THE ECONOMY: The Patient Feels Fine

Despite labor pains, strikes and the travail of reconversion, the U.S. is already close to full employment in peacetime—months faster than anyone expected. This encouraging announcement was made by the Committee for Economic Development last week.

CED Chairman Paul Hoffman totted up CED's cheery figures: 1) 52,000,000 workers already employed in civilian jobs; 2) steadily rising earnings, only slightly below the wartime peak; 3) production of civilian goods up from 50% to 75% since July.

CED had not expected the U.S. to achieve full employment, which it places at 53,500,000 jobs, till next September. Right now, said CED, the nation still has...

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