CAB129-35 — Page 107

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

Page 10&hed for the Cabinet. May 1949 Page 108 of 366

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

Sir Noman Bracken

for the personal use of

For

TOP SECRET

C.P. (49) 121

25th May, 1949

Copy No. 31

CABINET

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) 70).

R. S. C.

Treasury Chambers, S.W.1,

25th May, 1949

ECONOMIC REPORT

I.-Man-Power

Despite a further fall of 30,000 in the total working population during March, the number in civil employment recovered to the same level as in January. This was made possible by a reduction of 10,000 in the Armed Forces and of another 10,000 in the number of men and women on release leave and by a fall in the numbers unemployed in March.

2. Total man-power in the manufacturing industries declined slightly in March. A reduction of 6,000 brought the number employed in metals, engineering and vehicles down to the same level as at the end of December 1948. There was a gain of 3,000 persons during March in the clothing industry but no change in textiles. There has been no significant change during the first quarter of this year in total employment in building and contracting or in distribution. The rise of 7,000 during March in professional, financial and miscellaneous services brought the number employed back to the end-1948 level.

3. The number of persons registered as unemployed declined from March to April from 340,400 at 14th March to 324,900 at 11th April when the rate was equivalent to about 1.6 per cent. of the total number of employees insured under the national insurance schemes. The fall in unemployment was confined, for both males and females, to those wholly unemployed for more than two weeks. The rise in the number of persons wholly unemployed for less than two weeks was due mainly to school-leavers..

4. The more detailed quarterly analysis prepared by the Ministry of Labour shows that of the total of 242,061 wholly unemployed males at 14th March, 1949, 33 per cent. had been unemployed for not more than four weeks and 15 per cent. had been unemployed for more than a year. 44 per cent. of the females had been unemployed for not more than four weeks and 4 per cent. for more than a year. 58 per cent. of the males and 71 per cent. of the females, who were wholly un- employed at 6th December, 1948, had found work or ceased to register by the middle of March.

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