The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
News Bureau of Labor Statistics United States Department of Labor Washington, D.C. 20212 -2Table A. Productivity and costs: measures Produc* tivity USDL 83-40 For Release 10:00 AM EST Wednesday, January 26, 1983 Nonfarm business Manufacturing Durable Nondurable Productivity, as measured by output per hour of all 198t Output Hours Hourly hourly compen- compen- labor sation sation cost Percent change from preceding 4.1 2.7 0.4 0.9 Business FIODDCTIYITY Fourth Quarter and Annual Averages, 1982 fourth quarter and annual rates). Real Sector Historical, technical information: (202) 523-9261 Current data: (202) 523-1221 or 1208 Media contact: (202) 523-1913 preliminary (seasonally adjusted annual -2.5 -0.5 persons, increased at -3.8 -6.3 -10.1 -10.5 -15.3 -16.0 -2.5 -2.0 Percent change quarter 6.0 6.0 4.5 4.6 6.2 -6.4 Unit 3.3 3.3 1.9 2.0 3.5 from i same quarter a year 1.8 3.2 4.1 3.7 6.7 ago a 4.1 percent annual rate in the economy's business sector; 2.7 percent in the 2.0 1.9 1.5 1.0 2.0 Business nonfarm portion of the business sector; and 0.4 percent in manufacturing during Nonfarm business Manufacturing the fourth quarter of 1982, the Bureau of Labor Statistics of the U.S Department of Labor reported today. The increases in productivity were accompanied by Durable Nondurable -1.6 -3.5 -1.7 -3.5 -7.8 -9.1 -11.0 -11.9 -3.0 -4.9 6.6 6.6 7.4 7.5 8.2 2.0 2.0 2.8 2.9 3.5 4.5 4.6 5.8 6.5 6.0 Annual percent change, 1981 - 1982 declines in both output and hours in all sectors. For 1982 as a whole, productivity advanced slowly in the business and the gains also resulted from a larger reduction in hours than in output. In 0.4 0.2 Business Nonfarm nonfarm business sector, 0.4 percent and 0.2 percent, respectively, and these business Manufacturing Durable -2.3 -2.6 -2.5 -2.6 -7.9 -1.0 -8.9 -1.8 -11.2 -9.6 0.0 -5.3 -5.2 Nondurable 7.3 7.3 8.5 8.6 8.9 1.1 1.1 2.2 2.3 2.6 6.9 7.1 9.6 10.5 9.0 manufacturing, output per hour of all persons fell by 1.0 percent as cutbacks in hours for the year failed to keep pace with the decline in output. The fourth quarter gain in the business sector was the largest increase Table B. since the 5.6 percent gain during the first quarter of 1981. In the earlier case, however, output and hours were both rising. Nonfinancial corporations: tivity and cost measures, quarterly Percent Preliminary and revised Real and appear in detail in tables 1-5. In addition to productivity, the measures Item All measures are at seasonally adjusted annual rates. A revised estimate of the productivity of nonfinancial corporations shows no change from the preliminary third-quarter increase of 4.6 percent (annual rate). Revised measures for this sector are summarised in table B and appear in greater detail in table 6. Productivity include output, hours, hourly compensation, real hourly compensation, and unit previous year. produc- change All of these measures — w h i c h are preliminary— are summarized in table A labor cost, as changed from the previous quarter and the same quarter of the third-quarter change at seasonally adjusted annual rate. Output Hours Hourly hourly Unit compen- compen- labor Unit price sation sation cost profits deflator Implicit Preliminary 4.6 0.6 -3.8 5.9 -1.6 1.2 35.4 4.6 Revised 4.6 0.6 -3.8 5.9 -1.6 1.2 40.8 4.7 -3MOVEMENTS FROM THE THIRD TO FOURTH QUARTER 1982 Business sector The 4.1 percent productivity increase in the fourth quarter of 1982 in the business sector was higher than the 3.6 percent rise during the third quarter. The fourth quarter increase reflected a 2.5 percent drop in output coupled with a 6.4 percent decline in hours. Employment declined 3.9 percent — t h e fifth consecutive quarterly drop and the largest since the 4.3 percent decline in the second quarter of 1980. The length of the average work week declined 2.5 percent. Hourly compensation, which includes employer expenditures for wages and salaries as well as payments for social security, private pension and health plans, and other employee benefits, increased at a 6.0 percent annual rate, the smallest increase in this major cost item since the 5.0 percent gain recorded during the third quarter of 1972. During the third quarter of 1982, these cost rose 6.1 percent. Real hourly compensation, which is adjusted for the increase in the Consumer Price Index for All Urban Consumer's (CPI-U), increased 3.3 percent in the fourth quarter, compared with a 1.4 percent decline during the third quarter. Unit labor cost (compensation per unit of output) shows the effect of changes in hourly compensation and productivity. During the fourth quarter, unit labor cost rose 1.8 percent, the slowest rise in this measure since the 1.7 percent gain during the first quarter of 1977. During the third quarter of 1982, unit labor cost rose 2.4 percent. The implicit price deflator — w h i c h measures price change in a sector and reflects changes in unit labor cost and unit nonlabor p a y m e n t s — increased at a 3.5 percent annual rate in the fourth quarter, compared with a 4.4 percent increase during the third quarter. This was the smallest quarterly increase in the implicit price deflator since the 3.0 percent increase during the second quarter of 1976. Nonfarm busin Productivity advanced more slowly in the nonfarm business sector than in the more comprehensive business sector (which includes farming). The 2.7 percent gain in nonfarm output per hour of all persons reflects a 3.8 percent decline in output and a 6.3 percent reduction in hours (annual rates). The reduction in hours was the fifth in a row, and the largest since the 12.0 percent decline during the first quarter of 1975. During the third quarter of 1982, productivity increased 3.4 percent. Hourly compensation increased 6.0 percent in nonfarm business, the smallest quarterly gain in 10 years. In real terms, hourly compensation increased 3.3 percent in the fourth quarter, compared with a 0.9 percent decline during the third quarter of 1982. -4Unit labor cost increased 3.2 percent in the fourth quarter, compared with a 3.1 percent rise one quarter earlier. Although hourly compensation rose less in the fourth quarter, the increase in unit labor cost reflected a greater falloff of productivity growth. The implicit price deflator rose 5.1 percent in the nonfarra business sector, compared with a 4.9 percent rise during the third quarter (seasonally adjusted annual rates). Manufacturing Productivity increased by 0.4 percent in the fourth quarter in manufacturing, as output and hours declined 10.1 and 10.5 percent, respectively. Both output and hours have declined in each of the past 6 quarters, but productivity has gone up for the past 3 quarters because of the more rapid declines in hours. Hourly compensation increased at a 4.5 percent annual rate in the fourth quarter, the smallest increase in manufacturing since the 4.3 pecent gain posted during the second quarter of 1978. During the third quarter, hourly compensation rose 6.2 percent. Real hourly compensation increased 1.9 percent, compared with a 1.3 percent drop during the third quarter. Unit labor cost rose 4.1 percent, comapred with a 1.0 percent decline during the third quarter. The increase in manufacturing productivity was entirely due to gains in durables, where the cutbacks in output and hours were the most severe. Productivity rose in nondurables, and the reductions in output and hours were smaller (tables 4 and 5 ) . SUMMARY OF ANNUAL PRODUCTIVITY AND COST MOVEMENTS: 1982 Private Business Productivity Increased 0.4 percent in private business from 1981 to 1982, conpared with a 1.8 percent rise in 1981. The small advance In productivity occurred as output declined 2.3 percent and hours of all persons engaged in the sector fell 2.6 percent. Hourly compensation increased 7.3 percent in 1982, compared with a 9.6 percent gain during 1981. This was the snallest gain in hourly compensation in 10 years. After allowing for the increase in the CPI-L', real hourly compensation increased 1.1 percent in 1982. Real hourly compensation declined in 1979-1981. Unit labor cost increased 6.9 percent in 1982, compared with a 7.7 percent rise during 1981. Prices rose 5.5 percent in 1982, compared with a 9.5 percent increase during 1981. Nonfarm business Productivity edged up 0.2 percent from 1981 to 1982 in nonfarm business as output declined 2.5 percent and hours of all persons fell 2.6 percent. From -5- -6- 1980 to 1981, productivity rose 1.4 percent and both output and hours increased. Hourly compensation increased 7.3 percent in nonfarm business, the smallest annual rise since the 6.7 percent increase during 1972. Real hourly compensation rose for the first time since 1978, largely reflecting the slower growth in the CP1-U during 1982. The 1.1 percent gain in real hourly compensation was the largest advance since the 2.2 percent gain during 1976. Unit labor cost rose 7.1 percent during 1982, the smallest annual rise since the 5.2 percent gain in 1977. Prices of the goods and services which comprise nonfarm business output rose 5.9 percent in 1982, compared with a 9,7 percent increase during 1981. The 1982 increase was the smallest since the 5.7 percent gain in 1977. The manufacturing sector accounts for about 24 percent of business employment. During 1982, productivity in manufacturing declined 1.0 percent, as output dropped 8.9 percent and hours of all persons fell 7.9 percent. During 1981, productivity advanced 2.8 percent. Declines in output and hours occurred among both durable and nondurable goods manufacturers; productivity fell in durables and was unchanged from 1981 levels in nondurables. Hourly compensation rose 8.5 percent in all of manufacturing, and real hourly compensation increased 2.2 percent. Unit labor cost rose 9.6 percent, compared with a 7.2 percent rise during 1981. Table C contains annual changes in productivity, output, and hours since 1972. 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 0.6 5.5 4.9 -0. 9 2.3 3.2 -0. 7 -1. 5 -0. 7 1.8 2.5 0.7 0.4 -2.3 -2.6 PRIVATE BUSINESS Productivity Output Hours 3.5 6.6 3.0 2.6 6.6 3.9 -2. 4 -2. 0 0.4 2.2 -2. 0 -4. 1 3.3 6.4 3.0 2.4 6.6 4. 1 NONFARM BUSINESS Productivity Output Hours 3.7 6.9 3.1 2.4 6.8 4.3 -2. 5 -2. 1 0.5 2.0 -2. 2 -4. 1 3.2 6.7 3.4 2.2 6.7 4.4 0.6 5.7 5.0 -1. 3 2.2 3.5 -0. 9 -1. 5 -0. 7 1.4 2.2 0.7 0.2 -2. 5 -2. 6 2.5 6.9 4.2 0.9 5.3 4.4 0.7 2.7 2.0 0.2 -4. 3 -4. 5 2.8 2.3 -0. 5 -1. 0 -8. 9 MANUFACTURING Productivity Output Hours 5.0 9.6 4.3 5.4 11.2 5.5 -2.4 -4. 2 -1. 9 2.9 -7. 1 -9.7 4.4 9.6 4.9 -7.9 REVISED MEASURES The Bureau of Labor Statistics also reported revised measures for the third quarter of 1982 for the nonflnancial corporate sector. As can be seen from table B, the revised measures announced today show little change from the preliminary measures published on November 29, 1982. The durable sector includes the following 2-digit SIC industries: Primary metal; fabricated metal products; nonelectrical machinery; electrical machinery; transportation equipment; instruments; lumber and lumber products; furniture and fixtures; stone, clay, and glass products; and miscellaneous manufactures. The nondurable sector includes the following 2-digit SIC industries: Textile mill products; apparel products; leather and leather products; printing and publishing; chemicals and chemical products; petroleum products; rubber and plastic products; foods; and tobacco products. Manufacturing output has accounted for about 24 percent of gross national product in recent years. Annual changes in productivity, output, and hours. Measure Business sector output is equal to gross national product less the rest-of-theworld sector, general government, output of paid employees of private households and nonprofit institutions, rental value of owner-occupied dwellings, and the statistical discrepancy in computing the national income accounts. Corresponding exclusions are also made in employment. Business output has accounted for about 77 percent of gross national product in recent years. Total manufacturing measures are computed by summing series prepared for the durable and nondurable goods sectors. Manufacturing Table C. TECHNICAL NOTES Nonflnancial corporate output is equal to gross national product, less the restof-the-world sector, general government, unincorporated business, output of paid employees of private households and nonprofit institutions, rental value of owner-occupied dwellings, the output of corporations engaged in banking, finance, stock and commodity trading, and credit and insurance agencies, and the statistical dis- crepancy in computing the national income accounts. Nonfinancial corporate output has accounted for about 59 percent of gross national product in recent years. The productivity and associated cost measures in thl press release describe the relationship between output in real terms and th< labor time involved in its production. They show the changes from period t period in the amount of goods and services produced per hour. Although thes measures relate output to hours of all persons engaged in a sector, they do not measure the specific contributions 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. «. u. u. oc a. IX. U. U. a a a a. ac a. a. ac a. a. u m i " ! <l ir>utw-ti/-> Kl irt >. 0 Productivity Measures for Selected Industries, 1954-81 0 2. 3. 2. 1. 2. 13. 7 a. JNIT Bulletin 2155 O r- ^ p^ i--> -4 >* ~» t 0 f\ -* in il r> <t «r «•> V u i a x Z3 It IL. U U has been prepared by the Division of Industry Productivity Studies and i s This 2h6 page b u l l e t i n contains annual indexes of output per a. CO^^O1 O* O* O O O* 9P rz : Productivity Measures for Selected I n d u s t r i e s , 1951*-8l, BLS Bulletin 2155, 6 1 7R 5P •4 December 1982 nov available. 13. U. 13 11. : >. Bureau of Labor Statistics Janet L. Norwood. Commissioner 9 9 1 9 INIT U.S. Department of Labor Raymond J. Donovan, Secretary ac u. 3 : a. 3 O I l l OL O. >- a. a. a. a. :E a. a a a « ec • a. 1 : employee hour, output and employee hours for about I l 6 industries in the nonfarm sector. The indexes are available for most i n d u s t r i e s through 198l. a a O « </» ui *• a, <• Please c a l l Charles W. Ardolini, 202-523-92UU for additional information. BLS Bulletin 2155 can be ordered from the Superintendent of Documents, V- a L 0 . u> a. >. a. U. S. Government Printing Office, Washington, D. C. 20^02 (Stock No. 029-001-02731-1)• 0P0 Bookstores, or BLS Regional Offices l i s t e d below. Z < Make checks or money orders payable t o the Superin- x u Cy 0000 0 0000 0 3e ; 1 1 1 • 3a I 0000 CF a. 7 z «-» ac 0 3 2R ,2F L 0 0000 0 1 1 • REGION VI 1515 Broadway New York, N. Y. 10036 REGION H I 3535 Market Street P. 0. Box 13309 Philadelphia, Pa. 19101 Second Floor 555 Griffin Square Building Dallas, Tex. 75202 REGIONS VII AND VIII 911 Walnut Street Kansas City, Mo. 6Ul06 0 z ec "II a. ac UJ ZJ REGION -IV 1371 Peachtree S t r e e t , N.E. Atlanta, Ga. 30367 REGIONS IX AND X U50 Golden Gate Avenue Box 36017 San Francisco, Calif. 9^102 1 an a 1C6 O 1C8 a. 1C6. 1C6. 1C6 1C6 t 1C9. 1C9 1C9 1C7 L. Zl REGION II 1 3 <: 7 7 0 2 REGION V 9th Floor Federal Office Building 230 S. Dearborn Street Chicago, 111. 6060U 1 J a <n c tendent of Documents. REGION I 1603 .IF?: Federal Building Government Center Boston, Mass. 02203 a <. v% t t O> f TABLE 1 The price i s $7.50. 3 >- u n « eo ao •0 ao TABLE 2. NGNFARI" BUSINESS SECTOR/ ALL PERSONS: P P O D L C T U I T Y / COMPENSATION/ UNIT LAeOR COST/ AND PRICES/ SEASONALLY ADJUSTED YEAR AND QUARTER CLTPLT Pc* HOUR OF ALL PERSONS OLTPUT HOURS CF ALL PERSONS CC*PENSATICN PER HCURd) REAL COMPENSATION PER HCURC2) UNIT LA5CP COST LNIT NONLA 9 C F PAYMENTSC3) IMPLICIT P 3 IC£ DEFLATCS INDEXES 1977=1CC 1931 1932 I II III IV 1CC. 4 1CC. 0 100. 0 99. 1 1C9.2 1C9.C 1C9.1 1C7.1 138.5 100.C 109.1 108.1 139.5 142.0 145.1 147.7 96.C 96.C 95.4 95.3 139.0 141.9 145.1 149.0 131 .5 13 2.? 13d.7 138.4 136.5 138. $ 142.3 145.3 ANNUAL 99. 0 1C8.6 103.7 143.6 95.7 143.8 13 4.? 14C.E I II III IV 95. 2 99. 4 1G0. 1CC. 9P 1C6.0 1C6.1 1C6.3R 1C5.3P 106.8 106.7 106.C 104.3f 15C.4 152.7 155.1 157.4P 96.3 96.6 96.4 97. 2? 151.6 153.5 154.79 155.9P 136.7 137.2 14C.1R 143.2P 146. t ANNUAL 1CC. OP 1C5.9P 135.9P 154.OP 96.7P 153.9P 139.3P 149.CP U8.1 149.8 131.?F PERCENT CHANGE FRCP PREVIOUS CLARTER PI ANNUAL RATE(5) 1931 1982 I II III IV 4. Q -1. 3 -Q. 3 -3. 5 7.2 -0.3 0.3 -7.1 2.2 0.5 0.6 -3.7 11.8 7.1 9.C 7.3 G.4 0.1 -l.t -0.5 6.6 8.6 9.3 11.2 24.9 4.0 12.1 5.1 12.1 7.1 1C.2 9.2 ANNUAL 1 .4 2.2 0.7 9.7 -0.7 8.1 13.1 9.7 I II III IV 0. 6 0. 0 3. 4R 2. ?F -4.2 C.6 C.7R -3.8* -4.7 -0.1 -2.7 -6.3P 7.7 6.1 6.6 6.OP 4.3 1.4 -0.9 3.3P 7.1 5.2 3.1R 3.2* -4.6 1 .3 S.9R 9.2P 3.3 4.C 4.9P 5.1F ANNUAL 0. 2P -2.5P -2.6P 7.3P 1.1P 7.1P 3.4F 5.9P PERCENT CHANGE FRCf CCPRESPCNC ING CLAFTER OF F F EVICUS YEAR(6) 1981 1. 7 2.,5 1 . ,6 ,1 1.2 4.2 3.6 -0.2 -0.4 1.6 2.C -0.1 1C.6 9.8 9.4 -0.6 O.C -1.2 -0.6 8.8 7.1 7.7 8.9 14.1 13.S 13.6 11.2 10.4 9.2 9.6 9.6 1 .4 2.2 0.7 9.7 -0.7 8.1 13.1 9.7 I II III IV -1.,1 -0,,6 0.,3R 1,,*p -3.C -2.6 -2.5R -1.7P -1.9 -2.C -2.8 -3.5P 7.8 7.5 6.9 6.6 p 0.3 0.6 1.1 2.CP 9.0 8.2 6.6R 4.6P 4.0 3.3 2.6R 3.5P 7.4 6.6 5.3 4.3P ANNUAL 0.,2F -2.5F -2.6P 7.3P 1 .IP 7.1P 3.4P 5.9F I II III IV ANNUAL 1982 -c. SEE FOOTNOTES FOLLOWING TABLE 6. R=REVISED PsPRELIWINARY JAN. 26/ 1983 S C L R C E : 9 U P E A U CF L A S C R STATISTICS TA6LE 3. MANUFACTURING SECTCR: PRODUCTIVITY, C O M P E N S A T I O N / LNIT LA6CP C C S T , SEASONALLY ADJUSTED YEAR AND GLARTER CLTPUT PER HCLR CF ALL PERSONS OLTPUT (7) hCUSS Of ALL PE^SOKS CC^PENSATICNFER HCURd ) PEAL CCFPENSATICN PE% HCUPC2) UNIT LA5CR COST INDEXES 1977=1C0 1981 1982 I II III IV 105.2 105.0 105.0 102.8 1C6.7 1C7.5 1C7.4 1C2.C 101.5 102.4 102.3 ^9.2 142.6 144.9 147.3 15C.7 98.0 97.9 96.8 97.2 135.5 138.0 14C.3 146.6 ANNUAL 104.5 1C5.9 101.3 146.4 97.5 uc.o I II III IV 102.1 102.3 104.1R 1C4.3F 98.2 97.C 96.6 94. 1F 96.2 94.8 92.8 90.2P 154.7 157.6 16C.C 161.8P 99.0 99.7 99.4 99.9P 151 .5 154.0 153.6 155.2P ANNUAL 103.4F 96.5P 93.3P 15S.3P .7P 153.5P PERCEM 1981 I II III CHANGE FRCI" PPEVICLS CLARTER AT ANNUAL RATEC5) -0.3 -11.4 12.7 6.6 6.8 9.6 1.2 -C.4 -4*6 1.6 6.0 7.3 6.3 19.4 -0.5 1C.2 -0.2 7.2 -11.7 -5.9 -8.1 -10.5P 11.1 7.8 6.2 4.5P 7.6 3.1 13.9 -1.3 -1.0 -7.9P 6.5P 6.3 C.7 6.9 2.8 0.5 3.6 C.1 8.2 -0.4 -18.7 2.8 2.3 IV ANKUAL 2.4 0.8 7.3 1982 I II III IV ANNUAL 0.4P -13.8 -5.1 •1.5 -10.1P -1.0F 6.9 1.9P 4.1P 2.2P 9.6P PERCENT CHANGE FRCF CORRESPONDING CUAPTER OF FREVICUS YEAP(6) 1981 1982 I II III IV 2.6 4.5 4.7 -0.8 -1.C 5.8 7.5 -2.9 -3.5 1.2 2.7 -2.1 12.2 1C.7 8.9 8.9 C.3 C.9 1.7 C.6 5.9 4.0 9.8 ANNUAL 2.8 2.3 -0.5 1C.2 0.2 7.2 9.3 I II III IV -2.9 -2.5 -0.8 1.5P -8.C -9.8 -1C.C -7.S* -5.2 -7.4 -9.3 -9.IP 8.5 8.8 8.7 7.4P 1.0 1.8 2.7 2.8P 11.7 11.6 9.5 5.8P ANNUAL -I4OF -8.9P -7.9P 8.5P 2.2P 9.6P SEE FOOTNOTFS Si•\\ 1 'MJ T V T A B L E 4 . D U R A B L E I* A N U F A C T U * I N 6 S E C T O R : P R C C U C T I V I T Y , H C U R L Y COMPENSATION, L M T LA3CF CCST, SEASONALLY ADJUSTED(H) YEAR AND CLARTER CLTPUT PER HCLR OF A L L D E R S C N S HCUPS C F ALL ^E P S C N S OUTPUT (7) INCEXES 1 951 I II III IV ANNUAL 1932 I II I II IV ANNUAL 1982 102.6 14c. 5 97. 141.6 154 157 . 7 16C c 162 # 4 9 9. 1 99 . 8 154 . 156. 15c . 1 5*?. 7 qt . 5 96 # 5 r; 95 .2 94. 2 94 .7 ; 4. ? p CHANGE I II III IV 3.2 -C.7 -1.3 -3.0 £.C 4.5 -1 .6 -21.1 ANNUAL 3.2 2.5 I II III IV 4.9 -17.5 C.9 7.4 C.9P -6.4 -4.2 -15.3P ANNUAL -1 .SF -11 .2F PERCENT 1981 37 1C6. ' PERCENT 1982 103. 9 1 OC. r 1C3. 4 101. 0F CHANGE 12 . 1 £?.2^ .7F PR E V I C U S -0. 2 5. 7 7 G L A S T E* 99. 7 1 ?C .2P 99. 5' ANMUAL c.9 15C .5P RATE ( 5) 1.3 -1.2 -4.'5 2.9 4.3 6.5 6.3 2C.5 1C .9 -0.6 1C.5 C. 1 7.1 1C.3 7.7 7. 5P 4.6P 6.8 2.9 C.1 P 2. OP 15.9 6.7 C.1* 3.70 8.6P 2.3P 1C.5° -13.2 -7.2 -10.7 -16.CP FPCI* CC R R E S P O N D I N G Q U A R T E R -4.6 1.8 3.5 -2.6 12.7 11.0 9.C 9.1 ANNUAL 3.2 2.5 -C.6 1C.5 I II III IV 3.8 3.4 .7 -o. 1 4.2 -1 . 7 6.7 9.1 -3.2 1.0P -9.5 -12.C -12.6 -11.CP -6.C -8.9 -11.4 -11.9P -1.8P -11 .2P -9.6P SEE FOOTNOTES FOLLOWING TABLE 6. R-REVISEO 37 . 9 12 . S 5 .7 3.0 4.8 5.4 0.6 ANNUAL ^3 .2 155. I II III IV 1.3 UNIT LA5CR COST 1 37. C 1 3? 1 42. 0 143 . 7 1 "12.7 104. 9 G .40 T I C N PEP HCU° ( 1 ) 142. 7 144 .7 147. 2 151 . C 1C7. C 1C3.2 1C7.5 1C1.C 1C2. 7 10 2. REAL CCNPEN S A TICM ° E S h C L ^ (2 > SA- 1977-1CO 1L \ . : 10 4 . C 1C3.7 1: i . 5 10U. 10C. r r ft p c»\ OF FREVICUS 1 .3 1.1 -1 .6 -0.4 YEAfi(6) 9.5 5.9 3.4 9.7 7.1 6 .4 .9 9 .1 7.5 C.9 1.9 3.1 2.9P 12.7 12.7 1C.5 6.5P 8.6P 2.3P 1C.5P JAN. 26r 1 9 8 3 S C L R C E : B U R E A U OF L A 9 C P STATISTICS TABLE 5. NONDURABLE I* ANUF ACTU* ING SECTOR: PRC C UCT IVIT Y , HCURLY COMPENSATION, L M T LA3CF COST, SEASONALLY ADJUSTED(12) YEAR ANC QUARTER CLTPLT PER HOUR OF ALL PERSCNS OLTPUT (7) HOURS OF ALL PERSONS INDEXES 1981 1982 1982 REAL CCPPENSATICN PER f-CUR<2) UNIT LABCR COST 1977=1C0 I II III IV 106.7 106.5 107.0 104.6 1C6.4 1C6.5 1C6.9 1C2.6 99.7 99.9 99.8 98.1 141.3 144.4 146.7 149.6 97.5 97.7 96.5 96.5 132.9 135.6 137.1 143.1 ANNUAL 106.2 1C5.C 99.4 145.6 97.0 137.1 I II III IV 104.9 105.1 106.8 106.7F 1C0.4 99.6 1CC.2 99.6P 95.7 94.8 93.S 93.3P 154.3 157.5 159.4 161.8P 93.3 99.7 99.1 99.9P 147.2 15C.0 149.2 151.7P ANNUAL 106.2F 1C0.CP 94.2P 158.6P 99.6P 149.4P PERCENT CHANGE 1981 COMPENSATION PER hCURd > 1.6 1.C I II III IV 3.5 0.7 1.8 8.8 -15.1 -0.4 -6.9 ANNUAL 2.2 1.9 -0.3 I II III IV 1.1 C.7 7.0 -8.3 -3.2 0.5P -2.5P -9.3 -3.9 -4.2 -2.CP O.OP -5.3P -5.2P ANNUAL 5.2 C.3 1.4 FROM PREVIOUS CLARTER AT ANNUAL 2.5 RATE(5) 7.6 6.5 1.2 0.6 -4.-8 C.3 9.0 8.3 4.6 18.5 9.6 -C.7 7.3 12.8 13.2 4.9R 6.2P 9.6 3.8 -2.5R 3.5P S.9P 2.6P 8.5 12.0 7.8 -2.0 6.7P 9. OP PERCENT CHANGE FRCI* CCR R ES POND ING QUARTER OF FREVICUS YEAP(6) 1981 1982 8.4 8.7 C.2 C.2 2.2 C.7 1C.0 -0.3 9.6 C.7 7.3 -4.C -5.2 -6.1 -4.9P £.8 9.1 1C.8 1C.6 8.7R 8.2P 1.3 2.1 2.7 2.OF -5.6 -6.5 -6.2 -3.CP O.OF -5.3F -5.2F 8.9P I II III IV 2.0 4.2 3.7 1.1 G.1 4.6 5.3 -1.8 -2.4 -1.2 ANNUAL 2.2 1.9 I II III IV 1.7 1.4 0.2 ANNUAL SEE FOOTNOTES FOLLOWING TABLE 6. R-REVISED 0.4 1.5 11.5 1C.0 5.4 5.6 4.5 8.8 3.5P t. OP 2.6P 9.OP TAaLE 6. NOKFI*!A*CIAL CC»PO*ATIC*S: PROCLCTIVITY, HOURLY COP»£NS AT ION CNIT IA3CR CCST, UNIT PROFITS, AND PFICES, SEASONALLY ADJUSTED YEAR AND QUARTER OtTPUT PEG ALLcl*FLOYEE HCUR OUTFLT EfPLCYEE HCLSLY REAL HOURS COWF?NSA- f-CURLY TICN CCKPEN<1> SATICN(2> UM T LA90R COST UNIT NONLABOP CCST(g) TOTAL UNIT COST (9) UMT PRCFITS IMPLICIT PRICE DEFLATOR INDEXES 1977=1C0 1932 I II III IV 1C2.3 1C2.2 1C2.2 1C1.6 111.C 111.1 111.5 199.4 108.5 10fi.8 109.1 107.7 139*6 141.9 144.8 147.7 96.C 96.C 95.2 95.3 136.5 138.9 141.7 145.4 149.* 153.1 159.6 138.3 141.7 144.7 149.1 104.7 98.8 105.2 97.6 134.5 136.S 14C.2 143.2 ANNUAL 1C2.0 110.7 105.5 143.5 95.6 140.6 151.4 143.4 101.6 138.0 I II III 1C1 .6 1C2.3 103.5 107.9 107.? 108. C 106.2 105.3 104.3 15C.7 153.0 155.2 96.5 96.8 96.4 148.3 149.5 150.0 161.6 166.C 168.3R 151.8 153.€ 154.8 143.4 86.1 82.3 89.6R 144.3 145.6 147.3R VICUS CLARTER AT ANNUAL R A T E ( 5 ) 1931 I II III IV 4.6 -0.4 C.2 -2.4 7.4 0.6 1.5 -7.5 2.6 1.0 1.2 -5.1 12.3 iIA 0.5 -0.1 -3.1 0.3 7.4 7.3 8.2 1C.9 8.C 18.5 9.6 17.8 -0.7 7.8 14.3 9.5 1.2 5.7 10.7 5.9* 7.4 5.4 2.5R 7.5 10.2 12.€ 79.5 -?C3 28.4 -25.9 12.3 7.1 1C.2 8.9 15.6 1C.0 6.2 ANNUAL 1982 I II III 1.7 C.3 2.7 4.6 2.4 C.7 9,6 8.4 t.2 5.9 -5.5 -3.1 -3.8 -5.2 -0.4 0.6 PERCENT CHANGE 1981 I II III IV 2.0 2.9 1.6 C.5 1.C 4.4 4.1 0.3 UAL 1.7 2.4 I -C.6 C.2 1.3 1982 II III -2.7 -3.C -3.2 FCCTKCTES FOLLOWING TA3LE 6. R=REVIS€D P*PRELI*INARY -1.C 1,5 2.4 -C.1 C.7 -2.2 -3.1 -4.4 5.C 1.6 -1 .6 FRCP C C R R E S P Q N D I N G QUARTER OF F R E V I C U S 1C.7 9.8 9.2 8.9 -39.4 -16.7 4C.3R 3.0 3.8 4.7R YEABC6) -0.5 O.C -1.4 -0.5 8.5 6.7 7.5 8.4 16.5 14.2 12.9 13.* 1C.6 8.7 8.9 9.8 14,9 2C.7 19.7 7.9 11.0 9.6 9.7 9.6 9.6 -0.7 7.8 14.3 9.5 15.6 1C.0 8.0 7.8 7.2 0.5 0.9 1.3 8.6 7.6 5.8 12.6 10.9 9.5P 9.7 8.5 7.C -17.8 -16.7 -14.8R 7.3 6.4 5.1R JAN. 26/ 1983 SCLRCE: ?tPEAii OF LABCP STATISTICS -14Footnotes, Tables 1-6 SOURCE: Output data from Bureau of Economic Analysis, U.S. Dapartment 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: Based on data covering the period from the first quarter of 1976 to the second quarter of 1982, the probability is 0.95 that the interval between -1.9 and 2.2 index points contains the revision of the index of productivity in the business sector from the first to the third quarterly publication of the estimate. (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) Wages and salaries of the employees plus employers' contributions for social insurance and private benefit plans. Except for nonfinancial corporations, where there are no self-employed, data also include an estimate of wages, salaries, and supplemental payments for the self-employed. Compensation per hour adjusted for changes in the Consumer Price Index for All Urban Consumers. Nonlabor payments include profits, depreciation, interest, rental income, and indirect taxes. Current dollar gross product divided by constant dollar gross product. Percent change compounded at annual rate from the original data rather than index numbers. Current quarter divided by comparable quarter a year ago. Quarterly measures adjusted to annual estimates of output (gross product originating) from the Bureau of Economic Analysis% U.S. Department of Commerce. Unit nonlabor cost includes depreciation, interest, and indirect taxes. Total unit; cost is the sum of labor and nonlabor costs. Unit profits include corporate profit and inventory valuation adjustment. The durable sector includes the following 2-digit SIC industries: Primary metal; fabricated metal products; nonelectrical machinery; electrical machinery; transportation equipment; instruments; lumber and lumber products; furniture and fixtures; stone, clay, and glass products; and miscellaneous manufactures. The nondurable sector includes the following 2-digit SIC industries: Textile mill products; apparel products; leather and leather products; printing and publishing; chemicals and chemical products; petroleum products; rubber and plastic products; foods; and tobacco products. .S. GOVERNMENT PRINTING OFFICE: 1983-381-806:33
@FedFRASER