JOINT ECONOMIC COMMITTEE (Created pursuant to sec. 5(a) of Public Law 304, 79th Cong.) SENATE WILLIAM PROXMIRE, Wisconsin, Chairman JOHN SPARKMAN, Alabama HOUSE OF REPRESENTATIVES RICHARD BOLLING, Missouri HALE BOGGS, Louisiana HENRY S. REUSS, Wisconsin MARTHA W. GRIFFITHS, Michigan WILLIAM S. MOORHEAD, Pennsylvania THOMAS B. CURTIS, Missouri WILLIAM B. WIDNALL, New Jersey JOHN R. STARK, Executive Director ECONOMISTS GEORGE R. IDEN WILLIAM H. MOORE DONALD A. WEBSTER (Minority) Cohen, Hon. Wilbur J., Under Secretary, Department of Health, Educa- tion, and Welfare; accompanied by Robert J. Myers, Chief Actuary, Office of the Actuary, Social Security Administration; and Mrs. Ida C. Merriam, Assistant Commissioner, Office of Research and Statistics, Martin, Hon. William McC., Jr., Chairman, Board of Governors of the Federal Reserve System; accompanied by Daniel H. Brill, Senior Adviser to the Board, and Director, Division of Research and Statistics; and Robert Solomon, Adviser to the Board, and Director, Division of Inter- Trowbridge, Hon. Alexander B., Acting Secretary of Commerce, accom- panied by William H. Shaw, Assistant Secretary for Economic Affairs; Edward K. Smith, Deputy Assistant Secretary for Economic Policy; Louis J. Paradiso, Associate Director, Office of Business Economics; and Robert L. McNeill, Deputy Assistant Secretary for Trade Policy, EXHIBITS AND ADDITIONAL INFORMATION Table: Training opportunities, fiscal years 1964-68; submitted at 260 Unemployment totals, 1966; submitted in response to Representati ve 272 Information relative to "equal pay for equal work"; supplied at request 273 Additional material relative to above; responding to Representative Griffiths' query - 274 Tables: Miscellaneous tables showing employment status of selected 275 Table: Real spendable average weekly earnings, etc.; supplied at re- 278 Figures indicating workers covered by cost-of-living escalation 280 Table: Employment; submitted in response to Senator Miller's 281 "Federal regulation affecting State activities and instrumentalities' 282 283 Information relative to teenage employment with Federal Govern- 288 Information relative to teenage opportunities in apprenticeship pro- grams; requested by Representative Widnall. Table: Percent change and contribution to total change, selected Consumer Price Index components, December 1965 to December 1966; supplied at the request of Chairman Proxmire.. Memorandum: On-the-job training programs; furnished at request of Letter to Secretary Wirtz covering questions submitted by Senator Percy, and responses by Secretary Wirtz. Department of Health, Education, and Welfare: Questions submitted by Representative Curtis and answers by Questions submitted by Senator Javits and answers by Department- Letter of Robert J. Myers, Chief Actuary of the Social Security Administration commenting on the U.S. News and World Report article "Is Social Security To Get Out of Hand?". Question re administrative cost of welfare submitted by Representative Griffiths and answered by Department. -- Question relative to SSA payments abroad, submitted by Repre- sentative Rumsfeld and Department's response. Question relative to trend in private expenditures for health, education, and welfare, submitted by Representative Rumsfeld and answer Question relative to percentage pulled into poverty class by each 5- percent increase in cost of living, submitted by Chairman Proxmire, Additional information relative to policy actions of Federal Open Market Committee, supplied by Chairman Martin... Letter from Chairman Martin to Representative Reuss concerning "Earnings and expenses of the Federal Reserve Banks in 1966 and 1965," additional material supplied by Chairman Martin at request Material submitted in response to questions of Representative Brock relative to monetary policy under certain inflationary pressures_-_- Table: Detail of U.S. Government pensions and other transfers, in the balance of payments, fiscal year 1966, submitted at request of "Earnings and expenses of the Federal Reserve Banks in 1966 and 1965"; additional material supplied by Chairman Martin, Chair- man of the Board of the Governors of the Federal Reserve System.. Questions to Chairman Martin and responses from the Board of Governors of the Federal Reserve System relative to monetary Curtis, Representative Thomas B.: Questions to Department of Health, Education, and Welfare and 338 Questions relative to administrative cost of welfare; answers by De- 364 Statement made at opening of hearing on Tuesday, February 7, 1966–– Questions to Department of Health, Education, and Welfare, and Miller, Senator Jack: Figures indicating workers covered by cost-of-living escalator clauses; Table: Employment; supplied by Department of Labor. Table: Percent change and contribution to total change, selected Consumer Price Index components, December 1965 to December 1966; submitted by Department of Labor.___ Memorandum: On-the-job training programs; submitted by Depart- Question relative to percentage pulled into poverty class by each 5-percent increase in cost of living; answer submitted by Depart- Rumsfeld, Representative Donald: Tables: Miscellaneous tables showing employment status of selected 275 Question relative to trend in private expenditures for health, educa- cation, and welfare, and answer supplied by Department of Health, "The metric system and international trade,' statement submitted Information relative to teenage employment with Federal Govern- 288 Information relative to teenage opportunities in apprenticeship pro- 291 Table: Detail of U.S. Government pensions and other transfers in the balance of payments, fiscal year 1966; submitted by Depart- 5. Wholesale and consumer prices by major sectors. 256 6. Year-to-year changes in consumer service prices.. 257 Monthly social security cash benefits under present law and under proposal.... 333 6. Consumer spending on nondurables and services moves with income.. 7. Prices in wholesale and retail markets___ 462 463 TABLES DEPARTMENT OF LABOR 1. Characteristics of persons enrolled in MDTA courses, calendar year 1966____ 2. Estimated annual rates of increase in hourly cost of wage and benefit changes negotiated in key collective bargaining settlements, 1966--3. Estimated annual rates of increase in hourly cost of wage and benefit changes negotiated in key collective bargaining settlements in construction, 1966-.-.-. 4. Year-to-year percent change in output, output per man-hour, manhours, 1947-66- 247 248 248 249 5. Average annual percent change in output per man-hour and related data, 1947-66-- 249 6. Indexes of output per man-hour, compensation per man-hour and unit labor costs in the private economy, 1947-66. 250 7. Average annual rates of change in output per man-hour, hourly compensation, and unit labor costs in the private economy for selected years. 250 8. Key wholesale price trends, 1964-66 9. Key consumer price trends, 1964-66- 251 252 253 10. Price trends for selected consumer services, 1963-66–. DEPARTMENT OF HEALTH, EDUCATION, AND WELFARE 1. Social welfare expenditures under public programs, selected fiscal years, 2. Trends in poverty and low-income status, 1959-65-Number and 6. OASDHI-Benefits in current-payment status for individuals, by 7. OASDŽI—Benefits in current-payment status for individuals, by country or continent-Number payable to beneficiaries living abroad, by type of beneficiary, June 30, 1966... DEPARTMENT OF COMMERCE 1. A 3-year performance of selected major economic measures 322 326 328 329 330 366 368 456 |