Word: nonfarm
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Fact to Be Faced. Since the late 1940s, overall U.S. farm output per worker has more than doubled. As a result, total farm production has greatly increased, despite a steady migration of farmers and sons of farmers into nonfarm jobs. But U.S. demand for farm products has failed to keep pace with the supply, and the result has been an oversupply that has put persistent downward pressure on farm prices and farmers' incomes...
...standard economic indicators are far from alarming. Industrial production edged up in May. reaching a record high. Nonfarm employment increased by more than the normal seasonal advance, achieved a new peak for the month of May. The average factory work week lengthened to 40.5 hours, a figure not exceeded since booming 1955. All in all said Commerce Secretary Luther Hodges after reading off a batch of statistics, "business still looks awfully good.'' Nevertheless, the New Frontier was worried...
...Nonfarm employment rose sharply by 675,000 to an April record of 54.7 million...
...missiles, by chemicals, and by carloads of tourists. After Florida, the heaviest percentage growth is in the nation's southwest quadrant. Texas with its petrochemicals, military bases and white-collar industries, California with its missiles and electronics plants, and Florida now account for one out of every six nonfarm jobs. Five Rocky Mountain states (Arizona, New Mexico, Colorado, Utah, Nevada) all advanced at more than twice the national average, "not only because of defense installations such as Los Alamos," explains Wolfbein, "but right across the industrial board." Even with this record, the five have a long...
After a rise earlier this year, private, nonfarm housing starts in May are down to an annual rate of 1,276,000, v. 1,322,000 at the comparable stage of the 1958 recovery. The whole housing market, says the National Association of Home Builders, shows "a pervasive lack of vigor...