Business: The $100 Week

Hailing what it called a "milestone," the U.S. Labor Department reported that average weekly wages of factory workers in durable-goods industries (steel, autos, furniture, etc.) rose from $97.44 in 1960 to $100.10 during 1961 as a whole. By December the average weekly pay had increased to $104.

The Institute of Life Insurance cited another statistic to show the changing pattern of U.S. wealth. The richest 5% of the population got 30% of the total U.S. personal income in 1929. In 1959, the institute reported, the top 5% made less than 20% of the total. Result: the other 95% of the nation had...

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