Word: strike
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
...nation's harried railroads, who hoped for a boost in booming 1959, the strike dealt a smashing blow. In 13 weeks the roads lost an estimated $459 million in gross revenues. Railroad employment on Sept. 30 fell to 797,195, the lowest since 1900. Third-quarter rail earnings, when they come out in the next several weeks, will not make pleasant reading...
Repairs & Shortages. In the face of tremendous demand for steel (total stocks are down to 7,000,000 tons, v. pre-strike inventories of 20 million), the industry will have onerous troubles getting back to full production. The lengthy strike caused considerable damage to open-hearth furnaces by cooling and contraction of bricks. One estimate is that some 300 of the 920 open hearths in the U.S. will need costly repairs...
...fall at near top speed. Latest statistics from Government and industry showed that production, employment and the earnings of the nation's corporations were all at high levels. Overhanging this bright picture of performance so far this year was a cloud cast by the effects of the steel strike, which will be felt for weeks to come (see below...
Behind the earnings lay a record of solid September production despite the steel strike. Last week the Federal Reserve Board announced that industrial production dropped one point on the index from August to September, was seven points from the pre-strike high of 155 set in June. Nonfarm employment was holding even at around 52 million, while total unemployment declined to 3,200,000, or 5.6% of the labor force; not counting the 500,000 steel strikers, unemployment had increased only about ½% since the 5% low set in July. Personal income in August dropped only about $2.6 billion from...
Economists were cheered by the signs of the U.S. businessman's confidence in the future. The latest survey by the Commerce Department and the Securities & Exchange Commission, taken after the strike, showed a significant boost in industry's plans for new plant and equipment expenditures. With more money going for industrial plants and public works, capital investment should rise to an annual rate of $35.3 billion in the final quarter of 1959. $1 billion more than the third-quarter rate and $5 billion more than a year...