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News Bureau of Labor Statistics United States Department of Labor Washington, D.C. 20212 -2Table A. Productivity and costs: (Seasonally adjusted) Sector Historical, technical Information: (202) 523-9261 Current data: (202) 523-1221, 1208 Media contact: (202) 523-1913 Productivity USDL 82-269 For Release 2:00 PM EDT Thursday, J u l y 29, 1982 Business, Nonfarm Business, and Manufacturing Sectors Second Quarter 1982 Productivity in the business sector Increased at a 2.9 percent annual rate during the second quarter of 1982 according to preliminary measures announced today by the Bureau of Labor Statistics of the U.S. Department of Labor. The productivity increase was greater than the revised 0.8 percent annual rate of advance during the f i r s t quarter. The second-quarter gain resulted from an increase in output and a decline in hours, in contrast with the first-quarter productivity rise, which reflected declines In both measures. During the f i r s t Business Nonfarm business Manufacturing Durable Nondurable Unit labor cost Real hourly compensation Output Hours A summary of second-quarter changes, as well as revised first-quarter productivity and cost measures for nonfinandal corporations, also reported today, appears in table A; details appear in tables 1-6. All of the productivity and cost measures in this release are based on revised output and compensation measures released by the Bureau of Economic Analysis of the U.S. Department of Commerce on July 21, 1982, as part of the regular revission cycle of the National Income and Product Accounts - - the Gross National Product measures. These revisions affected th.e productivity and cost measures beginning in 1977. In addition, the measures of labor input used in the computation of productivity and cost measures have been revised to take account of the latest Information in adjusting for seasonal fluctuations and of the results of the 1980 census. Appendix tables 1-6 contain data for the 1977-1980 period, which reflects the revised output and compensation estimates. Historical information, which shows the small effects of the revisions in the labor input measures mentioned above and other minor changes, is available on request from the Office of Productivity and Technology, Bureau of Labor Statistics, Washington, D.C. 20212; telephone (202) 523-9261 The word "private" w i l l no longer be used as part of the series t i t l e of the business sector measures prepared by the BLS. No change has been made in the definition or content of the measures affected by this change in nomenclature. Although the productivity measures relate output to the hours of all persons engaged in each sector, they do not measure the specific contributions of labor, capital, or any other single factor of production. Rather, they reflect the j o i n t effects of many influences, including new technology, capital investment, the level of output, capacity u t i l i z a t i o n , energy use, and managerial s k i l l s , as well as the s k i l l s and efforts of the work force. 2.9 2.3 0.9 0.8 0.9 7.1 6.2 7.6 7.7 7.9 4.1 3.8 6.7 6.8 6.9 2.4 1.5 2.9 3.0 3.2 1.7 1.8 -5.0 -6.2 -3.4 -1.1 -0.4 -5.9 -7.0 -4.3 Fourth quarter 1981 to first quarter 1982 REVISED Nonfinandal corporations In manufacturing, productivity increased at a 0.9 percent annual rate. During the f i r s t quarter of 1982, manufacturing productivity decreased 2*6 percent. Hourly compensation First quarter 1982 to second quarter 1982 PRELIMINARY PRODUCTIVITY AMD COSTS In the nonfarm business sector, productivity increased 2.3 percent. quarter productivity rose 2.6 percent in this sector. percent change at annual rate 3.2 11.6 8.1 8.0 -5.2 -8.2 Second Quarter 1981 to second quarter 1982 PRELIMINARY Business Nonfarm business Manufacturing Durable Nondurable 0.5 0.2 -2.6 -3.4 -1.3 8.2 8.2 8.8 8.9 8.9 7.8 7.9 1.3 1.2 11.6 12.8 10.4 1.8 1.9 2.0 -2.2 -2.3 -9.8 -12.0 -6.5 -2.6 -2.6 -7.4 -8.8 -5.3 First quarter 1981 to first quarter 1982 REVISED Nonfinandal corporations Note: 0.1 8.8 8.6 1.2 -2.7 -2.9 Detail may not agree with total due to rounding. Business sector The productivity increase during the second quarter of 1982 reflected the f i r s t gain in output since the third quarter of 1981. The 2.9 percent productivity advance during the second quarter (seasonally adjusted annual rate) resulted from a 1.7 percent increase in output and a 1.1 percent decline in hours of a l l persons. The decline in hours resulted from a 0.1 percent drop in the length of the average work week and a 1.1 percent f a l l in employment in the sector, the smallest of three successive quarterly employment declines. -3Hourly compensation, which includes employer outlays for wages and salaries as well as payments for social security, private pension and health plans, and other employee benefits, increased at a 7.1 percent annual rate during the second quarter. This rise was the smallest since the 7.1 percent increase recorded during the second quarter of 1978. During the f i r s t quarter of 1982, hourly compensation rose 9.6 percent. After allowing for the increase in the Consumer Price Index for All Urban Consumers (CPI-U), real hourly compensation grew 2.4 percent during the second quarter, compared with a 6.1 percent gain during the f i r s t quarter of 1982. Unit labor cost - - which shows the effect of changes in hourly compensation and productivity — increased 4.1 percent during the second quarter, compared with an 8.6 percent Increase during the f i r s t quarter of 1982. The second quarter increase was the smallest since the 3.2 percent rise during the third quarter of 1977. The implicit price deflator - - which measures price change in a sector and reflects changes in unit labor cost and unit nonlabor payments combined - increased 5.2 percent, compared with a 3.8 percent gain during the f i r s t quarter. Compared with the second quarter of 1981, productivity in the second quarter of 1982 increased 0.5 percent, output declined 2.2 percent, and hours of a l l persons f e l l 2.6 percent. Hourly compensation rose 8.2 percent — 1.3 percent in real terms when the rise 1n the CPI-U is taken into account - - and unit labor cost went up 7.8 percent. The implicit price deflator increased 6.5 percent over the 4-quarter period. Nonfarm business sector Productivity increased at a 2.3 percent annual rate 1n the nonfarm business sector during the second quarter of 1982, reflecting a 1.8 percent gain in output and a 0.4 percent decrease 1n the hours of a l l persons engaged in the sector. During the f i r s t quarter of 1982, productivity rose 2.6 percent, but output and hours declined 4.2 percent and 6.6 percent, respectively. Hourly compensation Increased 6.2 percent during the second quarter, compared with a 10.1 percent annual rate of increase during the f i r s t quarter of 1982. This was the smallest Increase in hourly compensation since the 5.5 percent increase of the second quarter of 1973. After adjusting for the increaselin the CPI-U, real hourly compensation increased 1.5 percent, compared with a 6.6| percent Increase during the f i r s t quarter of 1982 (annual rates). Unit labor cost rose 3.8 percent during the second quarter, the smallest rise in this measure since the 1.1 percent gain during the f i r s t quarter of 1977. During the f i r s t quarter of 1982, unit labor cost rose 7.4 percent 1n this sector (annual r a t e ) . The implicit price deflator increased 5.0 percent during the second quarter, compared with a 3.3 percent gain one quarter e a r l i e r . Compared with the same quarter of 1981, nonfarm business productivity 1n the second quarter of 1982 increased 0.2 percent, output dropped 2.3 percent, and hours of a l l persons declined 2.6 percent. Hourly compensation rose 8.2 percent — 1.2 percent after allowing for the increase 1n the CPI-U — and unit labor cost Increased 7.9 percent. The Implicit price deflator was 6.9 percent higher than a year e a r l i e r . Manufacturing Manufacturing productivity Increased at a 0.9 percent annual rate according to preliminary second quarter measures, reflecting a 5.0 percent decline in output and a 5.9 percent decline in hours of all persons. Although output and hours f e l l during the second quarter, the declines were not as large as the decrease during the f i r s t quarter, when manufacturing output f e l l 14.6 percent and hours dropped 11.7 percent (annual rates). The smaller decline in hours during the second quarter reflected a 0.2 percent increase in the length of the average work week, the f i r s t such gain since the second quarter of 1981. Employment dropped at a 6.0 percent annual rate, the third consecutive f a l l in this measure. Since the third quarter of 1981, manufacturing employment has fallen by almost 1.3 million — nearly 75 percent of the decline in durables. Hourly compensation advanced 7.6 percent, compared with an 11.1 percent rise during the f i r s t quarter of 1982. Unit labor cost rose 6.7 percent during the second quarter of 1982, significantly less than the 14.1 percent rise one quarter earlier. Compared with the second quarter of 1981, manufacturing productivity in the second quarter of 1982 declined 2.6 percent, output f e l l 9.8 percent, and hours of a l l persons dropped 7.4 percent. Hourly compensation rose 8.8 percent — 1.8 percent 1n real terms —and unit labor cost advanced 11.6 percent over the 12-month span. Revised measures Revised first-quarter productivity and cost measures were also reported today for the nonfinandal corporate sector. Productivity increased at a 3.2 percent annual rate 1n the f i r s t quarter; output declined 5.2 percent while employee-hours f e l l at an 8.2 percent annual rate. Hourly compensation rose 11.6 percent, and unit labor cost increased 8.1 percent. A comparison of these revised measures with preliminary values published May 26 is presented in table B. Appendix tables 1-6 contain 1977-1980 data affected by the GNP revisions mentioned on page 1 . The components of the National Income and Product Account used in the computation of productivity and costs were revised begininq with 1977. Manufacturing output has also been revised, incorporating most recent information provided by the Internal Revenue Service to the Bureau of Economic Analysis, U.S Department of Commerce. -5Table B. Nonfinancial corporations: preliminary and revised first quarter of productivity and costs, quarterly change at seasonally adjusted annual rate. Percent __ Measure . Prelimi nary Revised -0.3 -4.7 -4.4 3.2 -5.2 -8.2 11.6 8.0 8.1 -39.4 3.0 Productivity Output Hours Hourly compensation Real hourly compensation Unit labor costs Unit profits Implicit price deflator 8.6 5.2 8.9 -51.4 2.4 - A v E AP UN'T AND ALL °ERSO\S =>E»SCNS INOEXE S I 19;1 1OC.7 3 1OC.7R 131.0= 1 CO.?R III NCN- I ^ B L I C IT HCJ9 (2 ) COST . 49 . 79 13 9 . 0 3 141.53 144.23 147.9* 131.33 1 33 . 4 R 137.49 138.39 136.5P 1 3 3 . SP 141 .9R 144.69 143. 1 P 13 5 . 2R 14C.4R 1 51.OP 152.5P 136 . 3 R 138 .7P 14c.C3 1 47. ?c 1977=100 1:9 . 1 9 1C9 . 1 R 1C9 . 6 0 1 C7 1 J3 . 3P 133.39 103.5R 1 07. 5 P 14C.0 9 142.5P 145.69 142.29 96 36 95 95 ANNUAL i::.7fi 1C£ . 9 3 138.2P 1 <•«,. I P 3, . : • I l 100.5 9 101.2P KG i o 5. a P 1 3 5 . 5P 151.79 154.3? 97 -3! 1 3 11.79 7.50 1 3.3 2 = 7° Kft I 5.69 7 I I I 1.13 -2.9R 1 1951 UNIT H0U9 C J A 9 T £ S '. 1 1.53 ANNUAL 1 332 C ?'ll . 29 . 5° .6R 7 . 4? -0 0 . ?P 9.00 - r, .70 - 1 .1 P 5.6" 7.1? - 3.6P 2.53 -5 1 . 1 R .7 = 5.79 7.55 7.63 25.03 4 . 9P 12.59 2.93 11.63 6.60 9. IP £ .ZP 7.70 13.39 3.5c . 1 9 3. t 4. 1 P -5.°R 7.5 = 3.S9 5 . 2P .70 . 1 9 . 39 3.00 C . 9 3 7.13 7.03 13.7R 1 4 . ?fi 13.9R 11.09 -c . 7 R 7.79 13.3P .39 3.69 7.3P \ PERCEIW 1 .49 2 . 5fi 2.2X 0.9=, c ANNUAL 1.?« 2.53 I -C.3R C.5P • I3 1=31 I I III IV 1932 II C.TNOTt, 1. 1 3 -2 . 1 R • 7P ".2P 1C.5" 9.7o 9 . 4P -c -0 -1 -3.2R 0.7R - 2 ". 6 P 9 . 69 3*.2P 1 3 . 4= 4 . OF F J L> t Y 2 9 , 1932 10.4R 9.4R 9.2o 3.9 9 . 5R 6.9P fc.5P TABLE 2 . NONFARM EUSINESS SECTOR, ALL PERSONS: PRODUCTIVITY, HOURLY COMPENSATION, UNIT LA9CR COST/ A N D PRICES/ SEASONALLY ADJUSTED C L T P U T PER H0U9 OF ALL P E R S O N S YEAR AND QUARTER HOURS COPPENSA- PERSONS HCURd ) OUTPUT REAL CCPPENSATICN PER •CU«<2> UNIT LABOR COST LNIT NONLABCR P A Y - IMPLICIT PRICE 131 .5R 132.8R 136.7R 138.4R 136.5R 138.9R 142.3R 145.5R INDEXES 1 9 7 7 = 1 0 0 1931 I 11 III IV 100.4R 100.OR 100.OR 99. 1R 1C9.2R 1C9.CR 1C9.1R 1C7.1R 103.6R 109.0 109.1 108.1R 139.5R 142.OR 145.1R 147.7R 96.CR 96.CR 95.4R 95.3R 139.OR 141.9 145.1R 149.OR ANNUAL 99.9R 1C8.6R 108.7R 143.6R 95.7R 143.89 134.8R 140.8R 1932 I II 99.7R 100.3P 1C6.0R 1C6.4P 106.3R 106.1P 151.3R 153.5P 9 6 . 8R 97.29 151.7R 153.1 P 136.6R 139.1P 146.6R 148.4P 1031 I II III IV 4.9R -1.3R -0.39 -3.59 7.2R -0.8R 0.3R -7.1R 2.2R 0.5R 0.6R -3.7R 11.8R 7.1R 9.OR 7.3R 0.4R 0.1R -2.6R -0.5R 6.6R 8.6R 9.3R 11.2R 24.9R 4.OR 12.1R 5.1R 12.1R 7.1R 10.28 9.2R ANNUAL 1 .4fi 2.2R 0.7R 9.7R -C.7R 8.1R 13.1R 9.7R 10.1R 6.2P 6.69 1.5P 7.4R 3.8P -5.1R 7.8P 3.39 5.OP 8.8R 7.1R 7.7R 8.9R 14.1R 13.8R 13.6R 11 .2R 10.4R 9.2R 9.6R 9.6R PERCENT CHANGE 1932 I II -6.6R -0.4P I II III IV 1982 1.7R 2.5R 1.6R -0.19 1.2R 4.2R 3.6R -0.2R -0.4R 1.6R 2.OR -0.1R 10. 6 R 9.8R 9.4R 8.8R -0.6R O.OR -1.2R -0.6R 2.2R 0.7R 9.7R -0.7R S.I R 13.1R 9.7R -2.4R -2.6P 8.4R 8.2P 0.9R 1.2P 9.1R 7.9P 3.8R 4.8P 7.4R 6.9P -3.CR -2.3P -0.7R 0.2F I II ANNUAL R A T E C 5 ) -4.2R 1.8P 1 .4R ANNUAL AT 2.6R 2.3P PERCENT CHANGE 1981 FROM P R E V I O U S Q U A R T E R FRCP C O R R E S P O N D I N G Q U A R T E R OF P R E V I O U S JULY 2 9 , 1982 S O U R C E : 3UREAU OF LABOR S T A T I S T I C S R=9EVISED P = PREL IMINARY YEA9 AND C LAR TER I II III 11 III IV I OJTPJT PE9 ALL" EMPLOYEE HCJP 1C2.0R 1 C 2 . 9B 1C2.OR EVPLCYEE hQLPS OUTPUT -0 .26 .1R -2 .5R c C. t fi 1 . 59 -7. 39 C. £ P 1 .3R -5 . 1 9 3.2fi -5.29 -5.29 SEE FOOTNOTES R=9EVISED ?=PRELIMINARY 2.19 3.OR 1-7S C.5P FOLLOWING HOUFLY COMPEN£iTICN (1) 9EAL HCLPLY C Cv ° E \ " SATICNC2) INDEXES 1v77=1 C 3 'JM T LA S 0 3 C3ST UNIT NCNLA=0P CCST(c) T0TAL LNIT COST (9) UNIT P R O FITS (1C) IMPLICIT PPICE DEFLATES 111 ,C9 111.19 111.59 °ERCENT I II HI IV YEAR(6) 1.C9 4.49 4.1R 0.3R TABLE 7 . 1 fi 0 . 49 a. 1 9 11.6H CHA\GE -1.1R 1.39 2.4R -C.2R 0. 19 -3. 0. 30 7 .3P 2 • 2R 10 . 9fi 8.C9 S.1R 5.7c 10.29 3.±9 1 2 . 5R -2C.59 25.49 - 2 5 . °o 7.49 -39.49 FPCI" C C 9 R E S P O N D I NG C U A S T E 9 O F F P E V I C U 3 1C.S 5.99 9.3R 9.09 -0.59 0.29 -1.4R -O.SR 8.5P 6.7R 7.5K 6.4R 16.SB 14.25 12.S? 1 3.4 F. 7.13 1C.2» P. .9F i.QR YEAfi(s) 1C.4P S.79 8.9R 9.5s 14.90 20.7? 15.7 7.9? 11.39 9.6? 9.7R 9.60 6. jULy ?9, 1932 S O U R C E : B U R E A U CF L A 9 C P STATISTICS YEAR AND QUARTER C I T P U T PEP HOUR OF ALL P E R S O N S OUTPUT (7) HCURS OF ALL PERSONS INDEXES 1981 I II III IV ANNUAL 1932 REAL CCfPENSATIGN PER I-CURC2) CCPPENSATICN PER HCURM) UNIT LAeCR COST 1577 = 1 CO 105.2R 105.OR 1C5.0 102.8R 1C6.7 1C7.5R 1C7.4R 1C2.CR 101.5R 102.4R 102.3R 99.2R 142.6R 144.9R H7.3R 15C.7R °8.0R 97.9 96.8R 97.2R 135.5R 138.OR 140.3R 146.6R 104.5R 1C5.9R 101.3R 146.4R 97.5R 14C.0R I 1C2.1R 98.2R 96.2R 154.7 99.0 151.5R II 102.3P 99.7P 154.OP 56.9P PERCENT 94.8P CHANGE FRO** P R E V I O U S 157.SP QLARTER AT ANNUAL RATE(5) 1931 I II III IV ANNUAL 6.3R -0.7R -0.1R -8.2R 2.8R 6.9R 2.8 -0.4 -18.7 2.3R 0.5R 3.6R -0.3R -11.4R -0.5R 12.7R 6.6R 6.8R 9.6R 1C.2R 1.2R -C.4R -4.6R 1.6R -0.2R 6.OR 7.3R 6.8R 19.4R 7.2R 1982 I II -2.6R 0.9P -14.OR -5.OP -11.7R -5.9P 11.1R 7.6P 7.6R 2.9P 14.1R 6.7P PERCENT I II III IV SEE F O O T N O T E S R=REVISED P=PRELIMINARY FOLLOWING CHANGE QUARTER OF P R E V I O U S 1 2 . 2R 1 0 . 7R 8. 9R 8. 9R 0.8R 0.9R -1.7R -0.6R YEAR(6> 9.3R 5.9R 4.OR 9.8R 2.8R 2.3R -0.5R 1C. 2R -C.2R 7.2R -8.OR -9.8P -5.2 -7.4P 8. 5R 8. 8P 1.0R 1.8P 1 1 . 8R 11.6P TABLE 6. JULY 2 9 / 1 9 8 2 SOURCE: BUREAU O U T P U T »ER HOUR OF ALL P E R S O N S OUTPUT (7) HCURS OF ALL PERSONS COMPENSATION PER HCURO) REAL CCKPENSATICN PER hCUR(2) 9 8 . 2R 97.9R 96.7R 97.4R 102.7R 104.CR 103.9R 100.OR 142.7R 144.7R 147.2R 151.OR 103.4R 1C6.1R 102.6R 146.SR 97.6R 141.6R 100.2R 100.4F 56.8R 5 5 . 29 96.5R 94.8P 1 5 4 . 8R 157.7P 99.1R 99.8P 154.4R 157.OP CHANGE 8.OR 4.5R -1 .6R -21 .1 FRCP P R E V I O U S C H A R T E R AT ANNUAL -0.2R 5.3R -0.3R -14.2R 12.8R 5.7R 6.9R 1C.99 RATE(5) 4.3R 6.5R 8.3R 2C.5R 1.3R -1.29 -4.5R 2.9R 3.2R 2.5R -0.6R 1C.5R 0.1R 7.1R -5.1R O.SP -17.6 -6.2P -13.2R -7.CP 10.3R 7.7P 6.8R 3.OP 16.1R 6.8P I II III 3.OR 4.8R 5.4R -1 .7R 6 • 7R 9 .1R -3 .8 -3 .4P -9 .6 -12 .CP SEE F O O T N O T E S R=REVISED P=PRELIMINARY FOLLOWING STATISTICS 137.OR 139.2R 142.OR 148.7R I II PERCENT OF LASCR 1977=100 1C7.0R 1C8.2R 1C7.8R 1C1.6* PERCENT STATISTICS UNIT LABCR COST 104.2R 104.OR 103.7R 101.5R 8.2R -0.7R -1 .3R -8.OR OF LABOR M A N U F A C T U R I N G S E C T O R : PRODI,CTIVITY/ H O U R L Y UNIT LASOR C O S T / S E A S O N A L L Y A D J U S T E O ( U ) INDEXES I II III IV CORRESPONDING -3.5R 1.2R 2.7R -2.1R -3.0 -2.6P TABLE 5. D U R A B L E COMPENSATION/ YEAR AND QUARTER FROM -1.0R 5.8R 7.5R -2.9 2.6R 4.5R 4.7R -0.8R CHANGE FROM CORRESPONDING QUARTER OF P R E V I O U S YEAfi(6) -4 • 6R 1 .8R 3 .5R 12. 7R 11. OR 9. OR 1. 3R 1. 1R - 1 . 6R 9 .5R 5 .9R 3 .4R -6.OR -8.8P 8.4R 0.9R 1.9P 12.7R 12.8P e.9P TABLE 6. JULY 29/ 1 9 8 2 SOURCE: BUREAU TA3LE 6. N O N D U R A B L E M A N U F A C T C R I N G S E C T O R : P R O D U C T I V I T Y , H O U R L Y C O M P E N S A T I O N , UNIT L A B O R C C S T , S E A S O N A L L Y A O J U S T E D C 1 2 ) C U T P U T °ER HOUR OF ALL P E R S O N S OUTPUT (7) HOURS OF ALL PERSONS INDEXES FOLLOWING 1977=100 99.7R 99.9R 99.8R 9 8 . 1R 141.8R 1 44.4R 146.7R 149.6R 9 7 . 5R 97.7R 96.5R 9 6 . 5R 132.9R 135.6R 137.1R 143.1R 106.2R 1C5.6R 99.4R 145.6R 97.OR 137.1R 104.9R 105.1P 1CC.4R 99.5P 95.7R 94.7P 154.3R 157.JP 93.8R 99.6P 147.2R 149.7P CHANGE FROM PREVIOUS RATE(5) 9.OR 8.3R 4.6R 1 S.5R -0.3R 9.6R -0.7R 7.3R -9.3R -4.3P 13.2R 7.9P 9.6R 3.2P 12.1R 6.9P 1.6R 1.0R -0.4R -6.9R 1 .9R 1.0R 0.9P -8.4R -3.4P FROM CORRESPONDING QUARTER OF F R E V I C U S YEAR(6) 9.4R 5.6R 4.5R 1C.0R 11.5R 1C.0R 8.4R 8.7R 0.2R 0.2R -2.2R -C.7R -0.3R 9.6R -0.7R 7.3R -4.CR .-5.3P 8.SR 8.9P 1.3R 2.OP 1C.8R 1C.4P 0.1R 4.6R 5.3R -2.4R -1.8R 0.4R 1.5R -1.2R 2.2R 1.9R -1.8R -1.3P -5.7 -6.5P TA8LE AT ANNUAL 1.2R 0.6R -4.8R C.39 5.2R 0.3R 1.4R -15.1R CHANGE QLARTER 12.SR 7.6R 6.5R 8.2R 3.5R -0.7R 1.8R 2.OR 4.2R 3.7R -1 . 1 R SEE FOOTNOTES R=REVISED P=PRELIMINARY UNIT LABOR COST 1C6.4R 1C6.5R 1C6.9R 1C2.6R PERCENT I II III IV REAL CCMPENSAT I C N PER hCUR(2) 106.7 106.5R 107.OR 104.6R PERCENT II III IV COMPENSAT I O N PER HCUP(I) 6. JULY 2 9 , 1982 SOURCE: 8UREAU FOOTNOTES, SOURCE: COMPENSATION TABLES OF L A B O R STATISTICS 1-6 C U T P U T D A T A FRO!*1 B U R E A U C F E C O N C IC A N A L Y S I S , U . S . D E P A R T M E N T O F C O M M E R C E , A N D T H E F E D E R A L R E S E R V E E O A R D . AND HOURS DATA FROM THE eUREAU C L A B O R S T A T I S T I C S , U . S . D E P A R T M E N T O F L A B O R , A N D T H E B U R E A U CF E C O N O M I C A N A L Y S I S . RELIABILITY: BASED ON DATA C O V E R I N G THE E P I C D FRCM T H E F I R S T Q U A R T E R OF 1 9 7 6 TC T H E F I R S T Q U A R T E R OF 1 9 8 1 , T H E P R O B A B I L I T Y IS 0 . 9 5 T H A T T H E I N T E R V A L B E T W E E N - 2 . C A N D 2 . I N D E X P O I N T S C O N T A I N S T H E R E V I S I O N O F T H E I N D E X C F P R O D U C T I V I T Y I N T H E P R I V A T E B U S I N E S S S E C T O R F R O * T H E F I R S T TC T H E T H I R D C A R T E R L Y P U B L I C A T I O N CF T H E E S T I M A T E . WAGES A N D SALARIES C F EMPLOYEES PLUS EMPLOYERS' CONTRIBUTIONS F O R SOCIAL INSURANCE A N DPRIVATE BENEFIT PLANS. EXCEPT F O R NONFINANCIAL CORPORATIONS, WHERE THERE A R ES O SELF-EMPLOYED, DATA ALSO INCLUDE A N ESTIMATE O F WAGES, SALARIES, A N D SLpPLEMENTAL PAYMENTS F O R T H E SELF-EMPLCYED. (2) COMPENSATION ( 3) NONLABOR (4) CURRENT (5) (6) (7) CUARTEPLY MEASURES ADJUSTED T O ANNUAL U.S. DEPARTMENT C F COMMERCE. P E R HOUR PAYMENTS ADJUSTED INCLUDE F C R CHANGES PROFITS, "RCDUCT I NT H E CONSUMER DEPRECIATION, DOLLAR GROSS DIVIDED PERCENT CHANGE COMPOUNDED A T ANNUAL CURRENT QUARTER DIVIDED e Y COMPARABLE B Y CONSTANT RATE FRO*' QUARTER INTEREST, DOLLAR ESTIMATES INDEX RENTAL GROSS T H EORIGINAL A YEAR PRICE F C RA L LURBAN INCOME, A N D INDIRECT CONSUMERS. TAXES. PRODUCT. DATA RATHER THAN INDEX NUMBERS. A G O . C F OUTPUT (GROSS PRODUCT ORIGINATING) FRCM T H EBIREAL O F ECONOMIC ANALYSIS, (8) (9) TOTAL (10) UNIT (11) T H E DURABLE SECTOR I N C L U D E S T H E F O L L O W I N G 2-DIGIT S I C I N D U S T R I E S : PRIMARY METAL/' F A B R I C A T E D METAL PRODUCTS," NONELECTRICAL MACHINERY; ELECTRICAL MACHINERY; TRANSPORTATION EQUIPMENT; INSTRUMENTS; LUMBER A N D LUMBER PRODUCTS; FURNITURE A N D FIXTURES; STONE, CLAY, & GLASS PRODUCTS,* A N D MISCELLANEOUS MANUFACTURES. (12) T H E NONDURABLE SECTOR INCLUDES T H E FOLLOWING 2-DIGIT S I C INDUSTRIES: AND LEATHER PRODUCTS; PRINTING A N D PUBLISHING; CHEMICALS A N D CHEMICAL PRODUCTS; FOODS; A N D TOBACCO PRODUCTS. (13) SCHEDULING C F T H E RELEASE O F T H E N E W CONSUMER PRICE INDEX FCR A L L URBAN CONSUMERS (CPI~U) PRECLUDES T H E U S E O F REAL HOURLY COMPENSATION (HOURLY COMPENSATION ADJUSTED F C R QUARTERLY CHANGES I N T H E CPI~U) WITH PRELIMINARY PRODUCTIVITY AND COST MEASURES. THESE WILL 3 E PUBLISHED TOGETHER WITH REVISED OUTPUT A N D LABCR INPUT MEASURES WITH T H E NEXT REGULAR EDITION C F PRODUCTIVITY A N D COSTS, APPROXIMATELY 3 C DAYS AFTER T H E PRELIMINARY MEASURES. UNIT PROFITS CCST I S T H E S U MC F LA50R INCLUDE CORPORATE A N DNONLABOR PROFIT COSTS. A N D INVENTORY VALUATION ADJUSTMENT. TEXTILE MILL PRODUCTS; APPAREL PRODUCTS; LEATHER PRODUCTS," PETFCLEUM PRODUCTS; RUBBER A N D PLASTIC THE PRODUCTIVITY A N D ASSOCIATED COST MEASURES IN THIS PRESS RELEASE DESCRI3E T H E RELATIONSHIP BETWEEN CUTFLT IN REAL TERMS A N D T H E LABCR TIME INVOLVED IN I T S PRODUCTION. THEY SHOW T H E CHANGES FROM PERIOD T O PERIOD IN T H E AMOUNT C F LABOR TIME REQUIRED TO PRODUCE A UNIT OF OUTPUT. ALTHOUGH THESE MEASURES RELATE OUTPUT T O HOLRS CF A L L PERSONS ENGAGED IN A SECTOR, THEY D O N O T MEASURE T H E SPECIFIC CONTRIBUTIONS CF LA909y CAPITAL, OR A N Y OTHER FACTOR OF PRODUCTION. RATHER, THEY REFLECT T H E JOINT EFFECTS CF MANY INFLUENCES, INCLUDING CHANGES IN TECHNOLOGY; CAPITAL INVESTMENT; LEVEL O F OUTPUT; UTILIZATION O F CAPACITY; ENERGY A N D MATERIALS; T H E ORGANIZATION OF P P O D U C T I C N ; MANAGERIAL SKILL; A N D C H A R A C T E R I S T I C S A N D EFFORT O F T H E WORK FORCE. A P P E N D I X T A B L E 1. BUSINESS HCLRLY C O M P E N S A T I O N / UNIT L A B O S SECTOR/ ALL P E R S O N S : P R C O U C T I V I T Y , C O S T / AND P R I C E S / S E A S O N A L L Y A D J U S T E D SEAL HOURS OF ALL PERSONS HOUR QUARTER CF t TICN PER hCUR(1) INDEXES HCURC2) UNIT L-NIT NON- CCST "IENT S( 1 ) IMPLICIT DEFLATC 1977=100 99.4 99.6 100.9 100.5 97.C 99.5 1C1 .5 1C2.C 97.6 99.9 100.6 101.5 97.5 98.9 101.0 102.9 99.fi 99. 6 10C.2 100.5 98.1 99.3 100. 1 102.3 96.9 99.2 1C2.0 101.8 97.7 99.3 1CC.8 1C2.2 ANNUAL 10C.0 1CC.C 100.C 1CC.0 100.C 10C.0 100.0 1C0.C I II III IV 100.5 10C.7 130.6 100. 8 1C2.7 1C5.5 1C6.2 1C7.4 102.2 104.8 105.5 106.6 105.4 107.3 109.6 112.2 101.3 100.3 100.6 100.6 105.0 106.5 108.9 111.4 1CC.6 106.3 1C8.7 11C.9 1C3.5 106.5 1C8.8 111.2 ANNUAL 100.6 1C5.5 104.9 108.6 100.9 108.-0 106.7 1C7.5 I II III IV 5.7 0.9 5.4 -1 .5 1C.5 10.4 8.5 2.1 4.6 9.5 2.9 3.6 7.5 6.1 8.S 7.7 0.2 -0.8 2.4 1.3 1.7 5.2 3.2 9.3 1977 I II I II IV 1978 1977 ANNUAL 1978 I II I II IV ANNUAL I II III IV 5.C 6.7 6.1 5.7 2.4 6.6 4.1 7.7 1.2 5.1 6.4 5.6 -0.3 1.2 -0.5 0.7 2.6 11 .7 2.4 4.9 2.9 10.4 3.C 4.2 1C.2 7.1 8.9 1C.1 2.9 -1.8 -0.8 O.C 10.6 5.9 9.4 9.4 -4.9 25.6 8.7 8.2 5.2 12.1 9.2 9.C 0.6 5.5 0.9 8.0 6.7 7.5 PERCENT 1977 12.1 9.8 1 1 .9 -C.8 4 .4 6.4 7.9 7.3 2.2 2.1 3.1 2.6 8.6 4.9 FRCP C O R R E S P O N D I N G CHANGE 2.1 4.2 4.7 5.1 8.2 7.6 7.6 7.5 QUARTER OF P R E V I O U S YEARC6) 2.2 0.8 0.9 0.8 5.S 5.5 4.4 4.8 2.6 6.0 a.<? 8.1 4.-7 5.6 5.9 5.9 ANNUAL 2.4 6.6 ',.1 7.7 1.2 5.1 6.4 5.6 I II III IV 1 .1 1.2 -0.3 0.2 5.8 6.1 4.6 5.3 4.7 4.9 4.9 5.1 8.2 8.4 8.5 9.1 1.5 1.2 0.4 0.1 7.0 7.2 8.5 8.S 3.8 7.3 6.5 8.9 5.9 7.2 8.C 8.8 ANNUAL 0.6 5.5 4.9 8.6 0.9 8.0 6.7 7.5 1978 6. JULY 29/ 1 9 8 2 R=REVISEO A P P E N D I X T A B L E 1. BUSINESS HOURLY C O M P E N S A T I O N , UNIT LABOR YEAR AND QUARTER OUTPUT OUTPUT PER HOUR HOURS OF ALL PERSONS SECTOR/ ALL PERSONS: PRODUCTIVITY/ CCST/ AND PRICES/ SEASONALLY ADJUSTED COCPENSATICN PER HCUR(I) REAL CCfPENSATICN PER HCUR(2) UNIT UNIT NON- COST M£NTS(3> 114.8 117.9 121.3 124.1 111.6 113.0 113.4 113.2 IMPLICIT DEFLATOR INDEXES 1977=100 1 979 II III IV ANNUAL I II III IV 1980 ANNUAL 1 979 I II III IV 1C8.C 1C7.5 1CS.0 1C7.9 I II III IV ANNUAL 107.5 107.7 103.7 108.? 108.2 119.1 99.4 119.5 112.8 117.2 1C7.9 1C4.7 1C5.3 1C7.C 108.7 106.6 106.5 107.7 126.7 1 3C.0 133.1 136.1 97.0 96.4 96.9 96.2 127.6 132.3 134.7 137.0 116.0 116.2 120.6 124.6 123.7 126.9 129.9 132.8 98. o 1Co.2 10 7.4 1 31 . 4 96.7 1 32.9 119.3 128.3 0.6 4.C 0.3 11.2 8.6 9.8 8. S -3. ^ -3.6 -4.8 12.7 11 .2 12.2 9.5 2.0 -1.3 1 .8 -0.3 9.2 9.2 8.5 6.2 2.3 3.2 9. 7 -1.4 1C.7 5.7 9.0 0.2 -11 .4 2.1 6.8 -0.4 -7.4 -0.5 4.7 12.5 1C.7 10.1 9.4 -3.5 -2.1 2.2 -3.1 11.8 15.7 7.3 7.2 1C.0 C.8 16.2 14.0 11.2 10.8 10.C 9.3 -0.7 -1.5 -0.7 10.4 -2.8 11.2 5.8 9.4 1C.9 6.2 4.3 2.2 9.9 9.2 9.C 8.3 I II III IV FRCM C O R R E S P O N D I N G QUARTER CF P R E V I O U S YEAR(6) 5.2 1.9 1.7 0.4 5.2 2.8 3.C 2.1 9.3 9.7 9.9 9.6 -0.4 -0.9 -1.6 -2.6 -0.9 2.3 3.2 9.7 -1.4 10.7 5.7 9.0 -1 .1 -1.6 -C.5 0.2 -0.1 -2.6 -2.5 -0.8 1 .1 -1.C -2.0 -1.0 9.9 1C.4 10.5 1C.7 -3.8 -3.5 -2.1 -1 .7 11.2 12.3 11.0 10.5 4.0 2.8 6.4 10.1 8.8 9.2 9.5 10.3 -1.5 -0.7 1C.4 -2.8 11.2 5.8 9.4 -0.7 FOLLOWING 2.6 5.3 1 .4 -C.6 0.6 -4.3 2.6 2.0 ANNUAL ANNUAL o.e -0.9 0.0 -0." -1.3 -1.6 SEE FOOTNOTES R=REVISED P=PRELIMINARY 113.7 116.2 118.6 120.4 1C7.8 I II III IV 1980 100.8 99.9 99.C 97.8 <59.6 PERCENT CHANGE 1979 115.3 117.7 120. 5 123.0 99. 3 93.2 98.9 99.3 -1 .3 -2.3 -2.1 -0.7 ANNUAL 1930 100.4 99.8 99.3 90 . 1 TA9LE 9.3 1C.7 11.4 11.4 6. JULY 29/ 1982 S O U R C E : BUREAU OF LA8CR STATISTICS QUARTER CCMPENSATICN PER HCURS OF ALL HOUR PEAL CCMPENSA LNIT NON- UNIT IMPLICIT I II III IV 99.3 99.9 100.6 10C.4 57.C 9 9.6 1C1.4 1C2.C 97.7 99.7 100. S 101.6 97.3 99.0 10C.9 102.9 99.6 99.7 100.1 100.5 93.0 99. 1 10C.3 102.4 96.8 99.6 1C2.3 101 .4 97.6 99. 2 1C0.9 1C2.1 ANNUAL 100. C 1CC.C 100.C 10C.0 100. C 10C.3 10C.0 100.C 100.4 130.8 1 0C . 6 100.8 1C2.7 1C5.8 1C6.4 1C7.8 132.3 105.C 105.7 106.9 105.5 1C7.3 1C9.6 112.1 101.3 100.8 1C0.6 100.5 1C5.1 106. * 108.9 111.3 99.9 105.1 107. 2 108.9 1C3.4 1 C 6. C 1C8.3 110.5 ANNUAL 100.6 1C5.7 105.C 108.6 100.9 108.0 1C5.3 1C7.1 I II III IV 5.7 2.5 2.9 -0.7 11 .0 11 .0 7.4 2.6 5.0 8.4 4.3 3.4 6.8 7.3 7.8 8.2 -0.4 0.3 1.5 1.8 1977 I II III IV 1 978 1977 ANNUAL I II III IV 1978 ANNUAL 1C.7 12.1 11.3 -3.3 1 .1 4.7 4.7 a.9 4. 1 7.1 6.9 4.7 2.2 6.7 4.4 7.5 1.C 5.1 6.9 5.7 -0.1 1 .6 -0.6 0.6 2.5 12.9 2.2 5.3 2.6 11.1 2.9 4.6 1C.7 6.7 8.8 9.8 3.3 -2.1 -0.8 -0.3 10.8 5.1 9.6 9. 1 -5.8 22.4 a.4 6.5 5.1 10.4 9.2 8.3 0.6 5.7 5.0 8.6 0.9 8.0 5.3 7.1 3.6 7.2 9.3 7.5 4.9 6.C 6.2 5.7 PERCENT CHANGE FROM CORRESPONDING QUARTER CF PREVIOUS YEARC6) I II III IV 2.2 2.0 2.5 2.6 4.7 6.5 7.8 3.C 2.4 4.5 5.1 5.3 7.9 7.5 7.3 7.5 o.e 5.5 5.4 4.7 4.8 ANNUAL 2.2 6.7 4.4 7.5 1.0 5.2 6.9 5.7 I II III IV 1 .1 0.9 0.0 0.3 5.8 6.3 5.0 5 .6 4,. 7 5.3 4.9 5.3 8.5 8.3 8.6 9.0 1.7 1.1 0.5 0.0 7.3 7.4 8.6 8.6 3.2 5.5 4.8 7.4 5.9 6.7 7.3 8.2 5.7 5.0 8.6 0.9 8.0 5.3 7.1 1 977 1978 ANNUAL 0.6 1.9 0.7 0.6 6. JULY 29r 1982 SOURCE: B UREAU OF LA8CR S T A T I S T I C S R=REVISED Ao^ENDIX TABLE 2. NONFARM HOURLY C C M ° ; N S A T I O N , UNIT GUARTER HOUR OF ALL PERSONS 0, u HCURS OF ALL 3USINESS S E C T O P , ALL F E R S O N S : P R O D U C T I V I T Y , L A B O R C O S T , AND PRICES/- S E A S O N A L L Y A D J U S T E D COMPENSATION PER UNIT TICN'OER HCURC2) UNIT NON- IMPLICIT COST INDEXES 1977=1CC 1979 I II III IV 100.3 99.4 98.5 93.3 103.2 107.6 1C3.1 1CS.C 107.9 108.2 109.3 109. 2 115.1 117.3 12C.0 122.7 ANNUAL 99.3 1C8.C 108.7 I II III IV 98.7 97.6 93.4 99.2 1C7.9 1C4.C 1C5.3 1C7.3 109. 3 107.2 107.C 103.2 ANNUAL 98.5 1C6.3 103.: 1930 1 979 I II III IV 10C.7 99. 6 98.6 97.6 114.7 118.0 121.4 124.1 118.3 99.2 119.o 11C .3 116.5 126.2 125.3 132.6 135.7 96.6 96.C 96. 5 95.9 127.8 132.5 134.7 136.8 115 .2 116 .7 12C .3 124 . 4 123.6 127.2 129.9 132.7 13C.9 ?6.3 133.0 1 1 9. 1 128.3 103 110 '.2 1 1 1.1 1 1 1 .3 -c .5 112.7 115.4 117.9 119.8 -1.8 -3.5 -2.2 -0.2 1 .7 -2.4 1 .9 -0.5 3. 5 1 .1 4.2 11.0 7. 3 9.6 9.3 0.5 -4. 1 -3.5 -4.3 13.0 11.7 12.0 9.5 ANNUAL -1.3 2.2 3. 5 5. 5 -1 .7 1C.7 4 .7 8.E I II III IV -0.4 -4.6 3.4 3.1 -C.2 -11.6 2.7 7.8 0.2 -7.4 -0.7 4.6 11.9 10.2 10.4 5.8 -3.9 -2.6 2.5 -2.8 12.4 15.5 6.8 6.5 15 .0 5 .2 12 14 .5 13.2 12.2 8.6 8.5 ANNUAL -0.9 -1.5 -0.7 1C.2 -2.5 11.2 g .0 10.2 9.1 8.5 8.5 1980 5 .4 C 8.4 9.7 9.2 6.6 PERCENT CHANGE FRO" CORRESPONDING QUARTER CF PREVIOUS YEARC6) 1 979 I II III IV -0.1 -1.3 -1 .7 -1.9 5.4 1 .7 1 .6 0.2 5.5 3.C 3.4 2.1 5. 1 9.4 9.5 9.4 -0.7 -1. 2 -1.9 -2.5 9.2 1C.8 11.5 11.6 8 .9 4 .9 3 .7 .2 ANNUAL -1.3 2.2 3.5 9. 3 -1.7 10.7 4 .7 8.8 I II III IV -1.6 -1.9 -0.5 0.3 -C.3 -2.7 -2.5 -C.6 1.3 -0.5 -2.1 -0.5 9.6 10.3 10.5 1C.6 -4.1 -3.7 -2.1 -1.7 11.4 12.3 11.0 1C.2 5 .9 5 .5 8 .2 11 .8 9.6 10.3 10.1 10.7 ANNUAL -0.9 -1.5 -0.7 1C.2 -2.9 11.2 8 .0 1C.2 1930 ;EE FOOTNOTES FOLLOWING TABLE 6. !=REVISED ^PRELIMINARY JULY 29, 1982 APPENDIX YEAR AND 3UARTER TABLE 3. N C N F I N A N C I A L C O R P O R A T I O N S : P R O D U C T I V I T Y , HOURLY C C M ° E N S A T I O N U N I T L A 3 0 R C O S T / bNI.T P R O F I T S / A N D P R I C E S / S E A S O N A L L Y A D J U S T E D CLTPUT PER A L L EMPLOYEE hCUR OUTPLT EMPLOYEE HOURS 96.A 99.5 101.7 102.4 97.7 99.5 100.5 101.5 HOlfiLY COMPENSATICN (1) INDEXES 1977 I II III IV ANNUAL 1978 I II III IV ANNUAL 98.7 1C0.0 1C1.2 100.8 I II III IV ANNUAL 1978 I II III IV ANNUAL I II III IV ANNUAL 1978 I II III IV ANNUAL SE6 F O O T N O T E S R=REVISED P=PRELIMINARY 99.5 99.9 1 CO.4 1C0.8 98.4 99.2 1GC.0 1G2.3 99.4 99.C 99.6 101.7 93.7 99.1 99.9 102.2 9C.5 10C.9 108.4 99.7 97.S 99.3 10C.9 101.9 100.0 1CC.0 1C0.C 1CC.0 100.C 100.C 100.0 10C.0 1G5.6 1C7.3 1C9.6 112.3 101.4 100.8 100.6 100.6 1G5.0 1C5.9 1C3.6 110.4 103.7 103.7 104.9 106.I 104.7 105.3 107.6 109.3 90.7 106.6 106.8 108.1 103.1 105.5 107.5 1G9.2 1C1.0 106.3 108.6 100.8 1C7.5 104.t 106.8 103.2 106.4 36.2 54.5 33.0 -23.5 5.3 6.6 6.5 4.0 105.3 2.8 5.5 5.0 -1.5 8.1 13.5 9.4 2.4 CHANGE 5.2 7.6 4.2 4.0 FRCN PREVIOUS QUARTER AT ANNUAL 7.4 S.7 8.4 8.2 0.2 1.6 2.0 1.8 4.5 3.0 3.2 9.8 RATE(5) -3.7 -1.6 3.5 7.8 2.3 1.7 3.3 9.3 2.3 6.7 4.4 8.1 1.6 5.7 1.£ 4.7 13.1 5.6 -1.2 3.4 -1.7 2.8 1.6 15.1 2.4 7.5 2.9 11.3 4.2 4.6 9.6 6.7 8.8 1C.1 2.3 -2.1 -0.9 O.C 11.0 3.2 10.6 7.1 8.C 0.2 4.4 5.2 10.2 2.4 9.C 6.6 -31.3 90.3 0.6 5.0 4.8 9.5 8.0 6.4 1.0 6.3 8.6 0.8 7.5 4.6 6.8 3.2 6.4 6.0 4.6 3.9 4.1 -4.7 14.5 24.8 18.9 4.7 5.7 6.1 5.6 5.3 1.3 2.5 3.2 2.9 3.9 6.7 8.1 8.3 CHANGE 2.6 4.1 4.8 5.2 FRCP CCRRESPONOING 8.4 S.4 8.2 8.2 2.4 1.5 1.5 1.4 QUARTER OF FREVICUS 7.0 5.8 4.9 5.1 3.1 1.4 1.3 1.3 YEAR(6) 2.3 6.7 4.4 8.1 1.6 5.7 1.6 4.7 13.1 5.6 1.9 1.4 -C.3 0.8 6.6 7.0 5.3 6.5 4.6 5.5 5.5 5.7 8.7 8'. 2 8.3 8.8 1.9 1.0 0.3 -0.2 6.7 6.7 8.6 7.9 4.3 4.6 5.1 4.4 6.1 6.2 7.7 7.C 0.2 5.6 -1.5 8.4 5.5 6.2 6.5 7.2 5.3 8.6 0.8 7.5 4.6 6.8 3.2 6.4 1.0 FOLLOWING 6.3 TABLE 6. JULY 29/ 1 9 8 2 conorp. RUREAU HOURS PER A L L EMPLOYEE HCUR NUAL II III 110.2 109.8 110.4 109.9 108.2 108.4 109.2 109.2 1C1.2 110.1 108.8 100.8 99.9 101.2 101 .7 109.8 106.5 107.1 109.C 109.0 106.6 105.9 107.1 1CC.8 108.1 C.9 -2.2 -0.7 -1.9 COMPENSATICN (1) 107.2 3.3 C.9 3.1 CO -1 .3 2.4 -1.9 HOURLY CCfPEN" SATI0M2) LABOR COST LAeOR CCSTC8) LNIT COST (9) 107. g 111.1 114.5 118.7 112.0 114.9 118.0 121.4 102.6 97.8 93.7 84.1 PRCFITS (1C) 1977=100 1C1.1 100.1 99.1 97.9 113.4 116.3 119.3 122.4 119.2 99.5 117.8 113.C 116.6 04.5 114.1 126.8 13C.0 133.4 136.5 97. 1 96.5 97.2 96.4 125.8 130.2 131.9 134.1 122.7 131.C 135.7 140.7 125. C 130.4 132.9 135.8 91 .1 81.9 87.8 9C.5 121 .1 124.3 127.7 13C.6 131.C 87.9 126.1 -18.8 -17.5 -15.8 -35.1 6.4 7.7 8.2 6.7 115.6 117.8 12C.6 123.1 131.6 CHANGE FRCf 96.8 PREVIOUS 12.3 8.0 9.9 8.? 1 .7 -3.9 -3.6 -4.9 130.5 CLARTER 132.5 A T ANNUAL 11.3 10.4 1C.7 10.7 12.8 12.7 15.7 1 1C.9 113.0 115.2 117.1 IATE C5) 10.C 11.C 11.2 12.C C.2 3.5 3.3 9.8 -1.3 9.6 8.C 9.2 -8.4 7.2 -0.3 -11.7 2.5 7.2 -1 .0 -8.3 -2.8 4.9 12.5 1C.3 11.0 9.4 -3.4 -2.5 3.C -3.1 11.8 14.6 5.3 7.0 14.1 30.1 15.C 15.4 12.4 18.4 7.8 9.2 37.9 -34.8 32.7 12.4 14.3 12.9 9.5 9.4 -0.3 -1.8 -1.5 10.4 -2.8 10.7 17.2 12.4 -7.1 1C.5 PERCENT CHANGE 1.3 -0.1 0.2 -1.0 0.2 I II III IV -1.0 -1.4 C.I 1.1 7.2 3.2 5.1 0.8 FROM CORRESPONDING QUARTER 5.8 3.2 2.9 1.8 9.5 9.8 10.1 9.7 -0.3 -0.8 -1.5 -2.7 3.5 3.3 9.8 -1.3 -0.3 -3.C -3.C -0.8 0.7 - 1 .6 -3.1 -1 .9 9.8 1C.3 1C.6 1C.8 -4.0 -3.6 -2.0 -1.5 -2.8 -0.3 FOLLOWING STATISTICS P3ICE DEFLATOR 0.7 -3.7 5.4 2.2 I II III OF L A 3 C R TABLE 3. N C N F I N A N C I A L CORPCRAT IONS: PRODUCTIVITY/ HOURLY COMPENSATION UNIT LA30R COST/ U M T P R O F I T S / AND P R I C E S / SEASONALLY ADJUSTED PERCENT 1977=100 97.1 99.2 1C1.2 103.2 INDEXES SEE FOOTNOTES R=REVISED P=PRELIMINARY IMPLICIT PRICE DEFLATOR 102.2 105.C 106.1 107.3 1C1.9 1C1.3 101.1 100.6 II III IV UNIT PRCFITS (1C) 100.C I II III IV II III TOTAL UNIT COST (9) 102.8 106.4 107.1 109.C APPENDIX AND GUARTER UNIT NONLABOR CCSTC8) 1CG.0 PERCENT 1977 UNIT LA509 COST 1CC.5 101.4 100.9 101.6 PERCENT 1977 REAL HOURLY CCPPENSATI0M2) TABLE 8.0 9.9 9.9 10.8 OF PREVIOUS YEARC6) 7.C 9.2 9.7 11.C 9.6 4. c 7. 9. 1 11. 5 8. C 13.1 -8.3 -12.3 -22.2 9.2 -8.4 7.2 10.9 11.9 10.6 9.6 13. 8 17. 9 18. 18. 11.6 13.4 12.6 11.9 -11.2 -16.3 -6.2 7.6 9.2 1C.5 10.8 11.5 10.7 17. 2 12.4 -7.1 1C.5 7.6 7.1 7.2 7.3 6. JULY 2 9 , 1982 S O U R C E : BUREAU OF LABOR STATISTICS APPENDIX TAELE 4. M A N U F A C T U R I N G S E C T O R : P R O D U C T I V I T Y , HOURLY COMPENSATION/ UNIT LABOR COST/ SEASONALLY ADJUSTED YEAR AND QUARTER CLTPUT PER HOUR OF ALL PERSONS HOURS OF ALL PERSONS OUTPUT (7) INDEXES I II III IV 97.9 99.8 100.8 101.6 97.0 98.9 101.0 1C2.9 99.4 99.6 1C0.2 100.5 9g.O 99.0 10C.6 102.3 ANNUAL 100.0 1C0.0 100.0 10C.0 1CC.0 10C.0, r IV 99.9 100.5 101.2 101 .8 1C2.0 1C4.7 1C6.5 1C8.1 102.1 1C4.2 10 5 . 2 106.2 105.6 106.8 109.1 111.7 101 . 100, 100, 10C.1 105.8 106.3 107.7 109.7 ANNUAL 100.9 1C5.3 104.4 108.3 100.6 1C7.4 II III PERCENT I II III IV 2.6 3.9 1.9 0.4 ANNUAL 1978 CHANGE FRCI* PREVIOUS CHARTER 5.8 3.7 5.9 8.1 3.8 3.2 8.5 8.2 8.7 7.5 2.5 6.9 4.2 I II III IV 2.4 2.4 3.1 2.3 -0.6 11 .2 ANNUAL 0.9 8.7 RATEC5) 1.2 5.7 2.4 1.2 8.3 1 .8 5.7 11 .3 3.9 4.3 0.7 14.1 1 .9 6.3 1.9 3.7 3.8 3.8 5.3 4.4 8.3 7.C ERCENT AT ANNUAL 4.1 6.6 7.0 12.3 p 1977 1977=100 96.9 99.8 101 .2 1C2.1 1 978 1978 UNIT LABOR COST 99.0 99.9 100.4 100.5 1 977 1977 REAL CCPPENSATICN PER I-CURC2) CCPPENSA* TICN PER HCURC1) CHANGE FRCf* C O R R E S P O N D I N G 1 .1 4.3 8.9 9.8 GUARTER OF 0.2 5.7 7.3 G.6 7.4 PREVIOUS YEAR ( 6) I II III IV 2.9 2.6 2.5 2.2 5.3 7.1 7.5 7.6 2.3 4.4 4.8 5.3 8.5 8.1 8.5 8.2 2.5 1.3 1 .8 1 .5 5.5 5.4 5.9 5.9 ANNUAL 2.5 6.9 4.2 8.3 1 .8 5.7 I II III IV 0.9 0.6 0.8 1.3 5.2 4.9 5.2 5.9 4.2 4.4 4.4 4.5 8.9 7.9 8.0 8.6 2.1 C..7 -C.1 -0.4 7.9 7.3 7.1 7.2 ANNUAL 0.9 5.3 4.4 8.3 0-6 7.4 SEE' FOOTNOTES R=REVISED P=PRELIMINARY FOLLOWING TABLE 6, JULY 2 9 , 1982 S C L R C E : BUREAU OF LABCR STATISTICS APPENDIX TABLE 4. M A N U F A C T U R I N G S E C T O R : P R O D U C T I V I T Y / HOURLY COMPENSATION^ UNIT LABOR C C S T , SEASONALLY ADJUSTED YEAR AND QUARTER CLTPUT «>ER HOUR OF ALL PERSONS OUTPUT (7) HCURS OF ALL PERSONS INDEXES 1979 I II III IV ANNUAL I II III IV 1980 ANNUAL I II III IV ANNUAL I II III IV 1980 ANNUAL I II III IV ANNUAL 1 980 I II III IV 107.1 106.3 106.9 105.9 115.2 117.9 119.9 122.6 10C.7 100.1 93.5 97.4 113.3 116.0 118.6 120.3 101.5 1C8.2 106.5 118.9 99.2 117.1 102.6 100.4 1C0.3 103.6 1C7.8 1C1 .6 99.9 1C5.0 105.1 101.1 99.6 101.3 127.1 13C.9 135.2 138.4 97.3 97.1 93.5 97.8 123.9 13C.3 13 4.9 133.6 101 .7 1C3.6 101.8 132.8 97.7 13C.6 SEE FOOTNOTES R=REVISED P=PRELIMINARY FOLLOWING CHANGE PROP PREVIOUS GLARTER AT ANNUAL RATE(5) -0.7 -0.1 -2.3 3.3 2.8 -3.C -C.1 -C.5 3.4 -2.9 2.2 -3.6 13.2 9.7 7.0 9.3 2.5 -2.4 -6.1 -4.4 13.9 9.8 9.5 5.8 0.7 2.7 2.C 9.7 -1.4 9.0 2.8 -8.0 -0.8 14.0 -0.2 -21.3 -6.5 22.2 -2.9 -14.4 -5.8 7.2 15.7 12.4 14,0 9.6 -0.7 -0.7 5.8 -2.9 12.6 22.1 14.9 -3.9 0.2 -4.3 -4.5 11.8 -1.6 11.6 CHANGE FROK CORRESPONDING QUARTER OF PREVIOUS YEAR(6) 9.9 9.8 -0.7 -0.2 -1.6 -2.7 7.1 9.1 10.1 9.7 2.0 9.7 -1.4 9.0 -1.8 -4.9 -6.8 -4.3 1C.4 11.0 1.7 -1 .0 -6.0 -7.5 -2.7 12.9 3.4 3.0 0.1 0.3 12.4 13.7 11.0 0.2 -4.3 -4.5 11.8 -1.6 11.6 1.3 1.2 6.8 3.2 -0.2 0.0 1 .4 -0.2 -0.3 0.7 2.7 0.9 -1.2 -0.8 ANNUAL 1977= 1C0 1C8.9 1C8.0 1C8.0 1C7.9 PERCENT 1 979 UNIT LA3CR COST 101 .7 101.6 101.0 101.9 PERCENT 1 979 REAL CCPPENSATICN PER hOUR(2) CCPPENSATICN PER HCURC1> TABLE 4.9 2.0 1.6 9.0 1C.4 12.8 9.4 6. JULY 2 9 , 1982 S O U R C E : BUREAU CF LABOR STATISTICS AFFENDIX YEAR AND GUARTEP TA9LE 5. DURABLE MANUFACTURING C O M P E N S A T I O N , UNIT LABOR COST/ CLTPUT PER HOUR OF ALL PERSONS OLTPUT (7) HOURS OF ALL PERSONS SECTOR: PRODUCTIVITY/ HOURLY SEASONALLY ADJUSTECdD COMPENSATION PER HCURd) REAL COMPENSATION PER HCUR(2> UNIT LABOR COST INDEXES 1977=100 I II III IV 98.7 100.0 130.3 100.8 95.9 99.6 1C1.6 1C3.C 97.2 99.6 101.2 102.2 97.0 99.0 101.0 102.8 99.4 99.7 100.1 10C.4 98.3 99.0 10C.6 1C2.0 ANNUAL 100.0 1C0.C 100.0 10C.0 100.0 100.0 I II III IV 99.9 100.9 101.3 101.9 1C2.7 1C6.3 1C8.7 110.8 102.9 105.4 107.3 108.8 105.2 106.1 108.4 111.2 101.0 99.7 99.5 99.4 105.3 105.1 107.0 109.1 ANNUAL 101.0 1C7.1 106.1 107.7 100.1 1 977 197S PERCENT 1 977 CHANGE FROM PREVIOUS QUARTER AT ANNUAL RATEC5) I II III IV 1 .4 5.4 1.2 1.9 7.7 15.9 8.3 5.7 6.2 10.0 7.0 3.7 9.4 8.3 8.2 7.5 2.1 1.3 1 .9 1.2 8.0 2.8 6.9 5.5 ANNUAL 2.7 8.4 5.5 8.2 1.7 5.4 I II III IV -3.6 4.1 1.8 2.1 -0.9 14.7 9.3 8.1 2.8 10.2 7.5 5.9 9.6 3.4 9.0 10.6 2.3 -5.1 -0.6 0.5 13.7 -C.6 7.1 8.3 1.0 7.1 6.1 7.7 0.1 6.7 1978 ANNUAL PERCENT CHANGE 1977 I II III IV YEARC6) 6.1 6.7 2.0 1.0 1.8 1.6 4.6 4.9 6.1 5.8 8.4 5.3 8.2 1.7 5.4 1.2 0.9 1.0 1.1 7.1 6.8 7.0 7.7 5.8 5.9 6.0 6.5 8.4 7.4 8.1 1.6 0.0 0.6 C.8 7.1 6.2 6.3 7.0 1.0 7.1 6.1 7.7 0.1 6.7 7.1 8.4 8.6 9.3 ANNUAL 2.7 II III IV ANNUAL SEE FOOTNOTES FOLLOWING TABLE 6. R=REVISED P = P R E L I f* IN A R Y OF PREVIOUS 8.0 7.8 8.6 8,4 3.3 2.7 2.4 2.5 1978 FROM! CORRESPONDING QUARTER 3.7 5.5 7.2 JULY 2 9 / 1 9 8 2 S O U R C E : B U R E A U OF L A B O R STATISTICS APPENDIX YEAR A N D QUARTER TABLE 5 . DURABLE MANUFACTURING COMPENSATION/ UNIT LAECR COST/ CLTPUT PER HOUR OF ALL PERSONS C'uTPUT (7) hCURS OF ALL PERSONS SECTOR: P R C D U C T I VITY, H O U R L Y SEASONALLY ADJUSTEDC11) COMPENSATION PER HCURC1) REAL COMPENSATION PER HCURC2) UNIT LA3CR COST INDEXES 1977= 1C0 I II III IV 101.3 101.2 99.5 100.7 111.5 110.2 1C9.5 1C9.3 110.1 103.9 110.C 105.5 114.7 117.3 119.2 121.6 1CG. 3 99.6 97.9 96.6 113.2 115.9 119.8 12C.7 ANNUAL 100.7 1 10.1 109.4 118.2 98.7 117.4 I II III IV 101.2 99.2 98.3 102.2 1C8.9 1C1 .4 9 8. S 1C4.9 107.6 102.2 100.4 10 2.7 126.6 1 3C.4 1 35.0 138.5 96.9 96.8 98.3 97.9 125.1 131.4 137.3 135.6 ANNUAL 100.3 1C3.5 103.2 132.6 97.5 132.2 1 979 1930 PERCENT CHANGE FRO!* PREVIOUS GL'ARTER AT ANNUAL 1 979 RATEC5) I II III IV -2.2 -C.4 -6.4 4.8 2.4 -4.6 -2.6 -0.7 4.7 -4.2 4.1 -5.3 13.3 9.3 6.6 8.3 2.7 2.8 6.4 5.2 15.9 9.3 13.9 3.3 ANNUAL -0.3 2.3 3.1 9.7 1 .4 1C.0 I II III IV 2.1 -7.6 -3.6 16.5 -1.4 -24.8 -10.0 27.5 -3.4 -18.6 -6.6 9.4 17.8 12.5 14.6 10.9 1 .1 0. 5 6.3 1 .8 15.4 21 .8 19.0 -4.8 ANNUAL -0.4 -6.C -5.6 12.2 1 930 PERCENT CHANGE 1979 FROM CORRESPONDING QUARTER -1.2 OF P R E V I O U S 12.6 YEARC6) I II III IV 1.4 0.3 -1.8 -1.1 8.5 3.7 0.7 -1.4 7.0 3.4 2.5 -0.3 9.0 1C.6 9.9 9.4 0.7 0.1 1 .6 3.0 7.5 1C.2 11.9 10. 6 ANNUAL -0.3 2.8 3.1 9.7 1 .4 1C.0 I II III IV -0.1 -1 .9 -1.2 1.5 -2.3 -8.0 -9.8 -4.C -2.3 -6.2 -8.7 -5.3 1 C. 4 11.2 13.3 13.9 3.4 2.8 C.4 1.2 1C.5 13.4 14.6 12.3 ANNUAL -0.4 -6.0 -5.6 12.2 -1 .2 12.6 1980 SEE F O O T N O T E S R=REVISED P=PRELIMINARY FOLLOWING T A 8 L E 6. JULY 2 9 / 1 9 8 2 S O U R C E : B U R E A U OF L A B O R STATISTICS APPENDIX YEAR AND QUARTER T A B L E 6. N O N D U R A B L E COMPENSATION/ UNIT CLT^UT PER HOUR OF A L L P E R S O N S MANUFACTURING SECTOR: PRODUCTIVITY/ LABOR COST/ SEASONALLY ADJUSTEO(12) HOURS OF ALL PERSONS OUTPUT (7) INDEXES I II III HOURLY REAL CCPPENSATICN PER HCURC2) COMPENSATION PER HCURd) UNIT LASCR COST 1977=1C0 IV 99.4 99.8 100.6 100.1 98.4 1CG.1 1CC.7 1C0.9 99.C 100.3 100.1 100.7 97.2 98.9 101.0 102.8 99.5 99.6 100.2 100.5 97.3 99.1 1CG.5 1C2.7 ANNUAL 100.0 1CC.C 100.C 100.0 10C.0 10C.O III IV 99.9 99.9 1 C 1 .1 101.8 1C0.8 1C2.3 1C3.2 1C4.1 100.9 102.5 102.1 102.2 106.3 107.7 109.7 111.8 102.0 101 .2 10C.8 10C.3 106.3 1C7.8 108.5 1C9.9 ANNUAL 100.7 1C2.6 101.9 108,9 101.2 1C8.2 1977 I II 1 978 PERCENT 1977 I II III CHANGE FRO* P R E V I O U S GlARTER AT ANNUAL RATE(5) 4.5 1 .7 3.0 1 .7 10.3 7.2 2.2 0.8 5.6 5.4 -0.7 2.6 6.8 7.4 8.7 7.4 0.4 C.4 2.4 1 .1 2.2 5.6 5.6 9.3 2.3 4.7 2.4 8.2 1 .7 5.8 0.7 0.3 5.1 2.6 -C.2 6.1 3.5 3.4 0.6 6.4 -1 .5 0.7 14.0 5.5 7.8 7.9 6.4 3.2 1.8 2.0 14.8 5.3 2.5 5.1 0.7 2.6 1.9 8.9 1.2 8.2 IV ANNUAL 1 978 I II III IV ANNUAL PERCENT 1977 I II III IV CHANGE FRCI* C O R R E S P O N D I N G QUARTER OF FREVIOUS YEARC6) 2.3 2.3 2.8 1.8 2.7 5.2 5.8 5.1 0.5 2.8 3.0 3.2 8.9 8.3 8.1 7.6 2.9 1 .4 1.4 0.9 6.5 5.8 5.2 5.6 ANNUAL 2.3 4.7 2.4 8.2 1.7 5.8 I II III IV 0.5 0.1 0.6 1.7 2.5 2.2 2.5 3.2 1,9 2.2 2.0 1.5 9.3 8.9 8.6 8.7 2.5 1.6 0.6 0.2 8.3 8.8 3.0 7.0 0.7 2.6 1.9 8.9 1.2 8.2 1978 ANNUAL SEE FOOTNOTES R=REVISED P=PRELIMINARY FOLLOWING TABLE JULY 29/ 1982 S O U R C E : BUREAU OF LABOR STATISTICS APPENDIX YEAR A N D QUARTER TABLE 6. NONDURABLE COMPENSATION/ UNIT CLTPUT "ER HOUR OF ALL PERSONS MANUFACTURING SECTOR: PRODUCTIVITY/LABOR COST/ SEASONALLY ADJUSTEDC12) HOURS OF ALL PERSONS OUTPUT (7) INDEXES 1979 I II III IV CCPPENSATICN PER HCURC1) 1C5.C 1C4.8 1C5.8 1C5.8 102.6 102.4 102.2 102.C 115 118 120 123 102.9 1C5.4 102.4 104.7 102.3 103.2 1C6.2 101.8 1C1.5 101. IV 105.8 1C5.1 ANNUAL 104.0 1C3.7 I II 1980 III PERCENT 1979 I II III IV CHANGE UNIT LA8CR COST 98. 98. 112.6 115.4 116.1 119.1 119.2 99.6 115.8 99.3 127.2 131 . 3 135.4 137.6 97.3 97.4 98.6 97.2 121.5 128.4 131.2 130.1 99.7 132.8 97.7 127.7 99. 98. FROM REAL CCPPENSATICN PER H0URC2) 1977=100 102.3 102.4 103.5 103.7 ANNUAL HCLRLY PREVIOUS QUARTER 100. 10C. AT A N N U A L RATEC5) 1 .9 0.4 4.5 0.8 3.4 -0.4 3.8 -0.1 1.4 -0.9 -0.6 -0.9 12.6 1C.9 7.1 11.6 2.0 -1 .4 -6.1 -2.3 10.4 10.4 2.5 1C.7 ANNUAL 2.2 2.7 0.4 9.5 -1 .6 7.1 I II III IV 3.7 -8.8 3.6 10.5 1 .7 -15.6 -1.2 14.8 -1 .9 -7.5 -4.6 3.9 12.2 13.6 13.1 6.7 -3.8 0.4 . 4.9 -5.5 8.2 24.6 9.2 -3.5 ANNUAL 1.0 -1.6 -2.6 11.4 -1.9 1C.3 1980 PERCENT CHANGE FROM CORRESPONDING QUARTER OF FREVICUS YEARC6) 1979 -0.2 8.4 9.7 9.6 1C.5 -1.3 -0.3 -1 .9 -2.0 5.9 7.0 7.0 8.4 2.7 0.4 9. 5 -1 .6 7.1 2.3 1.2 -0.1 -0.3 2.0 -2.9 -4.1 -0.7 -1.1 -2.8 -3.8 -2.6 1C. 4 11.1 12.6 11.4 -3.4 -3.0 -0.2 -1 .1 7.9 11.2 13.0 9.2 1.0 -1 .6 -2.6 11.4 -1.9 1C.3 I II III IV 2.3 2.5 2.4 1.9 4.1 2.5 2.5 1.6 ANNUAL 2.2 I II III IV ANNUAL 1980 SEE FOOTNOTES FOLLOWING TA8LE 6. R=REVISED P = P R E L I M I !S| A R Y 1.7 -0.1 0.2 JULY 2 9 / 1 9 8 2 S O U R C E : B U R E A U OF L A B C R STATISTICS
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