The result is that less savings are retained for investment in
industry or other profitable undertakings,
Hventually the temporary impulse in luxury trades ceases
and the position in those also finds the level of trade generally.
There is already evidence of this process.
ARTICLES OF CONSUMPTION.
To some extent, obviously, articles of consumption may be
luxuries rather than, or as well as, necessities, therefore, it might
be expected that over the whole range of articles of consumption
the effects of the general depression would not be very evident.
This, it might be thought, would also be the case for another
reason, namely, that the very large total sums paid directly to
the unemployed, or expended for them in relief by the local
authorities, must make up to a considerable extent for what they
would otherwise spend out of earnings. Doubtless, the statistics
of consumption are affected in both these ways. It is therefore
all the more striking evidence of the general impoverishment of
the country that it is reflected in increase in unemployment mn
trades dealing with articles of personal consumption. The official
figures appended show this increase :—
NUMBERS AND PERCENTAGES UNEMPLOYED.
FOOD, DRINK AND TOBACCO.
(Ministry of Labour Statistics.)
Monthly Average.
1927 ... es
1928 ... ..
1929 .., ..
1930 :—
January
February
March
April
May
June
July - wos
August... res
September
October
Total Unemployed.
38,101
37,530
38 381
49,739
51,267
57,214
59,146
57,462
52,875
53,185
54,865
57,876
20 ga”
Percentage.
74
74
7.5
7
10-0
11-2
11-5
11-2
10-1
10-1
10-4
11-0
1.4