. Before the United States Railroad Labor Board : argument for a wage increase . ableswith the accompanying chart, whidi shows the course ofemployment and total wages paid in the Cotton and WoolenHosiery and Knit (Joods Industry in B. Y. State. Glance atthe line which follows the payroll. Between April, 1920and the end of the year the total purchasing power of thesewage earners was cut approximately two-thirds, the indexnumber falling from 204 to 68. I want you to read intothis what i5 meant in terms of decreased demand for goodsand consequent intensification of the depression and ofunemployme
. Before the United States Railroad Labor Board : argument for a wage increase . ableswith the accompanying chart, whidi shows the course ofemployment and total wages paid in the Cotton and WoolenHosiery and Knit (Joods Industry in B. Y. State. Glance atthe line which follows the payroll. Between April, 1920and the end of the year the total purchasing power of thesewage earners was cut approximately two-thirds, the indexnumber falling from 204 to 68. I want you to read intothis what i5 meant in terms of decreased demand for goodsand consequent intensification of the depression and ofunemployment in other-industries. Polliowing the curve of .191 employment we note that In the same period nearly twothirds of the workers in the industry were given a tasteof temporary or permanent unemployment, the index ofnumber employed falling from 104 to 36. The surplus ofLahor, a little of v^iich tends to break the labor market,was increased to that extent. The extraordinary drop in :.eline following the payroll in this industry is sufficientlystriking to need no farther irOTjiL PAYROLL M^J) NUMBH^ HiPLOYSD IK C0T20H AlID W0UL2K HOSIL^Y MJ) XUID GOODS AS EEPuRSiL) TO KilV Y^im. STaIS IKDU^TRIaL COMMISSION (INDSX IJUMBSRS BAS:JD OK JAK. 1918 - 100) TOTaI PAYROLL ■101%. 1919. 1920. 1921. Jan. 100 129 189 49 Feb. 119 105 179 80 Mar. 135 108 201 97 April 138 110 204 111 May 141 122 19 5 117 Jane 145 140 190 122 July 150 153 177 ;o5 Aug. 150 162 168 111 3ept. 154 156 154 124 Oct. 129 165 110 138 llov. 131 165 80 136 Dec. 144 179 68 128 MJMBSR 5I.!PL0YiiD 1918 1919 1920 1921 Jan. 100 87 103 29 Feb. 101 80 99 47 Iviar. 104 80 104 59 April 105 79 104 66 May 104 86 100 68 Jane 101 92 95 71 Jaly 102 96 89 55 Aag. 102 99 86 68 Sept. 99 95 78 74 Oct. 90 98 59 81 IJov. 98 99 43 83 Dec. 95 103 36 79 19 U. S. Department of Labor figures to£ this same industryshow the same break in the purchasing power of the m^ge earnersfot the country as a whole. In the folloi;sing table it ap~pears
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Keywords: ., bookcentury1900, bookdecade1920, bookidcu3192406687, bookyear1922
