Word: upturn
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Dates: during 1950-1959
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...press conference earlier in the week, the President was feeling chipper. In the face of gloomy news from Geneva and Dienbienphu, he was still hopefully optimistic, had nothing but complimentary words for John Foster Dulles. He was pleased to note an upturn in the nation's business, but cautioned the reporters against overoptimism...
...first time in six months, U.S. employment is on the rise. The Commerce and Labor Departments in a joint report (to eliminate previous conflicting reports) announced that the number of jobless dropped from 3,725,000 in early March to 3,465,000 in early April. The upturn so far was no more than seasonal, and manufacturing employment continued to decline. But it was more than offset by more outdoor jobs...
Danger Signals. Businessmen in a score of fields reported that the slide has stopped. U.S. Steel's Ben Fairless announced to his stockholders that "an upturn in demand is beginning to appear." In the copper industry, which has recently been trimming production. Kennecott Copper President Charles R. Cox also reported a turnabout; his company will increase the work week from five to six days at four western mines. And a special committee of the Government's Business Advisory Council reported that the business decline has leveled...
Umbrellas & Overshoes. Elsewhere in Washington last week. Federal Reserve Board Governor A. L. Mills Jr. and Assistant Commerce Secretary Lothair Teetor both saw increasing signs of an early business upturn. "The gloomy ones may well be caught out in the sunshine with their umbrellas and overshoes on," said Teetor. Though two private economists, Walter E. Hoadley of Armstrong Cork Co. and Dr. Courtney Brown of Columbia University, saw no such sign of a swift upturn, neither could they see any signs of an oncoming bust. The gentle slide, they thought, had just about hit bottom...
Even if the current upturn in auto output, housing, retail sales and other fields should prove to be no more than a seasonal spurt, the Administration would find public works no fast-working wonder drug. In the Big Depression, it took 18 months after the start of the Government's public-works program to get the first 100,000 men on the payroll. Even by 1939, when public-works outlays of $3 billion equaled about 3% of the gross national product, there were still 9,500,000 unemployed. Public works equaling 3% of today's national product would...