STATE OF BUSINESS: Full & Growing

"Constant employment and well-paid labor produce, in a country like ours, general prosperity, content and cheerfulness."

—Daniel Webster, in the U.S. Senate

By Daniel Webster's standard, there was good reason last week for content and cheerfulness in the U.S. In a joint report, the Commerce and Labor Departments announced that U.S. employment in July reached an alltime record level of 64,995,000. This represented an upsurge of 5,000,000 jobs since February, far above the normal seasonal rise of 3,000,000, and put the number of U.S. workers on the job at a full 2,847,000 above a year ago. With average earnings of factory workers...

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