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month’s Economic Indicators, predicts that business will decline during the first half of the year and then pick up during the second half. Although many other economic observers are pessimistic about the economy, the VEC still stands behind this forecast.
The three indicators which rose over November’s levels were: nonfarm employment which rose to 1,896,900 from 1,893,700; unfilled job openings with the VEC, up 9.5 per cent; and average weekly earnings of''manufacturing production workers, up by 30 cents to $141.82.
GIFFORD thought that the increase in unfilled job openings with the VEC was probable attributable to difficulty in matching available workers to available jobs, in view of the rising unemployment rate, H) to 2.8 per cent from 2.5 percent in November.
Compared to December 1972, 10 of the 18 indicators declined, six rose and two were unchanged. □
95.4%