The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
United States
~~~
Department
~
of Labor
Washington, D.C. 20212
Lawrence Fulco
Kathryn Hoyle
(202) 523-9261
(202) 523-1913
U6&L 79-74.
For llelease 10 :00 AM EST
IIbnday. October 29. 1979
-2T~hle
A. Productivity and Costs:
(SetlsonHlly Adjusted)
PRODUCTIVITY AND COSTS
Percent Change
at
Private Buainess, Nonfal'1l Busln:es8, and Mantlfacturinc Sec.tors
Third Quarter 1979
Proc:!uctivity
.Y
Sec toe
Productivity in the private business sector increased 0.1 perceltt at a seasonally
Hourly
corapensation
The small in.creaS8 followed a 2.2 percent decline
The third-quarter increase
reflected a 2.5 percent increase in Gutput and a 2 .. 4 perceat rIse in. AelJI'S of all persona.
business
}lanufacturing
Durable
~ondurable
0.1
0.2
3.2
-0.2
8.6
In the nonfarm business sector, productivity Inereased 0.2 percent in the thir4
q1Urter. following a 4.1 percent decliRe during the
seCOR.
qua.rter.
Output rose 2.8
Output
Hours
PRELIMINARY
Private business
~onfarm
in the seconi quarter and. a 3.0 percent decline ift the first..
Ileal
hovrly
compensation
Second Quarter 1979 to Third Quarter 1979
adjusted anntlal rate in the third quarter of 197!, the B"reaY of Labor Statistics ef the
u.s. Departm.ent of Labor reported tGday..
Unit
labor
cost
Annual Rate
8.5
6.2
8.0
8.0
7.9
8.3
7.9
4.6
8.2
-0.7
-3.9
-4.2
-4.3
-4.4
-4.5
2.5
2.8
0.0
-2.7
4.1
2.4
2.5
-3.1
-2.5
-4.2
First Quarter 197' to Second Quarter 1979
REVISED
Nonfinancial
corpora t ions
2.8
8.0
11.2
-4.9
-2.6
0.3
percent and hours increased 2.5 percent (annual rates) in the third quarter.
In manufacturing, productivity ro •• 3;2 percent in the third quarter, as output
Third Quarter 1978 to Third Quarter 1979
PREl.IMINARY
remained unchanged frOlll second-quarter levels wehrle hours of all persons declined at a ).1
percent annual rate.
output. fell
Du.ring the second quarter, pr'oductivity had risen
0.' pereel'lt and "hours
A suaaary ..f
thlrd1ua~ter
2.'
percent, as
gf all persons dropped at a 3.7 pereent annual rate.
chanles in prod1:Sctivity and costs appears in table A;
Pri vate business
Nonfarm business
Hanufactl.1t'ing
Durable
Nondurable
-1.2
-1.6
1.4
0.1
3.4
9.4
9.4
9.1
10.7
10.6
7.8
~.2
5.5
-2.1
-2.6
-2.1
-2.1
-2.1
1.8
1.7
2.9
2.4
3.6
3.0
3.4
1.4
2.2
0.2
Second Quarter 1978 t~ SeCOM QQarter 1979
REVlSf:O
details are fQuod in tables 1-6.
Nonfinancial
corporations
The productivity and CQst measures contained
9.4
a.8
ill
this release are based
OR
revised m.easures
of employment and average weekly hours which in.corperate the March benchmark...
Data far
1977, the earliest year affected by these cnanges. are available on request from. the Office
-0.5
8.'
9.4
-1.6
2.9
3.4
11 Although the productivity measures relate output to the hours of alII persoA'S engaged iA
each sector, they do not measure the specific contributions of labor, 'Captt~l, or any other
single factor of production. Rather, they reflect the joint effects of many influences,
including new technology, capital investment, the'level of pu-tput" capacity utilizathm,
energy use, and managerial skills, as well as the skills and efforts of the work force.
of Productivity and Technology of the Bureau of Labor Statistics, Washln&ton, D.. C. 20212
(telephone 202 523-9261).
NOTE: The data i~ thi~s table incorporate March'1978 benchmark data in the private
business, nonfarm business, and manufacturing sectors for the third quarter and revised
J
second ,q,.:arter measures for nonfinancial corporations.
-4-
-3Private Busiaess Sector
".rly coapensation increased 8.2 percent, compared. "'ith a 7.9 percent gain during
Proti.ctlvlty showed little change in the third quarter of 1979 in the private
business sector, as output and hours increases were silliiar.
while hours of all persons gained 2.4 percent.
the second quarter.
Output inel'eased 2.5 percent
In. the previous quarter, pt'oductivlty.
eo_pen6aeton decreasee
percent in the third quarter.
In the second C1'uarter, it
Uait labor cost increased 7.9 percent in the third quarter, the smallest rise all
Hourly compensatiGn, which includes wages aM salaries as well as friage benefits and
empleyer contributions to employee benefit plans, increased at an 8.5 percent annual rate
in the third period, the smallest quarterly gain all year.
During the second quarter,
year.
In the second quarter, these costs increased 12.5 percent.
The implicit price deflator for the nonfarm. business sector shol#ed a 9'.3 percent
increase in the third quarter, down from the 11.0 percent rate one quarter earlier.
Unit labor cost, which reflects changes in both
productivity and hourly compeasation, increasee 8.3 percent in the third quarter, down fr-.
4ft
,4.~
declined 5.0 percent (seasonally adjusted annual rates).
output, and hours all declined (table 1).
hourly cOllpensatlon increased 9.3 percent.
Aifter adjusting for the increase in the CPI-U. real hourly
Hanufacturlq
Pro4uctivity In maaufacturlng increased 3.2 percent in the third quarter J the largest
11.8 percent increase one q. . rter earlier.
Ileal hourly compeRsa1:1on-hourly ceaapensatlea. adjusted fer ckangea in the Consv1Iler
increase in a year.
The gain was attributed to a 3.1 percent reduction in hours; output
Price ladex fer All UK'ban Consumers (CPI-U)-decreased 3.9 percent in the third qua.:oter.
showed no growth .ver second-quarter levels.
In the second quarter, this series showed a 3.3 percent decline.
decline-was the result of a 2.0 percent decline In employment and a 1.2 percent decrease
The implicit price deflator, which shows the effects of changes in unit labor cost
in the length of the average workweek.
The reductio", in hours--the second successive
In the second quarter, manufacturing productivity
and unit nonlabor payments, Increase4 8.4 percent in the third fluarter, the Slaalleat such
increased 2.9 percent. as output and hours both posted declines (-0.9 percent and -3.7
gain siace the 6.9 percent increase in the third quarter of 1978.
percent, respectively).
In the secaad quarter.
the deflator showed. a 10.1 percent rf 0'"
Hourly compensation increased 8.0 percent in the third quarter, compared with a 9.8
percent increase in the second quarter.
Monfara BU8ine88 Sector
'series since the second quarter of 1978.
Productivity increased 0.2 pflrcent in the nonfal'1l boeines. sector in the third
quarter, as output grew ·2.8 percent and hours of all persons increased 2.5 percent.
In the
eecoad quarter, productivity bad declined at a 4.1 percent annual rate. as output dropped
3.6 percent and hours edged up 0.5 percent.
This was the smallest quarterly gain in this
Real hourly compensation decreased 4 .. 3 percent in
the third quarter; in the second quarter, this series sho",ed a 3.4 percent decline.
Unit labor cost rose 4.6 percent, the smallest gain since the third quarter of 1978 ..
In the second quarter. unit labor cost rose at a 6.7 percent annual rate.
-5-
-6-
Within the manufacturing sector, conflicting movements oecurre<! in the dur;;hle dod
nondurable industries.
Table B.
The Effect of the March 1978 Benchmark Revision
Percent change from previous period at annual rate
While manufacturing productivity gained 3.2 percent i.'1 the third
quarter, the growth was attributable entirely to nondurablesj in durables, productivity
declined 0.2 percent.
Private business
Year and
Quarter 1) Previous Revised
I
This "",as the second drop in durable productivity this year, '1nci
Nondurables, which account for about 39 percent of the manUf<ictllring sector, :;ho""02:<1
the 20.8 percent rise in the third quarter of 1975.
percent in the third quarter, while hours
decr~ased
incr~asc
:1'1
Output in nondurables increased 4.1
4.2 percent (annUAl r;f.ces).
Nonfinancial Corporations
1979
The Bureau of Labor Statistics also released revised second quarter productivity and
cost measures for the nonfinancial corporate sector today.
corporations doing business in the United
Stat~s
1977
Previously, producti .... ity
W,I:;
reportt...oJ do""n
2.7
6.2
3.5
-1.9
3.1
Ann
-0.8
2.5
2.6
0.8
1.1
-1.5
2.0
2.4
0.3
0.5
-0.2
2.4
2.9
1.3
1.1
-0.9
1.9
2.7
0.8
0.5
-5.7
5.1
6.8
2.0
1.1
-6.4
4.8
4.3
2.0
0.6
I
II
III
-2.8
-2.4
N.A
-3.0
-2.2
0.1
-3.0
-4.3
N.A
-3.2
-4.1
0.2
-2.3
2.8
N.A
-2.4
2.9
3.2
I
II
III
IV
data.
Revised Labor Input Data
The monthly 8LS Establishment Survey, ...,hich is the mdjor source of Llb;}r input <i,lta
for productivity and cost measures, recently incorporated the ~1ar..::h 1~n8 b~nch'nark data
The measures in the charts and tables i.n this relt:!ase .Ire b;lsed on the
Table 8 illustrates the effect of the benchmark revisi,)ns.
1979
of all persons
5.7
7.2
1.5
3.8
3.7
5.7
7.6
2.1
4.6
3.9
5.8
6.8
2.7
3.2
3.9
5.8
7.2
3.4
4.0
4.1
7.5
6.2
1.5
4.1
3.9
7.5
6.5
2.2
4.8
4.1
3.9
8.4
1.7
6.1
4.7
2.9
8.9
1.6
5.4
4.2
3.6
9.4
1.8
5.9
4.8
3.8
5.2
0.8
5.9
3.7
4.5
Ann
3.2
7.9
1.5
5.6
4.1
I
II
III
4.1
-0.7
N.A
4.4
-0.7
2.4
4.3
0.5
N.A
4.6
0.5
2.5
7.0
-3.8
N.A
7.1
-3.7
-3.1
I
II
III
IV
Ann
1978
3.3 percent, ""'ith output off 3 •. 0 percent And hours up 0.1 percent, based on preliminary
2.7
6.4
4.1
-1.2
3.3
Hours
percent drop in productivity in the second quarter, as output cieclined 2.1) pl."!r.::ent ,,,hile
hours of all employees incre;lscd 0.3 percent.
revised series.
5.1
-1.8
3.1
-1.5
1.6
This sector. wl-tich includes atl
with the exception of banks. o;tock and
commodity brokers, finance and credit agenCies, and insurc:lnce companie!'i, showeci a 1.A.
(noted on page 1).
5.1
-1.5
3.8
-0.8
1.8
Ann
1978
Manufact.urin2
prev!ouslr Revised
4.6
-2.1
5.4
-2.0
1.9
1
II
III
IV
since
I
I
4.6
-1.7
6.1
-1.3
2.1
1977
(See table 5.)
8.6 percent productivity advance in the third quarter, the biggest quarterly
I
Productlv"Tty
resulted from a third-quarter decline in both outP'.1t and hours (-2. 7 p~rce'lt and -2.5
percent, respectively).
Nonfarm business
Previous
Revised
I
II
III
IV
1/ Data
r or to 1977 not affected by this revision.
5.5
1.3
5.9
4.3
fAillE 1. PRIVATF AIJSINFSS SECTOR, ALL PERSONS: PROflUCTIVITY,
HOIIRLY Cf)MPENS ATT ON, UN IT LAIlOR COST, ANO PR ICES. ~EASONAlLY AOJIJS TEO
YEAR AII/O
QUARTER
OUTPUT PER
HnUR
nF All PERSOII/S
OUTPUT
HOURS
OF ALL
PERSONS
COMPENSATION PER
HOUR(l}
REAL
COMPENSATION PER
HOUR(2}
UNIT
LA80R
COST
UNIT NONlASOR PAYME.NT~(3)
IMPLICIT
PRICE
flEFlATOR
.------------------------------------------------------------------------------------------------------------------------------INDEXES 1967=100
1978
136.9
140.3
111 t .11
144.0
115.6R
117 .qR
118.4R
120.219
224.~R
IV
118.4R
1 t q. OR
119.7"
119.8R
2211.5R
?33.bR
238.4R
118.7R
118.1R
118.2 ....
118.0R
18q.4R
1')2.1R
IlJo;.?R
t9IJ.OR
164.8R
173.9R
177 .OR
181.3R
185.f!
1M.')
'-'2."
ANNUAL
119.2R
140.7
118.1R
231.2R
118.3R
194.0R
174.3R
187.2
I
II
III
118.9R
118.2"
lt8.3P
144.4
143.4R
144.3P
121.5R
121.3R
122.0P
244.IIR
?SO.3R
2S"i.4P
118.0R
I1b.9P
11S.7P
20C;.~R
211.7R
.21b.OP
180.8R
183.7P
lA7.SP
PH .1202."
206.2P
I
II
III
1979
180.~
---------------------------------------------~-------- ---------------------------------------------------------------------------
PERCENT CHANGE FROM pREVlnUS OLJARTfIl! AT ANNUAL RATE(S}
1978
1979
10.9R
7.9R
(I.2R
II.5R
2.9R
-2.1R
0.3"
-O.7R
12.bR
5.11
6.LI
S •• R
1.7R
b.IR
5.2
4.7P
8.5R
1.2
-2.9R
2.5P
".4R
-0.7
2."P
11 .1
9.3
A.5P
I
II
III
-l.SR
2.0R
2.4q
10.5
4.2
IV
0.3R
ANNUAL
0.5R
I
II
-3.0R
-2.2R
III
0.1 p
2.4
3.9~
ft."
" .1R
-8.6R
2L1.0R
7.4
q.9R
5.:11
11.2
f>.9
1'1.7
0.8R
A.OR
S.3R
7.1
0.1
-3.11
-3.9P
14.ft
11.IIR
8.3P
-l.OP
6.5P
8.bP
').~
to.tR
8.4P
--------------------------------------------------------------------------------------------------------------------------------PFRCENT CHANGF Fllnf>1
QIIARTER OF PREVIOUS YfAR(&)
cm(~E!'IPONI)JNG
1978
IV
-O.IR
0.9"
O.2R
O.AR
ANNUAL
0.5R
I
0.4R
-O.b"
-1.2P
I
II
III
1979
II
III
4.4
".OR
A.4R
II.5R
9. t R
1.3R
I.?!?
0.4P
0.1 ~
11.1
7.4R
8.3R
5.8
II.SI?
4.7R
4.E>R
5.0R
'5.2
4.7R
A.5R
5.5
2.?R
1.8P
5.tR
2.S!?
3.0P
9.?R
9."iR
q.4P
5.7
4.11
1I.'lt
2.1R
S.6R
S.4!?
7.5P
1'.0
O.SR
A.OR
5.3P
7.1
-O.bR
A.7R
10.?R
10.7P
9.7P
S.bR
S.9P
9.0
11.7
q .·IP
-1.0~
-2.1P
f> • 1
6.1'
7.4
---------------------------------------------------------------------------------------------------------------------------SEE FOOTNOTES FOLLOWING TARlF 6.
R=REVISEO
P=PRfLIMINARY
OCTOHFR 29,1979
SOURCE: ~"RfA" OF I AHOR STATISTTCS
TAfH.fO ?
~,()I\JFA~(Vl r<"STNFS~
HllliRL Y cm~pt:NSAT lfH,I, UN} T LA~OR
ALL PERsnNS: PR(lf)I)CTTVTTY,
ANO PRICFS, ~EAS()NALL Y A[)JIISTF.n
~Fr::rnR,
rO~T,
KFAl
YEAR ANO
QUARTER
OUTPIlT PER
WHIR
OF ALL Pt:RSONS
(lllTPUT
HOURS
OF All
PERSONS
COMPENSATTON PER
COMPENSATION PER
HOIIR(l)
HOIIR (2)
liN IT
1l~,IIT
LAflOR
r.OST
LAflOR PAYMENTS(3)
~ION
1"f'LICIT
PRJr:fO
[lEn ATOR
------------------------------------------------------------------------------------------------------------ -----~-------------INDEXES 1961=109
1918
lIt
IY
Itb.OR
Ilb.5R
1 t1 .3R
117.bR
131. ~
141.1
142.1
145.0
118.4R
121.1R
121.6R
123.4R
ANNUAL
ttb.8R
14\.<;
I
II
1lb.oR
tt':i.4R
11 '5.5P
145.'5
144.2R
145.2P
I
1'1
1979
III
22/).bR
190.?R
t92.1R
t95.bR
234.~R
1tb.8R
Itb.lR
llb.lR
tlb.OR
121.1R
221.3R
124.8R
124.9R
1;:>5.7P
~40.?R
2114.AR
?49.6P
~24.6R
;»29.4R
199.~R
Ibl.1R
t69.2R
t13.0R
116.1R
180.2
184.1
151.1'1
191.4
lib.3R
t911.5R
lb9.9R
18b.l
115.8R
tt4.3R
lt3.1P
?06.0R
2i?IR
174.3R
177.6R
183.0P
19C;. t
206.3
?lb.?P
264.8P
------------------------------------------------------------------------------------------------------------ -----~--------------.
PF.RCENT CH~NGF FROM PREVIOUS QUARTER AT ANNUAL RHUS)
r
1978
tI
III
IV
ANNUAL
r
t9H
II
III
-O.9R
1.9R
?7R
n./IR
0.5
-3.2R
-4.1R
0.2P
2.7
11.5
11.'5
6.11
5.4
1.2
-3.bR
2.8P
3.6R
9.4R
1.8R
5.9R
4.8R
4.6R
0.5R
2.5P
It.4R
7.SR
8./IR
R.AR
3.3R
-2.'5R
O.OR
-0.4R
12.4R
-ll.?R
?t.5R
9.4R
7.3R
8.bR
0.9R
8.0R
3.710/
b.6
1/).4R
7.9R
8.?P
-O.bR
-S.OR
-4.2P
14.(lR
12.'3R
7.9P
-4.0R
7.8R
12.bP
11.1
11 .0
'5.lIR
6.0
11.0
a.il
to.2
7.fI
7.11
Q.JP
--------------------------------------------------------------------------------------------------------------------------------PF.RCENT CHANGE FROM CORRESPONDING QUAfHfR OF PREVIOUS YfAR
(b)
1978
I
II
III
IV
ANNUAL
1979
t
II
III
-0.3R
0.6R
O.SR
I.IR
0.5
O.5R
-1.0R
-t.6P
4.2
5.7
0;.2
6.3
5.4
'D.q
2.2R
1.7P
4.6R
5.IR
4.7R
5.2R
4.8R
5.4R
3.2R
3.4P
R. tR
1I.4R
8.7R
9.IR
8.6R
lI.qR
q.OR
II.IIP
1.4R
1.2R
O.bR
O.IR
II.IIR
7.7R
/I .1
7.QR
O. QR ~
II.OR
-0.8R
-1.5R
-2.bP
10.t
10.6P
II.~
1.3R
3.7R
3.5R
6.1R
3.7R
8.2R
5.0R
5.5P
6. t
b.4
fo.6
7.1
6.6
11.3
fI.S
CI.6P
---------------------------------------------------------------------------------------------------------------------------SEE FOOTNOTES FOLLOWING TABLE 6.
R=REVISEO
P:PRELU4INAlitY
OCTOBER 29,1979
SOURCE: KURFAU OF LABOR STATISTICS
TABLE 3. NONFINANCIAL CORPORATIONS: PRODUCTIVITY. HOURLY COMPENSATION
UNIT LABOR COST. UNIT PROFITS. AND PRICES. SEASONALLY ADJUSTED
YEAR
AND
QUARTER
OUTPUT
PER ALLEMPLOYEE
HOUR
OUTPUT
EMPLOYEE HOURLY
HOURS COMPENSATION
(1)
REAL
HOURLY
COMPENSATlON(2)
UNIT
LABOR
COST
UNIT
NONLABOR
COST(8)
TOTAL
UNIT
COST
(9)
UNIT
PROFITS
IMPLICIT
PRICE
DEFLATOR
(10)
-------------------------------------------------------------------------------------------------------------------------------INDEXES 1967-100
1978
1979
I
II
III
IV
116.7R
117.8R
118.4R
118.8R
144.7
149.7
151.4
154.2
124.1R
127.1R
127.8R
129.8R
218.5R
222.3R
226.9R
231.3R
115.7R
114.9R
114.8R
114.5R
187.3
188.7
191.5
194.8
201. 5
200.8
201. 6
203.1
190.8
191.6
194.0
196.8
107.1
129.2
132.7
138.7
178.3
182.3
184.9
188.2
ANNUAL
117.9R
150.0
127.2R
224.8R
115. OR
190.6
201. 8
193.3
127.2
183.5
I
II
118.1R
117.3R
155.1
154.1R
131.3R
131.4R
237.4R
242.1R
114.5R
113.1R
201.0
206.4R
206.5
213.2R
202.3
208.0R
130.3
129.2R
191. (,
196.3P
--------------------------------------------------------------------------------------------------------------------------------PERCENT CHANGE FROM PREVIOUS QUARTER AT ANNUAL RATE(5)
1978
3.6
14.5
4.6
7.6
3.8R
10.0R
2.5R
6.4R
11.3R
7.2R
8.4R
8.lR
3.2R
-2.7R
-0.4R
-1.0R
11.4
2.9
6.2
6.9
5.6
-1.3
1.7
2.9
9.'
III
IV
-O.lR
4.1R
2.0R
1.lR
1.8
5.1
5.9
-40.8
111.3
11.4
19.5
3.6
9.3
5.7
7.3
ANNUAL
1.0R
6.2
5.2R
8.3R
0.6R
7.3
3.9
6.4
3.7
6.1
I
-2.1
-2.8R
2.5
-2.6R
4.6R
0.3
11.0R
8.0R
O.OR
-4.9R
13.4
11.2R
6.8
13.5R
11. 7·
n.8R
I
II
1979
II
-22.1
-3.4R
7.6
10.2R
--------------------------------------------------------------------------------------------------------------------------------PERCENT CHANGE FROM CORRESPONDING QUARTER OF PREVIOUS YEAR(6)
1978
III
IV
-O.lR
1. 2R
0.8R
1.8R
4.6
6.7
6.1
7.5
4.7R
5.4R
5.2R
5.6R
7.9R
8.lR
8.3R
8.7R
1.2R
0.9R
0.2R
-0.3R
8.0
6.8
7.4
6.8
5.5
4.3
3.5
2.2
7.3
6.2
6.4
5.6
-6.i
4.7
,1.4
1"3.6
6.0
6.0
5.8
6.4
ANNUAL
1. OR
6.2
5.2R
8.3R
0.6R
7.3
3.9
6.4
3.7
6.1
I
II
1.3R
-0.5R
7.2
2.9R
5.8R
3.4R
8.7R
8.9R
:1.0R
-1. 6R
7.3
9.4R
2.5
6.2R
6.1
8.6R
21-.7
O.OR
7.5
7.7
I
II
1979
SEE FOOTNOTES FOLLOWING TABLE 6.
R-REVISED
P"PRELIMINARY
OCTOBER 29. 1979
S·OURCE: BUREAU OF LABOR STATISTICS
TAaLE 4. MANIIFACTURING SECTOR: PRODUCTIVITY, HOURLY
COMPENSATION, UNIT LABOR COST, SEASONALLY ADJUSTED
YEAR AND
QUARTER
.----..
----------~-.-.------~---
OUTPUT
(7)
..
HOURS
OF ALL
PERSONS
COMPENSATION PER
HOUR (1)
---~-.---------.---- -----------_
INDEXES 1967=100
REAL
COMPENSATION PER
HOUR(2)
liN IT
LABOR
COST
.. -- ...--------.---.•... _---------------------------------.---
III
IV
125.1R
1?7.2R
P9.2R
li?9.8R
130.1
133.4
135.9
138.5
t03.4R
104.8R
105.2R
lO6.7R
223.?R
?26.6R
231.4R
236.5R
tt8.tR
1l7.1R
117. OR
t17.tR
t 77.5
178.1
179.1
182.2
ANNUAL
128.0R
134.5
105.1R
229.5R
117 .5R
179.4
I
II
129.0R
130.0R
131.I)P
140.1
139.7
139.7P
108.5R
107.5R
U6.7P
242.4R
248.2R
253.8P
116.9R
11 5.9R
114.6P
187.9
190.9R
193.1,'
10.7R
6.3R
8.1R
9.3
2.7R
-3.5R
-O.IR
O.OR
t8.lR
1.4
2.2
7.1
I
II
1979
OUTPUT PER
HOUR
OF ALL PERSO"lS
III
--------------------------------------------------------------------------------------------------------------------------------PERCENT CHANGE FROM PREVIOUS QUARTER AT ANNUAL RATE (5)
1978
-l.i?
III
IV
-b.4R
4.8R
6.3R
2.0
8. I
4.5R
5.5R
1.3R
5.9
ANNUAL
O.6R
4.8
4.3R
8.3R
0.6R
7.7
I
II
-2.4R
2.9R
3.2 P
4.6
-O.9R
o.oP
7.1R
-3.7R
-3.1P
10.JR
9.AR
R.OP
-O.6R
-3.4R
-4.3P
13.0
6.7R
4.6P
I
II
III
10.6
7.6
--------~---------------------------------------------.---------------------------------------------------------------------------
PERCENT CHANGE FROM CI'IRRESPONflING QIIARTER OF PREVIOUS YEAR(ft)
197.8
19H
1I.1R
8.0R
5.q
O.&R
11.8
2.6R
2.2R
1.IIP
7.7
4.8R
2.Qp
IV
ANNUAL
I
III
II
III
4.7
4.1
4.5R
4.2R
II.OR.
4.3R
0.2R
-O.tR
O.&R
l.aR
1
II
11.6
1I.7R
1.4R
O.qR
8.0R
·-O.3R
7.9
8.1
7."
7.1
4.3R
8.3R
O.flR
7.7
lI.qR
2.6R
1.4P
8.ftR
9.5R
Q.4P
-1.IR
-I.OR
-2.1P
8.1R
5.9
7.2R
7.8P
---------------------------------------------------------------------------------------------------------------------------SEE FOOTNOTES FOLLOWING TARLE ft.
R=REVISEI)
P=PRELIMJNARY
OCTOBER 29,19H
SOURCE: BUREAII OF LABOR STATISTICS
'S. DlIRARLE ~ANUfACTlJRJNr. SECTOR: PIWDtlCTIVITY, HOUfH. Y
Cm"'PfNSATIOII!, IINIT LABOR COST, SEASONALLY AOJUSTfl)(ll)
TARLF.
RfAL
YEA~
ANI)
QlIARTER
OtJTPIIT P£.R
OtlTPUT
HOUR
Of o\LL Pt='R<;ONS
JotOllR5
OF Al\.
(7)
PER50~S
COMPENSA-
CflMPEt.J5A-
TION PER
HOIIR(ll
TION PER
HrJlIR (ill
liNn
LA!WR
COST
II\IOfXt='S 1'67=1()O
1978
I
JI
lt8.9R
124.4
VO.9R
I?A.~
III
tU.5R
IV
II NI\I lJ ilL
I
II
III
?211.SR
??7.'lR
23?'."iR
In.8R
131 • ~
134.5
1 04.f>I~
t('\h.IR
107.?R
t09.5 R
PI.
~q
t<,9.n
I? 1 • RQ
In.1R
t??.bP
11~.9R
IA6.11
tl7.IIR
11I~.5
?37.~R
It7.hl<
t17.7R
1119.9
l'n.1
t(\b.9R
?31l.IIR
tIR.IF<
1'H).1I
136.?
ttl.liR
13'5.4
110.3P
I09.6P
?lIl.AR
?4 q .<;R
?54.3P
'17."iQ
11h.r:;R
t l <;.2P
200.1R
203 • .5
<'07.4P
!34.llp
--------------------------------------------------------------------------------------------------------------------------------fHiAkTFR Al ANNIJAL RATf
CHANGf Fl-inM
PF.RCF~IT
t97~
t 979
PRrVlnU~
9.7R
h.1R
10.0
5.7
5.QR
4.3R
/'I.7R
"i.1I
-3.6
13. ~
IV
-8.7R
f...QR
C:;.1 R
1.?P
ANNUAL
O.nR
T
II
III
- 5. ?r~
I
tI
III
9.'"
5.'1
-?5R
-(>.71-'
;>. q,~
-O.;:>P
('i)
q.hR
1.7R
-3.7R
-0.4R
0.4
20.2
-H.R
3.1
R.3
5 .MI
~.OR
0.3w
1.q
II.I\P
10.'R
-O.Mi
13.q
.7R
-3.5R
!I.np
-/l.ap
~.'R
q
-S.21?
-2.5P
b."'"
1'I.~p
--------------------------------------------------------------------------------------------------------------------------------RCP-JT
!iF PRFVIOIIS
PF
tq78
CHA~'f;F
FkfljU:
C[)RREspn~HlI
I,IG
QIIAP1FfI
YfAr~(f,)
-O.,Q
-0.6R
o. ,>t~
5."
'.hl?
0.0;[<
-O.'1R
R.3
5.f,
7.I\R
".1R
1.7/.1
O.ClI./
7.1
h.1R
II .I,p
-O.'W
7.a
ANNIJAL
n.I)R
<;.11
S.I.IP
'1.0R
0.31<
7.CI
I
;>.1I1?
1.,"1
O.IP
".0;
;:>
q.'i
h.qp
~.hP
-1.1
q.<;R
-1.H'
"1.9
.I~
II.Pp
;>.?I>
q .I,p
-2.11'
</ • .?P
I
IT
III
TV
JI
TIl
5.f>
1>.1 P
,.I'I?
P
1.?R
h'
1'.3R
7.<;
6.0
---------------------------------------------------------------------------------------------------------------------------T4'H.E "'.
SE.F FnnHllJTI=S FIII.,-n ..,1,.)(::
R=I?E-VTSEn
orTflKFR ;>0,1<)79
p=Pr.>FL TM"HI~Y
snIlRCF:
~"kFAIi
n~
LAW1R STATISTICS
TArl[F
6.
l'IIl(,,[)ltlHHLf
rI1"'PFr'<;~TII1t"
SFrTIln>: Of/[1\)IICTlltITY, HIlIIf<LY
rOST, SFA.,()rtAll Y AI1.TIISTFP(t?)
~·~~ltIFArTlltd"Ir,
IINTl
I.AIH1«
I,F AI
OIiT WII T oFF,'
YEAR 11 ',1\
[HlllqTFl?
(11)1
HIIIII<S
OF AU
(7)
H<lIII?
I)F
PIll
PFI(<;Ol'JS
;\[1
pF!<"[I~·IS
CIWPE 'JS ~-
PFR
HOllprl)
T T[I"
CPMPf,N:;AT T Il~' P~9
HI)IIt< (2)
(lNfl
LAIlI)R
rl)ST
-----------t-----------_______________________________ -------------_________________________________________ -------------------1~,"lFXFS
T
I II
l1n.<;I<
10~.OP
;>~~.f.oR
1 I , . "it<
I 4l). ~?
1 4 1.4l<
1 :~q. ~
11I1 .~
1 in.;>
III "i. 1
1(\?111
IO?np
?;>R.1R
;>3;>. 1m
ltS.IIP
11 "i .M;>
I ~O. ,
162."
In2.hP
tf.o4.S
t
14;>.3
IO?4P
;>2n.ll<
11"i.7i~
In?7
14n •.~
!lIf,.91<
I O"~. 'R
;>31\.IlP
t(\~.4p
;>1I /1. I P
1 14. fiR
I ill .IlP
171.KQ
HIR. ~p
102.3 0
?4A.AP
11?7P
171.,0
1
~h.q'?
TT
1~7.<;~
III
TV
AN~ItJt\L
I
1'I
HI
~q.o'?
lin
.1~
l'I?tI~
1 11").010'
OF
1978
t9H
I
IJ
I II
-;>.7Q
IV
~.4Q
II 1JNI)! L
1.5R
r
- (1. qf?
:{
I:rr
\ .H
A. ?'~
?.7R
A.hP
Rrf ~'T
rHA~!f;F
t9H
~.4
-1.31'
0.1
11.2
A./I~
0.7R
b.ll
11.4R
IIl.OR
-1.2R
-4.2P
10.,,101
-0.91;'
-?hl?
-u.C;p
7.C)P
15.4
1 1 • (l
7.7P
-O.7P
Cf1l.II?ESPON[) 1 1111, fJIfARTFR OF PIoIF VT1111~ HAR(n)
A.lk
1 ./I~
A.~I'
1.0101
A.~R
0.310/
11.1
A.7R
-O.lIP
fo.7
7.5
7.0
b.O
3.4
1.9R
R ./IR
0.7R
b.fi
"i.l
'1.7101
3.6P
1.9R
R.IP
9.;>101
Q.l P
-l.C;R
O.lIf;!
~.?
AN ,tJAL
1.5R
3.4 P
1.Rk
h.'ll?
2.IR
?2P
1.QI?
1.'5 Q
t • 3~
tr~
1I.7
R.~R
I. QP
F~OM
RAH (")
~. ~~
~.4
'3. /1
1 • '5P
4.1p
If,R.7
4.1 R
--0.1I11
C;.~
;> .'hl?
3.
F f«(')~l PI?FVTOIIS fllJAfHFI? AT A'\IN II AI
4.~
IV
3.~R
,~2().
l?~R
1.3P
O.bR
r
.1R
?71?
1.... 9P
-3.2 P
1. RP
I
It
III
II
III
1 (II
-0.1
6.A
pF:RrfNl rHANGF:
1978
\<),.,7:10(1
?q
O.2 P
-1.'Ifo<
-2.3P
4.9
5.7P
5.5 P
.--------------------------------------------------------------------------------------------------------------------------gEE FOOTNOTES FOLLnwlNG TARLE h.
R:REVIgEO
P:PRELIMTNARY
orTORFR 2 Q ,I<)79
SOURCF: HIIPFAII OF LABOR STATISTTCS
FOOTMUTFS,
T4klE~
1-~
H,,"'
SOURCE:
OUTPUT DATA F'WM RIJREAIJ OF FCOil/OMlC A~14l YSrS, U.S. f}EPAP1"1f~1T OF rOl-'MEI<CE,
COftPENSATII'N AND HOURS nATA FRO"" THE BIIREAIJ OF LAAO .. STATrSTlCS, u.s. Dt. P ARTMENl of LABOR,
TbF
A~ln
FE!)E~'AL
THI:
R£Sf'PVF f<I)H'f1.
~JI"EAJI
()f:
FCIJ~'(J"'Ir
(1)
WAGES AND SALARIE~ OF EMPl0YfES PI.US E''''PLOYE:~S" CONT~IAI/TIONS FO.,. snCTAI n;SlffHNCF ANn PldvATF qE~I~FIT PLA;~~.
NONFINANCIAL CORPORilTTOIIJS, WHfRF THFRF IIRF 1110 SFlF-F.:MPLoyFD, nATA Al.SO T"JrLUllE Alii F,STJfII'AIF flF ,\Af;FS, "AI APIFS,
SUPPLEMENTAl. PAYMF.NTS FOR TI-fF SELF-FMPLOYED.
(~)
CO"4PENSATION PFR HOIIR ADJIISTED FllR CHAt~GES TN THI'. CONSUMER PIHCE TNDEl( FOQ ALL
(l!
NANLABOR PAYMFNTS r~CLUDE PROFITS, DEPRECTATION,
(4'1
CURRENT DOLLAR GRaS·') PRODUCT DIVInEO RY CONSUNT DOLLAR GROSS pROOUCT.
(6)
CURRENT QUARTER DIVll)EO OiY CUMPARABLE tWARTER A yEAR AGO.
'(1)
QUARTERLY MEASURES AI).JUSTFI) TO ANNUAL ESTTfoolATES OF nUTPII,
u.s. DEPARTMENT OF COMMERCE.
NO~LABOM
COST
TNCLUnE DEPRECIATION,
INTEREST, R£NTAl
T~TEREST,
(r.~'lSS
INCO"'lF,
p!H~nllCT
Ut<'H~J
H'Al.YSJS.
FXCEPT FOt-l
AI\,f)
rONSJI~FhS.
AND INOTRFrT TAXFS.
Oi\I(;INAThG)
FRO'" THF' FuqfAIl OF Fc:n~:o,.,TC A~IAt.YSIS,
(8)
UNIT
AND INDIRECT T_XFS.
(19)
TOTAL UNIT 'COST IS THF. SU"1 OF lAI:lOIl AND NONLABO~ COSTS.
(to)
UNIT PROFITS tNelOOE: CORPORATF PkOFIT, TNVE~TORY VALUATION,
CAPITAL COI~SUMPTION An.JIJSn~E:NTS (IVA ANI) CC~ l.
(1t)
THE OllRA8lE SECTOR TNCLunES THf FOLLOWING 2-0JGIT SIC INDIISTIHES: PRIMARy ~IfHU FARRTCATf,) Mll'ThL pq(JnqrTS: Nn"FlFCTI<lCAL
"'ACIHIIIERY: FLFCTlHCAL MACHINERY; TkANSPIWTATION FnUIPMfNTJ INSTRlJ"4f~TS; LliMRfR ANn LLJMAI!.:R P~OOliCTS: FJlI{NlTIJI.'E ANO f-TKTURES:
AND MISCElLA\JEOUS MA;\IIIF~CTIIRES.
(li!)
TH€ NONOIIRARLE SECT'lR JI'4CLlIOFS THE FOLLO',\/ING ?-OIGIT SIC INOUSTRJfS:
TFXTILE MILL PPOflllCTS: APPAPEL PkOllIlCTS: l E~THFR
AND LEATHER PRODUCT';: PRINTING ANn PlJqLISHINS: CHFM1CALS _NO CHFMICAL PJ;'OOllCTS; PETP(1l£\.I~' PP()!)lIrlS; Rllf"H.R ~M) PLASTIr.
PRODUCTS; FOOOS: .N~ TO~ACCO PRODUCTS.
(13)
SCHEDULING OF THE wELEASE OF THE NEW CONSIIMfR PRICE INOEX FnR ALL URBAN CONSUMFRS (CPt-lJ) PRErLIIOFS THF I)SF PF Rfn hOURLY
COMflENSHION (HOURLY COMPENSATIO~I A"JUSTEn FOI;' PIJAIHE.RLY CHANGES II\,; THE CP!-U) WITH PQEI I""I~AIH pp(,nurTlVIlY A!~f' fO!H MFASI~f
THESE wILL RE PURL {SHfD TOGFTHER WITH REVYSf':O OUTPUT ANO U~OR INPUT "4EAStlkFS ~;JT,", THF NF.)(T wfGllLAR En) TIOI.; OF PIWIHlClIlIITY
AND COSTS, APPROXIMATELY ~o flAYS AFTEQ THF PRELIMINARY MF.ASllwES.
AND
***~*****************************************************************************************************
*
.*
*
*
*
*
*
*
THE PI;'OOlJCTtVTTY ANn ASSOCIATED COST MEASllRFS IN THIS PRESS RFLfASE IlFSCRI",E TI1!'" PtLATIO"'~HTP
BETWEEN OllTPUT IIIJ REAL. TERMS AND T'-IF LABOR TlME INVOLVE!) J~ ITS pI;'Of)l.IrTHl~.
THFY SHfJ\~ Tt-'F
CHANGES FROM PERIOO TO PERIOO IN THE AMOUNT OF L.ARO!;> TI"'£ RFI~IIIRF.!l To PR(lfllJCf A UMIT I')F OlilPIIT.
ALTHOUGH THESE I14EA5IJRfS RELATE OUTPUT TO HOtlRS OF _LL PEwSONS t::~IGAGfO IN A S~CTOR, THf':Y on MilT
I.tEA~URE THE SPECIFU: COIIJTRIRLJTJOIliS OF LABOR, CAPITAL, uR ANY I1THEP FACTOR OF Pt«1DtICTIO~'.
R~P-lfD,
THEY REFLECT THE JOINT CHI\NGES TN TEC"IiIlOLOGY; CAPITAL INl/fSTMf':NTi LFVFL OF flIITPIII: !ITTlT7.A1Tn~'
Of CAPACnO ENERGY ANO MATE~IAlS: THF Of.lGANIZATION OF PRI)OUCllON: MANAGERIAL SK1LLf ~N[)
CHARACTERISTICS A~!) EFFORT OF THE W0NK FORCE.
*
*
*
*
*
*
*
*
****************************************************************************l****************************
Cha rt 1. P r oduc ti v it y. hou rl y compensa ti on. un it cos t sand p ri ces
in the private business sector
(percent change trom preceding quarter at annual rate)
Output per hour of a II persons
III
I
----
I
I
I
I
I
0.1
I
I
I
I
I
I
I
I
15
10
5
0
-5
-10
------..,---
--------~
I
I
I
I
I
I
I
Compensa ti on pe r hour
0
f a II per sons
III
8.5
I
I
I
I
I
I
I
I
I
-------~--------~-------~-------~--------~-------~----------
Unit labor cost
: :
I
I
I
I
I
I
-------~--------~-I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
III
8.3
-+-------~--------~-------~----------
I
]
15
10
5
0
I
Un it non I abo r pay men t s
20
15
10
5
0
-5
III
8.6
35
30
25
20
15
10
5
-----,--------
0
-5
-10
-15
I
I
I
I
I
I
I
price deflator
III
8.4
I
I
I
I
I
I
-------;--~-----r-------+-------;--------r-------;---- ------
1973
1974
1975
1976
1977
1978
1979
20
15
10
5
0
Cha rt 2. P r oduc ti v it y, hou rl y compensa ti on, un it cos t sand p ri cas
in the nonfarm business sector
(percent change from preceding quarter at annual rate)
Ou t pu t pe r hou r
0
f a II pe r sons
III
0.2
15
10
5
0
-5
-10
I
I
I
Compensa ti on pe r hou r
0
f a II pe r sons
UI
8.:2
-------~--------~-------.-------~--------~-------~---- ------
Un it
J abo r
cos t
III
7.9
~
15
10
5
0
25
20
15
10
5
I
I
-------~--------~-I
I
-+-------~~-------~-------~---------I
I
t I t
I
Un it non I abo r paymen t s
t
. .
IIt
12.6
30
25
20
15
10
I
I
I
I
5
------r------e:-
0
-5
""'10
-15
I
I
I
I
I
I
I
Implic t price deflator
.
III
9.3
I
I
I
I
I
I
-------;--------r-------+-------~--------~-------;----------
1973
1974
0
-5
1975
1976
1977
1978
1979
20
15
10
5
0
Ii"
Cha rt 3. Pr oduc ti v it y. hou rl y compensa ti on. un it cos t sand p ri ces
in nonfi none i 0 I corporati ons
(percent change from some quarter a year ago)
Output per hour of all employees
III
I
I
I
I
I
I
I
I
I
I
I
I
I
------4o--
I
I
I
I
I
10
I
I
I
I
I
I
I
I
-------6------
15
I
I
I
I
-0.5
5
o
---~-------~-----I
I
I
I
I
I
I
-5
Compensa ti on pe r hour of a II emp I oyees
II
8.9
15
10
I
I
I
5
I
I
I
I
I
I
I
I
______ 4 _______ ~ ______ ~------~-------~------~------~--- ____ _
Un it I abo r cos t
:
:
I
I
I
I
I
I
I
I
I
t
I
I
t
9.4
15
10
I
t
5
t
______ 4 _______I ______ LI ______
~
~
_______
~
______ I ______
~
~
Un it non I abor p a y m e n
t s : :I
I
:I
I
I
I
I
I
I
t
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
t
I
t
I
--____ -6 _______
I
I
I
___ - - - - -
II
i.2
20
15
10
5
t
~------4o------~-------~------~------~---------
I
I
I
I
I
I
I
I
I
I
I
I
I
,
I
II
7.7
I
I
15
I
I
I
I
10
t
I
I
I
I
I
I
I
I
I
I
I
5
I
I
------~------~------t------~-------~------+------~-------
o
-5
I mp Ii c i~ p ri ce de fl a tor
1972
o
25
t
I
I
I
I
o
II
1973
1974
1975
1976
1977
1978
1979
o
Cha rt 4. Un it cos t s. un it pro fit s. and p ri cas in non fi nanc i a I
corporatIons
(percent change from same qyorhr
0
yeor ago)
Un it lohor cost
:
I
I
I
I
:
: 9.4
II
______ !______ -L ______ i ______ !_______ ~.-----~------~-------Un it non I ohor cost
II
~ ~~
6.2
30
20
I
I
I
r
I
,
_____L______ l ______ ~_~__~~-~-~-~-~-~-:~r:-:-:-:-:-:-~-~~
,
I
,
,
I
10
0
-10
Tot 0 I un it cos t
II
8.S
20
15
10
,
5
_______ ______ L ______ I _______ IL ______ _______ _______ _
~
~
Un it profits
~
~
:
I
II
0.0
I
I
t
0
80
I
I
70
60
50
40
t
t
I
I
I
I
I
I
I
I
30
20
------ . -- ----1-------+- ---- .... ------I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
,
I
I
I
I
I
I
I
I
10
I
I
I
I
I
I
I
I
I
1972
1973
1974
1975
1976
0
-10
-20
-30
1977
1978
1979
.>0\
@FedFRASER