The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Bureau of Labor Statistics
United States
~~~
Department
~
of Labor
Washington, D.C. 20212
USDL 78-396
FOR RELEASE: 10:00 A.M. EST
Tuesday, April 25, 1978
(202) 523-9261
(202) 523-1913
(202) 333-1384
L.J. Fulco
K.D. Hoyle
Home
PRODUCTIVITY AND COSTS
.,
t
Private Business, Nonfarm Business, and Manufacturing Sectors, First Quarter 1978
(and data for Nonfinancial Corporations, Fourth Quarter 1977)
"' t • •-
Productivity in the private business sector declined 3.6 percent (at a seasonallyadjusted annual rate) in the first quarter of 1978, according to preliminary figures
announced today by the Bureau of Labor Statistics of the U.S. Department of Labor.
The
decline, the first since the second quarter of 1977 and the largest quarterly drop in 4
years, reflected a 1.8 percent decline in output, coupled with a 1.9 percent incr ease in
hours of all persons.
In the fourth quarter of 1977, productivity increased 2.3 percent.
In the nonfarm business sector, output per hour of all persons--productivity-declined 3.3 percent, as output declined at a 1.0 percent annual rate and hours increased
2.4 percent.
This productivity decline--the first in this sector since the fourth
quarter of 1976--was the largest since the third quarter of 1974..
In the fourth quarter
of 1977, productivity increased 2.3 percent in this sector.
In manufacturing, productivity declined 3.3 percent in the first quarter of 1978 and reflected a 0.1 percent drop in output and a 3.3 percent increase in hours (at
seasonally-adjusted annual rates).
fourth quarter of 1977.
Productivity also declined--by 0.9 percent--in the
The first quarter decline was most severe among durable goods
producing firms.
A summary of these first quarter measures, as well as fourth quarter 1977 measures
for nonfinancial corporations which were also released today, appears in tables A and B;
details are in tables 1-6.
- 2-
Table A. Percent Change at Annual Rates in Productivity and Coata,
Seasonally Adjusted
'
PRELlMlNARY
Sector
Productidty
Hourly.
Co...
penaation
Unit
Labor
Coat
Real
Hourly
Coapensat ion
-'"
Output
Houra
Fourth Quarter 1977 to First Quarter 1978
....
..
Buai~ess
-3.6
14.0
18.3
(1)
-1.8
1.9
Nonfara Busineaa
-3.3
13.2
17.0
(1)
-1.0
2.4
Manufacturing
-3.3
14.9
18.8
(1)
-0.1
3.3
-5.7
14.0
20.9
(1)
-1.4
4.5
0.4
16.2
15.7
(1)
1.8
1.4
Private
Durable
Nondurable
Firat Quarter 1977 to First Quarter 1978
Pri.ate Buain.aa
0.7
9.1
8.4
(1)
4.4
3.6
Nonfara Buainea.
0.9
9.1
8.2
(1)
4.5
3.6
Manufacturing
1.1
9.4
8.2
(1)
5.2
. t' 4.0
Durable
0.5
9.4
8~8
(1)
6.1
5.6
Nondurable
2.2
9.1
6.8
(1)
3.9
1.7
. (1)
Scheduling of the releaae of the new ConaUlier Price Index for all urban conn.era
(CPI-U) precludea the uae of ·r ..l hourly cO.~8Daation (hOurly coapenaation adjuated
for quarterly chan.ea in the CPI-U) with preltatDary produetl.ity aDd coat aeaaarea.
Theae will be pub1iahed to.etbar with r ..iaad output and· labor input ...aurea with
the next regular edition of Productivity and Coata, approzta&tely 30 daya after the
preliainary aeaaure ••
- 3 -
Table B. Percent Change in Productivity and Costs at Annual Rates
Seasonally Adjusted
Nonfinancial CorporatioDs
Item
..1
~
3r4 quarter 1977
to
4th quarter 1977
PRELIMINA,RY
4th quarter 1976
to
4th quarter 1977
1977
Annual
PRELIMINARY ·
REVISED
Output per all-employee hour
1.1
3.3
2.4
Hourly compensa tiOD
8.0
8.9
8.9
UDit labor cost
6.8
5.3'
Real hourly compensation
3.2
2.0
2.3
Output
5.3
7.5
5.9
Hours
4.2
4.0
3.5
-12.~
11.3
2.0
Unit profits
. l~
6.4
- 4 -
..
Prift~e
Budne.. Sector
Productivity d.clined 3.6 percent in the firat quarter of 1978 in the private
business sector. as outPUt declined 1.8 percent and hour. of all p.rsone iIler...ed 1.9
percent.
This drop in output va. the first in 3 year••
'Hourly colllpensatlon--vhich includes vage. and ealaries a . . .11 as aupplaents and
eaployer contributions to Social Security and private employee benefit plan.--ro.e 14.0
percent. the largest rise in 5 year..
Unit labor cost--coapenaation per unit of output
which reflect. chang.s in hourly coapenaation and productivity--ros. 18.3 percent in
the first
quart~r.
",'
the larg.st increa.e in this ... aure since the fir.t quarter of 1951.
.
The iapl1cit price deflator--which shove the cOllbined .ff.ct of change. in unit
labor cost and unit nonlabor payaent...-increased 6.9 percent in the first quarter (at an
annual rate) co.pared with a 5.2 p.rcent rise in the fourth quart.r of 1977.
C~red
with the .... quarter a year ago. productivity iIlereased 0.7 percent. out-
put . . up 4.4 puc_to and
~.
of all pew. . . vera 3.6 puc_t h1aher.
/
'anl,. rafl.etina
a 9.1 percent riae in hourly eoapenaaUon. unit labor coat increaseel 8.4 percent. !' 'th.
t.plicit price d.flator ro.e 6.1 p.rcent over the first quarter of 1977.
Montara Bu.in.. s Sector
The productivity 6ecline in the nonfara bueine••••ctor va. aaal,l .r than th. drop
in' the privata bu.ine•• sector as a whole beeau.e the latter includ.s the fara .actor
whare a larg.r productivity decline occurred in the first quarter.
Productivity declined
3.3 p.rcent in the DOnfara budna.s .ector during the ftr.t quartar. a. output faU 1.0
percent and hours iIlerea.ed 2.4 percent.
Hourly cOllpenaation ro.e 13.2 percent (at an
annual rate) in the first quarter. the larsest ri•• ever recorded in this seri.s which
b"lns in 1947.
quarter of 1974.
Unit labor cost rose 17.0 percent. the larse.t riee since the .econd
The t.p1icit prica daflator rosa 6.4 p.rcent.
eo.pared with the firat quarter of 1977. productivity ... 0.9 percellt biaher.
vas up 4.5 percent. and hours of all per eon. increased 3.6 percent.
Hourly coapenaat1on
va. 9.1 parcent higher than a year ago. and unit.labor cost vas up , 8.2 percent.
i.pllcit price deflator
increas~
6.3 percent over the period.
~tJtUt
-The
"
..,.
.
- 5 -
Manufacturing
"The productivity decline in the manufacturing sector--3.3 percent--matched the
movement in the nonfarm business sector.
The output decline was small, only 0.1 percent;
while the increase in hours was relatively larger, at 3.3 percent (at seasonally-adjusted
annUal rates).
Hourly compensation rose 14.9 percent, and unit labor cost increased 18.8
percent, the biggest increase in this important cost item since the first quarter of 1975.
Durable goods producing industries experienced a larger productivity drop--5.7
percent--the second consecutive quarterly decline., The productivity drop in the fourth
quarter of 1977 (1.7 percent) reflected a larger increase
in hours than output, while
the larger drop in the first quarter of 1978 reflected continued gains in hours (up 4.5
percent) and a decline in output (off 1.4 percent).
Hourly compensation rose 14.0 per-
cent, and unit labor cost increased at a 20.9 percent annual rate, both increases the
L :." "
largest since the first quarter of 1975.
In the nondurable goods producing industries, productivity increased 0.4 percent,
as output rose 1.8 percent and hours increased 1.4 percent.
Hourly compensation went
up 16.2 percent, and unit labor cost was 15.7 percent higher than in the previous quarter.
Fourth Quarter Figures for Nonfinancial Corporations
Fourth quarter productivity and cost measures for the
nonfina~cial
sector were also released today for the fourth quarter of 1977.
corporate
See table B.
Output
per all-employee hour increased 1.1 percent in the fourth quarter of 1977, as output
increased 5.3 percent and hours
ro~e
4.2 percent.
Hourly compensation increased 8.0 per-
cent, while real hourly compensation--which allows for changes in the Consumer Price Index-rose 3.2 percent.
Unit labor cost increased 6.8 percent, while unit profits fell 12.3
percent <at seasonally adjusted-adjusted rates).
\ -
Revised annual measures for 1977 show productivity increased 2.4 percent last year,
as output rose 5.9 percent and hours of all employees increased 3.5 percent.
3.
See table
- 6 -
The 25O-page "Productivity Indexes for Selected Industries 1977 Edition",
BLS Bulletin 1983, has been prepared by the Division of Industry
Productivity Studies and is now available.
This bulletin contains
annual indexes of output per eaployee-hour, output, and employee-hours
for about 65 industries in the nonfarm sector.
ble for most inrlustries through 1976.
The indexes are availa-
BLS Bulletin 1983 Can be ordered
from the Superintendent of Documents, U.S. Government Printing Office,
Washington, D.C. 20402 (Stock No. 029-001-02117-8), GPO Bookstores, or
BLS Regional Offices listed below.
The price is $4.25.
Make checks or "
Money Orders payable to Superintendent of Documents.
L _. ________________________~--------------------------------------------------
REGION I - BOSTON
1603 JFK Federal Building
Government Center
Boston, Mass. 02203
.'
REGION V - CHICAGO
9th Floor
Federal Office Building
230 S. Dearborn Street
Chicago, 111. 60604
REGION II - NEW YORK
Suite 3400
1515 Broadway
New York, N.Y. 10036
REGION VI - DALLAS
Second Floor
555 Griffin Square Building
Dallas, Tex. 75202
REGION III - PHILADELPHIA
3535 Market Street
P.O. Box 13309
Philadelphia, Pa. 19101
REGIONS VII & VIII - KANSAS ClTY
911 Walnut Street
Kansas City, Mo. 64106
REGION IV - ATLANTA
1371 Peachtree Street, N.!.
Atlanta, Ga. 30309
REGIONS IX & X - SAN FRANCISCO
450 Golden Gate Avenue
Box 36017
San Francisco, Calif. 94102
.
"
"
TA~L~
' H~JRLY
OUTPUT PER
HOUl"'
OF All PfRSON!>
YF j\f~ 111m
QUARTEP
----------------
1. PRIVATE BUSINlS~ SECTOR, ALL PERSONS I PRODUCTIVITY.
COMPENSATION. UNIT LABOP ' CO~T. AND PRICES. SEASONAllY AOJUSTED
OU1PU1
HOURS
OF ' ALL
PERSO"lS
COMPF'NSAnON PER
HOI/R!I)
20&.31'1
211.61'1
'116.0
IV
11 0 .51'1
113.0 '
, 113.1)1'1
113.91'1
ANNUAL
119.,SR
134.1R
119.7P
137.11'
1978
131-.3
UNIT NONLABOR PAYMENTS(3)
IMPLICIT
'. PRICE
DEFLATOR
'-.:
----------------------------
I~DEXES
134.0
135.1
13f.1R
I
I I
I I I
UNIT
L'BOR
• COST
-------------------------------------------------------------------1967=100
'
11f1.'1
\"lH.6
.120.2
f20.8H
1917
REAL
COMPENSATION PE~
HOUR!?)
J79.7
1112.1R
160'.4
163.0
167.0
169.01'1
171.61'1
111.9
179.01'1
Jb4.9R
114.1R :
N.A. 1l3)
189.9P
162.ttP
1110.6P
4.,4
1.2
5.2
5.21'1
~70.0H
1l1.f;R
1 f1. 0
111.9
118.111'1
112.7
? 14. OR
lIlt.SP
?~7.4P
115.2
1111.4~
110.1 '
113~ 1
17~.4
pt::RCENT CHANGE FROM PREVious QUARTER AT ANNUAL RATl!S)
1917
3.11'1
9.6R
-0.2
3.51'1
11.3R
6.5
11 •• 1'1
1.11'1
2.!lR
-2.1
3.?R
2.91'1
S.3R
1.SR
2.9
5.31'1
2.41'1
6.f,
,l 0.2
4.91'1
2.31'1
6.11'1
3.11'1
111.31'
-14.61'
6.9P
1.1
IV
5.1R
-1.0
5.31'1
2.31'1
I\~'NUAL
2.6H.
6.1H
3.4R
8.91'1
I
-3'.61'
-1.8P
1.9P
14.0P
J
II
III
1918
--------------------1971
I
II
III
!II
197t1
SEE. FOOTNOTES
R=R£VISEO
P .. PRELI"'!NARY
'1.6
8.5
5.2
5.9R
.
PERCENT CHANGE. FROM CORRfSPONDIN6 QUARTER OF PREVIOI/S YEAR!'"
2.11'1
9.4
3.1\
1I.i4R
3.0~
5.1
'5.,8
6.3
7.3k
3.71'1
4.1
2.6101
h.ll-1
0-.7P
4.41'
3.ft
1.9
?~
8.8
II.SR
3.3
1.9R
2.1)
1.7
6.2
6.8
6.1
5.31'1
1.6
3.8
6.01'1
4.5
5.1
5.3
5.51'1
3.4R
8.91'1
2.31'1
tt.IR
3.11'1
5.1
3.6P
9.1 P
8 •• 1'
1.5P
6.1P
N.A. ClJ'
fOlLO~IN& TAHLE-~-------------------------------------
APQIL 2!;.1918
SOURCE: RuREAU OF L~ROR STATISTICS
.
N.A.(3)
5.1
.
"
.
'
«
.''.
TAl'lL!: 2 . rJ 0;" '~ f.I'" HU SI NfSS !- ECTOR.
HOl'!O( U
Ci.l ~IPt.;,jSATlON . LIN IT U HHW CO c;f,
VF M l
t.~' U
GIlT P II T
OUTP I.' T I'f':f'
hl) ' lw
Q IJ b ~Hf'
ilF
AL L Pf.[<50NS
t-tOUiol S
OF ALL
PERSONS
" f,
ALL PfR !> ONS: PROOUClTVITV,
AND PRIC ES, SF:A SON ALLV f,DJ IJ STED
C: O"'P ~ N~ 4-
TJON PF J'<
REAL
COMPf. NS a.TION P E ~
H O IJ ~ I ? )
H(lI IP (1)
UN I r NONlAt'ill R PAYMF N TS I l)
I.IN IT
LA Hf)R
cnST
IMPLI CIT
PR I CE
DEF L ATO R
------- ----·------ ·------------------- 1NOO~J%7;lii() ---------------------------------.
1977
l ib . :i .
13 1. (,
1) 4."
;:»1. 61'
?16. 0 P
li S. J
11 " .0
1l OJ. 7R
1 H,. ", R
176.0
1714.9
180 .5
lR3.0 R
115.7
N.A.1l1)
117. ~
13h.1I
IV
11H. tJ ~
\::I" • ~~
"JlHi l ' AL
J H ·, .'i 'l
13!>. CR
11 5 . "
?1 !1 .0
H7.H'
IJ-'.,,~
117.h>'
??,' .8P
1 9 1 11
11 t- . vP
7n 4 . <:' R
113.4
11!:>.6
11 5 .9
11 6 . 9 11
I
1I
IJJ
7n8.11~
-----------------------PERnNTcHANGE~P'iifVIoUs (hJARTI:: ~T4N;:; II Al
166.9P
179.7R
162.91>
173.ClP
190.4~
160.RP
lRII.3P
9.5
4.b ll
11.3R
2.7R
6 • .3
R,OR
7."R
7.5
-I.IR
TIl
d .1i
4.H
1 '1
2 . 314
5 • ., ..
3 .3~
8.7R
2.3H
3.4R
h.A.
3.5
AN.... UIIl
('. i! 11
6.''111
3 .7
R.RH
??P
-3.3 1"
-1.0>'
19 71\
·0.9
2.4 1'
13.2P-
N.A. (13)
1~6. 3
RATE (5) - - - - - - - - - - - - - - - - - - -
0.6 .
3.iI
I
II
157.7
16 0 .7
16 Cl.6
17?7
I 75.f'>
117 .5A
4.1 R
1977
...
-----
5.8~
".4
17.01'
-2. 2 R
9.0
14./\
1.4P
1.5
7.e;
7.n
4.311
3. 5 1>
5.4P
-13.RP
".4P
---- -------------------~l~CHAN G£ FI?O .. CORf< fSPQNln"'C; QUART ER OF PPlVloi:iS Y E A Q i f ; , - - - - - - - - - - - - - - - -
19 77
50!
7.?
9.3
.t.2
"> .7
4.11
tI.8
l.~
6 .1
1.?r{
't.t
4.2
8.5
1.7
6 .~
2 . 9'fJ
e.~
1 .11
5."1'
i:. . 2r~
6 .0 ~
.3 .• 7
P .Il'~
2.2q
t: .'l~
4.0,,,
3.6"
9.1P
.i' . H
rr
I II
IV
a Ni~UAL
'91H
----
1."
I. ')
---_._ --
SEE FOOTN IH E.S j'nLl o,. I lIt(; TIlIiLE
Rakf.: vtC;FO
..
~.
I</.A. Cl3)
6.3
1.1
4.6
1. 3.
2. 5
4.4
5. 5 P
0; .6
S.1l
5 .6
6."
3.o;p
5.4J<
8.?P
·2.3P
f;.3P
--
APRIL Z5,lcHII
"""'~ELI"'l!\fA",/,
.'.
-
.
SOI./HCE: AUPEAU OF lAROR STATISTICS
,
~
,
"
TABLE 3. NONFINA~CIAL CORPORATIONS' PRODUCTTVITY, HOURLY COMPENSATlnN
UNIT LARO'k COST, UNIT PROFITS. AND "'P.ICf~. SfASONALL Y ADJUSTED
lMPLOYEE HOUHLY
,",DURS CDMPEN!'iA-
OUTPUT.
YIi~ H
ANIl
QIJAHTEH
PER -tL-
OllTPIiT
TIrJN
I: fo4P ttlYEE
~OUk
III
-------113.4
IV
l1A.0
I l7..2
A"'NUAL
117.;1
133.9
lIb.?
II
III
1917
117.S
COMPEN~
SATltiN(2)
1
118.9
138.0
119.4
1 '+1.4 .
120.7
IV
121.IP
IINNUAL
11'i.<JR
141."H
5.2
.11 ...
IV
4.3
2.0
-2.9
6.R·
2.9
-1).1
ANNUAL
3.7
l.7
I
II
f..1)
t.9
III
113.2
163.4 ·
103.7
167.8
170.9
173.i;
175.3 P
185.IP
,123.1
119.1P ·
' I96.8H
IAI.AR
115.5R
20b.7
210.S
116.1
116.4
~14.7
21t1.3?
117.0H
111. 'II>
118.3
212.3
117.0"
177.0R
6.3
2.4
1.0
12.1
tI."
7.9
6.5
3.flH
2.314
4 ...
166.,+
115.5
17l • •,
RATEI~)
21.3
7.0
9.5
8.9
3.0
3.5
5.3
10.3
-:n.7
4.1
3.9
5.7
5.1
-5.9
1.4
3.8
3.tI
8.b
2.7
4.7
0.7
3.6
20.9
5.2
Y.4
3.]
12.8
... 21>
b .• 4
5.2
}(J .1
tI.1
7.<;
-1.2
2.1R
5.5
2.7
3.5
7.6
6.1
6.4P
-11.6
5J.5
29.1
-12 •.]P
5.6H
2.0R
'>.J
3.0;,
H.<l
1.7
3.ll>
b.8P
1. 1
-1.3
6.7
5.4P
2.3
6.'+R
3.SR
3.6
3.7
4.310'
--
~' lRClI\tT CHANGE H~f)M CuRHESPO",[I t Nr; QiJARTE~ OF PRFV I OilS YEA~ I")
J
IT
III
4.1
7..3
~.?
IV
2.1
~.3
J.t
5.0
4.0
3.1
ANIIIUAL
:h1
7.1
3.8
?.3
1.7
2.3
3.31"
,+.7
2.'+
5.5
b.I
1.5P
3.t!
3.1
4.01"
2.'+R
6.7P
AT ANNUAL
00164.3
5.'1
10 ...
0;,.'1
f,. "
~U~prER
IA2.3
160.5
Ib2.1
2.Y
2."
?4R
172.1
1.7 9.0.
180.6
11".1
118.,+
i18.6
11".I:IP
jlNI~UAL
P=P RELJ"'INARY
190.1
195.0
194.3
197.5
200.1P
It'+.OR
113.9
176.2
177.4
180 •..lP
s.op
FOOTI\t~TES
IMPLICIT
PRICE
DEFLATOH
7.7
,------------
SEE
170.3
172.5
176.8
113.1
115.0
117.7
107.• 0
166.3
0.0
R.~EVISEO
161~.(j
114.3
,+.2"
ft"'NUAL
1117.1
188.3
190.1
194.1
194.9
:'.31>
IV
l.t 0)
11,+.J
~.Cl
I
I I .
lIt
(9)
11'5.?
4.4
1.1 p
1977
I)NIT
PROFITS
11'+.7
115.5
IV
1976
TOUL
UNIT
COST
'.
113.0
"'fRCENT CHANGE FRDM PREVIOUS
1917
UNIT
NDNLABOH
COST(8)
167.7
164.5
166.A
171.2
IJ4.4
I I
III
1
II
III
LABDR
CDST
189.1
193.2
196.9
700.6
114.1
143.1
145.01>
1916
liN IT
INDEltfS 1"61=100
131.8
13,+.0
13!).0
1·3 ,!).0
1916
REAL
HOURLY
111.0
6.3
~.9
FOLLuwING TARLE
3.~
Il.I
1.511
8.4
c.2'"
9.1
3.?R
3.9H
8."
2.7
tI.9
.'
6~9
2.9
4.9
5.5
71.9
30.9
5.8
~.6
".5
0.4
-n.o;,
0.8
1.9
-0.7
'+.9
'+. '1
n.7
3.6
lO.9
"i.?
6 • ."
3.9
7.1
:i. ?
';'8.3
0.4
4.6
5.5
'+."
11.31"
.5.6
2.0R
~.3
1.3
4.2
.
.
1• I
9.3
'9.0
3.3
H.R
2.0R
2.0
b.9P
2.0p
S.3P
3.9
3.1P
6.1
fI.l
5.1
.4.71"
Il.9
2.3
6.4R
3.5R
5.6R
6-: :J
5~~
5.0
5.41"
b.
/lPRIL 25.1978
B'JHEAU OF L6ROR STlTISTICS
SOlJ~CE:
.
'.
lAHlE
~.
~ANUfACTUPJNG
C OM~E N~AT(U N .
YfA~
AI~U
QIlj\~ TfR
I)Ulf"''Ir
uUT"O)l
PE~
H(lt!~
Of !ILL
U~IT
SEeTU~:
LA8UH
CO~T.
HOUke;
',F"
ALL
f' EI<SONS
(7)
I'"EI'SON~
..
PRooI,eTlvJTY. HOU~LY
SfASnNALLY ADJUSTED
C""PF"NSAlIO N l>E~
HEAL
cn",PENC;I\TJON PF:R
"NI T
HnU ~(ll
1-1 011 R ( 2 )
enSl
lI\RO~
.
-------------------------------------------y;.oEi~~7;.1O-O--------------------------------------------------~,-----------------
lIT
176.·c
i27.A
l'I
1 ,;?7 . '"
1':9.4
'911.4
I Ilr;. '~
100.4
101.5
l;>b.~
Ill. 1
IOf'l.'
712.0R
11".14
1;;>1).""
1 2 ~.4'"
102.1P
??5.5P
N.A. (13)
1;>':>.(1
1977
1J
j\~' NI:JAL
19"{8
-------I'Hf
---.--------T
II
III
1 '/
- 11 .'1
II . 'Nil Al
l""'~
173.0
llf>."
1'>".:1
?n6.\
111• • 4
7}0.1
713.6
\\f,.2
?11.1I~
IIf>.7R
117 .6
lb4.9
1"".5
If,7.2
I 7·n. 8
167.0
""
I1A.4P
,.;E~CfNr-CHA"l(,f ~· RO., I>REVlnus QvA~TH' II f a',NIIAL IVllE!51
I•• I
3.14
lj
~.!
ll.c
5 .<:
,:>.f,
3.~'"
II. I
0.4
4.<;
2.e.
'>.9
,.f,
-3 • .i"
-O.If'
~.
:J. J;.>
12.M
R.t
".9
H.llk
8.H
14.9P
4.111
-0.7
1.7k
1.;:>1<
7.?
N.A. (13)
12.7
4.1
1.6
q-.OH
6.5
IIl.AP
-----------------------------~CE~~~FP~;-c~P~~(J NDI~UARl[P_uF~TOOS_VfA R~-)-------------------------~------
r
?J
...·4
II
1.5
~
r.n
9.0
1.n
1.9
4.(1
8.4
).f,~
8.f,
11.9
7.1
"I.~
r.i?
IJJ
J.ri
..,
5.9
Tv
?o
".1~
".f.
/l1,'NUlll
~."£
".9
3.f.
1971
·4 •.
'·.1 f'
------------------------------------------------------------SF!:. FOOTNOTES rIlLLO r/ pJt;
~.21>
l'HN
TA iiL~
1-.
9.41>
fTl>
~.1\.(\3)
".7
".AR
".5
A.2P
------------------------------------------------------
.
APRtL ?5.I'HI;
SOHNeE: 'HJ~f. AU OF lAROR STATISTICS
R=~[VJC;fl)
P=PHt::lt .. I'I/~ RY
.
\.>1
1,.5
".R
," J
TAl'll!: - 5." f)1 !RA I.i L t:: MAIII UF IICTIJR I N6 SfCT011: ' PRODUr.TI V ITY, tlOUR L "
C0" r' f N'j;\TION, i./NIT LA~()P C(lsr, SEAS('NIII.LY ADJUST E D!l))
HEll,
YfA~
OliT "
AN D
I)
I
~t::h
our":>UT
I II
... ~ I.J ~
OIJARTf R
Il f
AU ,
.'f1fJRS
nr ALL
PF R SO III S
~ ' f. I'I S (l N,~
C\>MPFNSAr 1 1.)'" PEII
'iOUR(l)
COl'lPlHSATIM., PER
HOUR(2)
UNIT
LA.,OR
C.OST
--------------------------------.....-------------------------'
l N0EXES
lQ71
t;.,
")9.6
lU.3'
H: C'.O
;>]3.1:1
I n.R
} 'r4.Q
121l./'IP
r O,3 .. 2P
;>;;>6. 9'~
N .. A., (13)
,, 11l7.1P
A~JN""AL
l? .... c!
120 .. 91-'-
I,
t911
f't::wCE~l
I
-l.~
1I
b.1
-3 ,. ')
HI
A-rJNua,l
lQ,la
~
IV
A"'N.UAL
l'H8
"
T
---------------~.
SEE FOOTNO'TES I'olLLowI'J(;
PPEVll)liS
" . ,0;
7 0--7 • Ii
712.3
QU:ARTE~
- 13.;;>
'1,.b
8.:tR
3.41./
J .f:
b.4
4.,1'1
. &.5 .
-5... T t>
-1.41" ,
. 4.51./
t il. of>
FR') ""
?n
CnQ;:U;5Pb~n)riii;;(iuwER Of
PHfIIJOl/S
} .~
~._ 2
3. :l
' 1i.3
1.2
r .1
1.1'>
boo:!
",.7
' A ' .R
H.,}'
~.f)
,tl.,3
'r . t!-
t. ~ 1
1J'.7.
1.i>H
l.S,
;>.1P
.J .6
b ,••
4 .. A
tr .5
;;>.0
b.l'"
~.
II. !"
,
6.1;'
?.1
?- .. 3
IhA. t13J
9.41>
lO'.9P
y[jI~(,.t
" .. 2
".~
1.2
7.5
".9
A .. ~I"
t,,'lL[ 1.>,.
I\CPIHL 2~'1978
,
SouRCE: RIJREAU OF L4RO~- 5Y4TISTICS:
. *
~
,
..<.:>..:;
"'~'J
N.A..1I3)
R=Hf: H5FIJ
,, '
P=j;>RE1.1MINARY
1 O.lI~
5 •.1
i.e;
17~.O
1-5.0
3.,3
!,.A.
"' .. 2
~
l7-4.R
4.5R
~.o'"
H.7-
17;;>.!>
l ' "l..Y
A.1 ANNUAL FlI'tTE 15-1
0.'
1I'.7R
IJ£I~~[IIfT-CrlA"'l.;F
..,
FIU~
,.8
--------.,..
I
H
III
CHANGE
9 "".799.'"
1::;.4-
-1.7H
TV '
1'177
2J!h3
102.1
P2."R
II , • ()
12'1.8
li!4.0
1'2'>.2
------,----.---.,.
;-.
100.6
l?i}.J
12?1
1978
--.------------' ----
'
117. ;:!
117.4
111."1./
Ilfl . 6
I
II
III
PI
123.~
lQ67=lOO
I
01
!'
TMiLE 6.' fljONUlJRAHLE "ANlJFACTURI~GC;ECTOR: PRODUCTIVITY, HOURLY
C( H~Pt_ NSA TIIJN, UN IT L AHOR COST, ~J::AS('lNALL Y ADJU~ TED Il?)
REAL
'(fAR
AND
(llIA~TER
OUTPUT ~Ek
HOUP
OF ALL ~ER~nNS
(HI rpUT
PI
HOI/PS
OF ALL
PE~SONS
cnMPFN~A
Tro~ pER
-HOIJR (I)
COMPENSIITION PER
HOlJR (2)
-------------------------------------------I NOfx ESiJCl6~P_----------------------
l<n7
I
132.6
I J
D2.fl
III
IV
ANNUI>L
197B
r.OST
-----------------------------"---------
1(10.f>i~
c04.0
706.f.
210.6
?14.3P
115.2
114.2
ll5.0
U5.7
151.'1 ""
15'T.6
155.7
158.4H
IJ4.9
100.3
?08.9R
115.IR
155.3
Db.BP
101.OR
??2.5p
N.A. (13)
164.3P
1 0-1 • 1
100.0
115.3R
131.7
13,+.7
13!:1.3
IJ6.2H
134.':>
135.':>'"
13':>.~
UNIT
LA130R
'l9.1
-----'---------~--------------------------------------------------------------------------"'ERC~Nr CHANGE FROM PREVIOUS QIJAPTEP Al ANNUAL RATF(5)
1977
u.3rl
1.2
1.7
3.3
2.8R
,7. ;>
-4.1
2.5f!
3.1
!>.I
'"J.. . il
n ... ~
I.~t>
2."
II
III
III
A~IN lj AL
1978
(1.5
1.1
4.6
1.4P
ll.8
5.3
7.9
7.3f!
-3.7
7.11'1
?5R
9.0
4.7
0.2
7.0f!
~.9
?eI
';.7
16.?p
~.2R
!'oj.A.II])
1".7R
-------------------------------------------------------------------------------------------------------------------------------PFHCENT CHANGE
QUARTfR OF PREVIOUS
FAO~
III
J.1l
3.2
4.7
!).6
IV
;>.7
5.7~
ANN lJ A-L
3 .1
".1
2.21"
J.YP
1971
7. .9
II
19f1l
£l .U
C O ~HES~ ON0 1~G
YfIlPI~)
0.3
2.7
7.5_
10.0
;>.4R
B./)
3.<1
1.91'1
2.1
1.3
H.9
7.1
:i.8
8.9
_2.0
'i.lP
1.7'"
N.A. (13)
b.1l
(0,.7
5.7
5.2R
'i. -f
(0,.8"
SF.~nTNUTEs~cLl(.~I~T;hL ~ -;:_---------------------------------~---------------------------------------------------------
~=R~VI~fD
p"f>REL
AP~IL 2!),1978
r'AIIljA~Y
<;OI'~CE:
.
RIJ~~AU
OF
LAROR STATISTICS
FOOTNOTES, TABLES 1-6
SOURCE: Output data from the Bureau of Economic Analysis, u.s. Department of
Commerce, and the Federal Reserve Board. Compensation and hours data from the Bureau
of Labor Statistics, U.S. Depattment of Labor, and th,e Bureau of Economic Analysis.
..
'
'.
(1)
Wages and salaries of employees plus employers' contributions for social insurance
and private benefit plans. Except for nonfinancial corporations, where there are
no self-eaployed, data also include an e.tt.ate of wages, salaries, and suppleaental
payments for the self-eaployed.
(2)
Compensation per hour adjusted for changes in the Consumer Price Index.
(3)
Nonlabor payments include rpofits, depreciation, interest, rental income, and indirect
taxes.
(4)
Current dollar gross product di?ided by constant dollar gross product.
(5)
Percent change compounded at annual rate from original data rather than index numbers.
(6)
Current quarter divided by comparable quarter a year ago.
(7)
Quarterly measures adjusted to annual estimates of output (gross product originating)
from the Bureau of Economic Analysis, U.S. Department of Commerce.
(8)
Unit nonlabor costs include depreciation, interest, and indirect taxes.
(9)
Total unit costs is the sum of labor and non-labor costs.
(10)
Unit profits include corporate profits and inventory valuation adjustment.
(11)
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; clay, glass, !and stone
products; furniture and fixtures; and miscellaneous manufactures.
(12)
The nondurable sector includes the following 2-digit SIC industries: Textile mill
products; apparel products; leather and leather products; paper and paper products;
p~inting and publishing; chemicals and chemical products; petroleum products; rubber
and plastic products; foods; and tobacco products.
(13)
Scheduling of the release of the new Consumer Price Index for all urban consumers
(CPI-U) precludes the use of real hourly compensation (hourly compensation adjusted
for quarterly 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.
rHRRT 1. PRODUCTIVITY, HOURLY
COMPENSRTION UNIT COSTS RND PRICES
PRIVRTE BUSINESS SECTOR
(PERCENT CHRNGE FROM PRECEDING
QURRTER RT RNNURL RRTE)
,,
,
,,
,
,,,
...-
,,
,,
,,,
15
,,
OUTPUT PER HOUR OF RLL PERSONS
,,
,
------~-------------~--~----------~-------------------------~--------------~-------------.---,,
,,
,,
I
,
,,
,"
-3.6
,
,,
,,
_____________ ~--------------~ _____________ !-----------__ ~- ____________ ~--------- ____ ~ ______ Jl ____ _
I
I
I
I
I
I
I
I
I
•
I
I
'
,
"
:
:
,,
14.0
COMPENSRTION PER HOUR OF RLL PERSONS
,,
,,
,,
,,,
-------------~---------.
,
_____________ .1._
,,
,,
18.3
,,
,,
,,
~ -----,-------------~-------------r------------,,
,,
,,,
,,
,,
,
,,
------.... -.--- ,---------- UN 1 T NONLRBOR
I
I
I
,
,,,
,,
,,,
,
,
EN TS ----.. -----;..-:--.------------~------------,,
,,,
,,
,,
,,,
,
,
,
,,
,,
---1---------~---~-------------r------------,,
,,
,,
,,
I
--t---------,:
:,,
I
I
--i--------------~------- ----~-------------
:,
,:
,:,
,,
,,
,
:,,
I
I
-14-.0
I
IMPLICIT PRICE OEFLRTOR
-------------,----------~I
,,,:
,
,:,
,,
,
I
-5
~10
:l
15
10
5
o
20
15
10
I
.
I
I
.
I
------------
,
"
-5
35
30
25
20
15
10
5
-5
20
15
---------T-------------,--------~-----~---~--------I
I
•
•
o
o
•
I
I
•
I
•
--~----------~-------------~-------------~--~----------~-------------~--------------~
,,:
,
o
5
'
~----------
T------£-----
J,_____________ JL_____________
,
,,
,
,,,
,,
,,
--- - ---------~----
------~------
10
10
5
o
1972
1973
1974
1975
1976
1977
1978
APR 25. 1978
CHRRT2. PRODUCTIVITY. HOURLY
COMPENSRTION. UNIT COSTS RND PRICES
NONFRRM BUSINESS SECTOR
(PERCENT CHRNGE FROM PRECEDING
QURRTER RT RNNURL RRTE)
OUTPUT PER HOUR OF RLL PERSONS
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
15
10
-----------t--------------r-------------r----"l,....~----1 -- -----------i-------------r------'-- '---'--'
I
I
I
'5
1
-3.3
0
I
...".
I
I
I
-5
I
I
.,
I
•
I
•
I
•
•
I
•
-10
15
----------~-------------7-------------t-------------1-------------7-------------~------'+---,--1
I
I
:
COMPENSRTION PER HOUR OF RLL PERSONS
I
I
I
I
I
I
I
I
I
1
I
I
I
-------------~---------I
UN IT LRBOR COST
I
I
I
I
I
:
..
:
13.2
I '
t
~
10
5
0
25
17.0
20
I
I
I
------~-------------~-------------~------I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
15
-------------~----,~
--.--,~
I
10
5
0
I
I
~"
I
I
I
I
,
I
I
I
I
I
I
I
-5
30
-----------"-i--------------:--------------t-------------1-~-----------+-:..-----------~------:
NTS::
I
•
I
I
I
I
•
I
•
•
I
I
I
I
------------.----.--------~----------I
I
"
•
I
I
.
I
I
•
I
• •
I
t
I
'
I
I
I
I
I
I
I
'
•
I
I
I
.. -
------------~------------,PIr't---,-+--"',-~~-,
I
20
~-------------~-------------~------•
I
I
•
I
I
•
25
I
I
I
•
•
15
I
10
5
•
•
I
I
I
I
I
I
0
I
-5
20
,
----------t-------------i--------------t-------------~-------------~-------------~+---·-t-
OEFLRTOR
1
I
:
I
-------------T------------ I
I
•
I
I
I
I
:
.
I
•
I
I
I
I
I
I
----------~-----------,-------------~-------------~------"
I
I
"
•
I
I
I
I
-13.8
1
I
6.-4
15
10
5
0
CHRRT 3.
PRODUCTIVITY. HOURLY
COMPENSRTION. UNIT COSTS RND PRICES
NONFINRNCIRL CDRPORRTIONS
(PERCENT CHRNGE FROM SRME
QURRTER R YERR RGO)
15
I
I
I
:
OUTPUT PER RLL-EMPLOYEE HOUR
I
I
I
10
I
• •
•
-------------~--------------~-------------.-------------~-------------~-------------~------------I
I
I
,
I
I
IV
I
I
I
I
I
I
3.3
I
I
I
I
5
I
I
I
.
,l
o
-5
'
.
I
I
I
I
I
-------------~--------------~-------------y-----I
15
IV
.
COMPEN5RTION PER RLL-EMPLOYEE HOUR
8.9
I
10
--~-------------r-------------
•I
S
o
IV
5.3
I
I
-------------~--------------~-------------
I
I
--------~-------------r------------I
I
I
I
:
I
I
I
----+-------
l'
15
10
S
I
I
I
I
I
I ,
I
I
I
I
I
I
I
I
I
I
t
UNIT NONLRBOR PRYMENT5
I
I
I
•
-------------~--------------r-------------~------------,-----•
•
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
-------------~--------------~-------------~-----------I
I
I
---:
.......
:
I
:
I
I
I
I
I
o
2S
~-------------r------------I
I
I
I
I
I
I
I
I
I
I
I
I
I
15
I
I
IV
I
I
-------------~-----------~------------I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
5
I
I
I
I
o
I
I
I
I
-5
,
,
:
15
I
I
I
I
,
,,
I
-------------·-------------~-------------r--I
I
J
,
I
I
I
I
,
I
I
I
I
I
I
,
I
I
I
--------~-------
JV
I
----~--------------~------------I
"
•
I
,
10
I
I
,,
IMPLICIT
20
I
:I
10
5.4
I
5
I
I
I
1971
. 1972
1973
1974
o
1975
1976
1977
APR 25.
1978
CHART 4 .
UNIT COSTS. UNIT PROFITS. AND PRICES
NONFINANCIAL CORPORATIONS
(PERCENT CHANGE FROM SAME
QUARTER A YEAR AGO)
,
-------------i---------,
I
,
,,
,,
------~-------------~-------------~------------,,
UNlT LABOR
,
· _____________ 4 _____________ ~ ___________ _
I
---'--
,
I
I
I
,
,
t
•
•
•
•
:I
:,
5.3
,,
,
--------~-------------~------------,,
,
I
•
20
j
10
I
30
-------------4-------------~-------------~-------------~-------------~-------------~------------•
. ., .
•
UN IT NONLABOR
,
:
"
•
•
I
'
,
:
-------------i--------------~-------------t-----•
•
I
I
I
.
{
: :
: :
,
,,
,,
I
I
t
•
•
I
•
I
•
•
I
I
I
•
I
-----------~-------------~------------,
,,
,,
I
,
IV
'3.1
,
-------------i--------------~-------------t-------------~-------------~----------~--~-------------------------t-------------~--------------~-------------~-------------~-------------~------------
L-~-:-:-=-=-=- :-:-: -: -:-t~-:-:-:-:-=-=- : -=-=-=-=~d~ :~:-:~:~:-:-~=-_~_~_-T_-1C-~- S- - - - - - - - - -·L~-_-_-_-_-_-_-~-:-:-:-: -±~-: :- : -: -: -: -: -~: ~=- =-]~- _-_-_-_- _-_-=~=~=-7~-J"
..
: :
: :
,,
,
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
•
•
I
•
II
I
II
II
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
•
-----1-I
100
80
70
•
I
I
I
"
I
•
----------~------------
I
I
•
I
I
I
I
•
I
•
•
•
•
I
•
I
I
I
I
•
I
60
50
I..
40
I
I
I
I
I
•
30
UN I T PROf ITS
-----------t------ ------~---- --------~-----------I
I
I
.
I
I
I
:
I
I
•
I
•
: : :
-------------r-------------,--------------r-------------T----------,-----'
,,
•
I
I
I
•
,
-------------t-------------~--------------~------I
,
,
,,
,
,,
,
I
,
,,
,
1972
,
1973
1974
1V
I
,,
,,,
:,
,,
------~------------
,,,
,,
,,.
,,I-------------~-----------,
,,,
,,
,
,
,,
,
-10
20
I
I
-------------t----------
1971
j
o
I
I
.
I
•
I
I
-------------~-------------~--------------~-------------~------I
•
I
I
I
I
I
I
I
10
--~-------------~-------------
I
I
20
---------~-------------~------------I
I
I
o
1975
1976
1977
APR 25. 1978
20
10
o
-10
-20
-30
@FedFRASER