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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Jan 10, 1967
Page
12
New York stocks opened firm but selling pressure grew through the day as traders awaited President Johnson’s national address. The market drifted lower in most sectors with only a late rise in some issues lifting the tape briefly.
New York stocks end lower amid mixed inflation signals and cautious buying. Dow Jones averages drift as traders weigh unemployment forecasts for 1967 and the impact on corporate earnings, with notable shifts among blue chips and utilities.
An American Stock Exchange report cites S&P projections suggesting more than 1.7 million nonagricultural jobs could be added, signaling a larger gain than recent years but slower than the peak boom era. The final report notes uncertainty and potential inflationary effects, with policymakers watching unemployment trends closely.
A compendium of quoted figures and notes reflects shifts in unemployment and labor participation through 1966 to 1969. It cites Arthur M. Ross of the Bureau of Labor Statistics and discusses national unemployment rates, underemployment, and demographic contrasts, including nonwhite and youth rates, with references to December 1969 figures and prior year comparisons.
Washington report says Sen. Robert Byrd of West Virginia won the No 3 position as secretary of the Senate Democratic Conference. He defeated Sen. Joseph Clark of Pennsylvania, an outspoken liberal. Sen. Mike Mansfield was reaffirmed as Democratic leader with Sen. Russell B. Long as party whip. both were unopposed.
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