The Demand and Price Situation

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Excerpt from The Demand and Price Situation: September, 1946Wage rates have been advancing since early l9u6 and are currently at a higher level than the war peak reached at the beginning of l9h5, despite the r duction in premium rates for overtime and in employment in the high paying war industries. However, as a result of the reduction in hours worked, average weekly earnings per factory worker in July were 9 percent below the peak reach in January 19u5. With a generally tiaht labor market in prospect it is likel that wage rates will continue to advance into next year. With increased emplo ment and higher wage rates, nonagricultural labor income in 1947 may average 10 percent higher than this year, and almost triple the labo, r income of l935a3 Nonagricultural entreer.eneuria1 income is also expected to increase subs.tantia next year. Despite the anticipated decline in income from agriculture and\ smaller Government expenditures, it is likely that total income payments t divifiuals in 19h? May be about 6 percent above 19u6, totaling ab.out 175 bi dollars compared with an estimated 165 billion in l9u6 and the 67 billion: in 1935~ 39. Income payments in July at a seasonally adjusted annual rate billion dollars were the highest on record aoout 7'billion dollars larger ~in June and 5 billion dollars greater than in July a year ago. The large crease in July was principally due to the sharp increase in income from a ture although nonagricultural' income payments also advanced substan.tially While th-e level of income payments to individuals is expected to averag next' year, the total income flow to individuals may be lower in the latter p of the year than in the first half.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.