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Cnc. 25/3

THIS DOCUMENT IS THE PROPERTY OF HIS BRITANNIC MAJESTY'S GOVERNMENT

Page 474fine for the Cabinet. March 1949 Page 474 of 488

The circulation of this paper has been strictly limited. It is issued

for the personal use of

TOP SECRET

C.P. (49) 70

23rd March, 1949

Sim Norman Bock.

CABINET

241

Copy No. 31

ECONOMIC REPORT

NOTE BY THE CHANCELLOR OF THE EXCHEQUER

I circulate a note on the more important statistics relating to the economic situation which have become available since my last Economic Report (C.P. (49) 30).

Treasury Chambers, S.W. 1,

23rd March, 1949.

R. S. C.

ECONOMIC REPORT

I.-Man-Power

The Ministry of Labour's new man-power statistics, based on the number of contributors under the national insurance schemes, show that the total working population rose in January by 29,000 owing to the intake of school-leavers after the Christmas holidays.

2. There were increases in January in the number of men and women on release leave who had not taken up employment and in the number of registered unemployed. The total number in civil employment remained almost unchanged at just over 22 million.

3. The number of persons unemployed, which rose from 327,200 at 6th December to 375,700 at 10th January, declined to 360,300 at 14th February. This represented about 1-8 per cent. of the total number of employees insured. under the national insurance schemes.

4. Total man-power in the manufacturing industries increased in January by 26,000 to 8,227,000. Employment was greater in all main groups except food, drink and tobacco. There were increases of 11,000 in the metals, engineering and vehicles group, 9,000 in clothing and 6,000 in textiles (2,000 in cotton and 1,000 in wool).

5. In the basic industries reductions of 5,000 in agriculture and 2,000 in transport and communication offset increases of 3,000 in gas, electricity and water and 1,100 in coal-mining.

6. There was a seasonal fall in January of 15,000 employed in building and contracting. Employment in the distributive trades, which declined in December, fell further in January by 4,000.

1

II.-Production

7. The index of total industrial production (1946 = 100) declined seasonally in December to 123. The index for January is estimated provisionally at 124. For the manufacturing industries the index was 125 in December.

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