Uncategorized

Good Economic News

Click to see original imageThere’s good economic news in Utah County. The unemployment rate for April was at 3.4 percent for an alltime record. The number of unemployed workers stood at 2700 for the month, down from the 3320 in March, according to the Utah Department of Employment Security (Provo Job Service Center). Seasonally-adjusted, the jobless rate at 3.9 compares favorably to the state’s 4.5 percentage and the nation’s 5.7 percent. Job Service said the labor force in Utah County has grown be 7 percent in the past 12 months. This is indicative of the increase in population which is expected to be reflected in the 1980 census. Gains were reported in every segment of the economy, with manufacturing at 10.8 percent being the biggest gainer, the Job Service report showed. “Of interest is the growth of durahles in manufacturing at a whopping 12 percent. There have been 4900 new jobs created during the past year and 5250 more persons are working than last year at this time. Tieing in with the picture, claims for unemployment are down and job orders are up. Manufacturing is now the second largest group of any segment of the economy. “This has been evident for the last few months as the number of industrial firms moving into the area has increased significantly,” Job Service reported. Nation-wide, the civilian labor force declined by 600,000 in April to 102.1 million and the unemployment percentage gained a percent to 5.8 in Apri, according to the Labor Department. Utah has been consistently under the national figures – and Utah County has fared better than the state average in many reports. Jobs mean payrolls and these strengthen the economy. The scant amount of unemployment in the countly indeed is encouraging. Briefly Noted Chalk one up for the dollar. It has been making a strong recovery on the foreign exchange markets. So strong that the Treasury is easing off on sales of gold. Since last November, it has been auctioning off 1.5 million ounces of the Fort Knox hoard every month to prop up the dollar’s value on the intemational exchanges. Beginning in May, mont ly sales are being cut in half, to 750,000 ounces. Treasury Secretary Michael Blumenthal says the development demonstrates the success of the administration’s support program, ”… the real value of the dollar is manifesting itself.” In other words, for the time being it is again as good as gold. Well, let’s say half as good., Happy Ending Remember the killer bees? These were the ferocious hybrids, an accidental cross between bad-tempered African and domestic Brazilian bees, that were buzzing their way north, attacking everything in their path from people and livestock to motor vehicles. They were supposed to reach Texas by 1985. They still are. But according to a late report from Brazil, they are no longer a threat. Dr. Helmutb Wlese of the Brazilian Confederation of Apiculturists informs that the killer has succumbed to romance. Enthusiastic mating with Brazilian bees has blunted its sting and transformed it into an industrious honey producer. Love, how sweet it is. So They Soy “Indeed, inflation could become a major contraceptive force as we move toward the end of the century.” – Lester. Brown, an agricultural economist at Worldwatch Institute, predicting the rising price of food will result in higher infant mortality among the poor due to malnutrition. “Most of the things are from around here and I’d like to see them stay in the community.” – Niles Hagelshaw, 80, a former grain elevator manager, showing his collection of 500 bottles, 450 pieces of wire and a 1917 erector set.