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NEWS
¥;
U. S. DEPARTMENT OF LABOR
~
BUREAU OF LIlli STIT1ST1CS
USDL- 74 - 19 6
L. J. Fulco
961- 4597
K.D . Hoyh
961-29n
H"",, : (202) 333- 138 4
fO R RELF.ASE: )1 : 1)0 A .M .
Thu rodar , April H , 19 14
h oduc <ivity (ou tput po , can-hou r ) I n t he privo<e OCOMm;y d.dln~d ., an a nnud
Ta< ~ of 5 . 5 pUO.nt du r l~ i th fin ' qwo r tor o f 1974, the Bu r uu of Labor S,atl .. I ••
o f <he U.S . Doput_n t o f Lobo r onnoun<~d t cd.y .
The Joc''''e r uulud fr os a
~ . 5 P"<~"t decllM In output and. 1.1 p . . <~~t docllne in .... " - hou .. .
oeoond 'ucc~ . . iv* quo rt er in which productll'l,y decline d .
This " . . the
In the fourth qu.rter
I n 'he nonb". .oc t o • • output per .... n-h"ur d. c!lned ot _ J . 5 p",e~nt .nnud rat;:
In "",nufaetutio& . o ut-pu' per ""n-hour decllned Or • 2.3 peroen ' ~nnual <oU
i n 'he P"~v!ou, ~u.Ttu _
fel)
I.S percen' in the to,al prI va t e ~cono .." . 1. 1 p~ ro*n< In ' h~ non' a ..> "O<'Ot .
a~d rcae 0.7 p. . t~n' In .. ,nu!actudnll .
In table A.
Do,on . are
&Iv~n
A oUOIUry o f ' h flu, quane, data oppu,"
In tablu 1-) .
-1 -
i~b1 ...
A.
hH4n, "'an. . . at
"Mu~1
b , n In Productivity
~~d
eo...
(Pull.lnary Dota . SeaooRally A<lJuo .. d)
."
'"
toul Private
o.,~u'
'" ,.,
L"'lt lalH>.
am-hou ,
~O.'"
k . . ,_en... lon
S""h.1O
Ou'pu'
,.,
~-hour
,., ..,,_10,,",
",
.n
."
~"It
~.,
,. ,
",
Quane r
'"
Q"O<t"T
)\>0" r.O! ",I ns
....,.·ho u ,
I""
labor ,~.'"
,n IU"-""'"
..,
- ~. ~
- 1 .8
11. 1
-S.6
-1.8
- l.~
..,
-1. 1
1. 2
J1. 1
-J.8
6. "
-1 . "
..
o. ;
.;c~r·n.at {"" reT
,,",n - "~UT
,..,
-2. }
-S .J
1~J)
<0
8. 7
S~C<OT
".,,-hour
C<>mjl""U, Ion
L·n I, l«bN '0010
R•• l <c"f'e". . ,lon
,,~n-hou'
o.,~u'
Ccr.p~n . . '
<0
Quo«or 191~
Eco"o,"v
. . . ~-hOUT
~cn . .'ion
QuUt4T 191]
.,
•••
- 2.
~
1~14
-,the ,ubountld pr<)duotivity doolln. In 'he prlv" . . . etor , .. "It.d ho • •
,hup foil-of! In ou'put ... oeluod with
In output
"&0
~
..odeo. decline in .... " - hour< .
the lu,u, quortecly docr .... since 19S8 .
Tho dedlne
Th. . ."-hOUT d.dlne
, nulted en tirely r«,. uduced .v.rage weekly hoyn - - dovn \ . 4 peroent ,0 )1.5 hours
pu ,",uk -- .Ince .""lor-nt
"&0
nurly unehonged (up 0 . ) percent) .
In the p,hat. """fana Uetor. a Oh,Un pottern
prn~il.d
Ir. the fl<O'
qu~".r;
the decline \n productivity 0 · 5 porco<.• ) . u _ d fro. 0 luse, dedln. In output
EmpJO)"DOnt .tayed nud" uudy
(6 . 2 pucent) th.an In ... n- houTO (l .S percent) .
(d""" 0 . 8 poceent) "hi I. 'he ... jOT
.dju.t~n<
In ... n-hours "'U >cc<>=pll.hed throu&h
a reduction In overo,. "ukly hour.. d""", 1.0 pe«on< . '031.2 hours per vul< .
Mdln. In oonrono productivity "'. s the lars.. ,
~nd
.l~<o
Til.
.he fir", quaner of 19S6.
the drop In output wao tho lor,. . , o1oeo 'ho fi,st QuartO< "f 19$8 .
Monufo<turin, ou'put po<
""~-~OUT
leJ!
~. S
pereent (u
",lth • 3.3 pereen, dodlno one qu.rtor urller .
MdJ.,od .ubot,nddly (1.9
~er«nt
~n .nnu~!
T" O) , co .... ad
Hoce, bo,h outp'" .nd IUn -hou<t
and S.6 poreent re.peetlvel,,).
AloO ,!n
eon«~"
to tho othor .ee,,,,", ,h . doel1c.e in ... n-hou<t reflected a ,Tuter r'duo,lo n In
e=ploy",.nt (d""" 3.4 poreent) than In .. ~tole "o.kiy houra (dovn
declines io .... o-hou,. and in out.u, "oro tho lu,o.,
C""-p.." .. ,ion peT ... n- hour (",hid. . . no., ••
contrlburions . and oth.. IT
in,.
nctor In tho firo, QUortoT of
the
pr~vj"u'
qua« . ..
QuaneT 01 1972,
q~aTteT
~t<on') .
"rho
1970 in .hlo s.ctor .
~.g. COO", ...plnv*"
Suet.! Soeuri'y
bonof i U) ro'. S.l porc,-," !n .ho total pTiv. . .
191~ .
s","""h.t Ius than
Tho Hrs. Quut . . !"cruse
~ao
'h~
~ .l
poroent riOO In
tho ..... Ilut .!no. th. third
Deopito 'ho d.o.!.r.,lon !n houTlV ,,"mpon •• ,ien
coots Ino ....od I l.l poreen' In 'ho fir ..
'he flUt
slnc~
~.O
~uart.r
(th~ lor~u'
g.i~ •.
!ne<us~
unit lab",
since
of 1936) . rdloetint tho decl!no In cu'pu, por ",",n-houT.
_4_
In the nooh,... oeotor . co:pooutlon ver man-hour Increased 1 . 2 perc"n t , d"""
qU$ T t~r
from the 8 . 4 perce nt Increa.e one
puc~nt
•• rller .
Unit loboT cost. TO •• 11 . 2
-- the larlnt .Ince 1951 .
In .. anuf_ctudng,
th~
Inc<eau In co"",enuthn pu ...n-houT "U 5 . 6 pucent
In the flut quarter of 19H . about
Couplod "lth tho
d~cl1ne
t ~.
sa .. as In tho
fourt~
qu ...... of J9JJ .
In output pOT =n-hOuT (2 . 3 percnt) . this produ«d
an lncr ... e In unit l a boT co... of 8.1
perc~nt.
which "U .... llor than the fou rt h
qu.nu In«uoe In 'he . . co. . . (9 . 0 po<cent) .
Real C""'l'on . . tlon po< . . n- hour (,,,,,,,onutlon per mon- hou < adjusted by the
Prlc~
Couu_r
~u.nH
bd~x)
d.clln.d 5.6 percent ht on >nnu_1 rote) In the firu
In the prlvaco ooon¢ ..y.
decllne. «01
level in
cOlllp~n .. tlon
" ' 0 y~OT'.
A• •
rnul< of four eonuoutiv"
~uano<s
of
pu . . "-hOUT In tho ftnt quarter .,<><>d at It. lo"ut
The declln. In Tul cotopu •• tlon pu .. o" - hour at " tI_
vhon lOoney cO"l'en . . tion I. Incruslng
refle~ts
th , Tu t u ute of Increase
In tho CPl.
In tho n""r .... uctor . ,ul compenu,lon per ",an-hour JeeHoeJ 3 . 8 puoent In
the firs<
~u~ner,
ah~T
deere . . !n; 1.3 percent In tho fou rt h quarter or 1973 .
The flUt qu.rter ".,"ked the {o"rob conucutlve quarterly deer •••• In thi •
...a"uTe . and 'ho
la,se"
olnee 1951 .
In ... nuhotuTing . rul eO"l'enoation
p~'
.... n - bour deuuoed 5.3 percent . after
docllnlnl 4.1 pere.n, In the prao.dln, quutu.
doauu In
ro~l
PO"''''3T podod.
Thl. " •• the oecond conucut1""
<,,",pen .. tlon per ... n-hou r In tblo sector, ."d ,he larges' In ,he
•
In •• ruc , Indirect bus!n ... tax .. , and
the 1.... 1101< price ddhtOf (which
10 . 6
pe<~.nt
In 'he n<><lto"", ne'"r.
~rofl'.)
rcfl~c"
in<.used 10 . 1
?nee~t
in ,he
oa"iu In unit labor co. . . and
Thu. ,'or. 'he largo .. Incru . . . . lnc. 1951.
<oq''''''!on> for tho f",,,tk Guuter of 191] "on also HI ••• ed .od.v.
Pucu t ","h.ng_ In PreJu"lvitv .,"d CnOt'
M Anou.l R~t~.
(Pnll=in~p'
So • • ,,,,.]l,- AdJ","d)
Table B.
1><>,.,
'" '::".Jner
••
,to
~onf!n.'ncI31
Co'poratl on ,
Output POT =n-hour
C.". •• ~ .. t iQn
... n-hour
~n1t lab",
~
cOIIIp.-on'lon
lOan-hour
.
,«
c"'"
,.,
~u.n
or
...,,
-).1
_).4
1 q;)
1~1J
"t h
't n
!uart~r
,.
1971
"uaClH 197)
...,..
".J
'.'
TAaLE I.
TO TA L PRI~AT( ECONOMY' OU TPUT HA MAN-MOUA
COMPENSATION, UNIT COST . ANO PAICH . SHSDNALL' ADJUSTED
~OU~LY
OU TPUT PER
MAN_H OUR
OU TPUT
CO MPENSA TION PER
MAN_HOUR III
REAL
CO MPEN SA_
TION PER
HAN_HOURI21
UNIT
LABOR
COSTS
UNIT NON_
L ABOR puHENT Sl l l
I MPL ICIT
PIIICE
OHL ATO R I"
---------------~---_WOE X ES19-".-IOO----- --------·
19 73
,
'""
"
1 18.9
12 1 ,J
128.5
1J 0.9
116 . 2
126 . 1
106 .7
101.7
106.6
1l~.9
126.6
109. 2
I 49 • I>
I 51 . 9
154 • I>
I 51 • 7
125.5
108 . 0
153.5
I 15 •• ~
132 . 2
108.9P
159 . 1P
112.91'
))9 . 7P
120.2
125 .0
116 ••
I 16. I
ANNUAL
I 16.2
11 5 . 6
115. I
I 14.6
1l6.0
12$.9
124 . 6
121,J
129 . 3
Il2. 0
129 . 11'
135.61'
I n .·
IlJ. I
19H
II ' • 31>
1913
,
'""
"
ANNUAL
..
.....
---PERCENT CHANGE OYER PR{VIOUS QUA RTER
..
,, ,
,.,
,
,. ,
,,.,
,.,
-5 . 51>
-6. 51'
-1 .1 1'
,.,
,.,
,
'"
..,..'.,..,,
,
•••
-I . 2
..
-0 . 8
3.0 l
,.,
AT" ANMU"","",'T£ l SI
.
•••
..•••,
,,
•••
1).3P
10.7P
,
",
..
,.,
,
....
•••
' .'
,.,
,.,
,.,
•••
..
,
19H
1973
,
'"""
ANNUAL
..
3. 0
....
,..
..
----,"'"'CENT CHANGE OYER PRE-"-'-USYEARI61
..,
~
,. ,
,.,
,.,
3 . 2~
3.2
,,.,
•••,
,.,
,,.,
7. 2
-0.2
1•5
..,,...,,
..,
~
-----------
..,....
,,
~
II .II'
7 . SK
•••
..,,.,•••..,
, ..
1970
---------SE E fOOTNOTES H END
" _ REYI SEO
P_PRELIMINARY
Of HBLE
4.
--------------
8.71'
-------------
APR IL 25. 1970
SOURCE' aUREAU 01' LABOR STATISTICS
hBlE 2. P~iUT t MON~~R M ECONOMY' OUTPU T PER MAN~HOUA
HOURL Y CONPEN SATICN. UNIT COS T. ANO PRICES. SEASONAllY ADJUSTED
YEAR ANO
QUAR TER
OUTPUI PER
HAN-H OUR
M'N~HOURl
1973
,
'"""
ANNUAL
1 9H
197J
,
,
'"""
ANNUAL
1 9H
IlS.~
12S. I
IUd
127 .~
121.6
115.3
1l5.9
IlS.J
li5.~
108.2
IG9 . 5
Il 0.2
II O. 1
K
114.3P
REAL
COMP (NSlI ION PER
COMPENSATiON PER
OUTPUI
141.9
IH.8
IS2.7
ISS.8
I)
HAH_" OU II1~)
UNIT
LABOR
COSTS
113.9
12l • 9
129.8
UNIT 1'101'1_
lABOR PlY"['lIS III
------
113.~
131 • 8
116 ••
116.0
118.6
113.2
US. I
I 19.6
112.IP
IJ6.7P
114.9
12S.6P
..,
..
'-'
,
-0.6
,. ,
123.6
125.4
126.8
129.2
151 .6
109. 91'
IS6.5P
132.5P
·---·-PEiiF~""itTTH'iiiGEO;-E R PREVIOUS QUARTER AT ANNUAL RATEI5)
-1.9
IMPLICIT
PRiCE
OEFlATORI.'
M
•••
•••
_0·1
,
•••
•••
2. 6
1• 9 K
3 .4 R
..•••,,
..•••,
•••
,..
10 • 7
10.51.
M
•••
-2.8P
..,,..,
,..
,. ,
'.'
•••
,.,
II • 2P
..
9.7P
..•••,
,'...,
..,
[O.6P
- - - - - - - - - - - - - - - - - - - - , " " ' C E N I CHANGE OVER PR[VIOU;'.-.",'.-.',••' , - - - - - - - - - - - - - - - - - · - - - - - - -
1973
,
'"""
ANNUAL
,•••.,
•••.,
.
,
•••
..
.•••
,.,
,
- 0 .3
,
..
'-'
,•••
'.'
,.'-',
'.',
,
....
1914
I .6P
- 1 • [P
SE E rOO T'IOTES AT ENO
"_ REVISEO
P. PR El IHINARY
O~
HBlE 4.
-------------------------APRil 25 . 19H
SOURCE) BUREAU OF LABOR STATIS TI CS
T.Jh l " J .
"
,. " ,,'
1'''''
n,"pul
,I" ., r t ,
-_ __
."".",. -1
. •. ..,,,,
_.
Out pu t
' r'
~ t. ", ,,f Mlllr ill l:
~O,",lC" ". " tl" n.
Unl , L
')II ' Pllt
C,,~t> .
r ~r
H.,,, -hour . 1I" " r ly
Sc, .•so".oIlY
Adju~lcJ
- -'"(:(;-.;1",;,-,-.-,,-I 'In ·,''''''~~~·H'''. I C""rc" ,;;-7, T,;;;-- - ii,,-{il.ab-,;r
.",'!d..",~r_JJ )
J~:!....!"o'.'.'..:i~" ., _.JlL .. _. __ C".!i!...
(7)
I 'J! j
"
"
" " ",., I
,'.
,
I IJ. I
II!
II ) .0
I
I ',~ . '>
151 . 8
j 27 . ~r
10 1. I
101.0
10; . 0
J01 . !
1~3 . 11
I I 1•~
120 . 4r
127 . :;
I JO . l
10:/ . I
1~9 . 9
1 l2 . I
111 . 6
I.! 7. Op
!l~ . ll'
101 . 11'
1~0 . ~1'
I IO . JI'
In . 8p
I l~.9r
: I I
I n . :;
1!9.9
I H . 5r
])1.9r
I ~6 . I
I" ) . J
\ , ', . 1)
4
I).
I I". I>
I I 7 • 8r
I " I.
.. --~-------~
l'e!, ... ~n.t_.';,I1, •.',1i"
,,
;
.
,
,"
' . Or
- ;. lr
'"
I ':
,
.1,,,,,,., .
,
,
I 'Ji ..
_. 01'
10. J
o.,
10 . b
'"
B . .!
:; . 0 ,
-0 . 0
I. l r
I. . I
",
_7 . ~1'
,, ,
;,
,.
'"
-5 . 0 1)
-~~-~~
) . 61'
,
"",
,
"
,
I
,Ill"". , I ,,,',
I~I ~
"
I' •
I'rd ' ";'''''
" •
r ev L', ,, ,1
.~
~
.f,..
1 . !,
Jr
6.U,
,
u . ; i'
"c('
I.'
1 '.'
" .I
'"
.. ~~~.
,
,,
"
"
" • ti'
Rolle
i\'_
,
0 0
O. J.
"
"
-. ,
-I~ .
I
'0
_ '> • 1"
,,,
9 . 0r
"
8 . ) 1'
-~--~-.---
' ~c_·_.-!.!!..l__C.!.':!.'.'.ll.~_ ..!l\!:r_ F-':~' i .".".".
I"l!
-------
o~ l'r"'C!!~~'~~~~l.'.:c ,~H",.' ,1
)·."E.J).l
o. ,
,,
.
,,
R . ~
). ~
I . 11'
! ."
,
,
~.O
-U . 0
.,
0,'
\ .0r
6,Or
,.,
6 .1,1'
Table ,.
N"nfln.n~I .. 1 (;orl'ocall",,~:
Unit Labor
_._Oull,ut
I'" ,
Y,·.or .. ".1
'! ,rt~c
I~I
t'nit
null''''
l;"" !",C
... n-ho".
_l'.l._.
~nd
pcr ""n-hour. ilourh C""I'~n~;.tl""
PrIC"5. S~.l.O)(Ipl l y AdJ"otcd
!kal
U" It
C(l"l""'~"-
t
I""
I.,h",
1""
""'-·"",r (11_
."" ,
j
.
"
'"
I~I--.
1~·I.O
III • 1
1)0. I>
I!). I
J 12.
111.11'
IJl.lp
10t0.!
101. 1
107 . 7
108.71'
I~LO .
HI-l.
W7.S.
.. ,
,
'""
"
I 'I. I
, .0
".
"I. II'
!.
~
.. ,
1). (>
1.0
O.
~p
'J['
1s).8
liS . I
I I ~. S
114. ~
Ill.O
12].1
12~. 9
156.11'
11].~p
l~l.I'
II~.
1~8.1
ao. S
'.0
,,'
.. ,
L>
j . ~ ,'
,
'""
j
ij.~
'.0
8. 1
"
',. IJ
,,'
_,',' 1".. "~·"
J
c
h'
_
;'
p'"
.'''_,r
'-'
'•. 0
" ,0
). JI'
• 0
2
12 • 1
',. '1
•••
'.0
-2. J
-0 . ::
6.01'
-J .
---.-.-.~----
I'Hn""
, 'I .i
Oul!,'"
hofit~
eu_nsa-
... "-h",,,
,
eu.t~.
P';"'pe
.. ---.
91.4
127.81'
115.4
118.21'
92.1
94.8
90.91'
I 18. 2
Ll'l.6
120.7
122 .61'
IH.b
In.!.
115.~r
92.S,
120. ]
,,'
,.,
-1.0
2.8
11.6
0.'
'•• 6
J.l
H, '1'
'J."p
5.5
9.4
-15.&,
O .• r
)./)r
9.0.
.. ,
..,
'0.01'
."
..
,
'"
I, . 0
6.11'
J.7
.
O~~.!_I'''·vj""_,, _y'!:',~r__ (J~
!.6
"",fils
.< 10)
124.,\
~. ,""
-.-
Co~l
J..9l.
Implicit
price
de{ lato.
121.0
•••
-
CO~,~
.l!L _
Un It
125.9
126.5
126. 7
11'1.11'
1.1
4,.
Un 1 t---~T"t .• ,
N",,-I.lbor
l'nlt
,. ,
l.~
1. 'J
j • 9"
-0. ]
-O.b
O.l
2. 'I'
O. ,.r
...
-' ..\
-'.9
~.
01'
10.2
I 2. )
11.6
2. I P
9.0.
----
I'OCTNOTES, tABLES 1 TO 4
Source:
Output data from the Bureau of Economic Analysis,
~rce and the Federal Reserve Board.
Compensation
and Man- hours data from the Bureau of Labor Statiatica, U.S. Department
of Labor and the Bureau of Economic Analyail.
U.S . Department of
1/ Wage s and aalaries of emplo}·u.s plus ",,.ployera' contributions for
social insurance and privata benefit phns. Except {or nonfinancill
corporations, where there are no self - employed , data also includes an esti~
mate of wages, salaries and supplemental payments for the self-employed .
21 Comp ensati on per man-hour adjusted for changes in the Consumer
Price Index.
31 Nonlabor payments includ e profits, de preciation, interest, rental
1nco.e and indirect taxea.
~I
Current dollar greas product divided by constant dollar gross
product.
51 Percent change compounded at annual rate from original data rath e r
than index n~bers.
~I
Cutrent quarter divided by comparable quarter a year ago.
21 Quarterly meaSures adjust e d to an~ual estimates of output (gross
product originating) from the Bureau of Economic Analysis, U.S. Department
of COCIIIerce.
!I Unit !loulabor cOStS inc l ude depreciation, inte r est snd indirect
taxu .
11
Total unit costa is the Sum of labor and non-labor cos:s.
101 Unit profits include corporste profits and inventory vslustion
adjU.llteent.
[HART 1 . PRODUCTIVITY . HOU RLY
COMPE NSATION UN IT COSTS RNO PR ICES
TOTAL PR I VATE ECONOM Y
(PERCEN T CH RNGE FROM PRECEDING
QUA RTER AT ANNUAL RR TE )
OUTPUT
,,
,
,
-- ---- --- ----.- --- ----- ----.-----
I
_... __
._----_._.
·•• _--- -_._--_ ..
••
...
-.---.-----.- ,,
... _._ .. _-_._-_._-------_.
.....
.
,
••
••
••
_-------------"-----------._
••
••
,••
.
•
o
- 5 -5
__ •
-5
"
"
',~~-----'~
--.---.----~---
,
.. -- .. ---
o
..
UNI T LABOR COSTS
,
. __ .. _.. -
_._.-.-._--------_.,--_ .
,
"
II .3
------ ..
-~.-.--
,,
.. --.----
o
"
I
I 0 •1
UNIT
....
----_._----_ , __ . __ ..
_---,., __ ..
,
-----_._-_._-.-,, ----_ .
__ . ___ . _____ ,
.~ _.
___ . __ _. __.• ______ .. __ ___ ,". ___ . __ . __ . __
,
,
,,
~_._
PR ICE OEFLA TOR
1966
1969
1970
"
-- .-----_. __ .. _." .. _.. _-_.__ .
-.--.-- ..
1971
1972
19B
,
-.~
.. _J.I __ I_
.. -.... -.--.-
1974
AP"t! L 25 . 19 74
j
j
o
5
o
CH RRT 2 . PRODUCT I VITY . HOURLY
COMPENSATION . UNIT COSTS AND PRICES
PR I VRTE NONFRRM SECTOR
[PERCEN T CHRNG E FR OM PRECEDING
QURRTER RT ANN UAL RATE)
OU TP UT P R
~
N~OUR
---- _. - _... _-_ ...
••
- 3.S
•
• -- - .. -............. ~•............. ~-
- -- -- ~ ·- ---- -· --- -- t --
,,
•
•
CO~PENSATION
- ---- -- ----
-.--- - .-- - ~ - --- ---- . --
'
' "
"
•
PER MANMOUR
"
,
••
o
11 .2
UhlT LABOR COSTS
••
•
"
--',
.---',.L~+_---+_--- j
UNIT NONLA60
,,., "o
PAYMENTS
,
....... ; ............. .;•... - ..
•
••
•
...........................•.......
- _.-
·
..
PRICE
•
•
--- -- - --
---.
--~--
•
.. - --.. ---+• ......
"""""'!""""""';" r'
1 9611
1969
"
,
•
-- j--- --- -- -- -- • .;- •..
••
o
•
•
.••
•
,
- ~- -
-.---·• .... -- ... ,- ...........
••
••
"
1970
1971
1972
~-e.~.
~-"J'1"
1973
1974
AP'!!L 25.\97 4
-5
j ':
CH RR T 3 .
PRODUCTIVITY . HOURLY
COMPENSATION . UNIT COSTS RNO PRICES
NONFIN RNCIRL COR POR RTIONS
(PERCENT CHRNGE FROM SAM E
QUARTER A YEAR AGO)
IV
,.,
........... ··1 -
10
1 -
0
1-
OUTPut PER MRNMOU R
5
........... ··1= ~ ~
COMPENSRTION PE R MRN HOUR
IV
I
- ..r. =.....:::::..... ··=·····=·····t····:::::·····~···t··
8. 4 1 -
10
:t.
··:::::·
····:=····· t·
··:::::
·····=·····t···:::::·····::::::······1 ------r-----+-----~----~-----+------r_--~I = l~
UNIT LR60 R COS TS
t··~
··· ·· b
·····~
······
IV 1 ' ·9
....
j.~=j............................... ······· /
=::...
-r-
·1 1 -
. . . . ..· ···.. .f.../. . c:...
l....=4=~:::::::::~:b
I
1./'
.............i~ ,., _
--=tf'-~~Sl, - o
···-·····-·--1 -
i
I
.
IV
. nn ....... n.. nnnmT·n.nnF""···=···--1~nnn m~ tn~
' ,.I,
"I
!
,
I
"I
"I
,
'"
,1
"
1- "
··········· --r ---·----·--r·--·--·······r·············j············· ....... -.... -
I.
o
1 -
UNI T NONLR60R PRYME NTS
f"jICC OE fU4 rOR
10
,
.I "
,I.'"
I ",
I
"f,('r
,I,
,1
_.1374
-5
l "
j:
CHART 4 .
UNIT COSTS . UNIT PROFiTS . AND PRICES
NONFINANCIAL CORPORR TIONS
(PERCEN T CHRNG E FROM SAME
QURR TER R YERR AGO)
>0
•
•
!
N~tlUIl!OR CO~TS PER ::.IT
,
,
i
l ~-------i---+-->---h++ - - ~TOTRL COS T PER UNI T
.............
• .... _...
........ _... - •..
~....
..•
_
-. . .
5.0
. .... + ............ . ------- -----!---- - -- ----, --
i,
--7
J 1V. -------- 1
••
_.... > ..
•
i/-='
PROfiTS PH UNIT
••
-\
!!
,
,
"
,
,
i
"
:
2.1
,
>0
>0
"
:•
"
"
"
>0
,
,
\
-,
.,,
.,,,
...
.,
_.- ... - ... - . .........•.............•............•.............•.. - . - .. - .. .
,
" j,
>0
I,,,
1969
->0
-20
...... -.... -:. _........ n, .............y.......
1966
----_ . .. _..
-"
IMPLICIT
PRICE
DEfLR TOR
,
, .
196~
-~ .
1970
.....:. -'''::.:,.:.:.:.:='
~.6
~nrn.n
... .1
1S7 )
•
1"1."
I."
.I .• '
1973
RPRll25·1974
197Z
,
@FedFRASER