Word: downturn
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
...enough. The Administration hopes to invigorate the economy by making conditions more favorable for private investment. As expansion becomes possible, they argue, new jobs will bring the economy, back toward the goal of full employment. The hitch lies in the present economic situation. Many Republicans, characterizing the current business downturn as a "rolling readjustment," feel that the fear of dwindling market is unreal and that businessmen will not be frightened out of making investments. But most analyses indicate a more serious economic situation. Inventory, employment, and output indexes have shown increasingly ominous signs; would-be investors tend to hold back...
...Economist Edwin G. Nourse, who was head of President Truman's Council of Economic Advisers during the 1949 recession, told Congress what the current figures mean to him. "We do not have adequate ground for counting on a seconder third-quarter recovery," said he. "Remedies against further downturn, though impressive, are as yet unproven and difficult of application."* Nourse advocated a quick switch in the Administration's tax programs to give more relief to individuals, particularly in "the lower-income brackets, where spending pressure for the necessaries of life is greatest...
Behind the new unemployment appeared to be an economic slump much like the one that the economy weathered easily in 1949-50. Up to this point, however, the current downturn is not so serious as that of four years ago. In mid-January of this year, 47.7 million were still working in nonfarm jobs, the highest record ever for that month, except January 1953-The total number of unemployed is still far below the 4,700,000 reached in February 1950. In short, the situation is far from critical...
...Present Position. Despite the downturn in the last half of the year, 1953 was the most prosperous year in U.S. history. It left the economy in good health. Unemployment increased to 2,300,000 workers by last month, 500,000 more than a year ago, but this is still only about half the unemployment in January 1950, and about a third of the total in prewar January...
Looking ahead, 100 top industrialists from 30 states, polled at a meeting of the National Association of Manufacturers, were all but unanimous in predicting that there will be no serious downturn. Sixty expect business next year to be good, 39 think it will be fair, and only one is looking for a slump...