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    "label": "Fifth Draft, Wages and Prices Speech",
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    "title": "Fifth Draft, Wages and Prices Speech",
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            "logicalDate": "1945-10-01",
            "month": 10,
            "year": 1945
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    "seq": 11,
    "pageIndex": 0,
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    "ocrText": "214\nand\nFIFTH DRAFT\n- 11 -\nARCHIVES Ano\nREGORDS\nst\nthat the average hourly cost to the employer was not but $1.08.\nWhen\nthat man goes back to a 40-hour week, he gets no more overtime pay, and\ntherefore his average hourly earning drops down to $1.00. The employer,\ntherefore, has saved 8 cents on every hour's employment. He can therefore\neasily afford to increase the wage rate by 8 cents an hour wi thout any\nloss to himself.\nIn the second place, the increase in the number of people\nneeding jobs is resulting in a downward reclassification of workers in\nmany industries and in many sections of the country.\nThere is a third reason for believing that business can afford\nto pay wage increases -- namely, increasing output per hour of work, or\nwhat is generally called increasing productivity. The time will soon\ncome when improvements in machinery and manufacturing know-how developed\nin the war will result in more goods per hour and additional room for\nwage increases.\nI think I should point out also that, by and large, business is\nin an exceedingly favorable profit position today, with excellent\nprospects for the period that lies ahead. Again, I say, that is not\ntrue of all companies. Nevertheless, throughout industry, and in every\nbranch of industry, profits are very good indeed."
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