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United States
Department
of Labor
Washington, D.C. 20212
Bureau of Labor Statistics
(2"1)
~.D .
(202) 52' - loll
(2~<) 13) _1184
lIoyl~
I:om~
~sn
~13 - 91H
L.J . Fulco
71-675
11; 00 A . ~. EDT
F<lday, July 29, Ion
fa~ ~£LEA S[ :
PP.<mCCTIVITY AND cnSTS
hlv.:e
~usl n eu .
Non!ar",
~u.I"'",
S~cond
6 . 1 percent
Incuu~
q"U"te<1v Incroue In
In
t~e
In
th ~
noun
Uu,
1.~
~uarter .
T~c productlv!'~
slnc. 'h second quorteT of
nonlan>. huslness
Output lncnued
en<! ·!anufactu<lng
e~c.o <,
S~CtoTS
O""' n . r 1977
d ec line renee o,,", a
t9~9.
labor proouctlvity--output peT t.>u< 01 e ll
OUC<nt " bU. hoors po1d foe
ro ~ .
R. 2 pueent ovu f1ut-
The pe<xluc<lvity and cos . . ..."..,u. Conte toed It> thlo pu .. eel.u . . lnoorpouu
the «v toed "u,ur.. of grou notional pm<luct a n" co,"penoaUon fOT the period
sine. 1971i roleued ~y the '\uu eu o' f.eonOOl\e "'nal~s1 s (~l'Al of tll<o t'.S . D~p.1.rt·
u n. of C""",un . . ?u t of th. utuhr aMual uviaion or . ho: ~tl"""t Inc<>ee
.nd hodu« Account. . Th ~ full pe~!<>d e H ec ted by the revl l lon. In th p e l" . . .
~u"!n .... nonfe .... bu.ln ... , e nd nonft""ncial corporate ott'"U au <ontlln od In
tl~leo 1, 7 •• nd } erod a ppondlJr. .. b l es I, 2, And 3.
In ed~ itl"" to introducln~
'he rntoO<l. un".1 OntCU' ~nd co",pen"'!o" ...,uuu. tOT
,,,ul. durabl l , lod
nondueable m>.nuh«uring oec tou frooo. !I'A . 'he !u r oau of Lahnc Sutlotlc. aho
I.JoprovOod th~ Interpolation techniqui uud In devolopin ~ quar ur1y outp.l' 'UUUTC O
for the . . ne t ou . >'hlen d ho. s 'he ~Mlr~ oulu. DatI fro .. 1974 fo e" . .d 10
found in toble. 4-6 and app.n~!x ubl . . 4 _6. Cop1 .. o ! the <Hhed ..... ueu au
. v.ll ~bl •. nn <e quut f eo., t~ .. OHio . o f Productivity .nd feehnolorr . tureau of
!.abor Stotistlc • • "ashln! t on. D.C . 10212 . (tdephone 202 523-"2H).
t"'"
In .... nufooturlns, productivity Incuas*<!
refleeUn~
suoncl
'.0
"uc~nt
In t h
UOOM
~uanor,
bou..... of 14.0 percen, .. nd 9 . 6 pereent In ou t put.ond nou,.., r . . peo-
~UHtH
"u,,,«. appuu In t able A; de t all. ·ou .hown In ublu 1-6 .
TaUe A. P . oductl~lty and Cooto:
(~e ••• nally AdJu.ted)
Perce<lt Cb.o.nRe n
Annual b <o
Rul
See,or
P,ooduetlvlty
Untt
!.abo,
Coot
Eou<ly
Co.. ~ •• t!on
flut Quarter 1917
..'.0
Priva.e bu.!nen
- 1.8
Nonf.on bus!ne. .
"... nuhe ,ur i!ll
~
Durable
,. ,
'.0
Nondu . abh
,. ,
,,...,
,. ,
'"
Corpor~t1<mo
Seeoncl Ou,ane< 1977
..,
,. ,
,..
.. ,
'-'
'-'
_2. J
17. ~
10.7
10.1
'-'
Fi.. , Qu.arte' 1977
'-'
'-'
PRELIMI'!ARY
Duo a bh
Nondunbh
'-'
'-'
LO
'-'
FiUt Ouarte r 1976
..,
-1.0
-4.2
'-'
•••
Second Qunte' 1976 ,. S.eond Quaner 1977
Private buol.!1ua
Nonla~ bu.lne ••
1l,muf.oc t u,in&
,..,.
14.0
RtnS!:D
12.B
'-'
Houn
- 1. 3
-2. 1
'"
..
...... •••,•••.. •••'.' .........
.. , ..'.0, ..,.. , ...
,.. ••• ,.. ,.,
,
('Iutp,,'
Pi.EtlMIMARY
Founh Duarte< 1916
~onll""ncJ.d
Hourly
Co,,penution
,. nUt
'-'
..
,., ,
,. ,.'.0,
,..
'-'
' .0
'.0
'-'
4.7
'-'
Quarter 1917
RtvlSfD
Nonl!nand.. l Corl"'UU,m.
.
•• hv!.ud
"""'ta1 Ro . . . ,
T.~le
197'·]6
5.c~or
•••
~... ""r. .
Ch.u~ •
"
P~o~~o'h·I'y .
1974
·I.....un
Rn.
·3.4
..,
·2. 7
Il.Z
H.'
Prn~~o,j~!tr
·l.~
·<.8
1'""r1 y c., .. ~ r ~"":!on
Unit t.~~r C03t
9 ...
13 .•
12.~
·].9
·S.5
Private !Iu.lnesa SectM
Prod~o,jvl t y
.
C~~.ft ..
t"'I, tabor
~
tton
...
l«>nfu'l l,,"ln.U Oector
•••
'\a,,"! oc,ue In'
h~d~c t tv!'v
..
l~.
•••
If.l
hod~ct!v! . v
+).0
.]. S
Hourly Co"?OnoA, Ion
I'nl t t ~ ~or CO~t
g.1
0.8
ll. S
)).8
Ilourlv
C""'l'~n .. ,
tin It ~.bo"
l«>~flnanohJ
~
ion
L. ,..
..,
•••
'"' '-'
L6
.., •••
'-' '-'
i.~
..,
ILZ
ll . ~
1.1II • 2
;.8
,.,
,.. •••
~.
l~.
Lal>or Co",
"H
~n.
Pal.
Corporulona
anv o.he. ~udrttd7 ur\u .
•••,
.~ ~,,1t
19H
, Prol.
Hourly
Hcurly C.... pen.nlon
6
Z 10. S
Prel.
r,." ,
..,
'"'
'-' ..,
,. , ..,
'.1
'.0
U
'-'
'-'
...
..,
•••
'-'
'"'
0.' ..,
,.. ,.,
•••
'-' ..,
U
In t ho ""cond ~ou u or of 1977 • • •,,"... nti.l rUt
1n
Tho
tor~
i~<" ... ed
hours significantlY
nonf.~
bu.lne •••• etor, whieh
the measure for t ho private bu.lno ••••• tcr .
e~per l.n.ed
a
~ll.r
was no. aff •• ted by the chan,. I n f .<a bour • •nd
bo~r . ,
decline in
produ.ti~ity.
In ,h. . .cond quar . . , "!tn
unusually •• va r e
Moreove r. the ... ond quort,.
nov...
8.2 p.rcent rl •• In
t~.
ahow.d a .mall.r
~EOent
comp.res
bou ~ s
in the fint qua rt eT , a ""riod affooted by th e
~Intor we.t~r.
llourl y co ......." ... tlon --';lUch Includu tho bourly coot of wogoa, ... lui*-,
. upplo",ent al ""ploY"eo< bondi. . , ~nd .,.ploy o~ c<mtdb-utl"". to ...,ployu be~dlt
p lan.--in.,e ued at a 6.3 percer.< annual nte, a .ub..antlaUy .... Uer In"Hs, than
the 1l.7-pucont rho vhleh O«UHe<! I n the pr. ...:!I ... quanu.
.-10 . i n hourly .","por""tlon .Inee th third
~uartor
Th1a " . . the SOIaU ...
191~.
ef
Real hourly <o""penutlen--eo:o.p e,,oulon per ""ur adjulted fe, eha"<tlS in t M
Consuma r Prlca Index--ded I ned 2. J
J.)-? er ce~t
por~ent
rlu on. qua ne. earl1u.
In the .. cond quarte r, c""'/la ud .... It~ 0
Thh "U tlla fiut drop In rul hOYdy C01l-
""nsation I1ne o tho third quann of 1975.
~~!t
houdy
lo~r ~o . t -- "!\teh
CO II ?~ "" 'lor.- - ro ••
5.J-pe~o e r.t
~nnuenoed
h
<"",,,0.
1n beth pr<>duetlvlty and
8.2 pucont during the ...oend
rho one qua . . . . . . . U • ••
.h. Unt q.... rt.r t han I n
by
t~a
Althou~h ~.ly
~uartn .
e""'pued ... lth a
eo"""o ... <1on .oae ,,,,,,a in
. «ond, uolt l.ber coat ro .. 1. . . , panly ovlnA to
the productivity dedlno In t,," lottn por1ed.
th" !J>pl1clt prlco deflator, whkh
co •• a nd unit """labe. pa)'lOeM,
c""'~1"ed,
.how.
tile olfoetl of c"""S" 1n unit labor
. e .. 1.2 percent in the . . ce"d quarter--
at a n a nnual rau--t he blgsnt Incuasa .1nea the tUrd quarter e! 1915.
Productlvl:y declined 0 . 4 percent in the ""nto ..... buo!n. . . . . . tor, . . output
a dvanced 7.8 pueent ..1>11. houu rooo 8.2 percont.
Thh .... tha lar.... lncr. . . .
1n nonfan. boun .ince t he fou«h qurur of 1952.
In tho preceding quarter.
-,ptCd~~tiv1ty
Inc uued S. n p.rcent .
Tho la r s. incre..... In hours w.. ,h* reou lt of
a 6 . 6-pe r eent rise In e=plcynont .nd • 1.6-percont rl •• In overo ge
P.ouTly
co",p.~u tlon
~ e. k ly ~~rl .
increased 7.4 percent in tho <KOnd quart .t , •
<la"ln, of the Il.l-percent r oU of the Hut qu.o rur.
"".UiI
R.... l hourly o""'pen.a U""
dGcl1ned I.] porcent , . . th CPI 1""roue<! lutor t han I>ourly ,""'penu.t1on.
li,,!, labor tcot r ou 7.9 percent In t it. nonfarm hYdeeu •• ctcr. """pulOd
w1th 0 6 . 1- pu"enr rioe one quartu U TU."..
c~nt - - . ftor
Unit ncnlol>or p0J'!llont. ron
~.4
per-
''''' consecutive q.... rterly decllnu--and 'the ,",pHdt prioe ddlatcr
to •• 1,4 p • • • ent .
H.n,,! ac t,,, ins
Produotlvlty jnu .... ~ ' . n por tent 1n t he ucond G",,"ut In ","ufacturlng,
"it" '''''
."",?ued
eonucutlve quar tu ly doelinu In th DUo"r..
of H . O and 9 . 6 percent in output om! 1Iou .. ,
productivity reflecu lnor .... u
tivdy.
This _ . the hunt
1nc r ~ . . ~ I~
and .h* biJ&u,
~.ourly
The In.rea,," In
In~ruoe
In ou'put
houro paid for
s1n~e
c","penu tlon TOU 6.S puceM In
t h~
the D.2-peTCent lru::uao. of .he Hut quuter.
. In~*
rup*~
the .hlrd quottot o f 1975
,h* Hut quorter
ot
19~6 .
.... ~nd quaruT, lu. , han half
Real hou rly compen ... Uon dec«.. . ed
2.1 pe t cont, c",,"p.ued with a 4 . I _percon' TI. . one Q"1rte t bebn.
"It h a Ilgnifl-
cant leprov ..... n< in pt odu odv ity and 0 d ..... ln!l of hourly cO<I?e" ... Uon, unit hho,
coa'
'0"
only 2.4 pereen. In the . .."nd quon e r, oO:Op&red with a 13.4-pe1"01"t rbe
o qua, t., b.fot • •
In dUTa bl.
aanufa~tut1n.
produc1v1ty lncroaled 6. 1 pctt.nt,
declines of l . 4 petcent In thl 2 precedl", quo ' UTI .
and bouTl
,,~ . .
up 10.1 porcent over the
pucedl~g
co~paTod
wit h
Outpu t In<uasO>d 11.S percen'
quareeT .
EGudy C",",pe-ns.ot!Qn Increased 1.1 plrcent --c "",parod wit h a D.7 peTtene t1 0e
In ,he fiu: qUOT ter--and un it lobor
1"" 01'"
J~"'P & ~u.o neT
... ~lIe~ .
0<• • '
TOU 1.5 perc.""
".,....nd "Ith. 16. 4-
-0-
1.,
1 . 2 -~ ~ <o ~'"
"Uk a
•
t~ . ""~~u<~bl~ ""b5~<tor. "<,~~c:tultv 1"<:r~~·.~
<lu
l~.l_p~run<
of \Q1S--a n! •
I~
""tput--the
p~cu"t,
de.lin",1 • . 2
1ncuue In hou rly
~h
n~ qu. "~"l y
tlvlty aM cost
of
la<~ut ~uuterty
{no<". .e uflec'ed
doe &Inc . tho
fo,,<t~ qU Ht~<
De'~.nt .
.1&:".Hjc.~ t
"
ch ~
.1""l n- of
.. ot. or the flut ~u.rtU, o" ~ unit lab<>< o~~t ' o.e 2 . 1 "e<o~~'.
oo,.,p~<.• AtlM
A.
s*o~~d qu~ ne ~
jr,creuo I" hnuu .
1.~-~Hccnt
FGurly cor.pen .... ' iGn <ose 4 . 2
.~~,
Th~
rise t he fl .. , p"..nu .
2 . '1 ouo~~, . <_~.<~d
~ootlO,.,lo
<0~"'~ 5 .1tic"
cu.""l oe"iu
.,u o "r ~.
H. !l rst
u~ed
~ ~o ~ .j~<o
"a ...... nec
1n th«
th~
,~~
Jut
t~e
ct , . b
o"" l'l'tat~O"
10 ""sed or. • ~rud outl'l"
1 .... 1.
l' . ! _Doc_
~Ml
~u&r .. r
,he
hnu d u
01 1970 .
c~!.
of .... nufaotu<lno pn<"oP"~"u.~
~y
t'e
r~<p~~
AM lva !. o (t'A) Dt t~. U.$. n~I"<t",e"' af C<>...,..u,e ~~d th~ ,,""'lt~lv ledo.
o[ Iru;I,,,,,lal
~ .. od,,<t!on eo"~tle<!
~y
:Itt!
0'
~ "d
Gove '~ c" ~f
t"~
I"e<!UAI
R~' H V~
'anI<.
This ~"eu reluoe inoorpo u t u bo t h th~ laUst uu! . l"". to the r.f.A onr., .. 1
I* v~ \ .
(fl' o, 19 14 lo,,",uo)
• he
quut~<ly
~nd ~n
""tflU' .e,lu
tor
l ~;>cov.J
lote~ p~18tloo
th~ entlr~ p~<lod
oov~ ud
teo~~l~u'
fo< d ... ~l o~in •
hy ,he ...,. . u<o", •• ootod
oMvo .
~onfln.neia1
!uru~
Tt-..
fo~
C<><rontlono
of L_bo .
t h. nonflnonold
the ""tput . nd
l*"~ls
St . HUI~o
al." "el ... .
coq,,,""" ..aoro
o""p~nOA,j~n
R.floctln ~
........ u . p,.oduced
revise<! 11,",
.... u~<u
tho Introduction of c ha nses In
~y ~I"'" a ~d
The lo<ge upwud uvhlM p<1.ooadly n!leet. a
uu , .~",ioh
0"""00<1. <I .e of 9 •• puent.
t~ ~
"".t r e oe nt 10M" I"",,"
a~d
un!t 10\><>. OOot Inca. . e~
6.~
p«cent.
e1""'n~e
",lth . 5.1
In th. cutout ,.uo Inuuoe
c~.,
lIourly e""pe"ut;on ro se 12.B
~~~ _
eo""",~ed
rut,"" en the 1>... 1.. of prdl.l!lllluy Infor ... tlon .
hevloudy,
tun l"J~lhlle<l . . 11.5 and 8.7 p~r<ent, uo:><>ctlvdy .
~u.. . u<
fr o", to " ~LS . tt-.. <e vised !:lU.ouru 0""" p<"<>ductlvlty lnccu .. d ~ . O ~Hoen.
pe ,o .nt .
c.nt
~
pen~nt
thu ~
""v"",e~U
It.od
Table C .. o .. ~~res p<elh.lna .. y
Su
ta~h
3 and apper.d1x ubi" 1tI.
Tabl. C.
P."ll~1narr
""HeHiy
C~n...,
Su.ooally
and Rev{o"cl
r!~.t Q-~O<te T
" ....,,". of
Co • ."ution.
Pr<lI,.,lna<J
lIouuro
".• v\..,d
Productlvlt)'
,..
Output
S. ;
•••
Uoun
, .0
'-'
II. ~
l~ . ~
'-'
'-'
"-'
•••
..
_~ . l
Unit Profit.
lot.licit Pri t e Dofb t or
,
;>o u ted In productivity and tOS' " . . . ~ru publiohu '<><I.y .
'.0
-H.~
,. ,
The full period aHotted
Th" 1. . ~ut • • vhlo,," occun'ed In the <eonaton YU T 197; ,
'Wlty
.r.d Coo . .
Ad\u . U~
~·onf!r... "ehl
"
?rorl~etlvitl
at M~uol Rat"
d~d!n.
u~u.
the produe -
\>as tevloo><! to 2.7 percent • • • :hn than tho PTOv!ously reported 3 . 4-
no"f . ." tOllnus UCto< .
corpora t ions,
pro~"otiv1ty cl~oHn@(\
c.&ry uti_t . . for
On th~ oth~' "-on<!,
1~1' .
nore
t" .... "ubot~rlns n.d tn ".",fln."cbl
1~ t~e
rn! •• ~ ... leo tho" 1n the p<el1::11 _
,, ".,,,,,, AU. . .' <> "('''''.
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"
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l •••
'.H''',"
'01 ,
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I ... •
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.......
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"'.,.
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121 . ,.
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"'.$0", ""OOO<;'ty,,,,
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COMPfUSRTlOII PEr: HOUR Of f'LL P[RSO'lS:
: ,
...........•. , .............
. .........~.
7.'
:
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••
•
1
"
·•
.
.•
+. ···········f·············;·············+·············
··•
..
,.
•
·
.
.
·•• .-- ...............-,
..
••
•
•
. _-.-._-·••
:
..............
:
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.
,·
·•• ...... .•
. .... -,--.-.-.
,
'." , ..
vr·t··········
U~!T
NGN LilBCR PI';YMENTS
•
...............................
. - -.
II
-
~
............
............. ............ .
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••
•
••
........................... .. -- .. -- -- .. -:-..
,
."
"
",
,
"
""
",
,
.,
••
•
--_._---.
•
•• _- ,. -- ••• _••• -- .> ••••••••••••• ,
"
",
,
.,
,
•
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,
..- .... ........................... -:- ............ .
••
ffUHOti'
••
"
"
"
",
.,"
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,
•
•• ............•
"
•
·
.
.• .........•.............
·········'···r········---·1'······
.. ··/'''-J
; ··········r···
••
••
",
·
.
•
•
"
~
lHPLlCIT PRlcr
••
•
~
·
~
1971
\912
1973
1974
1975
1976
"L
C~U'~~ .. ,. c"_un~ P~":'"CTl , :~L-- -.
.. "'••-,-.-,-.-.~
-.
-...-
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... T loG 00
\977
29, 1971
CHART :5.
P.'i'OlJi'CT 1 '/1 I t .
tiOURl Y
COMFENSIHIUN. UN:; C('S'S R:W PRiCES
NONFINqNCI~L
CORPORRTIONS
[PERCEt."!" CHriNGE r'RGM SPM[
QUR~TER
q([QR
~GO;
OUTPUT PER ~LL-EMrLOYEE ~nUR
,
. .,
,,
,
,:
,
. .,
- ._- -------:-.. _--- _. _. --:- ---- .. _..... -:- ........... ..•............. :............ --:- .. - - - . - - - --_
,
/
i
,,..
,,
,,,
:
I i .
.
,
·,
_
I
CQMrn'SA"IO:i
,
. I"ER RLL - EMPLOYEE
,,
.,
........................................
..... .
II
,
,,
,
~OUR
1
.............. . ..... "1
r
",
1:"
",
~
'
UNIT
,
,,
LRSOR ca
,
......................... ,,............. , ............ .
,
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,
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0
l
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----.
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i
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--. 7·· ........ ·· ..........................
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1
0.'
I MP LIClT PRICE [)
lOR
- _.... --.:, ............. ~,....... -- .... ..!....
-------- ~ --- -- -,
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,
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,
-- ......
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,
,
0
.,
-............. ""
,
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1
4·6
,
0
197 1
1972
1973
1974
1975
1976
1977
JUL 29 . 191')
CHRRT 4.
UNIT COSTS. UNIT PROFITS RNO PRICES
NONFINRNCJRL CORPORRTIONS
(PE RCENT CHANGE FROM SRME
QURRTER R YERR RGO)
-+
........... .
.............!.......... U~lT LFIBOR COST ..............................
,
,,
,,
,
,
............. :,............. ,............ .
:
... .........•...
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:
6·9.
.................................
,
,
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,
,
,
, , '
·····- ·······l··· ··········~·············"'··········· ··.········· · ···l·············~·············
U ~ lT
:
~O~LFl60R
C06T
·············;········· ....1··············. ······
'
f
:
1
·····r·.~········l·············t········~·.·~·
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+
,
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,
, ···· ·· · ·· ·· ··
,
·········· ·!·· · ······-···i····· ·········~·············t·············l·············+······
!
TpTFlL
U~lT
i
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,
,
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,,
·············1·············,·············+·············t·············l·············+····
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,
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.
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U~
I T PROf I TS ···········t ·····- ....... , ......•.• - •.
'
..... ....
.;
,
....... ~.........•............ ... .
,
.......•......
,
......................
,
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:
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;
i
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i
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:
:
-8 · J
............. !............. , ............. ".. .... . .... . ...... ..... . , ........ . - ... '" . .
1971
19,2
1973
19,4
19?5
19?6
'"'
•••, ••,•••,.'.' ,' ••,C,.,•••••, '' .'
- C>!Aft f NO.
M
1971
29 , 1971
.." " ...
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@FedFRASER