Business: On Balance

To the statisticians in Washington's Labor Department, the U.S. economy never looked healthier or in finer balance.

Employment last week was at a record peak for spring (61.5 million) and so were wages (average factory earnings of $1.74 an hour, up 10¢ over a year ago). In 1953's first quarter, the building industry showed a 6% gain in new construction over 1952's first quarter — a strong indication for continued prosperity.

In an orderly fashion, deflation continued to melt away some of the economy's excess fat. The cost of living had dropped enough by last week to bring pay cuts, ranging from 1¢...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!