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Bureau of Labor Statistics
L. J. Fulco
K.D. !layle
,-
United States
Department
of Labor
Washington, D.C. 20212
(201) 523 - 9261
(202) SH -1913
I!S DL 17 ..... 79
fOR RELf.A5£: 11:00 ~.M . fDT
Thuudny, M.ay 2b, 1977
(202) 3)3-1384
PRODUCTIVITY
k~
COSTS
Nonflnanoial Cor~ra~e Scctor
Firat Qua rter 1977
Productivit y In nonfinancial cornoration.
2.6 nercent In the
incrc . s~d
firs. q unnr< of 1911 a t " se.uon.ollv adjusted a nnual u a , t he HUTedu of Labor
Statistics of t he U.S .
D~p art~nt
of Labor r eport ed today .
The loerea •• reflected
25 . 7 pprcent Incru se in outnut and. 3 . 0 pucent in or eue in h<>t1TS of all ,""ployees.
includes all corpouUou
~nkl ,
. toc~
and
c~lty
be en reported earlier.
doln~
br oker!, a nd f inance and insur ance 00=08nles.
Increase~
co~oared
at an annual
with. 1.8 percent
r . t~
of 11.S
Incre.~e
p~rcent
productivity.
In the
One quar ter ea r lier.
Thh ".0 the Iargelt quarterly Incune 1n t he hourly compensa t ion
qunter of 19B.
Revi sed
See table A.
nonflnanclat corporat e .ector
fir s t quarter of 1977.
buslneu In the United Statu "lt h the exce ption of
dDC~
the first
Thh incruu In hourly tompenution. combined ,,1th tile <1u In
re .u lt~d
In a n 8 .7 percent inc r ease In unit l abo r coa t.
hourly co_nutton rou faoter In the firn quane<
~h&n durln~
Although
the fourth
~ua rt er
o[ 1976, unit l abor tOlt rOle le ," in the firlt qua rt e r (8 . 7 percent compared .. lth
9 . 2 percent In t he fourth quartet), o"lng pa rtly to t he [zst er rate of producti Vity
increase in the first
~ua rter.
Table
,.
Productivity and Co.u:
(Seasonally Adjusted)
hoducti-
Sector
vity
P~rcent C~n,cs
Hourly
Co .. "",nut Ion
~onflnanclal
~.,
1:01<
Labor
COSt
Fourth Quarte r 1976
Corporations
at ""nual Rate
flourly
Co .. penutlon
SuHnu .
Nonfar. Rusinn.
Konuf.cturin~
Ourabl.,
Nondurable
Nonfinancial
Corporations
.. ,
,.,
,.,
'.0
'-'
10.9
,.,
,.,
'.0
U
10.3
'.0
'.0
..,
'-'
-0.2
11.1
12.0
'-'
'-'
-2.8
11.4
14 . 6
'.0
'-'
11. 9
•••
'-'
,.,
11 . 5
,..
L'
..,
'-'
.. ,
Nonfal"ll Suslne . .
'-'
'.0
l'Ianufactur t ng
'-'
Durabl ..
'-'
Nondurable
'.0
..,
,..
'-'
'.0
'.0
,. ,
'-'
'-'
,. ,
'-,
'-'
'.0
,. 0
'-'
'-'
'-'
'.0
'-'
"
'-'
U
,. ,
Fiut Quarter 1976
Hut Quarter 1977
PRE!.L'HS,\RY
Priva t " SUsiD"'"
Hours
fiut Qwtrter 1971
"
p~f.LL'lrAARY
RI\'lSED
Prlv"t~
Output
REViSED
..
,.,
'-'
,
,..
,. ,
L'
,.,
,
..
'-'
• .0
o.•
hal coe.pensuton ne r hour--I>oudy co .. pensatlo"
adju~ tcd
Consumer Price lndex-inneued . t an . nnud r a t. of 3.2
the
bi~~est
~uartuly
perc~nt
ror
ch~n~u
th~_
in
in the ftu, qua nu.
incnue i n a yen .
Unit profits declined 8.1 pucent during the ftr5t ouanu. co.maud "ith a
24.~
percMt drop in the
profits . . wdl u
precedtn ~
~nlt
quuter.
1'O,,,,labor
p~"",en . . >
all "ther no"labor co.u,decr u.M 0.2 percent in the flro,
quarter,compared "tth .. 1.3 pucent drop dudnll
th~
fourth qu.,..t ...
cos • • -- tncludinR unit labor c"o', unit nonla boe costs, and unit
com~red
7.1 percent In the fir s t quarter.
cedin~
"'''\ch Includ e
Tot~l
uni t
p.o f!t~ __ increa.ed
wtth .. 9 . ) percent inc rea se in t he pre-
ouartu .
Revised M.... . urn
RevbM mea suns of hbor
pro~uctlvlty
and r elated serlu for the flut
q .... rte r for the buoln en sector, neDra,.., huslne80 .ecto •• and
do" releued today.
See table B.
""'''ufa'''urln~
"ore
The revised ... u~u • • 110" that pr"cuctlvltv--
.t annu.ol ut es --Inoreued 4.1 percent In the Htvat e bu.lneu sector and 4.1
In the 1'O"nfn.. bu.ln.,.. uetor and declined 0.2 pertent in .... nuhcturln~.
tively, based on pull .. l .... ry Info ..... tlon .
Thue
As ah""" In table C. th"- larfe_.t revisions
in the flrat quarte r .. e a.ure. occur r ed In the output seri es
of Economic Anal y s i . of the V.S. Departmen t of Commerce .
?~rcen.
c,,~plled
by the Bureau
•
T. blo B.
Prell. lna .y and Revised 'I r .t Quarter
qua rt e rly Change at Annaal Rate
Sea s onally
~easure .
of Productivit y and Co s ts
Adju~ted
~
Private )"slne •• Se ctor
NOnfarm Su. tne • •
~cc tor
tUnu f &"turing
~u . u< e
..
., . u ,
Out p,,'
.... l1.1OI ..... y
00"'
..
pe r ao n•
Co"'pensetion
~ o,
,
Unit labor con
..
Real "ooope n"tion
000'
,
Ou tput
Hou r s
'"
10.1
'-'
..
..,
,..
,
hvhe d
..,
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10.9
,
'"'
'.0
..,
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Re vlud
Pre limln . ry · Revl sed
,
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10 . ]
Il. I
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L.
'. 0
'"
..,
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•••
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The p r oductivity and con urlu for the nonfinancial cor!'<'ute sector
released today I>a.e:~.:~~~:,~_::.:.:o:,~.:.~.:,:_::,:,:.~~~~"i,~.;"~,~;.;":.:,:.ge "",cUr hour.
the
an
for the pulod beglj!,ung-tn
thi r d quartH
The effect o f new data,
inaoduced In tlte private budn ... . . ec t o r in february, can be see
~
C.
table C. Quarterly Percent Chan~e in Produotivity end Related
Annual Rate. Seasonally Adjua ted
Nonfinancial Corporation.
Yur and Qu""er
I
, .n
,.,
Output
employee
Pr ~ l1",
00.'
~ev'
.'"<1
m
"
197 6
,
U
m
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I
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- il. 9
1975
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Compenutioo
Pnltm. I Re>< 18ed
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FOOTNOTES,
T~BLES
1 TO
~
SOUFCE: OUtput dU." !roo> tne Buruu of Eton.".ic ~naly.h, u.s.
of ~~rce "nd th~ Feder" l Re.erv~ Board . C~pensation
and houn clata ir01ll the Bure.au of Labor StattsUCI, U.S. DepHtrnent
of Labor a ncl the Bureau of Economic ~naly.i ••
Dep~rt~nt
(l)
Wa~es and .... Lariu of ... ployeu pI" . . . . ployer.' contribution.
for social in. uranee and prlvHe benefit pbM. hcent for
nonUnaneid corpoutlono, "h ere there are nO ulf-employed,
d"ta also includu "n estimllte of " "11"-5 , .... Laries, a..::l 5upple~ental payment. for the .elf-omployed.
(2)
Compen.ation per hour adjusted for changel in the Consumer Price
Index.
(3)
Nonl abor payment. include profit", depreci8tion, interest, rental
ineome "..::I indirect taxes.
(4)
Current dollar
product .
(5)
Percent change compounded "t annaaI rate from original data
rather than In~"" n ..... ~eu.
(6)
Current quarter divided by comparable 'I""reer a yur a~o.
(7)
Quarterly "eUurn adju.ted to an", .. l u t aateo of output (gross
product or1ginaUO$I) froat the Bureo" of Economic Analysis , U.s.
Dep8rtment of C""""eree .
(8)
Unit nonlabor eOlts include depreciation, intHut, and indirect
taxu .
(9)
Tqtd unit coats 18 the Sum of labor "..::I non-labor cosu.
~«>n
product divided by coutant dollar gross
(10)
Unit proUtl incLude corporate profit s I nd inventory valuation
ad.lu s<ment .
(Ll)
The durabL~ sector include. the foLleving 2-di~lt SIC industries:
pr~ry ~etal; fabrIcated metal product .; nonelectrical machinery;
electrical ~1Ch1nery; transportation ~quipment: in. . ruments; lumber
and lumbH produc"; cby, glus, a nd s tone product.: furnIture "nd
fb:turu; and .. loc"llaneou s ..... nufactures.
(12)
The no..::lurabLe Sectcr includu the follevlng·2-dl g it SIC Indu~triu:
textil e mUI products; app.arel products; leather and leather products;
""per and pape r prnd"c"; print1n~ and pubIhhing; che:>lca 18 tlnd
ch ... 1cal products; petro leu," products; rubber 1 ..::1 ph o tic produc . . ;
fOOds; and tobacoo products.
1.
PRODUCTiV iT Y, HOURLY
UNi T COSTS ~NO PRICES
PRIV~ T E a US INESS SECTOR
[PE RCENT CH~NGE FROM PRE CEDIN G
CH~RT
COMPENS~ TIO N ,
DU~RTER
••
,
,
~T
~NNU~L
R~T E)
,•
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.
Utll T tlONt.RBOR PRTrlEtlTS · .. · .. · · .. t.. · .......... ;·· .. ·· .. ·
i
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•
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197Z
1973
.
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1975
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19 'l?
rlRT 26. 1911
"
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CH~RT
2. FRODUCTIVITY , HOURLY
COMFENSRTION . UNIT COSTS RND FRICES
NONf~RM SUSINESS SECTOR
(FE RCEN T CHRNGE F~OM PRECEDING
QURRTER RT RNNURl RRTE)
OUTPUT
-. ---
,
,
PE~
.. .... -.
-
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!"....... !f\.~<.j . . ;;
HOUR Of AL L
'1,
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,
,
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PE~S O NS
:
CO M
PENSATlON rER HOUR or ALL
~....... .
PE~SONS
:
~
10 . 3
,
,
,
--- . -.,--
UNIT
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\976
1977
nAT 26. \977
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3.
PRC DurTIYITY. HOU~LY
C OMPENS~T!ON . UNlT COSTS ~ND PRICES
NONFINAN CIRL CORPORRT IO N
S
[ PERCENT CHRNGE fROM SRME
OURRTER R YEAR AGO)
(H~RT
OUT pur
_ •• _ _ •••••
__ ___ • • __ ___ _ 0 _ ·
rE~
~ LL - EMr L orEE
_ . ____ • __ . -:-._ • • __ • •
,
,
MO UR
_ •••• _ ••• _ ••• • •• • •
;
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• •• •• ••••• • • •
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conr EN 5AT lUI' ~[R ALL EMPLOYEE HOU'!:
="J",,~";,,,,~,,+ ,;,,,"1+:'-,,;',,
, , i;,,;"'
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UNIT
NOtlLABOR PAYMENTS
-•••• +
--.:-•• -•• -•...• : .••.••..•..•. .:. •.••.••.•..•. ~ •..•..
:
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,
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:
,
:
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,
,
1971
,
,
,
1912
1973
1974
1975
,
,
,
,
--- . --.~- -- -.
1976
1977
n AY 26. 1977
,
CH!=IRT 4 .
UNI T COSTS. UNI T PROFITS !=INO PRICES
NONFINRNCI!=IL CORPOR!=ITJON S
[ PERCENT CH~NGE FROM SAME
O U ~RTER !=I YEAR AGO)
....... - ......... •
UNIT
l~!lOR
i
t
·········-···:· ··········· ·t·· ·········· ·
o
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'
I
UNI, NONl~aOR COST'
•••••.••.•••• ; •.•••• -••. --• .j •• -•••.••. -- .+....... --- t· :
:
:
:
.. --i-............ .
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:
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1972
·····f
L
1973
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1914
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1975
\916
1971
riAl 26. 1911
,
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