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NEWS
lIuhlnlton. D.C.
L . J. hleo (202)
1:.0. Royle (:102)
~""'"
(2 02)
aan-hour<.
Thl.
v
Ii;
U. S. DEPARTMENT OF LABOR
BURElU If lIBDI SflflSflCS
loon
~'SDL
74-'"
961-4S97
!'OK
96 1-29 J)
Friday, Nov*",b.,. 22, 191.
~ASE:
11:00 A.M.
nl-13B4
"u
'he fourth con..
,",! ...
quae,"" of pT<><luotlvlty d~cl!n. In oM.
Frooo tho third quae,", of 1913 to ,h. third quac'.~ of 197:', O"'~ut po ••• ~-hO"f
dtol1n.~ 2 .• puc.nt '0 no"f1n.~d.l COTPOUtion •.
'octor, 2.9 perten. In tbo ncof . . . . .ctor,
.~d .h~d
.~r, of ·~eCQCd ~uu ... d.,. aPp •• <o In '.bl.....
2.) pucen. In tho eotal prJv.,.
no chan,. In
~n"r.c.u.ln8.
A
D<tu!l. are liven In •• bl . . 1- 4 .
,
rabl. A.
Po<o~t
Cllanae in Pro<!uoti.!'y and eooto "'- .4.rtDud
(SuoQnally MJuoud)
led QuartH 197)
Rat~
2nd QuartH 1911.
<>
Jrd Quorte< 1974
Output per ".n-hQUr
,0< ..n-bour
labor
<"",penn, Ion ,0< =on-hQur
Coaoponutlon
~nH
hd
~.,.,.
Output
M",D-bouro
-2 .•
•••
-1.1
10.0
1:/ .0
II. 3
- 2.J
-2.3
- 1.7
0.0
-1.0
o. ,
rood Erlvau ocon""r
(bvlud)
-2. ]
Output pe< ...n-hour
-2.'
•••
10 . 3
12 . •
13. I
- I. 7
-2. }
Output
- 2 .•
- :/.4
~n-hour.
-0 . :/
0.0
Co:o~ensa'lon
~,
Unit hbor eoU.
Real cOClpenoat Ion
So~h,."
Ou'pu'
"c'or
... n-bour
,"'
"on-hour
(R*vloed)
per =an-hQur
Co:openutlon per un-hour
~'nl • lobor cou.
Rul <.,.,penu,lon
...n-hoo<
~,
Output
IIon-boure
..,
- 2.9
12.9
-I. 8
-3.0
-0.1
- 2.2
10.8
ll.3
-2.0
-2.5
-0.3
0. 0
-0. )
10 . I
II. 4
ll. 1
llanufa<'urlns (R*vIUd)
,.,
Output pcc .an-hour
C"",pen. . 'lon
... n-hour
Unit bbQr coot"
Rul <""pe~'H 100'1 PH .... "-hour
o-"'p"t
M.n - hou,"
10.1
-!.'
-0 .8
-0. a
- I .•
-0.3
0.0
;
C=ponsatlon pH
""~ - ho"r
""d unit hbor CO.t In th e nonfinancial
corpor~' ••• ctor
incnand more .lo"ly In tho third quartor thon in tho •• cond.
Compensation pu ... n-hour ("Mcb 1"cIud .. both
rou.t
0 . . . . ona1l1
".S"
a nd ouppl..,..",.]. paymenu)
adj".ud onnual u u of 10.0 puc ent In tho third
fro. on 11.5 percont lncr .... durlnl t ho ncond quarur .
per man-hou r refl.cted 0 10 .2 porcont
In <r~ •• ~
~uutor,
d"""
Tho increne In co.po"ut l on
in eomp*n •• tlon coupled "lth a 0.1
percent increas. in .... "-houu.
Real cOIIponutiM pOT .... o-hour (hourly c"",,ponut1on adjusted for eh oniu In 'bo
Consumer Price Ind"-,,) doauud 1.7 p*rcont ,
d~"!.ng
c~.<>d
"ith a 0.9 percent doclino
the .. cend quartor •••ukini tho .h,h oon" cu,I,,* 1"0,,*"ly doc lin e ,n thlo
••u.u.a .
Ao a TOoult of the . . docllne., rul hourly <""po" . . ,lon uochOO<! the lovut
level o1no. the founo quarter o f 1911.
Corponu uni t labor co.to. " hieh re f lect changes In ?coduc<lvl,y .nd o","penu<lon
pe< .... n-hour. ro .. at an .nnual <ate of 1l.3 perc e no durln& n .• 'hird quarUr.
c""'pared .. Ith an 11.9 pore e nt lncr ea. . during the prevlou. quarte<.
Unit nOn1abQ r ooot. - ....b.1~h inc lud. doprod.tlon, net Inoue. ,. and indiuc'
bu.!n. . . t u u-- t o .. • t on .nnud ute o f 12 .5 pOre_nt I" tho third quntor, c,,",pand
"Ith an 11.4 puc.nt incroa .. in t ho
pro~iou.
quartor.
fotal unit CQ.to (labor aDd
nonl.boer costs c""bin.d) in< .... . d a t an _nnuol u u of 11.6 porcen •• cOIIIpaud .. lth an
n.s percent IDCTU. . during the •• cond quartor.
ProfH. and Prle. .
haUte ood prices In tho ,,<><tHuncl.l OO",Qu, . . . etor al.a Ine r uud 1. . .
third quarta r than In <hO .econd .
I~
,h.
Profita per unit of outp", ineru.. d by 9.1 pere'""t In the third quarter, .ftu
Inenaoing 20 . 2 pe rcent rlurini the .. cond quartO<,
M a reou1t, unit profits
.,ood
2.9 perc,"", a""'a third qu"u of 19B In.b.
Th. u.pl1dt price ddbtor for tho nonfin an cial corpora.. uceor, -mieh nflee,"
ehlll1&e. in unit labor cost. , "nit nonlaoor coo .. , and profit •• incru .. d at an
ann"d uta of 11.3 parent durinll ,h . third qu.tur. e,""pa nd ,,1<h a 12.6 percent
Incna. . durinl 'ho . .cond quartor,
Tho 0.1 percent iOCTUS. in !Un-ho".. rofloctod a O. 2
p e «~'
incr . .. . in
omp10)"lllont end a 0.1 perce nt decline in ave .., . ,,.tHy houn.
Table B.
ind""u of Prio ... Coo .. and Profit> in th o
NonHn.nehl Corpna. . Soctor
(1967 • 100)
,
1973
1969
1970
1971
1972
1973
m
"
lOS,3
110.0
113.9
116.1
120.0
120.5
122,6
co....... ... .. 108,$
116,S
120,1
121. 4
125.2
12S.9
114.9
117.4
119.6
124. 4
1011.8
122.9
128.6
126.9
86.9
71.3
79. 1
86.7
lIoplicit prio e
dofh,or,.""
1974
n
I
!II ·
126.0 129,8
133,
128.S
133,0 136.7
140,
).25 . 1
12S.1
l.n,6 136.4
140.
127.7
128 . 3
129.9
134,2 137.9
H2.
90. e
90,2
89. 7
86,8 ·'lO.9
Toul unit
,
,
Unit labor
oo.t •. ...... 10S.1
IInit non-
l abor con
IIn1 "
~rofi .....
" .•
I.
. C.... OOOy, OutPu t
r'~I'
ror&~ ~k'"''
~UuMl' tOM~f~'&' t O~ . UM"
co~r.
&~ O
PM'Cr~.
p.~ M& ~ _ """""
Sr '~'l l Y &OJU, '
EO
k<Ol
OUI~UI
p ,~
eQ_(~s .·
_..oIJfI.,.
lI ON PEM
~"'- HOIJ~
M . ..
(0""("50_
11000 I'[w
M... ·~ OIJ w
.....
'.OOONL.M'" pu ·
~"0 R
U8
ens IS
'2)
~.N ' S O)J
1"~Ll t lt
P~IU
OVl",O ~"
)
-------------------------------------------------+------------------------------------------------------------------------' H ~ {.( S
,
I 'll)
'"""
'''''U&l
,
117 • 0
I la ."
,,~.~
120 .,
II &. I
12& . I
ll~.
)
Il6 . ~
I I b. ~
Il5 . A
H< • •
IJ •• I
11 3 . ...
12J.~
I ~I'
Il< . ?
In •• ''
"
'"
---------------------
1 .~ . ,
...
'"""
,
~ " .~
l'Ih
'""
..
,.,
,
,.,
'.'
10 . 0
-I • ~
- I •~
- 001
'.'
....
...•••' .,
.....,
-",....
b . i'
-,
_1. I
•••
-2." "
-~
-~.<~
I .~ ••
I ~~. I
I.' •1
I I ~. ~
11 5 . 1
I r..1
,
"
on
"
1 ,.
,
'""
• ..•.... L
,.,
,.,
'"
' .'
'.'
~
,
II 0.5
12 \ • ~
I?' • A
12 ' 01
12~.O
129.8
1 3~.~
121.8
I )2.5
12~
J"~.~
.""..
I~'.o'
I ~1 • J
"' .'
I ~l.~
I 15. J
131 • 8
11J. 5
In . "
I ~~ . "
11.1.0
,. 0 .2
IH.e
"".1"
111. I
1)".7R
IU . J
Ib~.l
I.~.l"
'b~.Jo<
OHIO
..
,,.,
,. ,
,.,. ,
-0 • ,
_2.~
• • OW
" "f¥'OU~
11 . 1
'.-
-.-
~.~
•••
".. .~
1O.1~
IU . S
1 12."
-
OU '"I(" 01 ._uu
'
..
....
,,.,..
,.,
~
-2. 511
..
,,.,
,.,
'. ,
,.,
J.~
..
•••
,' .'
'.'
•••
•••
..
-~.2
,.,
1&.6
I~
PII(YIOU$
>••
>.-
' .'
..
10.0
1( . '1
, . I
,.,
1I.5P
12 . ~ ~
1 J. 6
-.,
,.,
.....,,
,.,
..,
,
' .'
,
'.'
~
1.0.00
II • I
'.-
fl.
Ilb.,
139 ••
..,.,,
..
,.,
•6
------------------
,
,,.,.'
-2.1
-J . 2
-I .)
-,
no."
".n ,.. ,
---------------------------------- ... -------"EOCE~I_C;O~C.[-~ (O~~fSPOHiii .. R OU.W![O
I'll}
12 •• 1
I 3D. S
I J?~
I "".?
Pt"Cl~' CH.~6'
''') ,
l~bl.IO'
------
vo_ ,/0,
....- •..'.'••,.,
,..
.. ..'
•••
,.,
,.,-
M
'
- I •q
10 . 0
I '.'
0 .9
".~
' .'
•• oR
12 •• w
II • 0"
- O.
-I • I"
-" . l "
---------------------------------------------------------------------------------------------------------...
• r
or
'.
22 . 19"
~
" .(\T~OH·'
~.II ,"I ~."
h~ "!' I~'N&N.
-l.~
-~.
I
.~ .' ~
[~O
~~
- 3. 0
~~
"~' , f
~O. ~ ~b': 11
soullcr:
~uw(.u
OF
l' ~ "~
SI 'II~IICS
IaI<Lf
~'~L'
>.
CO~th~
~MI~",r
NoO ..... ~~ ( C _ " OU I PU.
•• , O.. , UN,. cns.,
'~O
"~ICf5.
lOr" " ... -1«1 .....
SE . ~nN'LLY
.nJUS'(D
~flL
CQ·~r"S'-
OU'"UI "ER
• ... -~QU~
1 10" PER
~'''-~OUR''I
(0 0 ,,(,,5._
1 10" "EH
•...
_~Ov~,~,
u" IT
toeo ..
Uf<n NON_
LoaOR .... _
cos .s
"~"I$'ll
I""LICIT
"PIC{
PUL'IO~'.'
---.------------------1i«Ifil;-i~;i:iOO_---~-----------------
,
'"""
II
,
••
II<
.~
l l... ~
126.0
176 ••
Ill. 1
~
ol
"~·1
,,~.
II
\~H
~
II~. I
I
\l'. ,
, I '. ,
I "" ...
"
- - '"
- - - - - - ----
I ~ j. 1
In.,,,,
1I1. ~ "
• '1.'
,
'"""
,
'""
A" "UAL
1913
,
"
'""
"
'"
---
U{
'OO'"O"-~
pakHIS[O
paPllfll"I''''''
..,..
,.,
..
•••
,.,
'M
I~O.O
II O. ,
"O.'~
19 ••
I ~~. 1
I ~~.,
I
no ••
I~".~
II •• I
, \~."H
•••
'.'
..
,.,
-z.·
.. '
----,."'.'.n'"
..' .,, ,,..
•••
,.,
,..
.. , ,..
-~
- 0.'
,. ,
,
M
M
_1 ••
_T.~
-z.~~
,. ,
'.'
'.'
•••
- •• JR
J. ·1
_ 0 ••
-I • ~
-l. o~
. , lHO Of"
10".0
~
I •~
IH.'
I"'.""
II~,~
liS • •
",. I
Ill.'
lIJ.2
UI . ~
IlG .)
Ill . '
lib.'
I
I n ••
IZ~ ••
IZ •• 7
Il~.~
1I9.~
Il",~
11 1.9
I l l ••
Ill. )
Il~.2
Ill.'
I I I •Q
III.JI'
100.2
10 5 .0
100.61'
In ••
'la.J
I ]I. Q
11$.'
In. II'
loJ.O"
)l.'
-----~pc~ ~n;;;;;G;~'f:ii-,.oi{VIoU"'".',".""C,","R .,oo;;jAi:Iiai~~-----·--
,
1910
I"-~
In.''
IA~l[
'.
..•••
,
_0. I II
--
,.,
lI.T
'.'
•••
•••
,
-ld
..
•••
U.I
".~
-2 . J
,..
-O.Q
-Z.7
.
-I • 6
- 1 . 0"
..•,..••,
..•••,
-------
..
,., ,
,
•••
''"
10.0
I~. 3
11 ....
". ,
_G."
,.,
..,..
I'.'
".'
Il.lR
..'.,
,0.2
)).01'
CII.I06£ O_EII(ORR[SPONo'NiOUt:iiiiii CW "RE"oo.oS r(A~-----------
....
,..
'
,..,
'. ,
,.,
•••
Q.IR
...
,,
•••
,.'
-0 . 1
-~.
l
-I .9
-I • 8~
,....
,..
...
,.,
'.'
,
'. ,
,'.'
,
•••
•••
,.,
'.'
•••
•• •
•••
10.J
I ?SP
II . r
I?~
hO.[ ~ 1IE1I
~.'
M
".
10.9
IZ.~II
--~---
1"1.
SOUfiC[' BUAUU M
U~OIt
51011511(5
Year and
~~ne.
,
m"
OII.put
~,
Un-""'"
..
Tabl. l. Kanuflctu.ing Sector; OutPUt per "-n-hour. Hourly
Co-pen.ation. Unit Labor eo_ea. Sfta&onally Adjuated
Output
Man-houu
c...panution
Ileal C..-pP.nut.lon
...,-bollr m
~, ... n-hour
,
m
•
Indue. 1967
1'J71
.
128.)
129. ~
131.1
129.9
129.9
132.3
134.3
101.2
102.2
102. I
103.4
133.9
""
'"
UnIt Labor
~.,
144.7
112 . 5
147 . 4
UO.,
111.1
111.8
112.8
IIl.8
U4.1
153.2
111.4
Ill.9
Annual
129.8
132.6
102.2
148. \I
H1.9
114.8
,
m"
129.7
Ill. 1
Ill. 1
132.l
132.9
1}2,8.
102.0
10l.l
101. ~r
155.8
1I0.2
110.6
120 .1
122.8
lI!1,~(
U6.Z(
1974
,
.
"
,
m"
1914
,
1973
.."
m
...... n .. al
,
m"
1914
•••
..,
..
..,
-3.4
Mnual
,•
1~. 9
'"'
•••
m
~.
,..
•••
footnotu
revlud
,
-g,l(
,
-5.1
-2 .6
lc
rarcent
..,
..,.,,
,..
14. 2
12.2
10.5
,.,
..
,
,....,
•••
foil_In.
•••
-5.8
...
..,
11,0
-0.8<
tabt.
••
Cluarur
o O.
ChaDae
..
,,~
,
,.,
..,
,.,
,.'
•••
-0.8
-O,!.
at !PP"1l
I".
m
•••
,.,
..,
•••
,
...•••
11.0
..
-.
-0.7
..'"',
l§~, ~(
",upe h . . Pnylp'"
Pup""
1913
161.1
,
-1. 7
11.9
1. 1
\.. 4
t
....,,
....,,
.,.. ,
-4.1
14.1
P.. vlo .... Tu.
..
,,. ,
-<>. ,
-<> .•
..
,.
II i[
,..
-1.4
II . 7.
h
m
.....
...
,.
•••
,..
•••
'-'
,
'-'
-1.2
'-'
-O.l
,.,
..,
•••
-2.0
-I. J
-I.h
10.1<
SOUlc:r::
.,
',,'''au
"",,_e.
.
..,
'-
10, \.
uoo, St .. htlc.
n. 1974
••Unit
Tab!.
CorporatloD.: Output por Man-bour, HourlJ eo.pen.atlon
Labor eo.ta, Unit Proflta and Prlca., S...onaIIJ AdJuated
~nflnanc1al
c..penaa-
Yur and
Quu •• r
..,
Output por
aan-hour
Output
Hao-houn
"00
b"
Unit
U"",
Unit
lIool.bor
~"
.... ....
Total
''"Plielt
Price
OefLng .
1911
'""
19H
,
..... nual
123. I
123.3
121.5
122.7
IJ(l.7
132.1
il2.9
123. I
122.~
lU.~
116.1
121.~
lSl.S
15•••
157.2
IlS.~
13l.~
106.2
107.3
107.7
loa.7
114.9
U'.2
123.1
113.1
128.1
12~. 7
127.1
lll.l
129.9
124. I
12S.9
128.5
132.J
107 .~
153.1
U~.O
12'.~
127.7
125. 2
91.9
91.3
". ,
"
..
89.7
"
Ill/
"
""'nuai
..,
.. ,
'"
U73
n
'""
19U
,
..... DUal
..
•••
•••
,
•••
•••
,. ,
,.,
,
•••
-5.5
-0.'
-I. Ie
-8.1
-2.3
1974
n
,.,
,•••
,.,..
,.,
-I. 7
12. 5
..
U
-I.'
-l.Op
P • p... t.l ...... ,
,..
-2.8
-1.0
(). 12
.. , ..••••••,.,,
I().O
U
'-'
'-'
-0.1
U
-1.9
-1.6
-2. 3p
-2"2
See footnote. followlnl t.l>le ~.
'"
120.0
126.0
129.8
n
19l1
1l7.8
119.1
120.5
122.6
•••
LO
•••
().Op
..,
,,.,.,
,
,
Il.4
....
'"'
-2.2
-1.9
-2.2
L'
"' ..
•••
,.,
•••
•••
..,
,.'"',
•••
•••
,.,
,..
•••
9.42
.. ,
-2.6
1l.9
,,.,..
12"2
14.9
11.9
-2.1p
10.Op
11.3p
Percent Chan •• froa Pr.~lou. Yaar
II.S
,..,...,,
- 1.2
..,
U
U
-2.2
..
ll.'
,,., "'.,
.., ,.,
.... ,, .... ,,
-1.2
.., ..,
•••
-1.9
10.'
-2.h
H.Op
10.b
""'"
..
.. ,
,., ,
,.,
..,
U
,. ,
-2 ...
-4 . 5
-2.5
14.6
11.8
1l.6p
-12.3
20 . 2
L'
'-'
U
~.lp
'-'
•••
•••
'-'
,..
11.4
12.6
11. 3p
... ..
,'-'..
,.
•••
,..
•••
•••
•••
L'
,., ..,
,., ,
- I.I>
-5.6
10.2
10. 7p
11.1p
2. 2p
lur.au of Labo. 5tatt.tlca
_ _ ar 22.
197'
"'.,
FOOT):OTES,
TAillES 1 TO 4
Soun~: Output dal~ fro,. th~ Bureau of [cono!!",ic An~l)'sjs, U.S.
Departo:cnt ot Co=.ercc and the Federal It.,,rve Board. Co .. pensation
and Han-hours d~ta from the Bureau of labor Statistics, U.S . ~partc~nt
of Labor and the Burt~u ef E~onomic ~~sly.i ••
•
(I) \,Iales and I.hries of " .. ploy.a. plus elllp!oyers' contributions for
social inSurance and private ben,tit ,lanl. !xcept fot nonfinancial
corporntiens, ""here there uc no ulf - eIllP1oyad, data also include~ an
estimate of ... ages • • alarics and sup!,lelllental pay",encs fer the self-~lIIplo)"cd.
(2) Coc""nsat!on per can-hour adJu.tcd tor chanles in the Censu ... cr
Price Index.
(3) Nenlaber pa)'l!lent~ include protln, depreciation,
Incoce and indirect taxeS.
Intere~t.
·Hnal
(~) Current dollar krOl1 product divtd,d by con.tant dollar &ross
product.
(5) Percent ~h.nIC
than Index numbers.
celll~ounded
at annual rate frolll orilinal data rather
(6) Curr.nt quart,., divided by cOlllparable quarter a year alo.
('1 Quart.rly .... ure5 adjusted co annual eatilllatas of output (,ross
product otilinatinl) trea tha Buraau ot ~eon~ic An,lysis, U.S. Department
of Co.... rc ••
(8) Unit Donlabot coat. include dapreci.tion, interest and indirect
taxes.
(9) Total unit coats 1s the 'ua of labor and non-l.bor costs.
(10) Unit ,rofits include corporate profits and inventory valuation
adjustlllect.
•.
CHRRT 1. PROOUCTIVITY. HOURLY
COMPENSRTION. UN IT COSTS ANO PRICES
TOTAL PRIVRTE fCONOMY
(PERCENT CHANGE FROM PRECEDING
QUARTER RT RNNUAL RATEl
,,
OUT"UT PER
·--.-- .. --._--.------.-----..
.......... -- ..·
....--.--.------...., -----.-- .. -- ....---- ..
M " ~HOUR
·
.
.
. .,,
..
"
....
"
---- ------ .:-, ---- ---- -- . .:-- .--.
,,
.. ........ .:..,, -- .. --.III--.--2 -4
........ -- ...•·.. ------ .. -- ...---- ......... _
........---- ...,----.-- .. -- ......
••
••
••
•
•
COM"(NS"TION "(R MANHOUR
,,
,
,
---:-.
... ,
--. ------
............
............. :, .....
..
-- .... .--.-- ..
,
.. -- -- -- ... --. --.
,,,
~--
•
, ..
------.~--
------
..... --.. --.--...
,
,
o
15
10
",,",'.:.. l ............. .L .............
COSTS
5
-5
,
,,,
U~IT
.••
--.'--'--"~
••
•
i,
~.
:
i\--~-\
......... _...•......... _...•............
,
--.---- ~.--.--------.
,,,
,
,,,
I3. 1
5
o
15
,
~----.--.--.--
..
10
-- --.. --. --+ ------. --.--.
5
o
,,
UN.IT NONLAS~R "RYMENT.S
20
;
:
111
_•• _......................•.•......•..•..•..... _•......• ..••..••... .r•....•.•....•. ~ ............ .
••
•
•
••
.
.•
.
,••
•
• • •
-····-···r·····················l"""'""-,
,
···-···-·····i· ··· ·········~·-· ····-· ····
",
,
,,
,
• --. -- •• ---- . j -- ••. ------ .
I 1 .S
·i----·
10
,
,
,,
..... ,......•..•... ,.....
,,
,,,
,,
,
•• _............
•
•
••
• _.. _...
•
... ..........•••- .. _- ........•....
_.. -•.............
,•...................
__ .. .... .
•
•
•,
•
•,
•,
III
,
,,
'
"
12_S
··
..
·,,
··
..
..
..
:
IM!'LICIT "RIC( O(FLFHOR
i
,
... _..........................................................
_... ...• •.••..•...•...
.•........... •...
,
,
15
5
o
-5
15
10
------. -- ..... -- .. -- .. ----,
,,
5
o
1968
•
19 69
1910
1 97 1
1972
1973
"V
1974
22 . 19 74
CHART 2 . PRODUCTiVITY . HOURLY
COMPENSqTION UNIT COS-S RND PRiCES
PRIVATE NO NFRRM SECTOR
PERCE~T C~A~GF. f~OM PRECEDING
~uqR - ER R- RNNURL RR TE )
~~--i"\-----------~-
,
"
-<
.-. --- -- - ,,
,
,,
,
,
,
.--.--.-.---.-.----------- ~ .----------.--.-.-----
,
.. --..,
-;;::,v -=
-------
' ~/
.. __, .....
--
---,-_ ....
,"
-_ ...•. .........•.. _.. -_ .. _........ "(_._-,•.............. - ........ _.. _, ........... ,
. --'
~.
-vLu;uuu- __ ----"--1><{\mum~ .-,...... -_ .........., -
!
,
,
--+-,
._ .. _.----
--< "
,,
,
-- .... \.._
,
-t----··-- .----oj--.-----.
..........
~-
uu_
I
,-
... -- ..... -: -- -- - - -.- ... - ,--.,,
,,
·---··-···.--·---·------i--··-······
.
,
...
, __ ... _........
, _-
I
,
- -- _.. _;. ... __ ... _..
L .. _
,,
.--_._ .. __._--:--_.
__ . __ .
,
1l1Pl:Cij
...
-- ,,
I
-
,,
PRiCE ()EFUHO'l
-------.;-, ..
,
-..
--.-- - ~ -
i jI
I 3 . '1
t
sse
---;.,
,,
,
: 9 69
19 70
,,
--_ .. ----- .. / --- 1 97 1
..... .;.., .... .......
,,
1972
1973
NOV.
'
··-··--··~--·---·--·--·t··,-~-,
_
,-_._----- --_.'-_.
J
_"u_
., .. ---_ ... _. --,,•.. --_ ...............
,,
,,
..... -_. _. -- .. -_. ..... _
-_. --_. --_
.... -_. --_.
,
,,
,
,, -_ ..
,,
~
--
197 4
22 . 197 4
"
P~OOUCTIVITY. HOURiY
3
COMPENSATION UNIT COETS AND PRICES
NONFINANCIAL CORF~RATIONS
(PERCENT CHANGE F~OM SAME
QUARTER A YEAR AGOl
rHA~T
••
••
••
•
,,•
15
MA~~OUR
OUH'UT
,,
,
,,
,,
,,
-----_._---_ -------------.--_
.............
------------.----------_._,------_._----""-------_.
__ ..
••
••
•••
•
•
,
II I
•
•
•
----,------·-------!-------------i--·--·······--~·
•
•
..
-----
..•
!O
------------
S
0
•
••
•
..
,
-------.--.--.-----.. ----- " --.- .........• .. ----------.-------_
....-•" _. __ . __ ._--- .. -----_._----•
~ -
••
••
•
•
•
•
III
COMPENSATION PER MANHOUR
:
,
,
,
,
:
.
9-4
-----_._---_ , -------------.-, .......... _..•,
.. _-----.-------_
.....•., _-_ .. __
------------,
I,
.
.
.
.
.
.
.
'
;
:-----,
,
,
,
-- •••• --.-- •• j -- -- . ------ -. ~ ...•...•..• --.~-------------~------ .. -----,-.-.. ---.--.-~---------.--""
"
,•
•
••
III
•••
••
12 _0
•:
UNIT LABOII COSTS
..
·
·
,-
.
. ---- .--- -.................
.
-- t-- · ---- -- --- - ,---"'" ..... y.: :
: ; '
••
•
•• -_.. _... _....•....•....
• ......... _.. -_
....
_-_
.......
.
.
__
..
_._---_
... _._-----_ ... --•
•
•
•
-----~.
..•
•
_
•
•
i
II,
UNIT NONLABO"l PAYMENTS
·
e·
....... __ .... ; .. _.. _. .. _.. _.:__ ............ ~ ............. ; ............. ~ ............. 4-........ __ ..1.
-------------!-------------j-------~------------~-----------;------------~--,
.
,
,,
'
"
, .
,,
'
"
'
"
-.. -... -... _.•.....
.•.• -._._
__ .•.............
--._._--------'
"
,"
, ....... ......., -_ ... __ ... _..•...
, _......
,
,
:,
::,
:,
::
!
,
,
,
IMPLlCIT PRICE OEfLATOR
,
1
III
1 0.1
,
·······--·---t-------------:-----------·-!"-------------t------------- j----------··-!"------
·
.
-- .. · .... · .. ·1 .... · .. --·---,-----··..
.',• · .. •.........1·,
.
-------- 1--.. --·--·_-
•
196a
1 ses
1970
1871
1S72
1973
'"
,,
••
!O
S
J
0
15
10
S
0
••
••
,
:
15
._--- ..
-._-_
--"----------1- -------
·s
.. _.... --.---
15
!O
S
0
·s
15
!O
S
0
1914
22. 1914
CHFIRT 4.
UNIT COSTS. UNIT PROFITS. FINO PRICES
NONFINFlNCIFll CORPORATIONS
[PERCEN T CHFINGE FROM SFIME
OUFIRTER FI YEFIR FlGOI
,
.
,,,
,,.
.
.
,,
.
.
• •
.
,•
.:
UHIT LABOR COSTS
IS
12.0
I'
-.-----------;----------- - -1'"-------- ----:--- ----------;-------------1------------~-
_____________ : ___
___ .l• ___ _______ _ :" ____________ :l. _____________ lI ___ _____
·:•
,
:,
UHIT HOHLABOR COSTS
:• •
,
,:
:
• • •
! -----------'1'------------1"'----------+------
----"----'--r---------'~
---------.--- -------i------------T---•
I
•
TOTAL UHIT COST
,
i
0
'"
IS
11 . 7
,
I'
,
:
:l _________ _
_____ .l-____________ '
____________
: _____________
,,
""
..
:
i,,
,
,
,
-------------.-------------------.--------------:
:
:
:
:,
:
:,
,
,
-------------i---------. U~ I T
!,
,
:
:,
0
!,,
20
,
--_.... ------.--_
.... ------+------------1
1
:
,
f"ROF I T~
,,
,
,,
IS
I'
III
,
i
2.9
----+------------,!
0
-,
,
-------------.-----.. _.--....
,
, --.-.-. __ ..
,,
,
,
,,
,
•• -.--"-,, --to·
,, -----,,
,,
,,
,
r
.i
1,,
:
:
I
:
:
:
:
:
:
:
1970
:
I
:
:
:
:
1911
1912
-IS
III
10.7
i
:
-------. --.. t· ----...----'"1""------,
11If"L1CIT f"RICE OEFLATOR
1969
-I'
..
---t-------------t------------1-------------+------------,
..
.,
,,
--------..... ,, .. _--------- • .j.------
1968
I'
:
-------------1'----------1'"------------:-------------;-------------1-------------:--:
_____________ :___
'"
1 0.1
•
:
,,
,,
•
0
IS
------~-------------1-------------
•
:
,
".l-• ______ -- -- --,
1973
1974
HOV. 22. 1974
-20
j
I'
,
0
@FedFRASER