Full text of Productivity and Costs : First Quarter 1972
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-
NEWS
'~'
Y
U. S. DEPARTMENT OF LABOR
IFFICE Of I!FIIUflDI . (lSNl!no! . O. C 11211
.
~~u:,\.q::
11,00 A.H., J;ST
USIIL: 12-H2
Tuc¥J~1.
t\l~
'~rc."
A"rll 2), 1~12
of Labor
961 - 243) 0,
.. S~t1c.
N~
S'a'l.tlc~
~61-))'9
"" p«..Juctivlty fur
I"~'-¥I~~nchl "'rp"utlon~
SC~
R.c~n<
rale l a"d Tobin 4 .. ,d 5
ena"I*" In produotivlty, hOurly c",,"pon. . t l on, .nd unit labo, coaU .t annual
4th Quart . . 1.91i
"
lot OuaTur 1971
To<ol Pdv.,.
<Jut"'"'
pH ,,~~-hO\lr
Co=pa" •• tion per man-hour
l'~lt lah. eoo"
&.al e"",p.~ut1on poe ,"~-hour
Wt.~, por
lot
9uuur 1972
,.,
•••
.. ,,
,.
=""-h",,,
Co:?oo... tlon per .an-hour
~~1, lo~or eo","
lWal ~o"p.~ .. 'lon pH ... n-h",,~
Outpu, par ,",,-hOUT
CC:l?n. . ,lo~ pu ..,, - hour
l'nlt labor ~os,.
Rool <Q1Ipen.ulon po< ,",,- hour
,.
lot Quartu 1971
,
....••,,
•
..
,..
,.,
,. ,
L.
,
I
In tho n""fa,.,. s~ctcr, productivity ,row,!> "as acco!llpon1ed b~ • l.rg. incrus" In
output of 7.0 percon. (annual r a.e).
output for the privata econo:oy
..mud rat..
&II
•
Howevot, bocau •• o f • drop In to"", production.
"hoi. lncr ...... d oo...,.hat lu. --
)!on-hour ialn. "ou irUtor
th.~
0< •
S.6 p . .ccnt
l u t qUOTur'. Intuuu and ,",ue
ntdbutablc onti r ely to I,ow.h In .... loy ... o<.
~t
qua,n •• t h
.... "-hour gain nfhc •• d
on employmont ri .. ao ... dl . . . 1."i,honinJ of the "ork " . .k.
Sine. tho fir . . quartu of 1971, outpUt por .... n-hour incrou od by 2.8 pe rcent in
the print • • conomy ond 3.3 peno,,' 1n th .. ""of."" Uttar .
Productivity 1n aaDuhcturinJ incru.cd ot an annual <aU of 2.9 p.. cent .,,",pued
"hh th o nvi . . d fcu«" qua« . . inero. . . of 0 . 8 perc.n<.
Tho sru . . . laln 1n productivity
.h1. quart., .. fl oc •• d • >"botant!.l JAin 1n prodUction, vhlcb ro.o ot
6.'1 percent cc01pa r ed .. lth 3.9 pOTcont In t he fourth quu.er of 1971.
aD
annual rot. o!
Be,,·..n
the flTlt
q""ttu of 1971 .nd tho firs. quorteT of 1972, ou.nuhcturln& output .er ",.n-holl' ro.. by
2.S percent.
"""1"'"... 1011
pH fUn - hour '0" 1"".tan.l.lly In . 11 three "«orl of the econ""l' In
.ho flTlt qua"o •.
u.e <Of 9.b pereon ••
In tho
prl~ •••
ec""""", , h<>udy c","pe"UUon IncT.... d at an annual
In tho n""fa ...... e.or, .ho
and In ,"""ufactur!,,; I t " •• 9.7 percoo. .
;ai~"u
oven lar,.r -- 9.3 percent
Th. laTlo In'n.... In "o"r,y cOOIp."..,I"" no.
only rd ' .cud tho oxp oc •• d buill. fellowlna th o I'll.... I l run porlod, bu • • he
r ofl~ .. ed
.... tro . .. iv. ".,0 p.:r-n ••• nd tho 1"",.0' of tncn.oed =player e""nt~" . l""" to .oclol
oo,urHy.
Cooq>lnd "ith t ho fint quarter of un,
''''''P.".. ,IO<I
per ...,.-heur Incroaoed
b, 6 . l porcon. In .ho priv.to leono-=y , 6.6 percI"t In tho """fana lO"or, and 5.4 porcont
in .... f .eturlnl.
,u
~oc.uoe
tho .alne In hourly e<><>fl0". • • i"" .. oro lubltanthlly lar,". thIn tl>. In. .o&Oe
in the Co""",,,,~ Prie. Indn, roal eOlllptl .... Uon ptlr ~-hQ"r In tho U",. quartor Incro .. od
a t IIIOrl tn"" ... Ice ,ne ute nf pin e:.pcrlonc.d tn tluo fC\l"b qu . .. e r o f 1971.
prl v... o.ono-=y, rool hourlY eompe"".tt<>n ro. . . , an Innual rato of 5. C ptlrcont
"lth 2.0 po ..
.o.
In thl f oureh qu .... r.
For tho
,00000.r.d
In thl noMI .... and ,...,,,t.ceurln; . .cton , thl ialn
10 real compensation per .... n - h"""~ .... even lorge r __ 5,] percent .nd 6.2 percent,
ru peot I vely .
hc.un of tho largo increa.e. in cOlIPensulo<> per "",n-hour.
r "".
s~.tanthll.y
prlvuo eco<>o,"y ,
In
""i,
th ~
~nit
thru _lor netors of the 'o' a l ecom".y.
labor c<>Ots Increase d by 6.3
~eTOent
a ls~
labor co.ts
For the total
In the fiTSt quart e r.
In 'he
"O"fa,.,. n otor, th e incruu '. as 5.4 pe reent, "h!l. In .....nu ho tudng it ,",u 6 . 6 perc~M .
The I"'pl!clt prloa defhtor. "hieh re flects chani"" In unit loboc co ou. unit
profits , and o,her """lahor oo",s, .bo increased ",oce in the first quart« ,han In t he
previous pui¢<! .
For the pdvat. ncto r th e Incroase 'las 5 . 3 pucent
1.2 pe«.nt In the founh quartor .
c""'p a red "I t~
Price. 1n th. nonfo ...... «or ro .. hy •. 2 pOTeent,
compaud "ith a va ry ollght Oeollu in tho fourth quar'or .
Introducing n ..... don on t he
Includ~d
~o~financ!a I
Corporate Sector
in thb ,..,l u u for the fir"
<[ ...
are quarur l y du a on
outp~'
per ,,--n-
hour and rolaud 000<5 for to. ""nfinancial oorpo.au UctOr (ubI • • ), to oupple_nt
to. "U'uru for the total pr"·ate e conomy and
p~1v.u
nonfarol net Or .
uri . . be~lnnlng "Ith 1958 .1.0 app e ars In an a p~ondh I.Ole .
to 19.8 will be Included In ' h fonhooming PrQductivi'y, Wallos
An hi.todc'!
!he e"tin o . . i •• bock
an~
Prien
uluu .
A description of the _thod . . .
,d procedure> use d to devolop thh . . r leo i. available
upon
re~uQot.
Tha Qonfinondal cor?outo . . o'or
I~clud ..
oIl corporations opu a ting In the
United Stat es oxc.pt banko , c~di'y and .'ook brokers, o~edlt agencl •• • and insura roce
curion.
In 1911 thlo oector .ccountod for 6. pe rcent of the output and 53 pe rce nt of
'he .",ploY""nt ,n tho toto l
p~lva< o
oo.",,,,,y .
The r. .... corpoute urI .. provldu a cOllpuh o".ive fu_"o~' for .naly<lni productivi,y, OOlts, profito and priou .
eoon"",~
In thlo u cl . . . unJ,i . . thOU fOr the pr,vat e
ond the nonh,.,. u<tor , thuo 10 no ~ .. d to dlocate tho incomo of p,oprle<oro
bewun P'Oporty inco_ a nd labor inoo",""
o""loy.e. onl)· .
.inco a ll la;or input .nd \nc"",,, pe ruin o to
In addition. O~ tP~t data fo~ tho MnUnanc101 cor~ouu <tctor do not
,
roqulre j:npuUtions for ...... urlng tho out put of bank., """u-occuplod "".Ulng"
and
non-pro/It organizations .
T.... o
n~
_asur .. , whlc.h au not ovalhble In tho Nhe< .e rl •• , u o Includ.d In til.
co rporat e urlU -- unit proHu ond unit nonlabo r co.=-.
oQuai unit Mnhbor paY""'''ts.
Toge ther, the two
_nuu.
Unit profito are _ .. "rod bdoa t u .. and Include an
[,lVentory valu.tion adjust_fit.
M~idi"g
They are derived b}'
total corporate product (out put).
total wrpou te p r ofits by
IJnlt nonlabor to ... He capital con.umpOion aUowanc ...
lnMrect butlnu. tax .. , ond net Inurn,.
These " enur •• penoH on an olyolo of prhu
In t or=> of unit labor costs, unit nonlabor oost .,
.n~
unit profl, • .
,,*CQn, Ch O
PS" in th. CQ'pouu Soctor
In t h o fourth
qu~rter
of 1971 , th. ht .. , poriod for '"hleh ncolin . ndd corporate
dau UO A o iloble, output por ",on - hour In tho corp<>ra, . uc,or to •• u
v
4.S
porc. ~t,
.. outp", lnc,..u.d by ovor
~
percent a nd J:.I.n-houu by ovor. peroent .
r a te of il r"",' h in "u'pu, p~c ..ar.-hour "U about tho
pore."" h",,*vor, ,h* output . nd "';ttl- hout
" an 1 porcon', ,.,hll. !Un-hour>
~ o <llnod
""'"ufoc,udng output , "hlch h .. a
b *c o" • •
~ ony
lire>
~.re
lH'~
;ttl onn"o J raU <>1
tt<~d s
':II1II.
rliffe ro d
by 3 . 6 porc oot.
" . ight in tho
The
In 'he third qua rt o r -- 4.6
~id o l y.
O",p,,' to .. by Ju.
Durlnil tho third quarter ,
~orporate
u c.or, f o il a i",lficantly
,,,In. up . to.l lnvontorl •• ,.,hich thoy hod aceu:ula,od
i~
a nticipa-
tion <>f • ".01 <t<i k e .
For 1971 a t .
~hole.
cor;:orato OUtput pu tI&n- hour rosa by 4 . 1
perc~M ,
.1.9 p.rcont incr.... In ou'put and. 1.7 porcant doeliu In .... n- hourt.
rofhotlng
Although th o
1971 iain In output "U obout .h . . .me In t ho priv.tt :IOntan> Uctor . tho incuou In
productlvay In tho corpouu "c'or "ao .. oro th~n I porc.ntag. point ~ r . . u r than tho
nonhn rn o 0 •• pucont) boe.",.. lOan-hours ~oolin.d :ooro "o.plv In the cor?ouu
"cto r.
~or.ovor.
qu . . ,uly output pu <un-hour ,aln. In the oorpouto . . otor " 'ro
hi,her t han ie. tho nonhn••• cto r 'hroughout 1911.
,
f<>~rth
In tho
quartor of 1971 . both unit labor C<>I," and tho prico ddlato r dcclln od
tn tho corpora. . . . «or.
lInit lobor co. .o fall by 1. 4 puc.n. (annud UU)
co ..penl&<lcn ro . . by ).3 puce",
."0
output por .....
~-hour by 6.8 p ... c.nt.
&I
hour ly
0.. tile other
hand , unit nonl"""t coot. co. . by 2.3 pucont and unit p r ofito by 0.5 pH~.nt.
10 tho third quarteT , the COOt .. prio o oH ... tl""
~d
w_
pH~.nt)
2 . :/ pueOM, u!lectinl in.n .... ;n unit labor CO,U (2 . 0
~O ...
(10.5 percont) .
differeM.
Prices ro . . by
and un" r.onlabor
Unit profits, h""ovor , f.ll by aboot 12 pucont , u flectin,
l"".~
ocal. . of pr<>ducticn •• output lneru.. d by only 0.8 percent com;>ared "ith tho 9.1
p<lr~ent
d .. In tb. fourth qua n e. .
For the yur 1971 , unit labor oooto Inoreased by 2.2
4.0 perent.
In 1970 .
end pric •• to . . by
Lon yur'. prico rlao reflected a .1""1£lc..,,t ol""d""" In tho rate of
inc ....... of unit labor cooto
tho yur.
",,~c.nt
on~
unit n""labor coo .. ; h"".v ••• unit proUt.
r~o
ovo<
In 19H unit profit. rooo by 11.6 poreon •• cO"'l' oud with 0 13 pucon, docllno
),911 v_ ,ho I1rH yo.,. -'nco 1966 that unit prol1 .. Incro_od.
In 1911 rnl cO"'p<OnfOtlon PH "..,,-hour In tho corpouto . . etor ro . . by 2.6 percont.
obout .ho .a:>o utO
o.
in th nonf.,.." "etOr.
11Mb thh rote woo lou than tho ute
of Ir""'th in product!vlty for 1971. It "oo .... elI hlaho. thon tho 0.7 poreent Increase In
r nl vo,oo ro,haud for tho eorpor.. o . . etor in 1970.
Loneton. chong .. In the Coryon. . Secto r
""or tho t " onty-th ... y • .,. period 19U-71. <>utput PH man-hou r (pr<>duetlvHy) fo r
n""f1non~1al
torporatlon. rooo at ." oru",a l avoro,. rot . of 3.0 percont c,,",pared v ith
2 .• porcont for tho nonfano uetor .
In all ~ut 3 of tho 23 y ..... . tho In ...... !n eorpou ••
productivity v os .r..... than nonfa.,. p,-oduetivlty .
Quarter ly _ " , c . for t ho corpon..
•• ctor ,onorally foll"",ad tho ___ port.Tn.
Tho hlah" productivity ,aln. In tho eorpor.. e ooetor nfl . . tod "'OU r apid .oins In
""tput.
In add1tlon. tho corpo.... . ."or I. elI ...e .. rizcd by Induotrlo. with b . . . . .-
than-overage ..... o f productlvlty ,r""th -- auell .. monu f a "urln • • public utUttl •••
c.,..unlootlon• • nd «on.poration -- ond to a l u •• Utent uelU<!o. Inrlo.strlo. "ith
I"" •• productivlt, , .aw th •• uoh os ..."y oo,."le. Induo.Ti ...
•
Prl=adly u fheUol till .,. . u r d . . 1n predueHvHy, unlt bller e"oto 111 tho
.... .,OUta ..ctOt ovn tho p.. l od 1948-71 . r""
of . ho ooenolllJ' .
Corpouu unit labo r eoot Inc .... u
,,1.11 2 . 1 p<l teant for th nonh,.,. "eto r .
~otll
10 .. t han In th priva •• tlCllt- ... netor
..e ' '' .... 4.9 porcont.
ava .. ,od 1. 8 peroont • ,Ut c""Pond
Ole".ly '",""ponu.ltm .oln. "0'" ,1..ilo. fot
Pri<e <undl ....... urod by tho 1"911cit prlcI ddhtor
fcU .... d thl ..... patto", •• corpo u •• prlcu UndId to rl .. _to 11",,1,. ,II.., prlcu In
tllo _ f ...... eto • .
h
tho
19 61 ~ 1l
period, "hon productlrity rat .. for tho nonf ..... "eto r .. 0 .. I ",", •
... .-po .... . . etor productivity 101M, alth""*" ..... Uu 'han In 1'...,,1_ Jura, ... ..
hi"' . . than tho •• for nonh . . U • ""ola.
r o.. by 2.S pucoon, • YUt
(c",,?.u~d
,. \th
." tho cOfpon. . . . etOr .... .
'~e loo~-t. ,.,.
1''''
pl . . . . .-hour
ro'_ of J . O), .. hll. I. rO" by
only 1.4 percont In tho "onfa .... 0.0 ' 0. ("""pacod v1th th e 10<1 3- ' ..... u,. ot 2.6).
For
tho ..,It pin, th pre>duo, 1vl t y 11"",d""" in bo th lO .tOrs celhtted a dTOpoff in thl Ute
o f ,.""th !~ output .
.. .uch Ind .an-hour
'"C'O' .
In tho oorporat ...... 0'. h""ever. "u'put 'T""t h did no' 01"" d """
AdJuot~nt.
VO.O •• de
~ •• ~u!ek l y
thin in tho priVltO nonflrm
COrpo.at. output roo. by 2.6 po t e.r.t 6 lear bO'''.ln 1961 and 1971. In cont r .. t
to 2.1 porclnt in ,he Donfo .....oto., " "Ho
c<>rp~rlte
,...,-houn r .... by only 0.1 porcent.
in coneru. to . 0./ po ... ent rloo in the nonfa ... lOetOT.
Durinl 1961-11, p r ic. in.. r ..... in the "o<pOn t e lOetor oVlu.od }.5 po<con t 0 yu r.
While "ntt lobor .. "oto abo ro . . IOOU rapidly (4 . 3 porC lnt) , t hoy ""rO not .he fa. teat
.toin, oO"Ponont of cos t . .
.... . or .
corporatl
Th!. upid 100n r d11 .... d bo:h ine .....s In eapl t a l e"""u.ptlon .tl""onc. . and
in ..... ' poy;oontl.
1961-11.
Unit nonlobor 001" Increased by 6.8 pl ... lnt In ' h
Unit proU .. , on the othor hand , fall b, over 6 P"'cIM a ,eor durlnl
,
Although both cooU ancl prle. . Incr. . . ed :00,.. In thl put 4 yu r o thIn In . .rlln
yun. thl Inc . . ." . . In thl 00'1'0U.I . . . tor "u' not .. hrp ... In tho
"ctOr.
p t h . . . noatano
Tho 1961-1l Increou In thl co r porau prielO avlrlged l.5 puclM durin g this
pulo<! "hU. nonfarm prici inc ...... over.god 4.4 per.lnt.
tho terpon .. . .etcr lIavl bun ... 1l1u IV,,'Y quu.u olneo the
bash , prlel Inc"..... h
middle or 1967.
furthe,"",orl , on I quartuly
)'ho ,,,,,or rat. of p rici Inc . .... In th o corporat . . . ctOr r efhct.d to I
largl IxtU' ...... U . . inc rou . . In unit labor coo • • -- 4.) ""reon ' 1n connas. to 5.S
pucont In the non f onn "ctOr, "",lnl1 bl.lua. ""'PUt par a,an-hour 1'0" rllt . . In the
corpo r l,1 . .ctor .
Hourly cOIIIp"nut lon lid". a v . .agod
0.\>"'"
7 . 0 porcor.< • yur In both
lOeton dudnl tho 1967-11 norlod .
Nou CoS'arbS """""'roo Ind
A opodal otudy ..hlch
BLS S. .1e.
.~p . . nd
In tho ltareh 1""0 o f tho S"rve y of Curunt Bu5lne ..
pruenud anothu _uura of output per man-hour for nor.Hnaneial co'pou<1on..
!his
. . ~y includod thr_ .ypu of p",due.ivity ",",.ou.n developad by tho tlepa" ..."t of
output pc r man-hou. wo.ke d, ou'put par dollar of capi t al owned. and OUtput
pu ""I< of labo ....
~d c.pital oot>blned .
fo. each of 'ha 'hu. . . ric • • QutpU, "all valued
at factor coo .. n.ho. tha.~ ,,,. u.ual valuation at lIoII.kct p . ice. . tho c""ccpt und In
th 115 u .i. . .
.,,"'ptIOn
(KarkU
.ll"",a~c . .
prio. . ar • • qual to .h. 0..". of f oeto r co. . . plu. capitd cOn-
and indlnet buoln.. o , . .as . )
ea..o.ce and BLS .0 ,1 •• dl !f o,
o~hat
!ho l obo , Input _.o".u In th
in concop t - tho Co=ccrco Dopa.t . . nt •• ,1 •• t.
on osH ...... of hou ... IIo'kod ond tho 1 15 00 ,1. . 10 ...... u,.. of hours pold .
... c","!,orioon of tho annuol pucon, chanjl" fo . tho t"O "".put pH _n-hou. oodel
covorlng the pulod 1959-71 t. Itvon on the ioli0ll1n l POliO.
'''0 ... 1 ..
o r . attrlbutablo lo .,ely to dHforono .. In tho Y.lu.t1o~ of ou ' put end ~ot
co tho dllf.ruo . . In the labor input _uu ..e.
Dlffer.nc.. bo ,wun ,h.
•
hre.nt
Yo . .
c. .....
f ro. Prnlouo fur
C 'lItC.
...
19~9
H60
1961
1962
l-H3
1964
1965
1966
1961
1~6'
1969
,..
,.,
,.,
' .0
L'
.
••
••••
,
..,
•••
0.'
197)
].1
O. ,
un
•••
Output v alued at ..... k.' pdt...
"
11
...
,.,
I LS
.. ,
,..
L'
•••
,. ,
...
'.0
..,
L'
...
..,
,
Tabt<l
Ye a r and
q ... rta.
Output
'"
L
Total PrivatI! [COIlOllY: _~Cpul pcr Man-Ilou., Ilourly COIOpenaatlon, IInit
Cost. lind Prlt8fi. 5 .. ""on811y AdjuJlted . (Ind .. ll" a 1967 - 100)
Output
man-hour
H.l,,-hou.s
eo ..p .. nsat:lon per
,"",,-hour 11
Real
Unit labor
coat
cOIIPcn sa-
tio" per
aan-hour
~"
"~-
labor pa)'..,nts 3/
l-.pl1ell
price
deflator ./
21
1911
AlIQu n l
129.8
100 .6
12 I • 4
131. 7
133.7
135. 1
109.0
111. 7.
101. J
101. 7
101.4
102.2
110.1
122.6
123.3
123.6.
108.1
109.8.
10 l. 7
132.6
109. J
109.9p
Ill.2P
10).Or
137.9p
111. Sp
106.9
107.4
Ave.
U72
1s t ...
108.)
109.3
108.5
109.3'
1& t. • ••
2nd ...
JTd .••
4th ...
110 . 0
Pe r cont Ou",g" Over Puvioua Qu uter
..,
,.,
.. ,
'-'
,. ,
6.0
3.2.
3.'
U
",
6.3.
L'
3.0r
Mo ... l All'"
3.'
U
0.'
..,
1912
1st: ...
2. II'
!i.6p
l.4p
8.61'
1971
111 t. •••
2nd •••
",
l .d ...
4t h ...
./
6.2.
4.2r
,. ,
'"
UJ.a
119.5r
111.9
118.5
125.5p
"'
117.1
llB.4
122.7
109.6
110 ••
111. 7
112.6
lI'.Op
121.0p
" ,. ,
..,
'"
•••
Ann"al bte
2. I r
1.9r
2.2.
l e t ...
2nd •••
lTd ...
3.'
3.'
3.0 <
1.'
U
'"
1.0r
.I:h •.•
3.S.
1912
I.e ...
2. Sp
S ea 1ootnote5
al end
6.3r
..,
5.01'
6. )p
3.51'
5.3p
L'
",
3.0
5.2r
'"
6.2.
'"
'"
4. !ip
l. 1p
6.Jp
2.6p
"'
lable
,
1.2.
3.'
'"
..,
O. ,
'.3
",
2.6.
'.3
"3
2.'
...
3.3
Percent Olange 0"" Prevlo"" Year 7/
1971
lt9.l
,. ,
3. ,
3.8
3.'
2.3
,.,
'.0
6.'
l.4p
l.2p
,•
0
•
c<:v!~cd
prcll.!"~ry
..,
...
'.0
3. ,
).lp
Table 2.
,~,
."'
CI"",rt.,r
Output per
lUll-hour
Private Nonfa .... Sector: Output per Han-llour, Hourly Cocopen .. ation. Unit
Coat, and Pdees, S"asonally Adjusted, (Indexea 1967 _ 100)
lian-hours
Output
Compensation per
ll8R-bour !I
..
,,
cOlllpensstion per
IUn-hour 2/
~" Labor
eo. t
Unit nonlabor pay,..mta 11
Implicit
priee
deflstor
1971
.t. t •••
2nd •••
3rd •••
4th •.•
Aanual
,~.
1972
bt ...
1911
ht. ..
2nd ••.
ltd •.•
4th •..
ADn ....1 Ave!}
1972
1st ...
105.8
106.5
107.1
108.3
108.5
109.5
,
110.0
111.9
102.5
102.8
,
Hl.2
108.1
122.7
136.8 P
110.5 P
125.1 P
110.0
102.8
109. 3 P
113.8 P
104.1
•••
'"'
'"'
4.5 r
,
109.0
,
.. ,
•••
121.3
122.4
123.4
123.5
,
,
112.2
112.8
112.6
,
112.1
118.7
113.2 I'
120.6 P
108.0
10B.3
Pereent Ou"'S., Over P .... vio"" Quarter
,.,
,
LO
0.5
L6
,
3.'
,.,
O. ,
3.7 P
7.0 P
3.2 P
5.'
5.0
..,
,
9.) p
0<
1st ...
2od •••
3td •.•
4th •••
3.7
3.3
'.3
L3
7.3
U
L7
'.5
4.0 r
LO
5.3
,
0.'
L3
,
7.3
'.5
3.3 P
4.9 P
L5
,
1972
lat ...
•••
6.6 P
,..,,
, ,
L'
3.'
'.0
••• ,
U
5.7 P
,
O. ,
'.5
,. , ,
5.4 P
.., ,
5.5
5.3
,I
'.5
3.'
'.0
U
,
,
'.3 ,
5.'
3. 5
,. ,
L'
U
0.'
'"'
7.7
...
,.,
,
'.5
'.5
7.7
117.4
118.6
119.4
119.4
•••
0.5
,.,
'"'
,
" ,. ,
,
L7
"
ootnole8 at end o f l able 4.
Annual Rate
5.'
Pereent a'anse 0.,., Pre",ioUII Year
1971
110.9
103.3
102.6
107.0
,. ,
3. ,
'"' ,
7.'
107.4
12B.4
HO.4
132.2
ll3.8
"
2.0 P
"
,•
"
•
,
r<'vis ..,]
preLl . J
..
,
2.'
2.7 P
Tabl" 3.
Year and
quarter
Manufa c turing Sector . JUtpul pcr Man-Hour, Ilourly C(>,""en~atton, and
Unit Labor Costs, Sea~o"ally Adjusted , (lndu""~ 1967 • 100)
Output per
... n~hour
1971
ht ••.
2nd ••.
Jrd .•.
4th ...
110.1
lIl.9
H2.2
112.4
Annual Ave.
IlL5
1972
1&t ...
,I
OUtput
11) . 2 p
1.27.2
128 .6
129.9
l3l.1
106.5
106.4
106.5
106.8
U5.6
114 . 9
1I5.8
116 . 6
106 . 5
U5.6
108 . 4 P
118.5 P
,
94 . 6
94 . 7
9],9
94.6
105.3
,
94.4
95.5 I'
Annual Ave.!!,!
1972
lit ...
. ..
,..
6. ,
'.5
LO
0.'
,.
11.5
U
,
,
'-'
2.9
p
6.'
0.'
,.,
..,
1971
'.0
ht •••
2nd •••
3rd .••
,.,
,., ,
3.6
~th ...
1972
ht. ..
".
footnotes
L6
"
•
end of table
,
--
l34 . 1
,
Percent Olange Ove r
1971
ht .•.
2nd .••
3rd •••
4th •.•
pe r ""n-hour
129 . 1
101:\.1 p
,
,
•
...
,., ,
,., •
Unit labor
r.O"ts
C""'l'cnsatLon per
..",,- honr y
104. 2
106.0
105.3
106.3
,
,
Real Compensation
Man-hours
..
Pre~lOU8
"
Quarter
,.,
0.'
,., ,
,
,
,., ,
'"'
"'
,., "
Pe r cent Olangu Over I'revLou9 Year
..,
.. ,
5.'
5.'
'"'
0.'
0. '
,
5.'
,
6. ,
•
,/
L6
,., ,
'"'0
'.
6.6 P
,.,
,.,
U
0.'
,
,
,
,
"5
LO
•
0. 0
'-'
'"'
'"'
L'
I.>
'.6
...,
..
0.'
0.'
U
U
,., •
,
,
AnnuPl Rate
6.'
3.9 p
!I
•
• revhed
• pr"ll .. lnary
Tuble ~. :.onfinunc1ul C<> rp0T<)( I "n~ , (I •• tpnt per t-lan-Ilour, lIourly C""'l'ensation,
linlt Go,t_, Unit ProfHg lin,! "rl en, ~e"son"-lly Adjusted (rnJc"c s l Q Q ' 100)
Ye a ...
..,
quarter
,H
Output
"",n-llOur
R"d
Output
Man-hours
Co,"pcnsalion per
.,an-hour
.. p"n.ation per
lOan- il our 2/
"
"'''
~.o
Labor
OM'
lhl i t
llor. -\al> .. r
co~t .. 91
Un it
profi t s
Implicit
WI
pri ce
deflator
1970
Is t •••
2nd •..
l rd •.•
4 th ...
105.2
106.5
107.8
107.2
109.7
109 . 6
109.6
106.8
104.3
t02.9
101.6
99.6
U8.1
120.8
123.7
125.7
104.2
t04.3
t05.7
106.0
1I2.9
ttl. 4
114 . 8
11 7 .3
116.8
1I9.4
122 .0
127.3
74.9
77. I
76.5
7t.9
108.0
t09.1
110 . 5
]12.5
""' " uIlI Ave.
106.7
108.9
102. I
122. 2
105.1
114.6
121. 4
15.2
lJO. 1
19 71
b l •.•
Zo d •..
3ed •.•
4 t h • ••
110.0
111.0
112 . 3
113.6
L10.5
111.6
111.9
114.3
100.5
100.5
99.6
100.6
128 .0
no . I
132 .1
116.~
133.2
107.1
107.7
108. 3
108.6
117. 1
117.7
117.3
126. ~
127.3
IJO.S
131.2
83.5
85.7
83 .1
83.2
113.5
114.5
115.1
115.0
Annua l AVQ.
111.7
112.1
100.4
1l0.7
107.8
117.1
128.7
83.9
114.5
Annual RIIt., 51
Perc.mt Olange Over Previous Qunrte r
1910
I s t ••.
2nd •..
3r d •..
,.,
'"
,.,
L2
10.9
14.8
'.0
0.'
'-'
'-'
20 d •••
Jrd •• •
4t h •••
Arloua l Ave.!!.1
,.,
,. ,
,.,
2.'
O. ,
L'
..,
,. ,
,.,
, .2
'.0
h ••.
lll"l,,-S
"'
a"d
,.,
'"'
,.,
'-'
,. ,
'-'
0.2
2.'
,.. ,
,,
U
'.0
10.3
'-'
,.,
,.,
,.,
,.,
2.2
'.0
'.0
o. ,
'-'
, .0
O. ,
...
,.,
18. J
10. I
-22.0
-13.1
U
2. ,
'.2
'-'
- ,.,
'-'
,.,
0
'
t"bl ~
-3 .7
10.5
' .2
'"'
-17 . 5
-
,.,
12. 2
10 . 5
LO
,.,
81. 9
11.0
-11.8
0.'
2.6
'-'
'-'
' .0
11.6
,.!
.. ,
,.,
II. S
J 1. 2
LO
'-'
Percent Ch a nge 0"" Prev ious 'fear
,.,
1911
1s t. ..
:l nd ••.
3t d •..
.
'-'
U
lst •••
,
o. ,
'-'
4th •..
Arloual Ave.!!.1
1971
~t
2. 2
0.'
"
'.0
'"'
-2.3
-2.0
'-'
'-'
,.,
'-'
.. 0
6.0
2. '
21
'-'
2. 2
'-'
,
.
2.2
2.'
0.0
rcvls<lcl
2. ,
"
,.,
15.6
- preU",lo:try
,.,
,. ,
'-'
..,
u
2.'
2.'
'-'
0.2
'.0
,.,
!,
.9
1. . 1
2. I
-
FOOTNOTES, TABLE S 1 TO 5
Sou~ce:
Output data from the Bureau of Economic Analy s ts,
U. S. Department of eo=erce and the Federal Reserve Board. Compensation and man-hou~s data from the Bureau of Labo r Statistics,
U. S. Department of Labor and the Bu~eau of Economic Analysis.
11 Wag~s and salaries of employees plus ectployers' contributions
for soctal insurance and private benefit plans. Except for nonfinancial
corporations, where there are no self-employed, data also includes an
estimat e o f wages, sala~ies and supplemental payments for the ael!emp loyed .
II Compensation per man-hour adjusted f or changes in the
Pdce Index.
Consu~r
21 Nonlabor pa~ents include pr ofits, depreciation, in t erest,
rental income and indirect taxeS .
!!I Current
gr oss product.
dolla~
gross product didd ed by constant dollar
51
P~rcent
6/
Percentage change of annu al average.
ch ange compound ed at annual
~ate
fro~
origlnal
data .
2 1 Current quarter divided by cOl:1parabh quarter a year ago.
!I Quarterly ... asures adjusted to annual esti,"at ~ s of output
(gross product originating) fro," the guresu of Economic AnalYSiS ,
U. S. Departmen t of C~erce.
~I
Unit nonl abo~ cost s include
indirect taxeS.
lQl
inte~est
and
Uni t profits include corporate profits and inventory valuation
adjust"'~nt.
dep~eciation ,
TilUlc 5.
Ye.,r iwd
Quarter
U"tPut W
,e,
Output
11.,0-ho"rs
.Hln-hour
U62
".7
...,
".,
81.8
Rell'
I 00 compeos"tlon per
I' e r
!"Iim- hOl'r 11 !"Ian-hour 11
r:orlpP.O~il
".J
Uolt
Uot t
Uolt Implicit
' ahor oOll-I"l>o r prof I ts pr i ce
d..,fletor
cost
costs i l
.1.0.1
" ..
.~.
13.6
74.6
75.7
76.4
85.7
15.1
81.6
....
2nd ...
3rd ••.
4th •••
76.9
7B. 2
79.8
8B. 1
88 . 9
89.2
82 . 3
82.7
83.6
84.6
90.2
90.5
90.8
91.6
94.4
9'.1
9).5
73.6
94.7
94.9
9).8
94.1
90.9
93.9
96.5
96. B
93.9
94.2
94.0
94.2
83 . 4
90.9
93.9
94.5
94 .6
94.1
91.2
92.0
86 . I
86.9
88.1
88.6
92.9
9).7
94.6
94.8
93.3
93.6
94.0
94.9
94.3
94.5
94.6
94.9
100.4
101.0
101.6
98.9
94.6
94.9
95.3
95.5
87.9
81.8
79.6
t
".7
87. I
la t ••.
Ann".l
APPEUIl . X
1',1n-hour, "ourly Compp.nsat lon,
lIoof'o"or;I,,' r:orpor,1t Inns: Outpu C
Unl t CO!it~, Un.t Pr of t ts iI.·n PrlCf'~, !jellsonally ,\djust..,d
(Indf'xc~ 1%7 • I~O)
81.0
81.6
8a.a
89. I
89.6
94.0
94.5
94.0
93.7
93.9
93.3
93.'
93.9
91.9
91.0
92.1
93.2
"'.,
B8.9
94.0
93.6
92 . 1
93.7
"'.J
93.7
93.6
93.7
1.963
In ...
2nd ••.
3 r d •.•
4 th •••
90.4
"'.,
....
Ann".l Av ...
88.8
78.9
88.9
1.964
lat •••
2nd .•.
l rd ••.
4th ...
92.3
92.8
9).7
93.4
82.6
83.9
85.4
85.9
93.0
".,
90.8
87.4
94.0
9a.9
94.9
100.4
95. I
1965
lat •.•
21Od ...
3d ...
4th ...
95.1
95.9
97. 1
98.2
88.9
90.5
92.5
95.0
93.5
94.4
95.3
96.1
".7
90.6
88.9
91.6
95.0
95. I
95.7
96.3
93.5
93.5
93.3
93.3
94.8
94.4
9). I
92.3
106.4
106.3
107.1
109.7
95.7
95.7
95.4
95.6
""nud Ave.
96.5
91. 7
95.0
".7
95.4
93.4
93.5
107.4
95.6
..... nud
.~
a1. 2
87.9
.
Se .. {ootnot•• at end of Tabl. 4.
" ..
89.5
T.1L> I (!
V e i l!'
Q U . IT
;}nd
t,·,
nut pU t
!le r
,.
lIPP[IHII X
lIullf I ".me I .11 COTl' u rati,m s: Ollt l)ut Pl' r I :.m-h ou r, Itollrl y COMp .. nSiI t lon,
U111 t Costs, Un I t rr (> f i t:; a ud Prl c " s, 5c.,,,onl'lll 'J Adjllsted
(I n<!"";" ,!S 1%7 • I n'l l
I)Utl'IIt
Ila,,-hours
'!.III-hour
111'.' I
COf ' Pf'n ::.1t 1o" r.om,>I'nSII1>1' •
t I 011 I"' r
nm·-t .nllr 11 ,,;111 -hnll' 11
19 58
.,.,
72.2
n.o
74.1
75 . 7
76.9
58.8
60.7
63.2
14.8
60.5
.,. ,
69.8
.,
77.1
4th ...
79.1
17.9
78.2
65.4
68. 2
66.6
67.0
84 . 8
86.3
85 • .5
85.8
71.2
72. 3
72.6
72.9
.,..""".,1 IIva.
78. I
66.6
85.6
79.3
79 . .5
79.1
79.0
69.6
69.2
68.2
66.9
87.7
87.1
86.2
84 . 6
79.2
68.S
86.4
75. 1
,4.1
79 .1
81.4
82.5
8•. 1
66.3
68.4
70. I
72.3
Bl.8
84. 1
85.0
76 . 3
77.3
77 .9
78. 7
81.8
69.3
77.6
ootnote. a t and
or TablQ 4.
l at .,.
2nd •••
J.d ...
~th
...
Ann"" 1 live.
Bl.8
79. )
".3
82.2
68.3
69.5
10.4
70.7
79.4
I mpl Ic ! I
Unt t
Unl t
Un! t
IlIhn r non -I nho r prof I ts p ri ce
<leflator
cns t
cos u
.lJ!1
"
94.6
93.7
93. 1
92.0
.... ...,
90.'
87.0
88.0
15.7
18.9
85.1
96.3
90.3
90.8
91.2
93.3
".3
85.1
90.6
82. 2
83.1
82.9
82. 9
92.3
91.5
93.2
93.3
83.0
81. 2
84.6
86. J
99.1
10.5.0
9.5.0
93.3
91 ••
91.7
91.8
72.3
82.8
92.5
83. 1
98 . 4
91.6
74 .2
75.2
75.4
84.3
84.9
85.0
93.5
94.6
95.3
75 . 7
85. I
86.1
87.8
M ••
9S.8
to. ,
96.5
93.0
88. J
83.9
92.2
92.6
92.7
92.9
94.8
87.2
90.4
92.6
85.4
86.6
86.8
87.5
96.4
94.4
93.7
91.8
91.6
91. I
90.5
8. . 1
1
88. 4
89.8
96.2
93.1
93.3
93.0
93.4
86.6
94.8
!It . 2
.",
93.2
81. 2
81. .5
..
, g59
l st. ••.
2nd ...
3 r<.i •••
9l.~
) ~ 60
J. ~t ...
2nd ...
lTd ..•
4 t h . ..
'", n"a l Ava.
1961
loIt ••.
2nd ...
3r d ...
4th • ..
:~ n "
..,
... l
.
~.
....
....
n.o
T"blc- 5 •
y.., .. r .lI "I
Q .. t el"
""
I"': I"' ''
",m-Iou" r
nu t
APl'ft;(11 X
Ii,,,, ' I ".,(1,:1.11 rorl'nr;>r In,,!: : n(J,p(J~ !I( r ' .~, . · I,nu r, Iin" .. ly (;0"'+>"" 5.' t i on,
e,,';: r.",;t ·.,
Pr i <:,'~"
~ea~O'''III., Adjusted
t I'r"fit~
( I nd , -,;., c ~ I ~ I. 7 • 1nf. )
1l";: I )"~
,,,,<I
() n'
1'.l,,·h"«r ~
C' "'I,'·"· ..·" r..,,,
I'" r
,,,,,, ·Io,,,,r
11
::,. " I
<:'" ,[' (' ,,~.~~ i on I'" r
"""·10",,.-
11
11,,1 t
lJ ni t
Un i l
I r.w, I.<: l t
1"hor non-I;II,<>r prnflt 5 pr 1c ..
<:os t
C05t~ 01
<lcf l"to r
.l!lI
1966
at ...
4t h •.•
98.7
98.7
99.2
99.6
97 . 0
98.1
99 . 4
100.2
Annua l Ave.
99.0
97.0
9].4
97. 6
9B .4
94.3
95.7
100.2
100 . 5
93 .0
94.4
95 . 6
97.0
98.7
99 .6
95.0
9B.6
99.8
loo.4
101.0
98.9
99.3
100.3
10\. 5
100.3
99.5
99 . 9
100 .4
100.0
100.0
2nd ...
l Td •..
4 t h ...
102.8
104.2
104.8
105 . 4
Annual Ave.
19 69
1. t •••
2nd ...
l Td ••.
4ti1 ••.
97.3
109.3
108.2
107.3
107.8
96.0
96.9
97.5
98.3
97.7
95.9
93.3
108.0
97.2
97.8
99.3
loo . 7
11:12.1
99 . J
99.9
100. J
100.8
99 .2
99.5
loo .)
10}'0
97.5
99.4
101. 0
102.1
101.0
100 .6
99.1
99.3
99.1
99.6
loo.)
101.0
100.0
100.0
100.0
100.0
100.0
100 . 0
100.0
103.7
105.9
107.3
108.5
100.9
101.6
102.4
102.9
104.4
106.3
108.0
110. 2
102.1
102.6
103.0
103.9
101.5
102.0
103.1
104.5
103 .0
103. 4
104 .1
105.4
99.5
101.9
100.4
97.3
101.5
102.3
101.9
103.6
104 . 3
106.4
102.0
107.2
102.9
102.8
103 . 9
99.7
102.5
105.3
105 . 6
105.5
105.6
1967
h t ...
2nd ...
l Td •••
4 t h ...
M n ... l
98.3
91. 7
92.5
93.6
94 . 3
109.3
110. 5
1l0.9
110 . 7
103 .6
104 .7
105 .1
104.8
111. 7
113.6
U5.5
11 7 . 5
104 . 1
104 .1
104 .3
104.8
106 .1
107 .6
109. 4
111 .3
106.8
108.8
111. 8
113 . 9
93 . 3
89.1
114 . 6
78.6
104.3
105.1
106.2
106.9
105.5
110.3
104 . 6
114.6
104.4
108 .6
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86.5
105.6
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96.4
1968
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