Time Clock, Jul. 18, 1955

RECORD EMPLOYMENT in June pushed the number of U.S. jobholders over the 64 million mark for the first time in history. Employment jumped 1,313,000 to a total 64,016,000, or 325,000 more than the previous peak (August 1953). Overtime pay is running at the highest level in history, while factory hirings top layoffs by the greatest margin since 1950.

FAST TAX WRITE-OFFS for new defense building will be sharply cut back if Treasury Secretary George Humphrey has his way. Humphrey says that the U.S. has handed out five-year write-offs for projects worth $30.4 billion since 1950, costing the Government $1 billion in...

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