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The Potters Herald
East Liverpool, Columbiana County, Ohio
What is this article about?
In Cleveland, Ohio, economist Brig. Gen. Leonard P. Ayres predicts post-war unemployment at about 2,500,000, noting minimal changes in some sectors but major adjustments needed in manufacturing, which must release 4,000,000 workers, and emphasizing job needs for 11,600,000 returning veterans.
Merged-components note: Title and body of the same economic prediction story on post-war unemployment levels; merging into domestic_news.
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Cleveland, Ohio (ILNS).—Unemployment in the nation will be at about a level of 2,500,000, Brig. Gen. Leonard P. Ayres, economist, predicted in the Cleveland Trust Co.'s monthly business bulletin.
"No very serious readjustments will be required in about half our economy, but very difficult changes will be required in the rest of it," the prediction said.
Gen. Ayres, vice president of the trust company, wrote:
"Unemployed members of the labor force have decreased from 8,600,000 (in 1940) to only 1,000,000. This last figure is abnormally low, and a reasonable post-war figure in prosperous times might well be about 2,500,000."
In trade, finance and service and transportation-utilities-construction brackets, Gen. Ayres reported, employment was little changed from 4 years ago. Agricultural employment dropped from 11,000,000 to 9,600,000 in the 4 years, but the economist added that "probably the farms will be able to support about as many people after the return of peace as they did in 1940."
"Manufacturing employees have increased by well over 50 per cent in the war years, and most of the newcomers are making things not used in peace-time," he said. "The real fact is that manufacturing will have to release about 4,000,000 after the war, and that about half of them are now making ships and airplanes."
Demands Jobs For Veterans
Stressing the increase from 400,000 to 11,600,000 in the armed forces Ayres said:
"When peace returns jobs must be found for all of them who will want jobs. It will not be easy to solve this problem. Clearly, it cannot be done by telling manufacturing to take care of them."
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Domestic News Details
Primary Location
Cleveland, Ohio
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Outcome
predicted post-war unemployment of 2,500,000; manufacturing to release 4,000,000 workers; jobs needed for 11,600,000 returning veterans
Event Details
Brig. Gen. Leonard P. Ayres, economist and vice president of Cleveland Trust Co., predicted in the company's monthly bulletin that post-war unemployment would reach about 2,500,000, with minimal changes in trade, finance, service, transportation, utilities, construction, and agriculture, but significant reductions in manufacturing due to wartime expansions in ship and airplane production. He stressed the need to find jobs for returning armed forces members, noting it cannot solely rely on manufacturing.