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Show THE NATIONAL ENTERPRISE, SEPTEMBER 7, 1977 Briefs 25 Loans the nation experienca ed record inflow of savings in July. The excess of Savings & ss deposits over withdrawals Capital Appropriations of came to $3.92 billion, nearly the nations largest 1000 twice Junes figure of $2.05 billion. At the same time, firms totaled a seasonally adjusted $5.2 billion for the mortgage activity bvS&Is declined in July, as did second quarter of 1977. commitments for future This was 24 percent above year ago levels and four home loans. percent above the first non-farAverage quarter of the current year. The total is the second wages in the private sector highest in the 24 year rose 1.9 percent in the second calendar quarter, history of the Conference Board survey. according to the Labor m Department. The increase was greater than the first quarter of the current year when average wages rose only 1.5 percent. In an action designed to dampen the demand for loans by commercial banks, the Federal Reserve raised its discount rate to 5 34 percent from 5 14 percent last week. The increase came primarily as a result of a large and unusual increase in bank borrowings at the discount window the week prior. Utahs jobless rate takes significant drop Utahs unemployment rate dropped to its lowest level in over seven years, according to figures released by Utah Job Service. For the month, unemployment fell to 5.3 percent from July's 5.5 percent, a significant improvement over when the August 1976 rate stood at six percent. . Nationally, unemploy ment increased to 7.1 percent in August, up from Julys 6.9 percent. Job Service views this gap as significant, saying it underscores Utahs recent success at job formation. The agency said Utahs nonfarm payroll has grown on an adjusted basis of 4.8 percent versus the nations nonfarm payroll growth of 3.8 percent. |