Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 2 · column 3 of 7 · from the scan, no model involved
One of the grpat elements of underlying strength in the American economy has been the fact that over the years the labor has grown faster than has the population as a whole, according to an analysis of official government data.
It is this expansion in the labor force combined with its increased productivity that have been basic factors in the nation’s remarkable progress and in the steady rise in American living standards. Output per man hour has been increasing at an average rate of about 2 per cent a year for several generations.
While the labor force will continue to grow, its size has apparently stabilized in relation to the population as a whole. This introduces a new element in American life of significant <*eonomie implications.
The Need for Productivity
The labor force includes all those gainfully employed, whether for themselves or working for others. It is therefore the productive part of our society, and the source of the wherewithal to meet everyday living needs and all the other charges placed on the economy. These charges have been rising rapidly. They already represent a heavy burden now,* and their cost will increase greatly in the years to come without a single new addition.
With a stabilized labor force, the full responsibility of meeting our expanding obligations is automatically thrown upon increased productivity. People will have to work harder and more efficiently. For unless productivity continues to gimv at least as
64.9%