The Washington Post, March 29th, 1994
After losing money in 1992, America's 500 biggest industrial companies earned $62.6 billion in 1993 even while slashing thousands of workers, Fortune magazine reports. The profit figure would be enough to wipe out the 1993 U.S. trade deficit with Japan and is more than double the federal budget allocation for education spending. The improvement didn't benefit the U.S. job picture, however. Total employment among the 500 fell for the ninth straight year, from 11.8 million to 11.5 million. The trend substantiates a pattern of dwindling employment opportunities as businesses get more efficient wi...
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