Full text of Productivity and Costs : Productivity and Costs in the Private Economy, First Quarter 1976 (and Data for Nonfinancial Corporation, Fourth Quarter 1975)

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

vI@

NEWS
lIuhl", ton ,
L. J. Puleo
K. D. lIoyle
Hom*

U. S. DEPARTMENT OF LABOR
OFFIC E Of IN fOR MAT IOlI , WAS IIIIIGtO N. O. C. 20210

rSDL 76-121
R.EI.USE: U:OO A.~.
Monday, A.pcll 26. 1976

D. C. 20212

ron

(2021 S21 - 9261
(202) 523- 1913
(202) 333-1384

[~T

PROOOCTIVITY AND COST'S III TIlE PRIVATE OC(IlIm!'f, FIRST QlJAltHR 1976
(.nd dna for ~onf l n.o""hl C,,<porot1o.,... rou,..I> Qoar ..... 19H)

f'ro<l"etlvltv In the
an"""l rate of 4 . 6

~ r i v .U

~encnt

oconOliv ir>e r .,. .ed at . . . . ..,.,..l1y adJuned

In t he fiu, quaHU of 1976, t ho BIIuau of I..:I.bor

.7.9 percent Inc:u •• e In ou t ""'.0<1 a 3.2

o.~

puoent.

.-fleeting

&

The flnt

q~uter

perC~nt

t iu In ...... <o of all peUOQS

lneru . . nbOOll lobor productivity to iu hi_hut

1 . 7 percent IncTu . . in out"" • • ...:1 • 4.3 peTcent riu \"

til" fourth quartor of 19I5 .

p.odu~t1v1ty dedl~ed

0.6

pe<~cnt

1>0." •.

10

In thi • • ""to •.

In ...""fao turlns, produotivity loe r ..... o>d 1.4 peroent, as """put <QU 10.2 pucent ,,0<1

ho~u

8.1 puce"t .

P1:oductiv ity i",, <e .. ed 5 . 4 petee". in tn . p . ."iou.

A ...... ry of fi<ot ""art'" ....."r. . ao"""ro

~n

uble A: detaU. in ubi ..

l-3.
CO/'ll'e~5A!Ill'I

t hh ..... "" ...
~e,cen.

""1) iA!!0Il COST

Th. rl .. in c","pe". . <1on bove\Ie, . ..as ou<ioUy oH •• , bv <h. <..6

ti.., in productivity 00 tit", 'he inc ....... in unit 1.b<>, coot .. u




3.1 pe,cen<

,

Tabl. A.

pu~...,e

Cha"3* at An ...... l Raa In Productbtlty and Coni
(Seasonally .o.<IJ"o,...:I)

4th QuI<U< 19n

"

be Quute< 19J6

hour of .U peroonl
Campen •• tion per h",. .
co,tpYt

~,

lin! t hl><>r CQlt

'u' .""'pen.... tt""
Output

~,

~,

Hour.

•••
..,
,.,'",

..

",

,0<

-, -,

Output
hour of
C""penutl"n
~nU labor COlt

,0<

R&al ."'"pen •• , Ion
Out!""
Houro

.U person.

~,

lot QuHur 1975

"

J . . Qu&<ter 1976

,.,
'"
0. •
,,.,..

".

,.,
,..
..,
'.0
..,
'"

•".••

".

•,.,••
0.'
..,
..,

,..

LO

'"
",

~nuf.ctur1n!l

(Puit!linl'y)

Output per bout of ,II person.
Cocpen •• tlQo per hour
l'ott lobo, coot
Real cOIOoenoation pu l10ur
0..<;...,
Ho~u




•••
,.,
'.0

..,

10 . 2

",

,
ducl",

th~

pero~nt,

qU.Ht~ t.

in the la" o:uarte< of 19H. unit 1.1><>< coot 'n.uu<>d 7.1

. . houTiy cOIIpe" ... Uon rose 1 . 8 peru", hu, pn>du.tlvity edged up only

0.6 puce",.

lui h>urly .","pep_ •• tloo (hoorl)" <"",pea .. ,lo,, .d.lune<J by the

eo" ......... Price Index) lI,c .... N 1. 7 rercen< in the flut qun'u, 'he lUEU'

quutuly Increue in 3 yuu.
In the Mot.,..., Se<:tOT. boudy co.pen ... t1on !ocu.. <d I.e

hbor coot ina.nod 4.1

(U'\~~f..~

fOlffi1H

fo~<ti>

Ie tb.

ti¥it,.

per<e~"

ufl""t1,,~
1~15.

quaner d

fiGURES FOR

NO/:n:>_'~~C"'L

"nit !.!><>c co.t

bQo,"

r.rc~nt

In the fOUrth

TOS. 5.6 pe«ent.

.h~

u".

a"""'n<.

Rul <""'pe" ... t!on

uceptlon of N.nk. , credit

<:~.<tn

Tho i!>CTUU In

p~T

a~enc1u,

1~15

c"",p~nUtlon

~

baoed or. pulltotn.o.ry

p~TCenl.

.. ock .nd

.bn"

f~uru.

10.2

ro~-

1.1 peroent (the ......

U~lted

~"""""H)"

va.

t)",

brok.er<, ancl InsuT.nce

In the ucoDd a t>;! third

.

pTodu<tlvtt~

p~rcent

t~*

flTst d u .1",,* ,h* fI.st

~ Tovth

~.In •

Statu, ... Uh

up

3.~

percent. IIO<Jdy

up 10 . 0 percent . • Dd unit lobor coot up 6.3 percent.

had bun reported eo 3.9

19)~ fo~

hour I<>eT .... eo; 0.7 Fucen< In .hla lec'"r,

,"ore tMn o!foet the c""'p*" .. ,lon

R""loed annuol !llUTU fOT

1.2 perc.n,.

quuuu) and unit labor co.t ro.e

l.boT coo,

un~'

j~"u"ed

f.,.,rth GuaraT 0'

l>uolnen In the

~OIQg

\""'''''0. in pTodue-

.. ""'put hcU"'od 5 7 percen, .nd

of 1975 • • 1"" .. the "Tong pre>d""tlvUy

~.rtuo

These c .... ngu

and 6.1 porcent. Tupe«tvdy.

rnt , pToflu ro .. 28 . 2 percent. nthu thon :;1.1

puc .. "t, as previously , .. ported.




~uaner

~on.~~HH

...hlch IDOl..:! . . . 11 co<poUtlono

e,,",po.niu.

,~.•

C""'peosatien peT I>ou, I""- ..... .

n t . wh1ch h..o. F,<'Valled lor 3

while unit

COIlMR,\T10';<:

Pr"';ucth'H" e nd Teh:od IIU",,' •• fCT

lncuuod 0.1

perce~t

the 1.3

ptTC~nt

Sec t abl e 4 fOT deull ••

Tabl~

scao. .M

B.

~etCe"t

(:c... nge In Pnxl"ctivlty and Coo .o at ADoual R.ou
(S .... . o""ll ~ MluUod)

'"

I,,,,,

Q\!artu 1915

,.

4th QuaTtu 1975

(pu 1iI:Ilnary)

of

(F~tpu ,

o~r

flo u r l)"

e~~pc·'"..'lo"

~nH

:_oor

l»u<

all

=nioyu.

c~H

~al co.~cn.atlon

~~,

bouT

0.>
~.J

1."

o. ,

<lot!""

~.7

K""r.

~.

6

QuaTtc. 191.

"" ,.
""

Q\!_ " e r 1975
(<ev i>od)

,,.

..
;

! ..

The pr oduct,vHy a!>d coa< ",e.... ru conuieed le this <eIUU nil",,,




t~.

,

18to, ha. bun PHPUed by th.

DIYI~ lon

of

D.C. lO'i02 , ere ! .... ~. .oru. or

_ teiON I - tOSTW
John flt'ler.,d hn"oody Fede. . l

Ga.ern..a. Len.e. - Joo. 160] A

10.,01>.

l~l~ Broodva1-S~I.e
Yor~. ~.Y.

lLCtON III _

)400

10036

~ILAnF~PH1A

lSlS Harke. Street

P.O . ~~ 11]O~ (Zip 191(1)
Phll.delphla, Fa .
lEGION IV _ ATUL~A
ll1l Puch,ree St Uet, S.£.

Atlan.a,




~LS

Produc t ivity StudlU .rod

Jqlcnd Offlo . .

It"'~

hdov .

REGION V _ CHI CAGO
8Id~.

no s. P.. <bou Snut
Chloelo, 111.

~0604

1Ia ••• 0210l

lEGION 11 - "Ell lOn

Nev

Ir>o!~ . 'r~

ea .

]0]09

J.EGIOll \' 1 - D.t.1.US
iH C..U fJ~ Sq. , lnd Pl.
Doll .. ,_T.,. . 75202
lEGIONS vn & VI II _ U.~ SAS CITY
9ll Walnut Str u,
1:.0<...... City . 110 . 64101>

REGI~S

IX & X -

S~~ ~ISCO

450 Golden c...u A.v~ . , 10K 36011
San fr ancisco . Cd!! . 91.102

TABlE
IIOVAlT
H~A

'"'

OUTPUT
.~.

'lllUHR

,
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"

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:''''lV·Il
I

JI~

,
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RUl
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IrINU~l

I Jl.

,

r _ P'; "l II"

',.\~Y




UIII T

11011 PlR

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U"I T ·,ONLAlOR PAY-

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lH.I

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III,SP

110.0

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"OU"" Y CO (l P[NShfIO': , Ulr ' f CO:; f, 1.:1' r~IC(s . S[hSO,jhllY ,\OJ "Sl l" n

YEAR

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TARlE J. ,"l ljU FACTURUlG S(CTOR : OUTPUT PE~ HOUR Of All P(~$ONS. HOuRLY

COMP(NSATION. UNIT LABOR COST. SEASONALLY ADJuSTED
.1>.0

1I.1~

1UIRTEn

,
'""
"
,

In~

OU TPU T PER
1t0U~ OF
hU PlR$ON~

.lU TPUT (II

"OURS

INDEIES
II o. :
1I1.0R
Ill. n
II S .U

0'

REAL tONPE NSAT I ON
PER I!OUR OF All
PERSONS(21

V,,,,COSTLABOR

1~61 ' I DO

110. :
110.n
11 0.2
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IH.:

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TH.H

COHPENSATION PER
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P£RSOHS(II

. IR

IR

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t S~ • 0

I~I~

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PERcon C" " NG E f~OH PREVIOUS HAR nl

J. In
'.111

SEE fOOTNOTlS
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CIIAHG E FROH PREV I OUS O:UARTU AT ANNUM RATE HI

FOLlO~IHG

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SOYRC(: IUR(AV OF LAlOR STATI STICS
APRIL !6. 191~

..,

YEAR

QUAUU

,

fAllE _. NONrlHAHC(Al CORPOUTIONS, PRODUCTIVITV, HOURLY COMPENSATION
UNIT lABOR COST, ~NIT PROFITS ANO PRICES, HA$ONAll Y ADJUSTED
OUTPUT
PtR AU[HPlOY[[
IlOUR

OUTPUT

HOURLY
COMPENSATION

HOURS

'"

REAL
HOURLY
COMPE N$ATION(1)

UNit
HOHlAIOR

UMIT
lUOR
COST

COSH"

TOTAL
UNIT
COSt

UNI T
PRO -

'"

ClO I

HJ.J

If. ,

ISJ. ,
160.0
IS I . J

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PREV IOUS

I.U

2.0n

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CH4NG(

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12. 6

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P • PR(LII1I1!~Rf
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- 1. G

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YE~R

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L.IP

SOURCE: BUREAU or lASOR S TAIISII CS
APRil 26,

Foon;OTES. TABLES I TO 4

SOURCE: Output data fro~ the Bureau of Economic Ana1YBis, U,S.
Dep"nment ot Co_uce and the Federal Reserve Bo"rd. Compenaation
and hours data fro," the Buruu of Labor St .... UBtits. u.s. Depart",ent
of t .... bor and the Bureau of Econo",ic Analy31s.

(1)

W"ses and salaries of e",ployees plus employers' contributions
for sodal insurance and priv .... te benefit phns. Except for
nonfinancial corporations. where there are no self-employed,
data also includes "n est~t e of ~ages. salaries, and supplemental pa~e nts for the self-e~ployed.

(2)

Co~pens"tion

per hour "djusted for changes in the

Consu~r

Price

Index.
(3)

Nonlabor pa,..,ents incl ude profics, depreci"cion, interest. rental
and indirect taxes.

inco~

(4)

Curr"nt dollar gross p roduct divided by const an t dollar gross
product •

(5)

Percent change compounded a: annual rate from original data
rather tc.~n index n"",bers.

(6)

Current quarter divided by cOlOparable

(7)

QuarterlY measures adj~ted to an~ual esticat~s of output (gross
product originating) he", the Bureau of Econot>.ic An"lysh, U.S.
Depart,"ent of CO,"",Hce.

(8)

Unit nonlabor costs include depreciation,
taxes.

(9)

Tual unit costs is

(10)

th~ ~UIO

quart~r

a year ago.

inte~est.

and indirect

of h bor "nd non-labor COBtS.

Unit profits include corporate profits and inve ntory v"luation
adjustment .




rH RR T 1. PRODUCTIV I TY. HOURLY
COMPENSR TI ON. UNIT COSTS RND PRICES
TO TRL PRIV RTE ECONOMY
(PERCEN T CHRN GE FROM PRECEDIN G
QURR TER RT RN NUR L RR TE )

,

OUTPUT PER HO UR OF AL,L PE RSONS
-~

,,

,,
,
.. -. -----.-,, -----------.,,,,
,,

<,'

,
o

,

..
.
.:
ER HO UR Of ALL PERSONS

-,
, "
,.,
...

-------i----------.· .~ ............. ..;. ..... ········i· ...... ····i····· .. ·· .... ~· .... ··· ..... .

··i

..
..
COMPENS ATION

,

,,
,
,,
,,
,,
...................................
,,
,,
, ....... ..... .
,,
,,
-- .---.~--.-

~

U~IT

LA60~

COST

,

,

,
,
...............................
,
,
,,

.

·

-- - -- --- - .- .. ,-" .........................

:
.
,

,,

,

.

o

,,
,

.

,

..

. .............•.............•............. ............ .
,..

~

:

~

,,
UNI T NONLABOR PAYMENTS
,
,
... ,, ............ .
-------· --- .. 1·_···········.·············
..., ·············:, .............•........
,
,
,,
,
,
,
:
:
:
:
:
....... ,,
,

·
.
............. , ............. , ......... --.-.,. -.--- ------ f--------·,,
,,
,,
..,
,
,
·············t············-··· -··---- ----7- --- · - - - ----. ~ :,,
'
"

. j . - • •••.

,,
,

---- ~

1970




1971

1972

~.·~·~·~·:·:·;.;·;·;.'·~r

.... . .

..,

,,
,,
,, ....... ,,

20

.~

-,

,

,

:

,,
,

,,
,
,,
,,
,,
,

2.4

"
,

-------- -

,,
,

1974

1975

"ee

,
o

-· -·--f,

1973

"

............ .

IM
,PLICIT PRI, CE DEfLATOR
,

........ -.- -- .------------- : --------- --·T...... ,_ ............ -

-,

~

······1···
, .... ·---· - ,- .--.--. -----

..

,

1976
26, 1976

CHART 2. PRODUCTIVITY, HOURLY
COMPENSATION UNIT COSTS RND PRIC ES
PRIVArE NONFARM SECTOR
(PERCEN T CHANGE FROM PRECEDING
QUARTER AT RNNURL RRT E)
••
I
•••
3
.3
•
--'"---- .. -- .....
••
••

OU TPUT P£R HOUR OF RLL PERSONS

••
-.•• -- -.---.-- -- -.---••
••
••
••
•

-.

.. ••
•
•

••

",
0

- ············;·············i·······-···-··~·-·--···-----,;'
,
,
,
, ·'···--·······'·'·~-1----·-·--·--·-:--,
, ---··-----·

·

·,
.,
COMPENSRT!ON

-

.••

,

PER

,

HOUR OF

,

RLL PERSONS

.........................•............. •

·

...... ....- .. .
~

••
•

-.--. ~.- -

.. -

- _..•.............

~

............ .

~.--+---+---~---+--~------~

I

UNi T LABCl R COST

k····r·····;··· · ·

..............-.. .

~-i

•
.. --- .- ---~---•
••

••
•

i

••
••
••
•

..... - .. --.- - ;., --.-- - -- ---- ~,--- - -.- .-. -- -~, ............. ,~ ..... -....... ~.,

·,•
-------..
·

~--- -

,
,
.
.
•
•
.. --..... + .. ···········f····
.•••

--..:.-- .. -- -. --

,

•

j •••••••••••

,

I

+ ... -... -.....

••
••
..........•.............
•
•

, .I

~

i,

"
. -.------- -.-j., -.......... ~,............. .J., ••••••••••••• ,, ••••••••••••• ;,••••••••••••• ..:.-, •••••••••••••

,
•"
••

,

,

.- ••••••••••• : •••••••••• IMPLICIT PRICE OEFLRTO R

i

:

•
••
•

--- .......... ! .......... -.. ~.......
--- --- , -----

,

,
•••

"

' :

......... +• ............ .

'

••

•
---- .-

"
,
10

.,
20

•••••• : ••••••••••••• ..!. •••••••••••••

•

0
2C

0

i"

,
,•
••

j

0
20

•••
••
•

i

UNIT NONLABOR PAYMENTS

~ ",
,

•

·i·············j···

••
••

"

"to

..•••••

•
•

·s

-- ~ --

"

10

,
0

1970




1971

1972

1973

1914

1975

1976

APR 26. 1976

CHRRT 3 .
PRODUCTIVITY . HOURLY
COMPENSR TION UNIT COSTS RND PR I CES
NONFINRNCIR L CORPORRTIONS
(P ERC ENT CHRNGE FROM SRME
QURRTER R YERR RGO)
OUTPUT PER ALL- EM PLOY,EE HOUR

..

.
:
...........................................
-- ,
,
,
, - ... __ . _- -_ ..•, -. _--- ' "
,

_

.~.........L .......... -~.. ------------~---.--.------ i ---- -..-- ----1

--: -_./ .

,,
,
,
,
_............•....
_....... -- --, -.-.-- ...... - •... - ... -- .. -- .,-,
,,,
,,
COMPENSATION PE R ALL-EMPLOYEE HOUR
,
,
,
- - - - ,,,.. - - .. - ...........................................
······ -··· -·- l----,
,
,,
,
,
-_._--.---... ,............. ,,•............. +....... . .... ,............. •.............
,
,
•
,•
,•

.
..

,·

,

IV

6 .9
_-_ ......... ,
, ............ .

..

UNIT LAElOR COST

·

.
.

,
•
,
'·---··-··· .. ·+, .. ···········1 .. ··
•

·
••

i

......

,··

....... ....

,.",
,
,•
............ .
,
•

"".

.

UNIT NONLABOR PAYMENTS

~.~
• . . . ........
.•
..•
•

............. "......

••

.

.. ..... .

::::::c·;v :. :\.::.::. ::::...I/ t
·

..
.,,
.,,
.........................

- ...........

,
,
,
,
••
... - ................ ~ ............. ;•..... .
•
•,
••

·

1969




·

1970

197 1

1972

:

-

•

-'j-t---~.... ,............. .,..- .. ... .. .

1973

.

,

o
15

"
5

"
5

.
.,
,

IM PLI CIT PRICE DEfLA TOR

,
-.....
_- - - -- --- .,,-- -- -.- - -.- ,,
,

5

10

--.. -.. ·1,.. ·· ........ -1.,........ ····-·c·--··--··---_.--.._- .. --... ':" ....... -... t, ........ ! \...
""
:

10

1B • 1

........ ·• __ ·1 _·· __________ ~. __ . .. _....... ~ ............. : ............. ,._ .... . ... __ .~ _ ... _

,,
,,,
,,
,,,
,,
,,
,
,
,
,
•• -•• - -. --•• • J............. , ..... ....... _.+ ..... _.. _.--·1···· ·_ ·· .... -,............. +...
,
,
,
,
,
,
,,
,""
,
,
,""
,

15

25

l'

i

.

. ... .

-5

o

••
•

.

5

o

1.,

·
..............................
_._.. _.. _--.,., -

"

--

-

o
-5

"

10
5

o
197~

1975

APR 26 . 1976

CHART 4 .
UNIT COSTS . UNIT PROF IT S RNO PRICES
NONFINANCIAL CORPORATIONS
(PERCENT CHANGE FROM SAME
QUAR TER A YEAR AGO )
,,
,

UNIT

LA80 ~

"

COST

:
- - - -••• -- -- --i---------- .. : .. ·· ........ "'i": ••••••••••••• .: ••••••••• ••••.~~C::'
• ••••••••••• -;- ••

.

~-

"
,
,,
.
,
• •, ... _---- --_ ---•
.
,
.......... ,,,........... - ...............
--,
----_
...
..
,
.,
,
,,
•
,
,,
,,,•
-_... - _. -- - -- .,-._--- --- UN I T NONLA80R COST ................•.....
••
••
•
•
•
--- .-. - ..
..........................
-.- ,,
••
,

·

'//----,

.

- - - j- -------- -.-.~- ­

,,•
,

..

··

·

-~

.
.

·
.
·
.
C-',_··f·············j······
---_

>0

;

-

~

0

l"

,;

1
]
>0

--- - ~-

! \'
............ _-,_ .......
_-

;

0

•

••
IJNIT COST
_1•_____ ___ _....TOTAL
"_ - ...........
•
.............•.............
~

•

l~,"··········i·······
-- ····
,,

-tv- -

•

••

•
---..... +.

----_.. _---+--_._----•

••

"
"
;

0

,,
••
............. ,•............. ......... .
1-········_···,·············+···
,
,
•
•
•
•
••
••
••
•
•
••
•
••
••
,,
•
,,•
,
............ - , _... _---- --- .,....... ... -- ------ .•••- ---- _.... .
,
,,
••
•
,
•
••,
••
"' T PR OfIT S
••
•
•
_._ ........ +•• .
•••••••••• _j ••• _. ------- -. -- -+ ----- ------1••
•
••
••
••,
••
••
••
•
•
••
•

,

,.

.
..

.

..

__

·••

.••

.••

.............................................
. --- -

·•

.•

_ ______ L




..

---- - . ---- -~

-- -. --

1969

.·

1970

1971

.•

-_

__

1972

....• __ .-

"
"
>0

;
0
-;
->0

-IE

-"
--_ .......................... _. -

\973

1974
1975
APR 26. 1576

-25