Employment and Unemployment

Abstract

The year 1929 was chiefly characterized by a high level of factory employment and pay-rolls. How high they were is better measured by indices adjusted to the U.S. Censuses of Manufactures, than by unadjusted "link-chain" indices. The slump late in 1929 carried factory employment and pay-rolls in December down to a point abreast of their low of years before but above those of mid-1924 and far above 1921. Rail-road personnel enjoyed better employment in 1929 than in 1928, though less good than in other recent years owing chiefly to technological displacement; but their earnings were very large. Anthracite miners suffered somewhat in loss of employment and more in loss of income because of part-timing. Lack of direct information on nation-wide building employment will, it is hoped, be remedied soon. The federal government had success in measuring other non-factory employments in 1929. Progress has been made in the direct measure of unemployment through several local surveys, and completion of plans for the 1930 Census of Unemployment; but unemployment volume is still unknown.