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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 02, 1958
Page
5
AP report outlines June prospects for jobs wages and inflation. Employment may rise as graduates seek work while 5 million already jobless remain. automation output and factory layoffs hint at weaker industrial activity but seasonal outdoor jobs and a strong travel season offer counterbalance.
The article notes rising steel wages and a key industry showdown. It suggests June will reveal if inflation is halted or regaining momentum as deficits widen and tax decisions near completion. It cites costs of living, garden budgets, and service prices as indicators.
The fiscal year ending this month shows a near 4 billion deficit with an 11 billion outlook for the new year. June will publish official May economy statistics. The trend hints at slower industrial output and modest gains in consumer spending, with a typical July 1 seasonal lull and a forecasted push to September.
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