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business
•
rev.ew

october 1970

FEDERAL RESERVE '
BANK 0F DALLAS

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

contents

W omanpower -

an important resource .. .. . . .

3

District highlights . .. . . . . . . . . .. . ........ .... 13

The notion that a woman's place is in
the home is no longer valid, at least for
many American families. Although most women are still full-time homemakers, technological
changes and shifts in social attitudes are increasingly allowing women to find employment
Outside the home. Where less than a third of
the female population was in the labor force
in 1947, more than two-fifths of the women
Were working or seeking work in 1969.
No longer merely a supplementary source of
labor to be called into service intermittently,
women now make up a large part of the nation's
labor resource. With science and technology
eliminating many of the domestic tasks previously performed by women, they have become freer not only to move into the labor
LUarket but also to seek out educational opportunities that ease entry into the market. Meanwhile, a steady breaking down of resistance to
women working - especially married women
and women in fields previously reserved for
Married women, particularly mothers,
account for most of the increase
in the female labor force
1968

PERCENT

40
_

1950

MARRIED

30
1968

MARRIED

-

20

DIVORCED

DIVORCED

~ WIDOWED OR WIDOWED

-

SINGLE

10

SINGLE

o

PERCENTAGE OF WOMEN
IN LABOR FORCE

SO URCE , Bur ea u o f Ih e CC tl !l U S. U 5

1950

NO
CHILDREN
UNDER 18
CHILDREN
UNDER 18

NO
CHILDREN
UNDER 18

CHILDREN
UNDER 18

PERCENTAGE OF MARRIED
WOMEN IN LABO R FORCE
O Cpa rll1l l' ll1 o f C0 l11111 0 l C O

men - has allowed them to make ever-greater
contributions to the nation's economic life outside the home.

Marital status
As the female labor force has expanded, its
composition has also changed . More older
women are returning to work after their families are grown, and with the mounting emphasis on education, more young women are entering technical and professional employment. But
perhaps most significant has been the increased
labor force participation of married women.
Where 41 percent of the women working in
1947 were married (with husbands present),
by 1969 the proportion had risen to 59 percent
- a shift broad enough to account for most of
the increase in the female labor force overall.
Much of this change has doubtlessly been
due to the many postwar improvements in consumer goods and the growing availability of
consumer services, many of which make it
easier for women to combine careers as homemakers and wage earners. Home appliances
and easy-care fabrics have dramatically shortened the hours needed to care for a family, as
has the introduction, for example, of frozen
foods - many of them whole meals that can
be fixed in a very short time. Working women
can even pick up prepared meals at franchised
chains on the way home from work. Mothers of
small children have the use of established babysitting services, day-care centers, and even disposable diapers, all of which make it easier for
them to stay in the labor force.
While postwar growth of the female labor
force can be attributed mainly to the increased
participation of married women, the profile of
the typical working woman has been changed
most by the rapid increase in working mothers.

business review/october 1970

3

Where f~male employment increased over 60
percent between 1950 and 1968, the employment of mothers with children under 18 increased 2.6 times.
Participation of married women in the labor
force appears to have a direct correlation with
the earnings of their husbands. The Bureau of
Labor Statistics conducted a study in 1967 to
find relationships between the labor force participation of wives and incomes of their husbands. It was found that women were most apt
to work when their husbands earned between
$5,000 and $7,000 a year - figures representing the lower range of the middle incomes.
Although participation of married women
was not, as many might have expected, highest
among families with the lowest incomes, participation by women with small children (those
under six) rose sharply at low-income levels,
Mothers of small children
have lowest participation rate,
except where husband's income lowest
I L obor IO l cc participation r a t es 0 1 wive s, by pre se nce and age
0 1 chi l dr e n . M arc h 1967 )
PERC ENT

GO
CHILDREN 6 THROUGH 17

40

indicating economic necessity as a primarY
consideration of mothers seeking employment.
The bureau found that women with preschool
children participated least in the labor force,
regardless of family income, but their participation rate was higher among women with huSbands earning less than $7,000 a year. Participation by mothers with school-age children (six
to 18 years old) was also highest at low-income
levels.

Age distribution
Older women are finding it easier to return to
work after their families are grown. With leSS
time needed to keep house, women past 45
often take paying jobs, either in pursuit of more
active lives or to supplement family incomeS.
The number of working women age 45 to 54
more than tripled between 1940 and 1968, and
the number between ages 55 and 64 increased
more than fourfold.
The increasing life expectancy of women
makes it possible for them to work for many
years after their families are grown. For some
women, employment is necessary to mainta~
an adequate standard of living during their
later years.
Discrimination in hiring on the basis of age
is now prohibited by Federal law. This prohibition, which specifically bars discriminatioJl
against workers 40 to 65 years old, is especiallY
important to working women since the rate of
female participation in the labor force begins
to rise significantly after age 35.

Geographic distribution
20

o

1 1. 000
TO

1 1. 999

12. 000
TO

12.999

13. 000
TO

$4.999

15.000
TO

16 .99 9

S7 .000
TO

19 .999

HUSBANO ' S IN COME

SOURCE : W orn e n 's Bureau. U. S. D epa rtm e nt o f L a b o r .

1 10 .000
ANO
OVER

The geographic distribution of women as a
percentage of the labor force is highly uneyen ,
with the heaviest concentrations in urban areas;
particularly the northeastern and north-centr~
states. There was a slight shift to the South an 0
West, however, between the censuses of 195 d
and 1960. Much of this shift, which fay.or ed
Texas and California especially, was aSSOCiate

accounted for 33 percent of the state's labor
force in 1960, compared with 27 percent in
1950 and 23 percent in 1940.

Mature women enter the labor force
in increasing numbers
AG E OF WOMEN

16 · 17

18 - 19

20 · 24

25 -3 4

35- 44

45 · 54

55 - 64

65 AND OVER

1940

I
I
I
I

I

Occupational distribution
1968

As urban areas have been important to
women as centers of employment, so have the
industries located mainly in urban areas. Over
19 percent of the female labor force in 1968
was employed in services, and 19 percent was
in manufacturing. Government employed 18
percent, and retail trade 16 percent.

I
I
I

B
20

0
PE RCE NT

40

or ACE

60

Although manufacturing provides a major
source of employment for women, the importance of women to manufacturing increased
only slightly between 1960 and 1968, leaving
women still accounting for little more than a
fourth of the total number of manufacturing
employees. By contrast, more than half the
workers in service industries and in finance,
insurance, and real estate were women. And
more than two-fifths of the employees in retail
trade and government were women.

GROUP IN LABOR FOR CE

SOUR CE. WOlll un's Bu r ea u. U. S. Oc p a n mcn l o f l a ll or.

Between 1964 and 1968, the most rapid expansion in women's employment was in state

With general patterns of migration and industrial growth in the South and West.
Women typically accounted for far larger
percentages of the total work forces in urban
areas than rural areas in 1960, making up 44
percent of the labor ' force in the District of
Columbia and 34 percent in New York but
Only 27 percent in North Dakota and 24 perCent in Alaska. As demand for clerical and serVice workers increased throughout the 1960's,
~he tendency for women workers to concentrate
In urban areas doubtlessly continued.
There were marked changes in the importance of women in .the labor force in Texas.
'the state had over a million women workers in
1960, or nearly half again more than in 1950
and more than twice as many as in 1940. With
this rise in the number of women workers, they

EMPLOYMENT OF WOMEN WORKERS
IN SELECTED INDUSTRIES, 1968
(Annual averages)
Percent of
Industry Female
workers labor force

Industry
group

Number
(Thousands)

Manufacturing ........
Durable goods .. ... ..
Nondurable goods . , , •

5,476
2,325
3,151

Mining . ... . ... . ..... .
Contract construction , . '

37

6

155

5

Transportation and
public utilities ... , , , •

866

20

. , .....

827

23

3

Retail trade ...........
Finance, insurance,
and real estate " " ",
Services ... . .. . . , .... .
Government . , , , ' , , , . . ,

4,677

45

16

......... , ...

Wholesale trade

Total

28 %
20
39

19 %
8
11
(1 )

3

1,704

51

6

5,608

53

19

5,158

42

18

24,507

36

85

Less than one·half of 1 percent.
SOURCE: Bureau of Labor Statistics.

1

business review/october 1970

5

and local government. Of the various levels of
government, local government was the biggest
employer of women. This was because of the
importance of women to teaching. Three out
of four employees of local government were in
education. State governments employed more
than a million women in 1968, and two out of
five of them were also in education .
There were increases in all areas of retail
and wholesale trade, finance, insurance, and
real estate. Other industrial groups, such as
mining, transportation, and public utilities,
continued to employ very few women. Only in
air transportation was there any significant
growth in female employment between 1960
and 1968.
Associated with changes in the industrial
makeup of female employment have come
changes in the types of positions women fill.
W omen wo r kers tend to concentrate
in clc l'ical and service jobs
FEMALE

MAL E

CRAFTS ME N. FOR EMEN

II

.,

NON FARM LA BOR ERS

II " ,

,

FAR M WO RKE RS

,

MANA GERS . OFF ICIALS. PROPRI ETORS

I I

,.

OP ERATIV ES

PROFESSIONAL . TECHNI CAL WORKERS

'

I

I

SAL ES WOR KER S

OTHER SE RVICE WORKER S

I

I

CL ERIC AL WOR KE RS

I

I

PR IVATE HOUS EH OLD WORK ERS

II

100

50

o

50

PER CENT OF TOTAL MAR CH 1969 EMPLO YM ENT IN GROUP

SOUR C E: Bur ea u 0 1 the Ce ns u s . U 5 De par t m e nt

6

0 Co m mer c e ,
'

100

Automation has reduced the need for assemblyline workers, for example, but increased the demand for technical and clerical workers. The
computer has created many jobs for women in
data processing and programming that did not
exist only a few years ago. With the increase in
affluence, demand for services has also increased - at both public and private levelscreating still more jobs for women and at an
increasing rate.
Overall, however, employment of women
still tends to be concentrated in only a few occUpations. Clerical work still heads the list, providing one out of three jobs for women. And
with the growth of paper work in business and
industry, the proportion has been rising.
Service occupations account for the second
largest group of employed women. Bolstered by
the rapid growth of service industries, the percentage of women in this occupational groUP
has also expanded. More than 16 percent of
employed women were in services (except private household work) in March 1969, compared with 12 percent in 1950.
While manufacturing has provided a groWing number of jobs for women as operatives
(more than 4.3 million in 1969), with the increase in automation, the relative importance
of manufacturing as a source of employment
for women as operatives has been declining
since 1950. Where manufacturing provided e~
ployment as operatives for 19 percent of d
women workers in 1950, the proportion ba
dropped to about 15 percent in 1969.
In contrast to 1950, when one out o~ te~
employed women was engaged in professlona
or technical work, the ratio in 1969 was one
out of seven. Teaching continued the most popular profession, with 42 percent of all professional women teaching in either elementary o~
secondary schools. Much of the popularity 0
cateaching could be due to the hours and va
tions and, especially, the availability of emplOY-

with the faster increase in advanced degrees, an
expanding reservoir of women with specialized
training, as a percentage of total degrees
awarded the gains are not so impressive.
Except for the early postwar years, when student bodies were stretched by returning servicemen, the percentage of college degrees going
to women has held fairly steady since 1930 and
the percentage of advanced degrees has declined. Where women earned 40 percent of the
bachelor's degrees awarded in 1930, they
earned 42 percent in 1968. But this slight percentage gain was offset by shrinkage in the
share of graduate degrees. Where women
earned 40 percent of the master's degrees ir
1930, they earned 36 percent in 1968. Their
share of doctorates slipped from 15 percent
to 13 percent.

lUent in all localities. All these considerations
are important to working women with families
to raise.

Since teaching is the largest single professional occupation for women, it is not surprising that the largest proportion of degrees
earned by women is in education (40 percent
in 1966-67). Next in importance as areas of

Education and training
Education continues to be a major factor in
the composition of the female labor force .
There appears, in fact, to be a direct relationship between the education of women and their
participation in the labor force. Not only do
Illore jobs require educated workers but there
are more educated women and they are typically more active in seeking employment than
other women. In March 1968, for example, 71
percent of the women that had completed at
least five years of college were in the labor
force, compared with 31 percent of the women
With eighth-grade ~ducations.
The number of bachelor's degrees awarded
to women has more than doubled since 1950,
while the number ' of master's degrees has triPled and the number of doctor's degrees has
quadrupled. But while these changes signify an
eXpanding population of educated women and,

More women receiving college degree
THOUSANOS

300

250

~------------------------------~

BACHELOR'S AND

O PROFESSIONAL DEGREES
I8iI GRADUATE DEGREES

200

150

100

50

o
1930

1940

1950

1960

1968

SOURCE : Wom en's Bur ea u . U. S. D e partm e nt o f L abo r .

business review/october 1970

7

concentration are humanities (23 percent) and
social sciences (15 percent).

typically as low as those of their male counterparts.

As with men, the amount of education a
woman completes has a direct bearing on the
type of job she can obtain. In 1968, nearly half
the working women that had attended college
were employed in technical and professional
occupations. By contrast, of those with no education beyond the elementary school level,
more than three-fourths worked as operatives
or service workers.

In March 1968, for example, unemployment
rates (for workers 18 years old and over) were
running 3.4 percent for all workers and 4.2
percent for all women. The rate for women
with at least some college, however, was only
2.3 percent, while the rate for women with only
some secondary education was 6.6 percentnearly three times the rate for college women.
For women that had completed high school,
the rate was 3.8 percent, which was close to
the national average. But for those with college
educations, the rate was only 1.6 percent.

Even among the women that had attended
college, there were wide variations in occupations according to the number of years completed. Of the women that had completed at
least five years of college, 91 percent worked
in professional and technical capacities, compared with 30 percent that had completed less
than four years of college.

Unemployment rates
Despite the gains made by women, the average annual rate of unemployment has been
higher for them than for men almost every year
since 1940. The only exception was 1958, a
recession year when the two rates were the
same. The gap has often been wide, especially
during periods of economic expansion, when
more women enter the labor force. In 1967, a
year of high employment, the rates differed
more than 2 percentage points.
This difference results partly from the close
relationship between education and employment that affects both male and female workers. Since women with limited educations are
more likely than men or other women to be
employed part time and since part-time workers typically have high unemployment rates,
unemployment is predictably high among
women with little education. Women with college educations, on the other hand, being ordinarily employed full time, have far greater job
stability, especially those in technical and professional fields. Their unemployment rates are

8

One reason for the difference in unemploYment rates for men and women is apparently
the tendency for women to enter the job market
Unemployment almost always higher
for women than for men,
but especially in boom years
PERCENT OF LABOR FORCE

4

2

o
1947

1950

1955

1960

1965

NOTE .- Sh a d c d ar cas s h o w re cess i o n s a s d a t e d b y th e
Bur ea u o f E co n o mi c R esearc h .
SOURCE : U . S. D e partm e nt o f L a ho r .

N ll ti O Il Il '

Unemployment of women declines
with rise in educational levels
I Un c mpl o ym c nl r a t es of wOlll e n worker s, by e du c ational g roup .

Mor e h 196B )
PERC EN T

8

o
H I GH
SCHOOL .
4 VEAR S

COLLEGE . COLLEGE .
1 YEAR
4 VEARS
OR MORE

SOURCE : Wom e n 's Bur e au . U , S. Department of L"b o r

When employment is high and to leave it when
conditions are reversed. This is borne out in
a Bureau of Labor Statistics study showing that
LUost of the unemployment among women results from either their having quit their jobs or
their having just reentered the labor force. By
Contrast, during periods of contraction, most of
the unemployment among men results from
their having lost their jobs.

skilled work, they tend to be less well paid than
men in the same field.
But even in the same occupational groups,
women usually hold lower-ranking positions
than men. Among clerical workers - a group
in which women far outnumber men - they
are most apt to be typists or office workers of
comparable skill and responsibility while the
higher-paying, decision-making positions are
more often held by men. Among college and
university teachers, women are much less likely
than men to be professors or even associate
professors.
Since pay is essentially a function of the
worker's qualifications and contribution to an
organization, workers in lower-ranking positions can be expected to receive lower pay.
But women tend not only to hold lower-ranking
positions but also to receive lower pay in comparable positions. In 1968, women scientists,
for example, earned from $1,700 to $4,500 less
than men, the extent of the difference varying
with the science. Wages paid to women office
workers ill 1968 were typically $15 to $30 a
week less than wages paid men in the same job
classifications. Among college professors, the
median salary paid women in 1966 was over
$1,000 less than that for men.

Income and earnings
Wage and salary compensation for full-time,
year-round workers averages higher for men
than for women, and Department of Labor
figures show the gap widening. Where the median annual pay of women workers was a little
oVer $2,700 in 1955, it was well over $4,200
for men- a diffetence of 56 percent. But in
1968, when the median pay to women had
cliLUbed to almost $4,500, the median for men
had moved up to more than $7,600 - a spread
of 72 percent.
Occupational differences account for most of
t~e difference in earnings. Women are more
hkely than men to be white-collar workers, for
eXaLUple, and being usually hired for less-

Gap between median earnings
of men and women widening
TlIOUSANDS OF DOLLARS

o

~~~~~~~~~~-L~_L-~-L~

1955

1960

1965

1968

SOURCE : W om e n' s But e au . U . S. D e pa r tm e nt o f Lab o r .

business review/october 1970

9

Also tending to limit the earnings of women
are the many laws regulating their employment.
Since premium rates are ordinarily paid for
overtime work and risky jobs, elimination of
these jobs from the female labor market tends
to lower average wages to women. Eighteen
states regulate (or prohibit) employment of
women in certain industries and during certain
hours. Forty-one states and the District of
Columbia have regulations regarding the hours
women can work. And 26 states prohibit employment of women under conditions that "are
considered hazardous or injurious to health.
These laws, intended to protect women from
hard labor, long hours, and possibly dangeroUS
work, also limit their ability to obtain highpaying employment in many areas.

Other explanations have also been given for
the differences in compensation for men and
women. One of the most important has been
that many women start work without advanced
training, with the result that their progress is
blocked off. This has no doubt been a problem.
Compared with other women, those with technical and professional qualifications receive
salaries that more closely approximate those of
their male counterparts.
Another reason often given for the difference
is the broken work pattern of many women,
resulting from interruptions in their careers
during child-rearing years. When they return
to work, many have lost seniority and experience. Many women, trying to divide their attention between home and careers, seek only
part-time work. Others still devote their main
attention to their families, even though they
have taken full-time employment outside the
home. In the case of women in technical and
professional fields, new developments may have
placed them too far behind their colleagues to
ever catch up.

10

All these factors - occupational differences, general levels of education and training,
intermittent work patterns, and the tendency to
protect women - combine to help keep the
pay of women below that of men. It seems
difficult, however, to justify all the difference
in income on the basis of these factors. Apparently, some employers just prefer men to
equally qualified women and, despite sotTle
softening in social attitudes, are still willing to
pay more for them.
Growth in the gap between earnings of men
and women reflects the much greater upward
mobility of men. Women are earning more, but
their earnings are not increasing as fast as those
of men. Where 1.6 percent of the men in the
labor force earned at least $10,000 in 1947,
the proportion had increased more than tenfold
20 years later. But where 0.3 percent of the
working women earned at least $10,000 in
1947, the proportion had increased only siX
times by 1967.

Future trends
All estimates seem to indicate continuing
strong demand for workers, especially for thOse
with high levels of education and high degrees

of skill. And as the economy grows and continued greater efforts are made for the full utilization of human resources, the number of
women in the labor force will undoubtedly
increase.
The Department of Labor has projected a
labor force of nearly 100 million by 1980, with
women making up 36 percent 0f the total, compared with 32 percent in 1960. The number of
women workers at least 45 years old is expected to increase even faster.
Education is almost certain to become even
more important in the determination of the size
and composition of the labor force, and experience has shown that with increased education,
the labor force participation of women increases, regardless of income level or marital
status. As job opportunities increase in fields
requiring higher education and more women
seek higher educations, women can be expected
to enter the labor force in growing numbers.
With women filling about 70 percent of the
elementary and secondary teaching positions
and more women in teacher training than any
other college program, the outlook for emPloyment of teachers is crucial to projections
of the female labor force. Where a teacher
shortage seemed to threaten a decade ago, there
is now the possibility of an oversupply.

The Department of Labor e.stimates that by
1980 the number of applicants for secondary
school positions could outnumber vacancies by
75 percent. The expected trend is even more
pronounced in elementary education, where
there may be two teachers for every vacancy.
If the rising number of college-educated women
cannot be used in teaching, talents of many of
them will have to be channeled into other fields.
Women have tended to seek employment in
only a few occupations, leaving many fields to
men, probably because of the widespread view
that some lines of work were appropriate only
for men. Occupations such as teaching (which
relates to the young) and those connected with
health and social services (which also relate to
the care of others) were once considered more
appropriate for women tllan some of the men's
fields, such as law, engineering, and medicine.
Even those in occupations considered appropriate for women were expected to retire to
housekeeping when they married, for not only
was housekeeping a full-time job but there was
a stigma against men whose wives had to work
for a living.
Much of tllis has changed. Today, many
women work to provide their families with
extra luxuries by supplementing their husbands'
incomes. Also, with the modern conveniences
available to them, many wives and mothers,

~
,i

business review/october 1970

11

esp~ciall>,

those with training and talent, find
outside work more personally rewarding than
housework.
But while many of the attitudes restricting
female employment have broken down, many
women interested in pursuing "masculine" occupations still have to overcome the resist~nce
of employers who, seeing women only as temporary workers, have a decided preference for
male employees. The result is the seemingly
general hesitation of women to undertake college preparation for occupations dominated by
men, even though some of the fastest employment growth is in these occup'ations.
There were 41 million women (16 years old
'and over) not in the labor force last year-

new
par
banl~

which means that women accounted for threefourths of the people that neither worked no f
sought work. This represents a considerable
pool of untapped talent, especially since many
of these women were skiJIed and educated.
The occupational struct\1re of the labor force
is certain to continue changing. As technology
advances, white-collar jobs and service occupations become more important and blue-collar
jobs and farm work decline as a proportion of
total employment. Since these trends relate to
growing demand for workers in jobs typically
held by women, they seem to underscore continued growth in the importance of women in
the labor force.
CARLA

M. WARB ERG

The Almeda-Genoa Bank, Houston, Texas, an insured nonmember bank
located in the territory served by the Houston Branch of the Federal Reserve
Bank of Dallas, was added to the Par List on its opening date, September 17,
1970. The officers are: J. O. Kirk, President; Nolan Bedford, Executive Vice
President; and Albert Daigle, Cashier.

------------------------------------------------------------------------~~
12

District highlights
The change in total nonagricultural wage
and salary employment in the five southwestern
states from July to August was in line with
seasonal expectations. Total employment declined 0.1 percent to 6,365,000. All the decline
Was in manufacturing. Nonmanufacturing employment was unchanged as small, offsetting
changes were registered by its components.
Compared with a year earlier, total employl11ent was up only 1.5 percent in August. This
sl11all change resulted from a 3.8-percent decline in manufacturing payrolls and a 2.8percent increase in nonmanufacturing payrolls.
Within nonmanufacturing, employment fell in
both mining and construction but rose in all
other sectors.

portation facilities) to reach that volume. Producers will not make this investment unless they
are reasonably sure the additional capacity will
be used in the future.
A change in Libyan oil policy or repair of
the oil pipeline through Syria could alleviate
the current international oil pinch. One important producer has apparently reached a settlement with the Libyan government on a dispute over prices. This may mark the beginning
of a turnabout in the strained relations between
Libya and foreign oil producers in that country.
In the meantime, however, fresh turmoil in the
Middle East poses a danger of further production shutdowns. The Middle East and North
Africa have an estimated three-fourths of the
free world's oil reserves.

The oil regulatory agencies in Louisiana and
Texas have pushed October oil allowables in
their states to new highs of 68 percent and 87
percent of maximum permitted production, reSpectively. Both actions were taken in response
to the high level of demand for domestic crude,
as a shortage of tankers to transport foreign oil
Continued to keep prices of petroleum imports
high. Producers in Texas and Louisiana are
USually called on to make most of the adjustnlents required to meet the nation's petroleum
needs. These states contain about 60 percent
of the nation's crude reserves.

The seasonally adjusted Texas industrial production index rose substantially in August as
a result of a sharp boost in petroleum activity.
The index increased to 179.3 percent of the
1957-59 base from a revised 175.3 for JUly.
Production of crude petroleum, which accounts
for nearly 30 percent of the index, was up almost 10 percent. Manufacturing output rose
slightly, reflecting a moderate increase in nondurables. This increase more than offset a small
decline in durables. Output of utilities remained
unchanged.

Although new record allowables have been
Set, increased production is expected to be reSt:icted by conservation problems associated
With the waste of natural gas produced with oil
and the disposal of oil field brines. Moreover,
even where oil fields are capable of producing
i\ higher volume of output at these higher allowi\bles without damage to the fields, producers
I1light have to invest in increased flow capacity
(additional wells and processing and trans-

Compared with a year earlier, the index was
up 2.3 percent. As with the month-to-month
change, the higher level of oil production was
the dominant factor in the increase over last
year. Crude oil production was up more than
10 percent, and utilities were up 2.4 percent.
Manufacturing was off slightly, but all the decline was in durables - mainly electrical machinery and transportation equipment. Output
of nondurables was nearly 6 percent higher

business review/october 1970

13

than a year before, with the increase centered
in petroleum refining and chemical products.
Cotton production in states of the Eleventh
District has been estimated at 4,968,000 bales.
This estimate, based on conditions September 1,
represents a gain of 13 percent over the 1969
crop. It is 5 percent less than the crop produced
in 1968, however.
In Texas, cotton production was expected to
total 3,468,000 bales. Although 21 percent
greater than in 1969, this crop would be slightly
less than in 1968. Yield of upland cotton is
expected to average 330 pounds per acre, compared with 292 pounds last year.
The harvest of grain sorghum in these five
states is expected to total 393 million bushels
- 7 percent more than last year. Production of
rice is expected to total 44 million pounds3 percent more than in 1969.
Ranges and pastures are in fair to good condition over most of the District. In Texas, there
were more than 1.4 million head of cattle and
calves on feed September 1 - 7 percent more
than a year before. August placements in Texas
totaled 256,000 head - 7 percent fewer than
in August last year. In Arizona, there were 6
percent fewer head on feed than a year before.
The total number of head on feed in the six
largest cattle feeding states was up 4 percent
over a year earlier.
The prices Texas farmers and ranchers received for their products was up 3 percent in
mid-August over prices received both a month
and a year before. The all-crops price index
was 11 percent higher than in July and 10 percent higher than in August last year. The price
index for livestock and livestock products was
3 percent less than in July and 2 percent less
than in August 1969.
Cash receipts from farm marketings in the
five District states were 2 percent higher in the
first seven months of this year than in the same

14

period last year. Livestock receipts were 8 percent higher, but receipts from crop marketings
were 9 percent lower.
Registrations of new passenger automobiles
in Dallas, Fort Worth, Houston, and San Antonio were 19 percent lower in August than in
July. Decreases ranged from 12 percent in Dallas to 26 percent in Houston. Registrations in
all four cities were 5 percent lower than in
August 1969, and cumulative registrations
through August trailed registrations for the
same period last year by 6 percent.
Department store sales in the Eleventh DiStrict were 4 percent lower in the four weekS
ended September 19 than in the corresponding
period last year. Cumulative sales through that
date were 2 percent higher than a year earlier.
Banking activities in the Eleventh District in
August and the first two statement weeks of
September were highlighted by a marked increase in deposit inflows and a significant rise
in total bank credit. These gains were in sharp
contrast to declines during the corresponding
period last year.
Primarily reflecting increases in busineSS
loans and loans for purchasing or carrying securities, the rise in loans adjusted amounted to
$39 million. Loans to financial institutions
other tllan banks dropped $25 million, while
consumer instalment loans and real estate loanS
registered modest gains.
With the increased availability of funds,
weekly reporting banks in the District also e~­
larged their investment portfolios by $106 )l1J1lion. Although the banks purchased moderate
amounts of Treasury bills, most of the increas~
in bank investments represented acquisitionS a
long-term, attractively priced municipal issueS.
Total bank deposits expanded $469 rnil]jOJ'l1
which contrasted sharply with a decline of $2
million for the year-earlier period . More than

three-fourths of the increase reflected the
greater inflow of time and savings deposits,
which resulted mainly from further sales of
large negotiable certificates of deposit to indi-

viduals and businesses. With this expansion in
deposits, the banks further reduced their borrowings from nondeposit sources, particularly
the commercial paper market.

ELEVENTH FEDERAL RESERVE DISTRICT

DALLAS HEAD OFFICE TERRITORY
HOUSTON BRANCH TERRITORY
SAN ANTONIO BRANCH TERRITORY
ELPASOBRANCHTERRITORY

business review/october 1970

15

STATISTICAL SUPPLEMENT
to the

BUSINESS REVIEW

October 1970

FEDERAL RESERVE BANK
OF DALLAS

RESERVE POSITIONS OF MEMBER BANKS

CONDITION STATISTICS OF WEEKLY REPORTING COMMERCIAL BANKS

Eleventh Federal Reserve District

Eleventh Federal Reserve District
(In thousands of dollars)

Item

Se pt. 23,
1970

(Averages of doily flgures. In thou sand s of dollars )
Aug. 26,
1970

Se pt. 24,
1969

ASSETS

=

5 weeks en d e d
Aug . 5,1970

4 weeks ended

Se pt. 2, 1970
757,363
700,022
57,341
778,310
-20,947
13,157
-34,104

754,910
70 1,396
53,514
758,488
-3,578
88,192
-9 1,770

728,693
677,185
51,508
731,203
_2,5 10
22,180
_24 ,690

794,567
605,534
189,033
773,478
21,089
8,395
12,694

774,984
591,290
183,694
757,488
17,496
10,307
7, 189

773,512
593,228
180,284
744,742
28,770
32,130
_3,360

1,55 1,930
1,305,556
246 ,374
1,55 1,788
142
21,552
-2 1,410

1,529,894
1,292,686
237,208
1,515,976
13,918
98,499
-84,581

1,502,205
1,270,413
23 1,792
1 475,9 45
' 26,260
54,310
_28,050

4 weeks e nd e d

Ite m

Sept . 3,1~

RESERVE CITY BANKS
Total reserves he ld •• . •.... • ..•

With Federal Re serve Bonk ••••

Federal funds sold and securities purcha se d
428,155
6,130,042

559,988
6,084,654

439,160
6,070,315

Commercial and industrial1oons •...•....•.. ••
Agricultural loa ns, excluding CCC

2,941,022

2,948,483

3,002,569

certificates of interest ..•••.••..•.•••..•••
loons to brokers and dealers for
purchasing or carrying:

98,297

98,004

108,033

U.S. Government securities ••••••••••••••••
Other sec urities ••••..••.••..•..••••.••..

507
34,281

500
36,101

555
43,659

2,296
413,748

2,306
408,593

157
367,040

169,931
373,379
623,733
5,943
9,845
739,740

192,223
367,462
608,393
5,004
8,269
730,957

134,057
380,289
637,044
11 ,061
8,880
709,814

0
717,320
2,703,703

0
678,359
2,658,942

0
667,157
2,450,706

923,165
82,684
0

901,258
73,224
0

921,727
25,608
0

187,170
563,142
90,169

185,977
547,700
94,357

126,054
625,644
144,421

47,257
1,546,896

35,884
1,538,692

32,976
1,357,454

Curren cy and coin ..... .. ...•
Req uire d reserves ...• .•. .. .•..
Excess reserves ••. .. •...• . .•..
Borrowing s • ...... ••...•..•..•
Free reserves • ••.. .... .. . .....

under agreements to resell ••••••••••••••••••

Other loans and di scounts, gross ...........•••..

Total reserves he ld .••..•...•••

With Fe d eral Reserve Bank •••.

Other loons for purchasing or carrying:
U.S. Governmen t secur iti es .••. •..•..•.••••
Oth er securities ••....•••.•..••.••.••. • ••
Loans to non bonk financial institutions:

Other ••..••...•••..••....••..•••••••.•
Real estate loans ••..•••••....•.....••..•..
loans to domestic commercial banks .•••..•••..
loans to fo reign banks .•••..•... .••.•••.•.•
Con su me r instalment loans •••••......••..••.•
loans to foreign governments, offlcial
institutions, central banks, and inte rnational
institutions •••.••..••••••.•... . .••..•••••
Other loans • •...... .. ••••••••.. ••••••••.•
Tala I investments .•••••.•••.••.•••.••.••.••••
Total U.S. Government sec urit ies .••.••.•••.•••
Treasury bills •• .•..• •••••.••• •. . ••••••.. ••
Treasury certiflcates of indebtedn ess ••••• •••
Trea sury notes and U.S . Gove rnment
bond s maturing :
Within 1 year •••..• •••..•.. ••.•• .• •••
1 year to 5 years ••..•••••••••••••..••
After 5 years ••...•.••.••.•..•••••.••.
Obligations of states and political su bdivisions:
Tax warrants and short-term not es and bills ••

All other ••.•.•• •.•. .. • .• .• .•..• •• ••.•••
Oth e r bonds, corporate stocks, and securiti es:
Certiflcates re presenting participations in
Federal agency loon s •...••••.•••••••••

All other (including corporate stock s) •••.• • ..
Cosh items in proc ess of coll e ction ••....••.••...
Reserves with Federal Re serve Bank •••••.•..•.•
Currency and coin .•..•.....• . .•...•.•.••.•••
Balances with banks in the Unit e d States •••••••••
Balances with banks in foreign countries ••••.. •••
Other a sse ts (includ ing investments in subsidiaries

not consolidated) •••• •••••. ••.•• .••••• • • • • •

Currency and coin .. .. . . .....
Re quir e d reserves •• ... .••.....
Excess reserves ••.•.••...•....
Borrowing s ...••..•.•...•.••••
Free re serves •.•••..••..••..••

ALL MEMBE R BANKS

Sales flnonce, personal Anance, facto rs,
and other business credit companies •••.• ••

COUNTRY BANKS

Totol reserve s he ld . ••. ..•.. .. .
With Fe d eral Reserve Bank ..• .
Currency and coin .•....•...•
Required reserves .•..••..••.•.
Excess re serves ••..••...••..••
Borrowing s ..... ••.••.. .•• ..•.
Fr ee reserves .••.. •••.•• ... •..

-

CONDITION OF THE FEDERAL RESERVE BANK OF DALLAS

110,079
76,306
1,101,929
964,483
91,737
562,312
8,498
486,335

TOTAL ASSETS., ... ....... ......... . ... 12,477,194

110,152
72,956
1,061,005
919,234
96,277
491,418
8,540

68,101
70,448
1,132,467
744,238
88,729
498,854
7,105

471,Q53

430,814

12,351,111

(In thousands of dollars)

==========================================~~
Sept. 24,
Sept. 23,
1970

Item

Aug . 26,
1970

594,856
2,900

711,470
14,520

1~

-----------------------------------------

Total gold certiflcate re serves... .... .. ......
Discounts for me mber bonks. . . • . . . • . . • • . . • .

470,4i~

23,5 0

Oth e r di scoun ts and advances .••.• , . . . . . . ••

0

0

623

U.S. Gov ernm ent securiHes. . . . . . . . . . . . . . . . .
Total e arning a ssets. .... . . ... ..... . ..... . .
Member bank reserve de posits..............

2,656,389
2,659,289
1,490,364

2,468,007
2,482,527
1,447,684

2,295, 98

Fe d era l Rese rve notes in actual circulation.... •

1,841,802

1,83 1,252

2,319'~92

1,283'72 8
1,665,

-------------------------------------------- ---

11,862,388

----

CONDITION STATISTICS OF ALL MEMBER BANKS
Eleventh Federal Reserve District

LlA81LITIES
Total d e po sits ••••..•••••.• • • • •••.••••••••••

9,796,675

9,610,169

5,793,333
3,907,473
293,008
235,247
1,250,145

5,814,531
3,956,351
318,777
194,471
1,223,280

5,944,635
4,114,780
281,566
263,246
1,179,310

( In millions of dollars )

9,354,180

Total d ema nd d e posits .•..•..•.....•.••.•..
Individual s, partn ers hip s, and corporations .•••
States and political subd ivisions •.•..•.. ••••
U.S . Government •.•••••.••..•..•.•••••.•
Banks in the Unite d States .. .... ......... ..
Foreign:
Governments, offlcial institutions, central
bonks, and int ern ational institutions ••• . •
Commercial banks ....•.•..•...•.••..••
Certifle d and offlcers' checks, e tc ...........
Total time a nd savings deposits ••..••..... • ..
Ind ividuals, pa rtn ershi ps, and corporations:
Savings d e posits •••••..•. •. .••.. •••.••
Other time deposits .••........•••.•..••
States and political sub d ivi sions •• .. ....•.•.
U.S. Government (includ ing po sta l savings) ••••.
Banks in the Unit ed States • .• • .• .. ••... •• ..
Foreign:
Gov ernmen ts, offlcial institutions, ce ntral
banks, and international institutions •..••
Comm erci al banks ...... .. . ••..•.• •.. ••
Federal fund s purcha sed and securiti es so ld
under agreements to re purchase ••.••••.•• ..•
Other liabilities for borrowed money ............
Other liabilities .... •••• • .. ....• • . • .. •.• •.. •.
Reserves on loans •. ...•. .•..••.... •... •.••.•
Reserves on se curiti e s •••••.••..•••••••••...•.
Total capital accounts ••.•. . •••• . ••.. . •••••.• •

4,235
22,492
80,733
4,003,342

2,984
19,982
98,686
3,795,638

3,212
27,000
75,521
3,409,545

922,383
2,153,709
795,115
45,934
66,716

920,400
2,027,305
757,899
43,633
28,916

957,277
1,822,216
594,937
8,540
19,685

~

Aug . 26,
1970

July 29,
1970

locns and di scounts, gross •. • ••• .......••.
U.S. Gov ernment obligations ••.••.. ••. . .•.
Othe r sec urities ••..••...•..............
Reserves with Fe d er ol Reserve Bank •••••...
Ca sh in vault •. ... .••... . . .• • ...•......
Balances with bonk s in th e Unit e d States • . .•
Balances with banks in for eign countri es 8 ••••
Ca sh items in process of collection ...•..••.
Oth e r assets e •••.• .... •.. . •...• .. .•. • .•

11,976
2,048
3,466
1,448
279
1,284
10
1,234
902

11,903
2,017
3,356
1,220
270
1,183
11
1,215
621

TOTAL ASSETse .. •..•..•• ...•.......

22,647

21,796

Tim e d e posit s .•..•.. .•......... ..... •..

1,591
8,989
7,889

1,612
8,703
7,610

Total deposits ...•.. •...•.......... . •
Borrowings •..•...........•. ... • .. .... .
Other liabiliti e s e .•..........•..........
Total capital accounts e •. ........ .•.. ••..

18,469
1,2 24
1,144
1,810

17,925
1,218
860
1,793

TOTAL LlA81L1T1ES AND CAPITAL
ACCOUNTSe •... •...• ..••..... •..•

22,647

2 1,796

It e m

ASSETS

LIABILITIES AND CAPITAL ACCOUNTS
18,385
1,100

16,385
1,100

5,500
1,390

998,607
98,844
421,131
130,560
16,360
1,015,017

1,009,003
155,095
419,718
130,105
14,863
1,012,158

905,503
183,392
327,124
118,003
11,606
962,580

TOTAL LlA81L1TIES, RESERVES, AND
CAPITAL ACCOUNTS •• • ••••••••.••...• 12,477,194

12,351,111

De mand d e po si ts of banks •... .... .• .. •• .

11,862,388

Other d emand deposits ••••....••... ...•.

e -

Estimated.

Aug. 27,

~
11,431
215 2
3'135
1'17 6
'265
1,17:

-

1 198
'775

~
1 468
8'843
7:32 3

1 7'~~~

1'892
1.702

~

~

BANK DEBITS, END-OF-MONTH DEPOSITS,
AND DEPOSIT TURNOVER
(Dollar amounts In thousands, seasonally adju sted)
DEBITS TO DEMAND DEPOSIT ACCOUNTS'
DEMAND DEPOSITS'
Percent chang o

Standard metropolitan
stati stical area

Annual rate
of turnove r

August 1970 from

August
1970
(Annual · rat e
basis)

Jul y
1970

1969

8 months,
1970 from
1969

25
18
8

18
11
21
6
11
- 1
1
14
5
9
12
9
11
11
12
13
3
7
1
8
9
12
10
-7
4
13
-1
11

August

-2
3
-5
0
2
-3
5
-4
-39
-5
5
- 10
1
4
-2
-4
3
4
-18
-9
8
1
-5

Wichita Falls ••••. .•.•.• •...•.•. • ••....••....

6,688,176
2,952,B 16
8,572.908
88 1,1 48
2,183,820
5,722,044
8,843,388
5,951,724
1,237,536
4,600,068
489,972
11 7,505,632
7,437,900
22,644,768
2,7 11,724
102,563,316
994,524
5,362,524
1,424,136
1,874,592
1,637,436
1,217,208
18,130,884
1,053,61 2
1,426,536
2,267,172
3,045,036
2,345,136

0
2
-4
- 1

10
5
5
3
9
5
36
12
15
10
5
11
22
15
11
2
1
10
16
3
-2
6
9
5

Total_28 centers •.•... • .....•.. •• ... • •... •• .••• ••. ,

$34 1,765,736

-5

11

ARIZONA, Tucson •..•• .. •• .•.. . . •• ... .• .• •..• , ..•...
LOUISIANA, Monroe ... • . ..•....•... •. •• .... .. .... •.
Shreve port .• . .. . .... •. ... ..• ............

NEW MEXICO, Roswell ' .••.. • •....••.•..••... . ....••
TEXAS, Abilene • .•. •• • ..••......... . ....• .• •...•. .• •
Amarillo . .... ... ...... . ..... .. ... .... .•.. . ..

Austin .... . . .... .. .. .... .... . .. . . .... .... .. .
Beaumont· Port Arthur· Orang e .... ...... ....... .
Brownsvill e- Harling en-San Benito .. . ........... . .

Corpus Christi ...... . ... .. ..... ..... ... .. .... .
Corsicana 2 •••• ••••• • •• • ••••••••••••••• ••• •••

Dallas . • •..... •• .. . . • .••.. .• .• • •.... . . • .. ...
EI Paso . ... ... .•.................•.•.. . .. . ..
Fort Worth .. ................................
Galv eston·Texa s Cit y ............ ..• . ... . .... .
Houston • •••.. •• . .... • .. • •...•.. ' " •• ...... .
lare do .......... . .. ..... ... ................

lubbock ....... . ........ .... ............. .. .
McAllen· Pharr· Edinburg ••• •.. . . .•. . • • . .. •••. •. •
Mid land • •...• ....••••.•....•••••...... .• • .•
Od ess a ..• . .......... ... . .. . ........... ... ..
San Angelo ..................... .•. .... .....
San Antonio ... ... . ...... . . .....•. •.... ..... .
Sherman-Den ison . •.. . .... . ....• .. .. .. ... ...
Tex arkana {Tex a s-Arkan sa s) .......
0

0

•

•••••••••••

•

Tyler •••. • .•.• •• .. •• . ••.•• .. .• .. ••.•••• ••• . .
Waco . • . .... . ............

--

0

.0

•••••••••

0

•

••••

$

-9

August 3 1,
1970

August

Jul y
1970

August

1970

229,057
92,470
249,885
38,870
101,09 1
163,222
333,183
240,727
69,307
228,986
32,1 43
2,245,315
240,026
646,62 1
113,539
2,509,979
38,252
183,029
92 ,573
133 ,556
92,945
66,519
655,132
64,390
72,882
96,583
120,67 1
115,369

28.9
32.0
35.4
22.7
21.4
35.3
26.9
24.6
17.7
21.2
15.3
56.5
31.8
35.2
24.0
41.2
25.1
30.2
14.9
14.2
17.8
18.4
27.7
16.4
19.8
24.2
25.5
20.5

29.0
33.0
36.9
23.5
21.1
36.4
26.5
25.9
27.8
23.5
15.0
63.4
31.9
33.8
24.1
42.8
24.3
30.1
17.4
15.6
16.4
17.3
29.5
18.1
20.2
24.0
26.4
2 1.0

24.B
28.0
32.8
24.1
20.2
34.1
30.5
23 .8
16.8
21. 1
12.2
47.3
28.5
33.3
24.8
37.2
21.1
30.0
14.1
13.5
21.3
17.0
26.2
16.9
20.6
23.2
24.2
19.1

$9,266,322

37.8

40.1

34.5

1969

~ Deposits of Individual s, partnerships, and corporations and of states and political subd ivisi on s.
• Count y basis.

GROSS DEMAND AND TIME DEPOSITS OF MEMBER BANKS
El e ve nth Fe d e ral Reserve District
(Ave rages of daily flgures. In millions of dollars)

BUILD ING PERMITS
~

GROSS DEMAND DEPOSITS

VALUAT ION (Dollar amounts in thousa nd s)
Dal e

Percent change

August 1970
from

NU MBER
August

August
1970

8 mos.

1970

~rea

8 months,

1970

8 mos.

1970

Jul y
1970

August

1970

1970 from
1969

~~120NA
LCTUcson .. .. .. ..
UISIANA

619

4,827

$

8,538 $

37,953

137

99

- 19

-74
-26

53
17
-54
- 62
123
-36
130
- 1
-45
194
1
23
68
2
664
319
-53
- 58
-30
-70
90
- 57
- 67
87
113

- 16
-4
-17
- 12
-32
7
-5
25
-9
2
67
2
137
95
-22
- 1
- 11
92
26
- 36
18
94
-9

Sh"'on ro e ... ..
IEXA~eve port •• . •

~bilene •••. • .•
A.Tllarillo . .....
Bustin ... .. ...
ea urnont

Brownsvill ~ : : : :

g~rl~us Chri sti ..

Deniss . . •...• •

EI p on .... .. .
oso • ......

Girl Worth . • . •
~: Veston • .. ..
lQr~s~~n .•.• • .

LObbo ' • . . . .•
c
Midlan~ .. .. ..•
"'"
Cd
Po esso ... . . . .

So't A,thur ••. .
Son Ang elo . .•

Sh~r~~tonio .

0

0

T
.
n . ... ..
W·orkana • ..•
Oco
Wichil~ F~il; : :
l'to'-26 "

-13

10

0

9,732
10,250
10,284
10,497
10,233
10,265
10,4 12
10,530

4,523
4,746
4,727
4,819
4,67 1
4,748
4,782
4,8 16

Jun e ......

Jul y ..... ..
August ... .

Monroe_ W est

F

1968, August. •••
1969, August ••• •
1970, March •• . ••
Ap ril .... . .
Ma y .....•

~ Itl es ••

81
482

542
3,628

669
2,568

10,588
22,573

37
143
442
146
83
78
1,432
37
367
337
83
2,518
55
142
40
74
67
54
1,308
24
192
61

317
. 3,262
3,199
1,197
58 1
2,488
15,225
310
3,581
3,151
578
24,15 1
390
1,790
436
601
632
459
10,459
547
233
1,623
554

130
1,516
14,382
594
1,624
1,0 17
16,295
159
4,695
5,128
636
35,043
1,092
7, 128
334
270
155
260
10,446
479
110
2,698
1,317

6,604
24,382
86,985
7 ,027
4,656
18,267
233,909
2,932
58 ,085
57,115
4,505
295,570
5,487
40,5 16
3,236
6,486
6,722
8,540
69,294
10,582
5,387
27,9 19
9,480

8,974

84,76 1

72

TI ME DEPOSITS

Country
ba nks

Rese rve
city banks

Country

Total

5,209
5,504
5,557
5,678
5,562
5,517
5,630
5,714

7,208
7 ,353
7,231
7 ,328
7,394
7 ,39 1
7,5 11
7,783

3,049
2,74 1
2,581
2,634
2,659.
2,65 1
2,722
2,926

4,159
4,612
4,650
4,694
4,735
4,740
4,789
4,857

banks

17
-10

-95
71
-13
-7
252
-55
- 48
-47
-28
14
33
6
452
3
-36
-54
-22
-89
29
-83
- 11
40
-38

Total

Reserve
cit y bonks

------- $ 117,283 $1,064,800

VALUE OF CONSTRUCTION CONTRACTS
(In mi llions of do lla rs )
January -August

1970

Jul y
1970

1970

1970

1969r

753
33 1
285
137
6,230
2,349
2,331
1,549

626
305
210
111
6,178
2,347
2,469
1,36 1

755
249
205
301
6,553
2,224
1,9 19
2,410

5,479
2,042
1,793
1,644
46,755
16,202
17,270
13,283

4,759
1,940
1,56 1
1,258
46,692
17,676
17,547
11 ,469

Au gust

Area and type
FIVE SOUTHWESTERN
STATES' • •.. •... . •.. . ...
Resi dential build ing
Non res id ential building ....
N on buildin g con struction . ..
0

••

••••

UNITED STATES ....... . ....
Resi dential building ..... ..
Nonre sid ential building ... .
Nonbuilding construction ...

Jun e

1 Ari zona, l ouis iana, N ew M oxico, O kla homa, and Texas.

r Rev ised .
NOTE . Details moy not add to total s becau se of rounding .

SOURCE, F. W . Dodge, McGraw· Hill, Inc.

NONAGRICULTURAL EMPLOYMENT
Five Southwestern States

INDUSTRIAL PRODUCTION
(Se a sonall y adiusted indexes, 1957·59

'
Percent chang e

Type of em plo yment
Tota l nonagricultural
wage and salary workers ..
Manufacturing •....... . ..
Nonmanufacturing ........
Mining . ..... . ........
Construction ...........
Tran sportation and
public utilities.. ..... .

Tra de •.•.. • . .... .....
Finance ....... . .......
Service . ..............
Government • .. ........

July
1970

6,365,000
1,1 5 1,300
5,213,700
232,600
4 16,800

1969r

6,368,800
1,155,1 00
5,2 13,700
233,300
416.000

475,700
1,485,900
327,500
1,042 ,200
1,233,000

Jul y
1970

August

6,270,200
1,197,200
5,073,000
237,400
420,000

475,000
1,481,800
327,600
1,040,700
1.239,300

- 0.1
- .3
.0
-.3
.2

458 ,300
1,432,400
313,900
1,005,000
1,206,000

.1
.3
.0
.1
-.5

Aug.
1969
1.5
-3 .8
2.6
-2.0
-.8

-=

August
1970 p

Area and type of index

Aug. 1970 from

Number of p ersons

August
1970 p

= 100)

Jul y
1970

June

August

1970

1969

179.3
198.0
203.6
194.3
137.7
260.0

175.3
196.8
204.3
191.8
128.9
260. 1

174.8 r
196.5r
208.2
188.6r
128.5 r
256.8r

175.7r
199.2 r
222 .8r
183 .4r
127.3
253.9r

169.0
168. 1
167.1
169.3
137.0
23 4.5

169.2
168.4
167.7
169.3
13 4.5
238.2

168.8
167.7r
167.3r
168.3r
135.lr
237.3 r

174.3
175.4
178.8r
171.3
131.2
222.6

TEXAS
Total indu strial production ... .. .
Manufacturing . . .... . .. . ...... .

Durable ..... . . ... .. .. ...... .
Nondurable . ... . . .. .. .. ..... .
M ining . ...... .. .. . ...... .. .. .
Utilities .... . ..... ............ .

UNITED STATES
Tota l in dustrial production .. •. ..
Manufacturing ............. . .. .

Durable ... .. .. . . ...... ,'.... .
Nondurable .... ..... . ... . : , . .

3.8
3.7
4.3
3.7
2.2

Mining .... ... . .. ........ . ... .
Utilities ... . ... ..... .......... .
Pre liminary.
Revised.

p -

r -

Arizona, Loui siana, New M exico , O klahoma, and Texas.
p Pre liminary.
r Revised .
1

-

SOURCES, Board of Governors of th e Federal Reserve Sys te m.
Federal Rese rve Bank of Dalla s.

SOURCE , State employment a gencies.

DAILY AVERAGE PRODUCTION OF CRUDE OIL

CROP PRODUCTION

(In thou sand s of barrels)

(In thou sand s of bushels)

==========================================~~
TEXAS

Percent chang e from
Augu st
Area

1970

Jul y
1970

August

1969r

July
1970

Lou isiana ...............
New Mex ico .... ........ .

Oklahoma •••...... .. . . .
Tex a s... . ..... . .. . .... .

Gulf Coa st •..••....•.•
Wes t Tex as ...........

Ea st Texa s (prop er) •.•..
Panhandl e ...... .. ....
Rest of state ...........

UNITED STATES ••.....•. . • .

6,91 8.6
2,509.3
369.1
608.1
3,432.1
696 .1
1,631.5
2 14 .8
79.9
809.8
9,676 .3

6,59 1.5
2,370.5
377.0
617.3
3,226.7
658.6
1,530.7
201.2
75.2
76 1.0
9,361.5

SOURCES , Ame rican Petrol e um In stitut e.
U .S. Bu rea u of Mines.
Federal Reserve Bank of Dalla s.

6,256.7
2,151.7
35 1.8
6 10.3
3,142.9
633.2
1,492.5
160. 1
82.0
775. 1
9,055.3

5.0
5.9
-2. 1
-1.5
6.4
5.7
6.6
6.8
6.3
6.4
3.4

10.6
16.6
4.9
-.4
9.2
9.9
9.3
34.2
-2 .6
4.5
6.9

1970,

estimat ed

Se pt. 1

3,468
25,844
54,408
28,140
4,394
8arley ..••..••.
736
Rye ••••...•• .. •
22,834
Rice 3 •••••••• •• •
Sorghum groin ... 337,932
1,127
Fla xsee d .... ...
3,983
Ha y' .••...•..••
Peanuts fi •••••••• 420,000
4,306
Iri sh potato es6 •••
975
Sw ee t potatoes6••
38,000
Pecan s .........

2,862
25,124
68,856
25,460
3,290
684
21,646
309,800
1,300
3,451
389,070
4,437
780
23,000

estimated

Cotton 2 • •• •• ••••

Corn •........ ..
Winter wheat •...
Oats. •....... ..

1969

1968

3,525

4,968
36,776
167,7 15
36,332
35,340
1,762
43,594
393,485
1,1 27
9,384
644,360
7,893
5,650
73 ,000

4,415
34,266
197,6 19
33,05 8
29,096
1,664
42,420
368,740
1,300
9,136
610,549
8,084
5,200
73,900

36:871

26,052
84,150
19,822
3,348
528
27, 164
340,780
742
4,587
426,300
4,382
960
69,000

1 Arizona, Loui si ana, N ew M ex ico, O klahoma, and Tex as.

" In thou sa nd s of bales.

COTTON PRODUCTION

1970,
indicated

Se pt. 1

1969

196B

9
- Coa stal Prairi es . .. ... .. . ... ..
10·N - South Texas Plains ..••......•
10·S - Lowe r Rio Grand o Valley •.• • . .

400
1,500
180
315
15
375
25
35
143
50
60
60
95
25
190

248
1,134
179
213
15
258
15
34
14 4
49
50
106
93
17
307

2 11
1,384
3 12
372
20
409
19
41
189
72
57
93
79
25
242

State .•••......••• •.• .. ••• ••..•

3,468

2,862

3,525

I·N
I ·S
2·N
2· S
3
4
5~ N
5~S

6
7

-

No rthern
Southern
Re d Be d
Re d Be d

High Plains •.••..••••
High Plains • . •. ..• • ..
Plain s ••• •.. ..... .•.
Plains •••...• • ••..••

- W este rn Cross Timbers . .. . .. . .
- Black and Grand Prairi es ......
East Tex as Timb ere d Plain s ... .
East Tex a s Timb ere d Plain s ....

-

Trans~Pecos ..

... . .•. . •.•. . ..
Edwards Plate au ••. ••..• .... .

8~N
Southern Tex as Prairies .. . . " .
8·S - Southern Texa s Prairi es .... . ..

CROP REPORTING
DISTRICTS OF TEXAS

--

Sept. 1

a In thou sands of bag s containing 100 pound s each .
" In thou sa nd s of ton s.
[j I n thousand s of pound s.
o In thou sand s of hundredweight.
SOURCE , U .S. Departm ent of Agriculture.

Are a

ST~

1968

1969

Crop
FOUR SOUTHWESTERN
STATES •••• .....•..•.•.•

FIVE SOUTHWESTERN

1970,

August
1969

SOURCE, U.S. Departme nt of Agriculture.

52AA

2 18,9~~
25 ,A

26,856
1 208
53:306

402'm
10,418

671 ,A76
762A
5'120
97:000

---