Automation in Factories and Offices
Current Lag in Employment; Job Outlook
The Decline of unemployment, though substantial in recent months, has lagged far behind the rise in business activity that has been under way since the 1957–58 recession touched bottom in the spring of last year. Industrial production, business profits, personal income, and retail sales all have climbed to record highs. The nation's total output of goods and services reached an annual rate of $467 billion in the first quarter of 1959—well above the pre-recession record rate of $446 billion in the third quarter of 1957. For the first time in two years, the word “boom” has started to appear in the writings of economic analysts. Yet the number of people out of work is considerably ...