Word: nonfarming
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...output per man-hour in U.S. manufacturing has risen at an average annual rate of 2%-3% a year. Wage gains over the same 60 years have been well above 2.5% a year, except in the deepest troughs when more than 9% of the nation's nonfarm workers were unemployed. Thus, Bowen concludes that the U.S. wage gains historically have contributed to inflation. And in the postwar period, "wages in general continue to go up faster," warns Bowen, "than output per man-hour" even when unemployment is high. The result is continued inflation, and "no amount of 'faith...
MORTGAGE FORECLOSURES on nonfarm houses have climbed 78% in seven years since 1952. Reason: the price rise of real estate has been slowing, making it harder for a debt-ridden householder to sell out and cover his mortgage arrears. CIGARETTE IMPORT ban lifted by the Japanese as part of their trade liberalization program with the U.S. will bring nearly $3,000,000 in sales to U.S. cigarette makers this year. First order of U.S. cigarettes, $950,000 worth of various brands, sold out in three days despite high prices -36? per pack for regulars, 41? for kings and filters...
...defined it, parity of income sounded like a mathematician's nightmare and a bureaucrat's dream. "Parity of income," he said, "is that income which gives average producers a return on their invested capital, labor and management equal to that which similar or comparable resources earn in nonfarm employment." It would be achieved through "supply management," another new phrase, meaning a mixture of "land retirement" and marketing quotas. The quota system would involve much more Government control than any of Nixon's proposals: every wheat farmer, for example, would get a federal certificate entitling him to market...
...been building more new homes than Government figures showed, the Census Bureau concluded last week. New figures, based on a much broader, more accurate sampling, showed that the U.S. last year put up 1,530,000 nonfarm housing units v. the 1,380,000 previously reported. The new statistics also make a less cheering point. They showed that building so far in 1960 is down 22% from last year instead of 19%. The drop in housing starts this April, as compared to April 1959, was 24% instead of 22%, confirming the complaints of many U.S. builders that they have been...
...start," Rockefeller urged retirement of some 30 million acres in addition to the 20-odd million acres already in the soil bank's conservation reserve. To supplement the land-use program, Rockefeller proposed a rural "job-opportunity program" to help low-income farmers make the switch to nonfarm jobs...