As an element of Depression, wage cuts, past and future, continued last week to engage the perplexed attention of businessmen throughout the land. During March 335 pay reductions averaging 10% and affecting 43,500 workers were reported to the U. S. Labor Department as compared with 26 cuts in the same month last year. March also failed to show any general increase in employment over February though manufacturing industries did hire about 1% more workers. In Manhattan industrialists gathered secretly to discuss the "advisability" of "wage adjustments," departed with the feeling that...
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