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Chapter II. Production, Labour Supplies and Productivity

Published online by Cambridge University Press:  26 March 2020

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Abstract

This chapter uses, in addition to published figures, information obtained in the Institute's Industrial Inquiry in November and December 1961. The chapter gives, first, a general survey of trends in production, employment and productivity in 1961. It then considers whether capacity and labour supplies are adequate for the rise in demand which is likely, on present policies, this year. Finally, it gives a short account of developments in individual industries in 1961, and comments on their prospects this year.

Type
Articles
Information
National Institute Economic Review , Volume 19 , February 1962 , pp. 19 - 31
Copyright
Copyright © 1962 National Institute of Economic and Social Research

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References

Note (1) page 19 Appendix table 6.

Note (1) page 20 A participation rate is the proportion of any particular age-group who are either at work or registered as unemployed.

Note (1) page 21 J. R. Shepherd, ‘Note on labour supplies : trends and prospects’, National Institute Economic Review, no. 11, July 1961.

Note (1) page 24 Part of the explanation of the difference of view lies in a different interpretation of what happened last year. Some take the view that the rise in home demand in the first half of the year was an accentuation of the seasonal pattern, and that the rise should be repeated this year. In our view, it was the result of the lengthening of the period of hire pur chase repayment in January, and in default of any credit relaxation this year there is no reason to expect that it will be repeated.

Note (1) page 28 Including footwear.

Note (1) page 30 Steel Review, January 1962.