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TABLE C-25.—Civilian employment and unemployment by sex and age, 1947-73[Thousands of persons 16 years of age and over]EmploymentUnemploymentYear ormonthTotalTotalMales16-19years20yearsandoverTotalFemales16-19years20yearsandoverTotalTotalMales16-19years20yearsandoverTotalFemales16-19years20yearsandover1947..1948..1949..1950..1951..1952..1953 i.1954..17,039 40,99458,344 41,17,649 40,2,218 38,776 16,0452* 345 39,382 16,6182,124 38,803 16,72358,920 41,5802,186 39,394 17,34059,962 41,7802,156 39,626 18,18260,254 41,6842,106 39, 578 18, 57061,181 42i,4312,135 40,296 18,75060,110 41,6201,985 39,634 18,4901,691 14,3541,683 14,9371,588 15,1371,517 15,824',611 16,570,612 16,958,584 17,164,490 17,0002,3112,2763,6373,2882,0551,8831,8343,5321,6921,5592,5722,2391,2211,1851,2022,3442702553523181912051843101,4221,3052,2191,9221,0299801,0192,0356197171,0651,0498346986321,1881441522231951451401231914755648418546895595109971955..1956..1957..1958..1959..62,171 42,62163,802 43; 43,38064,071 43,35763,036 "",423,64,630 43, ,4662,095 40,526 19,! 1,5502,164 41,2.. 1,422 ,2,117 41,239 20,: ),7142,012 40,411: . 20,6132,198 41,267 21,164,548 18,002,654 18,767,663 19,052,570 19,043,640 19,5242,8522,7502,8594,6023,7401,8541,7111,8413,0982,4202742692994163981,5801,4421,5412,6812,0229981,0391,0181,5041,3201762091972622568238328211,2421,06319601.1961..1962..19631.1964..65,778 43, 1,90465, 746 43, :,65666,702 44, ,17767,762 44, ,65769,305 45, i, 4742,360 41,543 21, ,8742,314 41,342 22,1 !,0902,362 41,815 22,! !,5252,406 42, . 251 23,105 J2,587 42,886 23,831,769 20,105,793 20,296,833 20,693,849 21,257,929 21,9033,8524,7143,9114,0703,7862,4862,9972,4232,4722,2054254794075004872,0602,5182,0161,9711,7181,3661,7171,488,598,5812863493133833861,0801,3681,1751,2161,1951965..1966..1967..1968..1969..71,088 46, i,34072,895 46, 1,9192,918 43,422 24,3,252 43,668 25,74,372 47, ,479 3,18644,: .75,920 48, 1,11477,902 48, ;, 8183,255 44,859 27,3,430 45,388 29,2,118 22.6302,469 23,5102,497 24,3972, 525 25,2812,686 26,3973,3662,8752,9752,8172,8321,9141,5511,5081,4191,4034794324484274411,4351,1201,060993963,452,324,468,397,4293954043914124121,0569211,0789851,0161970..1971..19721197318,627 48,960" 120 49,245702 50,630409 51,9633,407 45,553 29,3,470 45, ,3,750 46.880 31,4,017 47,946 32,2,734 26,9332,725 27,1492,972 28,10T3,219 29,2284,9934,8404,3042,2352,7762,6352,2405996917076471,6362,0861,9281,5941,8532,2172.2052,0645065675955791,3471,6501,6101,485Seasonally adjusted1972: Jani...Feb...Mar .Apr...May...June...July...Aug...Sept—Oct....Nov. .Dec...1973: Jan....Feb...Mari..Apr...May...June..July...Aug..Sept..Oct...Nov..Dec.80, 637 49, 92280, 672 49, 93581, 110 50,21481, 153 50,25781, 404 50,39181,623 50,622625 46,297 30,715562 46,373 30,737657 46, 557 30,896685 46,572 30,8962,927 27,7882,908 27,8292,948 27,9482,974 27,9223,020 27,9932,955 28,04681,781 50,70582,083 50,8643, 718 46, ,987 31,0763,809 47, ',055 31,2192,938 28,1382,926 28,29382,256 51,022 3, 836 47, ", 186 31,234 2, 954 28,280 28;82,338 51,068 3,866 47, ,202 31,270 2,997 28,27382,486 51,1083,839 47, ,269 31,378 3, 070 28,308 28;82, 841 51,340 3,866 47, ,474 31,501 3,095 28, "1,40682, 619 51,244 3, 846 47,398 31,375 3,053 28, 1,32283, 230 51, 458 3, 945 47,513 31,772 3, 085 28.1,68783,782 51, 761 4, 067 47,694 32,021 3,187 28,834 .83,854 51,641 3, 986 47,655 32,213 3,177 29, " "I, 03683,950 51,59784,518 51,8483, 929 47,668 32, 353 3,208 29, ,1453,989 47,859 32, 670 3,332 29,33884,621 52,03784,513 51,89285,133 52; 2903,950 48,087 32,5843,900 47,99r 32,621,4,152 48,138 32,8433,103 29, 1,4813,138 29, i,4833, 326 29, 1,51785,649 52, :;638 4,206 48,432 3,350 29, 1,66185,649 52,584 4,159 48,425 ..... 3,361 29, 70485,669 "I, 52 732 4,173 48, 559 32,937 3,341 29, 5965,0844,9675,0504,9524,9174,8384,8244,8584,7714,8704,4904,420i,381•,486, 380,418^ 313^,300,207.1912404; 1004,2544,3642,8072,8382,8112,7342,6992,6072,5bO2,6022,5642,6152,4312,3252,2612,3342,3112,3492,3152,2312,1642,1662,1722,1382,1932,1827478417857087006446207367126626956865986526326756586306396386596496926562,0601,9972,0262,0261,9991,9631,9301,8661,8521,9531,7361,6391,6631,6821,6791,6741,6571,6011,5251,5281,5131,4891,5011,5262,2772,1292,2392,2182,2182,2312,2742,2562,2072,2552,0592,0952,1202,1522,0692,0691,9982,0692,0432,0252,0681,9622,0612,1826486176126075265835986145915965665895586525736056075575435385865815826091,6291,5121,6271,6111,6921,6481,6761,6421,6161,6591,4931,5061,5621,5001,4961,4641,3911,5121,5001,4871,4821,3811,4791,5731 See footnote 2, Table C-24.Note.—See Note, Table C-24.Source: Department of Labor, Bureau of Labor Statistics.278
TABLE C-26.— Selected unemployment rates, 1948-73[Percent]B" sex and ageBy colorBy selected groupsYear or monthBothsexes16-19yearsMen20yearsandoverAllworkersWomen20yearsandoverWhiteNegroandotherracesExperiencedwageandsalaryworkersHouseholdheadsMarriedmen*Fulltimeworkers2Bluecollarworkers3Laborforcetimelost*194819493.85.99.213.43.25.43.65.33.55.65.98.94.36.83.55.44.28.019501951195219531954...195519561957195819595.33.33.02.95.54.44.14.36.85.512.28.28.57.612.611.011.111.615.914.64.72.52.42.54.93.83.43.66.24.75.14.03.22.95.54.44.24.16.15.24.93.12.82.75.03.93.63.86.14.89.05.35.44.59.98.78.37.912.610.76.03.73.33.26.24.84.44.67.25.74.61.51.41.74.02.82.62.85.13.65.02.62.55.23.83.74.07.27.23.93.63.47.25.85.16.210.27.64.85.15.38.16.6196019611962196319641965 .19661967196819695.56.75.55.75.24.53.83.83.63.514.716.814.717.216.214.812.812.812.712.24.75.74.64.53.93.22.52.32.22.15.16.35.45.45.24.53.84.23.83.74.96.04.95.04.64.13.43.43.23.110.212.410.910.89.68.17.37.46.76.45.76.85.65.55.04.33.53.63.43.33.73.22.72.22.11.91.83.74.63.63.42.82.41.91.81.61.56.75.54.94.23.53.43.13.17.89.27.47.36.35.34.24.44.13.96.78.06.76.45.85.04.24.24.03.919701971197219734.95.95.64.915.216.916.214.53.54.44.03.24.85.75.44.84.55.45.04.38.29.910.08.94.85.75.34.52.93.63.32.92.63.22.82.34.55.55.14.36.27.46.55.35.36.46.05.2Seasonally adjusted1972: JanFeb . .MarAprMayJune5.95.85.95.85.75.617.618.417.516.515.415.54.34.14.24.24.14.05.55.25.55.55.75.55.35.25.35.35.25.111.010.610.49.410.19.55.65.55.55.35.45.23.53.43.43.43.53.53.02.92.82.92.82.95.45.35.35.35.35.17.17.07.06.86.66.56.36.06.26.06.15.9JulyAug .SeptOct......NovDec5.65.65.55.65.25.115.516.716.115.515.415.53.93.83.84.03.53.35.65.55.45.55.05.05.05.15.05.14.64.59.89.79.910.19.99.65.35.35.25.34.84.83.33.23.33.42.92.82.82.62.72.82.52.45.15.14.95.14.64.56.56.46.06.05.75.65.96.05.85.95.45.41973: JanFeb.MarApr.MayJune5.05.15.05.04.94.814.415.614.215.215.114.03.43.43.43.43.43.25.25.04.94.84.64.94.64.64.44.54.44.38.99.09.09.29.28.84.64.74.64.74.54.43.03.03.03.02.92.92.42.42.52.42.32.34.64.64.54.54.34.35.65.75.55.45.35.35.35.45.35.35. 25.2JulyAugSeptOct.NovDec4.74.74.74.64.74.814.414.314.314.014.514.43.13.13.03.03.03.04.84.84.84.44.75.04.14.24.24.14.24.49.28.89.28.48.98.64.44.44.44.24.54.62.72.82.72.72.82.82.12.12.12.12.12.24.24.24.24.14.34.45.25.25.15.15.45.25.15.15.15.15.25.4i Married men living with their wives. Data for 1949 and 1951-54 are for April; 1950, for March,a Data for 1949-61 are for May.3 Includes craft and kindred workers, operatives, and nonfarm laborers. Data for 1948-57 are based on data forJanuary, April, July, and October.4 Man-hours lost by the unemployed and persons on part-time for economic reasons as a percent of potentially availablelabor force man-hours.Note.—See footnote 2 and Note, Table C-24.Source: Department of Labor, Bureau of Labor Statistics.279
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ECONOMICTRANSMITTEDTO THE CONGRESSF
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CONTENTSPageECONOMIC REPORT OF THE
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ECONOMIC REPORT OF THE PRESIDENTTo
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of the inflation rate of 1973, and
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or permit incentives—including hi
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people of an easy time. Like our pa
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THE PRESIDENT:LETTER OF TRANSMITTAL
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CHAPTER 3. INFLATION CONTROL UNDER
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Page7. Unemployment Rates by Sex an
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Page53. Maximum Percent Change in E
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We have specific problems, too, asi
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This curtailment of supply does, of
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consumption we would not have chose
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outside the food and fuel sectors a
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about $14 billion from deficit to s
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8 percent, at annual rates. Continu
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A third method, which seems to have
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DEVELOPMENT OF LOW-COST ENERGY FOR
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would otherwise have been invested
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TRANSPORTATION REFORMLast year the
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constraints. Restrictions on entry
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In early 1974 the Commerce Departme
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Consumer SpendingConsumer expenditu
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Chart 1Changes in GNP, Real GNP, GN
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During the fourth quarter the downt
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A number of points may be noted abo
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income do not appear to have played
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Chart 2Changes in Real GNPPERCENTUN
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of essentially declining participat
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The unemployment rate for adult mal
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from job losers, the remainder of t
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to maintain a somewhat larger work
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Chart 3Changes in Selected Price Me
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TABLE 12.—Changes in selected pri
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production workers, and it is sensi
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the profits that companies report a
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Two measures of changes in income t
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About $8 billion of the growth in e
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effect of covered wage and employme
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Since these apparent stabilization
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MONETARY POLICY AND FINANCIAL MARKE
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lation requiring ceilings on all CD
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TABLE 19.—Offerings of new securi
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CHAPTER 3Inflation Control Under th
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(A more detailed presentation of th
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ate of advance in grocery store foo
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to the economy but also in the sens
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were imposed, limiting prices to th
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spurring of domestic inflation by e
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was more than twice as high in 1973
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wage increases in many cases, const
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TABLE 26.—Behavior of items in co
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Chart 6Changes in RelatedWholesale
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and natural gas. A complex set of f
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CHAPTER 4Energy and AgricultureFOR
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al gas have contributed to the low
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TABLE 30*—Wholesale prices, all i
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tion sector, which in 1972 accounte
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United States on oil imports, OPEC
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of old oil and prices of imported a
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LONG-TERM PROSPECTSThe price of imp
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important that the higher costs be
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improving the environment. The fund
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pollutants into the atmosphere will
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of research and rapid mechanization
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lion in fiscal 1972. Actually the a
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a minimum income. Unless prices fal
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The Administration supports the exa
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and estimates of some of these effe
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Since families typically pool their
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ability were not perfectly correlat
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Farm wages and farm income received
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TABLE 37.—Average usual weekly ea
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Chart 9Real Incomes for Men in Diff
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ecause they have acquired more expe
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whose owners or white workers have
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Several factors can be mentioned to
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y social pressures, however, which
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TABLE 42.—Relation of wage and sa
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ferences in their mix of occupation
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for public housing may be valued by
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8 to 20 percent for black females.
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sufficiently high to cover the addi
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TABLE 45.—Federal Government tran
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given to the problems of poverty du
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TABLE 47.—Trends in the employmen
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enefit increases greater than the i
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(Table 45). Medicare is chiefly des
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Public assistance is specifically d
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Then, subtracting equation (4) from
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policies, and the tensions among co
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In the fourth quarter the dollar ro
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which include trade, grants and oth
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tarily by foreign central banks, ev
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ply of oil, and by domestic price c
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in the United States. In view of th
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TABLE 52.—U.S. balances on intern
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esult from changes in market value
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TABLE 54.—Major changes in capita
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attempt was made to agree on a code
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The official price of gold was rais
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system, these demand changes were a
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What Pressures Should Be Exerted on
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The composition of reserves among d
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prices of approximately the same or
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tained, they would probably be felt
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Reducing Nontariff BarriersIn order
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Structural problems. Agreements on
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arrangements which are designed to
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capital and the means of putting th
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Canada and four smaller countries u
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currencies have appreciated relativ
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Effective Changes in Other Currenci
Page 235 and 236: Activities of the Advisory Committe
Page 237: Appendix BREPORT TO THE PRESIDENT O
Page 241 and 242: Report to the President on the Acti
Page 243 and 244: govern the exploitation of the reso
Page 245 and 246: Manpower and Social Affairs Committ
Page 247 and 248: Junior Staff EconomistsJames S. Fac
Page 249: Appendix CSTATISTICAL TABLES RELATI
Page 252 and 253: PRODUCTION AND BUSINESS ACTIVITY:Pa
Page 255 and 256: NATIONAL INCOME OR EXPENDITURETABLE
Page 257 and 258: TABLE C-2.—Gross national product
Page 259 and 260: TABLE C-3.—Implicit price deflato
Page 265 and 266: TABLE C—8.—Gross national produ
Page 267 and 268: TABLE C-10.—Gross national produc
Page 269 and 270: TABLE C-12.—Personal consumption
Page 271 and 272: TABLE C-14.—Relation of gross nat
Page 273 and 274: TABLE C—16.—Relation of nationa
Page 275 and 276: TABLE C-18.— Total and per capita
Page 277 and 278: TABLE C-19.—Sources of personal i
Page 279 and 280: TABLE C-21.—Saving by individuals
Page 281 and 282: POPULATION, EMPLOYMENT, WAGES, ANDP
Page 283: TABLE C-24.—Noninstitutional popu
Page 287 and 288: TABLE C—28.—Unemployment insura
Page 289 and 290: TABLE C-29.—Wage and salary worke
Page 291 and 292: TABLE C-31.—.•Average weekly ea
Page 293 and 294: TABLE C-33.—Changes in output per
Page 295 and 296: TABLE C—35.—Industrial producti
Page 297 and 298: TABLE C-37.—Capacity utilization
Page 299 and 300: TABLE C—38.—New construction ac
Page 301 and 302: TABLE C-39.—New housing starts an
Page 303 and 304: TABLE C-41.—Sales and inventories
Page 305 and 306: TABLE C-43.—Manvjacturers* new an
Page 307 and 308: TABLE O45.—Consumer price indexes
Page 309 and 310: TABLE C—47.—Consumer price inde
Page 311 and 312: TABLE C~49.—Wholesale price index
Page 313 and 314: TABLE C-50.—Wholesale price index
Page 315 and 316: 194819491950.,1951195219531954Yearo
Page 317 and 318: TABLE C-53.—Commercial bank loans
Page 319 and 320: TABLE G-54.—Total funds raised in
Page 321 and 322: TABLE C-56.—Federal Reserve Bank
Page 323 and 324: TABLE C-58.—Bond yields and inter
Page 325 and 326: TABLE C-59.—Short- and intermedia
Page 327 and 328: TABLE C-61.—Mortgage debt outstan
Page 329 and 330: TABLE C-63.—Net public and privat
Page 331 and 332: TABLE C-65.—Federal budget receip
Page 333 and 334: TABLE C-66.—Relation of the Feder
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TABLE C-68.—Receipts and expendit
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TABLE C-10.—State and local gover
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TABLE C-72.—Estimated ownership o
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CORPORATE PROFITS AND FINANCETABLE
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TABLE C-76.—Relation of profits a
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TABLE C-77.—Sources and uses of f
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TABLE C-79.—State and municipal a
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TABLE C-81.—Business formation an
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Year1929...1933...1939...1940...194
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TABLE C-85.—Indexes of prices rec
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TABLE G-87.—Comparative balance s
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TABLE G-88.— U.S. balance of paym
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TABLE C-90.— U.S. merchandise exp
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TABLE C-92.—International reserve
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TABLE G-94.—International investm
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TABLE C-96.—Consumer price indexe
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ECONOMIC

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