Word: boom
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Dates: during 1960-1969
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...this year Frisina will put up Hamilton's first skyscraper, a 22-story, $4,000,000 office building. Toronto-born Harvey Keith, 55, quit his job as a supermarket supervisor in 1950, borrowed $5,000 to go into real estate, guessed right on the horseshoe's land boom, last year grossed $33 million. Japanese-Canadian Arthur Tateishi, 40, who began building phonographs in his basement after work hours, went into business in 1945, expanded to meet the new demand for hifi, last year grossed...
...Boom & Build. The tourist trade grew faster than factories. At least 6,000,000 people now tour Arizona each year, inspire gaudier and gaudier strips of motels and roadside restaurants on roads leading out of Tucson and Phoenix. The unchallenged center of tourist trade has risen just across the irrigation ditch from the Paradise Valley area, where the early-bird millionaires first set the style for desert life and leisure. Its name: Scottsdale, which as recently as 1949 was a sleepy farm town of 1,700. It has now become the shopping center for a population of about...
Recession Talk. But the rosy talk of boom on top of boom also brought out some doubters. Vice President William F. Butler of the Chase Manhattan Bank told the committee that "one would look for another recession starting some time in 1961." From Professor Paul A. Samuelson of Massachusetts Institute of Technology came the warning of "a slowing down of the rate of expansion in the last half of 1960, with a downturn to follow some time in 1961." The idea of a 1961 recession, based on postwar economic cycles, is not new, but it is also based on economic...
...such probability was that the steel strike would be followed by a big rush of businessmen to rebuild inventories that would further squeeze credit, boost interest rates and perhaps nip the boom. But the Commerce Department announced last week that the inventory total in the fourth quarter remained about level. Though there was a December spurt in inventories, it was not as big as expected. The Commerce Department now expects that inventories will accumulate by the end of the second quarter at an $8 billion rather than a $10 billion rate, thus spreading out buying and making growth more steady...
...huge increase in the U.S. labor force is the result of the war and postwar baby boom; nearly half of the new work force will come from those under 25. By the late '60s, 3,000,000 young workers will enter the work force every year v. 2,000,000 now. Despite earlier retirement there will still be more workers over 45 and more women workers. By 1970 there will be a 25% increase in the number of women workers to about 30 million, or one in every three workers. As the work force multiplies, employment hikes...