THE AREA REDEVELOPMENT BOOKSHELF OF COMMUNITY AIDS INVESTING IN JOBS U. S. DEPARTMENT OF COMMERCE Area Redevelopment Administration ■.'THEUNlVERSi. (U\ THE PENNSYLVANIA «TATfc UN.Vfch^. * * STATS COLLEGE, PENNSYLVANIA Digitized by the Internet Archive in 2012 with funding from LYRASIS Members and Sloan Foundation http://archive.org/details/investinginjobspOOunit 1 mm 1 ■■::# '' i; ''Mv' : - U. S. DEPARTMENT OF COMMERCE Luther H. Hodges, Secretary Area Redevelopment Administration William L. Batt, Jr., Administrator ARA PUB. NO. 62-B For sale by the Superintendent of Documents, U.S. Government Printing Office Washington 25, D.C. - Price 15 cents Foreword 1 Investment and Jobs 2 On the Average 3 In General 4 How to Use the Tables 5 Notes on Table 1 5 Notes on Table II 6 Sources and Limitations of Data 7 Table 1 9 Table II 18 *#ST*' FOREWORD The Area Redevelopment Act, which President Kennedy signed into law on May 1, 1961, provides some important new tools to augment the self-help efforts of areas suffering from chronic unemployment or underemployment . To stimulate economic growth and to help create new job opportunities in these areas, the Area Redevelopment Act provides: • Loans to new or expanding industries; • Loans and grants to communities for public facilities which are vital if new firms are to get started or existing ones are to expand; • Technical assistance to help find answers to long-standing economic problems; • Job retraining, including subsistence allowances, to equip the work force for jobs in new and expanding industries. Before a redevelopment area can take advantage of these Federal aids, however, it needs to know where it's going and how it plans to get there. It needs, for example, some basic information on the relationship between the dollars that are invested in various types of manufacturing and the number of direct new jobs that will result. This publication was planned to help local redevelopment groups and others concerned with economic development learn more about this ratio between investment and jobs. This is another in the Area Redevelopment Administration's " Bookshelf of Community Aids." It was prepared by John A. Flory with the assistance of Charles W. Slifko. The publications in this series are designed to provide basic economic information directly related to helping create new growth and new jobs. yOl/M^ / &*frr* William L. Batt, Jr., Administrator Area Redevelopment Administration INVESTMENT AND JOBS Anyone who has driven by a large petroleum refinery could guess that it takes a lot of equipment — but not many workers — to produce gasoline. By the same token, the clogged streets of the Manhattan garment district at quitting time show pretty clearly that it doesn't take much space or elaborate equipment to provide a lot of jobs for garment workers. Statistics confirm these impressions. In 1957, the petroleum refining industry had more than twenty times as much money invested in plant and equipment for each employed worker as did the apparel industry. Differences like this are obviously significant in area redevelopment work. The type of industrial enterprise which is started or expanded, and the amount of money invested in it, will largely determine the number and kinds of new jobs that will be created. This is not to suggest that the easy solution for an area of high unemploy- ment is to start a clothing factory, for many other factors — including the type of jobs that would be created, the wage scales that would result, and the permanence of the industry — have an important bearing on how a community solves its unemployment problem. This publication is a compilation of the best available figures bearing on the relationship between the investment outlays involved in various manufacturing ventures, and the number of persons that are employed. It shows, in general terms, how much money was required to set up a manufacturing plant in 1957, and how much additional money was required to get it into operation. Both measures are presented in terms of dollars per worker employed in each manufacturing industry covered. Since 1957, some machinery prices have gone up as improvements have been made in machinery. All industry-wide averages are, by definition, based on the total equipment in the industry, some of which is out of date and, if replaced, would be replaced at higher figures than those represented by original costs. For these and other reasons, it can safely be assumed that the average investment costs per worker in 1962 are somewhat higher than the 1957 data shown. Just how much higher the 1962 figures would be is impossible to estimate with precision. Rough estimates based on the limited data available indicate that these figures are probably about one-third higher on the average than in 1957. However, industry by industry variations are probably very great and estimates of the current figures in a particular industry must be made with caution. ON THE AVERAGE In 1957, manufacturing industries in the United States had a total of $203 billion invested in working assets, and employed 16,630,000 workers. This means the average investment was $12,200 per worker. Working assets include plant and equipment as well as current assets. It is, therefore, important to know how much of the total investment is accounted for by plant and equipment costs alone. For all manufacturing industries, the 1957 total investment in plant and equipment was $110.5 billion, or $6,644 per employee. For the lowest one-fourth of the 278 individual industries studied, plant and equipment costs per employee averaged less than $3,400 (the lowest was $344), while the top one-fourth averaged more than $7,630 (the highest was $49,375). In other words, half of all the manufacturing industries studied had invest- ments in plant and equipment between $3,400 and $7,630 per worker. IN GENERAL In 1957, the petroleum, chemical and primary non-ferrous metals indus- tries had very high investment requirements — in most cases over $20,000 of plant and equipment per worker. Iron and steel, concrete and other "heavy" industries had investment costs per worker ranging from $10,000 to $20,000. The fabricated metal products, machinery, food, rubber products, textiles and transportation equipment industries, with invest- ments ranging from $5,000 to $8,000 per worker, came close to the 1957 average for all manufacturing industries. At the lower end of the scale were such industries as furniture, apparel, and leather and leather goods, most of which had investment costs per worker of less than $5,000. These figures generally reflect the particular industry's technology. Industries which involve intricate assembly work and other skilled and semiskilled manual operations usually were characterized by low investment costs, while those industries which feature elaborate installations of com- plex equipment operated and maintained by more highly skilled workers were the ones with high investment costs. In other words, the high-investment industries generally provided better jobs, while the low-investment industries tended to provide more jobs. HOW TO USE THE TABLES There are two basic tables in this publication. Table I shows the investment costs for plant and equipment per worker in each of 278 individual manufacturing industries. Table II gives figures on total working assets per worker in the twenty major manufacturing industry groups, as well as data on rental payments. Both tables are preceded by a brief explanation of the sources of the figures. Because of the complexity^of these statistics, community groups should be aware both of their use and their limitations. Generally, the tables may be used to: (1) Compare the investment requirements per worker in one industry with similar data for another industry. (2) Pick out the high, low or medium capital-cost industries. (3) Get a rough idea of the number of jobs that may be expected to result from an investment in a new manufacturing plant, taking into account the increase in costs since 1957. The tables should not be used to : (1) Make a case for choosing a low-capital industry over a high-capital industry, since the ratio between investment and jobs is only one of many valid points to be raised, and many factors must go into decisions that will create per- manent new employment. (2) Determine with precision the number of jobs that would result from an investment of $100,000 in Industry A in your community. NOTES ON TABLE I This table gives a breakdown of twenty major industries (two-digit Standard Industrial Classification codes) and individual industries (four- digit codes) 1 giving 1957 gross book value of depreciable or depletable assets (plant and equipment) both as total and as an average per employee for each industry. 1 SIC codes refer to the breakdown of industry into major categories and several stages of subcategories, as defined by the Executive Office of the President, Bureau of the Budget, and as used by the Bureau of the Census. For example: Food and Kindred Products (Code 20), Dairy Products (Code 202), Ice Cream and Ices (Code 2024), etc. Codes used are those prior to the 1957 reclassification. Since the values stated represent only a part of the total investment per employee, rough estimates were also made for current assets (mainly cash, notes, accounts receivable and inventories) and land 2 for each of the major industry groups. The totals of all these values are used in this report to represent the "working assets" of the major industry groups, excluding corporate book values for investments, loans, intangible assets and "other assets." Table I lists these estimates of 1957 total "working assets" per employee for the major industry groups. Value of current assets and land were not available for use with the individual industry asset figures. It is probable that inclusion of these values would show significant variations between particular four-digit industries and the major industry group of which they are a part. This could be particularly true in the tobacco industry, for example, since current assets and land make up about 85 percent of the "working asset" total of the group. Thus, because only depreciable and depletable asset values are shown, care should be exercised in comparing one individual industry with another, especially when individual industries being com- pared are from separate major industry groups. NOTES ON TABLE II This table ranks the twenty major industry groups in order of their estimated book value of investment in "working assets" per employee in 1957. Subsidiary detail is given for gross book value of depreciable and depletable assets (total and per employee), "working assets" (total and per employee), and average total manufacturing employment. The differ- ence between the value of depreciable and depletable assets and that of total "working assets" is, as indicated earlier, comprised of estimated values for specified current assets (nearly 45 percent of all industry ' ' working assets") and land (less than 3 percent of the total). Since certain industries are heavier renters of assets than others, and since assets rented in one instance correspond to those owned in another Table II also provides a rough index of the extent to which rented assets supplant owned assets in each of the major industry groups. This index can be used to estimate more accurately the relative investment needs of 2 There is no published source for data on current assets and land as they appear in the tables. The basic data for these computed estimates came from Statistics on Income, 1957-58; Corpora- tion Income Tax Returns, U.S. Treasury Department, Internal Revenue Service; and an un- published Treasury Depreciation Survey Table, Diversity of Industrial Activity Within the Statistics of Income Groups in Terms of Gross Investment in Treasury Depreciation Survey Activities. the major industries. It was computed by dividing rental payments in 1957 by selected costs and expenses (maintenance and repair, insurance, taxes, depreciation and depletion) relating to owned assets. The apparel and related products group, which ranks first in ratio of rental assets, illustrates the extent to which this factor can influence the figures. Although it lists owned "working assets" per employee of only $4,600, the industry group's rental payments are equal to about 46.5 percent of its property costs and expenses and, since these costs and expenses are somewhat comparable to the costs of rent, an estimated additional invest- ment approaching 46.5 percent of that shown for plant and equipment would be required for all "working assets" of the group to be owned. Thus, total "working assets" per employee in the apparel and related products industry are probably closer to $5,000 than the $4,600 shown. By contrast, full ownership of "working assets" for <*// industry would require only an upward adjustment in plant and equipment values of less than 7-7 percent. SOURCES AND LIMITATIONS OF DATA The figures in these tables are based on data from : (1) Bureau of the Census estimates made from a sample survey of manufacturing establishments, and (2) A sampling made by the Internal Revenue Service of corporation income tax returns. The Census data was collected from manufacturing establishments (i.e. individual plants) while the Internal Revenue Service data came from the books of corporations whose activities center in manufacturing. The Census data consists of gross book value of depreciable or depletable assets outstanding on December 31, 1957; average employment (all employ- ees) in 1957; costs and expenses relating mainly to owned assets in 1957; and rental payments made in 1957. Data obtained from the Internal Revenue Service consists of specified current assets (except investments) and book value of land, plus a breakdown for each major industry group of depreciable and depletable asset sample totals by type of industrial activity. The latter breakdown was used to adjust current asset and land values reported on a. corporate basis to a more homogeneous form in order to com- bine them with the asset data gathered by Census on an establishment basis. The figures on gross book value of depreciable and depletable assets :i (mainly plant and equipment) are basic to both Table I and Table II. The values as stated were taken from the books of establishments at the end of 1957 and represent price levels at the time the assets were purchased — one, five, and possibly ten years earlier. Thus, the assets as they existed in 1957 were used assets on the average and probably could have been pur- chased in their 1957 condition at prices well below original cost. On the other hand, if the equivalent productive capacity of these assets were to be purchased today in the form of new assets, the cost would most likely be substantially higher. Moreover, the new, more expensive assets would, in most instances, be superior in capability to those existing in 1957 and therefore would require less labor per unit of output and still less per dollar of asset cost. The 1957 values, therefore, quite obviously understate today's cost of investment per employee. Nevertheless, a comparison of these 1957 values between industries is useful as an indication of relative cost — and the main purpose of this publication is to make possible such comparison. Current assets on the books of manufacturing corporations at the end of 1957 probably represent a fair value to include in per-employee investment costs, and one that may not have changed appreciably in the past five years. However, since the data was collected through a substantially different process from that used for depreciable and depletable assets, and since the source of data on current assets was corporate books rather than establish- ment accounts, the data is only roughly approximate. Value of land was computed in a manner similar to that of current assets, but is subject to some additional error because of its undeterminable purchase date. Never- theless, a number of adjustments have been made to bring the current asset and land values in line with the depreciable and depletable asset values. Therefore, the total of all these values, as given in Table I, should provide a very rough but useful aid to making cost-of-investment-per-employee comparisons among the twenty major industries. : * Published source: Supplementary employee costs, cost of maintenance and repair, insurance, rent, taxes, and depreciation and book value of depreciable assets: 1957, Subject Report MC5H(l)-9. U.S. Bureau of the Census. TABLE I INVESTMENT AND EMPLOYMENT RELATIONSHIPS IN MANUFACTURING INDUSTRIES: 1957 CODE INDUSTRY All industries 20 Food and kindred products 201 Meat products 2011 Meat packing 202 Dairy products 2024 Ice cream and ices 202 7 Fluid milk and other 203 Canned and frozen foods 203 3 Canned fruits and vegetables 204 Grain mill products 2041 Flour and meal 2042 Prepared animal feeds 2043 Cereals 205 Bakery products 2051 Bread and related products 2052 Biscuits and crackers 206 Sugar 2062 Cane refining * 207 Candy and related products Confectionery products 2071 2072 Chocolate and cocoa products 207 3 Chewing gum 208 Beverages 2081 Bottled soft drinks 2082 Beer and ale 2084 Wines and brandy 2085 Distilled liquor 209 Miscellaneous foods 2091 Xeavening compounds 2092 Shortening and cooking oils 2094 Corn wet milling 2099 Food preparations, n.e.c. 21 Tobacco manufactures 211 1 Cigarettes 2121 Cigars 2131 Chewing and smoking tobacco 22 Textile mill products 221 Woolen and worsted manufactures 22 13 Woolen and worsted fabrics 222 Yarn and thread mills 2223 Thread mills 2224 Yarn, cotton system 22^ Broadwoven fabrics 2233 Cotton 22 34 Synthetic 2241 Narrow fabrics 225 Knitting mills 2251 Full-fashioned hosiery Gross book value of depreci- able and depletable assets "Working 3 Value 1 Average 2 assets" per ($ millions) per employee employee 110,489.2 6,644 12,200 11,731.4 6,949 1 3,000 1,504.6 4,805 NA 1,168.3 5,5 51 NA 2,063.7 6,954 NA 383.0 10,826 NA 1,133.8 5,980 NA 1,144.7 5,366 NA 734.2 5,457 NA 1,017.0 9,471 NA 3 30.6 12,208 NA 484.0 8,263 NA 91.9 8,085 NA 1,268.6 4,176 NA 1,033.0 3,931 NA 235.3 5,749 NA 529.5 18,710 NA 182.7 11,860 NA 390.1 4,878 NA 271.7 4,060 NA 78.8 9,7 59 NA 39.7 7,927 NA 2,308.6 11,408 NA 740.9 7,769 NA 1,183.2 15,287 NA 59.6 9,7 5 3 NA 246.4 11,812 NA 1,504.5 10,500 NA 39.6 18,312 NA 241.8 24,912 NA 268.3 20,150 NA 426.0 5,347 NA 399.6 4,535 3 1 ,000 236.0 7,3 57 NA 51.1 1,547 NA 31.1 4,868 NA 4,983.6 5,039 9,300 493.6 5,679 NA 314.1 5,518 NA 595.7 5,796 NA 81.9 6,43 5 NA 465.7 5,964 NA 1,907.1 5,548 NA 1,460.1 5,459 NA 447.0 5,859 NA 86.1 3,209 NA 724.2 3,151 NA 224.2 4,608 NA TABLE 1 INVESTMENT AND EMPLOYMENT RELATIONSHIPS IN MANUFACTURING INDUSTRIES: 1957 CODE INDUSTRY 22 52 Seamless hosiery 22 53 Knit outerwear 22 54 Knit underwear 22 56 Knit fabric 2261 Finishing textiles, except wool 227 Carpets and rugs 2271 Wool 2273 Except wool 2274 Hardsusrfaced coverings 228 Hats, except cloth and millinery 229 Miscellaneous textile goods 2291 Felt goods, n .ex . 2294 Processed textile waste 2295 Coated fabrics, except rubber 2298 Cordage and twine 2299 Textile goods, n.ex . 2 3 Apparel and related products 231 Men's and boys' suits, coats 2311 Men's and boys* suits, coats 2 32 Men's and boys' furnishings 2 321 Men's shirts and nightwear 2 3 22 Men's and boys' underwear 2 323 Men's and boys* neckwear 2 327 Sep arate trousers 2 329 Men's and boys' clothing, n.ex, 233 Women's, misses' outerwear 2 331 Blouses 2 333 Dresses, unit-|»rice 2 334 Dresses, dozen-price 2 337 Suits, coats 234 Women's, misses' undergarments 2 341 Underwear 2 342 Corsets and allied 2 351 Millinery 236 Children's outerwear 2 361 Dresses 2 369 Outerwear, n.ex. 238 Miscellaneous apparel 2 384 Robes and dressing gowns 2 389 Belts 239 Fabricated textiles, n.e.c. 2 391 Curtains and draperies 2 392 House furnishings, n.ex . 2 393 Textile bags 2 399 Textile products, n.e.c . 24 Lumber and wood products 2411 Logging camps, contractors 242 Lumber and basic products 242 1 Sawmills and planing mills Gross book value of depreci- able and deplefable assets "Working 3 Value 1 Average 2 assets" per (S millions) per employee employee 189.9 2,807 NA 111.9 1,900 NA 69.9 2,227 NA 97.6 5,201 NA 491.9 6,310 NA 339.0 6,627 NA 166.5 6,073 NA 55.1 3,670 NA 117.4 13,443 NA 26.2 2,107 NA 319.9 5,585 NA 29.6 5,054 NA 25.7 4,286 NA 74.9 8,252 NA 64.2 5,495 NA 47.1 5,612 NA 1,005.8 796 4,600 89.3 699 NA 89.0 719 NA 205.1 681 NA 69.3 663 NA 9.6 844 NA 7.4 724 NA 33.9 646 NA 71.9 726 NA 198.3 524 NA 22.8 502 NA 52.2 344 NA 32.2 647 NA 65.7 652 NA 119.2 975 NA 66.2 827 NA 53.0 1,254 NA 10.9 477 NA 59.0 665 NA 19.0 584 NA 23.0 592 NA 56.5 854 NA 6.0 534 NA 9.6 729 NA 264.8 1,818 NA 10.5 694 NA 79.2 1,892 NA 37.9 3,476 NA 29.8 1,297 NA 2,917.5 4,518 7,400 513.4 6,480 NA 1,674.7 5,065 NA 1,570.1 5,060 NA 10 TABLE I INVESTMENT AND EMPLOYMENT RELATIONSHIPS IN MANUFACTURING INDUSTRIES: 1957 CODE INDUSTRY 243 Millwork and related products 2431 Millwork 2432 Plywood 2433 Prefabricated wood products 244 Wooden containers 2441 Fruit, vegetable baskets 2444 Boxes 249 Miscellaneous wood products 2491 Wood preserving 2493 Mirror and picture frames 2499 Wood products, n.e.c. 2 5 Furniture and fixtures 2 51 Household furniture 2 511 Wood furniture, not upholstered 2 512 Housefurniture, upholstered 2 514 Metal household furniture 2 515 Mattresses and bedsprings 2 52 Office furniture 2 521 Wood 2 522 Metal 2 53 Public and professional furniture 2 531 Public buildings furniture 2 541 Partitions and fixtures 26 Pulp, paper and products 261 Pulp, paper and board 2641 Paper coating and glazing 2661 Paper bags 267 Paperboard containers 2671 Boxes 2674 Fibercans, tubes, drums, etc . 269 Pulp, paper products, n.e.c. 2691 Die-cut paper and board 2699 Paper and board products, n.e.c. 27 Printing and publishing 2 711 Newspapers 2721 Periodicals 273 Books 2731 Printing and publishing 2732 Printing 2751 Commercial printing 2761 Lithographing 2 78 Bookbinding and related industries 2781 Bookbinding 279 Printing trade services 28 Chemicals and products 281 Inorganic chemicals 2811 Sulfuric acid 2812 Alkalies and chlorine 2819 Inorganic chemicals, n.e.c. Gross book value of depreci- able and depletable assets "Working 3 Value 1 Average 2 assets" per ($ millions) per employee employee 437.1 3,593 NA 188.9 2,736 NA 208.1 4,967 NA 40.1 3,745 NA 121.1 2,695 NA 9.8 1,424 NA 90.8 2,799 NA 206.9 2,984 NA 83.3 5,062 NA 6.2 1,139 NA 115.3 2,512 NA 1,040.9 2,777 6,000 693.4 2,598 NA 356.6 2,743 NA 117.1 1,759 NA 113.6 3,161 NA 103.4 3,159 NA 99.8 3,885 NA 19.5 3,389 NA 80.4 4,028 NA 72.2 3,052 NA 41.9 2,804 NA 100.4 2,870 NA 7,165.2 12,662 19,900 5,118.8 22,606 NA 227.2 7,425 NA 227.1 6,03 5 NA 880.0 5,626 NA 833.8 5,718 NA 46.2 4,365 NA 638.0 6,645 NA 72.9 5,326 NA 500.2 6,521 NA 3,697.6 4,262 8,200 1,405.4 4,553 NA 193.1 3,031 NA 253.2 4,137 NA 161.2 4,242 NA 92.0 3,965 NA 1,099.4 5,044 NA 411.7 4,934 NA 94.8 2,326 NA 38.6 1,986 NA 163.6 3,178 NA 13,105.0 17,155 2 5,000 2,404.2 20,508 NA 154.2 38,242 NA 768.9 35,880 NA 1,481.2 16,140 NA 11 TABLE I INVESTMENT AND EMPLOYMENT RELATIONSHIPS IN MANUFACTURING INDUSTRIES: 1957 CODE INDUSTRY 282 Organic chemicals 2822 Intermediate and original colors 282 3 Plastic materials 2824 Synthetic rubber 282 5 Synthetic fiber 2826 Explosives 2829 Organic chemicals, n.e.c . 283 Drugs and medicines 2834 Pharmaceutical preparations 284 Soap and related products 2841 Soap and glycerin 2842 Cleaning and polishing products 28 5 Paints and allied products 2851 Paints and varnishes 28 52 Inorganic color pigments 287 Fertilizers 2871 Fertilizers 2872 Fertilizers, mixing only 288 Vegetable and animal oils 2881 Cottonseed oil mills 2886 Grease and tallow 2887 Fatty acids 289 Chemical products, n.e.c. 2891 Printing ink 2893 Toilet preparations 2894 Glue and gelatin 2896 Compressed and liquified gases 2 899 Chemical products, n.e.c . 29 Petroleum and coal products 291 1 Petroleum refining 295 Paving and roofing material 299 Petroleum and coal products, n.e.c < 2992 Lubricants, n.e.c. 30 Rubber products 301 1 Tires and inner tubes 3021 Rubber footwear 3031 Reclaimed rubber 3099 Rubber industries, n.e.c* 3 1 Leather and leather goods 3111 Tanning and finishing 3131 Footwear cut stock 314 Footwear, excluding rubber 3141 Footwear, excluding rubber 3142 House slippers 3161 Luggage 317 Purses, small leather goods 3171 Handbags and purses 3172 Small goods 32 Stone, clay and glass Gross book value of depreri- able and depletobie assets "Working 3 Value 1 Average 2 assets" per ($ millions) per employee employee 6,420.6 24,580 NA 856.1 24,750 NA 1,076.6 20,465 NA 291.6 28,035 NA 1,457.3 22,405 NA 175.5 8,171 NA 2,527.7 33,459 NA 940.2 9,930 NA 699.7 8,869 NA 520.5 11,201 NA 348.8 13,954 NA 149.5 7,906 NA 668.3 8,992 NA 376.5 6,346 NA 287.2 21,540 NA 377.3 12,428 NA 280.6 15,133 NA 96.7 8,184 NA 636.5 16,805 NA 190.3 18,161 NA 95.0 7,729 NA 47.0 24,062 NA 965.3 10,267 NA 46.2 5,434 NA 136.3 4,773 NA 60.0 8,238 NA 248.1 24,208 NA 220.7 8,703 NA 7,936.5 42,770 56,000 7,599.8 49,375 NA 247.7 11,766 NA 89.0 8,405 NA 61.1 7,207 NA 1,782.4 6,858 14,000 900.7 9,296 NA 66.2 3,282 NA 38.7 14,100 NA 776.8 5,545 NA 466.8 1,290 4 ,400 162.3 4,048 NA 30.0 1,335 NA 194.2 826 NA 182.9 822 NA 11.3 892 NA 35.7 2,026 NA 19.8 655 NA 14.0 601 NA 5.9 833 NA 5,153.2 9,804 14,200 12 TABLE I INVESTMENT AND EMPLOYMENT RELATIONSHIPS IN MANUFACTURING INDUSTRIES: 1957 CODE INDUSTRY 3211 Flat glass 322 Pressed and blown glassware 3221 Glass containers 3229 Pressed and blown glass, n,e.c . 3231 Products of purchased glass 3241 Cement, hydraulic 32 5 Structural clay products 32 51 Brick and hollow tile 32 53 Floor and wall tile 32 54 Sewerpipe 32 5 5 Clay refractories 326 Pottery and related products 3261 Vitreous plumbing fixtures 3262 Vitreous-china food utensils 3 263 Earthenware food utensils 3264 Porcelain electrical supplies 3 2 7 Concrete and plaster products 3271 Concrete products 3272 Gypsum products 32 7 5 Mineral wool 3281 Cut-stone and stone products 329 Nonmetallic mineral products, n.e.c. 3291 Abrasive products 3292 Asbestos products 3293 Gaskets, asbestos insulations 3297 Nonclay refractories 3299 Nonmetallic mineral products, n.e.c, 33 Primary metal industries 331 Blast furnaces, steel mills 3312 Blast furnaces, steel mills 3 313 Electrometallurgic products 332 Iron and steel foundries 3321 Gray-iron foundries 3322 Malleable-iron foundries 3 32 3 Steel foundries 3 3 3 Primary nonferrous metals 3 331 Primary copper 3332 Primary lead 3333 Primary zinc 3334 Primary aluminum 3 341 Secondary nonferrous metals 335 Nonferrous rolling, drawing 3 351 Copper 3 3 52 Alumi num 3 3 59 Nonferrous, n.e.c , 3 361 Nonferrous foundries 339 Primary metal industries 3 391 Iron and steel forgings 3 392 Wire drawing Gross book value of depreci- able and depletafaie assets "Working 3 Value' Average 2 assets" per ($ millions) per employee employee 388.1 14,868 NA 606.4 6,030 NA 356.5 6,571 NA 249.9 5,396 NA 132.2 5,657 NA 1,414.6 34,035 NA 510.6 6,825 NA 206.2 6,528 NA 50.6 4,439 NA 66.3 6,672 NA 152.8 8,866 NA 220.3 4,372 NA 74.8 7,309 NA 24.2 3,017 NA 28.6 2,621 NA 55.2 5,786 NA 1,036.6 10,226 NA 496.9 7,112 NA 254.1 22,722 NA 146.4 12,188 NA 104.5 4,902 NA 739.8 8,594 NA 185.4 7,607 NA 183.3 8,012 NA 70.8 5,493 NA 145.9 13,614 NA 23.2 5,284 NA 17,328.6 13,624 18,500 11,909.3 18,835 NA 11,551.0 18,669 NA 358.3 23,128 NA 1,250.4 5,509 NA 724.9 5,328 NA 150.1 6,406 NA 37 5.4 5,563 NA 1,292.9 22,143 NA 195.5 12,990 NA 75.2 17,415 NA 163.6 14,830 NA 792.3 38,651 NA 113.4 6,608 NA 1,081.7 10,759 NA 401.3 9,430 NA 524.1 11,788 NA 156.3 11,559 NA 353.9 4,518 NA 1,326.9 8,383 NA 285.0 6,764 NA 549.3 9,144 NA 13 TABLE I INVESTMENT AND EMPLOYMENT RELATIONSHIPS IN MANUFACTURING INDUSTRIES: 1957 CODE INDUSTRY 3 393 Welded, heavy-riveted pipe 3 399 Primary metal, n.e.c. 34 Fabricated metal products 3411 Tin cans and tinware 342 1 Cutlery, tools and hardware 3 421 Cutlery 3 42 3 Hand tools, n.e.c. 3 424 Files 342 5 Handsaws and blades 3 429 Hardware, n.e.c. 343 J Heating and plumbing equipment 3 431 Plumbing fixtures, fittings 3439 Heating, cooking equipment, n.e.c 344 Structural metal products 3 441 Structural, ornamental work 3 443 . Boiler shop products 3 444 Sheet metal work 346 Metal stamping and coating 3 463 Metal stamping 3 471 Lighting fixtures 348 Fabricated wire products, n.e.c. 3 489 Wirework, n.e.c . 349 Metal products, n.e.c. 3 491 Barrels, drums, and pails 3 493 Steel springs 3494 Bolts, nuts, washers, rivets 3 495 Screw machine products 3496 Collapsible tubes 3497 Metal foil 3499 Fabricated products, n.e.c. 3 5 Machinery, except electrical 3 51 Engines and turbines 3 519 Internal combustion engines 3 52 Tractors, farm machinery 3 521 Tractors 3 5 22 Farm machinery, except tractors 3 53 Construction, mining machinery 3 5 31 Construction and mining machinery 3 5 32 Oil- field machinery, tools 354 Mtetalworking machinery 3 541 Machine tools 3 542 Metalworking machinery 3 545 Machinery attachments 355 Special-industry machinery, n.e.c. 35 51 Food products machinery 3 5 52 Textile machinery 35 54 Paper industries machinery 3 5 5 5 Printing trades machinery 35 59 Special-industry machinery, n.e.c. Gross book voj ue of deprea- able and depletable assets "Working 3 Value 1 Average 2 assets" per ($ millions) per employee employee 197.9 7,498 NA 294.7 9,931 NA 5,713.3 5,131 12,200 646.3 11,799 NA 722.4 4,927 NA 49.6 3,438 NA 105.6 4,397 NA 12.5 4,911 NA 38.2 6,164 NA 492.2 5,307 NA 564.4 5,605 NA 193.3 6,979 NA 371.1 5,083 NA 1,375.8 4,022 NA 556.7 4,056 NA 401.6 4,628 NA 183.9 3,539 NA 922.5 4,608 NA 749.3 5,603 NA 172.8 3,218 NA 275.8 4,2 37 NA 264.9 4,251 NA 1,033.3 6,872 NA 90.6 8,692 NA 84.8 9,226 NA 449.3 7,558 NA 207.6 5,362 NA 18.3 4,994 NA 74.1 11,796 NA 88.2 4,620 NA 9,421.1 5,517 12,900 529.7 5,899 NA 341.7 6,103 NA 1,001.8 6,751 NA 596.4 8,240 NA 405.4 5,333 NA 697.8 4,922 NA 453.4 4,545 NA 244.4 5,816 NA 1,620.4 5,680 NA 522.2 6,536 NA 374.0 6,126 NA 272.1 5,213 NA 937.5 5,245 NA 178.8 5,560 NA 203.4 5,232 NA 102.8 5,354 NA 112.2 4,846 NA 283.0 5,242 NA 14 TABLE I INVESTMENT AND EMPLOYMENT RELATIONSHIPS IN MANUFACTURING INDUSTRIES: 1957 CODE INDUSTRY 3 56 General industrial machinery 3 561 Pumps and compressors 3 563 Conveyors 3 565 Industrial trucks, tractors 3 566 Power transmission equipment 3 567 Industrial furnaces and ovens 3 569 General industrial machinery, n.e.c 3 57 Office and store machinery 3 571 Computing and related machinery 3 5 72 Typewriters 3 5 79 Office and store machinery, n.e.c. 3 58 Service and household machinery 3 581 Domestic laundry equipment 3 582 Laundry and dry-cleaning 3 583 Sewing machines 3 584 Vacuum cleaners 3 58 5 Refrigeration machinery 3 586 Measuring, dispensing pumps 3 589 Service and household, n.e.c. 3 59 Miscellaneous machinery parts 3 591 Valves, fittings, except plumbing 3 592 Fabricated pipe, fittings 3 593 Ball and roller bearings 3 599 Machine shops 36 Electrical machinery 361 Electrical industrial apparatus 3611 Wiring devices, supplies 3612 Carbon and graphite products 3614 Motors and generators 3615 Transformers 36 16 Control apparatus 3617 Welding apparatus 3619 Apparatus, n.e.c. 3621 Electrical appliances 3641 Engine electrical equipment 3651 Electric lamps (bulbs) 366 Communication equipment 3661 Radios and related products 3662 Electronic tubes 3663 Phonograph records 3664 Telephone, telegraph equipment 3669 Communication equipment, n.e.c. 369 Electrical products, n.e.c. 3691 Storage batteries 3692 Primary batteries 37 Transportation equipment 371 Motor vehicles and equipment 3713 Truck and bus bodies 3715 Truck trailers Gross book /alue of depreci- able and d spletable assets "Working 3 Value 1 Average 2 assets" per ($ millions; per employee employee 1,189.7 4,829 NA 300.5 4,838 NA 146.5 4,124 NA 67.2 3,736 NA 307.4 5,759 NA 42.7 4,121 NA 164.3 4,5 39 NA 8 36.0 6,428 NA 586.2 7,606 NA 87.5 3,63 7 NA 155.8 6,989 NA 1,034.0 5,4 56 NA 146.7 6,698 NA 47.2 6,723 NA 62.2 5,292 NA 37.0 5,305 NA 639.6 5,137 NA 2 7.9 4,088 NA 73.5 6,958 NA 1,574.1 5,291 NA 428.2 5,3 50 NA 63.4 4,436 NA 426.8 7,8 31 NA 583.5 4,618 NA 4,088.7 3,771 10,000 1,631.4 4,165 NA 2 16.7 4,361 NA 128.2 12,938 NA 5 12.6 4,371 NA 228.0 4,742 NA 293.2 3,205 NA 65.5 6,518 NA 71.7 3,170 NA 200.7 3,887 NA 195.3 3,8 39 NA 13 3.4 5,395 NA 1,595.7 3,150 NA 751.0 2,416 NA 3 33.9 3,912 NA 28.3 3,986 NA 455.2 4,954 NA 2 7.3 2,396 NA 200.7 5,124 NA 1 19.5 8,227 NA 27.2 3,379 NA 9,302.9 4,895 9,700 6,362.9 8,546 NA 68.0 3,3 3.5 NA 61.8 3,764 NA 15 TABLE I INVESTMENT AND EMPLOYMENT RELATIONSHIPS IN MANUFACTURING INDUSTRIES: 1957 CODE INDUSTRY Gross book value of depreci- able and depletabie assets Value' ($ millions) Average 2 per employee "Working 3 assets" per employee 3716 Automobile trailers 3717 Motor vehicles and parts 372 Aircraft and parts 3721 Aircraft 372 2 Aircraft engines 372 3 Aircraft propellers 3729 Aircraft equipment, a.ex . 373 Ships and boats 3731 Shipbuilding and repairing 3732 Boat building and repairing 374 Railroad equipment 3741 Locomotives and parts 3742 Railroad and stteet cars 38 Instruments and related products 3811 Scientific instruments 3821 Mechanical measuring instruments 384 Medical equipment and supplies 3842 Surgical appliances and supplies 3843 Dental equipment and supplies 3861 Photographic equipment 387 Watches and clocks 3871 Watches and clocks 39 Miscellaneous manufactures 391 Jewelry and silverware 3912 Jewelers' findings 3914 Silverware and plated ware 393 Musical instruments, parts 3931 Pianos 394 Toys and sportings goods 3941 Games and toys, n.e.c. 3942 Dolls 3949 Sporting and athletic goods 395 Office supplies 395 5 , Carbon paper and inked ribbons 396 Costume jewelry and notions 3961 Costume jewelry 3963 Buttons 3964 Needles, pins, fasteners 3971 Plastic products, n.e.c. *oq Miscellaneous manufactures 3983 Matches 3988 Morticians' goods 3998 Signs, advertising displays 3995 Umbrellas, parasols, canes 1 900 Ordnance and accessories 52.3 2,703 NA 6,180.7 8,979 NA 1,936.8 2,050 NA 760.2 1,368 NA 582.9 3,217 NA 88.7 5,049 NA 505.0 2,65 3 NA 502.7 3,487 NA 423.6 3,480 NA 79-1 3,528 NA 385.2 6,788 NA 149-2 7,177 NA 2 36.0 6,563 NA 1,262.9 4,1 1 1 11,100 121.6 2,065 NA 287.0 3,757 NA 158.4 3,741 NA 1 16.4 4,205 NA 24.7 3,629 NA 498.8 7,722 NA 91.4 3,714 NA 87.4 4,042 NA 1,986.5 2,987 6,900 1 13.8 2,496 NA 18.9 3,124 NA 64.3 4,186 NA 56.7 3,062 NA 22.5 3,3 33 NA 218.6 2,159 NA 96.9 2,221 NA 2 3.1 1,119 NA 74.7 2,440 NA 107.9 3,641 NA 21.8 3,901 NA 157.2 2,546 NA 29.8 1,228 NA 22.0 3,122 NA 97.3 4,816 NA 512.8 4,596 NA 819.4 1,232 NA 17.4 3,2 76 NA 39.7 2,320 NA 1 17.5 3,109 NA 3.3 95 5 NA 482.0 2,8 36 NA 16 Note: Values for unreported 4-digit industries are included in major industry groups (2-digit) totals. Abbreviations: n.e.c. — Not elsewhere classified. NA — Not available. 1 Source: 1957 Census of Manufactures Special Report MC58( 1 )-*), U.S. Depart- ment of Commerce, Bureau of the Census. (Based on value reported by estab- lishments. See text.) - Source for employment: Annual Survey of Manufactures, 1957, U.S. Bureau of the Census. (All employees.) 'Source: "Working assets" include those in Column 1, plus values for current assets and land reported to the Internal Revenue Service by corporations. (See text.) 17 C/5 C/i O O C C s.« p E. ' M ~^ O ft £~ a «< ^ o f^ fD So" ***** a CD n C ■» ft - s^ y c ft H ft fi n < rr ,0p 5' vo a I £Tn> -J_ 3 w « a a "-Ed h 3 ~»e I ^ 3S*5i 0.3 « ^ 3 3-' s^ « s &> sr 3 » £ ft p P*2 a £* o o^ p _ § "^ f- 5 . 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