Word: labor
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Dates: during 1960-1969
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Industry, too, has begun to benefit from speeded speech as a time- and labor-saving device. For example, when you call the phone company to register a complaint, chances are that you're talking to a machine, who will record your gripe and play it back to the operator in speeded speech form. One frozen food company has put a computer to work taking orders. Once the order has been restructured in compressed speech form, all the preliminary formalities have been worked out, leaving the operator time to fill two or three times as many orders as usual...
While U.S. employers have reason to complain about soaring labor costs, the fact is that wages have been rising much faster in other major nations, notably those of Western Europe. Between the 1958 start of the Common Market and 1965, U.S. workers' pretax wages went up 14%. During that seven-year period, pretax wages jumped 25% in Italy, 29% in France, 40% in Denmark, 41% in The Netherlands, and 53% in West Germany...
General Motors announced profits of $99 million for the third quarter, down 62% from the equivalent period of 1965. Third-quarter earnings dropped 36% at Ford, and 64% at Chrysler. The declines were due not so much to falling sales but rising costs of labor and materials; though G.M.'s sales sagged 13% during the quarter, Ford's were up 2%, and Chrysler's 9%. More important, the new 1967 cars seem to be off to a strong start. With personal incomes climbing and 2,000,000 people coming of driving age next year, economists at Ford...
...reason for this upswing in female employment is the shortage of skilled and semiskilled labor, which has become so acute that Federal Manpower Expert Howard Stambler says: "There are almost no men left." Unemployment is down to 3.8%-mostly unskilled-and job openings for trained people are increasing. The number of adult women at work rose in the past year by 2.3 million to 25.5 million, most of whom are married. Today, one out of every three married women has a job outside the home, and almost one in three adult U.S. workers is a woman...
...been a jump in unemployment, which rose last month by 100,000, to 370,000. Reflecting some Britons' fears of depression-style mass layoffs, one cartoonist drew a portly Wilson in a wide-lapelled 1930 suit with a breadline in the background. At the same time, the Labor government's spending has expanded despite Wilson's promise of restraint. In September, public-housing starts topped private housing 18,000 to 14,900. By the second half of 1967, predicts the London and Cambridge Economic Bulletin, public capital spending will exceed private capital investment, $3.70 billion...