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News
Bureau of Labor Statistics
Lawrence Fulco
Kathryn Hoyle
(202) 523-9261
(202) 523-1913
United States
Department
of Labor
Washington, D.C. 20212
USDL 79-374
For Release: 10:0n A.M. EOT
Tuesday, May 29, 1979
PRODUCTIVITY AND COSTS
Nonfinancial Corporate Sector
F i r s t Quarter 1979
Productivity in nonfinancial corporations decreased 3.3 percent in the f i r s t quarter
of 1979 at a seasonally adjusted annual r a t e , the Bureau of Labor S t a t i s t i c s of the U.S.
Department of Labor reported today.
The decline reflected a 2.0 percent increase in output
and a 5.5 percent increase in hours of a l l employees.
This was the f i r s t quarterly decline
in p r o d u c t i v i t y since the f i r s t quarter of 1978 and the largest since the t h i r d quarter of
1974.
In the fourth quarter of 1978, p r o d u c t i v i t y increased 2.2 percent in this sector,
which includes a l l corporations doing business in the United States with the exception of
banks, stock and commodity brokers, and finance and insurance companies.
Revised f i r s t - q u a r t e r measures were also reported today for the private business,
nonfarm business, and manufacturing sectors.
The p r o d u c t i v i t y declines in each sector are
somewhat larger in the revised series than had been previously reported based on preliminary
measures.
A summary of these f i r s t - q u a r t e r measures appears in table A; d e t a i l s are given in
tables 1-6.
Table A. Productivity and Costs: Percent Change at Annual Rate
(Seasonally Adjusted)
Sector
Productivity
Hourly
Compensation
Unit
Labor
Cost
Real
Hourly
Compensation
Output
Hours
Fourth Quarter 1978 to F i r s t Quarter 1979
PRELIMINARY
Nonfinancial
corporations
-3.3
10.7
14.5
-0.2
2.0
5.5
REVISED
Private business
-4.6
11.1
16.4
0.1
0.5
5.3
Nonfarm business
-4.3
10.2
15.2
-0.7
1.2
5.7
Manufacturing
-3.2
9.8
13.5
-1.1
4.6
8.1
Durable
-5.2
9.8
15.8
-1.1
4.0
9.7
Nondurable
-0.2
9.3
9.5
-1.5
5.6
5.8
F i r s t Quarter 1978 to F i r s t Quarter 1979
PRELIMINARY
Nonfinancial
corporations
1.1
9.3
8.1
-0.5
6,6
5.4
REVISED
Private business
0.4
0.5
9.1
-0.2
5.2
4.8
Nonfarm business
0.4
9.3
8.9
-0.5
5.4
5.0
Manufacturing
4.2
9.3
4.8
-0.5
9.1
4-, 6
Durable
3.7
9.4
5.4
-0.4
10.7
6.7
Nondurable
5.1
8.5
3.2
-1.2
6.7
1.5
Although the productivity measures relate output to the hours of a l l persons engaged
in each sector, they do not measure the specific contributions of labor, c a p i t a l , or any other
single factor of production.
Rather, they r e f l e c t the j o i n t e f f e c t s of many influences,
including new technology, capital investment, the level of output, capacity u t i l i z a t i o n ,
energy use, and managerial s k i l l s , as well as the s k i l l s and e f f o r t s of the work force.
Compensation and costs
Hourly compensation, which includes wages, salaries, employer contributions to
employee benefit plans, and taxes, increased 10.7 percent in the first quarter (the largest
increase since the first quarter of last year when it increased 12.5 percent).
Real hourly
compensation--compensation per hour adjusted for changes in the Consumer Price Index for All
Urban Consumers--decreased 0.2 percent.
One quarter earlier, these measures increased 8.5
percent and declined 0.7 percent, respectively.
Unit labor cost, which is influenced by changes in productivity and hourly compensation,
increased 14.5 percent.
annual rate.
In the fourth quarter of 1978, these costs rose at a 6.1 percent
Unit nonlabor payments, on the other hand, declined 6.5 percent in the first
quarter.
Unit profits dropped at a 31.1 percent annual rate in the first quarter, compared
with a 23.8 percent increase in the fourth quarter of 1978.
Unit profits stood higher in
the fourth quarter of 1978 than in any other quarter covered by this series, which begins
in 1958.
The implicit price deflator, which shows the effect of changes in labor cost and
nonlabor payments combined, increased 7.2 percent in the first quarter, compared with a
6.8 percent increase in the closing quarter of 1978.
The implicit price deflator--and its
c o m p o n e n t s — a r e shown in table B from 1974 forward.
Compared with the first quarter of 1978, productivity increased 1.1 percent in nonfinancial corporations, hourly compensation increased 9.3 percent (but real hourly compensation declined 0.5 percent), and unit labor cost increased 8.1 percent.
a 6.6 percent rise while hours of all employees advanced 5.4 percent.
Output showed
Unit profits rose
19.6 percent over the period.
Revised measures
Revised first-quarter productivity and cost movements for the private business, nonfarm business, and manufacturing sectors were also released today.
Incorporating the most
recent measures of output and hours for these sectors, the revised series show somewhat
larger productivity declines--and larger gains in unit labor cost--than were reported
previously, based on preliminary data.
measures.
Table C compares the preliminary and revised
Table B.
Indexes of Price, Cost and Profits
Nonfinancial Corporations
(1967=100)
1974
1975
1976
1977
Measure
Implicit price deflator
IV
I
1978
II
III
IV
1979
I
140.2
154.9
163.2
172.8
174.5
176.3
178.6
183.0
186.4
189.5
192.8
152.6
165.9
172.0
182.0
182.5
185.6
191.5
192.6
196.2
198.6
204.7
Unit labor cost
148.8
158.6
166.5
177.9
178.5
181.9
188.5
190.2
194.0
196.9
203.7
Unit nonlabor cost
164.4
188.5
188.8
194.5
195.0
197.1
201.1
200.1
203.2
204.1
207.7
69.5
91.8
112.7
120.2
128.3
122.9
104.5
127.8
130.0
137.2
125.0
Total unit cost
Unit profits
1977
III
Table C
Preliminary and Revised First Quarter Measures of Productivity and Costs
Quarterly Change at Annual Rate
(Seasonally Adjusted)
Measure
Private Business Sector
Nonfami Business Sector
Manufacturing
Preliminary
Revised
Preliminary
Revised
Pre!iminary
Revised
Output per hour
of all persons
-4.5
-4.6
-4.2
-4.3
-2.8
-3.2
Compensation per
hour
11.1
11.1
10.2
10.2
10.0
9.8
I
tn
I
16.3
16.4
15.0
15.2
13.2
13.5
Real compensation
per hour
0.1
0.1
-0.7
-0.7
-0.9
-1.1
Output
0.3
0.5
1.0
1.2
5.2
4.6
Hours
5.0
5.3
5.4
5.7
8.3
8.1
Unit labor cost
TABLE 1. PRIVATE B U S I N t S S HECTOR. ALL PERSONS: PRODUCTIVITY,
HOURLY COMPENSATION, UNIT LABOH C O S T , AND P R I C E S , SEASONALLY ADJUSTED
YEAR AND
QUARTER
OUTPUT PER
HOUR
OF ALL PERSONS
OUTPUT
COMPFNSAN O N PER
'HOUR(I)
HOURS
OF ALL
PERSONS
INDEXES
1978
1979
1979
1979
UNIT NONLABOR PAYMENTSO)
IMPLICIT
PRICE
DEFLATOR
I
II
III
IV
117.7
iia.o
119.1
119.6
135.3
138.7
139.7
142.2
115.0
117.5
117.4
118.9
??5.3
??9.7
235.5
240.4
119.3
118.7
119.1
119.0
191.4
194.6
197.8
201.1
162.1
171.3
174.9
179.1
181.3
186.6
189.9
193.5
ANNUAL
118.6
139.0
117.2
?32.8
119.?
196.3
171.9
187.9
I
118.2
142.3
120.5R
246.8
119.n
208.8
176.7R
197.7
AT ANNUAL RATF. (5)
-0.5
17.4
6.8
6.7
6.8
-13.1
24.0
8.8
9.8
6.7
12.1
7.3
7.7
9.2
1.5
9.0
4.3
7.5
11.1
0.1
16.4R
-6.3R
9.1R
I
II
III
IV
-4.5
1.2
3.5
1.7
-0.6
10.5
3.0
7.2
9.2
-0.4
5.3
12.1
8.1
10.4
8.7
4.0
-1.9
AK/NUAL
0.3
4.4
4.1
0.5R
5.3R
I
-4.6R
4.0
PERCENT CHANGE
1978
UNIT
LABOR
COST
1967=100
PERCENT CHANGE FROM •'REVIOUS OUAPTER
1976
REAL
COMPENSATION PFR
H0UR(?)
FROM TORRFSPONDING
1.6
QUARTER OF PREVIOUS
YEAR(6)
I
II
III
IV
-0.2
0.5
0.1
0.4
3.7
4.6
4.1
4.9
3.9
4.1
4.0
4.5
8.5
9.1
9.3
9.8
1.8
1.8
I.?
0.7
8.8
8.5
9.2
9.3
1.1
4.4
4.P
6.7
6.3
7.2
7.7
8.5
ANNUAL
0.3
4.4
4.1
9.2
1.5
9.0
4.3
7.5
I
0.4
5.2
4.8P
9.5
-0.?
9.1R
9.0
9.1R
SEE FOOTNOTES FOLLOWING
RAREVISED
PSPRELIMINARY
TABLE 6.
MAY
SODHCE:
29,197'i
BUREAU
OF
LAHOP
STATISTICS
TABLE 2. NONFARM BUSINESS SECTOR. ALL PERSONS: PRODL.TT IVIT Y,
HOURLY COMPENSATION, UNIT LABUK COST. AND PRICES. SEASONALLY AOJUSYCO
YEAR AND
QUARTER
OUTPUT PER
HOUR
OF ALL PERSONS
OUTPUT
HOURS
OF ALL
PERSONS
COMPFNSA1 ION PER
HOUR(1)
INDEXES
REAL
COMPENSATION PFR
HOUR (?)
UNIT
LABOR
COST
UNIT NONLABOR PAYm e n t s (31
IMPLICIT
PRICE
CITFLATOR
1967=100
I
II
III
IV
115.5
116.0
116.7
117.2
136.1
139.8
140.6
143.0
117.8
120.5
120.S
122.0
221.5
225.9
231 .1
236.2
117.3
116.7
116.9
116.9
191.7
19*,7
198.1
201.5
159.2
;67.L
i n . 3
174.4
180.6
185.3
188.9
192.2
ANNUAL
116.4
139.9
120 .2
228.9
117.1
196.6
168.0
186.8
I
116.0
143.4
123.7R
242.0
116.7
208.7R
ITI.IR
195^8
1978
1979
PERCENT CHANGE
FROM PREVIOUS QUARTER
AT ANNUAL
SATE(5)
I
II
III
IV
-J.L
1.7
2.3
1.9
0.7
11.6
2.1
7.2
3.9
9.8
-0.2
5.1
12.2
8.2
9.6
9.1
4.0
-1.8
0.7
-0.1
15.7
6.4
7.1
7.0
-13.5
21.3
10.5
5.8
10.8
8.1
7.1
ANNUAL
0.5
4.7
4.?
9.3
1.5
S.8
3.3
7.0
1.2R
5.7R
10.2
-0.7
15.2R
-7J,3R
7.8R
1978
1979
I
-4.3R
PERCENT CHANGE
FROM CORRESPONDING
QUARTER
OF PREVIOUS
YEAR(6)
I
II
III
IV
-0.1
0.7
0.3
0.7
3.8
5.2
4.4
5.3
3.9
4.5
4.1
4.6
8.6
9.0
9.4
9.8
1.9
1.8
1.3
0.7
8.7
8.3
9.0
9.0
0.9
3.4
3.1
5.6
6.2
6.7
7.1
7.9
ANNUAL
0.5
4.7
4.2
9.3
1.5
8.8
3,3
7.0
I
0.4
5.4
5.0
9.3
-0.5
8.9R
7.5P
8.4
1978
1979
SEE FOOTNOTES FOLLOWING
R=REVISED
PSPRELIMINARY
TABLE 6.
MAY 29.1979
SOURCE: RUREAU OF LAROR STATISTICS
TABLE 3. NONFINANCIAU C0RP0H4TIONSi PHUOUCTIV I TY , HOURLY COMPENSATION
UNIT LABOR COST, UNIT PROFITS. AND KKJCES. SEASONALLY ADJUSTED
YEAR
AND
QUARTER
OUTPUT
PER ALLfcMPLOYEE
HOUR
REAL
EMPLOYEE
HOURLY
HOURLY
HOURS
COMPENSACOMPtNTION
SATION(«;)
(1)
OUTPUT
UNIT
LABOR
COST
UNIT
NONLABOR
COST(8)
TOTAL
UNIT
COST
(9)
UNIT
PROFITS
CO)
IMPLICIT
PRICE
DEFLATOR
INDEXES 19fi7=10U
1978
1979
I
II
III
IV
116.6
117.9
lis.2
118.9
143.6
148.8
149,3
152.3
123.1
126.2
126.3
128.1
219.R
224.?
229.3
234.1
116.3
115.8
116.0
115.8
1 88.5
190.2
194.0
196.9
201.1
200.1
203.2
2U4.1
191 .5
192.ft
196.2
198.6
104.5
127.8
130.0
137.2
178.6
183.0
186.4
189.5
ANNUAL
117.9
148.5
125.9
226.9
116.1
192.5
202.2
194.8
125.1
184.5
117.9P
153.OP
129.8P
240. IP
115.SH
203.7P
207.7P
204.7P
125.OP
19?.8P
I
PERCENT CHANGE FROM PREVIOUb QUARTER AT ANNUAL 1RATF(5)
1978
1979
1.3
2.2
0.0
15.2
l.B
8.1
2.5
10.
0.2
5.8
12.5
8.3
9.5
8.5
1.1
5.3
4.2
9.3
2.OP
5.5P
10.7P
I
II
III
IV
-2.6
ANNUAL
I
-3.3P
15.3
3.8
8.1
6.1
8.5
-2.0
6.3
1.7
13.6
2.3
7.7
5.0
-47.8
123.6
7.3
23.8
5.5
10.2
7.6
6.8
1 .5
8.?
3.9
7.1
4.1
6.8
-0.2K
14.5P
12.7P
-31.IP
4.3
-1.7
0.6
-0.7
7.4P
7.2P
PERCENT CHANGE FROM CORRESPOND I Nr, QUARTER OF PREVIOUS YEAR (ft)
1978
1979
0.8
1.4
0,6
1.3
4.5
5.9
4.9
6.0
3.7
4.4
4.3
4.7
8.9
9. !
9.4
9.7
2.2
1.8
1.2
(1.6
8.1
7.6
8.7
8.3
4.4
3.6
4.2
3.6
7.1
6.6
7.5
7.1
-4.0
6.4
1.3
11.6
6.1
6.5
6.8
7.5
ANNUAL
1.1
5.3
4.2
9.3
1 .5
8.?
3.9
7.1
4.1
6.8
I
I.IP
6.6P
5.4P
9.3P
8. IP
3.3P
ft.9P
I
II
III
IV
SEE FOOTNOTES FOLLOWING TABLE 6.
R=REVISED
PSPRELIMINAKY
-0.5H
19.6P
8.OP
MAY 2 9 . 1 9 7 9
SOURCE: RUREAU OF LABOR
STATISTICS
TABLE
M A N U F A C T U R I N G S E C T O R : H R O D U C T I V I T Y • HOURLY
C O M P E N S A T I O N , UNIT LABOR COST» S E A S O N A L L Y AOJUSTED
YEAR AND
QUARTER
OUTPUT PER
HOUR
OF ALL P E R S O N S
OUTPUT
(7)
HOURS
OF ALL
PERSONS
INDEXES
1978
1979
1979
1979
1967= LOU
125.9
128.4
131.7
132.3
129.7
134.1
137.2
139.9
103.1
104.5
104.2
105.7
225.0
229.1
234.9
240.2
119.1
118.4
118.9
118.9
178.8
178.5
178.4
181.6
ANNUAL
129.2
134.8
104.4
232.5
119.0
179.9
131.2R
141.5R
107.8R
245.9R
118.6
187.5R
I
CHANGE FROM P R E V I O U S QUARTER
AT ANNUAL
RATE(5)
I
II
III
IV
-5.1
8.3
10.8
1.7
-0.5
14.3
9.6
8.0
4.9
5.6
-1.1
6.2
11.6
7.4
10.6
9.3
3.5
-2.5
1.6
0.1
17.7
-0.8
-0.2
7.5
ANNUAL
2.5
6.3
3.7
9.5
1.8
6.9
4.6R
8,1R
9.ER
-I.IR
13.5R
I
-3.2H
PERCENT
1978
UNIT
LABOR
COST
1
II
III
IV
PERCENT
1978
REAL
COMPENSATION PER
HOUR(2)
COMPENSATION PER
HOUR(L)
CHANGE FROM C O R R T S P U N D I N G
QUARTER OF
P R E V I O U S YEAR(6)
I
II
III
IV
1.8
2.2
3.2
3.7
5.8
6.0
6.7
7.7
4.0
3.7
3.4
3.9
9.4
9.2
9.6
9.7
2.7
2.0
1.4
0.7
7.6
6.9
6.2
5.8
ANNUAL
2.5
6.3
3.7
9.5
1.8
6.9
4.2R
9.1H
4.6R
9.3
-0.5R
4.8
1
SEE F O O T N O T E S F O L L O W I N G
RSREVISED
P=PRELIMINARY
TABLE
6.
SOURCES
MAY 2 9 , 1 9 7 9
B U R E A U OF LABOR
STATISTICS
TABLE 5. DURABLE MANUFACTURING SECTOR: PRODUCT IVITY» HOURLY
COMPENSATION, UNIT LABOR COST, SEASONALLY ADJUSTED(ll)
YEAR AND
QUARTER
OUTPUT PER
HOUR
OF ALL PERSONS
OUTPUT
(7)
HOURS
OF ALL
PERSONS
INDEXES
1978
1979
1979
1979
UNIT
LABOR
COST
1967=100
119.4
122.7
125.7
125.5
124.4
129.5
133.5
136.3
104.1
105.6
106.2
108.6
227.0
231.2
237.0
242.5
120.2
119.4
119.9
120.0
190.1
188.4
188.5
193.2
ANNUAL
123.0
130.5
106.1
234.6
120.1
190.8
123.9R
137.7R
lll.lR
248.2R
119.7R
200.4R
I
CHANGE FROM PREVIOUS QUARTER AT ANNUAL RATE(5)
I
II
III
IV
-6.8
11.3
10.2
-0.5
-1.5
17.7
12.8
8.8
5.7
5.7
2.3
9.4
10.4
7.5
10.4
9.7
2.4
-2.4
1.5
0.4
18,5
-3.4
0,2
10.2
ANNUAL
2.1
7.5
5.3
9.5
1.7
7.3
-5.2R
4.OR
9.7R
9.8R
-I.IR
15.8R
I
PERCENT CHANGE FROM CORRESPUNDING
1978
REAL
COMPENSATION PER
HOUR(2)
I
II
III
IV
PERCENT
1978
COMPENSAIION PER
HOUR(l)
5.7
9.6
9.2
9.5
9.5
2.8
1.9
1.4
0.5
8.2
7.1
6.2
6,0
5.3
9,5
1.7
7,3
6.7R
9.4
-0.4R
5.4
I
II
III
IV
1.3
1.9
3.1
3.3
6.9
7.0
8,1
9.2
5,5
5.1
ANNUAL
2.1
7.5
I
3.7R
SEE FOOTNOTES FOLLOWING TABLE 6.
R»REVISED
PSPRELIMINARY
10.7R
QUARTER OF PREVIOUS YEAR{6)
MAY 29,1979
SOURCE: BUREAU OF LABOR
STATISTICS
TABLE 6. NONDURABLE MANUFACTURING btCTOR! PRODUCTIVITY. HOURLY
C O M P E N S A T I O N , UNIT LABOR COST, SEASONALLY A D J U S T E Q d ? )
YEAR AND
QUARTER
OUTPUT PER
HOUR
OF ALL PERSONS
OUTPUT
(7)
HOURS
OF ALL
PERSONS
INDEXES
1978
1979
1979
1979
UNIT
LABOR
COST
1967=100
136.4
137.7
141.6
143.4
138.3
141.5
143.2
145.6
101.4
102.8
101.1
101.5
221.0
224.8
230.1
234.4
117.0
116.2
116.4
116.0
162.1
163.3
162.5
163.4
ANNUAL
139.5
141.9
101.7
227.7
116.5
163.2
143.3R
147.6R
103.0
239.6
115.5
167.2R
I
CHANGE FROM
PREVIOUS* QUARTER
AT ANNUAL
RATE(5)
I
II
III
IV
-2.6
3.9
11.8
5.2
1.1
9.4
4.9
6.8
3.7
5.3
-6.2
1.5
13.6
7.2
9.7
7.6
5.4
-2.7
0.8
-1.5
16.6
3.2
-1.9
2.3
ANNUAL
3.1
4.5
1.4
9.1
1.4
5.9
5.6R
5.8R
9.3
-1.5
I
-O.ZR
PERCENT
1978
HEAL
COMPENSATION PER
HOUR(2)
I
11
III
IV
PERCENT
1978
COMPENSATION PER
HOUR(l)
CHANGE FROM CORRESPONDING
9.5R
QUARTER OF PREVIOUS YEAR(6)
I
II
III
IV
2.5
2.6
3.4
4.5
4.3
4.4
4.6
5.5
1.8
1.7
1.2
1.0
8.6
9.0
9.3
9.5
1.9
1.7
l.l
0.5
6.0
6.1
5.7
4.8
ANNUAL
3.1
4.5
1.4
9.1
1.4
5.9
5,1R
6.7R
1.5
8.5R
I
SEE FOOTNOTES FOLLOWING TABLE 6.
R«REVISED
PSPRELIMINARY
-1.2
3.2R
MAY 29,1979
SOURCE: BUREAU OF LABOR
STATISTICS
FOOTNOTEST
TABLES
1-6
SOURCE:
O U T P U T DATA FROM BUREAU OF ECONOMIC A N A L Y S I S . U . S . D E P A R T M E N T OF
C O M M E R C F , AND THE F E D E R A L R E S E H V E BOARD.
COMPENSATION AND HOURS DATA FROM THE
BUREAU OF LABOR S T A T I S T I C S . U . S . DEPARTMENT OF LABOR. AND I HE BUREAU OF E C O N O M I C
ANALYSIS.
(I)
WAGES AND S A L A R I E S OF E M P L O Y E E S PLUS E M P L O Y E R S " C O N T R I B U T I O N S FOR SOCIAL
INSURANCE AND P R I V A T E BENEFIT PLANS.
EXCEPT FOR N O N F I N A N C I A L C O R P O R A T I O N S .
WHERE THERE ARE NO S E L F - E M P L O Y E D . DATA ALSO INCLUDE AN E S T I M A T E OF W A G E S .
S A L A R I E S . AND S U P P L E M E N T A L P A Y M E N T S FOR THE S E L F - E M P L U Y E D .
<2)
C O M P E N S A T I O N PER HOUR
ALL URBAN C O N S U M E R S .
(3)
NONLABOR P A Y M E N T S INCLUDE P R O F I T S . D E P R E C I A T I O N .
AND INDIRECT T A X E S .
(4)
CURRENT
(5)
PERCENT CHANGE COMPOUNDED
INDEX N U M B E R S .
<6)
CURRENT QUARTER
(7)
QUARTERLY M E A S U R E S ADJUSTED TO ANNUAL E S T I M A T E S OF O U I H U T (GROSS P R O D U C T
O R I G I N A T I N G ) FROM THE BUREAU OF ECONOMIC ANALYSIS. U . S . D E P A R T M E N T OF
COMMERCE.
(0)
UNIT N O N L A B O R
(9)
TOTAL UNIT COST
DOLLAR
(10) UNIT P R O F I T S
ADJUSTMENT.
ADJUSTED FOR CHANGES
IN THE CONSUMER
PRICE
INTEREST. RENTAL
G R O S S PRODUCT DIVIDED BY CONSTANT DOLLAR G R O S S
AT ANNUAL RATE FROM THE O R H I L N A L
DIVIDED BY COMPARABLE QUARTER
COST
INCLUDE D E P R E C I A T I O N ,
IS THE SUM OF LABOR
INCLUDE C O R P O R A T E
INDEX
FOR
INCOME.
PRODUCT.
DATA
RATHER
THAN
A YEAR ATTO.
INTEREST. ANU
AND NONLABOR
INDIRECT
TAXES.
COSTB.
PROFIT AND INVENTORY
VALUATION
(II) THE D U R A B L E SECTOR INCLUDES THE FOLLOWING P-DIGIT SIC I N D U S T R I E S :
PRIMARY M E T A L ; F A B R I C A T E D METAL P R O D U C T S ; N O N E L E C T R I C A L M A C H I N E R Y !
E L E C T R I C A L M A C H I N E R Y ; TRANSPORTATION E Q U I P M E N T ; I N S T R U M E N T S ; L U M B E R
AND LUMBER P R O D U C T S ; FURNITURE AND FIXTURES; AND M I S C E L L A N E O U S
MANUFACTURES.
(12) THE N O N D U R A B L E SECTOR INCLUDES THE FOLLOWING 2 - D I G I T BIC I N D U S T R I E S :
T E X T I L E MILL P R O D U C T S ; APPAREL PRODUCTS; LEATHER AND LLATHER P R O D U C T S ;
P R I N T I N G AND P U B L I S H I N G ! C H E M I C A L S AND CHEMICAL P R O D U C T S ; P E T R O L E U M
P R O D U C T S ! RUBBER AND PLASTIC P R O D U C T S ; FOODS! AND TOBACCO P R O D U C T S .
(13) S C H E D U L I N G OF THE R E L E A S E OF THE NEW CONSUMER PRICE INUEX FOR ALL
URBAN C O N S U M E R S (CPI-U) P R E C L U D E S THE USE OF REAL H O U R L Y C O M P E N S A T I O N
(HOURLY C O M P E N S A T I O N ADJUSTED FOR QUARTERLY C H A N G E S IN THE C P I - U )
WITH P R E L I M I N A R Y P R O D U C T I V I T Y AND COST M E A S U R E S .
THESE W I L L BE
P U B L I S H E D TOGETHER WITH REVISED OUTPUT AND LABOR INPUL M E A S U R E S WITH
THE NEXT REGULAR EDITION OF PRODUCTIVITY AND C O S T S . A H P R O X I M A T E L Y
30 D A Y S AFTER THE P R E L I M I N A R Y MEASURES.
Chart 1. P r o d u c t i v i t y , hourly compensation, unit
in the p r i v a t e business s e c t o r
(percent
change
Output
fronn p r e c e d i n g q u a r t e r
per
hour
of
ail
at
annual
costs and prices
rote)
persons
15
10
5
0
-5
Compensation per
hour
o f all
persons
-10
15
10
5
0
20
15
10
5
0
-S
35
30
25
20
15
10
5
0
-5
-10
-15
20
15
10
5
0
Chart 2.
P r o d u c t i v i t y , hourly compensation, unit
In the n o n f a r m business s e c t o r
(percent
change
Output
from preceding quarter
per
hour
of
all
at
onnuol
costs and prices
rate)
persons
15
10
5
0
-5
Compensation per
hour
of
all
-10
persons
10,2
15
10
5
0
Unit
nonlabor
payments
25
20
15
10
5
0
-5
30
25
20
15
10
5
0
-5
-10
-15
20
15
10
5
0
Chart 3.
P r o d u c t i v l t y , hourly compensation, unit
in n o n f i n a n c l a l c o r p o r a t i o n s
(percent
change
f r o m same q u a r t e r
a yeor
costs and prices
ogo)
Output
15
10
5
0
-5
15
10
5
0
15
10
S
Unit
nonlabor
payments
0
25
20
15
10
5
0
-5
15
10
5
0
Chart 4.
Unit
c o r p o r a t i ons
(percent
change
costs, unit
f r o m same q u a r t e r
Unit l a b o r
p r o f i t s , and prices
a year
in n o n f i n a n c i a l
ago)
cost
20
10
Unit
nonlabor
0
cost
3.3
30
20
10
0
Total
unit
-10
cost
6.8
20
15
10
5
Unit
0
profits
19.6
80
70
60
50
iO
30
20
10
0
-10
-20
-30
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@FedFRASER