On the recordOctober 28, 1964
Average wage and benefit increases have not exceeded the long-run rise in the productivity of our workers, so that labor cost per unit of output has not risen since the beginning of 1961.
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presidency.ucsb.eduAverage wage and benefit increases have not exceeded the long-run rise in the productivity of our workers, so that labor cost per unit of output has not risen since the beginning of 1961.
Presidential Statement No. 9 on Economic Issues: Promoting Price-Wage Decisions.
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