Chronicle
| Date | 01 March 1966 |
| DOI | http://doi.org/10.1111/j.1467-8543.1966.tb00938.x |
| Published date | 01 March 1966 |
| Author | Robert F. Banks |
Chronicle
May
-
August
1966
Deflationary measures, introduced as a result of
a
deterioration in Britain's
balance of payments and an international crisis
of
confidence in sterling early in
the summer, were the main influences on the climate of industrial relations during
the period. Nevertheless, unemployment declined significantly and the number
of persons out
of
work in Great Britain between April and July
1966
was sub-
stantially less than in the same months in
1965*.
Month Airmber unemployed
(000)
Per cent unemployed
1966 1965 1966 1965
April
307'5 341.2
1
'3
1
'5
May
280.3 307'0
1'2
1'3
June
261-1 276.1
1.1
1'2
July
264.2 280.6
1.1
1'2
Between April and July, weekly and hourly wage rates and earnings for all
workers in all industries and services rose less rapidly than in the previous four
months, but in comparison with the same months in
1965
there were marked
increases in pay. Normal weekly hours remained stable, but figures for the period
were substantially lower than in the previous year.
Indices of weekly and hourly wage rates and normal weekly hours
(31
January
1956
=
100)
Month IVeekly LVage Rates
Hourly
Wage Rates ,l'ormal Weekly
Hours
1966 1965 1966 1965 1966 1965
May
152.9 '45'3 167.8 155'9 91.1 93.2
June
153.6 145.8 168.7 156.7 91.1 93.1
July
'54'5 '47'' 169.7 158.9 91.0 92.5
April
152'9 144.8 167.8 155'0 9''' 93'4
Indices of weekly and monthly earnings (the average for
I
963
=
I
00)
Month Weekly paid employees Monthly paid emfiloyees All employees
1966 1965 1966 1965 1966 1965
April
122.2
111.6
I
13.7
107.2
120.6
I
10.7
May
122.6 116.1 114'4 108.6
121.2
114.8
July
123.5
I
15.5
I
15-2 109.6 121.9 114.4
Retail prices increased much more slowly than wage rates and earnings during
the period, but in comparison with the same months in
1965
the index of retail
prices rose by a little under
4
per cent.
Unfortunately .August totals were not available at the time
the
Chronicle went to press.
June
124.2
I
16.0
I
15.7 109.3 122.6 114.9
*
The
figures presented in this section are obtained from the Ministry
of
Labour surveys.
405
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