Word: boost
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...Bureau of Labor Statistics this week. No fewer than 735,000 moved from the unemployed list to jobs, 452,000 of them married men in the vital family breadwinner category. The recovering economy also brought enough additional workers (mainly young people and women) into the labor force to boost total employment by 1,200,000 to 65 million, biggest April working force in U.S. history...
...that, even the board had misgivings, got special permission from the state legislature to raise $200,000 by selling short-term warrants to its Houston bank. As citizens cheered, the board voted to reopen the schools and even to boost the tax rate next fiscal year to $1.75. But trouble was far from over: the bank flatly refused to buy Aldine's warrants, and the schools stayed closed...
...Warning on Costs. Last week there was no indication that any official action was being considered to stem the gold outflow. Treasury officials professed to be pleased at the growing signs that the U.S. policy of helping Europe to boost exports was running according to plan. Said Per Jacobsson, director of the International Monetary Fund: "I do not think the U.S. gold outflow represents any real threat to the dollar. With the U.S. possessing more than half of the world's gold it would be absurd to say that...
Makers predict that production of room units will rise from last year's 1,350,000 to about 1,700,000, and shipments of central air conditioners will go from last year's 224,000 to 280,000. They expect a boost from the record number of new houses going up this year (see Construction); 10% of them will be built with central air conditioning v. only 1.4% in 1952. Says the Federal Housing Administration: "Within a few years, any house that is not air-conditioned will probably be obsolescent...
...industry angrily disagreed. Chairman Avery C. Adams of Jones & Laughlin said that from 1940 to 1958 the industry's labor costs per man-hour increased 298%, while its shipments of steel products per man-hour increased only 30%. Thus, every recent wage hike kicked off a steel price boost (see chart). Adams and fellow executives contended that profits are still "inadequate" to support a wage hike. Even at last year's relatively high levels, steel's profits-to-assets ratio ranked 27th among the nation's 41 key industries. The "obvious" solution to wage-push inflation...