ECONOMIC STATISTICS--MARCH, 1971:









 

   


 

  • On March 22, 1971  the U.S. Department of Labor in Washington, D.C. announced that it was discontinuing the practice of holding press conferences to brief reporters on its monthly consumer price and unemployment figures. One reason given is that conflicting interpretations of changes in these figures have embarrassed the Department.  (SOURCE:  Wall Street Journal, March 22, 1971, page 26).

 

 

  •  It is reported from Washington, D.C. on March 22 of this year that February's economic indicators "almost assure that the Nixon administration wont get the 'over US$30 billion' gain in the gross national product that it had been counting on for this quarter."  February's disappointing -1.7% drop in new factory orders for durable goods and even the welcome moderation in consumer price inflation to a2.4% annual rate both bode poorly for the quarter's overall GNP showing, government analysts say. Quarterly GNP figures do reflect some inflation. At best, the analysts believe, the gain will be only "close to" the US$30 billion predicted by the Nixon administration.  (SOURCE:  Wall Street Journal, March 22, 1971, page 26).  

 

 

  •     On March 22, 1971 the U.S. Department of Labor also reported that the "real" purchasing power of nonsupervisory employees in the United States of America had declined slightly in February of this year. Expressed in terms of 1967 dollars to strip away the effects of inflation, real spendable earnings for  worker with threedependents dropped to an average of US$90.09 a week, from the US$90.22 weekly level which the Department had reported for January. However, this figure for the current month is still moderately above the US$89.83 in purchasing power which the Department had reported for February of last year.  (SOURCE:  Wall Street Journal, March 22, 1971, page 26). 

 


 

  BACK TO:  ECONOMIC STATISTICS (INDEX)                                    EXIT:  WELCOME SCREEN