Evening star., 1930-09-25
IMPROVED TREND
IN LABOR IS SEEN
William Green Points Out
Unemployment Reduction
in "a Cities.

| A definite trend for the better" in
the business situation was seen today
by William Green. president of. the
American Federation of Labor, on the
basis of reports that unemployment in
"a cities during early September was
21 per cent, as compared with % per
cent in July and August.
This is the first time in the three
years since We have collected figures
from trade unions that employment
has shown so definite and general an
improvement in September" Green
said. The trade unions furnished the
reports on which his statement was
based.
The slight decrease in unemployment
is explained in part by the unprece-
dented number out of work in July and
August. Green said But in the pres
ent situation it is encouraging" he
said, since better employment means
more purchasing power for wage earn
ers."
Encouraging, but Slight.
Green emphasized that the upturn,
although encouraging, has been. only
slight in comparison with the large
numbers still needing jobs. I'VE should
not lose sight of the fact that over
twice as many are still out of work as
at this time last year." he said.
Meanwhile, the Federal Reserve Board,
in its monthly review of business and
finance reported that industrial pro-
duction, considered from the standpoint
of seasonal variation, continued to de-
cline in August, factory employments
were smaller, and wholesale, prices,
which had increased in the month,
showed some pronounced declines in the
first half of September.
The board added that industrial pro-
duetion as a whole was in about the
same volume as in July, contrary to the
usual upward trend at this season Of
the year, although there were increases
in a number of basic Industries.
The general level OF wholesale COM
modify prices, which have declined con-
tinuously for year, remained un-
changed in August with upward trends
in certain agricultural staples.
Reductions Are Cited.
"The boards index of industrial pro-
duction, which makes allowance for
seasonal variations, continued to de-
cline in August" the report said. Pro-
duction of automobiles, pig iron, lum-
Der and sugar decreased and there was
a reduction in the consumption OF cot
ton and WOOL In the bituminous coal
and silk industries there was less IN
crease than is usual at this season OF
the wear, while steel, cement, -four and
shoes the increase was slightly more
than usual During the flrst two weeks
of September activities at steel plants
increased, while q further reduction IN
the output Of automobiles was re-
ported"
slightly smaller volume during August
while residential contracts continued
small.
sales of department stores were de-
scribed as larger than in July but
smaller than a year ago, while the vol
ume of freight shipped by rail increased
less than the usual amount IN August.
Farm Prices Advance.
s'There were increases during August
in prices of many agricultural products,
especially meats, live stock and grains
while the price of cotton decreased"
the report continued. Prices of mineral
and forest products. and of important
raw materials and their manufactures
in general declined, with the principal
exception of silk. The Bureau OF Labor
statistics index of wholesale prices
showed no change from the preceding
month.
sDuring the first half of September
there were pronounced declines in
prices of wheat, corn, hogs, pork and
rubber. Prices of cotton and woolen
textiles remained barely stable while
those of hides and coffee increased"
The board said that in the month
from August 20 to September IL, there
was an increase in Federal Reserve
member bank holdings of investments
and in the loans on securities, while
all other loans, including those for COM
merciaI purposes, declined, contrary to
the usual seasonal trend. The volume
of Reserve Bank credit outstanding
showed a growth for the period, as
usual at this season, but the increase
was relatively small owing to the fact
that the seasonal demand for currency
was smaller than in other recent years
because of an addition Of SIS, 100000
to the country's stock Of gold.