Full text of Productivity and Costs : First Quarter 1987

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

News

Bureau of Labor Statistics

United States
Department
of Labor
Washington, D.C. 20212

Historical* technical
information: (202) 523-9261
Current data : (202) 523-1221 or 1208
;w?dia contact: (202) 523-1913

USDL 87-175
For Release:10:00 AM EOT
Monday, May 4, 1987

PRQOJCTIVm MB) COSTS
First Quarter 1987
The Bureau of Labor Statistics of the U.S. Department of Labor today
reported preliminary productivity data—as measured by output per hour of all
Arsons—for the first quarter of 1987.
Based on preliminary data, the
seasonally-adjusted annual rates of prodQctivily change in the first quarter
were:
1.8
1.7
1.4
1.6
1.2

percent
percent
percent
percent
percent

in
in
in
in
in

the business sector,
the nonfarm business sector,
manufacturing,
durable goods manufacturing, and
nondurable goods manufacturing.

First-quarter measures are summarized in table A and appear in detail in .
tables 1 through 5. Productivity rose in all sectors in the first quarter and,
combined with moderate gains in hourly compensation, contributed to falling
unit labor costs.
Buaineaa

Productivity increased at an 1.8 percent annual rate during the first
quarter of 1987 in the business sector, as output rose 5.1 percent and hours of
all persons engaged in the sector increased 3.2 percent (seasonally adjusted
annual rates). During the fourth quarter of 1986, productivity dacUned 2.0
percent/ as output grew more slowly than hours (table 1). The Increase in
output during the first three months of 1987 was the largest .since the first
quarter of 1984 (when output rose at a 12.2 percent annual rate).
Hourly compensation increased only 0.4 percent during the first quarter of
1987, the smallest quarterly gain in this series since the third quarter of
1960 (when it fell 1.0 percent). This measure includes wages and salaries,
supplements, employer contributions to enployee-benefit plans, and taxes. Unit
labor costs, which reflect changes in hourly compensation and productivity,
declined at a 1.4 percent annual rate during the first quarter, the first
decline in this measure in a year. During the fourth quarter of 1985, these
costs rose at a 4.2 percent annual rate.
Real hourly compensation, which takes into account changes in the Consumer
Price Intex for All Urban Consumers (CPI-U), declined at a 4.G percent annual
rate in the first quarter, compared with a 0.6 percent decline in the fourth
quarter of 1985.




-2-

Table A. Productivity and costs: Preliminary first quarter 1987 measures
(Seasonally adjusted annual rates)

Sector

Productivity

Output

Hours

Hourly
compensation

Real
hourly
compensation

Unit
labor
costs

PRELIMINARY
Percent change from preceding quarter
Business
Nonfarm business
Manufacturing
Durable
Nondurable

1.8

.

1.7
1.4
1.6
1.2

5.1
5.4
2.8
2.2
3.7

3.2
3.6
1.3
0.6
2.4

0.4
0.1
-0.9
-2.2

1.5

-4.6
-4.9
-5.9
-7.1
-3.6

-1.4
-1.6
-2.3
-3.7

-0.2
-0.4

2.1
1.7

-0.7
-0.7
-0.3

-0.4
-0.2
-0.7

0.2

Percent change from same quarter a year ago
Business
Nonfarm business
Manufacturing
Durable
Nondurable

0.0
Q.I
2.0
1.7
2.7

2.4
2.8
2.1
0.8
4.3

2.5
2.7
0.1
-0.9
1.6

2.0
1.8
1.6
1.5
1.9

The implicit price deflator for the business sector, which reflects
changes in unit labor costs and unit non labor payments, increased 3.0 percent
in the first quarter.
Honiara buaineaa
Productivity increased 1.7 percent in the non farm business sector during
the first quarter of 1987, as output rose 5.4 percent and hours of all persons
increased 3.6 percent. As in the more comprehensive business sector repor ed
above, the first-quarter increase in productivity followed 2 quarters of
decline. The increase in output was the largest since the first quarter of
1984. During the fourth quarter of 1986, productivity declined 1.5 percent in
this sector (table 2).
Hourly compensation edged up 0.1 percent in the first quarter, but
declined at a 4.9 percent annual rate when the rise in the CPI-U is taken into
account. Unit labor costs declined 1.6 percent, compared with a 4.2 percent
rise during tile fourth quarter of 1986.
The implicit price deflator for the nonfarm business sector
sect
rose 3
percent in the first quarter, compared with a 0.3 percent decline one .\iar earlier.




-3-

Manufacturing
Productivity increased;at • a 1^4 rperGentr.seasonably adjuafeed annual rate in
manufacturing in the first quarter... of :11987, asw: output .rose 2.8 percent and
hours of all persons increased-: 1.3 percent.(seasonaJ.Ly,;adjusted::annual rates).
In contrast to the business:sectors/^manufacturingc^^
in
the first quarter of 1987 than:: in; the^l
Hourly compensation- of : rrBnufaet^iriiig^w0rkers:^deelined::Oi9 percent during
the first quarter/ as a = rise~i in-.:nondurables;"^as^^nore ^tharv:x»f:fset by aj decline
in durable goods.
Real .,,. hourly;- compensations f onr the^ whote: seetor r fell 5.9
percent when the increase incransun^ripricea^
Unit labor
costs declined at a 2.3 percent;: annual.:: rater compared.: with a 2.3 percent
increase during the f our th: quarter o£f 1986.
Both durable and nondurable^ goodsv: subseetors • experienced; productivity
increases in the f irst quar±err ( tabiea• < 4 > 5 ) . WMtea: oufcpat ; increased : in ;~both
subsectors/ hours of all persons- increasedi^rainly> in^•• nondttrables .
Fourth quarter measures for^
Fourth-quarter 1986 measureseof"productivity;^and coats^were .also announced
today for the nonfinancial corporate seeton/ together:: with revised annual
movements (tables B and C). Output':per;:all.*einployeerhour; increased .1.4 percent
from the third to the fourth quarter: of;.J.986> asrvoatput increased 4.1 percent
and all-enployee hours increased:;.2.7 percent... la : the. first two quarters of
1986 / productivity declined; but" increases: were -recorded^ for the third and
fourth quarters (table 6). Hourly compensated
the
fourth quarter/ but declined:: 0.3: percent:^hen:; the^rrser-in: the^CFI^O is taken
into account. Unit labor rcostasrose Oi^
3.6 percent / and unit prof i ts:~ rose^i: 2. 8£ percent.: The - inpllcit def la tor for
nonfinancial corporate output;;was^unchanged^imtthe3 fourth:quarter.

Table B. Nonfinancial corporations: Preliminary fourth : quarter and revised
1986 annual productivity and /cost ;meaaures
Quarterly change at seasonally ad justed annual: ra tea
(Percent change)

Period

Productivity Output

Real
Hourly
hourly Unit
Implicit
compen- corapen- labor Unit
price
Hioura^ safeion safeionr costa-v profits def la tor

1986 III1986 IV

1.4

4.1

2.7

2^3

1985 IV1986 IV

0.2

1.7

1.5

1.9

0.6

1.7

4.2

1.7

1986 Annual

0.1

1.9

1.8

2.4

0;5

2.3

0.7

1.9




0,9

0.0

Table C. Nonf inanciai
in productivity and
Percent

Period

annual change

Preliminary, 0,0
Revised
0*1

1.9

-0.5
•'

The
EOT Tuesday, June, 2,
.
quarter measures^ f 6r7businesgf n
—




Implicit
price
profits^ deflator

Productivity Output-, Hpurs^

•",-...,„".

. , ,.

."'<:.*•

-.i^l-J. .

-S

.2*3*
• •^...-v. ,- -i j

will

;for 10:00 AN
be preliminary
first-

-5TBCHNICAL MOTES

Business sector output is equal to gross national product in constant 1982
dollars/ less the rest-of-the-world sector/ general government, output of
nonprofit institutions, output of paid employees of private households/ rental
value of owner-occupied dwellings, and the statistical discrepancy in computing
the national income accounts* Corresponding exclusions are also made in labor
inputs. Business output has accounted for about 77 percent of gross national
product in recent years.
Total manufacturing measures are computed by summing series prepared for the
durable and nondurables goods sectors.
The durable sector includes the following 2-digit SIC industries:
Primary
metals; fabricated metal products; nonelectrical machinery; electrical
machinery; transportation equipment; instruments; lumber and lumber products;
furniture and fixtures; stone, clay, and glass products; and miscellaneous
manufactures. The nondurable sector includes these 2-digit SIC industries:
Textile mill products, apparel products, leather and leather products, printing
and publishing, chemical and chemical products, petroleum products, rubber and
plastic products, food, and tobacco products.
Manufacturing output has accounted for about 24 percent of gross national
product in recent years.
Nonfinancial corporate output is equal to gross national product in constant
1982 dollars, less the rest-of-the-world sector, general government,
unincorporated business, output of nonprofit institutions, output of paid
employees of private households, rental value of owner-occupied dwelling, the
output of corporations engaged in banking, finance, stock and commodity
trading/ and credit and insurance agencies, and the statistical discrepancy in
computing the national income accounts. Nonfinancial corporate output has
accounted for about 59 percent of gross national product in recent years.
The productivity and associated cost measures in this news release describe the
relationship between output in real terms and the labor time involved in its
production. They shew the changes from period to period in the amount of goods
and services produced per hour. Although these measures relate output to hours
of all persons engaged in a sector, they do not measure the specific contribution of labor, capital, or any other factor of production.
Rather* they
reflect the joint effects of many influences, including changes in technology;
capital investment; level of output; utilization of capacity, energy, and
materials; the organization of production; mangerial skill; and the
characteristics and effort of the work force.




-6Table 1. Business sector: Productivity/ hourly compensation, unit labor cost, and prices, seasonally adjusted
Year and
quarter

Output per

Output

hour
of all persons

Hours
of all
persons

Compensation per
hour(l)

Real
compensatibn per
hour (2)

Unit
labor
cost

Unit nonlabor payments(3)

Implicit
price
deflator (4)

Indexes 1977=100

1986

1987

I
II
III
IV

107 .3
107 .4
107 .3
r!06 .8

125.3
125.4
126.0
r!26.8

116.8
116.7
117.4
118.7

179.1
180.4
181.7
182.6

99.2
100.2
100.4
100.2

167.0
163.0
169.3
rl71.0

162 .2
161 .9
163 .4
r!59 .7

165.3
165.8
167.2
167.0

ANNUAL

107 .1

r!25.9

117.5

180.9

100.0

r!68.8

r!61 .8

166.3

I

pl07 .2

p!28.3

pl!9.7

pl82.8

p99.0

p!70.4

p!64 .3

pl68.2

Percent change from previous quarter at annual rate(5)

1986

1987

4.7
0.3
2.0
r2.4

1.4
-0.2
2.4
4.6

2.5
2.8
2.9
r2.0

0.9
4,2
0.4
-0.6

-0.7
2.3
3.3
r4.2

6.6
-0 .7
3 .7
r-3 .6

1.8
1.2
3.4
r-0.4

0.7

r2.6

1.9

3.2

1.2

2.5

rl .3

2.1

Pi .8

p5.1

p3.2

pO.4

p-4.6

p-1.4

pll .9

p3.0

I
II
III
IV

3.3
0.5
-0.4
r-2 .0

ANNUAL
I

.

Percent change from corresponding quarter of previous year

1986

1987

I
II
III
IV

1.5
1.0
0.0
rO .3

3.3
2.5
2.0
r2.4

1.8
1.6
2.0
2.0

3.9
3.4
3.0
2.6

0.8
1.7
1.3
1.2

2.4
2.4
3.0
r2.2

2.5
1 .2
1.2
rO .1

2.4
2.0
2.4
1.5

ANNUAL

0.7

r2.6

1.9

3.2

1.2

2.5

rl .3

2.1

I

pO .0

p2.4

p2.5

p2.0

p-0.2

p2.1

Pi .3

pi .8

See footnotes following table 6,
r~revised
p=preliminary



May 4, 1987
Source: Bureau of Labor Statistics

-7-

Table 2. Nonfarm business sector: Productivity/ hourly compensation, unit labor cost/ and prices/ seasonally adjusted
Year and
quarter

Output per
hour
of all persons

Output

Hours
of all
persons

Corapensation per
hour(l)

Real
compensation per
hour (2)

Unit
labor
cost

Unit nonlabor payments (3)

Implicit
price
deflator (4)

167.1
16V. 5
169.0

Indexes 1977=100
1986

1987

I
II
III
IV

105.7
r!05.3

125.1
125.3
126.1
r!27.0

ANNUAL

105.5

r!25.9

119.3

r!79.8

99.4

r!70.4

r!63.9

169.1

I

p!05.7

p!28.6

p!21.7

pl81.6

p98.4

p!71.8

p!67.2

p!70.2

9.3
-0.6
5.5
r-8.G

2.3
1.0
3.6

r-0.3

105.6
105.7

118.5
118.5

178.3
179.3

98.3
99.7

168.8
169.6

163.9
163.7

119.4
120.6

180.4
181.6

99.6
99.6

170.7

r!72.5

165.9
r!62.2

r!68.9

Percent change from previous quarter at annual rate (5)
1986

1987

I
II
III
IV
ANNUAL

I

0.5
-0.3
r-1.5

5.1
0.6
2.6
r2.7

0.8
0.1.
2.9
4.3

3.1
2.3
2.3
2.7

1.5
3.6
-0.1
0.0

-1.2
1.8
2.6
r4.2

0.7

r2.8

2.0

3.0

1.1

2.3

r2.0

2.2

pi. 7

p5.4

p3.6

pO.l

p-4.9

p-1.6

p!2.9

P3.1

4.3

Percent change from corresponding quarter of previous year
1986

1987

3.6
3.1
2.8
2.6

0.5
1.4
1.2

2.5
2.2
2.6

3.1
1.8
1.7

r2.8

2.1
1.8
2.1
2.0

1.2

rl.8

rl.2

2.7
2.1
2.3
1.6

0.7

r2.8

2.0

3.0

1.1

2.3

r2.0

2.2

pO.l

p2.8

p2.7

pi. 8

pi. 7

p2.0

pi. 8

I
II
III
IV

1.2
0.8
0.2

3.3

rO.7

ANNUAL

I

See footnotes following table 6.
r=revised
p=preliminary



2.7
2.3

p-0.4

May 4/ 1987
Source: Bureau of Labor Statistics

-8-

Table 3. Manufacturing sector: Productivity/ hourly compensation, and unit lab>r cost/
seasonally adjusted
Year and
quarter

Output per
hour
of all persons

Output
(6)

Hours
of all
persons

Compensation per
hour(l)

Real
compensation per
hour (2)

Unit
labor
cost

Indexes 1977=100
1986

1937

I
II
II.I
IV

123.7
124.7
125.8
125.8

122.8
122.7
123.6
124.6

99.3
98.4
98.2
99.0

180.2
181.4
182.5
183.5

99.8
100.3
100.8
100.7

145.7
145.5
145.1
145.9

ANNUAL

125.0

123.4

98.7

181.9

100.5

145.5

I

p!26.2

p!25.4

p99.4

p!83.0

p99.2

?145.0

Percent change from previous quarter at annual rate (5)
1986

1937

I
II
III
IV

2.6
3.2
3.6
r-0.2

3.0
-0.4
2.9
r3.2

0.4
-3.5
-0.6
3.4

2.1
2.7
2.4
2.1

0.5
4.1
0.0
-0.6

-0.5
-0.5
-1.1
r2.3

ANNUAL

2.7

2.5

-0.2

r2.9

1.0

0.3

pi. 4

p2.8

pi. 3

p-0.9

p-5.9

p-2.3

I

Percent change from corresponding quarter of previous year
1936

1987

I
II
III
IV

3.7
2.5
2.3
2.3

3.4
2.3
2.0
2.2

-0.3
-0.2
-0.3
-0.1

3.7
3.3
2.5
2.3

0.6
1.6
0.8
1.0

0.0
0.8
0.2
0.0

ANNUAL

2.7

2.5

-0.2

r2.9

1.0

0.3

I

p2.0

p2.1

pO.l

pi. 6

p-0.7

p-0.4

See footnotes following table 6.
r=revised
p=preliminary




May 4/ 1987
Source: Bureau of Labor Statistics

-9-

Table 4. Durable manufacturing sector: Productivity, hourly compensation/ and unit labor cost/
seasonally adjusted
Year and
quarter

Output per
hour
of all persons

Output
(6)

Hours
of all
persons

Compensation per
hour(l)

Real
coropensation per
hour(2)

Unit
labor
cost

Indexes 1977=100

99.1

140.8

125.7
126.2
127.2

99.9
98.7
98.2
98.8

178.9

IV

127.1
127.4
128.6
128.7

180.2
131.3
182.6

100.1
100. 1
100.2

141.4
141.0
r!41.9

ANNUAL

127.9

126.5

98.9

180.7

99.9

141.3

pi 29. 2

p!27.9

p99.0

pl81.6

p98.4

p!40.6

0.6
4.1
0.0

0.1
1.7

I
II
III

1986

1937

I

126.9

Percent change from previous quarter at annual rate(5)

1936

I
II
III
IV
ANNUAL

1987

I

-0.6
-4.8
-1.8
r2.u

2.2

rO.4

1.5
-3.3
1.8
r3.1

2.5
3.0

rO.3

-1.2
r2.6

r2.6

1.5

r-1.1

3.3

1.4

0.7

pi. 6

p2.2

pO.6

p-2.2

p-7.1

p-3.7

2.1
1?.0
3.7

2.8'

Percent change from corresponding quarter of previous year
I
II
III
IV

4.7
2.4
1.8
1.8

3.5
1.3
0.5
0.6

-1.1
-1.1
-1.3
-1.2

4.1
4.0
2.7
2.6

0.9
2.4
1.0
rl.2

-0.6

ANNUAL

r2.6

1.5

r-1.1

3.3

1.4

0.7

pi. 7

pO.8

p-0.9

pi. 5

p-0.7

p-0.2

1986

1987

I

See footnotes following table 6.
r=revised
p^preliminary



1.6
0.9
0.8

May 4, 1987
Source: Bureau of Later Statistics

-10Table 5. Nondurable manufacturing sector: Productivity, hourly compensation/ and unit labor cost/
seasonally adjusted

Year and
quarter

Output per
hour
of all persons

Output
(6)

Hours
of all
persons

Compensation per
hour(l)

Real
compensation per
hour (2)

102.0
102.1
101.6

153.6
152.1
151.8
r!52.4

Unit
labor
cost

Indexes 1977=100

1986

1937

I
II
III
IV

120.7
121.7
121.4

116.7
118.2
119.6
120.6

98.3
97.9
98.2
99.3

182.2
183.5
184.8
rl85.1

ANNUAL

120.6

rl!8.8

98.5

r!83.8

101.6

152.5

I

pl21.8

p!21.7

p99.9

P185.8

plOO.6

p!52.5

118.6

100.9

Percent change from previous quarter at annual rate(5)
1986

1987

IV

3.5
7.0
3.6
r-1.1

5.6
5.3
4.3
r3.5

2.0
1.6
11 4.6

2.2
2.9
2.7
rO.7

0.6
4.2
0.3
r-1.9

-1.3
-3.9
-0.9
rl.8

ANNUAL

2.8

4.1

1.2

2.5

0.6

-0.3

pi. 2

p3.7

p2.4

pi. 5

p-3.6

pO.2

I
II
III

I

Percent change from corresponding quarter

1986

1987

I
II
III
IV

2.2
2.7
3.1
3.2

3.1
4.0
4.4
4.8

0.8
1.3
1.2
1.5

3.3
2.3
2.4
2.1

0.2
0.6
0.8
rO.8

-0.4
-0.7
-1.1

ANNUAL

2.8

4.1

1.2

2.5

0.6

-0.3

P2.7

p4.3

pi. 6

pi. 9

p-0.3

p-0.7

I

See footnotes following table 6,
r=revised
p=preliminary



of previous year
1.0

May 4, 1987

Source: Bureau of Labor Statistics

-11Table 6. Nonfinancial corporations: Productivity/ hourly compensation, unit labor cost/ unit profits/
and prices, seasonally adjusted
Year
and
quarter

Output
per allemployee
hour

Output

Employee Hourly
Real
hours compensa- hourly
tion
compen(1)
sation(2)

Unit
labor
cost

Unit
nonlabor
cost(7)

Total
unit
cost
(3)

Unit
profits
(9)

Implicit
price
deflator
(4)

Indexes 1977=100

1935

IV

106.0
106.5
107.8
107.0

123.1
124.2
126.0
126.1

116.1
116.6
116.8
117.8

169.9
171.6
173.1
174.5

97.0
96.9
97.2
97.0

160.3
161.1
160.5
163.0

178.5
179.8
173.3
179.3

164.9
165.3
165.0
167.2

129.3
130.2
141.7
131.2

160.6
161.6
162.2
162.9

ANNUAL

106.3

124.8

116.9

172.3

97.0

161.2

179.1

165.8

133.1

161.3

I
II
III
IV

106.9
106.3
106.9
p!07.2

126.9
126.6
127.0
pi 28. 3

118.7
113.5
118.8
pl!9.6

175.4
176.1
176.8
p!77.8

97.1
97.8
97.7
p97.6

164.0
164.8
165.4
p!65.8

181.1
179.9
132.6
pl30.9

163.3
168.6
169.3
p!69.6

131.7
132.3
135.8
p!36.8

164.0
164.3
165.7
p!65.7

ANNUAL

106.9

r!27.2

rl!9.0

176.5

97.5

r!65.0

rl81. 2

r!69.1

r!34.1

164.9

-3.6
3.0
40.1
-36.4

2.2
2.3
1.7
1.7

I
II
IU

1986

Percent change from previous quarter at annual ..B0a<!5- ^
198-5

1986

3.0
2.0

2.2
3.0

-1.4

-3.3

6.3

3.3

2.8
2.3
-1.9
5.5

0.3

2.7

2.6

2.7

-0.2

2.4

2.0
1.6
1.8
p2.3

0.4
2.9
-0.6
p-0.3

2.5
1.9
1.6

3.1

-2.7

pO.9

p-3.6

2.7
0.6
2.8
p-0.3

1.3
2.0
11.0
p2.3

2.5
0.7
3.6
pO.O

2.4

0.5

r2.3

rl.l

r2.0

rO.7

1.9

rv

0.8
2.2
4.9
-2.8

3.2
3.7
5.9
0.5

2.4
1.4
1.0
3.4

3.8
4.2
3.4
3.3

0.5
-0.3
1.1
-0.5

ANNUAL

1.2

3.7

2.5

3.9

I
II
III
IV

-0.5
-0.3
0.2
pi. 4

2.6
-1.1
1.3
p4.1

3.1
-0.3
1.2
p2.7

ANNUAL

rO.l

rl.9

1.3

I
II
IIC

6.1

Percent change from corresponding quarter of previous year

1935

1986

I
II
IIC
IV

0.6
0.6
2.2
1.2

4.1
3.1
4.2
3.3

3.5
2.5
2.0
2.1

3.8
4.1
3.9
3.7

0.2
0.4
0.5
0.2

3.2
3.5
1.6
2.4

4.3
3.9
1.1
1.3

3.5
3.6
1.5
2.1

-3.8
-5.9
8.7
0.6

2.7
2.6
2.2

ANNUAL

1.2

3.7

2.5

3.9

0.3

2.7

2.6

2.7

-0.2

2.4

I
II
CII
IV

0.9
0.3
-0.9
pO.2

3.2
2.0
0.8
pi. 7

2.2
1.7
1.7
pi. 5

3.2
2.6
2.2
pi. 9

0.1
1.0
0.5

2.3
2.3
3.1

pO.6

pi. 7

1.5
0.0
2.4
pO.7

2.1
1.7
2.9
pi. 4

1.8
1.6
-4.2
p4.2

2.1
1.7
2.1
pi. 7

ANNUAL

rO.l

rl.9

1.3

2.4

0.5

r2.3

rl.l

r2.0

rO.7

1.9

See footnotes following table 6.
r-revir,ed
p-preliminary




2.0

May 4, 1937
Source: Bureau of Labor Statistics

-12SOURCE:
Output data from Bureau of Economic Analysis, U.S. Department of
Commerce/ and the Federal Reserve Board. Compensation and hours data from the
Bureau of Labor Statistics/ U.S. Department of Labor, and the Bureau of
Economic Analysis.
RELIABILITY:
Productivity and cost measures are regularly revised as more
complete information becomes available. Preliminary results are published 30
days after the close of the reference period; revisions appear 30 days later/
and second revisions after an additional 60 days. In the business sector/ the
probability is 0.95 that the third publication (second revision) of a quarterly
index of output per hour of all persons will differ from the preliminary value
by between -1.9 and 4-2.0 index points*
This interval is based on the
performance of this measure between the first quarter of 1976 and the second
quarter of 1986
Footnotes, Tables 1-6
(1) Wages and salaries of the employees plus employers' contributions for
social insurance and private benefit plans.
Except for nonfinancial
corporations/ where there are no self-employed/ data also include an
estimate
of wages/
salaries, and supplemental
payments
for the
self-employed*
(2) Compensation per hour adjusted for charges in the Consumer Price Index for
All Urban Consumers.
(3) Unit nonlabor payments include profits/ capital consumption allowances/
interest/ rental income of persons/ anr2 indirect taxes.
(4) Current dollar gross product divided by constant dollar gross product*
(5) Quarterly changes:
percent change compounded at annual rate from the
original data rather than index numbers. Annual changes: percent change
between annual average levels.
(6) Quarterly manufacturing output measures are based on the .index of
industrial production prepared monthly by the Board of Governors of the
Federal Reserve adjusted by BLS to annual manufacturing output levels
(gross product originating) from the National Income and Product Accounts
prepared by the Bureau of Economic Analysis of the U.S. Department of
Commerce.
(7) Unit nonlabor cost includes capital consumption allowances/
rental income of persons/ and indirect taxes.

interest/

(8) Total unit cost is the sum of labor and nonlabor costs.
(9) Unit profits include corporate profits with inventory valuation and capital
consumption adjustments.