6.3 3.9       0.6      1.8     47.9 27.9   10.2        2.5      1.9    5.4                           
1943      61.6    6.6 3.7       0.6      2.2     55.1 32.6 12.2        2.7      1.4    6.1                             
                      Mot Adjusted for Seasonal Variation                                                              
1944      66.7    6.7 3.8       0.6      2.3     60.0 36.1   13.2        2.8      1.5    6.4                           
I Qtr. 14.8    1.4    0.8       0.1      0.5     13.4   8.2    2.7        0.7      0.3    1.5                          
II Qtr. 16.3    1.6   1.0       0.2      0.5     14.7 8.9    3.2        0.7      0.4    1.5                            
III Qtr. 16.7    1.6  0.9       0.2      0.5     15.1 9.5    3.0       0.7      0.4    1.6                             
IV Qtr. 18.8    2.1   1.1       0.2 '   0.8     16.7 9.5    4.3        0.8      0.4    1.8                             
1945      71.8    7.4 4.2       0.7      2.5     64.4 38.3 14.6        3.1      1.7    6.7                             
I Qtr. 16.5    1.5    0.9   . o.l- 0.5     15.c 9.0    3.3        0.7      0.4    1.6                                  
II Qtr. 16.6    1.7   l.o       0.2      0.6     14.9   9.0    3.2        0.7      0.4    1.5                          
III Qtr. 17.4    1.7  0.9       0.2     0.6     15.7   9.7    3.2       0.8      0.4    1.6                            
IV Qtr. 21.3    2.5   1.4       0.2      0.9     18.8 10.6    4.8        1.0      0.5    1.9                           
1946                                                                                                                   
I Qtr.                                                                                                                 
H Qtr.                                                                                                                 
HI Qtr. J                                                                                                              
IV Qtr.                                                                                                                 
1947                                                                                                                    
I Qtr.                                                                                                                  
II Qtr. __                                                                                                              
III Qtr.                                                                                                               
IV Qtr. _                                                                                                              
                      Seasonally Adjusted Annual Rates                                                                 
1944                                                                                                                   
I Qtr. 65.4 •   6.6   3.7       0.6      2.3     58.8 35.0 13.0        2.9      1.5    6.3                             
II Qtr. 64.7    6.4   3.6       0.6      2.2     58.3 35.4 12.4        2.7      1.5    6.4                             
III Qtr. 67.7    6.8  3.8       0.6      2.3     60.9 36.6 13.5        2.8      1.4    6.5                             
IV Qtr. 68.9    7.1   4.1       0.7      2.3     61.8 37.3 13.8        2.7      1.5    6.5                             
1945                                                                                                                   
I Qtr. 72.4    7.2    4.2       0.7      2.4     65.2 38.5 15.5        2.9      1.6    6.7                             
II Qtr. 66.3    6.7   3.7       0.6      2.5    59.5 35.8 13.0        2.8      1.6    6.4                              
III Qtr. 70.4   7.1   3.9       0.7      2.6    63.3 37.4 14.5       3.2      1.6    6.6                               
IV Qtr. 77.9    8.4   5.0       0.8      2.6     69.5 41.5 15.4       3.6      1.9    7.1                              
1946                                                                                                                   
I Qtr.                                                                                                                 
II Qtr.                                                                                                                
Ill Qtr. “                                                                                                             
IV Qtr. "                                                                                                              
1947                                                                                                                   
I Qtr.                                                                                                                 
II Qtr.                                                                                                                
Ill Qtr.                .                                                                                               
IV Qtr. ______ _____  «MMMMMB      «MMNMM    «MMtaM»   «■*"****■ ■'■■■ I» II > ■ -W*-MM»       MMM*.     MNMM-M»  WMWMB

SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic Commerce«

219

                                               CONSUMER EXPENDITURES FOR SERVICES                             
NOTE: See p. 212                                     (Billions of Dollars)                                    
                  lousing          House-                                            Other                   
Year     Total    excl.   Home     hold     Personal  Trans-    • Medical Recre-     Services       Military 
and      Services Depre-  Mainten- Utili-   Services  porta-    Care      at ion     incl.          Personnel
Quarter           ciation ance     ties               tion                           Gifts          Abroad   
1939     $22.7    J 7.0   $ 1.4    $ 2.2    $ 1.5     $ 2.4       $ 2.6     » 1.5    $ 4.1                   
1940     23.9     7.3     1.5      2.3      1.6       2.4       2.8       1.8        4.4            ■--- *   
Ml       25.4     7.4     1.5      2.4      1.8       2.6       3.0          1.9     4.7            •• MM    
1242     27.8     7.8     1.8      2.6      2.0       3.0       3.3       2.3        4.9            0.1      
1943     29.7     8.0     1.9      2.8      2.3       3.3         ' 3.5   2.6        4.9            0.4      
                          Not      Adjusted for Seasonal Variation                                           
1944     31.8     8.1     2.5      3.0      2.5       3.6          3.6       2.8     5.0            0.8      
I Qtr.   7.8      2.0     0.5      0.8      0.6       0.8       1.0          0.7     1.2            0.2      
II Qtr,  7.9      2.0     0.6      0.7      0.6       0.9       0.9          0.7     1.2            0.2      
III Qtr. 8.0      2.0     0.7      0.7      0.6       1.0       0.9          0.7     1.3            0.2      
IV Qtr.  8.1      2.0     0.6      0.8      0.6       0.9       0.9       0.7        1.3            0.3      
1945     33.1     8.2     2.8      3.1      2.6       3.8       3.6       3.0        5.1            1.0      
I Qtr.   8.2      2.1     0.7      0.9      0.6       0.9       1.0       0.7        1.3            0.2      
II Qtr.  8.4      2.1     0.7      0.8      0.6       0.9       0.9       0.8        1.3            0.4      
Ill Qtr. 8.3      2.1     0.7      0.7      0.6       1.0       0.9       0.8        1.3            0.2      
IV Qtr.  8.2      2.1     0.7      0.8      0.7       1.0       0.9          0.7     1.3            0.1      
1946                                                                      ---        ---                     
I Qtr.                                                                                                       
H Qtr.                                                                                                       
Ill Qtr.                                                                                                     
IV Qtr.                                                                                                      
1947                                                                                                         
I Qtr.                                                                                                       
II Qtr.                                                                                                      
Ill Qtr.                                                                                                     
IV Qtr.                   Seasonally Adjusted         Annual    Rates                                        
1944                                                                                                         
I Qtr.   31.0     8.0     2.2      2.9      2.4       3.4          3.5       2.8     5.0            0.7      
II Qtr.  31.6     8.1     2.5      3.0      2.4       3.6       3.6          2.7     5.0            0.8      
in Qtr.  32.1     8.1     2.6      3.0      2.5       3.6       3.6          2.9     5.0            0.8      
IV Qtr.  32.4     8.1     2.5      3.0      2.5       3.7       3.6       2.9        5.0            1.1      
1945                                                                                                         
I Qtr.   32.6     8.2     2.7      3.1      2.6       3.7       3.6          2.8     5.0            0.9      
II Qtr.  33.7     8.2     2.7      3.1      2.5       3.8       3.6          3.1     5.0            1.7      
Ill Qtr. 33.3 '   8.2 '   2.9      3.1      2.6       3.7       3.6       3.2        5.1            0.8      
IV Qtr.  33.0     8.2     2.8      3.1      2.7       4.0       3.6       3.0        5.1            0.4      
1946                                                                                                         
I Qtr.            ------           ---      ■---  ■         ---                      - » --- ■ ---* ------   
II Qtr.                                                                                                      
Ill Qtr.                  ------            --------- ---------  ■ ---■■                            ------   
IV Qtr.                                                                                                      
1947                                                                                                         
I Qtr.                                                                    ------                             
II Qtr.                                                                                                      
Ill Qtr.          «WMMM   «MMMMMM»                                        «■MMMMVMMM                         
IV Qtr.                                                                                                      

SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

220

RELATION OF GROSS NATIONAL PRODUCT TO NATIONAL INCOME

NOTE» See p. 212                        (Billions of dollars)

                                  W3t                                 _________ADD:                    
Year     Gross        Business    Depre-                 Capital Out-               Adjustment         
and      National     Tax and     ciation   Other        lay Charged  Inventory     for        National
Quarter  Product      Nontax      and       Business     to Current   Revaluation   Dis-       Income  
                      Liabilities Depletion Reserves     Expense      Adjustment    crepancies         
1929     $ 99.1+      $ 7.0       ♦ 6.8     $ 1.0            ♦ .8        $ ---.5               $ 83.3  
1930     88.2             6.8     6.9       1.1               .8      -3.7                     68.9    
1931     72.1         6.2         6.7       1.3               .6      -2.8                     51+.5   
1932     55.1+        6.1         6.2       1.5              .1+      -1.2                     1+0.0   
1933     51+.8        6.6         6.0       1.1+             .1+      1.9           ---        1+2.3   
1931+    63.8             7.5     5.9       1.3               .5      .9                       1+9.5   
1935     70.8         8.1         5.9       1.1               .6      .6                       55.7    
1936     81.7         8.8         6.2       1.3          .8 -                     0            61+.9   
                                                                                 •>                    
1937     87.7         9.0         6.1       1.0               .8      .7                       71.5    
1938     80.6             8.3     6.2                         .5      -.9           ---        6h.2    
1939     88.6         10.1+       6.2       .8                .7      .1+           $ 0        70.8    
191+0    97.1         12.1+       6.1+      .7           .9           .1+           .1+        77.6    
Ml       120.2        <18.5       7.0       .8           1.3          3.2           1.1        96.9    
191+2    152.3        23.1        7.6       .6               1.1      2.1           • 2        122.2   
191+3    187.1+       27.1+       8.0       .5                .8      .2            -1.5       11+9.1+ 
191+1+   197.6        29.7        8.2                         .9      - .1          2.2        160.7   
I Qtr.   1+8.0        7.0         2.0       .1           • 2                        • 2        38.9    
II Qtr.  1+9.3        7.1+        2.0       .1           .2           •i                       39.6    
Ill Qtr. 1+9.3            7.6     2.0       .1           .2                                    1+0.2   
IV Qtr.  51.0             7.7     2.0       .1           •2                         1.0        1+1.9   
191+5    197.3        28.6        8.2       .5               1.1      y             2.0        161.0   
I Qtr.   1+9.8        7.3         2.0       .1               • 2                    .8         1+0.9   
II Qtr.  51.8         7.5         2.0       .1           .2                         -.6        1+1.3   
Ill Qtr. 1+8.7        7.3         2.0       .1                                      .8         39.8    
IV Qtr.  1+7.0        6.5         2.0       .1                .3                    1.0        39.0    
191+6    ---                                             ---                                           
I Qtr.                                      MM---                     -   -   -   - MM---              
II Qtr.  ---------    ---------   ------    ------       ------       ------        ------       ------
in Qtr.  ---------    ---------   ■■'■■■ »  ------                    ---------                     ---
IV Qtr.  ---                                                                                        ---
191+7                                                                                                  
I Qtr.   ------------ ---------             ------- ■" ■ ---                        ------_         ---
II Qtr.  ---------    ---------   ------    ------       ------       ---           ------          ---
Ill Qtr. ---------                ---                                 ---           ------          ---
IV Qtr.  ---          ---------   a»»»                   ------       ------        ------          ---

  3/ Less than $50 million

SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

221

NATIONAL TRODUCT AND NATIONAL INCOME

National Income

The national incone represents the aggregate value of the earnings of the labor and capital resources employed in the productive process, or, in other words, the sun of distributive shares ac-oruing to factors of production, including the net savings of corporations. (See also p. 212)

Total compensation of employees t- that portion of the national incone accruing to employees (before deductions of incone taxes), including salaries and wages both of civilians and the armed forces, work-relief wages, compensation for injuries, pensions granted under formal private plans, and contributions to social security programs.

Net__lncome_o£_2222E211etogg : - that portion of the national incone representing the net Incone of farm operators and Independent business and professional men, before payment of income taxes« Jjjtej^g^jgjgjjet^^ that portion of the national income representing net Interest, rents, and royalties paid to Individuals, after subtraction of expenses and depreciation, and excluding inter-business payments« Savings institutions for this purpose are considered as groups of individuals rather than businesses«

Net^jgorporate^Erofitg»- that portion of the national income representing the net profits of business corporations after the payment of corporate taxes« A fuller explanation of "profits" as used in the national income concept is given in the Handbook section on Industrial Activity, in connection with the table "Corporation Profits". The figures shown in this table differ somewhat from those shown here in connection with the national incomej the figures under "Corporate Profits" are later revisions made independently of national income considerations«

Disposition of the national income:- that part of the national income which does not become part of corporate savings nor is withheld for social security, together with transfer payments, constitute the total income payments received by Individuals« Part of these payments must of course go for taxes« The rest, or the disposable part of the individual*s income, is either expended for consumer goods or saved« The self-explanatory table shows the several items involved in the disposition of the national income.

Income payments to individuals:- income payments to individuals consist of salaries and wages, dividends and interest, rents, royalties, entrepreneurial income, direct relief, social security benefits, and other labor income. In other words, income payments are equal to the total national income plus (1) transfer payments — federal relief and veterans* pensions, state and local government relief, federal contributions to allowances for soldiers* dependents, food stamps and veterans' bonuses, benefit payments under the Social Security Act and Unemployment Compensation Act, the special railroad retirement and unemployment insurance schemes, and retirement payments to Federal, state and local employees — and minus (2) net corporate savings and contributions to social insurance funds«

Salaries_andjragesjₗ_bx_jBajOT_₋com2onent :- These series are part of the salary and wage component, of income payments, described above« They are available on a monthly basis. Information on monthly payrolls secured from the United States Bureau of Labor Statistics, the Interstate Commerce Commission, and other agencies is used in maintaining the series currently« Industry series for which direct payroll data are available account for over 90 percent of total salary and wage payments« In the case of industries for which no direct payrolls data are available, estimates of salaries and wages are based on related series which can be tied in with Census and Social Security benchmark data. The principal components shown are (1) gommodityjjr^^                    - including
agriculture, manufacturing, mining, and contract construction. (2) distributive industries - including trade, transportation, electric light and power and manufactûrêT'gâs/OTjïervl^ - including finance, service, communication and miscellaneous industries, (4) government and (5) work relief wages.


222

NATIONAL INCOI®

NOTE j See p. 221                (Billions of Dollars)                                       
                 C ompensation   Net Income of Proprietors   Interest                       
       Total     Of Employees          Agri-      Nonagri-   and      Net Corporate         
       National       Salaries         cul-       cul-       Net            Divi-    Profits
Year   Income   Total And tiares Total tural      tural      Rents    Total dends    Savings
l°O9   $23.7    $16.4            $6.3  _ _        MB MB      $3.8     $2.1  M BM     ---    
1910   30.4     17.7  mb bo       6.4  --- Ml     --- MB     4.0      2.3   BM MB    --- MB 
1911   30.5     13.0  •M MB       6.3          MB MB MB      4.2      2.0   MB BM    MO BM  
1912   32.9     19.2  •O ■■      7.0   MB MB      MB BM      4.3      2.5*  MB OB    BM «.  
1913   34.8     20.6  --- ---    7.0   --- ---    --- ---    4.5      • 2.3 MB OB    MB     
1914   33.9     20.2  --- MB     7.1   --- MB     _ ---      4.7      1.9   --- ---  --- ---
1915   37.0     21.1  MB M       8.1   MB «M      --- MB     4.9      2.9   --- MB   BM MB  
1916   U.S      24.4  --- MB     9.9   --- MB     MB         5.2      5.3   --- MB   MB BM  
1917   53.7     27.9  --- ---    14.0  MB BM      MB         5.6      6.1   --- ---  MB BO  
1918   58.3     35.0             13.3  MB ---     --- ---    6.1      3.9   MB _            
1919   68.2     38.3             17.0                        7.1      5.7                   
1920   69.5     45.1  --- MB     13.3  MB SB*                7.1      3.9   --- OB   --- ---
1921   51.7     36.1  --- «       8.5  «B BBB                7.1            M. BM    Ml MB  
1922   59.5     37.6  --- ---    10.3  MB MB                 7.6      3.9   BM MB    MB BM  
1923   69.5     44.2  --- ---    12.0  MB MB      - .        8.2      5.2                   
1924   69.1     44.1             12.1  MB MB                 8.6      4.3   BM MB    MB MB  
1925   73.7     45.8             13.7  --- ---    MB BM      8.7      5.5   M MB     BM MB  
1926   76.6     48.8             13.4  BM MB      MB BM      8.5      5.8   --- ---  BM OB  
1927   75.9     49.2  BM         12.8  Mt MB      MB MB      8.8      5.1   MB MB    * MB   
1928   78.7     50.1  - -        13.1  MB M       --- ---    9.2      6.3                   
1929   83.3     53.1    >52.6    13.6  $5.2       $8.5       9.4      7.2   $5.9     $1.3   
1930   68.9     48.2  47.6       10.0  3.8        6.3        8.9      1.7   5.6      - 3.9  
1931   54.5     40.6  40.0       7.3   2.4        4.8        8.2      1.6   4.3      - 5.9  
1932   40.0     31.7  31.0       4.8   1.5        3 »4       7.1      3.6   2.7      “6.4   
•1933  42.3     29.8  28.7        6.5  2.2        4.3        6.6      •6    2.2      - 2.8  
1934   49.5     34.5  32.6       7.5   2.7        4.9        6.9      .5    2.7      - 2.2  
1935   55.7     37.5  35.6       9.5   4.1        5.4        7.1      1.7   2.9      • 1.3  
1936   64.9     43.0  40.0       10.9  4.4        6.5        7.3      3.8   4.7      - .9   
1937   71.5     48.3  45.0       11.9  5.1        6.8        7.4      3.9   4.7      - .8   
1938   64.2     45.1  41.2       10.1  4.0        6.1        7.3      1.7   3.2      - 1.5  
1939   70.8     48.1  44.2       11.2  4.3        6.9        7.4      4.2   3.8      .4     
1940   77.6     52.3  48.6       12.0  4.4        7.6        7.5      5.8   4.0      1.8    
1941   96.9     64.5  60.8       15.8  6.3        9.6        8.0      8.5   4.5      4.0    
1942    122.2   84.1  80.8       20.6  9.7        10.9       8.8      8.7   4.3      4.4    
1943    149.4   106.3 103.1      23.5  111.9      11.6       9.7      9.8   4.3      5.5    

223

NATIONAL INCOLE

NOTE: See p. 221              __________________(Billions of Dollars)__________________________________  
                              Compensation       Net Income of Proprietors Interest                      
Year     Total                Of Employees             Agri- Nonagri- and      Net Corporate Profits     
and       National          Salaries           cul-     cul-       Net            Divi-                   
Quarter Income                Total And ’"ages Total tural tural       Rents Total dends Savings         
                              Not Adjusted for Seasonal Variation                                        
1944     $160.7               $116.0    $112.8     $24.1 $11.8   $12.3      $10.6 $9.9   $4.5 $5.4       
I Qtr. 38.9                   28.3      27.5       5.6     2.6      3.0         2.5    2.5      .9    1.5
II Qtr. 39.6                  28.8      28.0       5.5     2.5      3.0         2.8    2.5     1.1    1.5
III Qtr. 40.2                 29.1      28.3       6.0     3.0      3.1         2.6    2.4     1.0    1.4
IV Qtr. 41.9                  29.8      29.0       6.9     3.7      3.2         2.7    2.5     1.5    1.0
1945       161.0              114.5     111.4      25.6    12.5     13.1        11.8    9.0    4.5    4.5
I Qtr. 40.9                   29.8      29.0       5.7     2.5      3.2         2.9    2.6     1.0    1.6
II Qtr. 41.3                  29.8      29.0       5.8     2.6      3.2         3.1    2.6     1.1    1.5
III Qtr. 39.3                 28.2      27.5       6.6     3.4      3.2         2.8    2.1     1.0    1.1
IV Qtr. 39.0                  26.7    ’26.0       7.5     4.1      3.5         3.0    1.7     1.5     .2 
1946                          4                                                                          
I Qtr.                                                                                                    
II Qtr. ______ __                                                                                         
III Qtr.                                                                                                 
IV Qtr. ______                                                                                           
1947    ________________                                                                                  
I Qtr._________ _______                                                                                   
II Qtr. ______                                                                                           
III Qtr. ______                                                                                          
TV Qtr.                                                                                                  
                              Seasonally Adjusted Annual Rates                                           
1944                                                                                                     
I Qtr. 158.8                  114.2     111.0      24.3    12.2     12.1        10.4   9.9               
II Qtr. 160.2                 115.4     112.2      24.2    12.0     12.2        10.6   1C.1              
II7 Qtr. 160.4                116.7     113.5      23.3    11.1     12.3        10.6    3.1              
IV Qtr. 163.0                 117.7     114.5      24.5    11.8     12.7        10.9    9.9              
1945                                                                                                     
I Qtr. 167.6                  119.6     116.4      26.3    13.3     13.0        11.4 10.4                
II Qtr. 166.2                 118.3     115.1      25.8    13.2     12.6        11.7 10.4                
III Qtr. I58.4                113.0    110.0     25.1   12.2    12.9       11^                           
IV Qtr. I5O.7                 105.7     102.7      26.0    12.1     13.9        12.2    6.8              
1946                                                                                                     
I Qtr. ________                                                                                          
II Qtr. _______                                                                                          
III Qtr. __                                                                                              
IV Qtr. __                                                                                               
1947                                                                                                     
I Qtr.                                                                                                   
II Qtr. ____                                                                                             
HI Qtr. '                                                                                                
IV Qtr. __                                                                                               
--- ■" ......----------------                                                                            
1/ Less than $50,             000,000                                                                    
source. United states Department of Commerce, Sureau of Foreign and Domestic Commerce                     

22h


DISPOSITION OF NATIONAL INCOME AND INCOME PAYMENTS

NOTE: See p. 221                               (Billions of dollars)                                                           
                 ADD:            ass:                                     LESS:                 EQUALS:          lESS: EQÙAÏS: 
Year     Na-     Trans-   Cor-   Contri-       Income                      Personal Taxes and   Disposable   Con-      Net     
and      tional  fer      corate butions       Payments     Non-tax Payments                    Income of    sumer     Savings 
Quarter  Income  Pay-     Sav-   to Social to Indi---                                 State &   Individ-     Expend-   of Indi-
                 merits   k’ßL-  Insurance viduals          Total Federal           Local       uals         itures    viduals 
1929     1 83.3  $.7      $1.2   $ .2          $ 82.6       #3.0              $ 1.3 ♦ 1.7             ♦ 79.6    ♦ 70.8 * 8.8   
1930     68.9       .7    -3.9   .2            73.3         2.6         1.0             1.6     70.7         64.9      5.8     
1931     54.5    1.9      -5.8   • 2           62.0         2.h         .7          1.7 .       59.6         54.2      5.4     
1932     ho.o    1.3      -6.h   .2            h7.5         1.9         •h              1.5     45.6         43.0      2.6     
1933     42.3    l.h      -2.8   • 2           46.3         1.8         .5              1.3     44.5         42.4      2.1     
193h     49.5    1.5      -2.1   .2            52.9         1.9         •6              1.3     51.0         47.7      3.3     
1935     55.7    1.8      -1.3   •2            58.6         2.3         .8              1.5     56.3         52.2      4.1     
1936     6h.9    2.9      - .9   .6            68.1         2.9         1.2             1.7     65.2         59.1      6.1     
1937     71.5    1.7      - .8   1.7           72.3         3.1         1.4             1.7     69.2         62.5      6.7     
1938     6h.2    2.h      -1.5   1.9           66.2         3.3         1.6             1.7     62.9         58.5      4.4     
1939     70.8    2.h      ♦h     2.0           70.8         3.1         1.3             1.9     67.7         61.7      6.0     
19hO     77.6    2.6      1.8    2.1           76.2         3.3         1.4             1.9     72.9         65.7      7.3     
19hl     96.9    2.5      h.0    2.6           92.7         h.0         2.0         2.0         88.7         74.6      14.2    
1942     122.2   2.7      4.4    3.2           117.3        6.7         4.7         2.0         110.6        82.0      28.6    
         lh9.h   3.2      5.5    3.8           043.1        18.6        16.6        2.0         124.6        91.3      33.3    
w        160.7   5.3      5.4    3.9           156.8        19.h        17.4            2.1     137.4        98.5      38.9    
     I   38.9    1.2      1.5    1.0           37.7         5.7         5.1         .6          32.0         22.6      9.4     
     II  39.6    1.3      1.5    1.0           38.5         5.8         5.2         .6          32.8         24.2      8.5     
     hi  h0.2    1.3      l.h    1.0           39.2         h.3         4.0         .3          34.8         24.7      10.1    
     IV  41.9    1.4      1.0    1.0           hl.3         3.6         3.0         .6          37.7         26.9      10.8    
1945     161.0   8.1      h.5    3.8           160.7        21.0        18.9        . 2.1       139.7            104.9    ^    
     I   h0.9    1.5      1.6    1.0           39.8         8.7         8.1         .6          31.1         24.7              
     n   41.3    1.7      1.5    1.0           hO.h         4.9         4.3         .6          35.5         25.0      10.5    
     in  39.8    1.9      1.1    .9            39.7         3.8         3.5         .3          35.9         25.7      10.2    
     IV  39.0    3.0      •2     .9            h0.9         3.7         3.0         .6          37.2         29.5      7.7     
19h6                                                                                                                           
     I   ---              ------ - ------      ---__                ---         ---       •---• ---------„.~                   
     ii  ------  _ ------ ------  II ■■■ ---1  ---------    ---■ ------ ---■ ■ ---■    ■II .»■■ ---------     ■ ■•■---         
     in  ------           ------ ------.       ------------   --------- --- ■• ---  1111 ' ---■                    ---         
     IV                          "■ «_                  ---     ------- ---------        ------    --------- --------- . ______
19h7                                                                                                                           
     I   -------                 -   ------    ---------         ------ ------        ---------                                
     ii  1 "■■•■ » ------        _ ------      ---                      ------           ------                    --- . ---_  
     in  ■       * ------ MMM.  ■ ■■■          ---                  ---  ------ ---   ---------    --------- ---------         
     IV                   ------ .«_           ---------        ------■    - MMMWM»      ------          ---    ------ . ---   

SOURCE: United States Department of Comerce, Bureau of Foreign and Domestic Connie ree

225

DISPOSITION OF INCOME PAYMENTS

                      Seasonally Adjusted Annual Rates                   
NOTEs Sæ D. 221       (Billions of dollars)                              
                             TËSSt           “æïOW"     ÏESSi   EQUAÏSî 
          Income      Personal Taxes and     disposable Con-    Net     
Quarter   Payments to   Nontax Payments      Income of  sumer   Savings 
          Individuals    Fédéral State       Individ-   Expen-  of Indi-
                      Total 1/    & Local,   uals       ditures viduals 
Mb    I   ♦251*. 8    ♦19.1*   ♦ 17.3  #2.1  $135.5     $96.1*     ♦39.1
      II     156.1    19.1*      17.3 2.1    136.7      96.1*      1*0.3
      HI     156.7    19.3       17.2 2.1    137.1*     99.8        37.6
      IV    159.1*    19.7       17.6 2.1    139.7      101.3      38.1»
M5    I      163.7    22.1   20.0     2.1    11*1.7     105.0       36.7
      II  163.2       21.7   29.5     2.1    11*1.6     100.0      1*1.6
      III    158.6    20.6   18.5     2.1    138.0      . 103.7    31*.3
      IV     156.9    19.7   17.6     2.1    137.3      110.9      26.1*
191*6 I                                                                 
      II                                                                
      III                                                               
      IV                                                               -
191*7 I                                                                 
      II                                                                
      III                                                               
      IV                                                                
                                                                        

V Payments of individual income tax not withheld at source, have been distributed equally over the U quarters of the calendar year.








SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

226

                          INCOME   PAYMENTS TO INDIVIDUALS IN THE UNITED STATES                     
NOTE: See p. 221                   (Millions of Dollars)                                            
                                      INCOME PAYMENTS                                               
Tear           Total               Entrepreneu-           Pabilo     Other     Total       Total    
and                       Salaries rial Income  Dividends Assistance         Agricultu- Nonagricul- 
Month                     and      & Net Rents  and       & Other            ral Income tural Income
                          Wages 1/ & Royalties  Interest  Relief              Payments  Payments    
1929 Total ' : 1-82,987 : 152,512    117,199     #11,811     #60     # 1,005 #7,781     #71*,806    
Mo. Av.        6,882      1*,376   1,1*33       981*      5              81* 61*8       6,234       
1930 Total     73,31*6    1*7,602  12,907        11,682   91*        1,061   5,91*0     67,1*06     
Mo. Av.        6,112      3,967    1,076        973       8          88      1*95         * 5/617   
1931 Total     62,013     1*0,027     9,531      10,237   158        2,060   l*,02i*    57,989      
Mo. Av.        5,168      3,336    791*         853       13         172     335        1*,832      
1932 Total     1*7,1*11*  31,103   6,320        8,355     326        1,310   2,671*     1*1*,71*0   
Mo. Av.        3,951      2,592    527          696       27         109     223        3,728       
1933 Total     1*6,271    29,290   8,006        7,303     580        1,092   3,1*1*9    1*2,822     
Mo. Av.        3,856      2,1*1*1  667          609       1*8             91 287        3,568       
1931* Total    52,916     33,922      9,255     7,901     829        1,009   l*,081     1*8,835     
Mo. Av.        1*,1*1D    . 2,827  771          658       69             81* 31*0       l*,070      
1935 Total       58,563   36,895   11,1*36      8,037     1,099      1,096   5,732      52,831      
/ Ifo. AV,     l*,88O     3,075    953          670       92              91 1*78       l*,l*03     
1936 Total       68,055   1*2,067  13,003       9,785     672        2,528   6,11*2     61,913      
Mo. Av.        5,671      3,506    1,081*       815       56         211     512        5,159       
1937 Total     72,351     1*6,189  11*, 162     9,891     836        1,273   6,91*8     65,1*03     
Mo. Av.        6,029      3,81*9   1,180        821*      70         106     579        5,1*50      
1938 Total       66,166   1*2,851  12,369       8,21*0    1,008      1,698   5,751*     60,1*12     
Mo. Av.        5,5H*      3,571    1,031        687       81*        11*1    1*80       5,031*      
1939 Total     70,829     1*5,658  13,1*1*1     8,891 '   1,071      1,768   6,050      61*,779     
Mo. Av.        5,902      3,805    1,120        71*1      89         11*7    501*       5,398       
Aug.           5,1*83     3,710    1,106        1*23      88         156     506        1*,977      
19U0 Total     76,237     1*9,700  H*,313       9,175     1,098      1,951   6,159      70,078      
Mo. Av.        6,353      1*,H*2   1,193        765       92         163     513        5,81*0      
191*1 Total    92,732     61,371*  18,599       9,761     1,112      1,886   8,551      81*,181     
Mo. Av.        7,728      5,115    1,550        813       93            .157 713        7,015       
Jan.           6,786      1*,1*53  1,285        787       96         165     515        6,271 .     
Dec.           9,1*90     5,813       '1,831    1,591*    92         160     903        8,587       
19h2 Total     117,285    80,1*07  23,933       9,771     1,061      2,113   12,71*9    101*,536    
Mo. Av.        9,771*     6,701    1,991*       811*      88         176     1,062      8,711       
May            8,861*     6,355    1,762        1*92      89         166     831        8,033       
Sept.            10,659   7,181*   2,290        911*      85         186     1,377      9,282       
Oct.             11,053   7,1*91   2,1*95       791*      85         188     1,582      9,h71       
191*3 Total    11*3,131*  101,791  27,161       10,389    939        2,85U   15,1*61    127,673     
Mo. Av.          11,928   8,1*83   2,263        866       78         238     1,288      10,639      
May              11,253   8,328    2,126        1*98      76         225     1,153      10,100      
I9IU* Total    156,791*   111,731* 28,017       11,195    91*3       l*,9O5  15,696     11*1,098    
Mo. Av,          13,066   9,311    2,335        933       79         1*09    1,308      11,758      
Jan,            12,51*1   9,039    2,275        831*      79         311*    1,217      11,321*     
Feb.             12,206   9,180    2,137        1*59      79         351     ‘ 1,088    11,118      
March            12,979   9,138    2,186        1,161     79         1*15    1,127      13.,852     
April            12,582   9,lh5    2,127        811       78         1*21    1,086      11,1*96     
May              12,387   9,223    2,175        1*91*     78         1*17    1,11*5     11,21*2     
June             13,573   9,31*1*  2,189        1,551*    78         1*08    1,177      12,396      
July             12,928   9,281*   2,21*1       911*      78         1*11    1,21*7     11,681      
Aug.             12,586   9,301*   2,300        1*86      78         1*18    1,317      11,269      
Sept.            13,670   9,375    2,1*71*      1,317     78         1*26    1,1*92     12,178      
Oct.           13,681*    9,51*1   2,801        829       79         1*31*   1,807      11,877      
Nov.             13,253   9,508    2,716        509       79         1*1*1   1,670      11,583      
Dec.           11*,1*05   9,653    2,396        1,827     80         1*1*9   1,323      13,082      

227

                    INCOLE PAYMENTS TO      INDIVIDUALS IN THE' UNITED STATES                    
NOTE: See  P« 221                    (Millions of Dollars)                                       
                                   INCOME PAYMENTS                                               
Year                           Entrepreneu-             Public            Total      Total       
and        Total    Salaries   rial Income  Dividends   Assistance Other  Agricultu- Nonagricui- 
Month               and        & Net Rents  and         & Other           ral Income turai Income
                    Wages 1/   & Royalties  Interest    Relief            Payments   Payments    
19U5 Total $160,773 $110,193   $29,737      $12,223          $ 988 $7,632 $16,658    $ 144,115   
Mo« Av.    13,390   9,133      2,478        1,019       82         636    1,388      12,010      
Jan«       13,357   9,516      2,369        936         80         456    1,233      12,124      
Feb.       12,743   9,526      2,190        490         80         457    1,065      11,678      
Mar«       13,686   9,585      2,212        1,344       80         465    1,095      12,591      
April      13,194   9,560      2,276        808         80         470    1,207      11,987      
May        12,835   9,518      2,252        498         81         486    1,189      11,646      
June       14,397   9,572      2,275        1,853       81         616    1,222      13,175      
July       13,585   9,445      2,523        955         81         581    1,485      12,100      
Aug.       12,674   9,021      2,504        495         82         572    1,474      11,200      
Sept.      13,424   8,708      2,586        1,383       83         664    1,556      11,868      
Oct.       13,531   8,674      3,042        870         85         860    1,943      11,588      
Nov.       13,075   8,543      2,909        535         87          1,001 1,763      11,312      
Dec.       14,272   8,525      2,599        2,056       88         1,004  . 1,426    12,846      
1946 Total                                                                                       
Mo. Av.                                                                                          
Jan.       01(7     -8.179_-   2.609        1,122       90         1,047  1.328      11.719      
Feb.       12,068   8.01(1     2,415        525                    995,   1.138      10,930      
March      13,086   8,267      2.380        1.362                  963            _w 11.977      
April                                                                                            
June                                                                                             
July                                                                                             
Aug.                                                                                             
Sept.                                                                                            
Oct.                                                                                             
Nov.                                                                                             
Dec«                                                                                             
1947 Total                                                                                       
Mo« Av.                                                                              •           
Jan«                                                                                             
Feb«                                                                                             
Mar«                                                                                             
Apr«                           1                                                                 
May                                                                                              
June                                                                                             
July                                                                                             
Aug.                                                                                             
  Sept«                                                                                          
Oct«                                                                                             
Nov«                                                                                             
Deo«                                                                                             

]/ Includes income in kind as well as in cash« Includes payments made to Federal Civilian and Military Personnel stationed outside the continental United States«

SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

228

TOTAL SALARIES AND WAGES BY MAJOR COMPONENTS

NOTE: See P. 221       (Income Payments Series - Millions of Dollars)     
Year                   Commodity   Distrib-                        Work  
and          Total     Producing    utive    Service    Government Relief
Month                  Industries Industries Industries            Wages 
1529 Total   $52,512    $22,132   $14,232    $11,182    $ 4,966          
Mo. Av.      1*,376    1,81*1*    1,186      932        414        •" •» 
1930 Total   - 1*7,602 18,773     13,215     10,522     5,092      «a ---
Mo. Av.      3,967     1,561*     1,101      877        424        SS *  
1931 Total   1*0,027   14,321      11,1*55   9,120      5,072      * 59  
Mo. Av.      3,336     1,193      955        760        423             5
1932 Total   31,103    9,696      8,887      7,473      4,915      132   
Mo. Av.      2,592     808        741        623        410            il
1933 Total   29,290    9,1*32     8,080      6,734      4,388      656   
Mo. Av.      2,1*1*1   786        673        561        366            55
1934 Total   33,922    11,670     9,026      7,283      4,556      1,387 
Mo. Av.      2,827     972        752        607        380        116   
1935 Total   36,895    13,218     9,681      7,691      4,976      1,329 
Mo. Av.      3,075     1,101      807        641        415        111   
1936 Total   1*2,067"  15,31*7    10,758     8,403      5,404      2,155 
Mo. Av.      3,506     1,279      896        700        450        180   
1937 Total   1*6,189   17$8O7     11,866     9,216      5,661      1,639 
Mo. Av.      3,81*9    1,1*81*    989        768        472        137   
1938 Total   1*2,851   14,781*    11,236     8,807      5,930      2,094 
Mo. Av.      3,571     1,232      936        734        494        174   
1939 Total   1*5,658   16,475     11,906 -   9,219      6,188      1,870 
Mo. Av.      3,805     1,373      992        768        516 .      156   
Aug.         3,710     1,403      992        759        421        135   
1940 Total   1*9,700   18,920     12,761     9,732      6,710      1,577 
Mo. Av.      4,142     1,577      1,063      811        559        131   
1941 Total   61,371*   26,458     14,793     10,783     8,127      1,213 
Mo. Av.      5,115     2,205      1,233      899        677        301   
Jan.         1*,1*53   1,777      1,094      834        617        131   
Dec.         5,813     2,508      1,456      970        792            87
191*2 Total  80,1*07   37,897     16,409     11,915     13,596     586   
Mo. Av.      6,701     3,158      1,367      993        1,113          49
May          6,355     2,968      1,339      982        1,008          58
Sept. .      7,181*    3,517      1,378      993        1,266      30    
Oct.         7,1*91    3,607      1,428      1,016      1,414          26
191*3 Total  101,791   47,453     18,394       13,095   22,791         58
Mo. Av.      8,1*83    3,954      1,533      1,091      1,899           5
May          8,328     3,927      1,487      1,077      1,833      4     
191*1* Total 111,731*  48,375     21,031       14,517   27,811      ss aa
Mo. Av.      9,311     4,031      1,753      1,210      2,318      a» sa 
Jan.         9,039     4,050      1,645      1,153      2,191      --- «B
Feb.         9,180     4,01*4     1,773      1,168      2,195      è» *  
March        9,138     4,009      1,724      1,174      2,231      OB *  
April        9,H*5     3,995      1,693      1,183      2,274      «a a» 
May          9,223     4,008      1,707      1,212      2,296        ss *
June         9,31*1*   4,051      1,730      1,223      2,340       aa a»
July         9,281*    4,045      1,749      1,241      2,249      sa «a 
Aug.         9,301*    4,056      1,759      1,234      2,255      aa a» 
Sept.        9,375     4,039      1,755      1,213      2,368        «a V
Oct.         9,51*1    4,066      1,798      1,224      2,453       sa as
Nov.         9,508     4,010      1,808      1,234      2,456       as aa
Dec.         9,653     4,002      1,890      1,258      2,503      as a» 

229

                     TOTAL SAURIES AND WAGES BI MAJOR COMPONENTS                         
NOTE: See p. 221     (Income Payments Series - Millions <  >f Dollars)                   
I ear                Commodity  Distrib-                                            Work
and        Total     Producing  utive                      Service    Government  Relief
Month                Industries Industries                 Industries              Wages
1945 Total $ 110,193 #42,834    $22,573                     $15,604   $29,182           
Mo. Av.    9,183     3,570      1,881                      1,300      2,432             
Jan.       9,516     3,954      1,809                      1,256      2,497             
Feb.       9,526     3,957      1,797                      1,267      2,505      --- me 
March      9,585     3,944                1,841            1,270      2,530             
April      9,560     3,897      1,831                      1,264      2,568             
May        9,518     3,838      1,831                      1,277      2,572      ■B •»  
June       9,572     3,831      1,859                      1,292      2,590      • *    
July       9,445     3,746      1,886                      1,314      2,499      ■m e»  
Aug.       9,021     3,423      1,862                      1,298      2,438      •• MB  
Sept.      8,708     3,106      1,890                      1,296      2,416      • *    
Oct.       8,674     3,048      1,928                      1,316      2,382      «■» am 
Nov.       8,543     3,044      1,966                      1,363      2,170      •» 0»  
Dec.       8,525     3,046      2,073                      1,391      2,015      --- ---
1946 Total                                                                              
Mo. Av.                                                                                 
Jan.                            2.018                       _ 1,396    _11827-   •• me  
Feb.       8,041     2,897      2,021                                 1,692      w ■»   
March      8,267                2.070                      1J63                  •» MB  
April                                                                                   
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec.                                                                                    
1947 Total                                                                              
Mo. Av.                                                                                 
Jan.                                                                                    
Feb.                                                                                    
March                                                                                   
April                                                                                   
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec.                                                                                    

SOURCE: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

230

INDEXES OF INCOME PAYMENTS

NOTE*
See p. 221            (Adjusted for Seasonal Variation — 1935-39 = 100)

               Total    Total                             Total     Total     
Year  Total    Salaries Nonagri- Year  Total              Salaries  Nonagri-  
and   Income   and      cultural and   Income             and       cultural  
Month Payments Wages    Income   Month Payments           Wages     Income    
1929  122.9    122.9    122.5    1945        239.3        257.9     236.0     
1930  109.2    111.4    110.4    Jan.        241.9        268.6     238.7     
1931  92.3     93.7     95.0     Feb.  245.2              269.8     239.6     
1932  70.6     72.8     73.3     Mar.        244.1        269.7     239.7     
1933  68.9     68.5     70.1     Apr.        242.3        267.5     238.1     
                                 May   241.9              265.8     237.7     
                                 June  244.6              266.3     241.2     
1934  78.8     79.4     80.0     July        243.4        265.5     240.3     
1935  87.2     86.3     86.5     Aug.        236.0        254.9     232.7     
1936  101.3    98.4     101.4    Sept. 229.0              243.4     226.7     
1937  107.7    108.1    107.1 .  Oct.  231.4              239.5     229.5     
1938  98.5     100.3    98.9     Nov.  235.7              238.5     232.2     
                                 Dec.        234.1        236.1     230.5     
1939  105.4    106.8    106.1    1946                                         
Aug.  105.8    107.0    106.7    Jan.                     231.1     229.3     
1940  113.5    116.3    114.8    Feb.  233.5              227.8     '    226.1
1941  138.0    143.6    137.8          231.7                                  
Jan.  121.3    125.1    122.5    Mar.  232.3              232.4     228.7     
Dec.  153.7    162.0    152.1                                                 
                                 Apr.  ---                ---       --------- 
1942  174.5    188.2    171.2    May                                          
May   167.8    179.6    164.7    June  ---                ---------           
Sept. 182.5    198.3    178.8    July  ---                ---                 
Oct.  187.2    204.7    183.6    Aug.                                         
1943  213.0    238.2    209.1                                                 
May   209.4    233.0    204.6    Sept.                                        
                                 Oct.  ---                ---       ---       
1944  233.3    261.5    231.1    Nov.                                         
Jan.  227.2    255.7    224.2          ------------------ ------    ------    
Feb.  232.4    261.1    228.7     1947                                        
Mar.  231.9    258.8    228.7     Jan.                                        
Apr.  231.1    258.3    228.4                                                 
May   232.1    259.1    229.2    Feb.                                         
June  233.9    261.7    231.1    Mar.                                         
July  233.2    263.0    232.3                             ---------           
Aug.  234.0    263.1    232.3    Apr.  ---                                    
Sept. 232.5    262.0    231.9    May   ---                          ---       
Oct.  235.5    263.4    ' 233.6  June                                         
Nov.  237.5    264.7    235.3    July                                         
Dec.  239.0    266.9    236.9    Aug.                                         
                                 Sept.                                        
                                 Oct.  ---                ---                 
                                 Nov.  ---                ---       ---       
                                 Dec.                                         

Source: United States Department of Commerce, Bureau of Foreign and Domestic Commerce

231


FEDERAL FISCAL ACTIVITY



Federal Government Receipts and Expenditures

     These series are based on data compiled by the United States Treasury Department,and are published in the “Daily Treasury Statement“ and the Bulletin of the Treasury Department«



Budgetary Receipts and Expenditures

     These series cover all transactions' — cash, noncash, and bookkeeping — relating to the budget of the United States. They reflect the budgetary position of the Federal Government. The specific series shown in the Handbook are briefly defined as follows:

     Gross Receipts:- The total of budgetary receipts from internal revenue, customs and other sources as specified below:
          JsiilfS^LJfe vejiue/^JEncq^^                   Includes all
          income and profits taxes plus unjust enrichment taxes and Victory Taxes. Beginning July 1943, this series includes collections of taxes withheld by employers under the Current Tax Payment Act of 1943.
          Paternal Revenue - Other:- Includes employment taxes (social security and railroad retirement taxes), alcoholic beverage taxes, tobacco taxes, manufacturers’ and retailers* excise taxes, estate taxes, and miscellaneous internal revenue. Other Gross Receipts:- Includes customs and the deposits by the War, Navy and Treasury Departments and the United States Maritime Commission resulting from the renegotiation of war contracts, interest on foreign obligations, etc.

     Net Receipts:- Equals gross receipts minus the amount transferred to Federal Old-Age and Survivors Insurance Trust Fund.

     Total Expenditures:- The total of budgetary expenditures (which excludes expenditures for public debt retirement which are chargeable to the sinking fund, etc. under special provisions of law) as specified below:
          War Activities:- Includes expenditures of the War and-Navy Departments and expenditures for miscellaneous war activities of other government departments.
          Other Expenditures:- Includes expenditures of the Veterans’ Administration, Works Progress Administration, and the Civilian Conservation Corps; expenditures for public works, aid to agriculture, social security programs; expenditures classified as transfers to trust accounts for government employees retirement and insurance funds; and departmental expenditures not elsewhere classified.

     Net Budgetary Deficit:- Equals the difference between total expenditures and net receipts as described above.


232

BUDGETARY RECEIPTS AND EXPENDITURES OF THE FEDERAL GOVERNMENT

NOTE: See p. 231                  (Millions of D   0 liars)                                 
                        Receipts                            .Expenditures ---              
                   Internal Revenue       Other    Net      Total   War    All Net         
Year   Total    Total   Income & Other    Gross    Receipts        Activ- Other Budgetary   
and    Gross            Profits  Internal Receipts                 ities 1/ Surplus or      
Month  Receipts         Taxes    Revenues                                   Deficit (-)     
                                                                                           
                                                                                           
1913   ♦ 724    ♦344    ♦ 35     ♦ 309    ♦ 380       ♦ 724  ♦ 725 ♦ 335    ♦ 389       ♦ 0
1914   735      380     71       309      355           735    735 348      387           0
July   73       32      7              25 41             73     76 n.a»     n.a»         -3
1915   698      416     80          ‘ 335 282 '    698         761 344      417     -63    
1916   783      513     125      388      270           783    734 337      497          48
1917   1,124    809     360      450      315      1,124    1,978  618      1,360   -853   
April  94       65      25             40 29             94    290 n.a*     n.a.    -196   
1918   3,665    3,18b   2,314    872      *   479  3,665    12,697 6,149    6,548   -9,032 
Nov#   311      129     29       ICO      182           311 1,935  n.a.     n.a.    -1,624 
1919   5,152    4,315   3,019    1,297    837      5,152    ±8,515 11,011   7,503   -13,363
1920   6,695    5,405   3,945    1,460    1,290    6,695    6,403  2,358    4,045   291    
1921   5,625    4,596   3,206    1,390    1,029    5,625    5,116  1,768    3,347   509    
1922 \ 4,109    3,213   2,068    1,145    896      4,109    3,373  935      2,438   736    
1923   4,007    2,624   1,679    946      1,383    4,007    3,295  730      2,564   713    
392h   4,012    2,795   1,842    953      1,217    4,012    3,049  689      2,359   963    
1925   3,780    2,589   1,761    829      1,191    3,780    3,063  717      2,346   717    
1926   3,963    2,838   1,982    856      1,125    3,963    3,098  677      2,421   865    
1927   4,129    2,869   2,225    644      1,260    4,129    2,974  688      2,286     1,155
1928   4,042    2,795   2,174    621      1,247    4,042    3,103  732      2,371   939    
1929   4,033    2,938   2,331    607      1,095    4,033    3,299  791      2,508   734    
1930   4,178    3,039   2,411    628      1,139    4,178    3,440  839      2,601   738    
1931   3,190    2,430   1,860    569      760      3,190    3,652  832      2,819   -462   
1932   2,006    1,561   1,057    504      445      2,006    4,535  753      3,782   -2,529 
1933   2,080    1,604   746      858      475      2,080    3,864  680      3,184   -1,784 
1934   3,116    2,641   818      1,823    475      3,116    6,011  531      5,480.  -2,896 
1935   3,800    3,278   1,099    2,179    523      3,800    7,010  689      6,321   -3,209 
1936   4,116    3,513   1,427    2,086    >603     4,116    8,666  900      7,766   -4,550 
1937   5,294    4,597   2,163    2,434    696      5,029    8,177  929      7,248   -3,149 
1938   6,242    5,674   2,640    3,034    567      5,855    7,239  1,029    6,210   -1,384 
1939   5,668    . 5,161 2,189    2,972    507      5,165    8,707  1,206    7,501   -3,542 
                                                                                           
                                                                                           
1939   5,484    4,943   1,844    3,100    542      4,918    8,885  1,358    7,527   -3,967 
Aug.,  420      374     37       337      46       372         774 121      653     -402   
1940   6,416    5,823   2,367    3,457    593      5,834    9,657  2,777    6,880   -3,823 
1941   9,612    8,6hH   4,253    4,385    971      8,849    19,053 12,704   6,349   -10,204
Jan.   372      319     63       257      52            340 1,111  589      522     -771   
Dec.   1,214    1,159   767      392      55       1,212    2,542  1,850    692     -1,329 
1942   17,388   16,745  11,067   5,680    638        16,403 56,020 49,862   6,158   -39,617
May    764      708     216      492      56       563      3,953  3,560    394     -3,391 
Sept.  2,528    2,476   2,126    350      51       2,527    5,931  5,384    546     -3,404 
Oct#   648      603     206      398      44            607 5,937  5,481    457     -5,331 
1943   35,764   33,130  26,547   6,581    2,636    34,552   88,084 81,860   6,224   -53,530
May    1,742    1,581   940      641      161      1,480    7,435  7,092    343     -5,955 
1944   45,709   42,259  34,329   7,932    3,452    44,421   97,158 89,327   7,833   -52,737
Jan#   2,779    2,188   1,727    461      591      2,747    7,570  7,138    431     -4,823 
Feb.   2,754    2,464   1,747    717      290      2,503    7,862  7,518    344     -5,359 
Mar.   6,576    6,353   5,911    442      223      6,573    8,525  7,726    799     -1,952 
Apr.   3,119    2,935   2,475    460      187      3,087    7,859  7,346    513     -4,772 
May    3,256    3,024   2,167    857      233      2,950    8,292  7,879    413     -5,342 
June   6,249    5,734   5,241    493      514      6,247    8,625  7,567    1,058   -2,378 
July   2,212    1,985   1,247    737      227      2,163    8,110  7,201    909     -5,947 
Aug.   2,859    2,702   1,552    1,151    157      2,568    8,119  7,571    549     -5,551 
Sept.  5,927    5,749   5,174    575      178      5,926    7,930  6,998    932     -2,004 
Oct.   2,054    1,880   1,240    640      174      2,001    8,024  7,479    545     -6,023 
Nov.   2,506    2,300   1,501    800      205      2,240    7,828  7,421    427     -5,587 
Dec#   5,418    4,945   4,347    599      473      5,416    8,416  7,503    913     -2,999 

233

                  BUDGETARY RECEIPTS AND EXPENDITURES OF THE FEDERAL GOVERNMENT
NOTE* See p» 231                       (Millions of Dollars)_____________________

                           Receipts                   Expenditures                
               Internal Revenue____ Other    Net      Total War    All Net        
Year  Total    Total Income & Other Gross    Receipts Activ- Other     Budgetary  
and   Gross        Profits Internal Receipts          ities 1/         Surplus or 
Month Receipts    Taxes    Revenues                                    Deficit (-)
                                                                                         
1945  $47,302 $ 43,233 * 34,212 $ 9,021 $4,069 $46,046 $90,552 $78,556 $ 11,995  $-44,505
Jan.  3,587     3,042  2,422    621     545    3,556   8,202   7,551     650    -4,645   
Feb.  3,987     3,815  2,922    893     172      3,767 7,460   6,948        511 -3,693   
Mar.  6,908     6,431  5,818    613     477    6,892     9,433 8,246      1,187 -2,540   
April 2,967     2,746  2,167    579     221      2,929 7,968   7,139     830    -5,040   
May   3,398     2,921  2,027    894     477    3,085     9,275 8,156      1,118 -6,190   
June  5,916     4,384  4,757    627     531    5,914     9,641 7,837      1,804 -3,727   
July  2,754     2,527  1,743    784     228    2,695     8,557 7,325      1,232 -5,862   
Aug.  3,281     2,849  1,665      1,183 432      2,997   7,354 6,399        955 -4,357   
Sept. 5,192     4,847  4,208    639     345      5,189   6,611   5,367    1,244 -1,422   
Oct.  2,581     2,340  1,593    747     241      2,530   5,950 5,126        825 -3,420   
Nov.  2,609     2,383  1,524    859     226    2,374     4,656 4,226        430 -2,282   
Dec.  4,122     3,948  3,366    582     174      4,118   5,445   4,245    1,201 -1,327   
1946  3.87?     Jiltfl ■2.755   696     396    3.81?   3.510   3.1117    1.1175    -J^OLL
Jan.  5.762     3.681» ,2^120.  _M         191   3.678 JiM     2,702        808       168
Feb.            5.583  Ju&Ô.               ISO  5.71.7         .-2.550.   2.051     1.156
Mar.                                                                                     
Apr.                                                                                     
May                                                                                      
June                                                                                     
July                                                                                     
Aug.                                                                                     
Sept.                                                                                    
Oct.                                                                                     
Nov.                                                                                     
Dec.  ---       ---    ---          ---            ---     ---       --- ---    ---------
1947                                                                                     
Jan.  ---       ---    ---          --- ---        ---     ---           ---          ---
Feb.                                                                                     
Mar.                                                                                     
Apr.                                                                                     
May                                                                                      
June                                                                                     
July                                                                                     
Aug.                                                                                     
Sept.                                                                                    
Oct.                                                                                     
Nov.                                                                                     
Dec.                                                                                     

  1/ For fiscal years 1913-1932 data consist of total expenditures of War and Navy Departments» For subsequent years, data show United States Treasury Department estimates of total defense expenditures including work done by civilian agencies

Source: United States Treasury Department

23h

FEDERAL FISCAL ACTIVITY



Total Cash Income and. Outgo of the Federal Government



           These series reflect the cash position of the Federal Government* and therefore do not agree with the budgetary series on receipts* expenditures, and deficit appearing above in the section on Budgetary Receipts and Expenditures,

           The series are intended to show the net flow of cash between the Government and the private economy. They therefore include the cash transactions of both the Treasury and Government corporations and credit agencies. For a detailed explanation of the differences between these series and the budgetary series* see the Treasury Bulletin* February 1939,

           Total Cash Income?- Equals the total cash income of the Treasury, including budgetary income, unemployment trust fund deposits by States and the Railroad Retirement Board, other trust accounts^and cash income of Government corporations and credit agencies«

           Total Cash Outgo:- Equals the total budgetary cash outgo* the cash outgo of trust funds* the Reconstruction Finance Corporation* Commodity Credit Corporation* other Government corporations and credit agencies, and the redemption of adjusted service bonds.

           Excess of Cash Outgo?- Equals the excess cash outgo of the Treasury* including the excess cash outgo of Government corporations and credit agencies.

Public Debt and Guaranteed Obligations of the United States Government«

           These series show the total debt of the United States Government and the interest charge thereon. The debt is divided into two categories:
           Public debt* so called* consists of the direct borrowing of the United States Treasury; and
           Guaranteed obligations* the borrowings of Federal Corporations,

           Computed annual interest charge: — Represents annual interest cHargiT'oirTirTjuKsTan^                of the government as of the
           date of the report,


235

CASH INCCME AND OUTGO OF THE FEDERAL GOVERNMENT

                   (Millions of dollars)                            
Tear                    Excess of   Year               Excess of   
and    Income  Outgo    Income (/)V and   Income Outgo Income (/J^ 
Month                   or Outgo    Month              or Outgo (-)
1931*  #3,620  ♦7,600   ♦ -3,980    191*6                          
1935 . l*,01*7 7,01*5   -2,998                                     
1936   l*,606  8,71*2   -1*,136     Jan.  3,993  5,619 -1,626      
1937   7,063   7,391*   -331                                       
1938   6,992   8,687    -1.695      Feb.  1*,277 3,907          370
1939   6,551   9,1*83   -2,932                                     
Aug.   589     989      -1*00       March ^¿5o_  Ju2êL 1,789       
19 hO  7,569   10,317   -2,71*8                                    
                                    April                          
191*1  10,859  20,81*1  -9,982                                     
Jan.   1*75    1>179    -701*                                      
                                    May                            
Dec.   1,288   2,778    -1,1*90                                    
191*2  19,257  57,959   -38,701                                    
                                    June                           
May    1,036   l*,l*70  -3,1*31*                                   
Sept.  2,621   5,989    -3,368                                     
                                    July                           
Oct.   770     6,203    -5,1*31*                                   
19h3   38,21*6 89,331*  -51,089                                    
May    2,098   7,1*1*9  -5,352      Aug.                           
                                                                   
191*1* 1*8,885 95,1*1*9 -4*6,565    Sept.                          
Jan.   2,91*5  7,567    -4*,623                                    
Feb.   3,133   8,032    •4*,899     Oct.                           
March  6,702   8,575    -1,873                                     
April  3,358   7,709    -4*,351     Nov.                           
May    3,686   8,061    4*,375                 •                   
June   6,381*  8,530    -2,11*6     Dec.                           
July   2,392   7,301    -4*,909                                    
Aug.   3,313   8,221    -I*,908                                    
Sept.  6,099   7,770    -1,671      191*7                          
Oct.   2,301*  7,978    -5,671*                                    
Nov.   2,965   7,1*61   -4*,1*96    Jan.               -           
Dec.   5,601*  8,21*1*  -2,61*0                                    
                                    Feb.                           
191*5  51,376  87,906 . -36,530                                    
Jan.   3,800   7,805    -4*,ool*    March                          
Feb.   l*,l*00 7,21*3   -2,81*2                                    
March  7,168   8,953    -1,786      April                          
April  3,225   7,826    -l*,601                                    
May            8,1*91*  -4*,587     May                            
       3,908   8,967 1  -2,823                                     
June   6,151*                                                      
July   3,012   8,000    ■4*,988     June                           
Aug.   3,713   7,855    -1*,11*2                                   
Sept.  5,597   6,650    -1,053      July                           
Oct.   2,905   6,007    -3,101                                     
Nov.   3,087   l*,8O9   -1,722      Aug.                           
Dec.   l*,l*07 5,299    -892                                       
                                    Sept.                          
                                    Oct.                           
                                    Nov.                           
                                    Dec.                           

                                                      1J TJl 11 not always equal income minus outgo because of rounding.

SOURCES United States Treasury Department

236

PUBLIC DEBT AND GUARANTEED OBLIGATIONS OF THE UNITED STATES GOVERNMENT

HOffi SM p, 234                 (Millions of dollars)
Public Debt              Guaranteed Obligations ~
   End of         Total                T&iteresrt Bearing                    Compute!
   Tear or Gross Non-                       Computed      Interest           Annual
   Month          Debt Interest Amount Annual In- Bearing Matured Interest*
Bearing           terest Charge                   Charge^/
-------------------- - Fiscal Years ----------------------#23 23                                                          -         -        -
                                              23            -         -      -
                                              23            -         -      -

1923         $1,193   $227  »966   
1914         1,188    220   968    
1915         1,191    222   970    
1916         1,225    254   972    
1917         2,976    263   2,713  
1917 - April 1,544    256   1,288  
1918         12,244   258   11,986 
1918 - Nov.  19,438   287   19,151 
1919         25,482   248   25,234 
1920         24,299   237   24,063 
1921         23,977   239   23,739 
1922         22,963   253   22,710 
1923         22,350   343   22,007 
1924         21,251   270   20,981 
1925         20,516   305   20,211 
1926         19,643   259   19,384 
1927         18,512   259   18,253 
1928         17,604   287   17,318 
1929         16,931   292   16,639 
1930         16,185   263   15,922 
1931         16,801   282   16,520 
1932         19,487   326   19,161 
1933         22,539   381   22,158 
1934         27,734   573   26,480 
1935         32,824   1,056 27,645 
1936         38,497   790   32,989 
1937         t 41,090 625   35,800 
1938         42,018   589   36,576 
1939         45,891   554   39,886 
                                   
1939 - Aug.  46,380   540   40,351 
1939 - Dec.  47,645   496   41,445 
194o - Dec.  50,941   566   44,458 
1941 - Jan.  51,792   556   45,320 
1941 - Dec.  64,262   487   57,451 
1942 - May   74,258   462   68,108 
1942 - Sept. 91,058   636   85,847 
1942 - Oct.  97,169   639   92,265 
1942 - Dec.  112,471  862   107,308
1943 - May   140,003  1,238 134,675
1943 - Dec.  170,108  1,370 164,508
1944 - Jan.  174,933  3,615 167,043
- Feb.       187,339  1,398 181,709
- Mar.       186,993  1,367 183,348
- April      187,241  1,554 183,413
- May        188,035  1,492 184,874
- June       202,626  1,460 199,543
- July       210,138  1,456 207,117
- Aug.       211,369  1,514 208,289
- Sept.      211,064  1,646 207,850
- Oct.       211,807  1,636 208,608
- Nov.       216,537  4,230 210,774
- Dec.       232,144  1,739 228,891
84            a»          e»
33                  ■»    ••
469                 •*      
785                 V»      
1,054         ---   ---  ---
1,017                       
1,030                       
963                         
927                         
877                         
830                         
. 793                      *
723           «»            
671                         
657           ---   ---  ---
606                         
589                         
672                         
742                         
842           ♦ 681     ♦ 28
751           4,123     112 
838           4,718     125 
924           4,665 $ 0 123 
947           4,853 0   121 
1,037         5,450 1   112 
Years - - - -               
1,051         5,489 0   203 
1,077         5,621 83  206 
1,141         5,901 16  111 
1,152         5,901 11» 111 
1,384         6,317 7   119 
1,600         5,667 21  206 
1,853         4,552 22  84  
1,961»        4,243 22  81  
2,210         4,283 18  82  
2,683         4,082 9   80  
3,217         4,225 6   81  
3,273         4,269 6   82  
3,544         4,227 6   82  
3,567         2,258 20  34  
3,573         2,258 16  34  
3,598         1,529 140 20  
3,849         1,516 107 20  
3,990         1,468 97  19  
4,015         1,475 92  20  
4,026         1,480 88  20  
4,041         1,480 83  20  
4,073         1,470 63  20  
4,393         1,470 44  20  

237

PUBLIC DEBT AMD GUARANTEED OBLIGATIONS OF THE UNITED STATES GOVERNMENT

NOTE: See p. 234                      (Millions of dollars)                             
                                      Public    Debt           Guaranteed Obligations    
End of       Total                    Interest Bearing                         Computed 
Year or      Gross           Non-               Computed      Interest         Annual   
Month        Debt            Interest Amount    Annual In-    Bearing  Matured  Interest
                             Bearing            terest Charge                  (Chargel/
                                                                                        
1945 - Jan.  $233,938        $1,736   $230,672  $4,437        $ 1,496      $34       $20
- Feb.       234,851         1,853    231,854   4,465         1,114    30      16       
- ¡larch     235,094         1,923    232,026   4,472         1,119    25      16       
- April      236,224         2,006    233,063   4,496         1,332    23      16       
- May        240,003         3,070    235,761   4,553         1,151    20      17       
- June       259,115         2,326    256,357   4,964         409      24      5        
- July       262,550         2,264    259,781   5,048         484      21      6        
- Aug.       263,535         2,255    260,746   5,071         515      19      6        
- Sept.      262,565         2,391    259,630   5,044         527      18      7        
- Oct.       262,376         2,378    259,439   5,045         541      17      7        
- Nov.       265,894         2,493    262,849   5,126         536      16      7        
- Dec.       278,682         2,421    275,694   5,416         553      15      7        
1946 - Jan.  - 279.445       1,431    277,456   5,465         ---&5_   13      7        
- Feb.       279,764         _i^oi_   277,912   - 5.479       539      12               
- March      276,565.        1,263    274,74g   JÄ            . 542    11               
- April                                                                                 
v May                                                                                   
- June                                                                                  
- July                                                                                  
- Aug.                                                                                  
--- Sept.                                                                               
- Oct.                                                                                  
- Nov.                                                                                  
- Dec.                                                                                  
1947 - Jan.                                                                             
- Feb.                                                                                  
- March                                                                                 
- April                               -                                                 
- May                                                                                   
- June                                                                                  
- July                                                                                  
- Aug.                                                                                  
- Sept.                                                                                 
- Oct.                                                                                  
- Nov.                                                                                  
- Dec.       --------------- ------   ------    ------        ------                    

1/ Partly estimated

SOURCE: United States Treasury Department

238

FEDERAL FISCAL ACTIVITY







           United States Savings Bonds, Sales and Redemption» by Serie»

          Series are shown separately for the following types of bonds* which have been on sale since May 1» 1941:

               Serie# 1 bond»:- 10~year discount bonds sold at 75 percent of maturity value, yielding 2.90 percent per annum if held to maturity; purchases are limited to $3,750 issue price in any one calendar year and may be made only by individuals;

               3»ri»» ? bond»:- 12~year discount bonds sold at 75 percent of maturity value* yielding 2,53 percent per annum if held to maturity^ and

               Series G bonds:- 12-year current income bonds, sold at par* bearing interest at the rate of 2.50 percent per annum, redeemable at par on maturity, or at stated prices less than par before maturity.

          Purchases of Series F and G bonds in any one calendar year are limited to $100,000 issue price for the two series combined ($50,000 in the calendar year 1941) and may be made by any investor other than commercial banks*


239

                      SALES AND REDEMPTIONS OF UNITED STATED SAVINGS     BONDS                    
                                       (Millions of Dollars)                                      
                      Series  E                       Series F                    Series G        
Year                          Total                            Total                     Total    
and      Gross        Redemp- Out-         Gross    Redemp-    Out-      Gross   Redenp- Out-     
Month    Sales        tions   standing     Sales    tions      standing  Sales   tions   standing 
         2/                                                                           J/          
1941 1/  $ 1,144.7    $ 11.1  $ 1,133.6 $  207.7    $ .4       $ 207.3$1,184.9     $ 2.1 $ 1,182.8
May "    100.6              * 100.6        37.8              0      37.8 211.4         0     211.4
Dec.     341.1        3.1     1,133.6      33.3     .2             207.3 154.2        .7 1,182.8  
1942     5,988.8      209.2   6,923.2      652.0    7.0            853.9 2,516.1 29.3    3,669.5  
May      421.8        10.4    3,248.9      42.5     .5             458.4 170.1       2.3 2,256.9  
Sept.    509.9        22.5    5,088.8      60.8     .6             684.0 184.0       2.8 3,099.7  
Oct.     664.8        28.1    5,726.3      60.6     .9             744.2 209.6       3.2 3,306.1  
1943       10,344.4   1,380.2 15,957.2     745.1    34.8       1,568.7   2,639.9 88.9    6,220.5  
May      995.2        86.5    10,709.0     85.9     2.8        1,209.5   253.9     ' 8.2 4,982.0  
1944     13,379.9     3,004.6 25,514.5     772.8    77.2       2,277.6 2,891.4     181.3 8,930.6  
1945     9,822.1      4,962.9 30,726.7     595.2    105.5      2,792.7   2,519.7   264.1 11,186.3 
Jan.     803.8        305.9   26,041.9     . 42.0   7.4        2,314.6   228.3   20.1    9,138.8  
Feb.     653.2        290.5   26,428.0     30.7     8.6        2,338.0   164.1   18.0    9,284.9  
March    712.1        406.4   26,760.2     26.5     9.1        2,357.3   150.5   22.4    9,412.9  
April    684.4        358.7   27,109.3     23.1     5.8        2,376.3   130.1   16.6    9,526.4  
May      1,194.7      375.9   27,948.5     62.9     7.7        2,433.3   282.4   20.6    9,788.2  
June     1,467.7      351.9   29,097.1     178.0    8.9        2,604.4    532.4  21.8    10,298.8 
July     1,031.8      375.4   29,790.9     47.4     8.4        2,646.6   215.3   22.2    10,491.8 
Aug.     571.3        485.0   29,904.8     21.6     8.2        2,661.7   106.8   21.9    10,576.7 
Sept.    420.1        466.6    .29,869.3   17.8     8.0        2,673.8      76.3 19.8    10,633.2 
Oct.     509.7        562.3   29,844.4     7.9      9.8        2,674.1   106.8   23.5    10,716.6 
Nov.     865.0        474.4   30,263.3     53.8     10.0         2,720.0 264.8   26.2    10,955.2 
Dec.     908.2        489.8   30,726.7     83.3     13.5       2,792.7   262.0   30.9    11,186.3 
1946                                                                                              
Jan.     640.9        541.2   30,870.3     40.3     13.6       2,823.5   278.4   32.5    11,432.1 
Feb.     367.0        492.2   30,777.8     30.3     14.8       2,841.1   225.2   29.7    11,627.6 
March    371.3        550.2   30,634.6     27.1     16.4       2,854.8   228.0   37.1    11,818.4 
April    387.8        545.8   30,512.7     29.5     13.3       2,873.6   250.5   30.7    12,038.2 
May                                                                                               
June                                                                                              
July                                                                                              
Aug.                                                                                              
Sept.                                                                                             
Oct.                                                                                              
Nov.                                                                                              
Dec.                                                                                              
1947                                                                                              
Jan.                                                                                              
Feb.                                                                                              
March                                                                                             
April                                                                                             
May                                                                                               
June                                                                                              
July                                                                                              
Aug.                                                                                              
Sept.                                                                                             
Oct.                                                                                              
Nov.                                                                                              
Dec.                                                                                              
                                                                                                  
* Less than $50.000.                                                                              
1/ Total for 8 months only.   3/ Including interest accrued.                                      
2/ Total funds received.      y End        of Year  or Month.                                     

SOURCE: United States Treasury Department

2hO

SOCIAL SECURITY ACTIVITY



These series are cospiled by the Social Security Board from the statistical data developed as a byproduct of the administration of the various social insurance and public assistance programs under the Social Security Act and under other government social insurance and related programs» Historical data are published annually in the Social Security Yearbook; current data are published monthly in ^e Social Security Bulletin»

Persons who use these series are advised to acquire a broad knowledge of the Social Security Act and related legislation» By all means, they should first refer to the general descriptions and discussions of the series as presented in the Social Security Yearbook» despite the fact that the tables shown in this Handbook are, together with the footnotes, almost completely self-explanatory. The general explanations and footnotes to the tables included herein follows

Amount of Benefits Under Selected Social Insurance and Related Programs:- Benefits are defined as payments to individuals: amounts certified, under the Social Security and Railroad Retirement Acts (including retroactive payments) and the Railroad Unemployment Insurance Act; disbursements minus cancellations, under Civil Service Commission and Veterans Administration programs; checks issued by State agencies, under State unemployment insurance and Rhode Island sickness compensation programs and under the Servicemen’s Readjustment Act»

Footnotes to the table: 1/ Old-age retirement benefits under all acts, disability retirement benefits under the Railroad Retirement and Civil Service Retirement Acts, and disability payments to veterans.

2/ Primary and wife’s benefits and benefits to children of primary beneficiaries» Partly estimated»

¿/ Age and disability annuitants and pensioners as of 20th of month» Payments represent amounts certified, minus cancellations. Widows receiving both survivor and death-benefit annuities are counted twice, but 2 or more individuals sharing 1 death-benefit annuity are counted as 1» Monthly payments to survivors include annuities to widows under joint and survivor elections and 12—month death-benefit annuities to widows and next of kin.

4/ Retirement and disability benefits include survivor benefits under joint and survivor elections; not adjusted for suspension of annuities of persons reemployed under the National Defense Acts of June 28, 1940, and Jan. 24, 1942. Payments principally from civil-service retirement and disability fund but also include payments from Canal Zone and Alaska Railroad retirement and disability funds administered by Civil Service Commission» Monthly retirement payments include accrued


2hl

SOCIAL SECURITY ACTIVITY

  Amount of Benefits Under Selected Social Insurance and Related Programs ¿(cont’d*)
  annuities to date of death paid to survivors. Refunds to employees leaving the service are not included but will be summarised twice a year in the Bulletin.

  ¿/ Veterans’ pensions and compensation.

  6/ Widow’s, widow’s current, parent’s, and child’s benefits« Partly estimated.

  2/ Payments to widows, parents, and children of deceased veterans«

  8/ Number of decedents on whose account lump-sum payments were made, and amount of such payments«

  2/ Payments for burial of deceased veterans«

 10/ Number represents average weekly number of beneficiaries« Annual amounts adjusted for voided benefit cheeks; monthly amounts not adjusted« State unemployment compensation data for January 1946 partly estimated«

 11/ Readjustment allowances to unemployed veterans only« Number represents average weekly number of veterans paid readjustment allowances during weeks ended in the month« Amounts before July 1945 represent payments during weeks ended in the month; for July and subsequent months, payments are on calendar-month basis« Payments for December 1945 and January 1946 partly estimated«

 12/ Number represents average number of persons receiving benefits for unemployment in a 14-day registration period. Annual amounts adjusted for under-payments and recoveries of overpayments; monthly figures not adjusted«

 12/ Number of veterans and amount paid during month

 Number of Beneficidaries Under Selected Social Insurance and Related Programs: - The note and footnotes to^this table are Identical wTEH”TFios€r3jnn^ above, for the table on benefit payments«




tiW’KX < > 4ti — — I ti


242

             AMOUNT OF BENEFITS UNDER SELECTED SOCIAL INSURANCE AND RELATED PROGRAMS*
NOTE: See p. 240                       (Thousands of Dollars)

Retirement, bisability and Survivor Programs                                                       
                                                                                  ivors Benefits  
                Monthly Retirement and Disability Benefits 1/                         Monthly     
Year                                         Civil   Veter-                                 Veter-
and   Total              Rail-               Serv-   ans                         Rail-    ans     
Month           Social   road                ice     Ad-            Social       road     Ad-     
                Secu-    Retire-             Com-    minis-         Secu-        Retire- minis-   
                rity     ment                mis-    tra-           rity         ment      tra-   
                Act 2/   Act 3/              sion 4/ tion 5/        Act 6/       Act 3/ tion 7/   
1936  $ 458,896          $    683            $51,630 $299,001                    $    2   $ 99,992
1937  501,664   * «•     40,001              53,694  299,660        --- »        444    96,370    
1938  969,600   * _      96,766              56,118  301,277        --- «9       .1,383    101,492
1939  1,043,089 --- ---  107,282             58,331  307,512        --- ---      1,451   109,192  
1940  1,188,702 $ 21,074 114,166             62,019  317,851        $ 7,784      1,448    105,69 6
Ml    1,085,488 55,141   119,912             64,933  320,561        25,454       1,559    111,799 
M2    1,130,721 80,305   122,806             68,115  325,265        41,702       1,603    111,193 
19113 921,463   97,257   125,795             72,961  331,350        57,763       1,704    116,133 
Mil   1,119,684 119,009  129,707             78,081  456,279        76,942       1,765    144,302 
1945  2,067,365 157,392  137,140             85,742  697,788             104,232 1,772    254,593 
Jan.  111,997   11,257   11,065              6,856   46,993         7,507        143     13,891   
Feb.  112,099   11,548   11,184              6,810   46,971         7,755        143     14,404   
Mar.  119,752   11,925   11,253              6,962   49,039         8,094        146     16,042   
Apr.  121,845   12,155   11,270              6,974   50,306         8,297        151     18,450   
May   129,463   12,450   11,247              7,119   • 51,950       8,478        147     22,085   
June  136,847   12,701   11,379              7,137   54,804         8,707        152     22,613   
July  145,207   12,974   11,448              7,220   57,228         8,773        148     23,492   
Aug.  152,765   13,348   11,484              7,263   59,483         8,889        149     23,450   
Sept. 191,492   13,666   11,559              7,246   63,558         9,005        150     23,164   
Oct,  265,150   14,599   11,630              7,337   69,602         9,415        148     25,511   
Nov.  279,640   15,221   11,757              7,377   71,174         9,621        147     24,292   
Dec.  303,478   15,548   11,864              7,440   76,680         9,690        149     27,200   
1946                                                                                              
Jan.  380,581   16,329   11,997              7,542   80,183         9,943        150     26,511   
Feb.  411,740   16,973   12,085              7,560   89,000         10,093       149     29,500   
Mar.            17,797   12,238                      93,325         10,414       150     30,000   
Apr.                                                                                              
May                                                                                               
June                                                                                              
July                                                                                              
Aug.                                                                                              
Sept.                                                                                             
Oct.                                                                                              
Nov,                                                                                              
Dec.                                                                                              
1947                                                                                              
Jan.                                                                                              
Feb.                                                                                              
Mar.                                                                                              
Apr.                                                                                              
May                                                                              *                
June                                                                                              
July                                                                                              
Aug.                                                                                              
Sept.                                                                                             
Oct,                                                                                              
Nov,                                                                                              
Dec.                     ........ ...-,,.... ---     -------------- ------------ --- ------------ 

See Footnotes and Sources on page 240.

         AMOUNT OF BENEFITS UNDER SELECTED SOCIAL INSURANCE AND REIATED PROGRAMS, CONT'D.*         
NOTE: Se se p. 24O                          (Thousands of Dollars)                                 
         Retirement, Disability and Survivor Programs        unemployment Insurance               
                   Survivor Benefits                                 Programs            Payments 
                   Lump-Sum b/                             STaT©               "Hall-'   to Self- 
                                                  Rhode    Unem-     Serv-     road      employed 
Tear                             Civil    Veter-  Island   ploy-     ice-      Unem-     Veterans 
and                Rail-         Serv-    ans     Sick-    ment      men's     ploy      under    
Month    Social    road          ice      Ad-     ne ss    Cora-     Read-     ment      the Serv-
         Secu-     Retire«       ■ Com-   minis-  Can---   pensa-    just-     Insur---  icemen's 
         rity      ment          mis-     tra-    pensai   tion      ment      ance      Read-    
         Act       Act 3/        sion y   tion 9/ tion 10/ Laws 10/  Act iy    Act 12/   justment 
                                                                                         Act 13/. 
1936               cm            $ 4,062  $ 3,395 * MB     $    131                               
1937     $ 1,278   - ••          4,401    3,684   --- mb   2,132     MB MB         CM MB MB MB    
1938     10,478    $ 291         4,604    3,405   ch OB    393,786   MB CM          CM * --- MB   
1939     13,896    1,926         4,952    3,553   --- cm   429,298   MB MB     I 5,696   MB BM    
1940     11,736    2,497         5,810    3,960   * *      518,700   --- CM    15,961    --- MB   
1941     13,328    3,421         6,170    4,352   --- ---  344,321   --- CM    14,537    MB *     
1942     15,038    4,114         6,108    4,120   cm mb    344,084   BO CM     6,268     MB MB    
1943     17,830    5,560         7,344    4,350   $ 2,857  79,643    M» *      917       CM CM    
1944     22,146    6,591         7,863    4,784    5,035   62,385    $ 4,113   582       $    102 
1945     26,136    8,138         10,244   5,007    4,669   445,866   114,612   2,359      11,675  
Jan»     2,18?     599           830      371     318      7,299     2,442     111       126      
Feb.     2,131     534           788      319     290      6,435     2,413     98        225      
Mar.     2,63h     764           1,257    .388    362      7,242     3,139     100       404      
Apr.     2,370     748           968      363     387      6,179     2,540     63        623      
May      2,563     874           1,102    438     524      7,044     2,501     45        897      
June     2,3h6     716           956      462     517      9,686     3,572     42        1,059    
July     2,033     649           928      469     469      14,352    3,778     35        1,210    
Aug.     2,021     693           842      461     425      17,948    5,013     72        1,223    
Sept.    1,697     736           672      453     367      50,439    7,457     118       1,205    
Oct.     2,432     658           835      500     355      106,449   14,088    337       1,254    
Nov.     1,811     588           700      4o6     329      108,555   25,770    553       1,338    
Dec.     1,857     578           366      377     317      106,624   41,900    777       2,111    
19b6                                                                                              
Jan.     '2,539    812’          ”1',T9‘6 Wüst      ’3#"   ■133,246' ‘ 83,352' ~T,351’   "T,W '   
Feb.     2,154     751           908      395     303      121,000   112,195   2,207     6,467    
Mar.     2,263     883                    525     343      126,000   148,700   3,210      14,627  
Apr.     ---                              ---                                  --------- ---      
May                                                                                               
June                                                                                              
July                                                                                              
Aug.                                                                                              
Sept.                                                                                             
Oct.                                                                                              
Nov.                                                                                              
Dec.                                                                                              
1947                                                                                              
Jan.               ---                                     ---                                    
Feb.                                                                                              
Mar.                                                                                              
Apr.                                                                                              
May                                                                                               
June                                                                                              
July                                                                                              
Aug.                                                                                              
Sept.                                                                                             
Oct.                                                                                              
Nov.                                                                                              
Dec.                                                                                              

See Footnotes and Sources on page 2h0.

244

NUMBER OF BENEFICIARIES UNDER SEIECTED SOCIAL INSURANCE AND REIATED PROGRAMS * -

NOTE: See p. 241               (Number in Thousands)                                    
                          Retirement,  Disability and Suvivor Programs                 
       Monthly Retirement and  Disability Benefits 1/       Survivors Benefits         
                                                                       Monthly         
                               Civil   Veter-                                   Veter- 
Year          Rail-            Serv-   ans                              Rail-   ans    
and    Social road             ice     Ad-             Social           road    Ad-    
Month  Secu-  Retire-          Coti-   minis-          Secu---          Retire- minis- 
       rity   ment             mis-    tra-            rity             ment    tra-   
       Act y       Act 3/      sion 4/ tion 5/         Act 6/           Act 3/  tion 7/
1938          121.5                                                     2.0            
1939   --- MB 136.0            -• ' MB                                  2.8            
1940   150.6  146.0            65.2    --- *           75.1             3.3            
1941   271.5  152.9            68.6    •• MB           168.5            3.6            
1942   351.8  154.9            72.7    624.1           255.1            3.8     315.9  
1943   411.4  159.0            76.8    648.6           344.6            4.1     322.7  
1944   508.7  163.5            83.9    955.7           454.3            4.3     372.7  
1945                                                                                   
Jan.   522.6  163.9            84.8    982.3           467.0            4.3     380.9  
Feb.   533.9  164.9            85.4    1008.1          479.4            4.2     386.3  
Mar.   547.1  165.5            86.0    1037.8          494.7            4.3     405.7  
Apr.   558.4  166.0            86.6    1070.3          510.0            4.3     459.5  
May    570.6  166.4            87.3    1105.6          523.7            4.3     500.9  
June   582.0  167.1            88.0    1144.2          537.0            4.4     537.3  
July   595.3  167.8            88.8    1194.3          546.8            4.4     570.7  
Aug.   609.4  168.5            89.4    1245.8          554.2            4.4     600.8  
Sept.  624.4  169.5            89.9    1309.3          564.1            4.4     628.8  
Oct.   652.6  170.5            90.9    1389.8          579.8            4.4     656.1  
Nov.   677.7  171.8            91.7    1464.8          592.0            4.4     680.2  
Dec.   695.9  172.9            92.5    1533.6          601.2            4.4     697.5  
1946                                                                                   
Jan.   724.9  174.2            93.7    1620.7          613.8            4.4     725.0  
Feb.   750.0  175.7            94.5    1714.5          623.2            4.5     736.9  
Mar.   778.7  177.4                    1866.5          634.9            4.5     751.0  
Apr.                                                                                   
May                                                                                    
June .                                                                                 
July                                                                                   
Aug.                                                                                   
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                                   
Dec.                                                                                   
1947                                                                                   
Jan.                                                                                   
Feb.                                                                                   
                                                                                        
Apr.                                                                                    
May                                                                                     
June                                                                                    
July                                                                                    
Aug.                                                                                    
Sept.                                                                                   
Oct.                                                                                    
Nov.                                                                                    
Dec.            ------------                                                           

* See Footnotes and Sources on page 241.

245

      NUMBER OF BENEFICIARIES UNDER SELECTED SOCIAL INSURANCE AND RELATED PROGRAMS, CONT'D.* NOTE: See p. 241________________________(Number in Thousands)

      Retirement, Disability and Survivor Programs      Unemployment Insurance      Payments       
      Survivor Benefits                               Programs _______ to Self-                    
                                      Lump-Sum b/___________ Stale                Rail-    employed
                                                  Rhode      Unem-     Serv----   road     Veterans
      Civil Veter- Island    ploy-     ice-     Unem-    under                                     
Year  Rail--- Serv- ans      Sick---     ment       men* s     ploy      the Serv«                 
and   Social  road    ice     Ad---     ness      Com       Read---    ment      icemen's          
Month Secu-   Retire- Com-    minis-  Corn-      pensa-    just-    Insur-   Read-                 
      rity    ment    mis---    tra---    pensa---    tion      ment      ance      justment       
      Act      Act 2/  sion 4/ tion 2/ tion 10/  Laws 10/  Act 11/  Act 12/  Act ¿2/               
1938  9.0       1*1»                                                                               
1939  6.8       .7      - -     - -     - -       658.3      - -      37.3                         
1910  7.3     1.0      .6     --     --       666.6     --     73*7                                
1941* 8.2      1.2       .5     - -     - -       523.0     - -      22*4                          
1942  9.7      1.2       .6      3.3      - -        192.6      - -        3.3                     
1943  10.5       1.2       1.4      3.3       lx.l          61x.lx       - -          .7           
1944  13.0       l.li       l.lx      3.6      lx.5          711.9     16.8         1.2        .8  
191x5 15.4      1.5      1.5      3.7      li.lx         1011.8     23.7         1.9      1.3      
Jan*  15.1x       l.lx       1.5       3.1x       lx.3         100.1     26.1         1.8       2.2
Feb*  18.7      2.0      2.8      3.8      5.0        103.2     27.8        1.6      li.O          
Mar*  17.0      1.9      2.0      3.7      5.3         87.2     28.3        1.2      6.3           
Apr*  18.5      2.2      2.3      ix.li      7.2          98.0     28.1          .8      8.9       
May   17.0      1.9      2.0      lx.6      7.1        129.h     31.8         .8     10.6          
June  14.7      1.7      2.0      4.7      6.b        185.5     38.5         .6     11.9           
July  llx.7      1.7      1.8      4.7      5.8        230.5     44.1        1.2     12.4          
Aug*  12.1      1.8      1.4      4.7      5.0        612.1     73.2        2.1     12.3           
Sept* 16.6      1.5      1.7      5.0      4.9       1271.7    122.9        5.8     12.6           
Oct*  12.9.     1.4      1.3      4.1      4.5       1313.5    217.7        9.3     13.5           
Nov.  13.2      1.3       .7      3.8      4.4       1319.0    405.0       12.7     21.1           
Dec*                                                                                               
191x6                                                                                              
Jan.  17.8      1.8      2.6      4.5      4.4       1625.0    695.5       21.9     44.0           
Feb.  15.0      1.5      1.7      4.0      4.5       1628.0   1071.1       40.3     63.2           
Mar.  15.9      1.8               5.3      4.7       1573.0 1505.1       51.0    141.9             
Apr*                                                                                               
May                                                                                                
June                                                                                               
July                                                                                               
Aug*                                                                                               
Sept*                                                                                              
Oct*                                                                                               
Nov*                                                                                               
Dec*                                                                                               
191x7                                                                                              
Jan.                                                                                               
Feb.                                                                                               
Mar.                                                                                               
Apr.                                                                                               
May                                                                                                
June                                                                                               
July                                                                                               
Aug.                                                                                               
Sept.                                                                                              
Oct.                                                                                               
Nov.                                                                                               
Dec.                                                                                               

* See Footnotes and Sources on page 241.

2U6

SOCIAL SECURITY ACTIVITY

 Old-Age and Survivors Insurance: Summary of Selected Data;-Footnotes to the table: J/^ Cumulative total for 1936-39 excludes 114,000 voided account numbers for which no accounts were established« Excludes numbers under railroad retirement program, totaling about 2.3 million by end of 1944«
 2/ Workers with first wage credits in specified year under program. ¿/ Partly estimated; adjusted for workers having more than 1 account« Quarterly data unadjusted for workers employed during quarter but not reported after quarter in which they received their first $3,000 in year.
 4/ Not adjusted for nontaxable wages erroneously reported and wages excluded in benefit computations. Wages in excess of $3,000 a year paid to worker by any 1 employer are not taxable. Beginning 1940, all wages in excess of $3,000 a year received by a worker are excluded in benefit computations.
 2/ Number of employer returns. A return may relate to more than 1 establishment if employer operates several separate establishments but reports for concern as a whole.
 6/ Includes retroactive payments.
 2/ Amounts certified in 1937-39 were payments under the 1935 act, i.e., payments with respect to workers who died prior to January 1940 and, through Aug. 9, 1939, payments to workers at age 6 5. Amounts certified in 1940 and later were, in general, payments under the 1939 amendments, i.e., payments with respect to workers who died after December 1939 with no survivor entitled to monthly benefits for month in which worker died. However, the following amounts certified in 1940 and later with respect to workers who died prior to 1940 are included: 1940, $2,831,000; 1941, $180,000; 1942, $79,000; 1943, $32,000; 1944, $22,000.
 8/ Total benefits awarded after adjustment for terminations and subsequent changes in number end amount of benefits, cumulative beginning January 1940.
 2/ Includes 17,202,000 accounts established in 1936.
10/ Annual figure includes 114,076 accounts established for civilian employees of the War Department and 4,571 additional accounts not included in quarterly data.

Unemployment Compensation: Summary of Selected Data: - Footnotes to TEertahErr'XniTOragerweinny'D^                               benefits
during month or year.
2/ Annual amounts, except for 1936 and 1937, adjusted, but monthly figures not adjusted, for voided benefit checks.
3/ Excludes railroads and other groups subject, as of July 1, 1939, to Railroad Unemployment Insurance Act. Data for 19hh estimated.

2U7

SOCIAL SECURITY ACTIVITY

 Unemployment Compensation: Summary of Selected Data: - Footnotes to the table: (cont’dT) J
 ¿/ Annual figures represent average monthly employment; monthly figures, workers in covered employment in last pay period of each type (weekly, semimonthly, etc.) ended in month.
 ¿/ Total wages in covered employment for all pay periods ended in year or quarter.
 6/ Excludes Alaska and Hawaii for 1939-44, and forestry and fishing for 1936-39. Data from War Manpower Commission, Reports and Analysis Service, transferred, with the U.S. Employment Service, to the U.S. Department of Labor, September 19, 1945.
 7/ For date benefits first payable in the various States, see the Social Security Bulletin.
 8/ Not available.
 2/ For 1938 and 1939, represents number of benefit payments. For 1939, includes 43,082 payments resulting from recalculation of weekly benefit amounts in Ohio.
10/ Adjusted to include, for New York, nontaxable wages (wages in excess of $3,000 to an individual for 1 employer).
11/ Includes $1,176,983 resulting from recalculation of weekly benefit amounts in Ohio.                                               
IgZ Includes $104,172 for 1942 and #77,306 for 1943 resulting from review of 1938-41 seasonal claims in Oregon, and $12,000 for 1943 resulting from delayed payments for 1941-42 claims in Colorado; not distributed by month.

Public Assistance; Payments, by Program:- See footnotes on table in the Handbook.               ”

Public Assistance; Recipients, by Program;- See footnotes on table in the Handbook.

Financial Operations of Selected Social Insurance Trust Funds:- The data presented in this table are compiled by the Social Security Board from the Daily Statement of the U.S, Treasury. For explanatory notes on the series included, see the footnotes at the close of the table.


OLD-AGE AND SURVIVORS INSURANCE: SUMMARY OF SELECTED DATA*

NOTE: See p. 246

Year  Employee New 2/    Workers        Taxable      Bnp loy-   Amount of Benefits     Month' ly Benefits
and   Accounts En-       with         Wages 4/       ers Re-     Certified (000)       in     Force at   
Quar- fi stab-   trants  ■"age Cre-          Aver-   porting  Total   Month-   Lump-      End of Period8 
ter   lished (000)       dits Dur- Total age         Taxable  /       ly Bene- sum               Monthly  
      (000) 1/           ing Period (Mil.) per       Wages            fits 6/  - Pay-  Number Amount      
                         (000) 3/           Worker   (000) 5,                  ments 7 7 (000)    (000)   
1937  37,1392/ 32,904    32,904 $29,615     $ 900    2,421 i  J 1,278          $ 1,278                   
1938  6,304    4,016     31,822 26,502      833      2,239     10,478  --- M   10,478   ■• MB MB BM      
1939  5,555    4,507     33,751 29,745      881      2,366     13,896  --- MB  13,896   •• BM BM ---     
1940  5,227    4,389     35,393 32,974      932      2,500     40,595 $28,859  11,736     245     $ 4,535
1941  6,678    6,475     40,976 41,763      1,019    2,646     93,923  80,595  13,328     484       8,786
1942  7,638    8,030     46,395 52,939      1,141    2,655    137,045 122,007  15,038     692 12^574     
1943  7,426 10/7,554     47,645 62,423      1,310    2,394    172,849 155,019  17,830     885 16,143     
1944  4,537    5,169     46,296 64,426      1,392    2,469    218,097 195,951  22,146   1,117 20,445     
1945  3,321    3,600     45,751 62,746      1,371    2,614    287,757 261,622  26,135   1,470 27,394     
 I Q  771                35,715 17,874      500      2,076     65,090 58,085   7,005    1,194 21,889     
II Q  973                35,853 17,377      485      2,148     70,068 62,788   7,279    1,285 23,607     
III Q 899                35,209 14,957      425      2,215     72,407 66,656   5,751    1,365 25,215     
IV Q  679                33,587 12,538      373      2,123     80,191  74,093  6,099    1,470 27,394     
M6                                                                                                                                         
                                                                                                                                           
                                                                                                                                           
III Q                                                                                                                     .               .
IV Q                                                 ,____________ _________ ___________                                                   
                                                                                          
I Q                                                                       ______ _________
n q                                                                                       
in                                                                                        
IV Q______ ______ _______ _______ _______ ________                                        
                                                                                          

* See Footnotes and Sources on page 246 •

249

UNEMPLOYMENT COMPENSATION: SUMMARY OF SEIECTED DATA*

NOTE: See p. 246          (Number in Thousands - - - Amount as Indicated)                           
                              Benefit Payments                 Covered Employment 3/  Employment   
Year    Initial  Number                   Av. Weekly Number                           Service: Num-
and     Claims   of Bene- Total 2/        for Total of Weeks Number of   Wages 5/     ber of Non-  
Month   (Number) ficia-   (Thousands)     Unemploy- Canpen- Workers 1*/  (Millions)   Agricultural 
                 ries 1/                  ment      sated                             Placements 6/
1936 7/                   $    131                                                    1*,853       
1937 7/    f              2,132                     ?                                 3,11*1*      
1938 7/ 9,765    732      393,786         a 10.91*  38,076     /197929   $26,200 10/  2,657        
1939 7/ 9,765    799      1*29,298 11/    10.66     1*1,551* g / 21,378  29,069 10/   1*,152       
1910    11,110   982      518,700         10.56     51,081*    23,096    32,1*50      3,661        
191a    8,527    621      31*1*,321       11.06     32,295     26,811*   1*2,11*6     5,1*01*      
191*2   6,321*   51*1     31*1* ,081* 12/ 12.66     28,158     29,31*9   51*,796      6,920        
191#    1,881*   115      79,61*3 W       13.81*    6,001*     30,821    66,105       9,393        
191*1*  1,503    79       62,385          15.90     1*,121*    30,026    69,121       11,1*1*6     
191*5   6,030    1*62     1*1*5,866       18.93     21*,038    27,999      17,090^    9,808        
Jan,    151*     105      7,299           16.71     1*51*      29,175      17,130Ì    1,087        
Feb,    109      100      6,1*35          16.65     1*00       29,076      15,717^    910          
Mar,    117      103      7,21*2          16.69     1*1*7      29,122                 973          
Apr,    153      , 87     6,185           16.85     378        28,951*                926          
May     220      98       7,01*1*         17.09     1*25       28,716                 952          
June    269      129      9,686           17.71*    561        28,632                 1,01*2       
July    268      185      H*,352          18.28     801*       28,397                 1,011*       
Aug,    1,230    231      17,91*8         18.39     999        27,91*1*               825          
Sept,   1,086    612      50,1*39         19.28     2,652      26,1*51*               611*         
Oct,    918      1,272    106,1*1*9       19.51     5,511      26,21*8                601          
Nov,    779      1,313    108,555         19.28     5,692      26,1*97                1*81*        
Dec,    71*5     1,319    106,621*        18.86     5,716      26,768                 380          
191*6                                                                                              
Jan,    1,231*   1,615    133,21*6        19.15     7,000                             1*12         
Feb,    91*6     1,566    116,896         18.80     6,265                             359          
Mar,                                                                                               
Apr,                                                                                               
May                                                                                                
June                                                                                                
July                                                                                               
Aug.                                                                                               
Sept,                                                                                              
Oct,                                                                                               
Nov,                                                                                                
Dec,                                                                                                
191*7                                                                                               
Jan,                                                                                                
Feb,                                                                                               
Mar,                                                                                               
Apr,                                                                                               
May                                                                                                
June                                                                                               
July                                                                                               
Aug,                                                                                               
Sept,                                                                                              
Oct,                                                                                               
Nov,                                                                                                
Dec,                                                                                                
                                                                                                    

* See Footnotes and Sources on page 21*6.

250

PUBLIC ASSISTANCE PAYMENTS, BI PROGRAM 1/

NOTES See p. 247                                                                            
                Total Payments (Thousands of. Dollars)    Average Monthly Payments 2/       
Tear            Old-Age  Aid to      Aid to    General    Old-Age Aid to    Aid to  General
and   Total     Assist-  Dependent   the       Assist-    Assist- Dependent . the   Assist-
Month           ance     Children    Blind     ance       ance    Children 2/Blind  ance 4/
1936   $656,712 $155,241 $49,654     $12,813   $439,004    $18.79    $29.82 $26.11  $24.13 
1937  803,945   310,442  70,451      16,171    406,881    19« 46  31.46     27.20   25.36  
1938  984,987   392,384  97,442      18,958    476,203    19.56   31.96     25.22   25.06  
1939  1,048,834 430,480  114,949     20,752    482,653    19.30   31.77     25.44   24.89  
1940  1,034,984 474,952  133,243     21,826    404,963    20.26   32.38     25.38   24.28  
1941  990,222   541,519  153,153     22,901    272,649    21.27   33.62     25.82   24.40  
1942  958,818   595,152  158,435     24,660    180,571    23.37   36.25     26.54   25.23  
1943  930,234   653,171  140,942     25,U3     110,978    26.66   41.57     27.95   27.76  
1944  942,457   693,338  135,015     25,342    88,762     28.43   45.58     29.31   28.77  
1945  989,597   726,422  149,667      26,593   86,915     30.82   52.05     33.52   32.83  
1945                                                                                       
Jan«  79,977    58,737   11,635      2,119     7,486      28.52   45.68     29.40   28.88  
Feb.  79,805    58,693   11,742      2,121     7,249      28.59   46.00     29.52   28.09  
Mar.  80,357    58,856   11,903      2,119     7,479      28.73   46.48     29.59   29.00  
Apr«  80,192    59,062   11,988      2,117     7,025      28.89   46.82     29.64   27.95  
May   80,890    59,826   12,038      2,124     6,903      29.32   47.03     29.81   29.12  
June  81,124    60,047   12,134      2,147     6,796      29.46   47.46     30.18   29.07  
July  81,399    60,536   12,091      2,154     6,618      29.75   47.54     30.36   28.67  
Aug«  82,322    60,943   12,261      2,279     6,839      29.97   48.06     32.16   29.88  
Sept« 83,244    61,394   12,654      2,306     6,890      30.18   48.94     32.64   29.71  
Oct.  85,197    62,138   13,171      2,347     7,541      30.46   50.08     33.19   31.52  
Nov.  86,661    62,829   13,772      2,365     7,695      30.69   51.35     33.36   31.76  
Dee.  88,429    63,361   14,278      2,395     8,394      30.82   52.05     33.52   32.83  
1946                                                                                       
Jan«  90,347    63,962 . 14,726      2,403     9,255      31.06   52.62     33.54   33.72  
Feb«  92,070    64,418   15,273      2,427     9,952      31.20   53.36     33.69   33.95  
Mar.  93,612    64,876   15,771      2,444     10,521     31.32   53.88     33.77   34.79  
Apr«                                                                                       
May                                                                                        
June                                                                                       
July                                                                                       
Aug«                                                                                       
Sept«                                                                                      
Oct.                                                                                       
Nov«                                                                                       
Dee.                                                                                       
1947             
Jan.             
Feb. _______     
Mar.             
Apr. _______     
May              
June             
J^ ___           
Aug. _______ ____
Sept* _______    
Oct. ________    
Nov.             
Dec«             

     j^ Data corer only continental United States through 1942; thereafter include Alaska and Hawaii.
     2/ Data shown for each year are for mouth of December. J/ Per family. ¡J Per case.


Sources Federal Security Agency, Social Security Board

251

                 PUBLIC ASSISTANCE RECIPIENTS, BY PROGRAM 1/                          
NOTEt See p. 247 (Number in Thousands)                                                
Tear 2/ and      Old-Age      Aid to Dependent Children     Aid to the General Assist-
Month            Assistance Families         Children       Blind      ance (Cases)   
1936             1,106 162 404 45 1,510                                               
1937             1,577 228 565 56 1,626                                               
1938             1,776 280 648 67 1,631                                               
1939             1,909 315 760 70 1,558                                               
1940             2,066 370 891 73 1,239                                               
’ 1941           2,234 390 941 77 798                                                 
1942             2,227 348 849 79 460                                                 
1943             2,U9 272 676 76 292                                                  
1944             2,066 254 639 72 258                                                 
1945                                                                                  
Jan.             2,059        255             642             72            259       
Feb.             2,053         255              644             72             258    
Mar.             2,049        256             646             72            258       
Apr.             2,044         256             647            71            251       
May              2,041        256             647            71            237        
June             2,038         256              647      .      71             234    
July             2,035         254             644             71            231      
Aug.             2,033         255              647            71            229      
Sept.            2,035         259             658             71            232      
Oct.             2,040        263              669             71            239      
Nov.             2,047        268             684             71            242       
Dec.             2,056         274              702             71             256    
1946             2,059       “280“           ’717"          "72“          “274“       
Jan.             2,065         286              734             72             293    
Feb.             2,071        293              752             72            302      
Mar.                                                                                  
Apr.                                                                                  
May                                                                                   
June                                                                                  
July                                                                                  
Aug.                                                                                  
Sept.                                                                                 
Oct.                                                                                  
Nov.                                                                                  
Dec.                                                                                  
1947                                                                                  
Jan.                                                                                  
Feb.                                                                                  
Mar.                                                                                  
Apr.                                                                                  
May                                                                                   
June                                                                                  
July                                                                                  
Aug.                                                                                  
Sept.                                                                                 
Oct.                                                                                  
Nov.                                                                                  
Dec.                                                                                  

1/ Data cover only continental United States through 1942; thereafter include Alaska and Hawaii.
2/ Data shown for each year are for month of December.

Source: Federal Security Agency, Social Security Board

252

FINANCIAL OPERATIONS OF SELECTED SOCIAL INSURANCE TRUST FUNDS*

                                         (Millions of Dollars)                                          
        Account         1936 1937 1938      1939 191*0   191*1   191*2 191*3  191*1* 191*5 191*6  191*7
Federal Old-Age and                                                                                    
Survivors Insurance                                                                                    
Trust Fund 1/                                                                                          
Receipts                       $516 $358    $593    Ä650 $8h5 $1.085 $1.328 $1.1*22 $1.1*20            
Appropriations 2/              511* 31*3 566         607 789     1,012 1,239  1,316  1,285 ______      
Interest                       2    15   27      1*3          56    72     88 107    131*________     •
Expenditures                   1    10   11*     62      UI*       159    195 238    301*________      
Benefits                       1    10   11*     35      88        131 166    209    271*________      
Administrative expen-                                                                                  
ses (Social Security-                                                                                  
Act Amendments of                                                                                      
1939, sec. 201 (f) )                             26      26         28     29     29 30                
Total assets, end of                                                                                   
year                           766  1,13 2 1,721* 2,031 2,762    3,688 l*,820 6,005  7,121______       
Investments             --- MB 513  862 1,1*35 2,017     2,736   3,655 1*,778 5,967  7,055 _           
Cash Balances           --- »  253  269  289     11*     26         32    1*2     38 66___             
Railroad Retirement                                                                                    
Account                                                                                                
Receipts                       92   11*3 99          122 11*1*   21B   269    317    307               
Transfers from                                                                                         
appropriations                 92   12*2 97          120 11*1      215 263    307    292               
Interest                a. MB          1       2       2       3     3      6     10 15                
Expenditures: Benefits  ♦1     35   96       110     117 121*    128   133    137    11*3 "            
Total assets, end of                                                                                   
year                    1*6    111  135  11*8    11*6    166       256    391    573 737               
Investments, 3 percent                                                                                 
special Treasury notes         50   76   77      85           90 171*     310 1*90   61*1*             
Cash balances           1*6    61   59   70      60           75    82     82     83 93                
Civil Service Retire-                                                                                  
ment and Disability                                                                                    
Fund                                                                                                   
Receipts                92     123  130  11*6        161 190     292.  1*68   527    607               
Employee deductions                                                                                    
and voluntary contri-                                                                                  
butions                 31*    36   38   1*1     1*7          63   156 251*   279    292               
Government contribu-                                                                                   
tions 3/                1*6    73   75   87      92      102       106 176    196    21*6              
Interest and profits    12     13   17   IB      22           25    30     38     53 69 ______         
Expenditures: Annuities                                                                                
and refunds             58     61   63   65      70          71*    79     89    122 172               
Total assets, end of                                                                                   
year                    331*   396  1*63 51*1*      631* 750       963 1,31*2 1,71*8 2,183             
Investments             331    393  1*60 51*0        627 71*1    931*  1,321* 1,717  2,11*1*           
Cash balances                3 3       3      1*       8       9    28     19     31 39                

* See Footnotes and Sources on next page«

253

FINANCIAL OPERATIONS OF SEIECTED SOCIAL INSURANCE TRUST FUNDS (Cont‘d.)
NOTEs See p* 247                       (Millions of Dollars)

        Account 1936 1937 1938 1939 1940 Ml M2 M3 MU M5 M6 M7

Unemployment Trust Fund

Receipts ^             $65 $575   $839 $886 $980 $L, 143  $1,305 J $1,527 $1,500 $1,417         
State accounts: Depos-                                                                          
its                    65 567    829   830  861 1,008        1,139 1,328 1,317 1,161            
Railroad unemployment                                                                           
insurance account:                                                                              
Deposits by Rail-                                                                               
road Retirement                                                                                 
Board                                    14 60    66            86 98    119    117             
Advance from Treasury                                                                           
(act of June 25, 1938)                   15                                                     
Transfers from States                                                                           
(act of June 25,                                                                                
1938 ^)                                   1 98     8               - -    4/    4/              
Transfers from rail-                                                                            
road unemployment                                                                               
insurance adminis-                                                                              
tration fund (act                                                                               
of Oct. 10, 1940)                           - -    11            6 12      9     10             
Interest               1     8 ' 9     27   60    58            74 8 9     55 7/ 129 __________”
Expenditures 5/        4/    2   404    434       547 357      351 79     64    464             
   State accounts:                                                                              
     Withdrawals       4/    2   404    429       517 342      344 78     63    462             
Transfers to rail-                                                                              
road unemployment                                                                               
insurance account                                                                               
(act of June 25,1938)                     1 98     8               - -    4/    4/              
Railroad unemployment                                                                           
insurance account:                                                                              
Benefits                                  5 15    15             7 112                          
Repayment of advance                                                                            
(act of June 25,1938)                       15 - -                                              
Total assets, end of                                                                            
year                   65 638 1,072    1,525 1,958 2,744     3,698 5,147 6,583 7,537            
Investments            64 625 1,064 1,509 1,945 2,732        3,687 5,095 6,579 7,508            
Cash balances          1 13      8     16   12    12            11 51     4     29 ___          

1/ Before 1940, data represent operation of old-age reserve account,
2/ Beginning July 1940, appropriations equal taxes collected under Federal Insurance Contributions Act. Before July 1940, data represent transfers from appropriations.
3/ Appropriated by Congress and transferred to the trust fund.
V less than $500,000.
    Excludes intrafund transfers between the State accounts and the railroad unemployment insurance account.
6/ Includes amounts certified by Social Security Board to the Secretary of the Treasury in behalf of Connecticut and Kentucky for payment into railroad unemployment insurance account in

     accordance with Railroad Unemployment Insurance Act, sec. 13.
7/ An additional $55 million was earned in 1944 but not credited to the fund until Jan. 2, 1945$ an additional $63 million was earned in 1945 but not credited to the fund until Jan. 4, 1946.



SOURCE: Compiled from Daily Statement of the United States Treasury, by the Social Security Board.