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NEWS
l'SOL - H-ll
FOP. IIfLUSE :
v
U. S.
1;'
DEPARTMENT OF LAlli
,mel IF IlriliiTlli . IUIIUTlK , I. C. 11111
Burnu of L.<i>o r statb t ic.
W. II. EII.nberl (202) 961- 3595
ll, oo .1. .11. , E . S.T.
Tue.dly , January 30 , i91}
'.
K. O. Hoyle (202) 961 - 29H
h.,.. , 3H- 1334
f ourth Quutu 1972
Produotivity (eutput par .on- hour) 10 the private
. con~
ro •• It In annual rate of
5.3 p.. cen, In the fcurth quar ter o f 1912 com".red ,, (th 4.1 pHcent In the third q uarter,
Inup Incre . . . In f U ll productivity.
In the nonl."" . . otor, pr<>duCt1vity loon.oed by 4 . 3 pueoM , down .=-h.t hom
6 . 6 percent 10 the third q""rtH, but "eU ahov. th o lon!""un> trend raU over ,he hot
<-'0 decodu.
-""-t::: "
""... th e fcur-quarter p or led .l1d1~ wHh the fourth quartu of 1972 . tile UtU o f
'"~.. '" "<e" ."'
the p!'1vou "cohn; lu ter ,
a.,cen, ohIO., ... In produ
.u,""' ,,. " •• "'0<0 u •• _ , ,,'
d 4 .J epuco"t 1D zu:tufaoturlnl .
.m." ,.,
, -;'hourly co"",.n . . t lon , and unlt labor cos," . . annual
,
Tabl~
A.
' . . cen< 0.00,0 in Productivity and ecou at ""'ou.l bt . .
(hdtldnary •• "'o<>ally .dJUllnd d . . .)
3rd
Qu.~ter
1972
to 4th Quartu 1912
4th quarter 1911
to 4th Qua •••• 1972
Toul 'rlut.
OUtput par .an -h~ .
Co.peD •• 'ioa peT man- hOUT
Untt labor coHo
.oul
t"" pu .... 41ou.
<._.....
•••••
•,.,
...
Output pH -..:I-hOUT
,.,
...
•••
Cooapenoatlon per "",,·hour
lInl. labor coHo
,. ,
!!oul .. ooop."... ion per II.On-houT
II&nuhcturins
,.,
,.....
Output par man-houT
eo.panuUOd per ...,,- hOUT
•••
Unit l.bor co •••
Real co.pen •• tlon per .an-hOUT
,k"" output-- up f • .,., 2.3 per.,.", In eb<o ,.n10Wl
~u... teT
to 3.4 !><ITeano tn the fOu rth
In the n<>l'lfano. sector, the deceleutloo In prod"otivUy ST"",h . eUaced tho ..,ch
,
Although the rate of Incr ••• e of .anufacturinR output durlns this quarte. u •• very
. . r<>IIg--12.~ percent t"'"l'ared \l ith 1.1 peree'" In the third quarter--theu ,",u an even
sr..,e. ju.p in manufacturing .an-houro--9.8 percent
the third quarter.
h"'"
~.5
u ith • 1.6 percent rio. In
The nfore. the nte of increase In productivity ol""ed o"",otanthlly
puceM to
of 1971 , output per
2.~
pH.en, in the f ourth quarter .
up from
ec..pared with the fourth quarter
c~.n •• tlon
"
In the private .ector Incr •• sed
4 . 4 perc e nt In the .hird quarter.
The Increase over the
.~
period
in the nonfar= •• ctot, hourlY
c~pen •• tl<>I1
compared "Ith 6 . 1 percent In the third quarter.
rose 7 . 4 percent In the fourth qua rter
Since the fourt h quarter of 1971 , hourly
cmopen.u tion Incruud 6 . S percent .
• n .anufacturlng the Increaoe In the fourth quarter w&O
.eotor--6.7 percent.
~e.l
hourlY
.~at
1 ••• than In the
Over the period a year ago, the saln was 6.9 percent.
co~eno.tlon
(hourly compenoatlon adjuoted for change. In the conSumer
price IndeJ<) In th e private ecunOlll)' ro .. 4.0 pucent In the fourth qWl.ttu.
• substan tial incre...
qWl.rter .
ov~r
the I e ••
th~~
ihlo ....
one percent gain which occurred In the thi r d
Since the rate. of lncrea.e In the en wore about the .,..., In both the fourth
and third quarter. , the dlffenncu In the ",in. In real hourly eoopenutlon rdhcted
the In ........ 10 hourly '","penutlon.
SIDce hourly
c~ensatlon
lalno we r e
s ~h at
greater than the productivity
Increue., wtlt lahor cos .. In the private s ector rose 2. 3 percent .
In the nonfa . .
sector , unit labor costs Increased ].0 percent afte r declining slightly In tha .econd and
third quarte,....
l"nlt labor costs In .anu facturing Increased 4 . 1 percent In the fourth
quarter after de clining In the two previous quarte .. .
"
•
• JUt ago " ... 6.6 percent.
nonfa~
•
.an- hour in manufacturie, rOO" 5.0 percent .
Du r ing the fourth quartet, hourly
1 .8 percent,
c~.red
,
The !ncu ... ot unit """labor pay:.'m," (..Ilielt Include capital coo.u=ptlon allo,;"",cu,
net
Int~test,
i;,dlact bu.in ... taxe., and profi")
PUCe"t COI'pared .. itlt .
5 .~
nonlabor pO)'D'<nts ro." 0.'
In the fourth
.lil~tly
q"att~r
Hihu
,~ .~
hy tho shup ,ioe b
poreent inc .... oe
la.,
pHc "nt --~""'n {r"",
In 'he 1',I,.U aCorlO1lly--J.3
.l"",~d
In the nO<lhno UetCe, unit
quuteT.
4 . 7 pnce nt In 'he U.lrd qUU'H .
and 2,\ percent In the nonfal"ll .ector ,
The • ., !nerea.u ..-ere
thou po« od In th ucond and thhd qu.n.ro .
",",n-ho~ • •
,
~u
0\"', h"",."~r, "al in ... nufactu.!".,
fairly ",Idupu&d "Ith In the $ector .
Tho hrgu,
(See table B,)
Table B,
Percent Chans" In f'.&n-hou<o (Pnll .. lnuy)
1972 m
lnd<at<y
Constructl,,".
0.'
..,
-0.1
L'
rude
Hn""e~,
lnsuunc_
nd Teal
e5'~'O
"
U
-5. 0
L>
10.0
- 1• J
,.,
T~&P.S?O~ t Hlcn ~.'d
public utlli,1. 5
1912
,.,
..,
:.8
-6,8
1972 Annual
..
... ,
,.,
L>
U
,.,
...
..
;
M
;
;
-1.5
prlv"c Itou.eltcld., pro,Hie,ou .
;.,
-0,2
'"'
uop.,ld
f~,.ll'·
,
wnil~
DO.' of .he fourth qua rt., lain In nonfarm
~~ - hour.
r •• ulted from eerloymenl
... or Incroa5ed In eaoh quutH In.ll thne _JO t •• cto •• of the economy.
"u only in ,""nufecturing that incruou In the hnath of the ,",orh,uk
oh&ns~
(pertent
over previous
va..
,
1972
U
m
U
M
,.,
)b.~u-
non-
bttu,-
...
,.,
'-'
0 .'
,.,
.,
• relult
,.-
Private
'-'
,.,
five
lng
,,
'-'
U
••
~uarter.
of
i oul
pd ,'at .
,..
'-'
'-'
..
,
III&r~.d
..
!!:ttug~ l.:eeH~ Ho~r.
Private
.... nu-
Toto'
Mn-
ractuttnS
pri-
~
..,
a con.lotent
at annudl rat.)
EIo21o~ ... nt
:-Ian-hours
Total
prl -
~uart.r
~·a.
Il.,..-aver. I.
,'at~
'-'
Pr1"~te
Manu-
"-fa""
t"ci!,.i!.
fae-
O. ,
-0. _
O. !
LO
, .0
'.0
'-'
,.,
'-'
I.!.
-C.5
-0. 5
,.,
LO
-0.4
O. ,
, .0
'-'
incnneo. e:o;>lo)'lllem
'"
th • pdv",e
.c~n=)'
•
Table D.
Indexu
o f t.plo:r-nt
(196J - 100)
,
1969
H
m
1970
",
H
m
"
,
1971
H
m
"
,
1912
H
m
"
r ,. lvate
NMh ....
104. :/
105 . 0
IOS . 4
105 . 6
104. J
105.6
106 . 2
106.6
10).2
10). 8
104 . 1
10).4
105.6
105 . 2
104 . 7
103.9
106.6
106.0
105.7
104.9
102.5
104 . 2
105. 1
105. )
105.5
I06.l
95.8
96 . 0
105.8
106. J
101 . 5
106.9
108.0
95.8
91 . 1
108.4
97.5
IOS.Sp
109.4p
99.1p
104.3
104.4
105.1
tlanuhotu . lng
100.1
99 . 1
95 . 3
95 . 0
95 . 3
A..'fNUAL R,EVIEli OF HOOOCTIVITY ""'10 COSTS
For 'he . . cend .ue ceo.lve ,cn, p r ivate uctoc productivity Increucd at • hotH
4.2 p","cent, the 1912 output pt. IUn-hour lncrun repreoenud an II1PTov ..... nt ove< ,he
1971 .at e of 1.6 percent and
~.s
.he be.t gain since 1966.
Althcu"," productivity huuscd both In 1911 and 1972, the gains refhcted different
underlying patterns.
In 1971, output pe ..... n- hour tspravod .... lnly . . . ruult of a
de.ellne In __ -houn, with ooly a ..,dest lain of 3.0 pe<oent In output.
In 1972, t h
,
In ract, • lenc,n.ned .verage "cr."uk " ... po.ted for the fint
avenge "eel<ly houn.
t i _ .ince 1966.
Hourly oompen.atlon Incr •• s ed at • • lawer rate In 1972 than In the prevlou. year.
[lurin g 19n the gdn "U 6.2
co~en •• tlon
&eal hourly
~rcent,
In cOOtta"' to a 7.1 percent rise In 1971.
(hourly comptn.atlon adjusted by taking Into account the
r.te o f ch a"g' of con.umor price.) Increased 2.9 percent .
."""'...... 10" daokened ."...,hat. ,he rate of
al<>wed, so the. tncr ... u
chan~
Although the ,alnl In hourly
I n the cons","", price Indn alao
In real ,,,",,,tnutlon pe. . .,,-hour vUe virtually the ..... In
unit labor co •• s, "hie" reflect the r elat l on.hlp be.".e" hourly co=pen •• tlon and
output per ...."-hour. dac Increued ..."e 01",,11 In 1972 tllen they did h
the Incr ..... "as 1.9 percent,
d~
4.9 ", rcent an"",,1 rote for the
from 3.4 percent In 1971 and
1~6~~IO
~uch
In contraat t o a
4.3
per~ent
In 1972.
oaalleT 'han the
perlod.
Prlce Increases for the private sector .Iowed considerably to &
rl' ~ ,
1911.
.od~rat~
2.6
p~rc.nt
increa.e In 1911 .
In th e n""fa ... .ector, produotivity TOU 4.1 puoert< in 1912, o","pared \11th 3.6
percent in 1911, roflec<lng an increase of 7.6 percent in output ud 2 . 1 petcent
hours.
"an~
The pa<tern wa. ot..1lu to that "hieh took place In the total ptlvaa eeono.y.
Shdlarir , lncreaa.,. In hourly cO"'l'e"""lon 'ell of! ._.t ~~6 . 4 petc.nt In 1912 coepared with 1. 1 PHcent In 1911 .
Unit labor cOSta ro . . 1. 6 percent In 1972, co"'l'ued
>11th 3.4 percen' In 1911.
Price. in 'he nont . . . .ector dec elera 'ed even acre than they dld in the p<lvote
.oono.y ~~'he
ra'. of Increa.e
e . ",tlenced the
.a~
Pcodu~tlvlty
to 2.1 percent, \lhere .. the previous year
4.3 percent laln as in the private econoay .
In a.nut.ctucl"g gain ed Ie •• r apIdly In 1972
and the nonfano Seetor.
'1~lns
Output per
man~hour
rote 4.0 percent,
t~an
In th. private
d~n
fro. 'he S.8 petcen,
eeon~y
• ••
w ••••• __ .. _
•
Inc ~o . . o
In 1971.
th o auta
at.i~.
Tho ktlho . ,010 In 1971 , kowovtr, reflec t ed I n
,o~t
""10k had It. p.""cunced I"",oct In . he "'n"he."rln,
. ho
~ebound
uc . o~.
frOR
Th e 1972
Inc ..... 10 sub. . . ntl&lly , r u t u th&<l .h o 1<>11.· . . . . ute fOT ... n"'Oet".ln.--3.0 pereeDt
over ,he las t 'wo doead...
Ho,,~lr
eo=pen ••• I"" advonco. In
~u!.c'u rtn •
re.lItnod In 1911--6.2 poreont In 1972
\lnlt labo. <".t s
I~
1~
. ~ ••
f~ o.
,h. poco
• od "Uk 6.1 po. eent 10 1911.
. .nutac t".ln. r o. . 1.1 po ' COD< h
1911, nfl e etln. . . . . . . . . . I~d"""
<<III~ •
• I~od
1972, up h <lll 0.9 p..eont 10
productlylty than In hourly ._onution .
Ttlhle I.
Y~~r
OU( put per
""",-hour
""'
q""rt"r
:r,rd ...
Tot,,1 PrIvate t:conomy: Output per M"n-hour, 1I00r1y Co .. pensntlon, Unit
La bur Cost, "nd Prices, Se""ondly Adjusted , (Index"s 1967 - 100)
Output
tfun-hours
nd . . .
th .. .
19 12
I" t • .•
2nd .• .
11"<1 ...
'"
I,ll , • ..
Anntl" I
19 It
1st ...
2 Old . . •
Jrd ...
4 tit . ..
,\""",11
1972
I "t ...
2nd .. .
3rd .. .
:'llt ...
I\, m"'l!
"'\' (;
107.0
107 . 6
108. 5
109 . 4
108 . I
108.7
109.7
110 . •
112. )
lIO.3
10 1 • 6
J 01 . 9
10 I . S
102. 6
102.0
lJO.6
1)2.5
134 . 4
110 . 5
112.2
11) . )
114 . 8 p
112. 71'
J 14.3
II 7. 1
I 18 . 9
121. 5p
1I8."p
10).4
104.4
105 .0
105.91'
10 1, . 71'
Percent Chan g e
,2
7.5
U
U
J.1
3.7
,,~. ~y
t,V \
",
2. 2
' ,0
'"
,.,
..'",
2.0
10 . 2
6.5
8_9 p
5. \>
'5:1
2.0"
4 . 21'
l'crcc:lt
L9 72
l.~!
...
) .2
2nd .. .
Jrd .
4lh • ..
~ .2
'"
I, . 'J p
._--
,--
""
Real
compensntlon
'". 21
fOotnotes
"'.
P"'
"
t a bl~
•
..,"'"
3 . 11'
138 . 8
140.7
142 . 2
14 4 .9p
14 1. 71'
I I2.2
1 12 . 9
1t3. I
114 . 2p
113 . l p
12 S. 7
125 . S
125 • 5
126.3p
125 . 71'
I I2.6
114.3
liS. R
116.8p
11 4. 9p
120.6
12 I . 1
121. 6
122.6p
121.51'
10.5
U
..
AnnulII Rate
,.,
5.'
'"
5. '
L>
' .9
",
..0
'"
'"
Pre'II,,~~
..,
'"
5.8
6 ."
••
...
lJ
",
2.J
'"
5, ,
0. '
~.O
revised
yn?;7Tt
-
•
P
2 .9 P
"2
2.9
"6
'.Op
,...,,
'"
U
-0.6
2. ,
6 • 2"
Over
"S
P" pr cllmj't<"y
119.3
118.4
136.0
'"
1 . '"
"I>
8 . 21'
IIH
111.6
110 . 6
,
'.2
5,6
l.3
3. I,p
2.'
Un
U.
'"
'.8
5. ,
6.2
2.1
117 . 0
U
,.,
2.
109. 1
133.4
122 . 0
123 . 2
123 . 9
124 . 2
123 . 4
Pr evio us gunner
-0 . 6
3.4
-0 .6
Ot"nr,~
1"
Uni t nonI ..pllelt
la h or p •• yprice
,.enlS 31 deflator
109.2
109.7
J 10 . 2
llO . S
109.9
l~g
L5
Un 1t labor
cost
m~n-hour
---~
1971
Iln nun I
Compens,,t Ion
Mao-hour 1I
""
"9p
.. 0
6.0
U
'.6
U
,. "
'"
6 .0
5.6
0.'
I, . 3
2.8
3.91'
1.7
2.71'
2 .6p
,.2.t,,
'"
L'
'"
._." _. _. - ,._-_._------- --,. ,
' .0
) .~
U
1.61'
!;-,
7,
~
.6p
2.71'
"
PrlV.,t" Nonfar .. Senor' Output 1"" M~Il-hour, Hourly eolO!,,,n,,,,tloll, Unit
Laho ~ CO"l, and PI'I~~s, Se~90nally AdJuste,l , (Indexes 1967 - 100)
Tahl., 2.
--Vca ..-
""'
qu:>rt c r
Output
'"
....tn - hour
Output
--- Compensacion per
.. an-hour
M.tn-hc\lrs
L9 7 1
h t . ..
2 n d ...
105.8
106.6
107 . .)
108.5
Hl7. I
l rd • . .
4t 10 . •.
Ann u.t l Ave.
1972
Lst .. .
2nd .. .
Jrd ...
hh ...
An nual A,·c.
109.9
lit. 3
II 3. 1
114.31'
112 .1 p
",
J rd •..
>.5
...,n-hvuf
11[,.9
117.8
120.0
122.5 r
JIB.Sp
104.5
105 . 9
106.1
107.2 p
J05.9r
137.1,
139.0
l~ 1. I
143.61'
140.)p
111.1
11 1.5
112 . I
113.? P
112.0p
5.2
6.6
4 . 31'
4.7 p
-
'"
2.'
8. •
-0 . 2
'.0
-0.6
8. •
2. 8
1O. 6
7.5 r
S.6 P
7 .6 1'
5.2
..,
'"
'" ,
•••
,_.
8.6
2.8
'.0
5 . 31'
8.71'
3.21'
•
•••
,..
' .2
'"
6 ••
,.
7. 4 p
6.4 P
O~er
prel! .. IIl~ry
'.0
125.0
I n.2
lJ3.7
US.O
IIS.lp
114 . 0 P
120.2
120.6
I 2 I. 1
Ln.7p
120.91'
10 . I
'"
'"
12~.9
12~.8
125 . 7p
125,\ P
,,---
Annual Rate
2'
2. ,
3.7 P
3. 1 I'
-0.5
-0.4
3.0 P
1. 6p
U
1
6.•
O.•
'"
...'"
~O.
' .8
5.2
'"
U
L5
0.4 I'
3.0 p
2.1 P
2. I p
'"2. 9
2.6
2. 0
J.4p
2. 1p
,7
2.'
6.2
,.,
'. 8
6.8 p
3.3 p
1.4p
U
,.
'"
L5
'"
revised
\,.
"
-_.- ... _lt7.1
118.3
U9.1
119 • 1
118 ••
>.5
'"
,.,
'" '
2.
l .. pllcit
pricc
deflator
109.5
lIO . S
III .J
ll1.3
ltO . 1
U
".
,.,
Unit nonlahor p~yments l'
121.8
123.0
123.8
123.9
123 . 2
'"
,..
'"
",
Pr"vlolla Year
,..
'"
y
--~
2.6
...
4. I P
2.7 P
Percen t Ch.,ngc
end of tahle
",
'.9
' .6
-----
~er.. P..ES'v!.,"-'!.s~l_aL~~ ~
,.,
'"
'"
8 .6
----'"
cOSt
,1,
13' .9
134.5
131.8
'"
'"
"'
"
,0<
ll(}.S
112 . 7
ltD .4
'"
1972
1st .. .
2nd • ..
3rd • ..
4th . . .
t !(m
--
--- -Unit hhor
~ompensa -
J07 . 8
108.6
10S.9
109.6
108.7
'-'
4 tll ...
Annu"l Ave. 61
1972
1st ...
2nd ...
3rd .•.
4th . . .
,\nnu,, 1 ,\v". 61
128. a
131. 2
--
102.13
101.0
)03.0
101.8
103.2
Percent Ch"ns"
1971
1st • ..
2nd • . .
See r ""tnot es
,(11\.7
\Q<l.A
Real
..,
Manu{ac ~ urlng
Tabl" 3.
Unit
Ye",r and
quarter
Output po<
.an-hOlJ r
Output
l~~l>or
Sector: Ou t put per Hlln~hour, Ho"rl~ Co.pensnlion . And
Co819 , Seuonally Adju~ted (Tllducs 1961 • 100)
1911
Is t •.•
2nd ...
Jrd •..
4th ...
IInnual Aue.
112.6
114.7
115.3
115.1
Jt4.4
J06.3
IOB.2
107.9
1011.7
107.B
04.,
1912
1" t •.•
2nd .•.
Jrd ...
4th •..
linn"" I Au., .
116,6
lIB.5
I2U,lr
120 . 81'
119,11'
III • I
115.0
117.0
120.51'
115.91'
Percent
95.3
97.0
97.4
99.71'
97.41'
a",n ge
1971
I S L •••
2nd .• .
lrd ...
4tb ...
Annu.ll Ave.
1972
1st. ..
7.7
94.4
94.)
93. 5
94.5
12B.2
130.0
131.2
132.2
130. 5
IJ~.9
~.,
'.5
M
.4.0
'.'
•••
U
J4. 8
11,5
5. ') t
7. ,
7.7
7.7
2.4 P
4,01'
12.5 P
7.51'
1.6 r
9.61'
3.41'
4.91'
6.71'
6.21'
Preulou& Yu.r
•••
7.7
'.5
'.7
B.4 r
10 , 91'
4. I ..
S.U I'
or uble
•
'-'
~. ,
7.'
'.0
5.'
10. 2 r
5.6 I'
6,Or
6 , 91'
,.
reulled
116,5
116.0
115.9
117,01'
116 , 41'
5/
5.7
'-,
_4.2
-2.0
-0.3
O ••
, •5
'.7
7.'
'.0
'-5
'-"
0.'
p. p r eliminary
109.9
110.1
110.6 ..
111.41'
110,61'
AnnulIl Rllte
5.7
7.7
7• ,
rer"ent a,ange
" '"'
"
7.0
, •7
5.'
3rd •••
4th ...
137.5
139 . 11'
14 1.41'
138.61'
Prtu l n,,~ q..'''rter
Unl t labor
coata
1n . 9
113.3
I13.B
1 14.9
114.0
107.~
- \, 1
5.'
19 72
I Bt •••
2nd . . .
lOr.)
107.6
107.6
107,8
-0.5
. 3.2
7.7
lrd • ..
4th ...
Annu,,1 Aue.
16,6
7.'
. 1.0
2nd . ••
5 •• rOOtnoto·.
13.8
Rul eo.penllt Ion
per .... n-hour 21
COIOPena.>tlon po<
_n-hour II
Kan-houn
'!!
\'3 r
3.0 P
2.BP
0.'
5.'
• \, 6
_0,6
4. I I'
2. I P
J}
7.'
7.'
2.8 r
3,4 P
'.7
,. ,
7.'
1.6 I'
••
Table
YellT and
qu arter
..
,
Output
.. tin-hour
1971
1 st ...
2nd •..
lrd •..
~ th .•.
Annual Ave.
1972
1st. ..
2nd ...
lrd ...
Output
Man-hours
UO . 7
110.6
Ill. 7
I 13. 1
112.5
l1~.O
11~.
li1.9
..
,
Co .. pensation
Mn-hour li
100. I
100.2
I 29 • 2
99.~
133.5
13 4 . 7
II 2 • 5
6
112.5
100.6
100.0
115.8
117. l
I 18. 7
117. a
120.9
122.7 r
101. 7
103.1
103.4
l)l.~
132.~
137.9
139.6
141 . 3
Percent Change Over
19 71
1 st ...
2nd ...
lrd ...
4th ...
Annual Ave.
,.,
L9
U
6.6
5.J
11.5
5.J
L5
11.0
4.7 r
Prevjou~
'.2
6.9
6. ,
J. ,
'.2
... ...
L9
'"
U
6.2r
Rest
co .. pon5atlon per
..a,,-hour 'lJ
108 . 1
10a.8
109 . ~
109.8
109 . 1
111,5
III. 9
112 • 3
Quarter
'.9
2.'
"'
9.'
..,
5. ,
L'
L'
U
I, • 2
'. 7
5. '
en d
'"
'"
6. '
'"
2.J
'.9
6.'
6 .1.
J.J
J.2
2.5
2.'
"6
2.'
'.9
6.'
6. 2
5.'
J.7
2.9
2.6
' .0
9. J r
4.9r
"'
•. 9
La
'.9
5. ,
,<
table
,. ,
9.6
,-
revised
'.2
Unit
Prof 1ts
Unit
labor
coat
Unit
non-labor
coSta 91
116.9
117.6
118.0
II 8 . 2
117.7
124 . 7
I 25. 7
128.2
129 .4
126.9
76.6
78 . 8
76.9
74.5
76.6
119.1
119 . 0
1I9.1 r
127.9
128.9
128.6r
78. J
79.8
B1. 6r
Annual Rate
U
2.5
'"
L'
2.'
Percent Chnnge Over Previous Year
,
L9
'.2
2. 9
12 . 8
'.J
5.'
J.'
1971
ht. ..
2nd .••
3rd . .•
4th •..
1972
1st ..•
2nd •. ,
3rd, ..
footnotes
..,
10.7
1972
ht •..
2nd ..•
lrd ...
".
Nonfinancial Corporat Ions, Output per M.~n-hour, Hourly Co,"pensat lon,
Unit Labor Costs , UnIt ProHts and Prices, Seasonally Adjusted
(Index es 1967 • 100)
..,
82.3
11.9
2.>
J.J
9.5
'.5
J.,
0.3r
l.Or
9.4 r
J.J
J.J
2.'
9.6
6. ,
5.'
6.6
J.J
6.J
'"
6.9
!J.O
2. '
'"
2.5
2.0
LJ
' .6
'mpllcIt
pri c e
deflator
112.~
l1l.~
113.9
113.9
113.4
1l~.8
lI5.l
IIS . 4
i./
J .2
'.J
J .6
5.J
L6
.lQ.1
9.2
11.8
2..
20.9
8.9
I, . 0
J.6
L9
,.,
J.6
2.9
LJ
9.9
if
L2
0.9 r
0,3 r
(,.1 r
..'"'",
I, . 2
2. ,
L5
LJ
rOCoT~OTES,
TAlILES 1 TO
~
SO~ Tc e:
Outpu, data fro;: 'he Bure3u of [c"n".uc ;.~dysh,
Il. S. !oc:pano:~nt of Co=nce ar.~ t he Fe<leral P.cserve Boa rd . C=penu,io" a,~ ",ao->,ouu oata fr= the Bureau of Labor Statheic""
II. S. Dc::p ut ,,*r.t of t.ilbo r a~d. tn. Burnu of [cono,.lc ....~a l y.h.
11 Wages and s a Lorin of *",ployees plus eooployeu' contr!b"tt~n.
for todd ir.sura".:;e and p r iva te be •. dit pla...,s. Except for nonlinancl a l
corpora,i<'ns, wh~u th u au no uif-Cl!;floyc d, <lM a alse inclu~e. a~
esti .. au of "agn , sa lule s and su ppl ."",nul pay,.ents tor the selt~ .. pl Gyed .
1.1 Co:o;>ensation;>n .... n-heu r a d jus t ed f o r changes In the Con s u",er
Price lr.d e x.
1/
untal
~onlabor ;>~y",ents
~ nco=e
Include p r ofi .. , de pudatl"n, interut,
and lnHuct taxes.
!!J ' Cu r rent dollar grou
gro •• pr educt.
product divided by constant doll a r
11 Pe r cent change c~ .. ?ounde d at anDual rate fro .. origln.l
dAt. nther than tndu n..",.;, ....
21
Current 'lUUtlt r divided by comparai:>h quuter • ylta\" "110.
!I Quarter l Y mca'urea adju~t .d to annual ~.tlma tes oi eutp~t
(gtess preduct e.iglnatlr.g) from the Bureau of [conOmlC An alYSiS ,
Il. S. Department of Cocc:erc~.
11
lndlre~t
Unit honlabor cosu Inclu~e <le;>r •.ciatlon, l"te ....st and
tues .
lO I Unit profits include co.;>out e pro fits and
adjust."e",.
inv~ntory
v.luulon
CHRR T 1 . PROOUC T1VI TY. HOURLY
COMPENSRTION. UNIT COSTS RNO
PRIC[S- - TOTRL ~RIVRrE ECONOM Y
(PERCENT CHRNGE FROM PRECEOING
QURRTER RT RNNURL RRTE)
OUTPUT PER MA NM OUR
,,
,,
,
,
,
_._ ..... _........
_.... _-- •.. __ .
,
----
---
~
---- -
,,
,
,, - - ------- -.
-.
"
"
,
-, - -----,,
,
... -......... ; ...... - ...... ............. .
~
0
-5
,,
COMP EN SA TI ON PER MA NM OU R
/ '_ _~'
,
,
,
15
IV :
7.S:
'-',---------;------l~J"--/l------------- "
5
,
"
"
,"
"
"
,,
,
i ,
UNI T LASOR COSTS
-L/' ./:"\
!
~'1 J!
\7!~orC - ~-------------+ --·~----- -- !--- ------·--t -----f---"---i' ----+
' - -'---- '~ i
,
,
-- ---- -------, --- ----- ---i- ---- ------- -
1\'
'
"
--7'--'
UNIT NONLASOR PAYMENTS
:
i
:
-> --- --- ~ ,-- -- - --
--C~--.
,'--
,
,
'
---,
,
i
;
3.3;
-i---- ---------
__ .1. _________
__
______ 1__ ___ ___ ._- _~_.
,
,
,
,
,
PRICE
OOlllTnl<:
,
..... ;.> ··t········~::-or·-· · --· ~ ...
,
,
. , /i-.··,
,
,
?
I :
... - -:-
)/
,
...... i ...... . .. L .-i..... l .. ' .•
,
,
L..~~~..L."~,C'~,"".11.,~"'C'~I,.J.................L. ,.~L~~~...I ~,.~ t
196'/
,
,
I
~r,',
I 'nn
1'<'11
1"'/:,14Ft
.lfW :111. l'rI;
5
0
""
J"
0
CHRR T
2.
Pt..:O[1UC' I V J 1 Y . Hl1Ut..:l
UNIT r:nGT:; fiNn
COMPE N 5~IT 'ON .
,
y
PRI ClS--PRIVRrt N[1Nf fl f'tM ;,l[ ! nl~
(P[RClNT [ttHNGl 1- IWM t-'HlClll!N(;
aURIn U< H f HNNUHl f'tH T( I
,
,
•
. :
IV
:
.7>z~:'2i7~ • ':·: [" ,u, • ~I::.:• • • : :
, ..
,
,
:,
o
,
t-_.
,
,,
,
,
CO MP (NSRTIO N PlR
MRN ~OU H
o
"
!i N I I
".. 0
J+
,,
l~
UNIT
N()NIHUnl-l PAI"MlNIt.
(\
[\. 4
j •••.• _ •••
,,
"o
\,
•
o
.
,
PI-I!Cf
0111 111 01-1
.... .... ...-.~
.
".d, 'J ,.J"
t.,
.
.
I,.,,,L,,,.I., ,., L ."
) 'U' 'I
,,
,
.)
,,
"" ..
.
",.1"
.
1 'fll\
t,,!.
, ., , , ! •• ,.,
d"
1'1//
.!J)N
,
.
,
,J.
'",
"
1 ·1
)'\/1
Ill .
)'I'/t
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@FedFRASER