| Show Inside t Stuff By PAUL MALLON GT N Jan The 31 year year end end business figures ded out officially during the last v days daS ar are a D. little too good Por F r. r Instance the federal reserve a 4 has hM Just announced that December December December De De- De- De cember industrial k production was oMs per percent cent of ot nor nor- ures re ts m mal 1 That hat is probably probably ably it Y b bo be entirely misleading t I n. n at It means means' is ls that the year- year k Industrial output was 3 per t I greater greater than the average Debera De- De bera ers er of ot 1923 1921 1924 and 1925 And jeason OI is that certain major tries have changed their sea- sea then wit to-wit automobiles h in turn draw on steel glass I It does not mean this country has I a planned Panned level of norI noron nor- nor tic rk on it Is just justa a seasonal A 4 D S more noro be ro aC accurate line ine on things ft r from ni the he yearly rages covering all seasons eason If 11 trace these ae on the chart u. find that industrial output 1935 Was 90 0 per pcr cent of ot the averIs aver aver- Is fa for 1923 1924 and 1925 t marks Ur four years of ot the Progress s depths depth 1118 of 1932 when In in- tty try was down to 6 64 per cent I There is' is every expert to expert reason n to n year may continue the upward although lh the industrial on Pa pe 1 Six Inside Stuff Continued from Irom Page One tion figure will probably ease off for fora a few months The reason DeclinIng Declining Declining ing auto production with its effect on steel glass glas etc The seasonal splurge of December December December Decem Decem- ber will work in reverse during the coming months I The first thing about the chart charl figures below to hit the wary eye eyes is s the disparity between production production tion employment and payrolls The average of payrolls for 1935 was 70 while production was 00 90 Also the 82 52 index of employment may seem to be high in view of popular estimates estimates estimates esti esti- mates that no appreciable dent has been made in unemployment Each economist has his own argument argument argument ment about this It is true that the heaviest production now is in lines Jines which employ the least labor Jabor that thai the big labor lines Jines like building am and coal are lagging far behind soft sofi coal output in December was only 77 per cent normal anthracite 71 per cent Also there Is an uncharted uncharted un- un charted growth of ot in inthe inthe inthe the last five years and the over- over ballyhooed technological logical unemployment ment phase One indisputable thing is clear These b bus business U 3 I n e s 8 s Accurate figures are official al Statistics government f I figAre fig fig- i g gAre g- g Are Arc Needed ures and p r e e- e to be honest hon hon- est But there are no figures on unemployment government or vate The ones which are being published from time to time by the A. A F. F of L. L and others are admitted to be pure guesses With all the boondoggling going on on the idea may soon occur to some som bright young g government officIal that it might be well to check and classify unemployment by Industries and b by areas to determine at least leas the exact scope o of the problem 1 It not its solution The Tue official excuse here has al always always al al- ways been that It could not be done don accurately I Nearly half halt the industries represented represented represented in employment figures bureau bureau bureau bu bu- bu- bu reau of labor statistics show December Dc- Dc cember increases 40 of ot the 9 90 showed employment gains and 6 61 of the 90 showed total payroll gains Last month was the first December since the depression showing an in increase increase increase in- in crease In employment Largest in increase increase increase in- in crease was In retail trade amounting amounting amounting amount amount- ing to 32 per cent over November about Cabout additional Most of or these Christmas jobs have now been lost again The Tho big bulge in building contracts contracts con con- tracts awarded during December was d due e to a gen gen- Building eral December 1 15 Industry deadline on many Progressing a P p pro r o That figure ligure also asb i ia is isa isa a seasonal abnormality Yet th the building industry Is making I ress ross Privately financed contracts awarded last year ear aggregated as compared with in 1934 Of course this docs does no not represent any real building In comparison comparison com corn parison with old days but there ther will bo at least that much more improvement improvement im im- irn- irn provement this year Tho The number of building contracts contract awarded during the first half o of January was within 10 per cent o othe of the tho total for tor the whole month last las year ear The Tho secret hope of the new dealers apparently is that the long long- awaited building boom will vIll cover up the unemployment situation and cure it it although nothing extra i is being done to promote that result Copyright 1936 for The Telegram |
