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~
U. S. DEPARTMENT OF LABOR
BUREAU OF LABOR STATISTICS
USOL-1S-416
lIuhlng''''' • D. C. 20212
L . J . Fulco (202) 961-li~9i,Z1l8
(202) 961-29l3
11 . D. Hoyle
(202) 331-1384
roR nLEASE :
,,-
11:00 A.x.
lb<1day, July 28, 1975
P!IOOUCT'lVITY NOD ro5TS TN ret PRIVATE ECOlmM'f, SECOND QUARfER 197~
(,.,d Rev10ed Doota fo r Nonfln..,chl CorpouU""., Fin. Quartor 1915)
2.0 pu ce nt ..... on . 11,. a dj u oted annual rat., the Bur. ."
U.S . Deput ... nt of !..oboe oonoun.cd today.
ot Labor Statlnl •• of the
Thh '<Os th. !lnt, qUHtuly productivity
inen . . . . ince the oe.ond quuter of 1974 ocd the h r geot Incr. . . . in the _uun
.ince the fin' quarte r of 1973.
The in.run in productivity reflected a 0 . ' pu_
cent decHne In output coupled "ith a 2,3 perc.", decline In houra.
In th e "onfanl utter, pn>ducttvity Incua. .d 3.3 pu.,.,n. In the . . .ond quarto<,
. ccordins to pnliw.1nuy figun • .
InCI1t&u
dnco tho flnt quuter o f 1973, ufle cted & 0.2 perce nt Incruse In output
couphd .,ith • 3.0
decllud
The lncre... In non f .no productivity, the fi n '
La
pere~t
decline In hour •.
In the flut quonec, productivity
percent In th lo . . otor.
In mm>u f acturing, p r oductivity declined 1.8 percont In the . . c""d quarter ,
co.p &nd "ith a 1 . 9 percent decline In the pr.cedlng quarte r .
conneutl,.., qua rt e rly decline in thb sector.
Thll " .. the fourth
lWluh<=<uring output declined 7.0
~Ol"E:
a.glnning with thll p r e . . r el ..... the hruu of Labo,.
Statistics io dioc""tllluing u. . of ' h tu_ OUtput p"r """·ho,,r and
<o=pen.ation per man-hout to identi f y tho labot coapononto of productivity ""d cOstl.
The te,.,. output per hour of all penon. ,. nO'J Uled to Ikscribe tho
labo r Input In the total private .CO<I<>III)' of payn>ll ""nu_, ulfemployed p" raons. unpoid r.",lly " orhn ""d private houuhold e"'Ploy"""'
The te....
Input in
new " . . d to ducrlh ' h labo r
there ue O<'Ily payroll "",rken.
Th. changu ore of tenoinology only ; the
""dHlyln ~
unch an~.d .
coneepca r e..ain
,
appears 1n tollIe A; detail. are found in tab! u
1_3 .
financial oO'1'oratlonl 1n the first quartet "ere
Toble A.
Revlud
al." ....le ... ed
""d IUm
'"'
Output pu hour of all peroon;
Comp<lu4tion per hour
~u labor COUI
~.,
e0"'P.".. . tion ~ , hour
Output
Hours
Output per hour of dl pusons
Co"'!>"'nut 1"" per hour
~U l abo r cost.
~., compenut ion
hour
Output
today.
for non-
Su table 4.
Percent OHmge at Annua! Rate 1n ~r<>duct1vity and Coon
(SeaJIon aUy Adjusted)
lat Quarter 1975
Seo~or
f1gu~u
,..
"
ann 1975
!1anUhctur1n~
(Preliminary
Output per hour of
person a
Comp en utlon per hour
~U labor COla
hour
~" co"Ponution
(haput
Ho"ro
'"
,..
2nd
"
uart~r
,.
,,..,,,
,.,
,. ,
- ..,
,.,
,.,
,.,
U
,.,
- ,.,
U
10.2
0.'
,.,
'.0
Hours
2nd Quartor 1974
....
..
,
,,
' .0
,.,
U
,.,
,.,
...
10.7
0.'
..,
,. ,
- ,.,
...
ll .'
14.8
-14.1
-11.5
1975
,
OOtIPENSATION .1..';0 UJ!Ol COSTS
In the private sec t o r , compensation per hour of dl peroons ("hioh includes
wages, """loyer Sochl Security coo,dbu. io,,", =d othe r fring e benefits) increased
7.3
perc~t
qu.o.rtu.
in ,he ueond quarur, c","!,ared with a 10.8 percon' locru.se In the Hnt
This the In /)ourly c""'l'""ut1on " . . pntly olf. . , by the Inc ...... .,
\n pro-
ductivity , 10 thu uoit labor cos," rose 5.2 percent, c<>mpued vith a 10.7 pe rcent
Increau One quarter e arl1or.
In th e second quarter, ,he productivity incre",,"
mat ched the long u . . 1966 , 1974 average rate.
~al
cO"'PenaaUon pe, hour (hourly
compensation adjusted by the eon • .,.., Pr ice Index) tncreaud 1.2 pucent In the
s econd quartor, compand wHh. 2. 7 P<Otcent Inc ...... d,,"ng tho Unt quarter.
\I""
the utend cO<I.ecutive incre . . . in rod hourly <ompmut1on.
In ,ho nonfarm sector, hourly componsatlon
~
11>11
tncrea.~d
9.4 percent inore..,e in the preceding q"UUt.
7.3
~rcent,
co=par~d
with
Since ptod"ctivlty lncnued
significomtly, ""it l<Obor c.,.u rOle 3.9 percent -- a considerably dower rate of
increase thom in the fint G"artu, ..,hen these cos ts rose 11..4 percent.
The
in c rease in productivity wu greater than the 2.5 perce nt a venge annual nte fro",
1950 to 1974.
Rul hourly cOOIj>en . .tion tnenaoed 1.2 percent in the second qu a ner,
after incre.,inli 1.3 percent one quarter earl1u .
In tbe manufacturing u ctor, hourly compenu tion increased 7.7 puoent oomparod
with. 13.8 p&rcen t inonaae during the firH quarter .
percent .ince productivity decJ.iud 1.8 percent.
lXI it labor coot. r"'e 9 . 7
However , the tnere. . e in unit
labor coon in the secODd quarter wu con.id e utJ.y $~ller thon the firot qu.ner
incna . . of
1974 .
~al
2l,~
percent lind " . . the . .... UUt increase .ince the seoond quarter of
compensation per hour of all penon. inctea.ed 1.6 pOTe e nt, compared
with. 5.4 p&roent inc,... • .., in the preceding quartu .
The implicit price deflator ("hich rdlects <hang .. in unit labor coot • ..,d unit
n<>nlabor p.,--ntl) incru. . d .t an annual ute of 5.0 pereent in t h private sectOT
and 3.9 percent in the nonfarm seotor.
In the p<~cedin, quarter, the inereaus wue
,
8.&
pO~cent
.od 12.3 percent, respectively.
REVISED FIGUR!:S FOR FIRST QUAJt'l'ER, NONf'IlIA."lCIAL OOR!'(lRATIONS
Productivity increaud 3.9 percent In the fiut qu a rter in the Nonfiunchl
Corpoua .ector, whloh Includ e all corvontiona doing
except
in the Ibind Statu
cudlt a sendes, nod and coumodity broken, and insuran ce co",!,aniu,
b"'~.,
acc<>rdlng to revised figure. .
3.4 percent,
bWliD~U
bu ~d
i t ".d prevtou.oly bun reported .u an inc,.., ... of
on p<el1fl1nary data.
The chaos," reflecu an u!"'ud revision of
the output mo asur_ , which de clined 13.9 percent 1n the first quart er, r ather than
14.3 percent, as .. ... .... ported pr.vlously.
u tiaate.
Se~
The .... "OS nO change in the e"",loyee-hour
tabl e a .
a djusted CPI which i . uud to . djus t hourly c""'Pe nsation wao nvtud to incorporate
n~
seasonal f actor • .
Tabl & B.
Preliminary and Rev:1ud lIoaour... . Fint Quarter 1975
Peroent
Ch ~ ge
Prom prevloW! Qua rte r at Annual
Rat~
(Susonally MjuoUd)
Nonfinancial Corpor ations
Output per all
~~loy . e-hour
Compeno a tion pe r hour
lklit labor co . . .
R.od c""Pensatlon per hour
Output
lIoun
Preliminary
,.,
,..,.,
'-'
..
12 . 1
12.2
-14. ]
-17. 1
-13.9
,'-'
- 17 .1
TUH 1.
HOURLY
TOTAL
CO"P~MSATIOII.
~RIYAT(
Pr.RSOMs,PROnOCTlYITY
PRleu. S(ASOHALlY AOJ1'STED
ECOHOI<y,~ll
A~n
IINIT COST .
AfM
Y(~R M'~
11U~Ml(R
,
'"""
,
"
,
'"""
MI:IIAl
I97 S
I,n
OUTPUT P III
OliTPUT
HOIIR
Of All ~ (RSOMS
HOURS
OF All
P[ASO ~S
COI'PENSA~ER
TION
"OUR(I)
HlOH ES
COSTS
In.:
166. 7
110.1
112. I
IH.I
1M. ~
lG~
III . 1
llO.1R
Ill.)'
116.1
116. I P
lo~.q
lU.6R
157.6
IO~.l'
I7I.1P
15~ .6P
112 . 2
llO. ,
109 . 9
Ill. 1
109 . q
Ul.~
.. ,
109 . ,
.. ,
-1.'
.1
..
,
- , .1
-1.9
-5 . I
12.1
I (I • 7
•••
•••
-10.'
-0. 1
-I. J
·2. I
- 5.5
L'
•• •
· n. 1
-I. q
•• •
-I.IR
-6 . )
-6.'P
-'of
-S.!P
..,
-, . I
-I. 5R
-'.5 R
I '0 . (I
HI, ,
n3 .5
H'.6
1'5.0
"9.9
lU . 1
U6.5
U •• O
"1.6
Itl. 5A
It ' . 2P
lS) . )P
B9 . 9
~~
2. 7 R
I •IP
•••
•••
10. D
•••
•••
"
10. 7R
~.
2P
-l.U
-I.H
-I • lR
II.'
10.1P
J
...,.,
•••
10.6
•••
10. 1
H.I
•••
9. I'
ILti
(I .
•••
5 . 0P
•••
- 2. ~
-n.lR
-0. )P
I
'.IR
".6P
10 • 1 R
PRrVIOIIS YEAR(6)
-I. ~
lSI. ,
II • 5
IS .,
n .'
~ .
116. 1
In.2
Hl.'
..•••,
,..
.....,
16. S
12 . 6
, 2 •,
1l. 3
7.1~
J>t:~CE~T CHAN~E FROM CO~R£SPONnIN~ QUARTER M
- 1.6
- 2. 1
-1. 2
IHPllCIT
PRICE
OH LATOR(I)
IH . I
PlRC{NT CHANGE FROM PREV IOUS QIIUTtR AT ANNUAt RAT[(SJ
-7.6
'""
-'.7
- 2. 6
,
-I. lr
"
FOOTIIOTES fOtlOlllNG HBlE
LAROR PAYH[NTS())
ll~.g
IB.9
12' ."
lB. :
"
'R " I'SEn
r~ 'f'l<
lllHNMY
UN I T HON-
t~~OR
19~1.IOO
10.
HE
lINIT
III . _
1l1.1R
11I.1R
110. ,
112.1
112 . ,
MINUAt
"
r(lf' PEN SAnON PfA
IlOIIAn)
II. )
I O.IP
...
JULY,."
SOURer,
1915
~U R(AI)
OF
l~80R
SHTISTICS
,.
TABl~
PRI~ATE NO~FAR" ECDNOMY,All P,RSONS,PRODUCTIVITY
~OUR lY CONPEIJSA T ION, tJ~ I T COST ,
PRICES, SEASG'lAllY ADJUSTED
'""
YEAII AIm
QUARTER
"
,
'"""
H74
MNIJAl
,
B15
"
,
'""
"
,
"
,
1 974
"'"
OUTPUT
IIOUR
m PERSOflS
I S /I,
"'
III • r,
111. 0
llQ. ~
109 ...
12" . ~
12 .. . I
U9 . g
IH . •
In.l
II J • S
121 . 6
127 . ~
IH._
1"11 . 5
129 . I
HO.O
IS1. 0
IH.5P
MENTS(})
11 J. I
111. }
162 .1
109 . 7
1H .f
108 . 9
116 . 2
IG6, S
17 I • 1
HO.O
Ll6.3~
106.0P
111.7P
109,2R
I09.6P
117. 7
IO~.3P
15~.lP
HI." r
J~6,1
160 . _
lH.2
...
PF.RCf.HT C, irANGE FRO" PREVIOUS Q"MHR
-6 . 5
·2.0
-2 . 5
-! . 6
-2.~
-O.~
-l,~
-9. l
'1 • 2
U
-6 • \
- 2.~
-2.6
U
·lJ . I
O. 2 r
-11. ~
-I. OP
-2 • •
-1. SR
}.J?
"
-2.~
-6. I
-6. ,p
-1. 1 P
FOl lOIJING
TAB~E
••
,.,
-5.0
11 ."
".
""
1.3.
""'".,
~
,.,
-• .2
-5 . 1P
",
•••
"'
L~8. ~
-2.5R
- 2•~ R
-\. 9
12.0
11.
-1. 6
lJ . I
1l.1
11. 2
..
~
D.9
~,
-1. 6R
-1. 0
""
-I.~
11 • 0
-0 . 9R
·O.6P
12.7
10.2?
I?
..
,
'"
9•7
9.9
S.or
1~2.2
H5.7
n.5
I~ •1
11 • !
J.~?
11. ~
11. S
D.9
10 .0
'"
,
16.6
PREVIOIJS YEM(61
-l .l
IH.O
RATE(5)
16 . 2
1l.7
12 . 6
15 . 1
1. J II
) • 1P
q . "R
PER CENT CHANGE FROM CORRESPONPlllG QUARTER
-1.
A~NUOl
8.~
L'
IM PLIC I T
PRI CE
DEfLA TOR(.)
1967 - I O~
110 . 6
-l.D
lI N I T NOfl·
lA~OR PAY-
161. 9
-2.3
? _ PRElIMINARY
""
HOU~(2)
IINIT
tABOR
COSTS
In. ''
no .•
AN~ U Al
F OO T ~OHS
""
T I ON
llO.3R
llO.}R
lO9.6R
l O!.9R
'""
n - ~EVISEO
HAl.
~O"PfNSA·
r,()/.IP ENSAl iON
IlOUR(l)
11 1. ~
11 1. ~
1 11 • ~
llO .J
-0.6
-1. 5
-2.1
-5.3
I Q7S
'"
MI.
PERSOfIS
-2.<
-2.5
-2.9
- J. 6
"
,
"
t!OIms
INOEUS
MINUA l
I HS
OUTPUT
",
11. ~
..,
12.7
H.!
I I • OP
.'.
1915
JULY
SOIJRCE: SUREAU
"'
1 L. I
12 . l
,.~?
..,
10 . S
12 • •
1J . S
I I. I
I J. I
10 • 5 P
LABOR STATIST ICS
TABLE _l. LMIUfhCTlJRI Uf, $ [ CTOR: 01:TPlI1 I'fll HOUR OF ALL 1'[1'$011<-"
COtIPfliSAnOtI. 1"111 LMOR COST~,. SfASOtIALl':' ArJUSrff1
"'·'·'"'-'·I","~CO""·,",""·,~,c.'"'~·O·"·
TPUT I])
1l01l1~ OF
QUARTER
fiLL PERSOUS
HOi'IlS
CnrlP[U'>1,TlOIi PER
IInur or AI L
---_ .. -
REA L tOl\PF .. s"nOt:
Pf R IIOUII O~ ALL
PfiIS()NS( \)
---------------.""''"",.,.[~"'1%1~ 1 n~
1.r;lIRLY
PfIlSOIIS(
UN 11 LABOR
cnST
~)
---------- ---
Inri
I
In.2
02. }
'""
129. ~
129.4
12'1.1
129.3
132. q
nt.t
126.5
125.91'
U6.2
1H .11'
"
,
"
"'1II1IAL
I()L2
1 D2. 4
iJ2. S
127. ~
lQ2.fj
'1<).
n
101.9
I S~ • n
1 2n. 1
108.1R
109.6
109. 11'
109. ~
109.1
lSQ. II
163. ,
16ft, J
161 .7
122.8
n~. 2
nO.7
12~ . 6
IHS
,. ,
19H
I
"
'-'
'-'
91. 9
1 H. 1
911.6
177.~P
PFIICENT CHAUG E FROII PREV I OUS QUA RTER AT "NIIUAl II"TE (5)
...
• 5.8
-
~.6
- :s. 3
LO
- 0.'2
-l~.
-D. r,
9 ••
- 0.6
-
I
7.911
"
1.8P
-31.7
7.0P
-25.311
- S. 31'
'""
AllIIUAL
117.8
IH .01'
0.9
1. 4
G.'
g .~
\ 0.2
5. 311
>..
L)II
'-'
1. 911
1. 2R
l3. q
9, ,
L'
...
11 . S
15 .0
1975
2J.6
9.7 P
..
.. ,
PFRCWT CHAUGE FIWtl PRFV I OUS UAR (5)
19H
..,
g. ,
g ••
I
"
'""
B.SR
7• 7P
0 .•
ANIIUAL
g ••
L'
0.'
0.'
•••
0.'
LO
0.'
LO
'-'
10k
,
••
'-'
..... ,
L'
In. l
1.011
II. ,
'-'
'-'
10 . 1
10.'1
•••
1915
-12.2
I
"
-\4.11'
SEE FOOTNOTES FOtLOl'llllG TABLE I,.
Il
~
I' ~
n(VISEO
PR£lIHIIiARY
-1l.0
-l1.SP
D.2
11.4P
2 • 01\
14. 7
1. 5P
l lr • 8 I'
SOII RCF.: II lI Rf. A.11 or I,AlHlR
JIII.Y
•
Ins
~Thrl~Tlr$
TARLE ~ . 1I0NF I I(AI(C I AL CORPORAl ION S : PROD UCT I 'II TV, HOURLY conPEUSAT I 011
lIN IT LABOR COSTS, UIIIT PROFITS AND PRICES, SEASOtlllLLY 1I0JUSTEn
YFAn
,'.'10
'UAlIH"
,
'"""
Ins,
OUTPUT
PPI .... U
EI'PLOYEfIIOUP.
HOU.~LY
OUTPU T
HOIl~S
rOMPEr'SAT IO"
n,
RfAt
!'DllRlY
COMPFN-
UII IT
lMIOR
COSTS
UN IT
NOH-
TOflll
I'll IT
COSTS
LMon
COS TS("·)
~""T!OIH~1
<',
B7~
AIIIIUAL
,
lqH
"
'""
MII IIJIlL
,
118.5
118.5
117.1
11 7. I
I 30 • ~
130.2
1 2q • 5
It6.0
110.2
11 8 . Q
I 29. 1
I O~. ~
IIf.2R
121.~"
1112.7
,.,
..,
! . ti
U
U
l0 9 . ~)
llQ.1I
In 7. C
157. 1
161. 5
165. ,
169.5
163. )
111.11"
,
1~ O .9
1~1.5R
151.~R
150 . '1"
l~o. ~
II,~.
t
H2 . ~
I
~
7.q
I~ •9
13. q
51!
11 • ~
ll.~
0 .5
..,
J. ')n
2.
~I!
12.5
n.9
R. '
O.J
10 • 5
U
1. 8 I(
LO
~
H .I
n .1
11. 3
1 P.. "I
12. 2R
, • 8n
1. 2
2 .1
-10.2
- 2.5
,..
,.,
u
..,
'-'
,.,
'-,
2• ~
'.'
1975
- 7.n 'l
,
..
SE E FOQTUOTES FOtlOlllNG TMLE 'I .
p . PREUIIIIIMlY
II • 1 ~f;'1!S[n
08.'
IB.O
1 J6. 7
HO. ')
H5.5
B!l.O
~.
2.~
l.~
3 • 91l
- 0 .3 R
13 ~. 2
137.9
P"I
1 1. 7
L 1
1.,
Mn!U .... l
D2,6
136. b
.IIPL.C I T
pn. CE
IlF FlIITOR
<IQ)
86 • a
'In • 9
QO .6
U .B
~,).2
J 26 • n
12 <) • a
U,.3
137. n
l}1.5
no.s
PEIICEt! T CHMIr.[ FROII FilE'IIOUS !"lUAIIHR AT AUNUAt RATF. (5)
1975
'""
Ill.OI!
Ill. I
un.,,!1
In9.'1
110.6
III'IT
PRO f IT S
! 2.
7. 'II'
2~.
4R
H.6
11.8
-12. }
2 (I • 2
12.~
,.,
I! . (;
LO
11. 3
11. }
11.0
1.'
12.R R
• 6.
R~
11.
~
'.0
In .7
PERCEIIT CIIIIIIGE FROI' PIIEVIOUS HAIl
..
u
..,
,
1(1.0
•••
11.0
2. ~ R
,.,
~;
.a
11. 2
II. (I
,,.,
..,
'.'
..
U
10.7
11. 7
1 2. 80
n . 6R
1l.5
8 . <;
I • 711
1'1 . R
~ . ~
1.8R
I . qn
11. 0
1..
12 . J
ll . n
II. ~
1~ • 2
12 . n
ILl
10. ,
o•0 11
11.1R
17. }
5 . (,
6. q
,.,
SOURCE : AUPF.~U OF lllAQR ST ATISTICS
dULY :C , \975
FOOTNOTES.
TABLES I TO 4
SOURCE: Ou t put data from the Rureau of Economic Analyal •• U.S.
o f Commerce and the Federal Reserve Roard . Compenaation
and houra data from the Rureau of Labor Statiati~B, U. S. Depar~ent
of Labor and the Bureau of Economic Analysis.
Depart~nt
(1)
Wag es and 9ala r l •• of employee. plus employera ' contribution.
fo r aoci al insursnce and priv ate benefit plana . Except for
nonfinancial corporationa, where there are no aelf - employed,
data also includea an eatfaate of wages, salariea, .nd aupplemental paymente for the aelf- employed .
(2)
~penaation
per hour adjusted for changes in the Conlumer Price
lnde" .
(3)
Nonlabor payments include pr ofitl, depre ciation, intere.t, rental
income and indirect taxe ••
(4)
Current dollar grol. product divided by constant dollar IrOl1
product.
(5)
Percent change compounded at annual rate from orIginal data
rather than index number ••
(6)
Current
(7)
Quarterly ueasurel adjulted to annual estimates of output (gross
product originatIng) frOG the Bureau of Economic AnalY11. , U.S.
Department of eocmerce.
(8)
Unit nonlabor cOltS include depreciation, interest and indirect
taxes.
(9)
Total unit costa i, tha aUM of labor and non-labor eosts.
(10)
~uarter
Unit ptofits include
adju~t"'e!lt.
dividad by comparable quarter 8 year aio.
corporst~
profits and inventory valuation
PRODUCTIVITY . HOURLY
CHRRT 1
COMPENSRTION. UNIT COS TS RND 'PRICES
TOTRL PRIVATE ECONOMY
(PERCENT CHRNGE FROM PRECEDING
QURRTER RT RNNUAL RRTE)
15
OU TPUT FER HOUR OF ALL PE RS ONS
..••
------ ---.. - ••-------------.-•
•
. -- --. -.-----:-----•
•
----------~-- -
••
•
II
• .. -----.---------------_.
.. -.-.--.-.-------------.-•
•
10
" "'.'.~ __________ l __ .. __.. _----.!. -- --- --- ~:-~-
5
•
---~
••
•
••
•
0
•
------------_._-----------_
...__ .. _-.--- --_._-----------_._----.--.-.-_
..•
·•
.•
.
:
-5
: :
15
COMPENSRTION PER HOUR Of RLL PERSONS
•
••
•
------------• ------ -- --..,.•• -- -- --_ .. . ----- -- .--•
•
0
.
.•
UNIT LRBOR COSTS
·
•
,- ---- -- -- --- -~-• --- --- --- ----~- -_.---.. -.. - ~ - - ------- --- - ---- --- --- --- +-
·
.
,
5.'
·
.
. ._---_.--.
--------.-------------.-----------------_.
j
_-----...•------------
----------~ ----------. - . : - . ----• ..
".....,
•
10
5
0
15
I I
--------_._--
\0
•
•
.. ---- -;--
-------------1- ---.<-"'
5
••
0
••
••
•
••
••
•
•
•
• .. --.---_.. _-------------.-------------.--------------.-------------.-------------.---------_
... _
•
•
•
•••
•
]
15
20
••
UN I I NONLRBOR PRYMENTS
__
••
••
••
•• ...
•
•
• •
••
-------------:-------------
I I
•
•
••
•
------------~-.- .... -. -- -- {- - --••
••
••
•
5
•
••
•
••
•
"
••
••
II
IMPLICIT PRICE OEf LRIO R.
----_._._--_ .•••-. __ . __ ._--_ .••-. __ ._---_. __ .p_._._
•
.. _......• -......... .. .
• ••
••
••
••
5.0
••
_._. __ .. _--{-------_ ..... +-_
.••
••
-5
15
10
5
0
1969
1970
IS7\
Isn
1973
197 4
1975
.JUL 28. 1975
CHRRT 2 . PRODUCTIVITY . HOURLY
COMPENSATION UNIT COSTS AND PRICES
PRIVATE NONFARM SECTOR
(PERCENT CHANGE FROM PRECEDING
QUARTER AT ANNUAL RATE)
OUTPUT PER HOUR Of ALL PERSONS
----••
, ..........,·,·,,
--- ----------i--------------:-------------
.
,
ID
•,
o
,
,
----- --- --:--,, -------- ---
---- · -- - - --- -i-············~-·,
, --- -- ----- -~---·---------i-------------.,
,
,
-,,-,
COf'\PO~SAT
I ON
---- ------ -- -.-,, --- --- --- --- , --- ----------,
PER HOUR
,,
,
PERSONS
OF
II
','. .~..~·~..;·t~-".."""'-"·-T;~",---- --? :-~-
,
----- -- :-- -- --- --- --- .:...--, --- --.--.,
.
..
.-------------.--------------.-------------,------------
:
II
.--------------------'-_,,:
3_~
,',------------01-------------+---, , --------
/"--/"-
-./
,,
,
,,
,,,
,,,
,
i,
UNIT
NONLASOR PAYMENTS
,
,
,
,
,,,
-------------------------.-,--------------.-------------.-------------.---,,
,,
,,
,
--. -. --- --. --i-- ---- -- --- -.-._. _.. -- --- ._-,,
,
,
I!
4 _\
:
:
-----~ -- -- -- - -,,
,,
._--_._._+-- .. __ ... _.-- --- --- --~,, --- -------- -,--,, ---- --- --- i--
,,
,.;"-- --~, ---,
,,
,,
,
,
,,
,
,,
---t, --- --- ---,
,,
,,,
,,
-_._----------_ ....,,, _--- --- .. _..
,,
,
__ ____ .______ --i-------------.i-----·-----·-.1----·-··--·-··
,
,
,
"
,,
'
,
,,
' "
"
,
-- - --- --- --. -t --.--•. --. II1PLlCIT FRICE OEfLATOR
_. -.~,
--~-,,
,
,
,
, --- ------ ... "
,
. _. _..
- , -----.....
- ... _. .
,
"
,
"
"
,
,
,
,
-_. --
-.
--.-._.
-.-
-
...-.. ._- --
_............ -.--
, . . j,............. t·..
,
•.................!-........,,;'"';"'-''C--:.:,:'" t·, ............,
1969
19 ? O
197 1
19?:?
"
3 .9
-- ---------
....... .. _._.-
,,
1973
,,
\974
JUL
IS
ID
5
"
IS
ID
5
o
"
IS
ID
5
o
,
·--·-·-------i-------------~----- - - ----. ~
,,
""
,,
"
,
-5
o
,
,,,
,,,
,
,,
UN! T LASOR COSTS
,
,
,
,
------------_._------------.---------------------------_._-----------_.,,
,
,,
,
,
,
,,
,,,
,
,
,
·
5
-5
"
IS
ID
.. ......
5
o
19 75
28 , \975
CHRRT 3
PRODUCTIVITY. HOURLY
COMPENSATION UNIT COSTS ANO PRICES
NONFINANCIAL CORPORATIONS
(PERCENT CHANGE FROM SAME
QUARTER A YEAR AGO)
,
·
,,,
,,
:
,
•
OUTPUT PER EMPLOYEr-HOUR
,
,
,"
,
,
. - - - - •• __ • • • • , . _ •• _ • • _ • • _ •• ••• - • • • __ • • • • _r. _ •• ___ • • • • _ . , •• _ • • • • • • • • • • , • • • • • • • • • • • • • "" • • • • • • • • • • • • •
,
,
,
,
,
"
,
,
,
~
·············i·············}7--=4'~--~---~--~--~--+--~--"'--c:<:::,"··i ·-"·-- ·· --- ··!····"'~~·.·;'
...,
.. _..... -- _ ,, - ........ _.
,,
,
,
,
,
- .~.--
,,
,,
iO
5
o
{'
,
---- ,•... _..... _... ,,.............
, -. ... -- .... _.•.
,,
15
_,, ........... ..
,
I
15
I I .0
COMPEtlSATIOtl PER EMPLOYEE-HOUR
-5
--··-:-:-:-:-~-:-:-:-:-:-i;:-:-:-:-:-:-:-:-:-:-~-:-:-;~t-:-;-;-:-:-:-:-:·:-:-:·_-:-;r~-:-:-:-:-:-:-:-:-:-:-:-:-;i;-:-:-:-~-:-:-:-:-:-;-;-:-:;t-:-:-:-;-;-'-'-~-:-~~,r--·· .. ·...... ·
.:........... I-- ...... ----.~ .......... - -.. ~ - ...... -•• -..I ............. ~ ............. ~ ..... -- ..... .
""
,,
iO
5
o
,,
Uti I T LABOR COSTS
,
,
.. -... - . -. -. - ! - .. - -........ ............. -:- ............. t·· .. · ...... ..
,,
,,
,,
,,
, _.. _-- ... - ......................................
,
,,
,,
_.....
.. ................
,
,,"
,,
.
.
~
I
15
11 . 3
........ +"', :: .......... .
iO
.. - ......... .
5
,
,,
o
I
·
15
I I .9
..... .-- .... ,,,,........... ..
.
·············i:·····7·--········t···········~········· .... j.... --. -- .. ,,,, .. .. _. ... ,,
,
,
,, ... --- ._- .. __
, .. -. __ ._.--,
, .... ..... _
,, ..... .........
..................
...... . ...
-.. __ ... -_ .. -..-,,
,
,
.
,
, .
,,
UtllT tlOtlLABOR PAYMENTS
, ............, _..... -_ .. - , ---- - ...................... -- ,-,,
,,
,
--
_,'._
_
-
-
-
_
_
_
"
,
I
,,
1
I •S
IMPLICIT
PRICE
OEfLATOR
,:
, ..... - .-...
," .. ' ..........
,. ......... _.......
,,
. __ ._ ......................
_-...
_
.....
,,
,,
,,
,
,,,
,,
,
,
,
,
,
,
" ' ,
--... -... --. ·1··· .. · .. ·
··· 4 --.' ......... f-· ..- .. · .. -· -- ........ - .. ~- --- --- -- .. -.
,
"
.
,
--.
-
~.--
- --- -
-
iO
5
o
-5
15
iO
5
o
1969
1970
1971
1972
\913
197~
JUL 2A ,
1915
1975
CHART 4
COSTS.
UNIT
PROF ITS . AND PRICES
UNIT
NONFINANCIAL CORPORATIONS
(PERCENT CHANGE FROM SAME
QUARTER A YEAR AGO)
,
UNJ
T
LRBOR
COSTS
,
,
,:
•
•
•
•
•
·········· · ··i····· · ··· · ···,·· · ··· ····· ··· ~· - ········ ···1·············1··
•
•
,,•
,,•
,,•
,
,
,
..............•......
-. -.--_ ,. _. _....•............
,,
,,
,,
,
,
I I .3
........ +, ............ .
>5
>0
5
0
"
,,
:
UN I T NONLRBOR COSTS ,,
...... -.... -·1··- . -- . -- . - -- ~ - .. -- -.-.. -+.-... -- ---- 1'-- -" . -- -'·'i' ......... -..
,
,
,
,
,
>5
,
,
,,
,
,,
.............•.............•......
-.
,,
'
,,
,,
,
......•.............•.............
>0
5
,
12.B
0
>5
TOTAL UNIT COST
· .. ·· .. -- · --- ,, -- .. ---· .. · .. ,·
, .. · .. ·· .. · .. ·,, .. · .. · .. · .. ··l·· .. ···· .. · ......
,,,
,
~
,
,,
,
................... _.- .. .... ...........................
,
,,,
,
,
............. ... _-_.,
,
,,
,
,
"
,,,
T PROFl T5
,
- ._ --
,
-- - ................
,
i
..............:- ......... -
,,
.
.
,
• .......... _......
•
•
• ............ _._-- ....................
_._-1971
1972
5
0·6
0
,
,,
,
,
, ........... ..
~
.......... +, ............ .
,,
,,
,,,
,,,
.
...•. ..... _.. _.. _-. -._-_.- .... - ................... _.... _...
.... -.. -.
•
•
•
•
••
•
••
1970
>5
>0
,,
.
1969
0
20
.. .......... ·l·· .. · ........ .( -- . -- . -- - - -. -.,- ... -. -..... -.
,
,,
,
,,
,
5
,,
............. ;, .. . - .. ---.... ,......... .
,,
,
. ........... ............. , ........ ..
.. _. - ! -- .- -- .- .....
,,
10
.
-~-.--
,"
,,
,,,
,
->0
->5
-20
,
- -- ....................
1973
-5
-.. _....... .
197 ~
-JUL <c ,
1975
\975
- 25
@FedFRASER