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News
Bureau of Labor Statistics
United States
Department
of Labor
Washington, D.C. 20212
Historical, technical
information:
(202) 606-5606 (NEW Number)
Current data : (202) 606-7828 (NEW Number)
Media contact: (202) 523-1913
USDL 92-355
TRANSMISSION OF MATERIAL IN
THIS RELEASE IS EMBARGOED
UNTIL 10:00 A.M. EDT
WEDNESDAY, JUNE 17, 1992
PRODUCTIVITY AND COSTS
First Quarter 1992
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 1992. Based on information now
available, the seasonally-adjusted annual rates of productivity change in the
first quarter were:
2.8 percent in the business sector,
2.7 percent in the nonfarm business sector,
-1.0 percent in manufacturing,
-3.0 percent in durable goods manufacturing, and
1.8 percent in nondurable goods manufacturing.
In the business and nonfarm business sectors, output grew while hours
declined, and productivity increased at the fastest rate since the second
quarter of 1990. In manufacturing, a productivity decline in durable goods
resulted in a fall in the sector as a whole. Output in all of manufacturing
fell 2.3 percent while hours decreased at a 1.3 percent annual rate. Declines
in unit labor costs in all sectors partly reflected slower growth in hourly
compensation. First-quarter measures are summarized in table A and appear in
detail in tables 1 through 6.
In nonfinancial corporations, productivity rose 2.8 percent in the first
quarter, as output rose 2.7 percent and hours fell 0.2 percent (tables B and
6) .
For business, nonfarm business, and manufacturing, the revised fourthquarter-1991 productivity measures show smaller increases than had been
reported on March 10, based on p^elimiiiary information then available (tableD). The revisions reflect changes in measures of both output and hours during
the last 3 months of 1991.
The labor input measures in this news release have been
adjusted to reflect annual benchmark revisions and updated
seasonal adjustment factors. See the note on page 5.
-2-
Table A. Productivity and costs: First-quarter-1992 measures
(Seasonally adjusted annual rates)
Sector
Productivity
Output
Hours
Hourly
compensation
Real
hourly
compensation
Unit
labor
costs
Percent change from preceding quarter
Business
2.8
Nonfarm business 2.7
Manufacturing -1 . 0
Durable
-3 . 0
Nondurable
1.8
1.1
1.2
-2,3
»3.8
-0.2
-1.6
-1.5
-1.3
-0.8
-2.0
2.4
2.2
-1.9
-4.3
1.7
-0.4
-0.6
-4.6
-6.9
-1.1
-0.4
-0.5
-1.0
-1.3
»0.1
Percent change from same quarter a year ago
Business
Nonfarm business
Manufacturing
Durable
Nondurable
2 .1
1.9
2.4
1. 8
3. 1
1.3
1.2
1.7
0.5
3.4
-0.8
-0.7
-0.6
-1.3
0.3
3.3
3.2
2.6
2.6
2.6
0.4
0.3
-0.3
-0.2
-0.3
1.2
1.2
0.2
0.8
-0.5
Business
Productivity increased at a 2.8 percent annual rate during the first
quarter of 1992 in the business sector, as output increased 1.1 percent and
hours of all persons engaged in the sector fell 1.6 percent (seasonally adjusted annual rates). It was the largest gain in productivity since the
second quarter of 1990 (when a 3.0 percent rise occurred) and the eighth
quarterly decline in hours in succession. In the fourth quarter of 1991,
business productivity had increased 1.8 percent, as output rose somewhat while
hours fell (table 1).
Hourly compensation increased at a 2.4 percent annual rate during the
first quarter of 1992, following a 2.7 percent rise in the fourth quarter of
1991. 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, decreased at a 0.4
percent annual rate during the first quarter, compared with a 0.9 percent
increase one quarter earlier. This was the first decline in unit labor costs
since the first quarter of 1988 (when they declined 0.2 percent) and the
biggest drop since the second quarter of 1987 (when they fell 2.0 percent).
Real hourly compensation, which takes into account changes in the
Consumer Price Index for All Urban Consumers (CPI-U), fell 0.4 percent in the
first quarter, compared with a 0.9 percent decrease in the fourth quarter of
1991.
-3-
The implicit price deflator for business output/ which reflects changes
in unit labor costs and unit nonlabor payments, increased 2*5 percent in the
first quarter, compared with a 1.0 percent rise during the fourth quarter of
1991.
Nonfarm business
Productivity rose 2.7 percent in the nonfarm business sector during the
first quarter of 1992, as output rose 1.2 percent and hours of all persons—
employees, proprietors, and unpaid family workers-^decreased 1.5 percent. As
in the more comprehensive business sector, the increase in nonfarm
productivity was the greatest since the second quarter of 1990 (when a 2.7
percent gain occurred) and the decline in hours was the eighth in succession.
During the fourth quarter of 1991, productivity had increased 1.3 percent
(table 2).
Hourly compensation rose 2,2 percent in the first quarter, but decreased
0.6 percent when the increase in the CPI-U was taken into account. Real
hourly compensation has declined in both the business and nonfarm business
sectors for two consecutive quarters. Unit labor costs decreased 0.5 percent,
compared with a 0.9 percent rise during the fourth quarter of 1991. This was
the first decline in unit labor costs since the second quarter of 1987, when a
2.2 percent decline was recorded.
The implicit price deflator for nonfarm business output rose 2.4 percent
in the first quarter, compared with a 1.5 percent increase one quarter
earlier.
Manufacturing
Manufacturing productivity decreased for the first time in a year, as
declines occurred in both output and hours. Productivity declined 1.0 percent
in the first quarter of 1992, reflecting declines in output and hours of 2.3
percent and 1.3 percent, respectively. During the fourth quarter of last
year, productivity rose 0.9 percent as output rose 0.2 percent and hours moved
down by 0.7 percent (table 3).
Hourly compensation of manufacturing workers decreased 1.9 percent
during the first quarter, but dropped 4.6 percent when the increase in
consumer prices was taken into account. This was the first decline in hourly
compensation outlays since 1987 (when they fell 1.1 percent in the second
quarter) , and the decline in real hourly compensation was the largest since
the 5.7 percent decline in the second quarter of 1989. Unit labor costs fell
at a 1.0 percent annual rate in the first quarter of 1992, compared with a 3.1
percent increase during the fourth quarter of 1991.
-4-
Table B. Nonfinancial corporations: First-quarter-1992 productivity and
cost measures
(Seasonally adjusted annual rates)
Period
Productivity Output
Hours
Hourly
compensation
Real
hourly
compensation
Unit
labor
costs
Unit
profits
Implicit
price
deflator
1992 I
2.8
Percent change from preceding quarter
2.7
-0.2
1.6
-1.2
-1.2
43.7
0.7
1992 I
3.0
Percent change from same quarter a year ago
2.5
-0.5
3.1
0.2
0.1
18.5
0.9
Only durable goods industries experienced a productivity decrease in the
first quarter, but the decline more than offset a 1.8 percent productivity
gain among nondurable goods producers. Nondurable goods account for about 43
percent of manufacturing.
$|pnfinancial corporations
^ Preliminary^first-quarter-1992 measures of productivity and costs also
were announced today for nonfinancial corporations (tables B and 6). Output
per all-employee hour matched the productivity gain reported in the business
sector as a whole, increasing 2.8 percent from the fourth quarter of 1991 to
the first quarter of 1992. Output rose 2.7 percent and hours of all employees
decreased 0.2 percent, at annual rates. The decline in hours was the eighth
quarterly decrease in a row. In the fourth quarter, productivity had
increased 3.5 percent. The sector includes all corporations doing business in
the United States, except banks, stock and commodity brokers, and finance and
insurance agencies.
Hourly compensation increased 1.6 percent, but fell 1.2 percent when the
rise in the CPI-U was taken into account (table 6). The increase in hourly
compensation was the smallest rise since the second quarter of 1989, when a
1.2 percent increase occurred. The decrease in real hourly compensation was
the second in a row.
Unit labor costs for nonfinancial corporations declined 1.2 percent in
the first quarter, compared with a 0.8 percent drop in the fourth quarter of
1991; this was the first time urit labor costs had declined for two
consecutive quarters since in the second half of 1960. Unit nonlabor costs
fell 4.1 percent (their second decline in a row and the largest drop since a
4.6 percent decline in the third quarter of 1985), and unit profits shot up
43.7 percent (their second consecutive increase and the largest gain since the
second quarter of 1987, when they rose 45.6 percent). The implicit deflator
for nonfinancial corporate output edged up 0.7 percent in the first quarter.
Table C. Nonfinancial corporations: Prices, costs, and profits
(Indexes, 1982-100)
Period
Implicit
price
deflator
Total
unit
costs
Unit
labor
costs
Unit
nonlabor
costs
Unit
profits
1982
1983
1984
1985
1986
100.0
101.8
105.3
107.7
108.6
100.0
99.5
101.1
103.7
105.9
100.0
99.6
102.2
105.2
107.2
100.0
99.2
98.6
99.9
102.6
100.0
135.9
168.4
168.0
149.7
1987
1988
1989
1990
1991
111.0
114.3
119.0
122.9
126.0
107.0
109.7
115.5
121.3
125.2
108,7
111.0
116.9
122.9
125.9
102.6
106.7
111.9
117.1
123.7
172.4
183.7
172.6
148.2
136.9
125.3
126.0
126.3
126.3
124.9
125.2
125.6
125.2
125.4
125.9
126.2
125.9
123.7
123.4
124.1
123.6
130.9
138.2
136.7
141.7
126.5
124.6
125.5
122.3
155.1
1991 I
II
III
IV
1992 I
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 1991, unit
profits rose 36.9 percent, compared with a 25,2 percent increase in costs.
However, the rise in sector prices (26.0 percent) was little greater than the
increase in total costs, reflecting the greater proportion of corporate
revenues disbursed to labor and nonlabor inputs,
Revised measures
Previous and revised productivity and cost measures for the fourth
quarter and year 1991 are compared in table D for business, nonfarm business,
and manufacturing. Fourth quarter productivity gains were smaller than
previously reported reflecting smaller gains in output and smaller declines in
hours. In contrast, revised data show larger productivity gains for the year
as a whole in the business and nonfarm business sectors, and little change in
manufacturing.
Labor input measures have been revised to reflect the benchmarking of
employment levels derived from the monthly BLS Current Employment Statistics
Program survey to more comprehensive counts from unemployment insurance
records, and the updating of seasonal adjustment factors for these measures.
These changes were announced by the BLS on June 5 (USDL 92-337). Seasonally
-6-
Table D. Previous and current productivity and related measures
Fourth-quarter and annual averages, 1991
(Seasonally adjusted annual rates)
Productivity
Sector
Output
Percent change,
Business :
2 .2
Previous
1 .8
Current
Nonfarm business:
1 .7
Previous
1 .3
Current
Manufacturing :
1 .4
Previous
0 .9
Current
Hours
Hourly
compensation
Real
hourly
compensation
Unit
labor
costs
third to fourth quarter 1991
0 .8
0 .5
-1.5
-1.2
3 .2
2 .7
-0 .4
-0 .9
0 .9
0 .6
0 .4
-1.1
-0.9
2 .7
2 .2
-0 .9
-1 .3
0 .9
0 .9
0 .6
0 .2
-0.8
-0.7
4 .5
4 .0
0 .9
0 .4
3 .1
3 .1
0 .9
Percent change , 1990 - 1991
Business :
Previous
Current
Nonfarm business:
Previous
Current
Manufacturing :
Previous
Current
0 .2
0 .7
-1 .5
-1.7
-2,2
3 .9
4 .4
-0 .3
0 .2
3 .7
3 .8
0 .3
0 .7
-1 .6
-1 .6
-1.8
-2.3
4 .0
4 .5
-0 .2
0 .3
3 .7
3 .8
1 .4
1.3
-2 .3
-2 .3
-3.7
-3.6
4 .2
4 .1
0 .0
-0 .1
2 .7
2 .8
-1 .5
adjusted measures from 1987 forward are affected,
through 6.
See appendix tables 1
Future Changes in Output Measurement Procedures
The primary source for the output measures used to compute productivity
and costs is the National Income and Product Accounts of the Bureau of
Economic Analysis <BEA) of the U.S. Department of Commerce. Traditionally,
the BEA has presented real output aggregated from components using the fixed
price weights of a single year. These fixed-weighted real output series have
several advantages: they are easy to compute and understand and the components
of real output are additive.
In the April 1992 issue of the Survey of Current Business (SCB), the BEA
published two "alternative" measures of annual real gross domestic product
(GDP) : One using "chain-type annual weighted quantity index" numbers and a
second using "benchmark-years-weighted quantity index" numbers. The BEA
decided to begin presenting alternatives because changes in the prices and
quantities of energy, food, and computers "have been large enough in certain
periods to make the measurement of the change in real GDP sensitive to the
choice of price weights." The alternative measures do not involve an
arbitrary choice of a single base year. Tables in the SCB article
("Alternative Measures of Change in Real Output and Prices," by Allan H.
-7-
Young) present trends in the alternative measures of real GDP. These trends
vary from the traditionally measured trends, over various time periods, by 0.1
to 0.3 percentage-point per year. It is notable that in manufacturing, where
computers are made, preliminary estimates indicate that differences in the
trends can be as much as one percent or more.
The alternative versions (the two alternatives differ little,
empirically) may be more appropriate for productivity measurement because the
index number formulae, on which they are based, have certain desirable
properties which are discussed in the literature on production theory. The
BLS is presently studying these new BEA alternative measures and will consider
introducing them, after additional detailed series are prepared by the BEA, in
future computations of productivity and costs.
Next release date
The next issue of Productivity and Costs is scheduled for release at
10:00 AM EDT, Tuesday, August 11, 1992, and will contain second-quarter
measures for business, nonfarm business, and manufacturing.
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-8TECHNICAL NOTES
Information in this release will be made available to sensory-impaired
individuals upon request. Voice phone: 202-606-7828; TDD phone: 202-606-5897;
TDD message referral phone number: 1-800-326-2577.
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 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 domestic product (GDP) in
constant 1987 dollars, less 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 78 percent of GDP in 1991. Nonfarm business, which also
excludes farming, was about 77 percent of GDP in 1991.
Total manufacturing measures are computed by summing series prepared fox
the durable and nondurable goods sectors. Durables include the following 2digit SIC industries: Primary metals; fabricated metal products; industrial
machinery and equipment; electronic and other electric equipment/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, paper and
allied 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 19
percent of GDP in 1991.
Nonfinancial corporate output is equal to GDP in constant 1987 dollars,
less 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 55 percent of GDP in 1991.
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.
-9-
Table 1. Business sector: Productivity, hourly compensation, unit labor cost,
and prices/ seasonally adjusted
Real
CompensaHours
compensaUnit
Year
Output per
tion per
of all
tion per
labor
and
hour of
persons
hour <1)
quarter
all persons Output
hour (2)
costs
Unit nonlabor payments (3)
Implicit
price
deflator (4)
Indexes 1982«100
1991
I
II
III
r!09.9
rllO.5
rlll.O
rill. 5
130.2
130.7
131.3
rl31.5
rl!8.5
rl!8.4
rl!8.3
rll8.0
r!44.0
r!45.7
r!47.0
r!48.0
r!03.0
r!03.6
r!03.8
r!03.6
131.0
r!31.9
r!32.5
r!32.8
r!40.0
r!41.1
r!41.9
r!42.3
134.0
135.0
135.6
135.9
ANNUAL
rllO.7
r!30.9
rll8.3
r!46.1
r!03.5
r!32.0
r!41.3
135.1
I
112.2
131.9
117.5
148.9
103.5
132.6
145.1
136.7
4.5
2.9
1.8
IV
1992
Percent change from previous quarter at annual rate (5)
1991
1992
r2.7
r4.8
r3.5
r2.7
r-0.5
r2.3
rO.8
r-0.9
r2.9
r2.7
rO.5
r-4.8
r-0.4
r-0.1
r-1.2
1.6
0.9
r7.5
r3.3
r2.1
rl.l
rl.O
rO.7
-1.5
r-2.2
r4.4
rO.2
r3.8
r2.4
3.3
2.8
1.1
-1.6
2.4
-0.4
-0.4
8.2
2.5
4.0
r2.5
I
II
III
IV
-0.1
r2.0
rl.9
rl.8
-4,9
ANNUAL
I
1.7
1.8
Percent change from corresponding quarter of previous year
1991
1992
5.4
4.6
3.0
I
II
III
IV
rO.4
rO.l
rO.8
rl.4
-2.3
-2.3
-1.2
r-0.3
r-2.6
r-2.5
r-2.0
r-1.6
r5.8
r4.8
r3.9
r3.4
rO.5
r-0.1
rO.l
rO.4
r2.0
rl.3
rl.8
r2.9
r3.5
ANNUAL
rO.7
-1.5
r-2.2
r4.4
rO.2
r3.8
r2.4
3.3
I
2.1
1.3
-0.8
3,3
0.4
1.2
3.6
2.0
See footnotes following table 6.
r=-revised
3.6
3.0
June 17, 1992
Source: Bureau of Labor Statistics
-10-
Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor
and prices, seasonally adjusted
Real
Hours
CompensaYear
Output per
compensaUnit
of all
and
hour of
tion per
tion per
labor
persons
hour (1)
quarter
all persons Output
hour (2)
costs
cost,
Unit nonlabor payments (3)
Implicit
price
deflator(4)
Indexes 1982=100
1991
1992
I
II
III
IV
rl08.4
r!09.0
r!09.4
r!09.8
130.4
130.9
131.4
r!31.5
r!20.2
r!20.1
r!20.1
rl!9.8
r!42.8
r!44.5
r!45.7
r!46.5
r!02.1
r!02.7
r!02.9
r!02.6
r!31.7
r!32.6
r!33.2
r!33.5
r!41.6
r!42.2
r!43.X
rl44,l
134.9
135.7
136.4
r!36.9
ANNUAL
r!09.1
r!31.0
r!20.1
r!44.8
r!02.6
r!32.7
r!42.7
136.0
I
110.5
131.9
119.4
147.3
102.4
133.3
146.9
137.7
Percent change from previous quarter at annual rate (5)
1991
1992
I
II
III
IV
rO.O
r2.0
rl.7
rl.3
-4.9
1,6
1.6
rO.4
-4.9
r-0.4
r-0.1
r-0.9
r2.9
r4.9
r3.5
r2.2
r-0.3
r2.3
rO.8
r-1.3
r2.8
r2.8
rl.7
0.9
r8.6
rl.8
2.7
r2.6
4.8
2.5
2.1
rl.5
ANNUAL
rO.7
-1.6
r-2.3
r4.5
rO.3
r3.8
r3.0
3.5
I
2.7
1.2
-1.5
2.2
-0.6
-0.5
8.1
2,4
Percent change from corresponding quarter of previous year
1991
1992
I
II
III
IV
rO.4
rO.2
rl.O
rl.3
-2,3
-2.4
-1.2
r-0.4
r-2.7
r-2.6
r-2.2
r-1.6
r5.9
r4.9
r4.0
r3.3
rO.6
rO.O
rO.2
rO.3
r5.5
4.6
r3.0
r2.1
r2,3
r2.4
r3.5
r3.9
4.4
3.9
3.2
2.7
ANNUAL
rO.7
-1.6
r-2.3
r4.5
rO.3
r3.8
r3.0
3.5
3.2
0.3
1.2
3.8
2.1
I
1.9
1.2
See footnotes following table 6.
r=revised
V
-0. 7
June 17, 1992
Source: Bureau of Labor $tatistics
-11Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor cost,
seasonally adjusted
Real
Hours
CompensacompensaOutput per
Year
Output
of all
tion per
tion per
hour of
and
(6)
persons
hour (1)
hour (2)
all persons
quarter
Unit
labor
costs
Indexes 1982=100
1991
I
II
III
IV
r!25.6
r!26.8
rl28.6
r!28.9
130.3
131.0
133.2
r!33.3
rl03.7
r!03.3
r!03.6
r!03.4
r!37.8
r!39.3
r!40.7
r!42.1
r98.6
r99.1
r99.4
r99.5
r!09.8
109.9
109.4
110.2
ANNUAL
r!27.4
r!31.9
r!03.6
r!39.9
r99.1
109.8
I
128.6
132.5
103.1
141.4
98.3
110.0
1992
Percent change from previous quarter at annual rate (5)
1991
I
II
III
IV
r-3.8
r3.9
r5.9
rO.9
-10.5
2.2
7.1
rO.2
r-7.0
r-1.6
rl.2
r-0.7
rl.6
r4.5
r3.9
r4.0
r-1.6
rl.9
rl.2
rO.4
r5.6
rO.5
r-1.9
3.1
ANNUAL
rl.3
-2.3
r-3.6
r4.1
r-0.1
r2.8
I
-1.0
-2.3
-1.3
-1.9
-4.6
-1.0
1992
Percent change from corresponding quarter of previous year
I
II
III
IV
1.5
rl.S
rl.l
rl.7
-2.9
-3.3
-2.5
r-0.5
r-4.3
r-4.7
r-3.5
r-2.1
5.2
r4.4
r3,9
r3.5
-0.1
r-0.5
rO.l
rO.5
r3.7
r2.8
2.8
rl.8
ANNUAL
rl.3
-2.3
r-3.6
r4.1
r-0.1
r2.8
I
2.4
1.7
-0.6
2.6
-0.3
0.2
1991
1992
See footnotes following table 6.
r=*revised
June 17, 1992
Source: Bureau of Labor Statistics
-12-
Table 4. Durable manufacturing
seasonally adjusted
Year
and
quarter
sector: Productivity, hourly compensation, and unit labor cost,
Output per
hour of
all persons
Output
(6)
Hours
of all
persons
Compensation per
hour (1)
Real
compensation per
hour (2)
Unit
labor
costs
Indexes 1982-100
I
II
III
IV
r!34 .9
r!36 .1
101 .5
100 .9
r!35 .7
r!37 .4
r!39.0
r!40 .8
r97 .1
r97 .7
r98 .2
r98 .6
rlOO.6
100.9
100.6
rl01.7
138.9
rlOl .5
r!38 .1
r97 .9
101.0
138.3
100 .7
139 .3
96 .8
101.4
r!02.0
rlOl .6
138 .1
138 -4
137.6
138.3
140.2
139.7
ANNUAL
r!36.8
I
137 .4
1991
1992
Percent change from previous quarter at annual rate (5)
I
II
III
IV
r-4.9
-13.3
r-8.9
rO.9
r3 .7
r5 .9
rO .9
2.2
5.5
-1.5
r-1 .5
r-0 .4
r-2 .4
r5 .1
r4 .8
r5 .2
r-2 .2
r2 .5
r2 .1
rl .6
r6.1
rl.3
r-1.0
r4.3
ANNUAL
rl .1
-4.0
r-5 .0
r4 ,3
rO .1
3.2
I
-3 .0
-3.8
-0 .8
-4 .3
-6 .9
-1.3
r-0 .1
r-0 .4
rO .3
rl .0
2.9
3.3
4.0
2.6
1991
1992
Percent change from corresponding quarter of previous year
I
II
III
IV
r2 .2
-3.9
-5.1
-4.8
-2.1
r-5 .9
r5.2
rl .1
rO .2
rl .3
r-6 .1
r-5 .0
r-3 .4
r4 .5
r4 .1
r4 .0
ANNUAL
rl .1
-4.0
r-5 .0
rA .3
rO .1
3.2
I
1 .8
0.5
-1 .3
2 .6
-0 .2
0.8
1991
1992
See footnotes following table 6.
r=revised
June 17, 1992
Source: Bureau of Labor Statistics
-13-
Table 5. Nondurable manufacturing sector: Productivity, hourly compensation, and unit labor cost,
seasonally adjusted
R«al
Year
Output per
Hours
CompensacompensaUnit
and
hour of
Output
c£ all
tion per
tion per
labor
quarter
all persons
(€)_
persons
hour(1)
hour<2)
costs
Indexes 1982-100
I
II
III
IV
rll4 .3
115 .5
.1
rl!7 .4
121.4
122.1
124.9
r!25.6
r!06.2
105,7
r!06.6
r!07.0
r!42.0
. 143.2
r!44.2
r!45.1
rlOl .6
101 .8
rlOl .9
rlOl .6
r!24 .2
124 .0
r!23 .1
r!23 .6
ANNUAL
rl!6.0
r!23.5
r!06.5
r!43 .6
rlOl .7
123.7
I
117 .9
125.6
106.5
145 .7-
101 .3
123 .6
1991
1992
Percent change from previous quarter at annual rate (5)
I
II
III
IV
r-2 .3
r4 .2
r5 .7
rO .9
-6.4
2.3
9.3
r2.5
r-4.2
r-1.9
r3.4
rl.6
r3 .0
r3 .4
r2 .7
2.5
r-0 .2
rO .9
rO .0
-1 .0
r5 .4
r-0 .8
r-2 .8
rl .6
ANNUAL
rl .7
tO.l
r-1.5
r4 .1
r-0 .1
2 .4
I
1.8
-0.2
-2.0
1.7
-1 .1
-0 .1
1991
1992
Percent change from corresponding quarter of previous year
I
II
III
IV
rO .5
r2 .0
r2 .4
r2 .1
-1.5
-0.8
0.9
rl.8
r-2.0
r-2. 7
-1.4
r-0.3
r5 .6
r4 .5
r3 .9
r2 .9
rO .3
r-0 .4
rO .1
r-0 .1
r5 .1
2.5
1.4
rO .8
ANNUAL
rl .7
rO.l
r-1.5
r4 .1
r-0 .1
2 .4
I
3 .1
3.4
0.3
2 .6
-0 .3
-0 .5
1991
1992
See footnotes following table 6.
r-revised
June 17? 1992
Source: Bureau of Labor Statistics
-14-
Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor cost, unit profits,
and prices, seasonally adjusted
Output
per allemployee
hour
Year
and
quarter
Output
Employee
hours
Hourly
compensat ion
(1)
Real
hourly
compensat ion <2)
Unit
labor
costs
Unit
nonlabor
cost (7)
Total
unit
cost
(8)
Unit
profits
(9)
Implicit
price
deflator
(4)
Indexes 1982-100
1991
I
II
III
IV
rl!2.0
rl!2.8
rl!3.6
114.6
133.3
134.0
134.8
135.8
rl!9.0
rl!8.7
rll8.7
118.5
r!40.4
r!42.1
r!43.3
144.2
rlOO.5
rlOl.O
rl01.2
101.0
125.4
125.9
126.2
125.9
123.7
123.4
124.1
123.6
124.9
125.2
125.6
125.2
130.9
138.2
136.7
141.7
125.3
126.0
126.3
126.3
ANNUAL
rll3.1
134.4
r!18.8
r!42.4
rlOO.9
125.9
123.7
r!25.2
r!36.9
126.0
I
115.4
136.7
118.5
144.8
100.7
125.5
122.3
124.6
155.1
126.5
7.0
24.4
-4.2
15.2
4.2
2.2
0.9
-0.1
1992
Percent change from previous quarter at annual rate (5)
2.7
1.3
1.5
0.9
11.2
-1.1
2.6
-0.5
r2.2
rO.8
-0.9
-0.8
-1.8
4.0
0.8
1.3
-1.1
r-2.9
r4.4
rO.2
r2.4
5.6
3.3
r-7.6
2.5
-0.2
1.6
-1.2
-1.2
-4.1
-2.1
43.7
0.7
I
II
III
IV
1.4
-4.3
r3.2
r2.6
-5.6
r-1.0
r-0.1
-0.7
r4.7
r3.5
3.5
2.1
2.5
2.8
ANNUAL
r2.0
r-0.9
1992
I
2.8
2.7
1991
I
II
III
- IV
rl.6
rl.3
r2.6
-1.9
-2.2
-0.4
2.7
ANNUAL
I
1991
2.4
Percent change from corresponding quarter of previous year
1992
7.6
7.2
5.0
2.6
5.2
4.5
2.3
1.2
-19.0
-15.5
-1.4
10.1
3.2
2.8
2.0
1,8
r4.4
rO.2
r2.4
5.6
3.3
r-7.6
2.5
3.1
0.2
0.1
-1.2
-0.3
18.5
0.9
rO.6
r-0.1
rO.l
0.8
r6.0
r4.8
r3.9
3.4
r2.0
r-0.9
r-2.9
3.0
2.5
-0.5
See footnotes following table 6.
r»revised
0.4
4.3
3.5
1.3
0.7
r-3.4
r-3.4
r-2.9
-1.9
June 17, 1992
Source: Bureau of Labor Statistics
-15-
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
1990.
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
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, 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.
Appendix table 1.
Buaines* sector: Productivity, hourly compensation, unit labor cost, and prices, seasonally
adjusted
Real
CompensacompensaUnit
Unit nonImplicit
Hours
Year
Output per
labor pay- price
tion per
tion per
labor
of all
and
hour of
ments (3)
deflator (4)
persons
hour (1)
hour (2)
costs
quarter
all persons
Output
Indexes 1982*100
1987
1988
1989
1990
I
II
III
IV
108,1
109.2
109.9
110.3
ANNUAL
109.4
I
II
III
IV
110.6
110.1
110.5
110.5
ANNUAL
110.4
I
II
III
IV
109.9
109.7
109.4
109.3
ANNUAL
109.5
112.8
113.6
114.4
115.5
121.1
121.6
123.0
125.3
104,4
103.7
103.8
104.8
112.0
111.4
111.9
113.6
122.6
125.8
127,2
12€. 6
115.5
116,1
116.9
117.9
124.8
114.1
122.7
104.3
112.2
125.6
116.6
128.5
129.8
130.4
131.7
116.2
117.9
118.1
119.2
125.6
127.2
129.2
130.2
104.2
104.4
104.6
104.3
113.6
115.6
116.9
117.8
129.1
129.3
131.2
133.1
118.7
120.1
121.6
122.8
130.1
117.9
128.0
104.4
116.0
130.7
120.8
132.6
132.5
132.4
132.2
120.6
120.8
121.1
121.0
131.2
131.9
132.9
134.2
103.9
102.9
102.9
102.8
119.3
120.2
121,5
122.8
134.3
136.5
136.5
137.3
124.2
125.6
126.4
127.6
132.4
120.9
132.5
103.1
121.0
136.2
126.0
136.1
139.1
141.5
143.1
102.5
103.7
103.7
103.2
124.3
126.1
128.6
130.1
138.2
138.7
137.8
137.5
128.8
130.2
131.6
132.5
139.9
103.3
127.3
138.0
130.8
121.9
124.0
125.7
127.4
I
II
III
IV
109.5
110.3
110.1
109.9
133.2
133.9.
132.9
131.8
121.6
121.3
120.7
119.9
ANNUAL
109.9
132.9
120.9
Percent change from previous quarter at annual rate (5)
1987
1988
1989
1990
I
II
III
IV
0.4
3.9
2.6
1.5
4.6
7.1
5.6
5.3
4.2
3.0
2.9
3.8
1.7
1.8
4.5
7.9
-3.5
-2.6
0.2
3.9
ANNUAL
1.0
4.1
3.1
3.5
I
II
III
IV
1.0
-1.7
1.5
0.0
3.6
4.0
2.1
4.0
2.6
5.9
0.5
4.0
0.8
5.4
6.3
3.0
ANNUAL
0.9
4.3
3.3
I
II
III
IV
-1.9
-1.0
-1.1
-0.4
2.6
-0.3
-0.1
-0.6
4.7
0,7
1.0
-0.2
ANNUAL
1.3
-2.0
1.9
6.3
6.4
10.7
4.6
-1.9
3.0
2.3
2.8
3.3
-0.1
2.5
2.9
2.6
-2.1
0.8
0.8
-1.3
-0.2
7.3
4.7
3.1
8.2
0.5
6.2
5.8
2.7
4.8
5.2
4.0
4.3
0.1
3.3
4.1
3.6
3.1
2.2
3.2
4.0
-1.5
-3.9
0.0
-0.2
5.2
3.2
4.3
4.4
3.8
6.6
0.0
2.5
4.7
4.4
2.7
3.7
-0.7
1.8
2.6
3.5
-1.2
4.3
4.2
4.3
I
II
III
IV
0.9
3.0
-1.0
-0.4
3.0
2.0
-3.0
-3.0
2.0
-1.0
-2.0
-2.6
5.8
9.2
7.1
4.4
-1.2
4.8
0.0
-2.3
4.8
6.0
8.1
4.9
2.4
1.4
-2.3
-1.1
4.0
4.3
4.4
2.8
ANNUAL
0.4
0.4
0.0
5.6
0.2
5,2
1.3
3.8
Percent change from corresponding quarter of previous year
1987
1988
1989
1990
I
II
III
IV
-0.3
0.5
1.6
2.1
1.9
3.8
4.9
5.6
2.2
3.3
3.3
3.5
3.7
3.1
3.3
3.9
1.6
-0.6
-0.9
-0.5
4.0
2.6
1.7
1.8
-0.6
2.8
4.4
4.8
2.3
2.6
2.6
2.9
ANNUAL
1.0
4.1
3.1
3.5
-0.1
2.5
2.9
2.6
I
II
III
IV
2.2
0.8
0.5
0.2
5.4
4.6
3.7
3.4
3.1
3.8
3.2
3.2
- 3.7
4.6
5.1
3.9
-0.2
0.7
0.8
-0.5
1.5
3.8
4.5
3.7
5.3
2.8
3.2
5.1
2.8
3.4
4.0
4.2
ANNUAL
0.9
4.3
3.3
4.3
0.1
3.3
4.1
3.6
I
II
III
IV
-0.6
-0.4
-1.0
-1.1
3.2
2.1
1.5
0.4
3.8
2.5
2.6
1.5
4.4
3.6
2.9
3.1
-0.3
-1.5
-1.7
-1.4
5.0
4.0
3.9
4.3
4.1
5.6
4.0
3.2
4.7
4.6
4.0
3.9
ANNUAL
-0.7
1.8
2.6
3.5
-1.2
4.3
4.2
4.3
I
II
III
IV
-0.4
0.6
0.6
0.6
0.5
1.0
0.3
-0.3
0.9
0.4
-0.3
-0.9
3.8
5.5
6.5
6.6
-1.3
0.9
0.8
0.3
4.2
4.9
5.8
5.9
2.8
1.6
1.0
0.1
3.7
3.7
4.1
3.9
ANNUAL
0.4
0.4
0.0
5.6
0.2
5.2
1.3
3.8
See footnotes following table 6.
r-revised
June 17, 1992
Source: Bureau of Labor Statistics
-17Appendix table 2.
Nonfarm business sector: Productivity, hourly compensation, unit labor
seasonally adjusted
Real
CompensacompensaHours
Year
Output per
of all
tion per
tion per
and
hour of
hour (1)
hour (2)
persons
quarter
all persons
Output
cost, and prices,
Unit
labor
costs
Unit nonlabor payments (3)
Implicit
price
deflator (4)
Indexes 1982-100
I
II
III
IV
107.1
108.2
108.8
109.1
122.2
124.3
126.0
127.6
114.1
114.9
115.8
116.9
120.4
121.0
122.4
124.6
103.9
103.2
103.2
104.2
112.5
111.9
112.4
114.2
123.9
126.8
128.4
127.5
116.2
116.7
117.6
118.5
ANNUAL
108.3
125.0
115.4
122.1
aos.?
112.8
126.7
117.2
I
II
III
IV
109.2
108.9
109.3
109.6
128.6
130.1
130.9
132.5
117.7
119.5
119.8
120.9
124.8
126.4
128.3
129.3
103.6
103.8
103.9
103.6
114.3
116.1
117.3
118.0
130.2
130.5
132.0
134.7
119.4
120.8
122.1
123.4
ANNUAL
109.2
130.6
119.5
127.2
103.7
116.4
131.9
121.4
I
II
III
IV
108.7
108.1
108.1
108.0
133.0
132.8
132.8
132.6
122.3
122.8
122.9 '
122.8
130.3
130.7
131.8
133.2
103.2
101.9
102.1
102.0
119.8
120.8
122.0
123.3
134.4
136.8
137.3
137.8
124.5
126.0
126.9
128.0
ANNUAL
108.2
132.8
122.7
131.5
102.3
121.5
136.6
126.4
I
II
III
IV
108.0
108.7
108.4
108.4
133.5
134.1
133.1
132.0
123.6
123.3
122.8
121.7
134.8
13V7
140.1
141.8
101.6
102.7
102.7
102.2
124.9
126.7
129.3
130.8
138.4
138.9
138.3
138.7
129.2
130.6
132.2
133.3
ANNUAL
108.4
133.2
122.9
138.6
102.3
127.9
138.5
131.3
1987
1988
1989
1990
Percent change from previous quarter at annual rate (5)
I
II
III
IV
-0.1
4.2
2.4
1.0
4.6
7.2
5.6
5.0
4.7
2.8
3.1
4.0
1.2
1.9
4.5
7,7
-3.9
-2.6
0.2
3.7
ANNUAL
0.8
4.1
3.3
3.4
I
II
III
IV
0.5
-1.3
1.7
1.0
3.3
4.8
2.6
4.9
2.8
6.1
0.9
3.9
ANNUAL
0.9
4.4
I
II
III
IV
-3.3
-2.0
-0.2
-0.5
1987
1988
1989
1.3
-2.2
2.1
6.6
7.5
9.9
5.0
-2.9
3.4
1.9
3.1
3.2
-0.2
2.6
2.8
2.6
0.6
5.3
5.9
3.3
-2.2
0.7
0.4
-1.1
0.1
6.6
4.1
2.3
8.8
1.0
4.8
8.4
3.1
4.6
4.4
4.4
3.5
4.1
0.0
3.2
4.1
3.6
1.4
-0.6
0.1
-0.7
4.9
1.4
0.3
-0.2
2.9
1.3
3.6
4.1
-1.7
-4.7
0,4
-0.1
6.5
3.3
3.8
4.6
-0.8
7.3
1.4
1.6
3.9
4.7
3.0
3.5
ANNUAL
-0.9
1.7
2.7
3.4
-1.4
4.3
3.6
4.1
I
II
III
IV
0.1
2.7
-1.2
0,2
2.7
1.8
-3.0
-3.1
2.6
-0.9
-1.8
-3.3
5.1
8.9
7.1
4.8
-1.8
4.6
0.0
-1.9
5.0
6.1
8.4
4.6
1.6
1.5
-1.8
1.2
3.8
4.5
4.8
3.4
ANNUAL
0.1
0.3
0.1
5.4
0.0
5.3
1.4
3.9
I
II
III
IV
-0.5
0.4
1.4
1.8
1.9
3.8
5.0
5.6
2.5
3.4
3.5
3.7
3.6
3.1
3.2
3.8
1.4
-0.7
-1.0
-0.7
4.1
2.7
1.7
1.9
-0.8
2.5
4.6
4.8
2.4
2.6
2.7
2.9
ANNUAL
0.8
4.1
3.3
3.4
-0.2
2.6
2.8
2.6
I
II
III
IV
2.0
0.6
0.5
0.5
5.3
4.7
3.9
3.9
3.2
4.0
3.4
3.4
3.6
4.5
4.8
3.8
-0.3
0.6
0.6
-0.6
1.6
3.8
4.3
3.3
5.1
2.9
2.8
5.7
2.8
3.5
3.8
4.1
1990
Percent change from corresponding quarter of previous year
1987
1988
ANNUAL
0.9
4.4
3.5
4.1
0.0
3.2
4.1
3.6
I
II
III
IV
-0.5
-0.7
-1.1
-1.5
3.4
2.0
1.4
0.0
3.9
2.7
2.6
1.6
4.3
3.3
2.8
3.0
-0.4
-1.8
-1.8
-1.5
4.9
4.0
4.0
4.6
3.3
4.9
4.0
2.3
4.3
4.3
4.0
3.8
ANNUAL
-0.9
1.7
2.7
3.4
-1.4
4.3
3.6
4.1
I
II
III
IV
-0.7
0.5
0.3
0.4
0.4
1.0
0.2
-0.4
1.0
0.5
-0.1
-0.9
3.5
5.4
6.3
6.5
-1.6
0.8
0.7
0.2
4.2
4.9
6.0
6.0
2.9
1.5
0.7
0.6
3.8
3.7
4.2
4.1
ANNUAL
0.1
0.3
0.1
5.4
0.0
5.3
1.4
3.9
1989
1990
See footnotes following table 6.
r-revised
June 17, 1992
Source: Bureau of Labor Statistics
-18Appendix table 3.
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
costs
Indexes 1982*100
1987
1988
1989
1990
121.1
123.2
125.6
128.3
I
II
III
IV
114.9
117.0
118.0
119.0
ANNUAL
117.2
124.6
I
II
III
IV
120.4
121.7
123.2
122.9
130.7
132.9
134.7
135.3
ANNUAL
122.0
133.4
109.4
105.4
105.4
106.4
107.8
102.4
100.3
100.0
100.0
117.7
117.4
118.0
119.0
101.5
100.1
99.5
99.5
106.2
118.0
100.2
100.7
108.6
109.2
109.4
110.1
120.6
121.6
123.3
125.0
100.1
99.8
99.9
100.2
100.2
100.0
100.1
101.7
122.6
100.0
100.5
103.1
102.8
104.6
105,6
I
II
III
IV
122.3
122.7
122.3
123.0
135.3
135.2
134.1
133.5
110.6
110.2
109.7
108.6
126.2
126.2
128.0
129.9
99.9
98.5
99.1
99.5
ANNUAL
122.5
134.6
109.8
127.5
99,2
104.0
I
II
III
IV
123.7
124.9
127.2
126.8
134.1
135.4
136.6
133.9
108.4
108.4
107.4
105.6
131.0
133.5
135.4
137.3
98.7
99.6
99.3
99.0
105.9
106.9
106.4
108.3
ANNUAL
125.7
135.0
107.4
134.4
99.2
106.9
2.0
-1.1
2.1
3.6
-3.1
-5.4
-2.1
-0.1
-0.3
-7.7
-1.5
0.1
Percent change from previous quarter at annual rate (5)
1987
1988
1989
1990
I
II
III
IV
2.3
7.2
3.6
3.5
2.8
7.2
7.9
8.8
ANNUAL
4.1
4.9
0.7
2.2
-1.4
-1.8
I
II
III
IV
4.5
4.4
5.1
-1.0
7.7
7.0
5.7
1.7
3.0
2,5
0.5
2.7
5.4
3.5
5.5
5.7
2.4
-1.0
0.1
1.2
0.8
-0.9
0.4
6.8
0.5
0.1
4.1
5.1
ANNUAL
4.0
7.1
2.9
3.9
-0.2
-0.1
I
II
III
IV
-1.7
1.3
-1.4
2.2
0.2
-0.4
-3.1
-1.9
1.9
-1.6
-1.8
-4.0
3.7
0.2
5.7
6.1
-1.0
-5.7
2.5
1.9
5.5
-1.0
7.2
3.8
. ANNUAL
0.5
0.9
0.4
4.0
-0.8
3.5
I
II
III
IV
2.4
3.9
7.6
-1.3
1.9
4.0
3.4
-7.6
-0.5
0.0
-3.8
-6.3
3.5
7.8
5.8
5.7
-3.3
3.5
-1.2
-1.1
1.1
3.7
-1.6
7.2
2.6
0.3
-2.2
5.4
0.0
2.7
ANNUAL
Percent change from corresponding quarter of previous year
1987
1988
1989
1990
I
II
III
IV
3.4
4.5
4.4
4.2
2.6
4.4
5.7
6.7
-0.7
-0.1
1.3
2.4
3.3
2.3
1.8
1.7
1.1
-1,4
-2.4
-2.7
-0.1
-2.1
-2.5
-2.4
ANNUAL
4.1
4.9
0.7
2.2
-1.4
-1.8
I
II
III
IV
4.7
4.0
4.4
3.2
7.9
7.8
7.3
5.5
3.0
3.7
2.8
2.2
2.5
3.6
4.5
5.0
-1.4
-0.2
0.3
0.7
-2.1
-0.4
0.1
1.7
ANNUAL
4.0
7.1
2.9
3.9
-0.2
-0.1
I
II
III
IV
1.7
0.9
-0.7
0.1
3.6
1.8
-0.4
-1.3
1.9
0.9
0.3
-1.4
4.6
3.8
3.8
3.9
-0.2
-1.4
-0.8
-0.6
2.9
2.9
4.6
3.8
ANNUAL
0.5
0.9
0.4
4.0
-0.8
3.5
I
II
III
IV
1.1
1.8
4.0
3.1
-0.9
0.2
1.8
0.3
-2.0
-1.6
-2.1
-2.7
3.9
5.8
5.8
5.7
-1.2
1.1
0.2
-0.5
2.7
3.9
1.7
2.5
ANNUAL
2.6
0.3
-2.2
5.4
0.0
2.7
See footnotes following table 6.
June 17, 1992
Source: Bureau of Labor Statistics
-19Appendix table 4.
Durable manufacturing sector: Productivity, hourly compensation, and unit labor coat,
seasonally adjusted
Hours
of all
persons
Compensation per
hour (1). .
Real
compensation per
hour (2)
Unit
labor
costs
Output per
hour of
all persons
Output
(6)
I
II
III
IV
118.5
121.2
122.0
124.1
125.4
127.7
130.0
134.3
105.8
105.4
106.5
108.3
117.0
116.2
116.6
117,4
100.9
99.1
98.4
98.1
98.7
95.9
95.6
94.6
ANNUAL
121.5
129.4
106.5
116.8
99.2
96.2
I
II
III
IV
126.0
127.7
129.6
130.1
137.4
141.1
143.7
145.5
109.1
110.4
110.9
111.8
119.0
119.3
120.8
122.7
98.7
97.9
97.8
98.3
94.4
93.4
93.2
94.3
ANNUAL
128.3
141.9
110.6
120.4
98.2
93.8
I
II
III
IV
129.3
130.9
131.2
131.2
145.2
145.5
144.4
142.6
112.3
111.1
110.1
108.7
124.0
124.0
126.1
128.3
98.2
96.7
97.6
98.3
95.9
94.7
96.1
97.8
ANNUAL
130.6
144.4
110.6
125.5
97.7
96.1
I
II
III
IV
132.0
134.6
137.9
136.6
143.2
145.7
147.3
142.6
108.4
108.2
106.8
104.4
129.0
131.5
133.5
135.4
97.2
98.0
97.8
97.6
97.7
97.7
96.8
99.1
ANNUAL
135.4
144.7
106.9
132.4
97.8
97.8
Year and
quarter
Indexes 1982-100
1987
1988
1989
1990
Percent change from previous quarter at annual rate (5)
1987
1988
1989
I
II
III
IV
4.3
9.3
2.8
6.9
3.7
7.7
7.3
14.0
-0.6
-1.5
4.4
6.7
1.0
-2.6
1.4
2.5
-4.1
-6.9
-2.8
-1.2
-3.2
-10.9
-1.4
-4.1
ANNUAL
5.5
5.3
-0.2
1.6
-1.9
-3.7
I
II
III
IV
6.1
5.8
6.0
1.6
9.5
11.1
7.6
5.0
3.1
5.0
1.6
3.3
5.6
1.0
5.1
6.6
2.6
-3.4
-0.3
2.1
-0.5
-4.5
-0.8
4.9
ANNUAL
5.7
9.7
3.8
3.1
-1.0
-2.4
I
II
III
IV
-2.5
5.1
0.8
0.2
-0.6
0.7
-3.0
-4.8
2.0
-4.2
-3.8
. -5.0
4.4
-0.1
6.9
7.1
-0.4
-6.0
3.6
2.8
7.1
-4.9
6.1
6.8
ANNUAL
1.8
1.8
0.0
4.3
-0.5
2.5
I
II
III
IV
2.5
8.1
10.1
-3.7
1.6
7.3
4.3
-12.1
-0.9
-0.7
-5.2
-8.8
2.3
7.8
6.3
5.8
-4.5
3.6
-0.8
-1.0
-0.2
-0.2
-3.4
9.8
ANNUAL
3.7
0.2
-3.4
5.5
0.1
1.7
-1.3
-4.1
-4.1
-5.0
1990
Percent change from corresponding quarter of previous year
1987
I
II
III
IV
4.6
6.4
5.5
5.8
2.4
4.8
5.9
8.1
-2.0
-1.4
0.3
2.2
3.2
2.0
1.2
0.5
1.0
-1.8
-2.9
-3.8
ANNUAL
5.5
5.3
-0.2
1.6
-1.9
-3.7
I
II
III
IV
6.3
5.4
6.2
4.9
9,6
10.5
10.5
8.3
3.1
4.8
4,1
3.2
1.7
2.6
3.5
4.6
-2.1
-1.2
-0.6
0.2
-4.3
-2.7
-2.5
-0.3
ANNUAL
5.7
9.7
3.8
3.1
-1.0
-2.4
I
II
III
IV
2.7
2.5
1.2
0.8
5.7
3.1
0.5
-2.0
3.0
0.6
-0.7
-2.8
4.3
4.0
4.4
4.5
-0.5
-1.2
-0.2
0.0
1.6
1.5
3.2
3.7
ANNUAL
1.8
1.8
0.0
4.3
-0.5
2,5
I
II
III
IV
2.1
2.8
5.1
4.1
-1.4
0.2
2.0
0.0
-3.5
-2.6
-3.0
-3.9
4.0
6.0
5.8
5.5
-1.1
1.3
0.2
-0.7
1.9
3.1
0.7
1.4
ANNUAL
3.7
0.2
-3.4
5.5
0.1
1.7
1988
1989
1990
See footnotes following table 6.
June 17, 1992
Source: Bureau of Labor Statistics
-20Appendlx 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 (1)
Real
compensation per
hour (2)
Unit
labor
costs
Indexes 1982-100
1987
1988
1989
1990
I
II
III
IV
110.7
111.9
113.2
113.0
115.9
117.8
120.3
121.0
104.7
105.3
106.3
107.1
118.7
119.3
120.2
121.8
102.4
101.7
101.5
101.8
107.3
106.6
106.2
107.8
ANNUAL
112.2
118.8
105.9
120.0
102.0
107.0
I
II
III
IV
113.7
114.5
115.6
114.2
122.6
123.0
123.9
123.0
107.8
107.5
107.2
107.7
123.3
125.4
127.3
128.6
102.3
103.0
103.1
103.0
108.5
109.6
110.1
112.5
ANNUAL
114.5
123.2
107.6
126.1
102.9
110.2
I
II
III
IV
114.1
112.9
111.7
113.1
123.4
122.9
121.8
122.6
108.2
108.8
109.1
108.4
129.4
129.8
131.1
132.6
102.5
101.3
101.5
101.6
113.4
114.9
117.4
117.3
ANNUAL
112.9
122.7
108.7
130.7
101.7
115.8
I
II
III
IV
113.7
113.2
114.4
115.0
123.3
123.1
123.7
123.5
108.4
108.7
108.2
107.4
134.5
137.0
138.9
141.0
101.3
102.2
101.8
101.7
118.3
121.0
121.4
122.6
ANNUAL
114.1
123,4
108.1
137.9
101.8
120.8
I
II
III
IV
-0.4
4.3
4.8
-0.6
1.7
6.7
8.7
2,3
ANNUAL
2.1
I
II
III
IV
2.4
2.8
4.0
-4.5
ANNUAL
2.0
I
II
III
IV
-0. 6
-4. 0
-4.4
5.1
ANNUAL
-1.4
I
II
III
IV
2.3
-1. 7
4. 1
2. 1
1. 1
Percent change from previous quarter at annual rate (5)
1987
1988
1989
1990
ANNUAL
2.1
2.3
3.7
2.9
4.1
1.9
3.3
5.2
-1.1
-2.5
-1.0
1.3
4.3
2.1
3.5
-0.2
1.3
5.3
1.6
2.9
-2.9
2.8
-1.1
-1.0
1.8
5.0
7.2
6.1
4.1
2.1
2.5
0.6
-0.3
2.6
4.2
2.0
9.0
3.7
1.6
5.1
0.9
3.0
1.3
-1.8
-3.3
2.4
1. 9
2. 2
1. 1
-2. 6
2 .6
1 .3
4 .1
4 .7
-2 .1
-4 .7
0 .9
0 .6
3.2
5.5
8.9
-0.4
-0.4
1. 0
3 .6
-1 .1
5.1
2.3
-0.6
2.1
-0.9
-0. 1
1. 1
-1. 9
-2. 9
5.7
7 .8
5 .4
6 .2
-1 .3
3 .6
-1 .6
-0 .6
3.3
9.7
1.3
4.1
0.6
-0. 5
5 .5
0 .1
4.4
4.5
-2.3
-1.5
5.8
Percent change from corresponding quarter of previous year
1987
1988
1989
1990
I
II
III
IV
1. 6
1. 8
2. 9
2.0
2.9
3.8
5.6
4.8
1.3
2.0
2. 6
2. 7
3 .8
3 .2
3 .0
3 .6
1 .7
-0 .6
-1 .3
-0 .8
2.2
1.3
0.1
1.6
ANNUAL
2. 1
4.3
2.1
3 .5
-0 .2
1.3
I
II
III
IV
2. 7
2.3
2. 1
1. 1
5.7
4.4
3.0
1.7
2. 9
2. 1
0. 9
0. 6
3 .8
5 .1
5 .9
5 .6
-0 .1
1 .2
1 .6
1 .2
1.1
2.8
3.7
4.4
ANNUAL
2. 0
3.7
1. 6
5 .1
0 .9
3.0
I
II
III
IV
0. 4
-1. 3
-3. 4
-1, 0
0.7
-0.1
-1.7
-0.4
0. 4
1, 2
1. 7
0. 6
5 .0
3 .5
3 .0
3 .2
0 .2
4.6
4.9
6.6
4.2
ANNUAL
-1, 4
-0.4
1. 0
3 .6
I
II
III
IV
-0.3
0.3
2. 4
1. 7
-0.1
0.2
1.5
0.7
0. 2
-0. 1
-0. 9
-0. 9
3 .9
5 .6
5 .9
6 .3
ANNUAL
1. 1
0.6
-0.5
5 ,5
See footnotes following table 6.
-1 .7
-1 .6
-1 .3
-1 .1
-1 .1
5.1
0 .9
0 .3
0 .0
4.3
5.3
3.4
4.5 .
0 .1
4.4
June 17, 1992
Source: Bureau of Labor Statistics
-21Appendix table 6.
Nonfinancial corporations: Productivity, hourly compensation, unit labor cost, unit profits, and prices,
seasonally adjusted
Year
and
quarter
Output
per allemployee
hour
Output
Hourly
compenEmployee sation
hours
U>
Real
hourly
compensation (2)
Unit
labor
costs
Unit
nonlabor
cost (7)
Total
unit
cost
Unit
profits
Implicit
price
deflator
(8)
(9)
(4)
Indexes 1982*100
I
II
III
IV
109.2
110.3
111.5
111.7
123.9
126.0
128.5
130.0
113.4
114.3
115.3
116.3
118.5
119.3
120.7
122.7
102.2
101.7
101.8
102.6
108.5
108.2
108.3
109.8
103.2
102.7
102.1
102.4
107.0
106.6
106.5
107.7
156.9
172.3
182.5
177.2
110.1
110.7
111.2
112.0
ANNUAL
110.7
127.1
114.9
120.3
102.2
108.7
102.6
107.0
172.4
111.0
I
II
III
IV
112.8
112.8
112.5
112.5
132.3
133,7
134.1
135.7
117.2
118.5
119.2
120.6
122.9
124.4
126.0
126.9
102.0
102.1
102.0
101.6
108.9
110.2
112.0
112.8
104.9
105.8
107.5
108.5
107.8
108.9
110.7
111.6
185.3
184.9
180.6
184.1
112.6
113.6
115.0
116.0
ANNUAL
112.7
134.0
118.9
125.1
102.0
111.0
106.7
109.7
183.7
114.3
I
II
III
IV
111.1
110.6
110.8
110.4
135.6
135.5
135.8
135.6
122.1
122.6
122.6
122.8
128.1
128.5
129.7
131.3
101.5
100.2
100.4
100.6
115.3
116.2
117.1
118.9
108.7
111.1
113.5
114.4
113.4
114.8
116.1
117.6
177.0
178.6
173.0
161.7
117.4
118.7
119.6
120.3
ANNUAL
110,7
135.6
122.5
129.4
100.7
116.9
111.9
115.5
172.6
119.0
I
II
III
IV
110.2
111.4
110.7
111.6
135,9
136.9
135.4
134.7
123.3
122.9
122.3
120.8
132.5
135.6
137.9
139.5
99.8
101.1
101.1
100.6
120.3
121.7
124.6
125.0
115.0
115.1
118.1
120.5
118.8
119.8
122.8
123.7
161.6
163.6
138.7
128.7
121.4
122.5
123.7
124,0
ANNUAL
111.0
135.7
122.3
136.3
100.7
122.9
117.1
121.3
148.2
122.9
1987
1988
1989
1990
Percent change from previous quarter at annual rate (5)
1.8
7.1
fl.4
4.5
4.5
2.9
3.8
3.5
-1.3
2.8
4.8
6.8
-6.3
-1.8
0.5
2.9
1.3
-1.2
0.4
5.7
-1.8
-1.8
-2.4
1.4
0.5
-1.4
-0.3
4.5
39.1
45.6
25.7
-11.0
3.3
2.2
2.0
2.9
1.4
4.1
2.7
2.8
-0.8
1.4
0.0
1.0
15.1
2.2
I
II
III
IV
4.0
0.0
-1.2
-0.1
7.3
4.4
1.2
4.8
3.2
4.4
2.4
4.9
0.5
4.9
5.3
2.8
-2.3
0.4
-0.1
-1.5
-3.3
4.9
6.5
2.9
10.0
3.4
6.6
3.8
0.1
4.5
6.6
3.2
19.7
-0.9
-9.1
8.0
1.9
3.9
4.9
3.6
ANNUAL
1.8
5.4
3.5
4.0
-0.2
2.1
4,0
2.6
6.6
3.0
I
II
III
IV
-4.9
-1.9
0.7
-1.2
-0.3
-0.3
0.9
-0.5
4.8
1.6
0.1
0.7
3.9
1.2
3.8
4.9
-0.8
-4.7
0.6
0.7
9.3
3.2
3.1
6.2
0.9
9.2
8.8
3.4
6.9
4.8
4.6
5.4
-14.5
3.8
-12.1
-23.6
4.7
4.7
3.0
2.5
1.2
3.1
3.5
-1.3
5.3
5.0
5.2
-6.1
4.1
I
II
III
IV
-2.6
4.1
4.3
1.0
ANNUAL
1987
1988
1989
ANNUAL
-1.8
I
II
III
IV
-0.8
4.5
-2.4
3.1
0.7
3.2
-4.5
-1.9
1.5
-1.2
-2.1
-4.8
3.9
9.5
7.2
4.6
-2.9
5.2
0.1
-2.1
4.8
4.8
9.9
1.5
2.0
0.3
11.1
8.1
4.0
3.6
10.2
3.2
-0.3
5.0
-48.3
-26.0
3.6
3.7
4.1
1.0
ANNUAL
0.2
0.1
-0.1
5.4
0.0
5.1
4.6
5.0
-14.1
3.3
I
II
III
IV
0.4
1.4
2.0
1.7
1.8
3.9
5.3
5,4
1.4
2.5
3.2
3.7
2.7
2.5
2,7
3.2
0.6
-1.3
-1.5
-1.2
2.3
1.1
0.7
1.5
1.5
1.2
-1.4
-1.1
2.1
1.1
0.1
0.8
-2.6
15.5
26.4
22.7
1.7
2.3
2.3
2.6
ANNUAL
1.4
4.1
2.7
2.8
-0.8
1.4
0.0
1.0
15.1
2.2
I
II
III
IV
3.3
2.3
1.0
0.7
6.8
6.1
4.4
4.4
3.3
3.7
3.4
3.7
3.7
4.2
4.4
3.4
-0.2
0.3
0.2
-0.9
0.3
1.9
3.4
2.7
1.7
3.0
5.3
5.9
0.7
2.2
3.9
3.6
18.2
7.3
-1.0
3.9
2.2
2.7
3.4
3.6
ANNUAL
1.8
5.4
3.5
4.0
-0.2
2.1
4.0
2.6
6.6
3.0
I
II
III
IV
-1.6
-2.0
-1.6
-1.8
2.5
1.3
1.2
-0.1
4.1
3.4
2.8
1.8
4.2
3.3
3.0
3.5
-0,5
-1.8
-1.6
-1.0
5.9
5.5
4.6
5.4
3.7
5.1
5.6
5.5
5.3
5.4
4.9
5.4
-4,5
-3,4
-4.2
-12.1
4.3
4.5
4.0
3.7
ANNUAL
-1.8
1.2
3.1
3.5
-1.3
5.3
5.0
5.2
-6.1
4.1
I
II
III
IV
-0.8
0.8
0.0
1.0
0.2
1.1
-0.3
-0.7
1.0
0.3
-0.3
-1.7
3.5
5.5
6.4
6.3
-1.6
0.9
0.7
0.0
4.3
4.7
6.4
5.2
5.8
3.5
4.1
5.3
4.7
4.4
5.8
5.2
-8.7
-8.4
-19.8
-20.4
3.4
3.2
3.5
3.1
ANNUAL
0.2
0.1
-0.1
5.4
0.0
5.1
4.6
5.0
-14.1
3.3
1990
Percent change from corresponding quarter of previous year
1987
1988
1989
1990
See footnotes following table 6.
June 17, 1992
Source: Bureau of Labor Statistics
@FedFRASER