Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-17
LABOR SITUATION "
IS DECLARED SOUND
Workers Buying Power
Found Not Seriously Impair
ed by Unemployment.

Analysis of the survey of employment
and employees earnings made public by
the Bureau Of Labor Statistics has
convinced Government officials of the
innate soundness Of the labor situa-
ton. Despite decline in number en-
ployed and in earnings as the year 1929
drew to close the level of each showed
gain for the IL months ended Deem
Der 81, as compared with both 1928 and
1927.
More significant still was the fact
that while employment dropped per
cent IN December, as compared with
November earnings fell only eight
tenths Of per cent. This Is ample evil
dence that there has not been a dispo-
sition to cut wages. Employment for
all industries for the year was 80 per
cent above that for 1928 and employees
earnings showed gain of So per cent
as compared with that year. The level
OF employment was IL per cent higher
IMAM In 1927 and the total of earnings
was per cent above that of two years
ago.
Retail Trade Increase.
The years Of 1927 and 1928 were the
most prosperous years this country ever
mad up to the present and the gain. "a
compared with those periods, has given
Strong encouragement to business men
and Government executives, This
Strength was emphasized by the an
nouncement by the Department of La
Dor That retail trade showed a decided
increase in December as compared with
Inc conclusion reached from the fig
t uIes presented Is that buying power of
Iile PUBIC IN general has not been dan
k1Vy
Is unlikely to be. December en1njov-
ment, as compared with December a
year ago, showed a loss of 3S per cent
IN number employed and SO per cent in
pay rolls, but despite this fact the VOL
ume OF retail trade showed an increase
The working people of the countrv
nave been building UP their reserves in
sne iaSG II months, explained a prom
nent Government official today. "Thev
nave zone Just what many banks are
now dolng-setting up funds for con-
tingencies and future demands. OnIv
they have done 1t first. Their position
Is nearly as sound as the position of
banks In many cases. These reserves
are not now being depleted at anv
alarming rate. The figures of the ne.
partment Of Labor show that in a. 432
establishments 4,928,090 workers were
employed and that their combined
OoAhhiSo III OcGemDGr amounted To
$l52 ,908. The reserves are NOT ike
to suffer severe depletion so long as
tney are being fed at such a rate
Credit Position Sound.
The workers Of the country, accord
ing TO the Government financiers, are
prepared to withstand siege and con-
sequently are not likely to have to with
stand one. They have money in the
nanks and are not likely to Curtail buy
ing while those reserves last. The banks
In turn have money in their reserves
ana are perfectly prepared to extend
. helping nand TO reputable merchants
who need extension of credit in order
TO carry their regular customers along
through periods Of depression. This Sit
uatlon Is not extraordinary-it is sea
sonal, It occurs annually In the coal
neids, In the building and construction
industry in the rural communities and
IN q score OF other lines of endeavor.
consequently neither workers nor bank
ers are alarmed. they are just prepared.
tcopyrisht, 1sso)