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U. S. DEPARTMENT OF LABOR
NEWS
00 BURUU OF LAm SUTISTICS
~aoH niton.
L. J. Fulco
K. D. HQYlo
"_.
D. C.
(202)
(202)
(202)
20212
961-4597
9bl-29D
Hl-1381o
USDL 75--112
fOR R~L£ASE' 11, 00 A.H. (Fnn
Thursday , F.bruary n. 1975
PRODUCTIVITY ANrl COSTS FOR
NO~F1t1A.~CIAL
CORPORATIONS,
A~~1JAt
DATA FOR 1974
Productivity (output por ,...,,- hour) in n<>n!1na ndol corpornlon. decce ... d 2.2
p"ro.~t
in H74, aceotding
Labor S,uhtlcs
pero . nt
!n~.e . . e
Q'
tQ
pnlllllinary f1iur .. onnounoed today by the !uroau of
the U.S. Dopa"".", of Labor.
Tho deol1n. ~""p*ru wi th. ).2
in 1913 and. upro .. nu th. fiut yeor-to-yu< dedir. • • inc. 1938
when th~ SHI . . hg1n..
Output In this "~'or ("hie" includes all oorpornio".
bro. . ro. and in£u<~nc. ~nd credit .g~nd . . ) decl!ned 2 .• percent in 1974. ~hil.
<un-hou<o d.cllned 0.3 percent.
A ......."1 of tho 1974
~u. ur~ .
h
~Iv~n
In ubi. A;
Jetall. oro givon in table 4 .
Tabl* A.
Per~ont Chonge trOlll. Proviou. Yur in Productivi,y
ad Coon In fonfina""hl Corporation.
1113
Output
,0<
Co",pon.. tio~
Uott
~ abor
eo'
Man-hour
~st.
Rut CooI.on. . 'ion per
Outp ut
Man-hour<
~evi.od
,. ,
Man-hour
Xan-"o~r
; .4
,.,
,.'"
4.•
11)" •
-1.,
...
II . 2
-1.9
- 2. _
-0.3
.. u.ur~. of NoductivHy in ,11. toul pdvote econo",y. the no" - f . ....
today.
(S. . tabl.
T.bl. B.
~
b.lo,", and tobl •• 1-3 for detail • . )
Percent Cheng • • t Annual Rato in Procluc,iv!ty ond COH.
(S '''Qndly Mju.tocl)
lrd Quartor 1974
4th Quarter H73
"
4th Quarter J9H
4,h Quart.r 1974
o-",?ct pH
!!.~-ho..,"
C~",pcr.ution r~r tI~n-ho"r
Coot,
Real Co;pon. . ,io" po< )!an-hoo'
~nlt
\..ab~r
?uq'-ut
Ma,.-'too""
.. ,
,.
-5 . 0
- 3. b
H. S
-2.6
-cO.l
1•. 0
-2 . 0
-~ . 4
- Z.O
-3.5
- 3. e
13 . 4
- 1.3
13.9
-2 ,0
-5. ,
-1.9
•••
- 5.6
:;0".10"" SO,to,"(a ...-, . . 6)
Outpot
,0<
)!""-hQ~r
~~H
p••
:.obor Coot.
~u~
co"p.".~ti.on ~or :1.,,-~,o"r
C""p.nu'io~
~." - hou,
•••
v~ti'~t
-a.~
>In-hours
-S.~
Output per ~.n-hour
Co=pcnsotion pet Ma~-hoo"
- 0.1
1l.6
lJ. )
Unit Lobo" C~S . .
Rul Co"peno .. iQn pet
Ou'put
'!o n - hc~n
Mar.-hou~
,..
-U.4
- 13.3
•••
O••
11.3
10.6
-0.7
- 4.6
-~ . 2
Ho~rly eo~p'nsat1o~
;o<~
(,..hieh includu
".8" _od npplo"onu) Ir.
oo<poution. lnoro ... d a.a percent in 1914. oompand
.h. ,ucuHng yen.
OOg!~5 .
'he so<i ••
,,. ~
!'hI.
..,all"-~
~ - y,u ..iecl'~~
•
[n~u)
"C~'J00r C~.tB
lnc~ ... e
;~
~n
r~~ord
pu~er.t.
th~
(Pi.
~ompe~ut1o" ~"~ ",~r. - hour
' n .lnoe .ne aui ... hiins
,t
in 1974; also a
d*cl-ined 1 .9 pdcent in 1974 sineo
thot th.
in <ul
pcr~ent
c~ .. ~en .. t1on £ dJ~<t.d
Rul "","penUtlon per ",n-hour (hourly
OOM ,U.Cl ., . .
in
Ao a r*su1t of th~ r.tge increa.e in c~pen • • tlon a nd the de-
in 1973, '.c. u • coHo incru.ed 4 . 1
to. Ccn"J<'u Prico
a 7 .• p.. ~ent i<lcruu
th e h <gest inuuu in this """uu &ina 1958 •.. h.c:
in productivity, unit labo< co.ts mu 11.2
d!~Q
~·lth
no~fh.ndal
~1s
th~
for ,,"h.ngu
j"
inca ... o in cOIl-
abo :. th. fi,", year-
in tne nonfinancial
1950. and the incin 1Qv.: '" 19 ; 4
(includ.ng o~oi<al <c~"",,?tion .110"' •.,
0<"
eo<~onto
~~~
1C~Qr
,h.n
ut inareot .
• ,..~ i· 'i'e~t ou.!"_ ~n taxe.) tnLroaud 10.1 puc~~t !~ 1974. ".,~ 1 ~"1I.3' ~ .or -to
'e'f -
;~ge
'i. nee 1970.
Tou1 "nit. coo .. (boor and non-boo"
i"cceued l".J p.reent. J.n 1974,
;.colt
~,~I1ts
@u1hr .
r.cni.bo<
t~c'UU ""~ r
10<11."
d*oHr.• d 1 .2 percent, aftu havbj;
lnO<h.~d
<ocon!ed fOT thi> .erie.,
4.7 pncent • you
n,. d.cline in ?,ofits per u"H of eutpu, rdleeted • 3.6 percent
in poohto
Th~
th~
<o"~ o=oin~d)
~nd
a 2.4 ;>u,*nt drop hi
~ecHne
Qu:p~t.
!.mpl1dt prlco d.flator ("'hieh rothe,' ch. ng . . In unit hbo< co.to,
co"~'
~n;t
and profits) Incruucl 9.6 ?«cont in 1974 (a reoord incroau) .
ll'.e d=and for labo" s : aohncd in 1971> in tho nonfiotaneJo, corpQ,au ue.or .
~. "~~ - houro d~cHned
0 . 3 ruoont fr"'" 1973 level..
This
~utbaok
\lU
h'o~ght
abou'
b,· ~ .~"rtening of <h lenSth of the "'orx ~eok (to 37.9 hcurs pu ''''eek--d""" 1.2
I'<'rce'.t f ro," 1973) oine* .."p 10Y"'0n<
""'nt ,;pereased ' . 6 pUO*nt .
lab~r <e4~;«:llents
~ dged
higher (op 0.9 pucent).
In 1973, ..,ploy-
11""'" deuiled vi.., of <OCO" develop"",nto in t he
of nonrir.and.l corporations i£ ?,".eotod In table C.
,
AMual Indu.o of l1.n-houu and 4hud
Tab l e C .
He.sure. in Nonfinancial co<por.tion.
(Inde xeo , 1961 - 100)
AVOT.ge
~.or
Mon-hoUT'
1966
1967
1968
99 . 6
100,0
196 9
104.9
1970
1911
1972
19)3
1914*
lOt . ~
101 . 0
105.0
109 .7
109 . 4
E:plor- nt
. "u kiy Hours
1 ~2 . 0
98,2
101. 5
100 . 0
1O~ . 3
105 . 6
104 . 6
103 . t.
100 .0
106.9
98.3
111.8
H2 . 8
98.1
99 . 7
99 . 1
98 . 0
91 . 7
H.O
'Pu 11011",,"y .
Revhed Founh 9u!rtH M... ua. 'or the Priute EconOlOv
tivity ond ulated o«i •• for the founh
on 'he :IIoot
Tec~nt
~"n'e<
of 1974 .
These
ce~1oion.
",... "ros of output and .,an-houc£ In th ,o,.1 privau
the nonfarm u«o"
ond in "",nuboturing .
are bued
Q~ono!ll)' ,
(See tobl. B on page 2 for detail> ; 'P?en-
dix ,.bio. A and B oontoio Inforuatlon frOto 1968 to 1;7:/ foe <he toUI priva te
eoon01OY a nd the nonh<" sec'or hued on th e I.nuuy
~v.use
~ea.uu ,
",. . ~ly
hour~.)
re<lec~l
decline pceviously cepone.;!.
,hi,
In~u"nlal
R.. orvo Boacd's index of
sho",ed a lou"h - quart.,. dodlne of 13 . 4 po c cont ,
j n't~a~
revhlons 1n employ"","' a nd
Th. "'0", olgn Hi".", c ovhion in the fomth qu.rte c mea,urn
"hloh I. baad on tho
0 .1 perc~nt ,
197~
ol>~nil.
" ••
cat~u
c~n.cad
,h.n
In
th ~
,h~
pnxluctlon,
12.9 porceM
cevlo lon '0 tho
0'- tho incr~,". of 0. 6 pO,<ent ,;hieh " •• b . . . d on prel i ",in",y
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TABLES 1 TO 4
SOURCE: Ou~put data from the Bur~au of Economic Analy,11. U.S .
Dcpart"'ent of Commerce And the Fedenl Re~erv(! Bond. Compensation
and Man-hours data from the Bureau of Labor S~ a ti~tiCI. U. S . Department of Labor and the Burea" of Economic Analysis.
(1) Wages and lalariea of e"ployees plus employers' contributions
for aoctal insurance and private benefit plans. Except for nonfinancial
cor porations. "h"re there are nO .elf-employed. data aho includes an
eatimate of "ages , a.lar1e. and 8uppl~ntal payments for tha a91f-empIJypd.
(2) em.p"nsatlon
Price lr.dex.
~ar
r lLl-houl: adju"t"d for chans"s in th"
Cun~u",c,
(3) Nonlabot p.y~entt include profits, depreciation, interest. rental
income and indirect taae ••
(4)
Current dollar gron product divided bv consunt dollar gross.
proc!.uct.
(5) Percent change compounded at annual rate frOG original data rather
than index numbers.
(6)
Current quarter divided by
co~parable
quarter a year ago.
(7) Quar terly a"alura. adjusted to annual estimates of output (gros.
product ot1ginating) frOlll tha !ureau of Econo:rlc Analy.h, U. S. Depart::ent
of Co=erce .
(8)
ta:<es.
(9)
Unit nonlabor coats include depreciation. intarest and indirect
Total unit coatt is the sum of labor and non labor COlt.
(10) Unit profit9 includa corporate profits and inventory VAluation
adjuatment.
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CHART 1 . PRODUCTIVITY . HOURLY
COMPENSRT I ON UNIT COS TS RND PRICES
TOTAL PR I VRTE ECONOMY
[ PERCENT CHANGE FROM PRECEDING
QU ARTER AT RNNUAl RA TE)
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o
191~
FE B. 21, 1975
CHART 2 . PRODUCTiVITY . HOURLY
COMPENSATiON UNIT COSTS AND PRICES
PRIVATE NONfARM SECT OR
( PERCENT CHANGE FROM PRECEOING
QURRTE R RT ANNUAL RATE)
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1972
1973
5
\974
fEB. 27. 1975
CHART 3.
PRODUCTIVITY . HOURLY
CDH PE NSATJON , UNIT COSTS RND PRICES
NONFIN RNCI AL CORPORRT I ONS
(PERCENT CHANGE FROM SRME
QUARTER A YERR RGO)
OUtPUT PER
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5
1966
19 69
1910
19?1
19?2
19? ~
19 14
FEB. 21 . 1975
,
CHA RT 4.
UNIT COSTS. UNIT PRO f ITS AND PRICES
NONfiNANCIRl CORPORATIONS
(PERC ENT CHANGE fROM SAME
QUARTER A YEAR AGO)
-----,------,-----,------,-----,------,---~c
r
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:
UNIT LRBOR COSTS
:
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1912
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1973
10 _7
j
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197~
FE B _ 21. 1975
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