Employment Outlook - Worktime to Buy Goods and Services - Finance Facts - Consumer Credit - Industrial Production - Personal Income

Sep 21, 2026

Uploaded by Skyler

Employment and labor market projections outline faster white-collar growth than slower blue-collar expansion, highlighting strong demand for roles ranging from computer operators and systems analysts to engineers and office machine specialists. Worktime-to-price comparisons quantify how many minutes or hours of labor were needed to afford items and services. Consumer finance sections summarize financial behavior through credit movements, repayment trends, and outstanding totals, followed by industrial production levels and recent personal income growth.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages4

Reading Time10 min

AccessFree to download

Employment Outlook

Worktime to Buy Goods and Services

Finance Facts

Consumer Credit

Industrial Production

Personal Income

Any or all the materinl in this publication may he quoted or neproduced. # EMPLOYMENT OUTLOOK More rapid growth in white-collar occupations,slower growth in blue-collar occupations,faster than average growth among service and salesworkers,and a decline among nonfarm laborers and farm workers isexpected over next decade. Greater growth expectation for white-collar jobs reflects the continued ex-pansion anticipated for the service-producing industries that employ ahigh proportion of white-collar workers;the growing demand for per-sonnel capable of performing research and applying scientific findingsin industry;the increasing needs for educational and health services;and a continuing growth in the amount of paperwork necessary in alltypes of enterprises.Although the number of blue-collar workers as agroup will increase at a much slower rate than that of white-collarworkers,the number of craftsmen will grow at about the same rateas total employment. By 1980,number of professional and technical workers will increase byone-half,but a high school education will still be sufficient for 8 ofevery 10 jobs.Half or more of the total work force will be in white-collar jobs.Seven of every 10 workers will be in service jobs. Strong demand expected for computer operators,systems analysts,recrea-tion workers,engineers,para-medical specialists,office machine opera-tors,and business machine servicemen. More information about the outlook for over 700 occupations and 30 majorindustries will be found in the 1970-71 edition of the “OccupationalOutlook Handbook,"available at $6.25 per copy from Superintendentof Documents,U.S.Government Printing Office,Washington,D.C.20402,or any Regional office of the Bureau of Labor Statistics. # WORKTIME TO BUY GOODS AND SERVICES Production workers in manufacturing in the United States in September1969 earned an average of $3.24 per hour,including overtime.At thisrate,with average prices as they were at that time,a production workerlabored an average of 12 minutes to earn enough to buy a pound ofground beef,and 15 minutes for a pound of butter.A man's suit re-quired about 24.5 hours of work time,a day in the hospital 14.7 hours,a pair of eyeglasses 11.8 hours,and a tooth extraction 2.7 hours of work.A month's rent for a dwelling unit of average cost could be earned inabout 3 working days.A good used car could be bought for about 8.6weeks'work,and a new car of one of the popular makes for about 25.5 weeks'work. # FINANCE FACTS A Monthly Publication on Consumer Financial Behavior OCTOBER 1970 While Total EmploymentOne-fifth by 1980... | Ыдшшу Огоь» ЕаБэМШУшу МИу | | | | | | | --- | --- | --- | --- | --- | --- | | Dedine | псимгу | РгорсЮд отрЮюутет дгочИН | | | | | | | Мо
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FAQs

What employment growth pattern is expected over the next decade?

The outlook projects more rapid growth in white-collar occupations and slower growth in blue-collar occupations, with faster-than-average growth in service and sales work and declines among nonfarm laborers and farm workers.

How is worktime used to illustrate the cost of goods and services?

The document compares average hourly earnings and typical prices to estimate the labor time needed to buy items such as ground beef and butter, plus larger costs like a suit, rent, and vehicles.

What does the consumer credit section report about July changes?

It states that consumer instalment credit outstanding increased after seasonal adjustment, noninstalment indebtedness rose more moderately, and total consumer credit outstanding reached a specified end-of-July level with totals broken down by major categories.

Sep 21, 2026

Uploaded by Skyler