The Waterbury Democrat., 1938-10-12

(Continued from Page D more than 6 million persons have gone back to work and prospects are for e continued rise.
 Employment on Upswing
 Employment started Its upswing shortly after mid-year and by August, the unemployed had been cut to i0,5e0,000. September figures have not yet been compiled but they are expected to show Q relatively sharp gain. There is Q strong pos- sibility, experts say. that unempioy- ment by the close of this year may be cut to the 9,29i 900 level which prevailed in the closing month of 1885. Tn September 1887, however, only 5,e5i, 900 persons were jobleSs, the best showing since 1882. The federal reserve board this week reported that it's seasonally ad- justed index Of production in sep- tember reached about 90 per cent of the ie23-26 norm of 100, the best level since 102 was reached in October last year. The post-depres- sion high of l2i was set in Decem- Der 1886, while the recession low of 76 was recorded last May. Tn Sep. tember last year the index was III. Steel Industry Speeding
 Steel production this week was scheduled at 5i.4 per cent of capac- ity, the best level since October 25 last year and recovery of 32.2 points from the recession low of i9.2 per cent reached in the final i936 week.
 One of the brightest spots of the current recovery is the building trade. Building authorities believe that activity this year may surpass 1887 and reach the best general level since les0 with residential building reaching the best volume since 1929.
 Engineering News Record recently reported that heavy engineering awards in September had reached the highest total for that month since 1e2o while the g months total was 6.3 per cent ahead of 1887 and ct the best point since 1930. Car loadings have been on the upgrade since mid-year. Retail Trade Improving
 Retail trade has been improving steadily in recent months and now !s around the 1887 levels, although 6 % per cent lag occurred in the first quarter of the year.
 Automobile production is on the upswing, with manufacturers lock- ing for a 25 to 50 per cent expan- sion over last season.
 Textile, machine tool and chemi- cal business--all regarded as busi- pess barometers-have shown Q steadily rising trend in the past few months.
 Sloan Encouraged Detroit, Oct. 12-(UP)--Alfred P, Sloan, Jr.. chairman of the Board of General Motors, told a meeting of dealers and distributors here that he believed present increased activ- ity in the automobile industry marks the beginning of an unward trend Ion the long pull"
 q am encouraged about business on the long pull" he said.
 T believe, for ourselves, business in 1889 will be better than last year (refeFring to the 1888 model pro- duction year which ended this sum- mer) and in some cases better than in 1887"
 Sloan said customarily he declined to predict business conditions for more than a year in advance. but that present activity encouraged him to make favorable long-range forecast.
 He said there would be definite improvement" throughout the na- ton next year.
 "The attitude of the country Is changing" he said. "If the fall elec- tons reflect this change. you can expect an important effect. There will be e more sympathetic attitude toward business"