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News Bureau of Labor Statistics Historical, technical information: (202) 523-9261 Current data : (202) 523-1221 Media contact: (202) 523-1913 United States Department of Labor Washington, D.C. 20212 USDL 91-257 Wire embargo until 10:00 AM EDT Wednesday, June 5, 1991 PRODUCTIVITY MID COSTS First Quarter 1991 Business, Nonfarm Business, Manufacturing, and Nonfinancial Corporations The Bureau of Labor Statistics of the U.S. Department of Labor today reported the latest productivity results—as measured by output per hour of all persons—for the first quarter of 1991. As is customary after the U.S. Department of Commerce issues revised information on the Gross National Product, BLS revised its productivity data. Based on information now available, the seasonally-adjusted annual rates of productivity change in the first quarter were: 0.1 percent in the business sector, 0.3 percent in the nonfarm business sector, -1.2 percent in manufacturing, -1.3 percent in durable goods manufacturing, and -0.2 percent in nondurable goods manufacturing. First-quarter measures are summarized in table A and appear in detail in tables 1 through 5. In the business and nonfarm business sectors, both output and hours declined, but productivity increased modestly because hours declined more than output. In manufacturing, the declines in both output and hours were larger, but output fell more than hours so productivity declined. In nonfinancial corporations, productivity fell 0.4 percent in the first quarter, as output and hours fell 6.0 percent and 5.6 percent, respectively (tables B and 6). For business and nonfarm business, the revised productivity measures show smaller increases than had been reported on May 8, based on preliminary information then available (table D). Productivity also declined more sharply in manufacturing than had previously been reported. The revisions mainly reflect changes in measures of output growth during the first 3 months of 1991. Business Productivity increased at a 0.1 percent annual rate during the first quarter of 1991 in the business sector, as output declined 4.5 percent and hours of all persons engaged in the sector fell 4.6 percent (seasonally ' adjusted annual rates). This was the second quarterly decline in output in succession. In the fourth quarter of 1990, business productivity had decreased 1.2 percent, as output fell more rapidly than hours (table 1). Table A. Productivity and costs: First quarter 1991 measures (Seasonally adjusted annual rates) Productivity Sector Output Hours Hourly compensation Real hourly compensation Unit labor costs Percent change from preceding quarter Business 0.1 Nonfarxn business 0.3 -1 .2 Manufacturing -1 .3 Durable -0 .2 Nondurable -4 .5 -4 .6 -10 .9 -13 .6 -6 .4 -4 .6 -4 .9 -9 .9 -12 .4 -6 .2 3 .7 4 .0 3 .5 3 .7 3 .9 0 .2 0.5 0.0 0 .2 0 .3 3,7 3.7 4.8 5.1 4.2 Percent change from same quarter a year ago Business Nonfarm business Manufacturing Durable Nondurable 0.1 0.1 1.5 2.4 0.4 -1.6 -1.7 -3.0 -4.0 -1.5 -1.7 -1.8 -4.4 -6.2 -1.9 4.3 4.4 4.3 4.4 4.4 -1.0 -0.9 -1.0 -0.8 -0.9 4.2 4.3 2.7 2.0 3.9 Hourly compensation increased at a 3.7 percent annual rate during the first quarter of 1991. During the fourth quarter of 1990, it rose 3.5 percent. This measure includes wages and salaries, supplements, employer contributions to employee-benefit plans, and taxes. Unit labor costs, which reflect changes in hourly compensation and productivity, increased at a 3.7 percent annual rate during the first quarter, compared with a 4.8 percent increase one quarter earlier. Real hourly compensation, which takes into account changes in the Consumer Price Index for All Urban Consumers (CPI-U), rose 0.2 percent in the first quarter, compared with a 3.2 percent decrease in the fourth quarter of 1990. The implicit price deflator for business output, which reflects changes in unit labor costs and unit nonlabor payments, increased 4.7 percent in the first quarter, compared with a 2.0 percent rise during the fourth quarter of 1990. Honfarm business Productivity rose 0.3 percent in the nonfarm business sector during the first quarter of 1991, as output fell 4.6 percent and hours of all persons—employees, proprietors, and unpaid family workers—decreased 4.9 percent. During the fourth quarter of 1990, nonfarm productivity had decreased 0.7 percent (table 2). Hourly compensation rose 4.0 percent .in the first quarter, but increased only 0.5 percent when the increase in the CPI-U was taken into account. In the last, half of 1990, real hourly compensation declined in this sector. Unit labor costs increased 3.7 percent, compared with a 4.7 percent rise during the fourth quarter of 1990. The implicit price deflator for nonfarm business output rose 4.6 percent in the first quarter, compared with a 2.5 percent increase one quarter earlier. ; . • •••;'•..y^.;.'^ ••.;-.; ' : . ' • V /; v-/.-;;-;:-.;:. • . ' • ' . •••.-./. -•;•-' • Manufacturing Manufacturing productivity decreased for the second quarter in a row, as declines in output and hours Steepened. Productivity declined 1.2 percent in the first quarter of 1991, reflecting declines in output and hours of 10.9 percent and 9.9 percent, respectively. The drop in manufacturing output was the largest since 1981, when a 12.7 percent decline occurred in the fourth quarter. The drop in hours was the greatest since the first quarter of 1982. During the fourth quarter of last year, productivity fell 1.3 percent as output and hours moved down by 8.1 percent and 6*9 percent, respectively (table 3). Hourly compensation of manufacturing workers increased 3.5 percent during the first quarter, but showed no gain when the increase in consumer prices was taken into account. Real hourly compehsation has grown in only 2 of the past 8 quarters. Unit Jabor costs rose at a 4.8 percent ajtihual rate in the fitst quarter of 19$i; compared with a 6.1 percent increase during the fourth quarter of 1990* Both durable and nondurable goods industries experienced productivity decreases in the first quarter, but the decline was sharper among durable goods producers. . , - . . . - table B. Nonfiriancial corporations: Preliminary first quarter productivity and cost measures (Seasonally adjusted annual rates) " .•-::'•::"•;' . Period - ' Productivity Output •' ;.--... Hours Hourly compensation Real...---.hourly Unit compen- labor sation; costs . ' ,:;;•'_•.. '• Implicit Unit - p r i c e ; profits deflatoi Percent change from preceding quarter 19911 -0.4 -6.0 -5^6 3.9 0.3 4.3 -0.5 5.9 Percent change from preceding year "1991 I 0-2 -2.1 . ;'.;'-2^3 'X- • 4-r ' >cfc&--f^ '• '4.5 •^'^id./Si'ft^'^'^.i:''''' Nonfinancial corporations Preliminary first-quarter 1991 measures of productivity and costs also were announced today for nonfinancial corporations (tables B and 6). Output per all^enipioyee hour declined 0.4 percent from the fourth Barter Of 1990 to the first quarter of 1991, as output and hours decreased 6.0 percent and 5.6 percent, respectively, at annuai rates. In the fourth quarter, productivity had increased 0.4 percent. The sector includes all corporations doing business in the United States/ except banks, stock and commodity brokers, and finance and insurance agencies. Output and hours fell more rapidly than in the more comprehensive business and rionfarm business sectors reported above.. Hourly cpmjpensat ion increased 3.9 percent but rose only 0.3 percent when the ris<s in the CPI-U was taken into acdouht (table 6) . the increase in hourly compensation of employees of the corporations was the same as the gain in the previous quarter, but the increase in real hourly compensation followed 2 quarters of decline. Since the first quarter of 1988, real hourly compensation has increased only during 2 other quarters. Unit labor costs rose 4.3 percent in the first quarter, cotrqpared with a 3.4 percent rise in the fourth quarter of 1990; unit nonlabor costs rose 12.0 percent, and unit profits fell 0.5 percent (their third consecutive decline). The increase in unit nonlabor costs, which include capital consumption allowances, interest, and indirect business taxes, was the largest quarterly increase since the first quarter of 1982, when a 12.4 percent rise occurred, the implicit deflator for nonfinancial .corporate output rose 5.9 percent in the first quarter. Table C. Nonfinancial corporations: Prices, costs, and profits (Index, 1982 * 100) Period Implicit price deflator Total unit costs Unit labor costs Unit nonlabor costs unit profits 1982 1983 1984 1985 1986 100.0 102.3 104 . 8 106.3 106.9 100.0 99.7 100.2 102.2 103.7 100.0 100.1 101.1 103.4 104.8 100.0 98.5 97.8 98.9 101.1 100.0 140.9 172.9 168.3 154.0 1987 1988 1989 1990 109.3 111.4 114.0 117.8 105.2 107.2 111.4 116.3 106.6 108.5 112.5 117.1 101.7 103.8 108.6 114.3 169.6 173.4 153.4 139.5 1990 I II III IV 116.6' 117.5 118.5 119.1 114.3 115.4 117.1 118.6 115.1 116.5 118.0 119.0 112.4 112 . 6 114.8 117.3 142.9 149.1 138.6 127.5 1991 I 120.8 120.4 120.3 120.7 127.3 Table C shows indexes of the implicit price deflator for nonfinancial corporate output and related series from 1982 forward. Changes in prices of the goods and services produced by nonfinancial corporations reflect changes in their costs and profits. Total unit costs consist of labor costs and nonlabor costs per unit of output. The table shows that price increases have reflected increases in both costs and profits. From 1982 to 1990, unit profits rose nearly 40 percent. However, the rise in sector prices (17.8 percent) was little greater than the 16.3 percent increase in total costs, reflecting the greater portion of corporate revenues disbursed as labor and nonlabor costs. Revised measures Previous and revised productivity and cost measures for the first quarter are compared in table D for business, nonfarm business, and manufacturing. Productivity gains were smaller, mainly reflecting greater declines in output than had been previously reported. Appendix table 1 contains annual indexes of productivity and costs for nonfinancial corporations from 1977 forward. This table shows the effect of the introduction of the new quarterly and annual constant-dollar output measures for these years released by the Bureau of Economic Analysis of the U.S. Department of Commerce on May 29. No other sectors were affected. Table D. Previous and revised productivity and related measures, first quarter 1991 (Quarterly percent change at seasonally adjusted annual rate) Productivity Sector Output Hours Hourly compensation Real hourly compensation Unit labor costs Business: Previous Revised 0.7 0.1 -4.0 -4.5 -4,6 -4.6 3.7 3.7 0.2 0.2 3.0 3.7 Nonfarm business: Previous Revised 1,0 0.3 -3.9 -4.6 -4.9 -4.9 4.0 4.0 0.5 0.5 3.0 3.7 -0.9 -1.2 -10.5 -10.9 -9.7 -9.9 3.4 3.5 -0.1 0.0 4.4 4.8 Manufacturing : Previous Revised Next release date The next issue of Productivity and Costs is scheduled for release at 10:00 AM EDT, Tuesday, August 6, 1991, and will contain second-quarter measures for business, nonfarm business, and manufacturing. LABOR MEWS at your fingertips You can now get the text and text tables from this and other U.S. Department of Labor news releases quickly and easily through LABOR NEWS— a free electronic bulletin board available to anyone with a computer, a modem, and communications software. To register directly, load the following communication parameters into your computer: PHONE number: BAUD speed : •\ PARITY : DATA bits : STOP bit : (202) 523-4784 1200 or 2400 none 8 1 After you have made a connection to LABOR NEWS, follow the registration prompts. Users must pay any toll for long-distance calls. For more information, call (202) 523-7343 Mon.-Fri,, 9:00 a.m.-4:00 p.m. (ESX). NOTES Labor Input: The primary source of hours and employment data is the BLS Current Employment Statistics (CES) program, which provides monthly survey data on total employment and average weekly hours of production and nonsupervisory workers in nonagricultural establishments. Jobs rather than persons are counted. Weekly hours are adjusted to the hours at work definition using the BLS Hours at Work survey, conducted for this purpose. Data from the BLS Current Population Survey (CPS) are used for farm labor; in the nonfarm sector, the National Income and Product Accounts (NIPA) prepared by the Bureau' of Economic Analysis of the U.S. Department of Commerce and the CPS are used to measure labor input for government enterprises, proprietors, unpaid family workers, and paid employees of private households. Output: Business sector output is equal to gross national product (GNP) 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 NIPA. Corresponding exclusions are also made in labor inputs. Business output was about 81 percent of GNP in 1989.. Nonfarm business, which also excludes farming, was about 79 percent of GNP in 1989. Total manufacturing measures are computed by summing series prepared for the durable and nondurable goods sectors. Durables include the following 2digit 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. Nondurables include: Textile mill products, apparel products, leather and leather products, printing and publishing, chemicals and chemical products, petroleum products, rubber and plastic products, food, and tobacco products. Manufacturing accounted for about 22 percent of GNP in 1989. Nonfinancial corporate output is equal to GNP 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, unincorporated business, the output of corporations engaged in banking, finance, stock and commodity trading, and credit and insurance agencies, and the statistical discrepancy in computing the NIPA. Nonfinancial corporations accounted for about 60 percent of GNP in 1989. PRODUCTIVITY: These productivity measures describe the relationship between real output and the labor time involved in its production. They show the changes from period to period in the amount of goods and services produced per hour. Although these measures relate output to hours at work 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; managerial skill; and the characteristics and effort of the work force. Table 1. Business sector: Productivity, hourly coinp«n«*t ion, unit labor copt, and price*, »ea»onai;y adjusted ' . - . ' • : •. . .••;•. -;C-^.. :•, ..r'"- ; *C-.v" ; v .- ..•••. . - ; : ,••••• •-•••••^v;- ••/ • Real '• " : .' " .•"• ' . . • •. Unit npn- Implicit year Output per "Output;'" Hour* v eoiflpensa- comp«n»a- Unit and hour 'of of all "-<;:tipn7;j>erx. tioTV per labor labor pay- P*ic« quarter all persons persons hour (X) hour (?) eost ments (3) deflator (4) Indexes 1982^100 111.7 101 v8 125,8 135.5 136.0 121.7 135.3 121.1 1990 I 137,0 111.9 102,2 136.4 121>9 137,0 127.2 1^2,5 II 101,7 136,$ U1.8 1^W.6 U2,l 128.2 123,6 137,8 III IV 111.8 ANNUAL 111,9 1991 .,-'• - - • - • * - • 1990 i ii in IV ANNUAL 1991 ^.':'B^ 1214 i;J9,8 m^T^jj^S^ 100,8 ; i7;,7; ; ; ;" .• ^\-r:..:: . : • • '^<>.-9 vvjf ^ ' •'•'- 4.6 " : " **8 .*•!••. :•.'..'.•' ' •, '' '- ' '•^; .;". J- :•:;:"-:.••. :•- '', . 128,8 136.8 127.5 rl39.0 r!30,3 3.1 4.5 2.4 -3.2 4.6 4.6 3.2 2,0 ;:;:i 23.i J?; 101,7 ^00,9 ,3:.5;: ;;•; -0.7 /;;.;;; >;:^.i:vV^^: J;iJ;4'' •**$,*•••'. : : : :: : : ,;,:;: rOvl'/-:V,- '^ •i-4v$ !' - ">4vf-S;-.:.-;f * -;i --"• ^^^(-'^^:i^' 3,7 4.8 : -1,7 2 3.8 4.3 ;';;;:°' ;:: : ;r .r3,7;r, ; r6.8 r4.7 3.6 2.8 2,9 1*1 3>7 3.8 4,0 3,6 •..]"•;:' 4.3 I-v-':.';'>i7 3.8 H.2 r2,6 r3.6 Percent change from corresj>on<ling quarter of previous year -0,7 : i : j -2.5 ^J.3 -1,3 -1,7 ' ?.8 4> 4f6 4,6 ,; 0,2 .^,- '^iy:f;g 3,6 : " ; : ; :; ;.^i,T',;; . •--*•;•;,;:-r0.i::,:.::--:,^^l^..,;;^^i^-^ •;4:,3 ., . , see footnotes following table 6v r-revised - •' -.; : '• -• . . ..',-:v v ' - - , - • <• =V.V/" '• ••-:'- 136.7 ; rl26v2 Percent change from prey ious quarter at annual rate<5) 1,4 '^'^ffi'?'^':-'u 4.5 -2.7 TO. 9 5.4 4.7 0,6 1,4 6.5 5,4 : 1.2 r iii ' -1.0 -i,2"":";:: ;;':";; 0.3 v,j^*:;£i.:^?:2,:6^:.'... 1.4 "'3,3 inIV ^•0.4 4.2 0,3 g'J 4.5 ?o*i ANNUAL 1991 • rill, * :;: 1990 135.4 : -u* : -;'\ . - ,o;-- • • „-.. r - .= •• ,• ; . ,;. ;:; ..:•• r June 5 f- 1991 Source* Bureau of Labor Statistics Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor seasonally adjusted Real CompensacompensaUnit Output Hours Year Output per tion per tion per labor of all and hour of persons hour (1) hour (2) cost quarter all persons cost/ and prices, Unit nonlabor payments (3) Implicit price deflator (4) Indexes 1982=100 1990 I II III IV ANNUAL I 1991 110.7 110.7 110.9 110.7 136.8 137.2 137.4 136.1 123.7 123.9 123.9 123.0 134.2 135.8 137.4 138.7 101.0 101.3 100.8 100.0 121.3 122.7 123.9 125.3 135.7 137.5 138.3 137.7 125.8 127.3 128.4 129.2 no. s 136.9 123.6 136.6 100.8 123.3 137.3 127.7 r!34.5 121.5 140,1 100.2 r!26.5 r!39.9 r!30.7 rllO.8 Percent change from previous quarter at annual rate (5) I II III IV -1.3 0.3 0.6 -0.7 1.4 1.2 0.4 -3.6 2.8 0.9 -0.2 -2.8 3.9 5.0 4.7 3.9 -3.2 1.0 -2.0 -2.9 5.3 4.7 4.1 4.7 1,0 5.2 2.6 -1.7 3.8 4.8 3.6 2.5 ANNUAL -0.9 0.2 1.0 3.5 -1.8 4.4 2.6 3.8 I rO.3 r-4.6 -4.9 4.0 0.5 r3,7 r6.3 r4.6 1990 1991 Percent change from corresponding quarter of previous year 19$0 -1,3 -0,3 0.3 0.3 0.2 -0.1 1.6 1.4 1.0 0.1 2.4 3.2 4.0 4.4 -2.6 -1.3 -1.5 -1.8 3.7 4.4 4.8 4.7 3,6 2-6 2,6 1,7 3,7 3.8 4.0 3.7 ANNUAL -0,9 0.2 1.0 3.5 -1.8 4.4 2.6 3.8 I rO.l r-1.7 -1.8 4.4 -0.9 r4.3 r3.0 3.9 I 11 Ijl 1991 -oi? footnotes following table 6. ;: '' "'"' June 5, 1991 Source: Bureau of Labor Statistics 10 Table 3. Manufacturing sector: Productivity^ hourly compensation, and unit labor cost, seasonally adjusted ,'x' X.--.- X:".'-x. -;v;: x; -X.:"\/-'V XX-^.^-K,.':.'••"' • .• • ; -..,;:'•":•/ •••. ^.••.'•"••.'. ..." • •'. . •. "'-••'• ,: '•;•-•-= Vx- ; ' . ' • : • - . , ' : " . .•-•;;.• - : : . ;-.x--V--xx: ' . '•'•: xxi 'x--- : ''.: . ':.;—' : : -:>v'*«41 - ^:- -v, -: ; ;putput per Output Hours Cpmpensacompensa- Year and quarter ' • • • • ' • • '. "' v ANNUAL ; ^ '. "^:^-^"-: ';\'^Sy. .:•';•'• .V::.X/: .•" . ' - ' ^ Indexes ^ 1 98 2flOO I35vl 145.9 108,0 129.7 97.6 136.1 147,5 108.3 w: 131..2 97.8 : 137v9 :,.:Vv;.rXi48;.^::-: ^Ht^: a07v;9-,-^ ;;v:':-a32:-5^--';-;^yv:; : ;:: : ; 97.2 ' • .-V I S'£i oifll : : ••;• ;-;^- >^--"v:;, -;V;X X " ' 'S • '. .'•••• '..' ' ''•';.,'.• ; 1990 of all persons --" -. ' ,- r:-"V ; ?;:^^37:iC\;:\'^i*5iy -;:^fei^' *P*^'^ W^^^34^' ^x:;?;:' - --v ".-»6.7. • -- : ; • ;;;;.;;;.•;.;;;;; ;:;';i3.6;,;8;;;;;-' ^^:;,;;:;:;::;;; ;ri^ -' - • -- r98.6 0'.8', : ;• -2.5 1.6 -1.3 6vl Percent change from vpreArious^^^^ "-' .'..'•• ' . ' . ' - • • ' ,' ' ' v. '•' • •• ':•''; •'."•'".: ' ' •:' ' '•.'• • " • ' • '• 1990 • I ' • ' • ' • ; . ' . . ; ' : • ':;•'• '"."'.:. '-3'* 1". . • . • . • ;• X!'--. . ; .; ' • ' • -4 ».3,- •. . ; r - .^-'v- 1 '•••:• v-'J->'2 ;'.'••• . . ' " • . • • .X..- •: ^* ? . • • III . • "•' . '••:.,--''XIVX, •;•. • ' ' : :: ANNUAL 1991 '• • ' -'::- - : • : ' • • • ' • • '1. ••• . • ' . ' . : ' . . . . ''• . • • • • . • • . ' . - '•• '•"•:'''•.•'•'.. '•.:'••'-"' •, •'•' •'•. '• ••'• •'• •'• '••' .• ' ',: ' :i:' \. .• •••••"••..-:•• • .-. .'. ' . . - . ' - - . ' • '•' '.'•'.•'•'"•'. ' : • :•. ' ' •' :' .'•";•:' . • ' • • • • • • -.. : ...'. ' : ; " ] . - - ' "••'" ; ; : •• ' ' : . ; ' ' Xv-x'".'x-..!' '••.*••••.•': . • ' • • • •..' • .' • ••. U: ;:.x. • " : . ; • • : .-.-•'.. X.xX'"-.- "'. •-.-..-•• ;••.'.''••'" ' - ' ' • • • ; • ' " • : •."• ."•'•. • ".• ••. - - •'•••• •* . • • ;;'.'-;; : ' • ; . : ::/T ; ;^ • • • . . • . , ' v -" r > ' • • " • • • • ' • ' " • •. > x.':;.-^Xr' ; -' i .'-- ; ' ' • " ' • • • ' • ' : ' : • : • . . • • • •• i > ' ' l - v - ^ . - : . • X'X • • • • • ' • • • • • ' : : ; '-''.."^. - . • ' " • - • -'^'' •' : ;..'• • • '.•.•• : I - " ' . . . . ', '";::: :: : - . 0.7 : ^ • .-. • '••' i' ^ : Percent change from corresponding ^quarter of preyipus year •' ' •' ; • ' . • • • • i : = : '..r : '- ••.••-: /"' .; ' •' • . '•' ' ;;; : ' ' • ; • ' • ' .•••.". : - •''- -''•'•' .•'" '^ '-•'''••/•-'.: ; - ••:':•": -v.-':.',' •••-•" : ; :•••''.•-: •••'.'••'• ..- ; ; •••' • .' '•. .:-.•••. • ' ; "..••• : .'- ; ^•'•'-. •".'''•- '•• • • ' • ' • . • ' ••"..•• 1.0 1.4 -0.4 0.9 . • • • • ' . - . . ANNUAL 1991 :,•.••.,-• ; 'I,x ^l!:l"-i^ ...... .' "•' V ; ; »' : - ' ' ' • "-«.» " ' • • " • ' • / - : ' ' ' - : : ' X-- ":'. '-. : -"-' ..'.•"••.• See footnotes following table 6 : r4.8 X ' 1990 I •. ...,.^ ' :xxxX:V:ii;x'- : : III - ,:' .••.' : ' . . • • • iv .•••••• 96,0 96.4 96.1 97.5 96.5 : ;=;l?9i:::^:\7;Si;:;;4 ; Unit labor cost '•"' '" "''•''" ' -••'• •" ' • • " , , • ' . -.- — •- \ - : '.. ..-''-•-':, ':'^ ..- • . :••.•'. ^^^^ _ ' . 0.7 2.7 — June 5y 1991 Source: Bureau b f Labor Statistics 11 Table 4, Durable manufacturing sector: Productivity; hourly compensation, and unJit labor cost, seasonally adjusted year and quarter Output per hour of all persons Output Hours CompensaT Heal compensa- of. all t ion per t ion..per persons hour (1) hour (2) Unit labor cost Indexes 1982*1QO 1990 I II III JV ANNUAL 1991 I 147.2 149.6 152.3 15}. 2 159,7 162-6 164.3 159.1 150.3 161,4 108,5 108.7 107.9 }Q5,2 107,4 r!50.7 r!53,4 rlOl-8 128.1 129,5 131.0 132,6 W-4 96.6 96.1 95.6 87,0 86.5 86.0 87.7 130,4 r!33.8 96.3 86.8 r$5>7 r88.8 -5,5 0,5 -2,1 -1.8 -3.1 -2.0 -2,7 8.1 Percent change from previous quarter at annual rate (5) 1990 I II III IV 4,8 6.$ 7.5 -2.9 1.6 7,3 4.3 -12,1 -.3.1 0.7 -9!s 1,5 4,4 4.6 5.0 ANNUAL 3.3 0,3 -2.9 3.2 -2,1 -0.1 I r-1.3 r-l3,6 r-12,4 >'7 rO.2 r5.1 -2.9 -1.5 -2.3 -2.2 0.2 0.7 -1.4 0.0 -2-1 -0.1 1991 percent change from corresponding quarter of previous year 1990 I II III IV 2.0 2,3 4,5 3.9 -1.2 0,3 2,0 Q«0 -3,1 -.2.0 -2.4 -3.8 2.2 3,0 3.1 3,9 ANNUAL 3.3 Of3 -2.9 3 1991 I r2.4 See footnotes following table 6. r~4.0 r-6,2 ^? • :: 4,4 '• v:;-' ; ;•;••' r2.Q 5, 1991 Source: Bureau of Labor Statistics 12 Table 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) Unit labor =cost Indexes 1982-100 1990 1991 I II .III IV 118.8 118.1 118.7 119.4 127.6 127.4 128.0 127.8 107.4 107.9 107.9 107.0 132.2 134.0 135.1 136.7 99.6 99.9 99.1 98.6 111.3 113.5 113.8 114.5 ANNUAL 118.9 127.7 107.4 134.6 99.4 113.3 I 119.3 r!25.7 105.3 138.0 98.7 115.7 Percent change from previous quarter at mnual rate (5) I II III IV 5.2 -2.4 2.2 2.3 2.3 -0.6 2.1 -0.9 -2.7 1.8 0.0 -3.1 3.6 5.4 3.3 4,9 -3.5 1.4 -3.3 -1.9 -1.5 8.0 1.1 2.6 ANNUAL 1.7 0.6 -1.0 3.9 -1.5 2.2 1991 I "-0.2 r-6.4 -6.2 3.9 0.3 r4.2 1990 I II III IV 0.6 1.0 2.7 1.8 0.0 0.2 1.6 0.7 -0.7 -0.8 -1.1 -1.0 2.9 3.7 3.9 4.3 -2.2 -0.8 -1.5 -1.9 2.2 2.7 1.2 2.5 ANNUAL 1.7 0.6 -i.fr" 3.9 -1.5 2.2 I 0-4 -1.5 -1.9 4.4 -0.9 r3.9 1990 Percent change 1991 see footnotes following table 6. r-revised from corresponding quarter of previous year June 5/1991 Source: Bureau of Labor Statistics 13 Table 6. Nonfinaneial corporations:.Productivity, hourly compensation, unit labor cost, unit profits, and prices, seasonally adjusted Output Year per alland quarter employee Output hour Employee Hourly Real hours compensa- hourly tion compen(1) sation(2) Unit labor cost Unit nonlabor cost (7) Total unit cost (8) Unit Implicit proprice fits deflator (9) (4) Indexes 1982=100 m IV rl!3.7 rl!4.2 rl!3.9 rl!4.0 r!40.5 r!41.4 r!41.1 r!39.6 123.5 123.8 123.9 122.5 130.9 133.0 134,4 135.7 98.5 99.2 98.6 97.9 r 115.1 rll6.5 rllS.O rll9.0 rU2.4 rl!2.6 rl!4.8 rl!7.3 rl!4.3 rl!5.4 rl!7.1 rll8.6 rl42.9 r!49.1 r!38.6 r!27.5 rll6.1 rl!7.5 rll8.5 r!19.1 ANNUAL rU4.1 r!40.6 123.3 133.6 98.6 rl!7.1 rl!4.3 rl!6.3 r!39.5 rl!7.8 I 113.9 137.5 120.7 137.0 98.0 120.3 120.7 120.4 127.3 120.8 I II 1990 1991 Percent change from previous quarter at annual rate (5) I II III IV -1.5 rl,6 -1.0 0.4 rO.3 r2.5 -0.8 -4.1 1.8 0.9 , 0.2 -4.5 ANNUAL r-0.7 rO.l 1991 I -0.4 -6.0 1990 I II III IV r-0.8 r-0,6 -1.3 -0.1 rO.7 rO.8 r-0.3 r-0.6 1.5 1.3 1.0 -0.4 2.0 3.2 3.9 4.4 -3.0 -1.3 -1.5 -1.7 r2.9 r3.8 5.3 4.5 ANNUAL r-0.7 rO.l 0.9 3.3 -2.0 I 0.2 -2.1 -2.3 4.7 -0.6 1990 2.8 6.6 4.4 9 -4.3 2.6 -2.3 -2.9 r4.3 r4.9 5.5 3.4 3.3 rO.5 8.3 9.1 r4.0 r3.7 6.3 5.0 rl.l r!8.6 -25.3 -28.4 r3.8 r4.8 3.4 2.2 0.9 3.3 -2.0 r4.1 r5.3 r4.4 r-9.0 r3.3 -5.6 3.9 0.3 4.3 12.0 6.4 -0.5 5.9 r6.6 r4.7 4.6 5.2 r3.9 r4.0 5.1 4.7 r-9.8 r-5.9 -10.2 r-10.5 r2.7 r3.2 3.8 3.5 r4.1 r5 .3 r4.4 r-9.0 r3.3 4.5 7.4 5.3 -10.9 4.1 4- Percent change from corresponding quarter of previous year 1991 See footnotes following table 6. r-revised June 5, 1991 Source: Bureau of Labor Statistics 14 SOURCE: Output data from the 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. The measures are first published 30 days after the close of the reference period; revisions appear 30 days later, and third revisions after an additional 60 days. In the business sector, the probability is 0.95 that the third publication (third revision) of a quarterly index of output per hour of all persons will differ from the initial value by between -1.8 and +2.1 index points. This interval is based on the performance of this measure between the second quarter of 1976 and the third quarter of 1989. Footnotes, Tables 1-6 (1) Wages and salaries of employees plus employers1 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 selfemployed, (2) Compensation per hour adjusted for changes in the Consumer Price Index for All Urban Consumers. (3) Unit nonlabor payments include profits, capital consumption allowances, interest, rental income of persons, and 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 bet/ween 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, interest, rental income of persons, and indirect taxes. For nonfinancial corporations, rental income of persons is zero by definition. (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. Jkppendix table I. Nonfin*nci*l corporations* Productivity, hourly compensation, unit labor cost, unit profit,*, and prices 1Employe Hourly Output i** WX«ar «mploy«« hour Output Total unit cost (8) Unit l^o* cost Unit non^ labor cost (7) 103,2 104.1 10?. 4 65,2 70,4 56.8 60,2 65.7 62,9 67,6 74.1 127.8 130,5 120.? 66.9 71.5 77.0 99.8 98,9 100,0 100.0 99,4 86,3 93.5 100.0 77.7 90,2 100.0 98.5 97.8 83.9 92.6 100.0 99,7 100.2 108.8 125,1 100.0 140.9 172,9 85.4 94.6 100.0 102,3 104.8 99.9 102.7 102,2 102.1 I00,fi 103,4 404,8 106.6 108,5 112.5 98,9 101,1 101.7 108,6 102.2 103.7 105,2 107,2 111.4 168.3 154.0 169.6 173.4 153,4 106.3 106,9 109.3 111.4 114.0 98,6 U^-1 114.3 116.3 139.5 117.8 R**i hours, icompensa- hourly tion componia* tion(2) <1> Unit pro* fits (9) Implicit price deflator (4) jndexe i 1982-100 1977 S97f 1979 1980 *981 1982 1983 1984 1999 1*86 1987 IMS 1989 1910 99,3 99,8 99.6 94,4 10C.O *,>3,2 64*8 85,2 70.3 77.1 98.8 99*6 100, Q 103.0 105.8 103, ,2 103.1 100,0 105.0 115,0 103M 103.3 100,0 101,9 108,7 93,2 100,0 103.2 107,6 119. C 124,2 129.7 137,1 MO, 4 111.2 111.6 114.8 118. 8 U2.2 111,3 116,6 120.4 140,6 123,3 Ul-3 112.9 1U. 4 114.9 114.1 footnotes following ta>l« $5.0 100.1 103,7 107,0 1251 2 129.3 133f 6 77.4 100,1 101,1 103,* June 5, 1991 Source; Bureau of Labor Statistics
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