Up & down U.S. industry this week a new economic paradox was in the making. Government economists talked about the "priorities unemployment problem." But for a lot of people who would soon be out of jobs, out of victuals, out at the seat of the pants, it might just as well be called plain depression.

At this month's beginning, only 2% of non-defense manufacturers responding to a U.S. Chamber of Commerce survey reported that they had felt the pinch of priorities. But at last week's end new answers raised the average to 10-15%. Nine...

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