New Heights

From the production line to the balance sheet, the U.S. economy last week showed its glowing good health with a pair of new records. Items:

P:Employment in May climbed by 1,000,000 workers for the second consecutive month, bringing total U.S. civilian employed to an alltime record for the month of 62.7 million, some 1,500,000 more than last year, and a full 700,000 more than the previous record in May 1953. Unemployment decreased by 500,000 workers during the month for one of the biggest May declines ever recorded, is now 2,500,000, which is 800,000 below the 1954 level.

P:Stocks on the New York Stock Exchange burst through to new peaks as the Bull Market continued its upward surge. The Dow-Jones industrial average (30 stocks) pushed up 9 points last week to close out trading at 437.72, a 32-point gain since Jan. 3. On the New York Times composite average of 50 leading industrial and railroad stocks, the week's final reading broke through to 300.57, the highest closing since Sept. 23, 1929.

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