G.F. 323
{
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33.
a proportion of gross output dropped from 31% in 1973 to 25,3 in 1974.
These ratios taken together represent a relative shift of the share of
value added to labour. A possible explanation for this shift in the
circumstance is the time lag resulting from the fact that manufacturers
probably do not immediately adjust the size of their work force with
fluctuations in orders. At the start of a recession, they first have
to establish that the reduction in orders is not a temporary phenomenen.
On the other hand, manufacturers may be insufficiently sure at the start
of an economic boom to be able to ex and their work force with confidence
and in any case they are likely to have unused capacity in their existing
labour force. The time log in adjustment varies between different
industries. It tends to be particularly long for such industries using
particularly skilled labour as the textile industry.
Table 34
68.
Statistics on production in 1974 for the clothing industry
showed a decrease in the number of ostablishments, but increases in
employment and in cutput. In 1974, value added (for clothing establishments
engaging 10 or more ersons) increased by 6%, employment and remuneration
to labour by 5% and 2% respectively compared with 1973. Total man-hours
worked by operatives increased by 7. The clothing industry in 1974
was in a rather peculiar situation. The recession coincided with a
change in demand in favour of denim products. Consequently, manufacturers
of trousers, jeans, dresses, blouses and skirts did well, more than compensating
for the decline in cutput of clothing.
69.
These production figures were not fully reflected in the
export statistics for 1974. They were collected from manufacturers
who usually have their accounts ending in March each year.
Thus, for
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