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I,
';
l
.
Bureau of Labor Statistics
L.J. Fulco
K.D. Hoyle
Home
United States
~~~
Department
~
of Labor
Washington, D.C. 20212
(202) 523-9261
(202) 523-1913
(202) 333-1384
USDL 78-883
FOR RELEASE: 10:00 A.M. E:D.T.
Friday, October 27, 1978
PRODUCTIVITY AND CQSTS
Private Business, Nonfarm Business, and Manufacturing Sectors
Third Quarter 1978
Productivity in the private business sector increased at a seasonally
adju s : ~d
annual rate of 4.5 percent in the third quarter of 1978, the Bureau of Labor Statistics
of the U.S. Department of Labor reported today.
This rise compares with a 1.2 percent
increase in the second quarter and a 4.5 percent decline in the first quarter.
The third
quarter increase reflected a 3.8 percent increase in output and a 0.6 percent decline in
hours and was the largest gain in output per hour since the third quarter of 1977.
In the nonfarm business sect or, productivity increased 3.7 p.ercent in the third
quarter, compared with a 1.7 percent rise during the second quarter.
Output rose 3.3
percent and hours decreased 0.4 percent (at annual rates) in the third period.
In manufacturing, productivity rose 10.0 percent in the third quarter, as output
grew 8.7 p';!rcf'tl.t anj hours dropped L 2 percent.
manufacturing productivity in 3 years.
.'l1lis quarterly gain was the largest in
During the second quarter, productivity increased
8.3 percent in this sector.
A summary of third quarte,: changes in productivity and costs appears in tab1e 'A;
details are found in tables 1-6.
The productivity and cost measures contained in this press release for the private
business, nog£arm business, and manufacturing sectors are based on measures of emp10yment and average weekly hours which were recently revised by BLS to incorporate the
March 1977 benchmark data and to conform to the 1972 Standard Industrial Classification
(SIC).
Data foT. prior years based on the new measures are currently heing developed.
Requests for these data should be addressed to the Office of Product ivity and Technolo!·',.
Bureau of Labor Statistics, washington, D.C. 20212.
..,
-~ -
Table A. PToductivity and Costs:
(Seasonally Adjusted)
Sector
Productivity
Percent Change at Annual Rate
Hourly
COIIIpensation
Unit
Labor
Cost
Real
Hourly
Output
Hours
COIIpensation
Second Quarter 1978 to Third Quarter 1978
PRELIMINAIlY
PTivate business
4.5
9.8
5.1
M.A.
3.8
-0.6
Nonfarm business
3.7
8.9
5.0
M.A.
3.3
-0.4
10.0
10.5
0.5
M.A.
8.7
-1.2
9.6
10.5
0.8
M.A.
12.1
2.3
10.6
9.3
-1.2
N.A.
3.7
-6.3
15.2
10.1
Manufacturing
Durable
Nondurable
First Quarter 1978 to Second Quarter 1978
REVISED
Nonf inane ial
corporatiOnli
4;7
8.7
3.8
-2.0
Third Quarter 1977 to Third Quarter 1978
PRELIMINARY
Private business
0.3
9.1
8.8
N.A.
4.3
4.0
Nonfarm business
0.7
9.2
8.5
M.A.
4.7
4.0
Manufacturing
3,.0
9 ..6
6.4
N.A.
6.5
3.4
Durable
3.0
9.5
6.4
N.A.
8.0
4.8
Nondurable
3.1
9.2
5.9
M.A.
4.3
1.1
5.9
4.1
Second Quarter 1977 to Second Quarter 1978
REVISED
Nonfinancial
corporations
1.7
9.4
7.6
2.2
NOTE: The data in this table incorporates March 1977 benchmark data and revised SIC
classifications of the labor input data in the private business, nonfarm business and
manufacturing sectors for the third quarter and revised second quarter output measures
in nonfinancial corporations.
Scheduling of the release of the Consumer Price Index for All Urban Consumers (CPI-U)
precludes the use of real hourly compensation (hourly compensation adjusted for changes
in the CPI-U) with preliminary productivity and cost measures. These will be published
together with reVised output and labor input measures with the next regular edition of
Productivity and Costs, approximately 30 days after the preliminary measures.
••
Private Business Sector
ProductiYity advanced strongly in the third quarter of 1978 as output rose
3.8 percent and hours of all persons declined 0.6 percent (at seasonally adjusted
annual rates).
In the preceding quarter, output increased 10.5 percent, and hours
rose 9.2 percent.
tinued to
~ise--the
The decline in hours was the first drop in a year; employ.ent con13th consecutive quarter of grovth--but the length of the
av~rage
workweek was cut back by a greater aillOunt.
Hourly compensation, which inclwies wages and aaaries as well as fringe benefits
and employer contributions to employee benefit plans, increased 9.8 percent in the third
.
quarter.
In the second quarter, these costs increased 8.1 percent.
Unit labor cos·t ,
which reflects changes in hourly compensation and productivity, increased 5.1 percent in
the third quarter, the saaHest increase since the third quarter of 1977.
earlier '. these
cos ·~s
One quarter
rose 6.8 percent (annual rate).
The :implicit price deflator, which sRows the effects of changes in unit labor
cost and unit nonlabor payments, increased 7.3 percent in the third quarter, a significant slow±ng from the 12.1 percent annual rate of increase in the second quarter.
The large reduction in the rate of growth of the :implicit price deflator when a more
modest cutback occurred in the rise of unit labor cost reflects 'the larger drop in the
rate of increase of unit nonlabor payments·- -the other component of the implicit price
deflator.
In the third quarter, these payments rose 12.2 percent, compared with a 24.8
percent rise in the second quarter.
7hese payments include capital consumption allow-
ances, profits, net interest, and indirect business taxes.
Nonfarm Business Sector
Productivity increased more slowly in the nonfarm busines8 sector than in the
~.
private business sector as a whole in the third quarter • . Productivity growth in the
nonfarm sector was faster than in the private business sector in the first and second
quarters of 1978, reflecting the
then.
product~~ity
The 3.7 percent increase in nonfarm business productivity compares with a 1.7
percent increase in the second quarter.
der lines in the farm sector which occurred
.. :
- 4 -
Output rose at a slower rate in the third quarter than in the second (the same
pa : tet:n that was observed in the private business sector) growing 3.3 percent in the
thi rd quarter, compared with an 11.6 percent annual rate in the second.
Hours of all
pe r sons declined 0.4 percent in the third quarter, after having increased at a brisk
9. ) percent annual rate in the second quarter.
The reduction in hours results from a
decline in average weekly hours since employment continued to grow in the third quarter.
Hourly compensation increased 8.9 percent in the third quarter, compared with
an 8.2 percent increase in the second quarter.
Unit labor cost went up 5.0 percent--its
smallest rise in a year--and the implicit price def l ator 'rose 8.1 percent.
In the second
quarter, these measures increased 6.4 percent and 10.8 percent, respectively.
Manufacturing
Productivity increased 10.0 percent in manufacturing in the third quarter, the
fastest rate of increase 3ince the third quarter of 1975.
Although productivity growth
was faster than in the second quarter, output growth was at a slower rate and hours of
all persons declined in the third quarter--the first drop in this series since the second
quarter of 1976.
Hourly compensation growth speeded up in the third quarter, posting a
10.5 percent gain compared with a 7.4 percent annual rate of increase in the second
quarter.
Although the third quarter increase in hourly compensation in the nondurable
subsector was lower (9.3 percent, at annual rate) the increase for the manufacturing
sector as a whole matched the growth in durables owing to differential hours movements
in the component subsectors.
Unit labor cost edged up 0.5 percent, after, showing an
0.8 percent decline in the second quarter .
Non : nancial Corporations
The Bureau of Labor Statistics also released revised second quarter productivity
and cost measures for the nonfinancial corporate sector today.
This sector, which
includes, all corporations doing business in the United States with the exception of
banks, stock and commodity brokers, finance and credit agencies, and insurance companies,
showed a 4.7 percent increase in productivity in the second quarter, as output increased 15.2
percent and, hours of all employees increased 10.1 percent.
Pre~ious1y,
productivity had
been reported to have increased 4.1 percent, on the strength of a 14.5 percent increase
in output and a 10.1 percent rise in hours, based on preliminary data.
Table B summarizes
lAt1L~
"\}V~LY
Y£AR AND
QUARTER
OUTPUT PFR
Hf1_IJR
()F ALL PEHS-t1N,S
1. P~lVIITE ~[/C;l"'FSS <;ECTOIot. 4Ll Pl~S()NS: P-~OOIlCTIIIlTY_
C"II4PEI\ISATl,lN. l'NtT lAROR CO<;T. ,,'-If) PHICES .. "FASONAll.V AOJIlSTEO
'lt~ rplfT
"()f}~S
OF
All
P"'R~O"'''
cn""'F-NSIIT IO~o PE~
"'Ol' U ( 1 }
HE AI
COl'4pENC;AHON PFH
HOIH~
(;>l
III1/IT
LABOR
COST
UNIT NOli/lABOR PAYME.NTS nl
IMPU r.J T
PRICF.
DEFLATOP'
110._f>
114.0
IIIIf)[lI-rS 1Q",1=100
1917
I
111 .. 'I1ot-
n
117 .4~
II O. 1~
?~r.5H
112._ Q~
21~.4R
117.;>4
l16."R
J76.0R
179-.3H
Ilt'.Q:
r 13. Q~
lIS.3R 218 .. 8R
1I7.I.Q
118.f A
18l.1~
160.4R
164.0P
167.0
}'&3.'JH
lo1.A
l7P.1t
til
n9.oQ
1.30.5
I.31.':)
- ll~. 2
1 .3~. ~
A"-NtiAL
llA'.2R
I JJ .. c
1 rl. 1
?l3".OR
111.4~
}AO.2R
164.7P
174.9
I
II
III:
111.6H
118.0101
1.35.3
13d.7R
}-40.0p
115.0
111.f>R
7;>5.1
2?Q.6W-
119.3
I Uf. '5
16Z-.1P
1 fl. 3A
lIH ..3'
IP".6R-
111.4.P
2-35.0P
lIIo-A .. Cr3~
191.4
194..6R
197.0P
17o .. 3P
JR4 .. QP
III
1978
n8.~
Il9.3P
PERCENT C.... A"'GE FROM- PREIITOU.S QUA,nE.R AT
11f,.3
ANII/UAL RATE CS}
I
II
C.5R
9.3
6.1,R>
1.9-~
-0.3R'
5.3-
4 .. 9P
-1.7~
6-.5
8. 3R
5.8R
5.1R
~.O
-O.- V~
'J.5R
-r.6R
4.2R
Q-.5P
lIt
1 .. 4R
S.2
8.25 .. 2-
III-
0.4R
4.!!
3.1Q
6.1R
-Z,,1R
4.3R
1.9R
6.3'
Z'.nR
4.9"
ANNUAL
1 .. 6R
5.3
3.7H
8-.lR
1.f>R
f>.4R
4.?R
~.7
r
-~.5R
~a.6
4.0R.
1.,..4
6.8R
-13.1R-
fo.l
1.2Q
4.SP
4.!l-R
9.?R
12.1R
II
24.RP
12.2P
12 .. 1R
1977
1978
III
U.5R
3.8P-
PE~E:ENT
r
1917
-O.~p
C.... ANGE
F~O~
&.4
2.3
3--.6R-
It.OR
8-. OR"-
4.6R
1.SR-
1 .. :JR
1f.1R
5-.3
l.1R
~- .IR
3.1
4.M~
3.QR
4.IR
,+.3P
'+.oP
9.1P
III
I.SR
5 .. 6
III
-1.5R
bo.?
ANNUAL
1.6-R
I
II
-0'.2R
O.5R
SEE FOOTNOTES FOLLOWING
R-REVISED
P.PRELI MI NARY
7.3P
OF PREVIOUS YEA-Rt",
6.9
6.5
2.2
3".9R
0.3P
QUARTE~
1.2R
5 .. 0
III
COQRfSPQ.ND-ING
5-.1P
2.1
..·.4
1.11'1
1978
9 .. 8P
-2.5R
N.A.Cl3i
8.18.t
2.2
II
8 .. 1R"-
5.0
".R
6.0
S.8R
S.OR
5.9R
1.61~
&.ltR
4.2P
5.1
8.5R
I.AR
1.9q
N.A.C13l
8.8
a.5R
I. fR
9.IR
4.4R
".3
1.2
B.S-p
S.6P
1.1P
5.9
TA-BLf 6.
(}CTOAER 21,1918.
SOURCE: AIJREAU OF LABOR STATISTIC')
J
~i';"
TARLI:. 2. NONFARM I:IlJS I Nf'SS _
R. ALL PERSONS: PRODUC1IVITY.
~OURLY COMPENSATI0N. UNIT LABOR COST. AND PRICES. SEASONALLY ADJUSTED
..'-.
'
YEAR AND
QUARTER
OUTPUT PER
HOliR
OF ALL PERSONS
OUTPUT
HOURS
OF ALL
PERSONS
COfolPfNSAlION PER
1-I0llPll)
REAL
COMPENSAlION PER
HOlJR(2)
UNIT
LABOR
COST
UNIT NONLABOR PAYMENTS(3)
IMPLICIT
PRICE
DEfLATOR
---
INDEXES 1967=100
1977
1918
I
II
III
IV
115.6R
115.lR
116.2R
116.4
131.0
133.0
134.6
135.8
113.4R
115.5R
115.9
116.7
l03.9R
l1l1.1R
l11.2R
l15.1R
11S.1R
114.5R
115.3R
116.1
176.4R
119.81'1
181.7R
184.8
157.811
161.7
166.1
11>5.1
170.0
113.-6
116.4
118.1
ANNUAL
115.8R
133.6
11S.4R
2n9.3R
115.3R
IBO.7
11>2.7
114.6
I
II
III
115.5R
115.9R
111.0p
136.1
139.8R
141.0P
117.RR
120.6R
120.5P
?;>1.4R
2?5.8R
230.6P
111.3R
116.I,R
N.A.I,13)
191.1R
194.1R
197.1P
159.2R
161.1R
173.1P
180.6
185.3R
181r.. 9P
PERCENT CHANGE FROM PREVIOUS QUARTER AT ANNUAL RATEIS)
1917
1978
I
II
III
IV
l.4R
-1.4R
3.7R
O.SR
ANNUAL
1.3R
I
II
III
-3.1R
1.7R
3.7P
3.5
6.AR
7.7R
1.3R
3.0R
8.3R
6.5R
8.lR
7.6R
-O.OR
-2.IR
2.9R
2.IIR
5.l
3.9R
8.IR
1.5R
6.7
3.9R
9.B
-0.4P
12.ZR
B.2R
8.9P
4.0R
-2.4R
N.A.1t3)
lS.7R
6.4R
S.OP
~.4
6.2
S.I).
U.7
11.6R
3.3t>
5.8
8.0R
4.2R
1.1
1.511
10.3R
11.5R
-Z.4R
4.4
8.1
"'.5
4.0
4.3R
5.9
-13.5R
21.3R
15.2P
5.8
10.IIR
8.IP
PERCENT CHANGE FROM CORRESPONDING QUARTER OF PREVIOUS YEAR(6)
1917
1918
I
II
III
IV
2.3R
0.1
0.9R
1.lR
4.7
4.8
5,.4
b.O
Z.3R
4.1R
4.4R
4.1R
8.7
8.1
1.8R
1.6R
2.7
1.2R
1.IR
0.9R
6.3
1.lR
b.8R
6.l
2.7R
4.0R
5.5R
5.0R
5.1
6.2
".4
5.9
ANNUAL
1.lR
5.2
l.9R
8.IR
1.5R
6.1
4.lR
5.9
I
II
III
-O.lR
0.1
0.7P
l.8
S.2R
4.1P
l.9R
4.5R
4.0P
B.flR
9.0R
9.2P
1.9R
1.AR
N.A.lll)
SEE FOOTNOTES FOLLOWING TABLE 6.
A-REVISED
P.PAELIMINARY
8.1
8.lR
8.5P
, 0.9R
l.4R
4.2P
6.2
".7
7.IP
OCTO!lER 27.1978
SOURCEI !lUREAU OF LAAOR STATISTICS
:s~:
.
TARLE 3. NUNFINANCIAL CUkpnpATIUN~: P~OOUC~IVITY. HOURLY COMPENS~TIQN
UNIT LA~UR COST. UNIT PROFITS. AND PRrCE~. SfASONALLY ADJUSTED
YF A..
ANn
flUTI'llT
Al.Lt"PL!.lYU:
PFR
(mA~lfR
!:~II)YtE
O'.lTPI.JT
Hll"RS
HOUHLY
CQMPEN'iA-
1 IO~'
til
>iO'JR
PtA!:
~QIlRLY
r:Q""'PF.NSATION(2)
PN'IT
AflQR
r.UST
I
UNIT
1111'1111-
LIIRQI=!
CQST(A)
TQtAL
""'IT
r.o.ST
(Q)
I ,",PLl CIT
PQ[CE
liN IT
PRO-
DEFLATQR,
FITS
(, 10 )
INUfllES lQf,7=lOO
122.,9
111,.1\
177.9
19:4.5
TAiI.IT
1?0.2
172.,&'
l19,. }
111l.5
1' 8R .5
2,0 I.l
200.1R
191.~
104.5
17R.6
l'~'2.6R
127.81<
lH3.n
178.5
11~.
3'
212.0
l43-.~
120.4
22'4.8
148. P.R
123.3
2?9,.5R
120.1
120.1
142~1
11~.5
IV
143.~
ANNUAl;.
U9'.2
14L. I)
119. :f
120.7-H
f'fHCEIIIT
3.5
9.t''1.2'
".3'
CHANGE FROM PREVIOUS Q,IJAIHEP AT ANNUAl RAlF'('51
".2
1').3
Y.Q.'
r.7
190.2R
8.3'
6 ••
4.2
5.9
5.R
T
1.0
3.9'
1",T
1.C,
4.3
30 ••
-15-.. 8
5.0'
9. 'l
12'.9
:l.9
4.3:
0.3
8.7
-0.1
4.\
? .. 1
4A,.2
3.e;
4.6
3.9
6,.11
8.-7
-I)' .
IV
-1)-.2'
3'."
-0.1
1.9
ft~IIIIUAt
I.A
5.4
3.5
Ii.R
2.2
6.1'1
3..0
!>-. R
b.6
?7
1?4
II.7R
4.2
15 .. 3
3.8R
~ .. 5.
1-3.6
-.1.11
-l.OR
-;;>.O-R
I
I I
19'78
-2.f>
4.7H
~
-C)..
0
10.1
1' 5.?"
f'ERGENT CHANGE.
1977
I
II
If I
1.2
80.~
2.,8
7.,5
1.9
l.ft
3 .. 1
2.1
4.1
6..9
1t.5
5-.4
3.5
8.A
It.!> '
5.9R
3.2
4.1
9.4
? ,I!
7.0
ANNUAL
1.It
I
I.?
IT
1. TR
ronTN~TES
paPAfLlM-INA.RY'
FOlluWING
~A~LE
9.'"
2.3'R
Q.llARTER' 1'11" PREVIOUS
H.8
IV
A-R[VISEU
CORRt.S~UNfUf\l~
3.7
2.1
1.0
FWO"'.
2.7
3.9
".8
5.9
1978
SEE
1 R,!">."
111.1
117.9
III
nr
18?r;
181.9
171.f'<
114.5
17".3
;>14."1
218.3
118.~
I
II
I.,A.4
1 ;00..1
128.3,
11'1.6,
11~.J
l40.0;
1977
108.11
1$10.8
174.3
11(,.R
13,7 .~
ll~.f,
I
I.T
I7A./I
193.1
195.0
191.1
11 ft. n
11'5-.9
117.1\
}-IHS
192."
20S.'
?O'i.7
I
II
1977
3.5
T.3
~EAR(6)
6.4
6.5
5.2
-5.3
3:9
11.9
16.4
6.3
;.8
6-.2
1.7
?)
2.2
6.8
3.6
5.A
6.6
5.9
2.1
1'1 .. 1
•• 4
3.6A
1.1
-4.0
6.1
6.5
7.f>R
"
lIJ.2H-
5."
4.7
c.2
.-,:~
'h5
12'3.7~
6."
5.ft
30./)
"
ft.6R
b.4 ..
6.
QCTftREH 21.1978
8UREAU OF LAROR STATI5TICS
SOURCE:
;
T ~ MLt:
4.
OUTPUT PER
HOUR
OF ALL ~ERSONS
YFIIH AND
UlJ AIHfH
OU TPUT
17 )
----1'177
1978
SECTOR: PROOIICTIVITY. HOURLY
UNIT LAROH COST. SEASONALLY ADJUSTED
~ ANUFACTU~ING
c n M~~NSATIUN.
HOI)RS
nF ALL
PERSO \l S
COHPF.NSAnON PER
HOUR(1)
REAL
COMPENSATION PER
HOURIZ)
20S.6R
2n9.7R
214.3R
Z18.9R
116.1R
115 .. 9R
ll7.1R
11l1.2R
166.3
166.9
168.0
171.7
UNIT
LABOR
COST
INllDES 1'167=100
I
II
III
IV
123.7R
12S.6R
127.bFl
127 .5w
122.6
121i.6
129.8
99.1R
IOO.7R
10O.AR
101.8R
ANNUAL
126.1 R
1Z6.9
100.6R
212.ZR
116.9R
168 • .3
I
125.8R
lZ8.4R
131.4P
1Z9.7
134.1R
136.9P
103.1R
104.SR
104.2P
22S.0R
2?9.1R
234.9P
119.'ZR
118.3R
N.A. 1l3)
178.8
178.5R
178.7P
II
In
lZ6.6
pERCENT CHANGE FROM PREVIOUS QUARTER AT ANNUAL RATE(5)
·1977
IV
-0.6
6'4R
b.SR
-0.3
7-.7
13.7
6.6
4.0
8.3
6.8R
O.lR
4.3
9.9
8.ZR
9·.ZR
8-.8
1.4R
-0.6R
3 ..9R
4.0R
ANNUAL
Z.3R
6.l
3.9R
8.8R
Z.ZA-
6.3
I
-5.IR
8.3R
1a.op
-0.5
14.lR
8.7P
4.9R
!;"6R
-1.2P
Il.6R
7.4R
10.5P
J •.SR
-l.lR
N.A. <131
17.7
-0.8R
O.5P
I
II
III
1978
II
III
10.5
1.6
Z.SR
9.1
PERCENT CHANGE FROM CORRESPUNDING QUARTER OF PREVIOUS YEAR(6f
1977
II
III
IV
l.6R
1.9R
2.9R
Z.9R
4.0
6.1
7.1
7.9
Z.4R
4.?R
4.1R
4.8R
8.8R
8.lR
8.9R
9.0R
Z".8R
1.4R
".lR
".ZR
7.1
6.2
5.8
5.9
II"NNUAL
Z.lR
b.3
3.9R
8.8R
2-.ZA-
6.l
1.8
2.2H
3.0P
5.8-
II
4.0R
3.7R
3.4P
9.4R
9.ZR
9.bP
2.7R
Z.OR
N.A. Ill)
I
lq78
III
SEE FOOTNOTES
R=Rf_1/ r5f.ll
P=PPELJ MI NARY
FOLLO~ING
6.0R
b.5P
7.6
6.9R
6.4P
TARLE b.
OCTOBER Z1,1978
SOURCE: BUREAU OF LABOR STATISTICS
~~
~
TMll~
~.
lhJPII~lE · MANUFACTURI~Ir,· C;"CTO~:
C004 ....!:N5.ATlv"l.
,VFA~
AND
OIlTPl,T PER
i)I.JAlHf:R.
OF
HOlJP
Al.L PfkSONC,
U~lJT
LAI'I(}R
COST.
HOUR,S
OF All
PERSONS
OttTPUT
(7\
I'RnOIlCl'lVny. H()llRLY
AO.JUSTEOtll)
SF:A~nN.AllY
COMPFNSAfION I'EIt
IfflfJPllt
REAL
CO",PENSIT ION P'FII110lW I? ~
\IN'I T
lAtiOR
COST
--
INUFXES
1977
1979
II
In
IV
117 .. M~
1?0.4R
un.8R
121.5R
116.3
121 .. 0
123.5
124.8
9R.1w
IOO.6M10I.1R
102,.7R
ANNUAL
120.itR
121.4
I
II
III
119.. itR
122.flR
1?5.5P
[Zit ....
129.5101
113.]1'
I
--------1917
I
pEHCENT CHANGE
100.IIR
214.2R
UA.(II~·
177.9
IOit.2R
I05.7R
??6.9-A
?ll.IR
<'16.91'
120.?R
Il9 ..3R
N.A. Cl3)
19D.l
181h4R
lIUI. RP'
I06.~
FRO~
I'REVIOU~
9.UH
7."101
QUAPTER AT ANNUAL RATEI5}
~.3
3.1~
I 1• 1
9.itR
9.0R
IV
4.5
': .- S. 1101
9.8R
?6
O.SR
3-.IIR
4.9R
/I~ I NUAl
1. ~R
T .1
5.ZR
B.8R
?2R
f>.RA
I
I I
-b.hH
11.3H
lIt
9.M'
-1.5
t7.TH
12.1p
5.TR
5.7A
2.31'
10.4R
7.SR
10.'51'
?4H
-].OR
N.A. (}3)
18.5
-].itR
O.RI'
-------------
197"1
177.5
182.2
2H'.~
1-15.7
115 .. 9
6.9
17.1
III
1 917
??'1.4H
IIf>.9A
1l1 .. O'A
118.1R
119.SP
?~1.0'R
211.7R
-1.9
H.9H
5.0101
-1.11(
11
l'HR
19~1=IOO
'"'ERCENT CI1ANGE FROM CIJPAESPUNOINI' QUARTER OF PREVIO\JS YEAH I")
s.o
3.9101
6.9
7.5
5.;>H
IV
1.lA
1.1'>101
2.0101
2.oH
9.}
ANNUAL
1.9R
I
1.31'01
1.91(
3.01>
I
II
III
II
III
SEE FOOTNOTES
HaHf.vlC;FU
P=I'HEL T"I"IIIoI'(
~~LLO.ING
13.2
0.5
1.11
1l.0
2.2R
1.1A
2.2R
2.9R
7.0
6.5
5. it 101
6.1H
8.2101
1:I.2R
9.0R
9.RR
,•I
5.?R
8.8R
??R
6.ItA
6.9
1.0R
5.5101
s. I
4.AP
9.6R
9.2R
9.51'
?9R
1.9
11.2
7.IR
~j.A.IIJ}
6.4P
/t.OI'
6.8
7.0
TAHLF_ h.
OCTOqER "".1978
AUREI~ OF LAAOR C;TATISTICS
o;OIJl~cE: :
:'
TABLE 6. NONDURABLE MANIIFACTURING SECTORI PRODUCTIVITY, HOURLY
COMPENSATION, UNIT LABOR COST, SEASONALLY ADJUSTEOl121
YFAR AND
.- QUARTER
ouTPUT PER
HOUR
OF fill PERSONS
OUTPUT
HOURS
OF ALL
PERSONS
171
COMPfNSATION PER
HOUR I 1.1
REfll
COMPENSATION PER
HOUR(21
liN IT
lABOR
COST
INDEXES 19"7=100
1977
I
JI
III
IV
ANNUAL
1978
I
II
III
133.1R
134.2R
137.0
137.3R
132.6
135.5
136.9
138.0
99.6101
101.0R
99.9
100.SR
203.4R
206.4R
210.7
214.1R
114.9R
114.1
115.1
115.6R
15?-.8
153.9
153.8
155.9
135.4
135.7
100.3
2n8.7
115.0
154.2
136.4R
137.7R
141.2P
138.3
Hl.5R
142.8P
101.4R
102.7R
101.lP
??l.OR
??4.9R
230.0P
117.1R
116.1R
N.A.1l31
162.1R
163.3R
162.8P
~ERCENT
1977
I
II
III
IV
ANNUAL
1978
1.3R
3.1R
8.6R
1.0R
R.8
9.0
4.1
3.2
7.4
5.7R
-4.2R
2.?R
3.1
5.1
2.0 ,
8.3
1.7
5.0
3.7R
5.3R
-6.11>
13.6R
7.2R
9.3P
5.4R
-3.3R
N.A.1l31
16.6
3.2R
-1.2P
-2.6R
3.9R
10.6P
I
II
III
CHANGE FROM PREVIOUS QUARTER AT ANNUAL RATEISI
1.1
9.4R
3.7P
7.6
6.0
8.5R
6.7R
-0.7R
-2.6R
3.3R
1.9R
6.2
2.8
-0.1
5.6
PERCENT CHANGE FROM CORRESPUNOINr. QUARTER OF PREVIOUS YEAR(6)
1911
I
II
III
IV
ANNUAL
I."
I
II
III
SEE FOOTNOTES
R-REVISED
P-PRELIMINARY
FOLLO~ING
2.3
2.4
4.1R
3.5R
2.65.1
6.6
6.2
0.3
2.6
2.4R
2 • .7R
9.4
8.1
8.3R
7.2R
].]
I.]
1.5R
0.5R
6.9
5.6
4.0
3.6
3.1
5.1
2.0
8.3
1.1
5.0
2.5R
2.6R
3.1P
4.3
4.4R
4.3P
I.SR
1.7R
1.lP
·8.7R
9.0R
9.2P
Z.OR
1.8R
N.A.(13)
6.0
6.1R
5.9P
TARLE 6.
,
.
OCTOBER 27.1918
SOURCE' RUREAU OF LAROR STATISTICS
"
FOOTNOTf~.
TA~LES
1-6
SOURCE: OUTi>IJT DAT4 FRO~ BUHEAU ,nF ECONOMIC ANALYSIS. U.S. DEPARTMENT nF
AND THE F~OEH4L HESF~Vf ~04~U. COMPfNSATION ~ND H()UP~ DATA FROM THE
8UHEAU OF LA~OH STATISTICS. U.S. O~PARTMENT ()~ LA80R. AND THE RUREAU OF FCONOMIC
ANALYSIS.
COMME~CF.
(1)
""GES AND SALAI~H S OF f)"PLliYE~S PLtlS E"'PLOYFRS" CONT~IetJTIONS FOR C;OClJIL
1NSURANCE AND PHIVATE AE~E~IT PLANS. EXCfPT FOR NUNFIN~NCTAL CORPORATIONS.
WHEH~ THE~E ARE NO StLF-fM~LOYEO. DATA ~~SO INCLUDE AN ~STIMATE OF WAGES.
SALARIES. 4ND SUPPLEMENT~L PAYMENTS FOR THF SELF-EMPLOYED.
(2)
COMPENSATION PER HOUR ADJUSTED FOR CHANGES IN THE
ALL URHAN CONSIJMEHS.
(3)
NONLABOR PAYMfNTS I~CLUOE
4NO INDIR~CT TAXES,
(4)
CURRENT DOI,L.At:i GROSS PRO!)'JCT 0lVIUED BY CflNSTANT DOLLIIH GRO .. S P,ROflltCT.
(5)
PF.:RCENT· CHANGE
HIOEX NU"'!iER"i.
(7)
QUARTe:RL Y MEASURES AOJUC;TELJ TO aNNUAL ESTIMATES c)F OUTp"" (GROSS PRODUCT
ORIGINATING) FROM THE ~UQEAU UF ECONOMIC ANALYSIS. 11.5. DFPARTMENT OF
COMMERCE.
Oil
UNIT NONlAHOR COST INCllJl)t:: UEPRECIATION.
(9)
TOTAL UNIT COST IS THE SUM OF
COMPOUN~)ED
(10) UNIT PROFITS INCLUDE
ADJUSTMENT.
~ROfITS.
CON~fMER
PRICE
INDE~
' FOR
DEpHECJATION. INTEREST. RENTAL INCOM!.
AT ANNI,fAL. RATE FROM THE QIHGINAL DATA RATHER THAN
CO~PORATE
~~ijOR
I~'TEREC;T.
ANI) TNOTRECT TAXES.
AND NONI,A80R COC;TS.
pQOFIT AND INVENTORY VALUATION
(11) THE' D\JRA~lE SECTOR INCL.UDES THE FOLL.OWING 2-DIGIT SIC INDUC;TRIES:
PRIMARY METAL! FAARICATEO METAL P~ODUCTS! NONEL.ECTRICAL ~ACHINERY'
ELECTRICAL MACHINERY! TRANS~Ok'ATION EQUIPMENT' INSTRIJ~ENTc;, LU~RER
AND L.UMHEH PRODUCTS' 'URNIrUR~ AND FIXTURFS, AND MISC~LLAN'QUS
"IANUFACTI,lHES.
(12) THF NONDUH_8LE SECTOR INCLUDES THE FOLLOWING 2~DIGIT STC INDUSTRIES:
TFlITIlE MILL PRODUCTS' AP~AHEL PRODUGTSI LEA1HER AND LEATHF.:R PRODUCTS'
PRINTING AND PU8L.ISHING' CHEMIGAlS AND CHFMICAL pROOlleTS' PETROLEUM
PROQUCTS' RURBER AND PLASTIC P~ODUCTS! FOODS, AND T08ACCO PRODUCTS.
(13) srHEDULING OF THE RELEASE OF THE NEW CONSUMER PRrCE INOElIFOR AL.L.
URRAN CONSUMERS (CPt-U) P~ECL.UDES THE USE OF REAL HOUHLY COMPENSATION
(HOURLY CO"'PENSATION ADJlISTED FOR QUARTERLY CHANGES IN THI': Cj)I-IJ)
WITH PRELIMINARY PRODUCTIVITY AND COST MEA~IJRES. THESE WILL RE
pURLISHEO TOGET~ER WITH REVIS~D OUT~UT ANI) LA~OR INPUT MEAC;~RES WITH
THE NEXT HEGIJLAR EDITIQN c.W PRODUCTIvITY AND COSTS. APPROXIMATELY
30 DAYS AFTER THI': PRELIMINARY MEASURES.
..,.,.
"
Chart 1. ProcNctlvlty. hourly compeMQtfon, untt costs and prices
rn th. prfvate business sector
(p.ro.nt . . . from pr.-I,. .,.rhr Itt _ I ret.)
1
1
Output pflr hour of all Pflrsons
III
... 5
1
1
1
15
10
5
,*
~:
-------1--
o
1
1
-I
-5
I
-10
1
Compensa,\j on
hour of aU ,persons
~. .
1
I
1
III
1.1
,
1
1
,
,
I
-------~-------~-------~-------~-------~-------~---------I
I
I
I
I
I
Un it labor ooat
.......
.
I
I
I
I
I
I
I
:1
~.
S.l
I
I
I
J
J
I
I
I
I
I
20
,
,,
,
,
5
~-------~-------~---------1
I
o
-S
I
,,
,,
,,
,
I
us
It. a
35
30
.25
20
1
1
1
~*
10
S
-------,-,,
,,
o
-s
----T------,,
,
I
1
1
1
I,
-10
-15
,I
I mp Ii c it prT.ce de flator
,,
,
-----t'.
III
7.3
1
1
,
,
-------i--------r-------+-------~--------~-------~---------*Based
o
10
Unit nonlGbor PGymflnts
1972
5
15
,,
-------~--------~-------+--I
I
I
10
III
I
I
I
I
I
I
~
15
1973
1874
on unrevised data
1975
1976
1977
1978
2D
15
10
5
o
I
P r oduc tl v It y, hou rl y compensa tf on, un ft cos t sand prf ces
fn the nonfarm busrn. . . .ector
Chart 2.
(p.ro.nt chanv- from pr __ i"" .,.rt.r CIt ..... 1 rot.)
I
I
Output per hour 01 all persons
I
-----:*
-------,--
I
I
I
1113.1
,,
,,
,
I
I
15
10
5
,
a
-----r---- ~ --'t
-5
-10
I
I
I
I
hour of aU ,persons
Compensati on
I
"
. J*
I
I
III
,,
I
I
I
,
I
I
,
,
•••
15
10
I
I
5
-------i--------r----·--t-------;--------t-------i---------I
•
•
Un it I abor cost
1
1
1
I
1
1
1
1
1
1
I
.1
1
1
I
1
1
1
I
i*
1
1
1
\
1
---~--------~-------+--1
1
1
1
1
1
1
1
1
1
1
S.O
1
1
1
- -,--------r-------,---------1
1
I
I
1
1
I
I
I
1
I
I
I
I
III
II. a
I
I
'.
I
I
I
1
I
I
I
I
II
30
25
20
15
10
5
-----+-------
o
I
II
-S
Implicit price defl<stor
III
1.1
I
I
I
20
15
10
5
I
I
I
~*
-S
-15
I
--/1*
------- .. -----
Q
-10
,
Unit nonlobor paymonts
1972
25
20
15
10
5
1
1
1
1
1
_
o
III
1
1
1
1
I
I
1
1
1
I
1
1
1
1
.........
I
1
3
o
1973
197"
*Based on unrevised data
1975
1976
1977
1978
Chart 3. Productivity. hourly compensatron, un.t costs and prlc••
rn nonflnanofal oe,poratlons
(pe, .... t . . . . "tIII ......rt., • ,ee' .,.)
t
t
,
.,
I
I
,
,
t
Output per hour of all employees
,
,,,
I
t .
t
t
t
t
,
---i*
,
-------i------t
.,
t
t
I
t
t
t
-----:
t
10
5
----i------~---p-------~-----i'-'--------,
t
,
t
1&
t
f,
tt
•
I
Compen.ation per
hour 01 aU employees
t
,
,
t
t
t
t
t
t
II
L.1
t
t
t
t
t
t
t
,
-S
..
II
t..
15
t
,
*
t
10
,
t
t
I
I
:
,
o
,
t
,
t
3
5
0
.
-------i-------~-------+-------~-------~----~--~---------t
t
,
,
t
t
,
Un it labor co.t
',
I
:
:t
,
,
,
,
,
.
t
,
I
,
,
t
"
,
I
:
'
t
.
.
:t II1.'
t
15
t
I
10
I
. . . . . :*
-------i-------+------.
-t--------i--------t--------i---------.
I
I
:
.
I
Un it non 1abo r paym., ts
II
, .. I
I
t
I
I
3
.
5
0
, 25
30
I
I
I
I
I
I
1S
10
I
-
~*
I
5
I
I
-
-------,---~---~-------T-------~-------r-------,---------I
I
I
t i t
t i t
I
I
I
I
I
I
•
I
I
I
I
I
I
•
-5
-10
-lS
I
•
•
prJ ce deflator
II
"I -
I
I
I
I
I
1972
I
I
I
I
o
1&
10
3
5
o
1I'll
11'l"
*Based on unreviaed data
1975
1976
1977
1978
.;
.~
.
-f
.'
,
..
Chari 4. Un1t coet •• unit profit., Gnd prIed fn nonflncmclcsl
corporcatlon.
c,w..t .... " .........Ft.,
I
I
I
I
unit labor coat
I
I
_
I
J.
I
• ,.., .,.)
,
,
,
,
,
,
~
'
~
~
:
,
"
,
,"
_
I
I
,
-~-----4-------~-------~------I
I
,
·
co.t
Un it non I Qbor
II
I
I
I
I
I
I
I
I
I
,.~
J.'
:
...
' _,,,
,
II
,
__~----__~~
,
-------~-------~----------
,~
"
II
1.1
,
,
,
,
,
TotQI
I
I
I
I
I
•I
W\ it
..
10
0
,
,
-10
cost
I
I
I
I
I
I
I
I
I
II
1.1
20
15
10
I
I
S
I
-~~------~-------t-------1r-------t-------i---------I
I
"
I
I
I
I
I
I
I
Un it profits
·•
I
·
I
30
20
_'_I--~_~_~~-~-----~-------~-------~-"c.~i'"
I
,
I
3~
....
0
. 11
10
70
,
80
50
..~.
40
" .,.
30
20
~.
10
I
I
0
I
I
I
I
I '
I
-10
-20
I
I
1S12
18'll
1&'1.
*Based on unrevlsed data
1975
-30
1976
1917
1978
~
@FedFRASER