PUBLIC EMPLOYMENT - Monthly Finance Facts - August 1977

Sep 21, 2026

Uploaded by Oliver

Monthly finance and labor overview covering U.S. public employment growth, real earnings changes, business leaders’ expectations for sales and profits, and key financial indicators. Tracks employment levels, payrolls, income comparisons versus manufacturing and other industries, and shifts in real weekly earnings from April to May. Includes wholesale price movements, leading indicators index changes, home prices, personal income updates, and a detailed section on total debt for public and private sectors with 1976 end-of-year figures.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages5

Reading Time13 min

AccessFree to download

PUBLIC EMPLOYMENT

REAL EARNINGS

BUSINESSMEN'S EXPECTATIONS

FINANCE FACTS

WHOLESALE PRICES

INDEX OF LEADING INDICATORS

PRICE OF HOMES

PERSONAL INCOME

Any or all the material in this publication may be quoted or reproduced. # PUBLIC EMPLOYMENT Government employment in U.S.has more than doubled over last 20years,according to The Conference Board.Public sector employment hasrisen from 7.4 million in 1955 to 15 million in 1975.State and localgovernments,which employ 12.1 million workers,accounted for most ofincrease.Federal civilian jobs showed moderate rise with actual declinesduring late 1960's and early 1970's.Public employees accounted for 19.2%of all nonagricultural workers in 1975,up from 13.3%in 1950.These workers received combined payrolls of some $13 billion a month,five times figure 20 years ago. During 20 year period Federal civilian workers increased their ranks byless than 0.1%and their payrolls by some 8%to a monthly income ofabout $3.6 billion in 1975.Federal civilian wages and salaries averaged$15,238 a person for the year,while a person in manufacturing averaged$11,941;average for all domestic industries for the year was $10,890. State rolls rose by 3.5%between 1970 and 1975,down from average 6%increase during previous five years,and local growth was reduced byalmost 1%.Payrolls of these employees rose by more than 10%,withsome $2.6 billion per month to state employees and $7.0 billion to localones in 1975.A major reason for increase in state and local governmentemployment and payrolls is that these governments are to provide mostcivilian services. # REAL EARNINGS Real gross average weekly earnings increased 0.2%from April to Mayafter seasonal adjustment.Average hourly earnings increased 0.6%butwas offset by 0.6%increase in Consumer Price Index;however,averageweekly hours increased 0.3%.Over the year,real average weekly earn-ings were up 0.7%,average weekly hours remained unchanged andaverage hourly earnings increased 7.5%,more than offsetting 6.7%rise inCPI. ## BUSINESSMEN'S EXPECTATIONS Businessmen's optimism toward sales and profits continued to grow,according to Dun &Bradstreet's latest Survey of Businessmen's Expecta-tions.Optimism of the 1,390 business leaders interviewed about upcom-ing third quarter was highest it has been in four years. Sales optimism index(the percentage of executives expecting increasesminus the percentage expecting decreases)rose another eight points toreach 80,highest reading since third quarter of 1973.Manufacturers,wholesalers and retailers all shared in rise in confidence.Expectations onprofits also rose by eight points to 73,but views were varied,dependingon types of operations. # FINANCE FACTS A Monthly Publication on Consumer Financial Behaoior AUGUST 1977 Sales Optimism IndexPer cent of firms expecting sales toper cent of firms expecting salesto decrease. 19671968196919701971197219731974197519761977durablesalersMANUFACTURERSSourem:Buaines Eeonomie Departmant,DunBBredatreetIne. TOTAL DEBT Net public and private debt totaled $3,354.9 billion at end of 1976.Totalnet debt increased 10.8%in 1976,compared with 9.9%(revised)in 1971.Public debt increased more rapidly than private debt for second consecu-tive year.In all other years since 1945,private debt had increased morerapidly than public debt. Net public debt increased 11.5%in 1976,compared with 9.0%in 1971.Net debt of Federal Government,federally sponsored credit agencies,and state and local governments was $833.4 billion at year-end 1976,compared with $528.5 billion at year-end 1971.Federal Governmentdebt,which accounts for three-fifths of public debt,increased 15.6%in1976.The 1976 increase was second highest since 1945. Net private debt was $2,521.5 billion at year-end 1976,increase of 10.5%.Corporate debt,which accounts for almost three-fifths of private debt,increased 10.0%during 1976,compared to 9.3%in 1971.Consumercredit increased 10.4%to $217.8 billion in 1976,and mortgage debt on1-to 4-family nonfarm homes was $546.8 billion,increase of 12.5%during 1976. ## WHOLESALE PRICES Wholesale price index for all commodities decreased 0.6%fro

FAQs

How did public employment change over the 20-year period described?

Government employment in the U.S. more than doubled over the last 20 years. Public sector employment rose from 7.4 million in 1955 to 15 million in 1975, with state and local governments accounting for most of the increase.

What happened to real gross average weekly earnings from April to May?

Real gross average weekly earnings increased 0.2% from April to May after seasonal adjustment. Average hourly earnings rose 0.6% but was offset by a 0.6% increase in the Consumer Price Index, while average weekly hours increased 0.3%.

What were the key wholesale price and leading indicator changes mentioned?

The wholesale price index for all commodities decreased 0.6% from May to June after seasonal adjustment. The composite index of leading indicators decreased 0.2% in May, reaching 130.6 (1967=100), based on preliminary data.

Sep 21, 2026

Uploaded by Oliver