The U.S. boom roared on. The Departments of Commerce and Labor reported last week that during the months of July and August:

¶Employment climbed above the 65-million mark for the first time in history, up 494,000 since July, 3,211,000 since last year; unemployment meanwhile declined to 2,237,000, down 31% since August 1954, to the lowest level of joblessness since the fall of 1953. ¶Personal incomes climbed during July to an annual rate of $304.7 billion, up $17.6 billion since last July; Government and manufacturing incomes were higher, with average weekly factory earnings up to the alltime high of $77.11 a...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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