Full text of Productivity and Costs : First Quarter 1997 [Revised]

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

Internet address:
Historical, technical
information:
Current data:
Media contact:

http://stats.bls.gov/lprhome.htm
(202) 606-5606
(202) 606-7828
(202) 606-5902

USDL 97-202
TRANSMISSION OF THIS
MATERIAL IS EMBARGOED
UNTIL 10:00 A.M. EDT
WEDNESDAY, JUNE 18,
1997.

PRODUCTIVITY AND COSTS
First Quarter 1997

The Bureau of Labor Statistics of the U.S. Department of Labor today
reported revised productivity data--as measured by output per hour of all
persons--for the first quarter of 1997. The revised seasonally-adjusted
annual rates of productivity change in the first quarter were:
2.9 percent in the business sector, and
2.6 percent in the nonfarm business sector.
In both sectors, the first-quarter productivity gains were the largest since
the fourth quarter of 1993.
In manufacturing, productivity changes in the first quarter were:
2.8 percent in manufacturing,
3.3 percent in durable goods manufacturing, and
3.1 percent in nondurable goods manufacturing.
Manufacturing productivity growth in the first quarter of 1997 was less
than it had been in the fourth quarter of 1996; increases in both output and
hours of all persons were larger, however. Output and hours in
manufacturing, which includes about 18 percent of U.S. business-sector
employment, tend to vary more from quarter to quarter than data for the more
aggregate business and nonfarm business sectors. First-quarter measures are
summarized in table A and appear in detail in tables 1 through 5.
The data sources and methods used in the preparation of the
manufacturing series differ from those used in preparing the business and
nonfarm business series, and these measures are not directly comparable.
Output measures for business and nonfarm business are based on measures of
gross domestic product prepared by the Bureau of Economic Analysis of the
U.S. Department of Commerce. Quarterly output measures for manufacturing
reflect independent indexes of industrial production prepared by the Board of
Governors of the Federal Reserve System. See Technical Notes for further
information on data sources.

--------------------------------------------------------------------Historical measures of productivity and costs have been revised. See
"Revised measures."
---------------------------------------------------------------------

----------------------------------------------------------------------Table A. Productivity and costs: Revised first-quarter 1997 measures
(Seasonally adjusted annual rates)
----------------------------------------------------------------------Real
Hourly
hourly
Unit
Produccompen- compenlabor
Sector
tivity
Output
Hours sation
sation
costs
----------------------------------------------------------------------Percent change from preceding quarter
Business
2.9
7.0
4.0
5.0
2.6
2.1
Nonfarm business
2.6
7.0
4.2
5.2
2.8
2.5
Manufacturing
2.8
5.6
2.8
4.4
2.0
1.6
Durable
3.3
8.6
5.2
4.8
2.4
1.5
Nondurable
3.1
2.5
-0.6
3.2
0.8
0.1
----------------------------------------------------------------------Percent change from same quarter a year ago
Business
1.3
4.7
3.4
4.2
1.2
2.8
Nonfarm business
1.0
4.6
3.6
4.0
1.0
3.0
Manufacturing
3.6
5.3
1.7
4.4
1.4
0.7
Durable
3.9
6.9
2.9
4.5
1.5
0.6
Nondurable
3.5
3.4
-0.1
3.9
0.9
0.3
-----------------------------------------------------------------------

Business
From the fourth quarter of 1996 to the first quarter of 1997, business
productivity increased 2.9 percent as output grew 7.0 percent while hours of
all persons rose 4.0 percent (seasonally adjusted annual rates). The
increase in productivity was the largest since a 3.6 percent increase
occurred during the fourth quarter of 1993. During the fourth quarter of
1996, productivity rose 1.3 percent (as revised), and output and hours rose
4.8 and 3.4 percent, respectively (table 1).
Hourly compensation increased 5.0 percent during the first quarter of
1997, a sharper rise than the 3.7 percent in the fourth quarter of 1996.
This measure of compensation includes wages and salaries, supplements,
employer contributions to employee benefit plans, and taxes. However, unit
labor costs, which reflect changes in both hourly compensation and
productivity, increased slightly less during the first quarter, 2.1 percent,
than they had during the previous quarter, 2.3 percent.
Real hourly compensation, which takes into account changes in the
Consumer Price Index for All Urban Consumers (CPI-U), rose at a 2.6 percent
annual rate in the first quarter; it had risen 0.3 percent in the fourth
quarter of 1996.
The implicit price deflator for business output, which reflects changes
in unit labor costs and unit nonlabor payments, increased 1.8 percent in the
first quarter, compared with a 1.1 percent increase during the fourth quarter
of 1996.

Nonfarm business
Productivity rose 2.6 percent in nonfarm business during the first
quarter of 1997 as output rose 7.0 percent and hours of all persons increased
4.2 percent. As in the larger business sector, the first-quarter
productivity gain was the largest since the fourth quarter of 1993 (when it
also rose 2.6 percent). During the fourth quarter of 1996, productivity
increased 1.3 percent in nonfarm business, reflecting gains of 4.9 percent in
output and 3.6 percent in hours (table 2).
Hourly compensation increased 5.2 percent during the first quarter, more
rapidly than the 3.7-percent increase one quarter earlier. When the rise in
the CPI-U is taken into account, real hourly compensation rose 2.8 percent in
the first quarter and 0.3 percent during the previous quarter. The increase
in unit labor costs in the sector, 2.5 percent in the first quarter, was
about the same as the 2.4-percent increase in the fourth quarter.
The implicit price deflator for nonfarm business output rose 2.0 percent
in the first quarter, a higher rate of growth than the 1.2 percent rise one
quarter earlier.

Manufacturing
Productivity increased 2.8 percent in manufacturing in the first quarter
of 1997, as output rose 5.6 percent and hours of all persons increased 2.8
percent (seasonally adjusted annual rates). In the first quarter, durable
goods industries exhibited strong growth in both output, 8.6 percent, and
hours of all persons, 5.2 percent, resulting in a productivity increase of
3.3 percent. The growth in productivity in nondurable good industries was
similar, 3.1 percent; however, the movements in output and hours were
different. In nondurable manufacturing, output grew 2.5 percent, and hours
of all persons declined 0.6 percent (tables 3, 4, and 5).
Hourly compensation of all manufacturing workers rose 4.4 percent during
the first quarter, compared with an increase of 2.6 percent in the previous
quarter. In the first quarter of 1997, real hourly compensation rose 2.0
percent when the increase in consumer prices is taken into account, compared
with a 0.7 percent drop one quarter earlier. The first-quarter increase in
hourly compensation in the durable goods industries, 4.8 percent, was greater
than that in nondurable goods industries, 3.2 percent.
Unit labor costs rose 1.6 percent in manufacturing in the first quarter
of 1997, after having dropped 1.1 percent in the fourth quarter and 1.2
percent in the third quarter. In durable goods manufacturing, unit labor
costs rose 1.5 percent in the first quarter and fell 0.7 percent in the
fourth quarter of 1996. In nondurable goods manufacturing, unit labor costs
rose 0.1 percent in the first quarter and fell 0.8 percent in the previous
quarter.

------------------------------------------------------------------------Table B. Nonfinancial corporations: Preliminary first-quarter 1997
productivity and cost measures
(Seasonally adjusted annual rates)
------------------------------------------------------------------------Real
Hourly
hourly
Unit
Implicit
Produccompen- compen- labor Unit
price
Period tivity
Output Hours sation
sation
costs profits deflator
------------------------------------------------------------------------Percent change from preceding quarter
1997 I
4.6
8.8
4.0
4.8
2.4
0.2
10.8
1.1
------------------------------------------------------------------------Percent change from same quarter a year ago
1997 I
2.9
6.4
3.4
3.9
1.0
1.0
2.3
0.7
-------------------------------------------------------------------------

Nonfinancial corporations
Preliminary first-quarter 1997 measures of productivity and costs for
nonfinancial corporations also were announced today (tables B and 6).
Productivity rose 4.6 percent in the first quarter, as output increased 8.8
percent and employee-hours rose 4.0 percent (seasonally adjusted annual
rates). In the fourth quarter of 1996, productivity had increased 1.7
percent. Nonfinancial corporations include all corporations doing business
in the United States, except banks, stock and commodity brokers, and finance
and insurance agencies.
Hourly compensation increased 4.8 percent during the first quarter, and
real hourly compensation rose 2.4 percent when the rise in the CPI-U is
taken into account. In the fourth quarter, hourly compensation rose 3.3
percent, and real hourly compensation dropped 0.1 percent.
Unit labor costs for nonfinancial corporations increased 0.2 percent in
the first quarter, less than the 1.5 percent increase recorded in the fourth
quarter of 1996. Unit nonlabor costs fell 1.3 percent in the first quarter
of 1997, and unit profits increased 10.8 percent. During the fourth quarter
of 1996, unit nonlabor costs rose 1.2 percent, and unit profits dropped 9.4
percent (annual rates). The implicit price deflator for nonfinancial
corporate output rose 1.1 percent in the first quarter and 0.1 percent in
the fourth quarter.

REVISED MEASURES
Current and previous measures for the first quarter of 1997 for
business, nonfarm business, and manufacturing are compared in table C.
Productivity and output increased more rapidly--and hours rose more slowly-in the business and nonfarm business sectors than originally reported on May
7, based on information then available. In manufacturing, productivity,
output, and hours of all persons grew more slowly than originally reported
last month.
----------------------------------------------------------------------Table C. Previous and revised productivity and related measures
Quarterly percent change at seasonally adjusted annual rate
----------------------------------------------------------------------Real
Hourly
hourly
Unit
Produccompen- compenlabor
Sector
tivity
Output Hours
sation
sation
costs
----------------------------------------------------------------------First quarter 1997
Business:
Previous
2.1
6.8
4.5
4.5
2.0
2.3
Current
2.9
7.0
4.0
5.0
2.6
2.1
Nonfarm business:
Previous
2.0
6.8
4.7
4.7
2.3
2.7
Current
2.6
7.0
4.2
5.2
2.8
2.5
Manufacturing:
Previous
3.1
6.7
3.5
4.5
2.0
1.4
Current
2.8
5.6
2.8
4.4
2.0
1.6
-----------------------------------------------------------------------

With this release of Productivity and Costs, labor input measures have
been revised to reflect the annual benchmarking of employment levels derived
from the monthly Current Employment Statistics survey and the updating of
seasonal adjustment factors. (See USDL 97-186 for additional information.)
In addition, more recent information on employment in corporations and
nonprofit organizations has been incorporated into the employment and hours
data for the business, nonfarm business, and nonfinancial corporate sectors.
Seasonal adjustment factors also have been updated for the labor input series
that are computed from household survey data.

The revision of the productivity and costs measures to reflect output
calculated using chain-type, annual-weighted indexes has been extended back
to 1947 for the business and nonfarm business sectors and to 1958 for
nonfinancial corporations. Based on these revisions, the long-term rate of
growth in output per hour in the nonfarm business sector, 1947-96, was 2.0
percent a year. Tables 1-6 show revised data in all sectors for 1995-97.
Appendix tables 1-3 show annual indexes of productivity and costs for the
business, nonfarm business, and nonfinancial corporate sectors for all years
since the inception of the series.

Next release date
The next release of Productivity and Costs is scheduled for 10:00 AM
EDT, Tuesday, August 12, 1997. Preliminary second-quarter measures for
business, nonfarm business, and manufacturing will be released at that time.

TECHNICAL NOTES

Labor Hours: 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 paid hours of production and nonsupervisory workers in nonagricultural establishments. Jobs rather than
persons are counted. Weekly paid hours are adjusted to hours at work 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 (BEA) of the Department of Commerce and the CPS are used to measure labor input for government enterprises,
proprietors, and unpaid family workers.
Output: Business sector output is an annual-weighted index constructed after
excluding from gross domestic product (GDP) the following outputs: General
government, nonprofit institutions, paid employees of private households, and
the rental value of owner-occupied dwellings. Corresponding exclusions also
are made in labor inputs. Business output accounted for about 76 percent of
the value of GDP in 1992. Nonfarm business, which also excludes farming,
accounted for about 75 percent of GDP in 1992.
Annual manufacturing indexes are constructed by deflating current-dollar
industry value of production data from the U.S. Bureau of the Census with
deflators from the BEA. These deflators are based on data from the BLS
producer price program and other sources.
The industry shipments are
aggregated using annual weights, and intrasector transactions are removed.
Quarterly manufacturing output measures are based on the index of industrial
production prepared monthly by the Board of Governors of the Federal Reserve
System adjusted to be consistent with annual indexes of manufacturing sector
output prepared by BLS.
Durables include the following 2-digit
SIC
industries:
Primary metal industries; fabricated metal products; nonelectrical machinery; industrial and commercial machinery and computer
equipment;
electronic
and other electrical equipment;
transportation
equipment; instruments; lumber and lumber products; furniture and fixtures;
stone, clay, and glass and concrete products; and miscellaneous manufactures.
Nondurables include: Food and kindred products, tobacco products, textile
mill products, apparel products, paper and allied products, printing and
publishing, chemicals and chemical products, petroleum refining and related
industries, rubber and plastic products, and leather and leather products.
Nonfinancial corporate output is an annual-weighted index constructed by
excluding from GDP the following outputs: General government; nonprofit
institutions; employees of private households; the rental value of owner-occupied dwellings; unincorporated business; and those corporations which are
depository institutions, nondepository institutions, security and commodity
brokers, insurance carriers, regulated investment offices, small business
investment
offices,
and real estate investment trusts.
Nonfinancial
corporations accounted for about 52 percent of the value of GDP in 1992.
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.
Information in this release will be made available to sensory-impaired
individuals upon request. Voice phone: 202-606-STAT; TDD phone: 202-606-5897;
TDD message referral phone number: 1-800-326-2577.

Table 1. Business sector:
Productivity, hourly compensation, unit labor costs,
and prices, seasonally adjusted
Real
Year
Output per
Hours
CompensacompensaUnit
Unit nonImplicit
and
hour of
of all
tion per
tion per
labor
labor pay- price
quarter
all persons Output
persons
hour (1)
hour (2)
costs
ments (3)
deflator (4)
--------------------------------------------------------------------------------------------------------Indexes 1992=100
1995

1996

I
II
III
IV

r100.3
r100.7
r101.0
r100.9

108.8
109.0
110.3
110.4

108.4
108.2
r109.2
r109.4

106.2
r107.2
r108.2
r109.3

98.7
r98.9
r99.2
r99.7

105.8
106.5
107.1
108.4

r107.5
107.8
108.3
106.7

106.4
107.0
107.5
107.8

ANNUAL

r100.7

109.6

108.8

r107.7

r99.1

106.9

107.6

107.2

I
II
III
IV

101.5
r101.7
r101.8
r102.1

111.2
112.6
113.2
114.5

109.6
r110.7
r111.3
r112.2

r110.2
r111.3
r112.3
r113.4

99.7
r99.8
r100.1
r100.2

r108.6
r109.4
110.4
111.1

r107.4
r107.7
107.0
106.7

108.2
108.8
109.2
109.5

ANNUAL

r101.7

112.9

r111.0

r111.7

r99.9

109.9

107.2

108.9

1997
I
r102.8
r116.5
113.3
r114.8
100.8
r111.6
107.0
110.0
--------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
1995

1996

I
II
III
IV

r-2.5
r1.5
r1.2
-0.6

0.4
0.7
4.7
0.5

r2.9
-0.7
r3.4
1.1

r2.9
4.1
r3.5
4.3

0.1
r1.0
r1.4
1.8

5.5
2.6
2.2
r4.9

r-1.2
1.3
r1.7
-5.6

3.0
2.1
2.0
1.0

ANNUAL

0.1

2.5

2.4

3.1

r0.2

3.0

1.1

2.3

I
II
III
IV

r2.3
r0.9
r0.2
r1.3

3.0
5.0
2.2
4.8

r0.6
r4.0
r2.0
r3.4

r3.3
r4.0
3.8
3.7

-0.1
r0.6
1.1
0.3

r0.9
3.1
r3.6
r2.3

r2.6
1.1
r-2.6
r-1.0

1.5
2.4
1.3
1.1

ANNUAL

1.0

3.0

2.0

3.8

0.8

2.8

-0.3

1.6

1997
I
r2.9
r7.0
r4.0
r5.0
r2.6
r2.1
r1.1
1.8
--------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
1995

1996

I
II
III
IV

r-0.1
0.2
r0.0
-0.1

3.7
2.2
2.4
1.6

3.8
2.0
2.3
1.7

2.1
r2.9
r3.3
3.7

r-0.8
-0.1
0.7
r1.0

r2.1
2.8
3.3
3.8

2.8
2.0
0.6
-1.0

2.4
2.5
2.3
2.0

ANNUAL

0.1

2.5

2.4

3.1

r0.2

3.0

1.1

2.3

I
II
III

1.1
1.0
r0.7

2.2
3.3
2.7

1.1
r2.3
1.9

3.8
3.8
3.9

1.0
r0.9
0.9

2.7
2.8
3.1

r0.0
-0.1
-1.2

1.7
1.7
1.6

IV

1.2

3.7

2.5

3.7

0.5

2.5

0.0

1.6

ANNUAL

1.0

3.0

2.0

3.8

0.8

2.8

-0.3

1.6

1997
I
r1.3
4.7
3.4
r4.2
r1.2
2.8
-0.4
1.7
--------------------------------------------------------------------------------------------------------See footnotes following Table 6.
June 18, 1997
r=revised
Source: Bureau of Labor Statistics

Table 2. Nonfarm business sector:
and prices, seasonally adjusted

Productivity, hourly compensation, unit labor costs,

Real
Year
Output per
Hours
CompensacompensaUnit
Unit nonImplicit
and
hour of
of all
tion per
tion per
labor
labor pay- price
quarter
all persons Output
persons
hour (1)
hour (2)
costs
ments (3)
deflator (4)
--------------------------------------------------------------------------------------------------------Indexes 1992=100
1995

1996

I
II
III
IV

100.5
r100.8
r101.2
r100.9

109.0
109.2
110.6
110.7

r108.5
108.3
r109.3
r109.6

r106.1
r107.1
r108.1
r109.2

r98.6
r98.8
r99.2
r99.5

105.6
r106.2
106.8
108.1

108.2
108.5
r108.8
107.1

106.5
107.1
107.5
107.8

ANNUAL

r100.8

109.9

r109.0

r107.6

99.1

106.7

108.2

107.2

I
II
III
IV

101.5
r101.6
r101.5
r101.8

111.4
112.7
113.3
114.6

109.8
r111.0
r111.6
r112.6

r110.1
r111.1
r112.0
r113.1

99.6
r99.6
r99.8
r99.9

108.5
109.4
r110.4
111.0

107.4
r107.4
106.6
106.3

108.1
108.7
109.0
109.3

ANNUAL

r101.5

113.0

r111.3

r111.5

r99.7

109.8

106.9

108.8

1997
I
102.5
r116.6
r113.7
114.5
100.6
111.7
106.6
109.9
--------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
1995

1996

I
II
III
IV

-2.2
1.5
r1.5
r-1.0

0.6
0.9
5.0
0.4

r2.8
-0.6
r3.5
r1.4

2.9
4.0
r3.6
r4.1

r0.1
0.9
1.5
r1.6

r5.2
2.5
r2.1
5.2

r-0.6
r1.2
r1.1
-6.4

3.0
2.0
1.7
0.9

ANNUAL

r0.2

2.7

2.4

3.2

0.3

2.9

1.1

2.2

I
II
III
IV

r2.1
r0.4
r-0.2
r1.3

2.7
4.8
1.9
4.9

r0.7
r4.4
r2.1
r3.6

3.4
r3.7
r3.5
r3.7

0.1
r0.3
r0.8
r0.3

r1.3
3.3
r3.6
r2.4

r1.5
r-0.2
r-3.0
r-0.9

1.4
2.1
1.2
1.2

ANNUAL

0.7

2.9

2.2

3.6

0.7

2.9

-1.1

1.5

1997
I
r2.6
r7.0
r4.2
r5.2
r2.8
r2.5
r1.2
2.0
--------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
1995

1996

I
II
III
IV

0.2
0.3
0.3
-0.1

3.9
2.4
2.6
1.7

3.7
2.1
2.3
1.8

2.3
3.0
r3.4
r3.6

r-0.6
r-0.1
0.8
1.0

2.1
2.7
r3.2
3.7

r3.3
2.1
0.4
-1.2

2.5
2.5
2.2
1.9

ANNUAL

r0.2

2.7

2.4

3.2

0.3

2.9

1.1

2.2

I
II
III
IV

1.0
r0.7
0.3
0.9

2.2
3.2
2.4
3.6

1.2
r2.5
2.1
2.7

3.8
r3.7
3.7
3.6

1.0
r0.8
0.7
0.4

r2.7
3.0
3.3
2.6

r-0.7
-1.1
r-2.1
-0.7

1.5
1.5
1.4
1.5

ANNUAL

0.7

2.9

2.2

3.6

0.7

2.9

-1.1

1.5

1997
I
r1.0
4.6
3.6
r4.0
r1.0
r3.0
r-0.8
1.6
--------------------------------------------------------------------------------------------------------See footnotes following Table 6.
June 18, 1997
r=revised
Source: Bureau of Labor Statistics

Table 3. Manufacturing sector:
seasonally adjusted

Productivity, hourly compensation, and unit labor costs,

Real
Year
Output per
Hours
CompensacompensaUnit
and
hour of
of all
tion per
tion per
labor
quarter
all persons
Output
persons
hour (1)
hour (2)
costs
-------------------------------------------------------------------------------------------------Indexes 1992=100
1995

1996

I
II
III
IV

r107.3
108.2
r109.3
r109.8

112.9
112.6
113.3
113.6

r105.2
104.0
r103.6
r103.4

r107.3
108.4
r109.4
r110.3

99.7
r99.9
r100.4
r100.6

r99.9
r100.1
100.1
100.4

ANNUAL

r108.7

113.1

r104.1

r108.8

r100.2

100.2

I
II
III
IV

r110.9
r111.5
r113.0
r114.0

113.9
115.6
117.0
118.3

r102.7
r103.7
r103.6
r103.7

r110.1
r111.8
r113.0
r113.7

r99.6
r100.3
r100.6
r100.5

r99.3
r100.2
100.0
r99.7

ANNUAL

r112.2

116.2

r103.5

r112.0

r100.1

99.8

1997
I
r114.8
r119.9
r104.4
r114.9
r101.0
r100.1
-------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
1995

1996

I
II
III
IV

r3.6
r3.3
r4.2
r1.7

4.2
-1.4
2.6
1.0

r0.6
r-4.5
r-1.5
r-0.7

r3.4
4.3
r4.0
r3.1

r0.6
r1.1
r1.8
r0.6

r-0.2
r0.9
-0.2
r1.4

ANNUAL

r3.2

3.5

r0.3

r3.5

r0.7

0.3

I
II
III
IV

r4.0
r2.4
r5.5
r3.7

1.1
6.3
5.0
4.3

r-2.7
r3.8
r-0.5
r0.6

r-0.6
r6.2
r4.2
r2.6

r-3.8
r2.7
r1.5
r-0.7

r-4.4
r3.7
-1.2
r-1.1

ANNUAL

r3.3

2.7

r-0.5

r2.9

r-0.1

r-0.4

1997
I
r2.8
r5.6
r2.8
r4.4
2.0
r1.6
-------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
1995

1996

I
II
III
IV

3.1
2.7
r3.3
r3.2

6.0
3.6
3.0
1.6

2.8
r0.9
r-0.3
r-1.6

2.7
3.5
r3.7
r3.7

-0.2
0.4
r1.0
r1.0

-0.4
r0.7
0.3
0.5

ANNUAL

r3.2

3.5

r0.3

r3.5

r0.7

0.3

I
II
III
IV

r3.3
r3.1
r3.4
r3.9

0.8
2.7
3.3
4.1

r-2.4
r-0.3
r-0.1
r0.3

r2.7
r3.2
r3.2
r3.1

r-0.1
r0.3
r0.2
r-0.1

-0.6
0.1
-0.1
r-0.8

ANNUAL

r3.3

2.7

r-0.5

r2.9

r-0.1

r-0.4

1997
I
r3.6
r5.3
1.7
4.4
1.4
r0.7
-------------------------------------------------------------------------------------------------See footnotes following Table 6.
June 18, 1997
r=revised
Source: Bureau of Labor Statistics

Table 4. Durable manufacturing sector:
seasonally adjusted

Productivity, hourly compensation, and unit labor costs,

Real
Year
Output per
Hours
CompensacompensaUnit
and
hour of
of all
tion per
tion per
labor
quarter
all persons
Output
persons
hour (1)
hour (2)
costs
-------------------------------------------------------------------------------------------------Indexes 1992=100
1995

1996

I
II
III
IV

r110.5
r111.1
r112.7
r113.4

118.1
117.8
119.4
120.4

r106.9
r106.0
r106.0
r106.2

106.9
108.0
r109.2
r109.8

99.4
99.6
r100.2
r100.2

r96.8
r97.2
96.9
r96.9

ANNUAL

r111.9

118.9

r106.3

r108.5

r99.9

96.9

I
II
III
IV

r115.0
r116.2
r117.9
r118.6

121.5
124.6
126.4
127.3

r105.6
r107.2
r107.2
r107.4

r109.0
r111.0
r112.1
r112.5

r98.6
r99.6
r99.9
r99.4

r94.7
95.6
95.1
r94.9

ANNUAL

r116.8

124.9

r107.0

r111.0

r99.3

95.1

1997
I
r119.5
r129.9
r108.7
r113.9
r100.0
r95.3
-------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
1995

1996

I
II
III
IV

r6.1
r2.4
r5.6
r2.5

7.1
-1.1
5.5
3.5

r0.9
r-3.4
r-0.1
r0.9

3.2
r4.2
r4.4
r2.4

0.4
r1.1
r2.2
r-0.1

r-2.8
r1.8
r-1.2
r-0.1

ANNUAL

r4.2

5.5

r1.3

r3.4

r0.6

-0.7

I
II
III
IV

r6.0
r4.0
r6.2
r2.1

3.7
10.3
6.0
2.8

r-2.2
r6.1
r-0.2
r0.7

r-3.1
r7.7
r4.2
r1.4

r-6.2
r4.1
r1.5
r-1.9

r-8.6
r3.5
r-1.9
r-0.7

ANNUAL

r4.3

5.0

r0.7

r2.3

r-0.6

-1.9

1997
I
r3.3
r8.6
r5.2
r4.8
r2.4
r1.5
-------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
1995

1996

I
II
III
IV

4.2
3.6
r4.2
r4.2

8.0
5.6
5.0
3.7

3.7
1.9
r0.7
r-0.4

2.6
3.3
r3.6
r3.5

-0.3
0.3
r1.0
r0.9

-1.5
-0.3
-0.6
-0.6

ANNUAL

r4.2

5.5

r1.3

r3.4

r0.6

-0.7

I
II
III
IV

r4.1
r4.5
r4.7
r4.6

2.9
5.7
5.8
5.7

r-1.2
r1.2
r1.1
r1.1

r1.9
r2.8
r2.7
r2.5

r-0.8
r-0.1
r-0.3
r-0.7

-2.1
-1.7
-1.9
-2.0

ANNUAL

r4.3

5.0

r0.7

r2.3

r-0.6

-1.9

1997
I
r3.9
r6.9
r2.9
r4.5
r1.5
r0.6
-------------------------------------------------------------------------------------------------See footnotes following Table 6.
June 18, 1997
r=revised
Source: Bureau of Labor Statistics

Table 5. Nondurable manufacturing sector:
seasonally adjusted

Productivity, hourly compensation, and unit labor costs,

Real
Year
Output per
Hours
CompensacompensaUnit
and
hour of
of all
tion per
tion per
labor
quarter
all persons
Output
persons
hour (1)
hour (2)
costs
-------------------------------------------------------------------------------------------------Indexes 1992=100
1995

1996

I
II
III
IV

r104.5
r105.6
r106.4
r106.7

107.6
107.1
106.9
106.4

103.0
r101.4
r100.5
r99.7

r107.4
r108.5
r109.3
r110.3

99.8
r100.0
r100.3
r100.6

102.8
r102.7
r102.7
r103.4

ANNUAL

r105.8

107.0

r101.1

r108.9

r100.3

102.9

I
II
III
IV

r107.2
r107.4
r108.7
r110.1

105.9
106.3
107.3
108.8

r98.8
r99.0
r98.7
r98.8

r111.3
r112.2
r113.4
r114.7

r100.7
r100.7
r101.0
r101.4

r103.9
104.5
r104.4
r104.2

ANNUAL

r108.2

107.1

r99.0

r112.8

r100.8

104.2

1997
I
r111.0
109.5
r98.7
r115.6
r101.6
r104.2
-------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
1995

1996

I
II
III
IV

r0.7
r4.6
r3.0
r1.1

0.8
-1.7
-0.7
-1.9

r0.1
r-6.0
r-3.5
r-3.0

r3.5
r4.0
r3.1
r3.8

r0.7
r0.8
r0.9
r1.3

r2.8
r-0.6
r0.1
r2.7

ANNUAL

r2.3

1.2

r-1.1

r3.4

r0.6

1.1

I
II
III
IV

r1.7
r1.0
4.6
r5.5

-1.9
1.6
3.7
5.9

r-3.5
r0.5
-0.9
r0.4

r3.6
r3.4
r4.2
r4.6

r0.3
r0.0
r1.5
r1.2

r1.9
2.4
r-0.3
r-0.8

ANNUAL

r2.2

0.1

r-2.1

r3.6

r0.6

1.3

1997
I
r3.1
r2.5
r-0.6
r3.2
r0.8
r0.1
-------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
1995

1996

I
II
III
IV

2.0
1.8
r2.5
r2.3

3.6
1.2
0.7
-0.9

1.6
r-0.5
r-1.8
r-3.1

2.7
r3.4
r3.5
r3.6

-0.2
r0.4
r0.8
r1.0

r0.7
r1.6
0.9
r1.2

ANNUAL

r2.3

1.2

r-1.1

r3.4

r0.6

1.1

I
II
III
IV

r2.6
r1.7
r2.1
r3.2

-1.5
-0.7
0.3
2.3

r-4.0
r-2.4
r-1.7
r-0.9

r3.6
r3.5
r3.8
r4.0

r0.8
r0.6
r0.8
r0.8

1.0
1.8
r1.6
0.8

ANNUAL

r2.2

0.1

r-2.1

r3.6

r0.6

1.3

1997
I
r3.5
3.4
r-0.1
r3.9
r0.9
r0.3
-------------------------------------------------------------------------------------------------See footnotes following Table 6.
June 18, 1997
r=revised
Source: Bureau of Labor Statistics

Table 6. Nonfinancial corporations:
and prices, seasonally adjusted

Productivity, hourly compensation, unit labor costs, unit profits,

Output
Hourly
Real
Unit
Total
Unit
Implicit
Year
per allcompenhourly
Unit
nonunit
proprice
and
employee
Employee sation
compenlabor
labor
costs
fits
deflator
quarter
hour
Output hours
(1)
sation(2) costs
costs(6) (7)
(8)
(4)
---------------------------------------------------------------------------------------------------------Indexes 1992=100
1995

1996

I
II
III
IV

r101.7
r102.3
r103.5
r104.1

111.3
112.0
114.0
115.2

109.4
r109.5
r110.1
r110.6

r105.2
r106.2
r107.1
r108.2

r97.8
98.0
r98.3
r98.6

103.4
103.8
103.5
103.9

100.5
101.6
100.4
100.7

102.7
103.2
102.7
103.1

124.9
124.0
133.8
132.1

104.7
105.1
105.5
105.7

ANNUAL

103.0

113.1

r109.9

r106.7

98.3

103.7

100.8

102.9

128.8

105.3

I
II
III
IV

r104.5
r104.8
r105.8
r106.3

115.8
117.4
119.2
120.6

r110.9
r112.0
r112.6
r113.5

r108.9
r109.9
r111.0
r111.9

r98.5
r98.6
r98.9
r98.9

104.3
104.9
104.9
105.3

100.0
99.0
98.8
99.0

103.2
103.3
103.3
103.7

136.2
138.5
139.2
135.9

106.1
106.5
106.6
106.6

ANNUAL

r105.3

118.3

r112.3

r110.4

r98.7

104.8

99.2

103.4

137.5

106.5

1997
I
107.5
123.2
114.6
113.2
99.5
105.3
98.7
103.6
139.4
106.9
---------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5)
1995

1996

I
II
III
IV

-3.4
2.3
r4.6
2.5

-0.3
2.4
7.2
4.4

r3.2
0.2
r2.4
1.8

2.4
3.8
r3.5
r4.0

r-0.3
0.6
r1.3
r1.5

6.0
1.5
-1.1
1.4

7.5
4.4
-4.5
1.3

6.4
2.2
-2.0
1.4

-24.4
-2.9
35.7
-4.9

2.4
1.7
1.6
0.6

ANNUAL

0.4

3.5

r3.1

2.6

-0.2

2.2

1.2

1.9

0.5

1.8

I
II
III
IV

r1.4
r1.3
r3.9
1.7

2.2
5.6
6.1
5.0

r0.8
r4.3
r2.1
r3.2

r2.8
r3.7
r4.0
r3.3

r-0.5
r0.3
r1.3
-0.1

1.4
2.3
0.1
1.5

-2.9
-3.9
-1.0
1.2

0.3
0.7
-0.2
1.4

12.9
7.1
2.0
-9.4

1.7
1.4
0.1
0.1

ANNUAL

r2.3

4.5

r2.2

3.5

0.5

1.1

-1.6

0.4

6.8

1.1

1997
I
4.6
8.8
4.0
4.8
2.4
0.2
-1.3
-0.2
10.8
1.1
---------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year
1995

1996

I
II
III
IV

r-1.0
r-0.3
r1.1
1.5

3.7
2.9
3.9
3.4

r4.7
3.1
2.8
1.9

r1.4
r2.3
r3.0
r3.4

-1.4
r-0.7
0.4
0.8

2.4
2.6
1.9
1.9

-1.5
3.1
1.2
2.1

1.4
2.8
1.7
2.0

5.8
-4.2
2.4
-1.4

1.8
2.0
1.8
1.6

ANNUAL

0.4

3.5

r3.1

2.6

-0.2

2.2

1.2

1.9

0.5

1.8

I
II
III
IV

2.7
r2.4
2.3
2.1

4.0
4.8
4.6
4.7

1.3
r2.3
2.2
2.6

3.5
r3.5
r3.6
r3.4

r0.7
r0.6
r0.6
r0.2

0.8
1.0
1.3
1.3

-0.5
-2.5
-1.7
-1.7

0.5
0.1
0.6
0.6

9.0
11.7
4.1
2.8

1.4
1.3
1.0
0.8

ANNUAL

r2.3

4.5

r2.2

3.5

0.5

1.1

-1.6

0.4

6.8

1.1

1997
I
2.9
6.4
3.4
3.9
1.0
1.0
-1.3
0.4
2.3
0.7
---------------------------------------------------------------------------------------------------------See footnotes following Table 6.
June 18, 1997
r=revised
Source: Bureau of Labor Statistics

SOURCES: Output data are from the Bureau of Economic Analysis and the Census
Bureau of the U.S. Department of Commerce; the Bureau of Labor Statistics,
U.S. Department of Labor; and the Federal Reserve Board. Compensation and
hours data are from the Bureau of Labor Statistics 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 second revisions after an additional 60 days.

Footnotes, Tables 1-6
(1)

Wages and salaries of 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 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 output divided by the output index.

(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)

Unit nonlabor costs include capital consumption allowances, interest,
rental income of persons, and indirect taxes. For nonfinancial
corporations, rental income of persons is zero by definition.

(7)

Total unit costs are the sum of unit labor and nonlabor costs.

(8)

Unit profits include corporate profits with inventory valuation and
capital consumption adjustments.

Appendix table 1. Business sector: Productivity, hourly compensation, unit labor costs, and prices
Indexes 1992=100
Real
Output per
Hours
Compensacompensa- Unit
Unit nonImplicit
hour of
of all
tion per
tion per
labor
labor pay- price
Year
all persons Output
persons
hour (1)
hour (2)
costs
ments (3)
deflator (4)
------------------------------------------------------------------------------------------------------1947
33.7
21.9
65.1
6.8
42.8
20.2
18.5
19.6
1948
35.2
23.1
65.6
7.4
43.0
21.0
20.5
20.8
1949
36.0
22.8
63.4
7.5
44.1
20.8
20.3
20.6
1950
1951
1952
1953
1954

39.1
40.3
41.4
43.0
43.9

25.1
26.7
27.5
28.8
28.4

64.2
66.2
66.3
67.0
64.7

8.0
8.8
9.4
10.0
10.3

46.8
47.5
49.6
52.4
53.8

20.6
21.9
22.6
23.2
23.5

21.4
23.5
22.9
22.4
22.4

20.8
22.4
22.7
22.9
23.1

1955
1956
1957
1958
1959

45.8
45.8
47.2
48.5
50.5

30.7
31.2
31.7
31.0
33.7

67.1
68.1
67.1
64.0
66.7

10.6
11.3
12.0
12.6
13.1

55.4
58.2
60.0
61.0
63.1

23.1
24.6
25.5
25.9
25.9

23.8
23.2
23.9
24.5
25.0

23.4
24.1
24.9
25.4
25.6

1960
1961
1962
1963
1964

51.4
53.2
55.7
57.9
60.5

34.3
34.9
37.2
38.9
41.4

66.7
65.7
66.8
67.2
68.3

13.6
14.2
14.8
15.4
16.2

64.7
66.6
68.9
70.5
73.2

26.6
26.7
26.6
26.6
26.7

24.6
25.0
25.7
26.3
26.8

25.8
26.1
26.3
26.5
26.8

1965
1966
1967
1968
1969

62.7
65.2
66.6
68.9
69.2

44.2
47.2
48.1
50.5
52.0

70.6
72.5
72.3
73.3
75.2

16.8
17.9
18.9
20.5
21.9

74.8
77.5
79.5
82.5
83.7

26.8
27.5
28.4
29.7
31.7

28.0
28.6
29.2
30.0
30.0

27.2
27.9
28.7
29.8
31.1

1970
1971
1972
1973
1974

70.5
73.6
76.0
78.4
77.1

52.0
54.0
57.6
61.6
60.6

73.7
73.3
75.7
78.5
78.6

23.6
25.1
26.7
29.0
31.8

85.4
87.0
89.6
91.6
90.5

33.5
34.1
35.1
37.0
41.3

30.6
33.4
34.8
36.6
38.6

32.4
33.9
35.0
36.8
40.3

1975
1976
1977
1978
1979

79.8
82.5
83.9
84.9
84.5

60.0
64.0
67.6
71.7
73.9

75.2
77.6
80.6
84.5
87.4

35.1
38.2
41.2
44.8
49.2

91.5
94.1
95.3
96.5
95.0

44.0
46.2
49.0
52.8
58.2

44.5
47.1
50.0
53.3
56.5

44.2
46.5
49.4
53.0
57.6

1980
1981
1982
1983
1984

84.2
85.7
85.3
88.0
90.2

73.0
74.8
72.5
76.1
82.5

86.6
87.2
85.0
86.5
91.5

54.5
59.6
64.1
66.7
69.6

92.7
92.0
93.1
94.0
94.0

64.7
69.5
75.1
75.8
77.2

59.6
67.1
68.3
74.6
78.5

62.8
68.7
72.7
75.4
77.7

1985
1986
1987
1988
1989

91.7
94.0
94.0
94.6
95.4

85.7
88.5
91.1
94.6
97.8

93.5
94.1
97.0
100.0
102.5

73.0
76.8
79.8
83.5
85.8

95.2
98.3
98.5
99.0
97.1

79.7
81.7
84.9
88.2
89.9

80.5
81.7
81.9
84.1
91.3

80.0
81.7
83.8
86.8
90.4

1990
1991
1992
1993
1994

96.1
96.7
100.0
100.1
100.6

98.6
96.9
100.0
102.7
107.0

102.6
100.2
100.0
102.5
106.3

90.7
95.1
100.0
102.5
104.5

97.4
97.9
100.0
99.5
98.9

94.4
98.3
100.0
102.3
103.8

93.5
96.6
100.0
102.8
106.4

94.1
97.7
100.0
102.5
104.8

1995
100.7
109.6
108.8
107.7
99.1
106.9
107.6
107.2
1996
101.7
112.9
111.0
111.7
99.9
109.9
107.2
108.9
------------------------------------------------------------------------------------------------------See footnotes following Table 6.
June 18, 1997
Source: Bureau of Labor Statistics

Appendix table 2. Nonfarm business sector:
Indexes 1992=100

Productivity, hourly compensation, unit labor costs, and prices

Real
Output per
Hours
Compensacompensa- Unit
Unit nonImplicit
hour of
of all
tion per
tion per
labor
labor pay- price
Year
all persons Output
persons
hour (1)
hour (2)
costs
ments (3)
deflator (4)
------------------------------------------------------------------------------------------------------1947
38.9
21.5
55.3
7.3
45.9
18.7
17.6
18.3
1948
39.9
22.5
56.3
7.9
46.1
19.8
19.1
19.6
1949
41.3
22.3
54.0
8.2
48.1
19.8
19.7
19.7
1950
1951
1952
1953
1954

44.2
45.3
46.1
47.2
48.1

24.6
26.4
27.2
28.4
28.0

55.7
58.3
58.9
60.3
58.2

8.7
9.4
9.9
10.5
10.9

50.4
50.8
52.7
55.2
56.7

19.6
20.8
21.6
22.3
22.6

20.6
22.1
21.9
21.9
22.1

20.0
21.3
21.7
22.1
22.4

1955
1956
1957
1958
1959

50.1
49.7
50.9
52.0
54.2

30.3
30.8
31.4
30.7
33.5

60.5
62.0
61.7
59.0
61.7

11.3
12.0
12.6
13.2
13.7

59.0
61.7
63.2
63.9
66.0

22.5
24.1
24.8
25.3
25.3

23.3
22.8
23.5
23.8
24.7

22.8
23.6
24.4
24.8
25.0

1960
1961
1962
1963
1964

54.8
56.5
59.1
61.2
63.8

34.0
34.7
37.0
38.7
41.3

62.0
61.3
62.6
63.3
64.8

14.3
14.8
15.4
15.9
16.7

67.7
69.3
71.5
73.0
75.4

26.1
26.1
26.0
26.0
26.1

24.0
24.5
25.3
25.9
26.6

25.3
25.6
25.8
26.0
26.3

1965
1966
1967
1968
1969

65.7
68.0
69.2
71.6
71.6

44.2
47.4
48.2
50.7
52.3

67.3
69.7
69.7
70.9
72.9

17.2
18.2
19.3
20.8
22.2

76.7
78.8
80.9
83.8
84.9

26.2
26.8
27.8
29.0
31.0

27.6
28.2
28.8
29.7
29.6

26.7
27.3
28.2
29.3
30.5

1970
1971
1972
1973
1974

72.6
75.6
78.2
80.7
79.4

52.1
54.1
57.8
62.0
61.1

71.8
71.5
73.9
76.9
77.0

23.8
25.4
27.0
29.2
32.1

86.1
87.8
90.6
92.3
91.3

32.8
33.5
34.5
36.2
40.4

30.3
33.0
34.0
34.3
36.7

31.9
33.3
34.3
35.5
39.1

1975
1976
1977
1978
1979

81.5
84.5
85.8
86.9
86.3

60.0
64.3
67.9
72.3
74.3

73.6
76.1
79.2
83.1
86.1

35.3
38.4
41.5
45.2
49.5

92.1
94.6
96.0
97.3
95.7

43.3
45.4
48.3
52.0
57.4

43.0
46.0
49.0
51.8
54.7

43.2
45.6
48.6
51.9
56.4

1980
1981
1982
1983
1984

86.0
86.9
86.3
89.9
91.4

73.4
74.8
72.4
76.8
82.8

85.4
86.1
83.9
85.5
90.6

54.8
60.1
64.6
67.3
70.1

93.3
92.8
93.9
94.8
94.7

63.8
69.2
74.8
74.9
76.7

58.6
65.6
67.4
74.3
77.4

61.9
67.9
72.2
74.7
77.0

1985
1986
1987
1988
1989

92.3
94.7
94.5
95.2
95.7

85.8
88.7
91.3
95.1
98.1

92.9
93.7
96.7
99.9
102.5

73.4
77.2
80.1
83.6
85.8

95.7
98.8
98.9
99.1
97.1

79.5
81.5
84.7
87.8
89.7

79.9
81.3
81.4
83.8
90.7

79.6
81.4
83.6
86.4
90.0

1990
1991
1992
1993
1994

96.2
96.9
100.0
100.1
100.6

98.8
97.1
100.0
102.9
107.0

102.7
100.2
100.0
102.8
106.4

90.6
95.1
100.0
102.2
104.3

97.3
97.9
100.0
99.2
98.7

94.1
98.1
100.0
102.1
103.7

93.2
96.8
100.0
103.4
107.0

93.8
97.6
100.0
102.5
104.9

1995
100.8
109.9
109.0
107.6
99.1
106.7
108.2
107.2
1996
101.5
113.0
111.3
111.5
99.7
109.8
106.9
108.8
------------------------------------------------------------------------------------------------------See footnotes following Table 6.
June 18, 1997
Source: Bureau of Labor Statistics

Appendix table 3. Nonfinancial corporations:
unit profits, and prices
Indexes 1992=100

Productivity, hourly compensation, unit labor costs,

Output
Hourly
Real
Unit
Total
Unit Implicit
per allcompenhourly
Unit
nonunit
pro- price
employee
Employee sation
compen-r
labor
labor
costs
fits deflator
Year
hour
Output hours
(1)
sation(2) costs
costs(6) (7)
(8)
(4)
-------------------------------------------------------------------------------------------------------1958
50.9
25.0
49.2
14.4
70.0
28.4
25.5
27.6
44.9
29.2
1959
53.5
27.9
52.2
15.0
72.2
28.0
24.5
27.1
52.4
29.4
1960
1961
1962
1963
1964

54.5
56.2
58.6
60.6
63.1

28.8
29.4
31.9
33.7
36.1

52.9
52.4
54.5
55.7
57.3

15.6
16.1
16.7
17.3
18.0

73.9
75.6
77.7
79.2
81.6

28.6
28.7
28.6
28.5
28.6

25.3
25.8
25.4
25.3
25.2

27.8
27.9
27.7
27.7
27.7

47.7
47.9
52.0
55.0
57.3

29.6
29.7
29.9
30.1
30.4

1965
1966
1967
1968
1969

64.5
65.5
66.4
68.7
68.7

39.1
41.8
42.9
45.6
47.4

60.6
63.9
64.6
66.4
69.0

18.5
19.5
20.6
22.2
23.7

82.6
84.6
86.6
89.4
90.5

28.7
29.8
31.0
32.3
34.5

25.1
25.1
26.6
28.4
30.6

27.8
28.6
29.9
31.3
33.5

61.8
61.5
57.6
57.5
51.7

30.9
31.6
32.4
33.6
35.1

1970
1971
1972
1973
1974

69.0
71.9
73.8
74.4
72.7

47.0
48.9
52.7
55.8
54.8

68.0
67.9
71.4
74.9
75.3

25.4
27.0
28.5
30.7
33.7

91.7
93.4
95.7
97.2
95.8

36.7
37.5
38.6
41.3
46.3

34.3
36.0
35.9
37.5
43.3

36.1
37.1
37.9
40.3
45.5

42.0
47.6
51.6
52.8
46.2

36.6
38.0
39.2
41.5
45.6

1975
1976
1977
1978
1979

75.5
78.1
80.1
80.8
79.4

53.9
58.3
62.6
66.7
68.2

71.4
74.6
78.1
82.6
85.9

37.0
40.1
43.3
47.0
51.4

96.6
99.0
100.2
101.2
99.3

49.0
51.4
54.0
58.2
64.7

48.9
48.8
50.4
53.8
59.8

49.0
50.7
53.1
57.1
63.4

61.0
68.7
75.4
78.0
73.0

50.1
52.4
55.1
59.0
64.3

1980
1981
1982
1983
1984

80.3
82.8
84.2
86.8
89.6

68.3
71.5
70.5
73.7
81.0

85.1
86.3
83.7
84.9
90.4

56.7
61.8
66.2
68.7
71.7

96.5
95.5
96.3
96.8
96.8

70.5
74.7
78.7
79.1
80.0

69.2
79.0
85.4
85.8
84.3

70.2
75.8
80.4
80.9
81.1

64.4
75.9
68.2
83.3
99.9

69.7
75.8
79.3
81.1
82.8

1985
1986
1987
1988
1989

91.0
93.7
95.1
96.7
95.4

84.2
86.9
91.1
95.9
97.5

92.5
92.7
95.8
99.2
102.2

74.9
78.7
81.6
84.8
86.9

97.7
100.8
100.7
100.6
98.4

82.3
84.0
85.7
87.7
91.1

85.2
87.5
87.5
89.7
96.3

83.1
84.9
86.2
88.2
92.5

97.8
88.0
95.9
103.8
96.0

84.4
85.2
87.1
89.6
92.8

1990
1991
1992
1993
1994

96.1
97.5
100.0
101.3
102.5

98.4
97.1
100.0
103.6
109.3

102.4
99.6
100.0
102.3
106.6

91.4
95.6
100.0
102.2
104.0

98.1
98.5
100.0
99.2
98.5

95.2
98.0
100.0
100.9
101.4

99.1
103.0
100.0
99.7
99.6

96.2
99.3
100.0
100.6
101.0

94.6
93.9
100.0
113.2
128.1

96.1
98.8
100.0
101.7
103.4

1995
103.0
113.1
109.9
106.7
98.3
103.7
100.8
102.9
128.8
105.3
1996
105.3
118.3
112.3
110.4
98.7
104.8
99.2
103.4
137.5
106.5
-------------------------------------------------------------------------------------------------------See footnotes following Table 6.
June 18, 1997
Source: Bureau of Labor Statistics