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y U.. S. DEPARTMENT OF LABOR
NEWS
Washington,
L.J. Fulco
K.D. Hoyle
Home
D.C.
(202)
(202)
(202)
liJ
BUREAU OF LABOR STATISTICS
USDL 75-51
FOR RELEASE: 11:00 A.M. E.S.T
Monday, January 27, 1975
20012
961-4597
961-2913
331-1384
PRODUCTIVITY AND COSTS IN THE PRIVATE ECONOMY, FOURTH OUARTER 1974
•
(and Annual Averages for 1974)
Productivity (output per man-hour) in the private economy declined at an annual
rate of 5.1 percent in the fourth quarter cf 1974, compared with a 2.3 percent decline
in the third quarter, according to the preliminary figures announced today by the
Bureau of Labor Statistics of the U.S. Department of Labor.
The fourth quarter
decrease in productivity reflected a 10.1 percent decline in output and a 5.2 percent
decline in man-hours.
In the nonfarm sector, output per
man~hour
declined 3.7 percent in the fourth
quarter, compared with a 2.4 percent decline in the preceeding quarter.
This marked
the seventh consecutive quarterly decline in this measure and reflected a 9.0 percent
decline in output coupled with a 5.5
per~ent
decline in man-hours.
This is the
longest period of decline in productivity since the series began in 1947.
In the
farm sector, the decline in output per man-hour was substantially greater than in the
nonfarm sector during the quarter.
In the manufacturing sector, output per man-hour increased 0.6 percent in the
fourth quarter, compared with a 1.3 percent decline in the third quarter.
I
The
/
increase in productivity resulted from · a larger decline in man-hours (13.4 percent)
.
,
than in output (12.9 percent).
These were the largest declines in both output and
man-hours since the fourth quarter of 1970.
From the fourth quarter of 1973 to the fourth quarter of 1974, output per man-hour
declined 3.7 percent in the total private economy, and 3.6 percent in the nonfarm
'sector and increased 0.8 percent in manufacturing.
appears in table A.
A summary of fourth quarter data
Details are given in tables 1-4.
NOTE:
The productivity and
related measures contained in this release are based on revised measures of man-hours
unless otherwise noted.
2
_., 1 I~~t.
:t>".o"-,
Table A.
l1i~
Percent Change at Annual Rate in Productivity and Costs
(Seasonally Adjusted)
Sector and Item
3rd Quarter 1974
to
4th Quarter 1974
4th Quarter 1973
to
4th Quarter 1974
Total Erivate econom~
(Preliminary)
Output per man-hour
Compensation per man-hour
Unit labor costs
Real compensation per man-hour
Output
Man-hours
-5.1
8.8
14 . 7
-2.8
-10.1
-5.2
-3.7
9.8
14.0
-2.0
-5.6
-3.7
9.1
13.3
-2.6
-9.0
-5.5
-3.6
9.7
13.8
-2.1
-5.5
-1.9
- ~ .O
Nonfarm Sector
(Preliminary)
Output per man-hour
Compensation per man-hour
Uni t labor costs
Real compensation per man-hour
Output
Man-hours
,
Manufacturing
(Preliminary)
Output. per ,man-hour
Compensation per man-hour
Unit labor costs
Real compensation per man-hour
Outpu.t
Man-hours
0.6
13.5
12.9
1.4
-12.9
-13.4
0.8
11.3
10.4
-0.7
-4.5
-5.2
l
f~"
Compensation and Labor Costs
Compensation per man-hour (which reflects the costs of wages, employer
contributions to Social Security, and other fringe benefits) increased 8.8 percent
in the total private economy, compared with a 10.2 percent increase in the preceeding
quarter.
The increase in compensation per Ean-hour, combined with the 5.1 percent
decline in productivity, caused unit labor costs to
~ise
14.7 percent in the fourth
quarter, the largest increase since the first quarter of 1974.
Real compensation
per man-hour (hourly compensation adjusted for changes in the Consumer Price Index)
declined 2.8 percent.
In the nonfarm sector. compensation per man-hour rose 9.1 percent, while unit
labor costs increased 13.3 percent.
However. the increase in compensation per
man-hour was more than offset by the increase in the CPl. so real compensation per
man-hour declined 2.6 percent during the quarter.
This was the seventh consecutive
quarterly decline in real hourly compensation.
In manufacturing. compensation per man-hour rose 13.5 percent while unit labor
costs went up 12.9 percent, reflecting the small increase in productivity in this
sector.
Real compensation per man-hour increased 1.4 percent in the fourth quarter
in this sector. compared with a 2.4 percent decline in the third quarter.
Annual Review of Productivity and Costs in the Private Economy:
.
1974*
In 1974. productivity in the private economy fell 2.7 percent--the first year-toyear decline since 1947 when the series begins--compared with growth of 2.6 percent
*Yearly comparisons in this section are based on the annual averages for 1973 and
1974. In the preceding sections, the yearly comparisons are based on changes
between the fourth. quarter ~f 1973 and the fourth quarter of 1974. Thus, the
annual average index for output per man-hour in the total private economy was
114.8 in 1973 end 111.7 in 1974 for an average annual decrease of 2.7 percent.
For this same series, the index was 114.5 in the fourth quarter of 1973 and
110.3 in the fourth quarter of 1974 for an over-the-year decrease of 3.7 percent.
I'
4
Table B.
Annual Percent Change in Productivity and Costs
.
(Preliminary Data)
Sector and Item
1973
1974
2.6
7.7
4.9
1.4
6.2
3.5
-2.7
8.7
11. 6
-2.1
-2.6
2.4
7.4
4.9
1.1
6.2
3.7
-2.8
8.8
11. 9
-2.0
-2.7
Total private
Output per man-hour
Compensation per man-hour
Unit labor costs
Real compensation per man-hour
Output
Man-hours
O. 1
Nonfarm sector
Output per man-hour
Compensation per man-hour
Unit labor costs
Real compensation per man-hour
Output
Man-hours
O. 1
Manufacturing
Output per man-hour
Compensation per man-hour
Unit labor costs
Real compensation per nlan-hour
Output
Man-hours
"
\.. ....
~
5.5
7. 1
. 1.5
0.8
11. 0
5.2
0.7
9.5
8.8
-1. 3
-0.8
-1. 5
in 1973.
(See table B.)
The effects of the business slump, inflation, and
increasing labor compensation were reflected in record year-to-year increases in
compensation per man-hour and unit labor costs, while real compensation per man-hour
declined.
The same pattern prevailed generally throughout the economy; a partial
exception was the manufacturing sector where output per man-hour increased 0.7
percent, following an increase of 5.5 percent in 1973.
The productivity gain in
the manufacturing sector is attributable in part to ·the greater speed with which
man-hour inputs are adjusted to declining output in that sector.
Table C.
(
Annual Percent Change in Output and Related Measures, 1974
(Preliminary Data)
Output
,
Total Private
Nonfarm
Manufacturing
(See table C.)
-2.6
-2.7
-0.8
Employment
Man-hours
1.2
J.• 2
-0.2
0.1
0.1
-1.5
Average Weekly Hours
-1.0
-1.1
-1.2
Output moved erratically downward throughout the year in the private sector. for
an overall decline of 2. 6 percent compared with declines of 2.7 percent in the
nonfarm sector and 0.8 percent in
~anufacturing.
Man-hours rose 0.1 percent in the
total. private
and nonfarm sectors and declined 1.5 percent in manufacturing.
,
Compensation per man-hour rose sharply, led by manufacturing at 9.5 percent;
gains of 8.7 and 8.8 percent were reported in the total private and nonfarm sectors,
respectively.
Real compensation per man-hour, however, declined in all sectors as the
rise in the Consumer Price Indea outstripped hourly compensation gains.
Unit labor costs-- which reflect changes in compensation per man-hour and labor
productivity--rose 11.6 percent in the private economy, 11.9 percent in the nonfarm
i
sector, and 8.8 percent in manufacturing.
The differences in cost increases reflected
,
the differences in productivity changes for the year.
(~.'
''':''If
TOTAL PRI. . f ECONOMYI OUTPUT PER MAN-HOUR
TABLE 1.
HOURLY COMPENSATION. UNIT COST. AND PRICES. SEASONALLY ADJUSTED
YEAR AND
QUARTER
OUTPUT PER
MAN-HOUR
oufPUT
MAN-HOURS
----1973
UNIT NONLABOR PAYMENTS(3)
IMPLICIT
PRICE
DEFLATOR(4)
--INDEXES 1967=100
108.3R
109.3R
11 O. 2R
110.7R
147.6R
IH.6R
lSl.6R
lS4.9R
114.7R
l13.8R
112.8R
l12.6R
l28.0R
l30.3R
132.SR
l3S.2R
l19.7R
l22.lR
12S.5R
128.3R
124.8
127.1
129.8
132.5
ANNUAL
114.8R
125.8
109.6R
lS1.IlR
113.4R
131.SR
12 3.9R
128.6
I
II
III
IV
112.3R
112.4R
lll.8R
II 0.3"
124 .2
123 . 6
122.9R
119.7P
llO.6R
lO9.9R
109.9R
108.SP
lS7.3R
162.SR
- 166.SR
170.0P
lll.3R
l1l.7R
l11.lR
11 O. 3P
l40 .lR
144 . SR
148.9R
lS4.JP
13l.lR
l32.SR
136.4R
140.2P
136.6
139.8
IH.O
148.7P
ANNUAL
111. 7P
l22.6P
109.7P
164.0P
111.0P
l46.I3P
13S.0P
142.2P
-----
1974
UNIT
LABOR
COSTS
124.9
125.6
126.1
126 .8
IV
1973
TION PER
MAN-HOURll)
REAL
COMPENSAlION PER
HAN-HOUR (2)
11S.3R
l14.9R ..
114.4R
114.SR
I
II
II!
1974
COMPENS~-
PERCENT CHANGE FROM PREVIOUS QUARTER AT ANNUAL RATE(S)
I
II
III
IV
S.7R
-1.7R
-1.6R
O.SR
10.0
2.1
1.6
2.3
4.1R
3.9R
3.3R
1.7R
12.9R
S.5R
S.3R
9.1R
6.7R
-3.lR
-3.6R
-0.6R
6.7R
7.3R
7.0R
8.SR
4.7R
8.3R
Il.6R
9.1R
6.0
"' .6
8.7
8.7
ANNUAL
2.6R
6.2
3.SR
7.7R
1.4R
4.9R
7.0
5.7
I
III
IV
-7.SR
O.lR
-2.lR
-S.lP
-7.8
-2.0
-2.3R
-lO.lP
-0.3R
-2.3R
0.0
-S.2P
6.SR
13.7R
10.2R
8.8P
-4.5
1.6
-l.3R
-2.8P
lS.lR
13.3R
12.8R
14.7P
9.2R
4.2R
12.lR
11.9P
12.9
9.9
12.6R
ll.6P
ANNUAL
-2.7"
-2.6P
o .IP
8.7P
-2.1P
11.6P
8.9P
10.6P
II
PERCENT CHANGE FROM CORRESPONDING QUARTER OF PREVIOUS YEAR(b)
1973
III
IV
4.9R
3.lR
1.9R
0 . 7R
, 8.6
6.8
5.5
".0
3.SR
3.SR
3.6R
l.2
7.4R
·f. SR
7.6R
8.1R
l.3R
1.9R
0.7R
-0.2
4.2
S.6R
7.4
S.6R
6.SR
7.8R
8.4
3.6
5.0
6.4
7.7
ANNUAL
l.6R
6.2
3.SR
7.7R
1.4R
4.9R
7.0
5.7
I
I!
2.1
O.6R
-0.2
-2.0P
6.6
8.6
9.8
9.8P
-3.0
-l.8R
-1.SR
-2.0P
9.4
10.9
12.4
14.0P
8.5
Iv
-0.5
-1.6
-2.SR
-5.6P
9.5
In
- 2.6
-201
-2.3
-l.7P
B.7R
9.3P
9.5
10.0
ll.O
12.2P
ANNUAL
-2.7P
- l.6P
O.lP
8.7P
-2.1P
11.6P
8.9P
10.6P
I
II
1974
SEE FOOTNOTES .FOLLOWING TABLE 4.
R-REVISED
P=PRELIMINARY
2.4
JANUARY 27. 1975
SOURCE: BUREAU OF LABOR STATISTICS
1,("
r
TABLE 2. PRIVATE NONFARM ECONOMY: OUTPUT PER MAN-HOUR
HOURLY COMPENSATION. UNIT CbST. AND PRICES. SE ASONALLY ADJUSTED
YEAR AND
QUARTER
1973
1974
OUTPUT PER
MAN-HOUR
OUTPUT
.
MAN-HOURS
COMPENSATION PER
MAN-HOURI})
1974
UNIT
t..ABO P.
COSTS
UNI T NON·LABOR PAYMENTS(3)
IMPLICIT
PRICE
DEFLATOR (4)
INDEXES 1967=10(l
ll5.2
lZ6.0
lZ6.8
127.1
109.9R
111. OR
111.9R
112.3R
145.SR
147.6R
1"9.7R
lS3.0R
113. OR
l1l.3R
111."P
111.ZR
ll7·II R
130.11'
132.1R
13S.2R
116 . 1R
116.7R
117.9R
120.1R
123. 4
125 . 0
126.7
lZ9.c;
113.4R
126,3
111.3R
149.0R
111.9R
131.3R
117.7R
126.2
III
IV
111.SR
110.7R
110.1R
1II9.0P
124.7
123.7
Il3.0R
120.l?
111.8R
111.7R
111.8R
11 0 .lP
156.0R
160.lR
164.lR
167.9P
110."R
II O. 2R
109.6R
108.9P
140. OR
1..... 7R
149. ~R
153.9P
ll3.9R
ll8.7R
13l.AR
13S.9P
133.9
138.7
Hl.O
147.1P
ANNUAL
110.3P
12l.9P
lll."P
16l.01->
109.7?
I_b.9P
130.3P
140.bP
II
1I I
IV
113.9R
113.4R
113.3R
113.2R
ANNUAL
I
II
I
PERCENT CHANGE FROM PREVIOUS
1973
RE.AL
COMPENSAnON PE~
MAN-HOURll)
QUART~R
.- ---- -. -~-~---
AT ANNUAL PATE(S)
II
III
IV
4.3R
-l.SR
-0.5P
-O.SR
9."
Z.S
Z.S
1.1
4.9R
4.1R
3.0R
1.':R
11.2R
5.9R
5.9R
9.1R
S.lR
-l.7R
-3.1R
-0.7R
6.7R
7.6R
ANNUAL
2.4R
6.2
l.7R
7.4R
-5.9R
-2.5R
-Z."R
-l.7?
-7.5
-Z.9
-Z.3R
·-9.0P
-1.8R
-0.4R
o .1R
-S.sP
-Z.8P
-Z.7P
O.lP
I
I
II .
III
IV
ANNUAL
9.6R
-1.6R
Z.IlR
4 oil<
7.7R
3.6
5.6
5.6
9.0
1.lR
4.9R
2.5
4.1
8.1R
11.3R
10.2R
9.1?
-3;OR
·· O.SR
-2."P
-2.6?
14.9R
14.ZR
13.0R
13.3?
13.2R
16.6R
13 , 2R
9 .AP
l".Z
15.1
13.1R
8.8P
-Z.OP
11.9P
10 . 6P
11.4P
3.5
6."~
I2.a?
PERCENT CHANGE FROM CORRESPONDING QUARTER Of PREVIOUS YEARI6 1
1973
III
IV
4.7R
3.1R
1.·SR
0.4R
8.7
6.9
5.6
3.8
l.9R
l.7R
4.0R
l,"R
7.IR
7.4R
7.3R
8.0R
2.9R
1.8R
O.SR
-0.4R
2.3R
".1
S. lR
7.6
2.7R
2.l
... OR
l.O
5.9
ANNUAL
2."R
6.2
3.7R
7.4R
1.1P
4.9R
2.5
4. 1
I
III
IV
-2.1
-Z."R
-Z.9
-l.bP
-0.4
-1.8
-l.o
-S.sP
1.7
0.6
-0.1
-1.9P
7.ZR
8.6
9.7
9.7P
-Z.l
-1.8R
-1.6R .
-2.IP
9. 6
11. Z
12.9
Il.8P
6.7
10 .3
lZ.6R
1l.2P
8.5
10.9
lZ.8
ll.6P
ANNUAL
-Z.8P
-Z.7?
O.lP
8.8P
-z.oP
11 .9P
10.rip
1l.4P
I
II
1974
II
----- SEE fOOTNOTES FOLLOWING
R=REVISED
P=PRELIMINARY
2.'t
4."
TABLE .. .
JANUARY 27. 1975
SOURCE: BUREAU Of LABOR STATISTICS
;:ab l", 3. Manll f a<!t urlilg Sector ; Out?ut per Man-hour , Hourly
Compensat i(ln , ·ticait Labor Costs, Seasonally Adj ust ed
Year and
Quarter
Output per
man- hour
Output (7)
Man-hcur s
Compensati on ne r
man-hour ~ll
Real Compensation
pe r man-hour (2 )
Unit Labor
Cost
Indexes 1967- 100
1973
I
II
III
IV
12l.2r
12S.2r
129 . 2r
128 . 6r
129.9
132.3
133.9
134 . 3
102.2 r
103 . 2r
103.6r
104 .5r
14l.4r
l45.9r
148.1r
151. 6r
111. 41:
110 . 9r
lle . 2r
110 . 1r
112.S
113.8
114.6r
117.9
Annual
1974
I
II
III
IV
128.3r
132 . 6
10 3.4r
147.3r
tlO.6r
114.S
128.2r
129.Sr
129.4r
129.6p
132 . 3
132.9
132 . 8
· 128.3p
10 3.2r
102 . 4r
102 . 6r
99.0p
\S4 . 0r
159 . 4r
163.4r ·
168 .• 6p
10S.9r
109.6r
109.0r
109 .3p
120.1
122 . 8
126.2
lJO.1p
Annual
129 . 22
109.22
124.82
l.Or
-1.9r
-2.6r
-0.2r
-0.1
3.5r
3.0
11 . 9
1973
I
II
III
IV
131:50
161.22
101. S2
Percea t Change f r om Previous ~arter at Annual
9.0
3. 3.r
3. 2r
-2.0r
15.9
7.6
4.9
1.2
. 1. 7r
3.2r
8. 9
6.9r
6. 3r
9.6r
5.2r
7.lr
0.8r
1.5r
-4 . 6r
-3.2 r
L Or
-13 . 4p
6.6r
14 . 8.r
10.3r
l3.5p
-4.4r
2.lr
-2 . 4r
·1.4p
7.9r
9.1
11. 7
12 . 9p
- a . il2
-1. 52
9. 52
Percent Change f rom Previ ous Year (5)
-1. 32
8.82
2.0~
-1. 2
0 . 4r
2.1
4.5
Annual
1974
I
·II
III
IV
5. 5r
11.0
-1.2r
5.2r
-1.3r
0.6p
-5 . 8
1.S
-0 . 3r
-12.9p
Annual
0 . 72
.
:
6. 3
4 . 1~
..
I
1973
I
II
III
Rat~
6.1r
6.8r
7.4r
6.3r
5. 2r
3.3r
14.2
12 . 2
10 . 5
7.3
6.4r
5. 5r
5 . 0r
3.8r
8.0r
1.2r
0.5r
-o.4r
Annual
1974
5. 5r
11.0
5. 2r
7.1r
0.8r
1.5r
I
O.Sr
1. 3
O.lr
O:Sp
1.8
0.5
-0 . 8
-4 . 5p
LOr
- 0.8
- LOr
- 5 ; 2p
7.4r
9.3
10.3r
11. 3p
-2.3r
-lo2r
-1.lr
-0 . 7p
6.5
7.9
10.1
10.4p
-0 . 82
-1. 52
9.52
IV
II
I II
IV
Annual
0 . 72
See .footnotea following table 4.
p - preliminary
r - revised
~ . 4r
SOURCE:
8.82
-1. 32
Bureau of Labor Statistics
January 27, 1975
Table 4.
Year and
Quarter
1973
I
II
III
IV
Annual
1974
I
11
III
1973
I
II
III
IV
Annual
1974
I
II
III
1973
I
II
III
IV
Output per
mao-hour
Noniinanciat Corporations: Output per Man-hour, Hourly Co~pensaticn
• Unit Labor C03tS, Unit Profits and Prices, Seasonally Adjusted
Output
Man-hours
COIIIpensakea1
tion per
COIIIpenRamac-hour
tion per
aan-ho:Jr (2)
(1)
Indexes 1967-100
Unit
Labor
Costs
Unit
lion labor
Costs
{8)
Total
Unit
Costs
(9)
Unit
Profits
{10l
Iapl1cit
Price
Deflator
120.7r
120.8r
120.8r
120.3r
130.7
132.3
132.9
133.4 ·
108.3r
109.5r
!lO.Or
110.9r
146.5r
148.7r
151.1r
154.1r
!l3.8r
113.1r
!l2.4r
!l2.0r
121.4
123.1
125.1
128.1
125.7
127.1
128.3
129.9
122.5
124.1
125.9
128.5
91.9
91.3
90.2
89.7
117.8
119.1
120.5
122.6
120.6r
132.3
109.7r
150.1r
112.8r
124.4
127.7
125.2
90.8
120.0
118.Sr
118.5r
117.7r
130.6
130.2
129.5r
134.2
137.9
142.4r
Rate {5)
133.0
136.7
14f}.9r
86.8
90.9
9O.6r
126.0
129.8
133.3
6.9r
0.4r
O.Or
-1.5r
12.5
4.8
2.0
1.5
5.3r
4.3r
2.0r
3.1r
12.1r
6.1r
6.6r
8.2r
5.9r
-2.5r
-2.4r
-1.4r
4.8
5.7
6.6
9.9
-3.2
4.3
3.8
5.2
2.7
5.3
5.9
8.7
3.4
-2.6
-4.5
-2.5
2.8
4.4
4.6
7.4
3.2r
7.8
4.4r
7. I.r
1.1r
4.1
0.7
3.2
4.7
3.4
-5.9r
-o.2r
-2.6r
-8.1
-1.4
-2.1r
-2.4r
-1.2r
0.5r
14.9
11.9
12.5r
Year
13.9
11.4
13.9r
4.6r
3.8r
3.1r
1.4r
Annual
3.2r.
1974
-1.8r
I
II
-1.9
-2.6r
III
r - revised
llO.2r
157.1r
111.2r
132.6
109.9r
161. 5r
l11.lr
136.4
!lO.Or
165.3r
1l0.3r
140.4r
Percent Change from Pr~vious ~arter at Annual
8.1r
-3.0r
11.7r
-0.2r
9.7r
-2.9r
Percent Change from Previous
14.6
-12.3
11.8
20.2
12.9r -LOr
11.4
12.6
11.3
10.0
8.7
7.6
5.1
5.2r
4.7r
4.4r
3.7r
6.5r
1.1r
1.7r
8.2r
2.4r
1.5r
0.8r
-o.2r
1.8
3.2
4.5
6.1
-1.2
-0.5
0.7
2.5
1.0
2.2
3.5
5.6
9.3
7.5
4.3
-1.6
2.0
2.8
3.6
4.8
7.8
4.4r
7.4r
1.1r
4.1
0.1
3.2
4.7
3.4
-0.1
-1.6
-2.6r
1. 7r
0.3r
0.0
7.3r
8.7r
9.4
-2.3r
-1.8r
-1.9r
9.2
10.8
12.3r
6.8
8.5
11.0r
SOURCE:
"""
8.6
-5.6
6.9
10.2
-0.5
9.0
12.0r
O.4r
10.7
Bureau of Labor Statistic.
January 27, 1975
.-.
,
.
FOOTNOTES,
TAllLES 1 TO 4
Sourc.e: Output data from the Bureau of Economic Analysis, U.S.
Department of Comr..ercc and the Federal ReselVC Board. Compen~ation
and Man-hours d~ta from the Bureau of Labor Statistics, U.S. Departm~nt
of Labor and the BurCiiU of Economic Analysis.
(1) Wages and salaries of c:mp]oyees plus employers' contributions for
social insurance and private benefit plans. Except for nonfinanc{al
corporations, where there arc no self-employed. data also includes an
e~timate of wages, salaries ahd supplemental payments for the 5elf-~mploycd.
(2) Compensation per man-hour adjusted for changes in the Consumer
Prire Index.
(3) Nonlabor payments inc lude profHa, depl'eciat lon, interest, 'rent:)l
income and indirect taxes.
(~) Current dollar gru~sproduct divided by constant dollar gross
product.
(5) Percent change cOf!lpounc.!ed at Ilnnual rate from original data rather
than index numbers.
(6) Current
qua~ter
divided by comparable quarter a year ago.
(7) Quarterly lIlaasures adj \JstP.c!to iinnual eIii timates of output (gross
product originacing) from the Bureau of t:conoVlic Analysis, U.S. Department
of COm:llerce.
(8) Unit
taxes.
u~nlabor
costs include depreciation. interest and indirect
(9) Total unit costs
~s
the bum of labor and non-labor costs.
(10) Unit profit. include corporate profits and inventory valuation
adjustment. ,
CHART 1. PRODUCTIVITY. HOURLY
COMPENSATION. UNIT COSTS AND PRICES
TOTAL PRIVATE ECONOMY
(PERCENT CHANGE FROM PRECEDING
QUARTER AT ANNUAL RATE)
I
I
I
:
OUTPUT PER MANHOUR
I
I
I
I
t
I
-------------~-------------.-------------~--------------~-------------~-------------~------------I
•
I
I
'
I
I
I
,
•
I
:
:
I
I
-------------r-------------1-----I
•
:
I
I
:
I
-------*-r----
--~
I
I
I
I
•
I
•
•
:
IV
----------1-------------
'
,
,
l
15
10
5
I
I
I
I
0
I
-5
15
10
••
•
- - -----------~-------------.-----------••
I
I
5
I
I
•
•
14.7
I
I
I
15
••
UNIT LABOR COSTS
0
I
I
I
I
•
,
•
•
I
•
•
I
•
•
I
•
•
I
I
I
•
I
•
I
I
-------------,--------------r-------------r------------- -------------
I
I
-----~-------------t----
:
.
--------------~·-~---------t
*:
•
•
-----------i------------:
•
•
I
I
I
I
I
I
I
I
•
t
•
I
I
•
•
I
I
•
I
I
•
I
•
I
I
•
I
I
UNIT NONLABOR PAYMENTS
I
5
0
••
•
•
10
IV
11 .9
20
_ ____________ ~ _____________ 4 _____________ ~ _____________ ~ _____________ ~ _____________ ~ ____________ _
•
I
I
I
,
I
,
I
I
-------------~-------------~-------------,
I
•
•
I
"
I
•
I
•
I
I
-------------~-------------~----• •
-----~~----I
..
I
I
•
•
I
•
,
I
I
I
I
•
•
I
•
I
I
I
I
I
I
I
-------------~-------------~-------------_r------------ -r-------------1-------------ji------1-q----
:
:
:
:
I MPL! CIT PR I CE DEFLATOR
I
:
I•
I
:
:
:
:
I
•
I•
13.6
I
-------------.-------------;--------------r------------~-------------1------------I
,
I
•
I
I
I
•
I
I
I
I
I
•
•
I
I
,
•
•
1968
*1968-1971 data
,•
1969
1970
1971
based on unrevised man-hours.
10
5
0
-5
15 .
10
5
-------~-------------.
t
-------------,---
15
•
I
1-------••
•
----------~----•••
•
••
••
--------~-------------~------I
I
I
I
,
0
1972
1973
1974
JAN. 27. 1975
CHART
PRODUCTIVITY. HOURLY
UNIT COSTS AND PRICES
PRIVATE NONFARM SECTOR
(PERCENT CHANGE FROM PRECEDING
QUARTER AT· ANNUAL RATE)
2.
COMPENSATION~
1
1
1
1
1
1
1
-
1
1
1
1
1
*'
--------.-----,.••
--.--------.-------------~------
1
1
IV
-~-------------~------------1
1
1
10
1
1
1
1
OUTPUT PER MANHOUR
1
1
1
1
1
-3.7
1
I.
1
1
•
I
I
I
1
1
1
1
I
I
I
-------------t-------------~--------------~-------------.-------------i-------------~1
1
1
1
1
1
•
-
I
I
•
•
I
,
I
10
-----------.-------------~--------------~-------~-----.-------------~I
I
I
I
I
1
1
1
1
1
*:r--- -
1
-------------T-------------,-----------1
1
1
1
1
1
1
1
1
1
1
1
1
1
I
1
1
1
1
------,-------------~------------1
1
1
I
1
1
1
1
1
1
1
•
•
I
I
•
I
•
,
•
•
I
1
I
I
•
•
I
I
I
I
I
I
I
•
I
I
•
I
•
I
I
I
I
I
--------------~-------------r-------------,-----------I
I
I
I
I
I
•
I
I
I
I
I
I
I
I
I
I
I
--
-----t-------------~---1
:
-------------t--·---~-----•
___________
15
1
1
~J_--_----------
1
1
1
IV
9.B
1
1
1
1
UNIT NONLABOR PAYMENTS
1
I
10
1
1
*:
1
I
I
•
I
t
I
I
I
•
I
I
I
I
I
I
•
I
I
•
•
I
I
I
I
- ----------t-------------~------------I .
•
•________ _
_______ -L____
_______ •
-------------f-------------~-------•
I
I
.
_______ •_____________ •
~
~____
•
•
I
I
~_______
•
__~
I
I
I
•
•
t
•
I
I
I
I
I
I
•
I
•
:
:
:
I
•
10
1
1
1
1
1
1
I
•
•
I
•
I
I
I
I
•
I
•
I
I
I
•
I
I
1
1
1
-------------f-------------~--------------~-------------~-------------~-------------~-------------I
I
I
I
•
•
I
I
I
I
•
-------------i---------1
1
1
I
•
I
•
I
I
•
I
I
I
I
I MfL I CIT PR I CE DEFLATOR
---------1-------------+---
I
I
I
1
1
1
•
I
•
I
I
•
I
I
I
•
•I
II
IV
------------- ----
15
10
I
I
.
I
------------T-------------,---.
•
-5
20
12.0
-------------+-------------~--------------~-------------.~------------~------------1
I
•
I
I
"
5
o
1
1
1
o
20
•
1
--~------------1
*:
•
5
15
-------------~-------------,--------------~-------------r-------------,-------------~--•
I
•
20
13.3
-------------~----------.--~--------------~-------------~---------~---~-------------~I
•
I
I
•
"
-------------T-----------
5
o
IV
1
1
UNIT LABOR COSTS
I
o
-5
15
•
COMPENSATION PER MANHOUR
•
•
5
5
1
lII.
t
1968
1969
*1968-1971 data based On
1970
1971
unrevised man-hours.
o
1972
1973
1974
JAN. 27. 1975
CHART 3.
PRODUCTIVITY, HOURLY
COr1PENSAT I ON UNIT COSTS AND PRICES
NONFINANCIAL CORPORATIONS
(PERCENT CHANGE FROM SAME
QURRTER A YEAR RGO)
,
I
,I
I
I
,
J
•
r"
---- . . .-- --i--..
"I
~ ~.
.
I
---------~-----
I
•
I
:
:
:
----------- -f------ -------~-------------:-1
I
,
I
:
I
10
I
:
:
III
--- -------- '--------------:-------------I
I
..
~~.----------~----------~~
!
1
,
1
I
. . --------r---------- .. -r-------------1-------------i----------- --
I
I
,
,
15
I
I
I
OUTPUT PER MANHOUR
•
I
I
I
I
5
-2.6
~~----~----------~----------~~----------~,~----------~
I
I
I
•
I
I
I
~ .- -- -- --- -- ---!t -- ----- _.. _-- -~----_ ..-- ---- -:..----- ---- --- ~-- ------ -- --~----- ---- -- -~----- ------•
•
I
I
,
I
I
I
,
I
I
t
I
I
•
t
I
•
I
I
I
I
I
t
]
1
.
I
C~MPENSAT I O~ PER MANH,OUR
I
I
15
I
I
!
1
I
10
I
~. -------------+-------------~--------------~-------------~-------------~-------------~------------I
I
I
(
I
. I
I
1-
.,
.;'.
I
I
I
t
I
I
I
1
I
I
I
I
I
I
I
I
I
I -,
I
'
I
I
...J
I
:
•
I
I
III
12.3
I
•
:
r
:
----1------------- ' -------------t-------------~---------
t------ ------- 1----
:
:
I
5
I
I
I
l-------------I-----------~!l!-~--~~-~~-~--~~-~~-~-------,-------------1-------------1.-i
I
__ JI ______________
15
10
I
5
________~,J-
I
,
I
I
I
I
I
I
,
I
UNIT NONLABOR PAYMENTS
15
III
7.5
:
,
0
:
,
:
:
:
:
:
:
:
I
t
.1
I
I
I
•
•
•
I
I
I
10
~-------------~-------------~--------------r-------------r-------------~-------------~--------------
I!
t----------.---t---,----------i------------- ;------------- :------- ------i---- ---------~----I
I
•
0
--~
I
I
I
I
-5
I
I
III
9.4
~-------------~-------------~--------------r---------- ---r---- - --------~----- - -------ii------------i
I
I
I t !
i
,
0
5
I
I
,
0
---~,------------~----------~----------~
I
I
I
t
I
I
I
I
I
-5
-------------.--------.
-----~--------------~-------------~-------------~-------------~-------------t
I
I
I
I
I
•
•
I
I
,
I
I
I
I
I
I
:
I
f
I
I
I
.
I
I
IMPLICIT PRICE OEFLATOR
I
I
I
I
•
I
I
I
I
:
:
,
I
III
10.7
I
,
I
-------------+-------------~--------------~-------------~-------------1-------------~------I
•
I
I
I
I
I
I
I
I
,
I
I
•
•
-------------T-------------,---------I
1968
'
1969
•
•
I
I
I
I
I
I
I
I
I
I
1971
I
I
1972
1973
~
]
,
I
------------r-------------,-----------I
1970
•
1974
JAN. 27. 1975
15
10
5
0
CHART 4
UNIT COSTS. UNIT PROFITS. AND PRICES
NONFINANCIAL CORPORATIONS
(PERCENT CHANGE FROM SAME
QUARTER A YERR RGO)
,,
,,
UNIT LABOR COSTS
15
12.3
1
I
•
•
I
J
f
I
I
I
•
•
I
I
I
,
I
I
1
I
I
10
-- --- --~- - ---.-------------~--------------~-------------~-------------~-------------~-I
I
I
I
•
I
t-------------~----
UNIT NONLABOR COSTS
1
1
1
1
1
-----''1',--
1
1
0
15
1
1
1
1
1
1
- ____________ ~
_____________ 4 _____________ ~ __ _ __ _
I
1
,
---------T----
1
1
:
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
------r-------------,-------------
:
-------~-------------_r---1
,
1
1
1
1
1
1
1
1
1
I
1
1
.
10
5
0
15
III
12.0
1
TOTAL UN IT COST:
1
5
1
1
1
1
rI-------------f-------------J
•
1
---~-------------1
1
I
,
1
----1------------ -------------t-------------i---------
1
1
10
-------------.-------------~--------------~-------------~-------------~-----------------t
'
I
I
I
I
I
I
I . ,
t
I
I
t -------------~---•
I
I
I
•
I
I
I
1
1
•
-----1-------------~ ------------t-------------1---------1
I
1
1
1
I
' I
I
1
1
I
I
I
1
I
I
1
1
1
1
1
I
1
1
1
1
1
I
1
1
1
I
1
I
1
1
•
1
1
1
1
1
10
I
I
I
:
•
UN IT
1S
-------------~-------------~-------------I
1
1
1
I
0
20
1
1
1
- ------------.-------------~--------------~--------1
I
1
-------------f----------
5
I II
----i--------------
5
0.4
0
I
,
1
I
I
I
-------------+I
-5
- - -----------~-------------~-------------~I
I
I
I
I
I
•
•I
1•
II
II
•I
I
I
I
_____________ ~________
I
I
I
•
•
•
I
,
'
I
I
I
I
I
I
•
I
1
:
I
I
•
.
•
I
I
I
I
I
J
I
I
I
I
I
I
1
I
I
I
I
1
I
I
I
I
I
I
I
,
I
I
I
I
1
I
III
10.7
j
I
:
•
-15
I
I
I
IMPLICIT PRICE DEFLATOR
I
I
:
I
---- - --------T-------------:--~-~-:-~-~-~---~-~--~~-~-~-~-~-~-~-~-:-----r-------------1------------
I
1968
1969
-10
II
II
II
I
I
I
I
I
I
I
I
t
_ ___•
L _____________
L
_____________
~ _____________ ~ _____________ _
•
I
•
1970
1971
1972
1973
1974
JAN. 27. 1975
-20
10
5
0
-'I:~
....-.;..w·,
.
,\ppendix Table A. Manufacturihg Sector; Output per Man-hour, Hourly
Compensation, Unit· Labor Costs, SeasonallY Adjusted
Year and
Quarter
1965
I
Output per
Man-hour-.
Output (7)
Man-hours*
Indexes 1967 .. 100
Compensation per
Man-hour (1)*
Real Cumpensation
per Man-hour (2)*
Unit Labor
Cost*
103.7
104.7
104.9
105.2
104.7
106 . 4
107.4
10S.3
100.9
101.6
102.4
102.9
104.:\
106.2
107.S·
109.9
102.2
102 . 6
102.9
103.7
100.7
101.4
102.S
104.4
104.7
106.7
102.0
107.1
102.S
102.3
106.6
107.0
107.9
107.2
110.1
111.1
112.5
110.7
103.2
103.S
11)3 . 6
103.2
iU.2
113.2
114.9
116.S
103.7
103.S
104.1
104.3
105.S
106.5
109.0
Annual
1970
107.4
111.3
103.6
1,14.0
103.S
106.2
I
105.6
10S.2
109.3
108.9
107.5
107.4
106.7
102.2
101.S
99.3
97.6
93.9
11S.3
'121.1
124.1
125.3
103.9
104.7
106.1
105.6
112.0
11,1.9
113.6
115.1
107.9
105.9
9S.1
122.1
105.0
113.2
113.4
115.6
115.7
115.7
107.1
109.0
10S.7
109.5
94.4
94.3
93.9
94.6
12S.4
129.S
131.1
132.4
107.4
107.4
107,.4
107.9
113.2
112.3
113.3
114.4
11
III
IV
Annual
1969
I
II
III
IV
II
III
IV
Annual
1971
I
II
III
I·V
J,04~3
..
Annual
1972
I
II
III
IV
115.1
lOS.6
94.3
130.4
107.5
113.2
l1S.4
l20.6
122.9
124.5
113.7
117.9
121.2
125.2
96.0
97.S
9S.7
100.6
135.1
136.6
140.4
109.3
109.6
109.7
110.6
114.1
113.3
112.3
112.S
Annual
121.6
119.5
9S.3
137.5
109.7
113.1
*Based on Revised Employment and Average Weekly Hours
137.~
SOURCE: Bureau of Labor Statistics
January 27, 1975
,...
(
Appendix Table A. (Cont. ) Manufacturing Sector; Output per Man-hour, Hourly
Compensation, Unit Labor Costs, Seasonally Adjusted
Year and
Quarter
Output per
Man-hour *
Outl!ut (7)
Man-hours *
Compensation per
t-1~n-hour (ll*
Real Compensation
I!er Man-hour (2l*
Unit Labor
Cost*
Percent Chanse from Previous Quarter at Annual Rate (5)
1968
I
II
III
IV
8.6
3.8
0.8
1.2
11.0
6.7
3.8
3.4
2.2
2.8
3.0
2.1
10.5
6. 7
6.2
7.9
6.2
1.8
1.1
3.1
1.7
2.8
5.4
6.6
4.7
6.7
2.0
7.1
2.8
2.3
5.4
1.3
3.5
-2.5
6.8
3.7
5.1
-6.2
1.~
4.9
7.3
6.2
7.0
-0.1
2.3
1.6
-3.9
0.2
1.4
-0.5
5.9
2.6
9.7
2.6
4.3
1.7
6.4
1.0
3.8
-6.0
10.1
4.2
-1.5
-11.1
-0.4
-2.6
-15.8
-5.4
-9.5
-6.5
-14.5
5.1
9.8
10.5
3. 7
-1.1
3.1
5.6
-1.8
11.7
-0.3
6.0
5.3
Annual
1971
0.5
-4.9
-5.3
7.1
1.1
6.6
.1
17.9
7.7
0.6
0.1
20.6
7.3
-1.1
3.0
2.3
-0.4
-1.6
2.9
10 . 3
4.5
4.0
4.1
7.0
0.1
0.0
1.7
-6.4
-3.0
3.5
4.0
Annual
1972
I
II
III
IV
6.7
2.6
-3.9
6.8
2.4
0.1
9.6
7.6
7.7
5.3
16.2
15.6
11. 7
13.9
6.1
7.5
3'.7
8.1
8.6
4.4
3 , 9,
7.3
5.1
1.1
0.4
3.6
-0.9
-2.9
-3.5
1.9
Annual
· 5.6
10.0
4.2
5.4
2.1'
-0.1
Annual
1969
I
II
III
IV
Annual
1970
I
II
III
IV
II
III
IV
*Based on Revised Employment and Average Weekly Hours
r
o.!t
SOURCE: Bureau of Labor Statistics
January 27, 1975
-.
Appendix Table A. (Cont.) , Manufacturing Sector; Output per Man-hour, Hourly
Compensati,o n, Unit Labor Costs, Seasonally Adjusted
Year and
Quarter
1968
I
II
III
IV
Annual
1969
I
II
III
IV
Output per
Man-hour *
Out2ut
Compensation per
Man-hours *
Man-hour ~1~ *
Percent Change from Previous Year (5)
0.3
6.7
2.3
7.0
2.7
7.1
2.5
7.8
!n
Real Compensation
2er Man-hour ~2~*
Unit Labor
Cost·
3.0
2.7
2.6
3.0
1.1
1.8
2.4
4.1
5. 5
5.1
4.5
3.6
5.9
7.5
7.4
6.2
4.7
6.7
2.0
7.1
2.8
2.3
2.8
2.2
2.9
1.9
5.2
4.4
4.7
2.2
2.3
2.2
1.8
0.3
6.4
6.6
6.6
6.3
1.5
1.1
0.9
0.5
3.5
4.3
3.6
4.4
Annual
1970
I
II
III
IV
2.6
4.3
1.7
6.4
1.0
3.8
-1.,0
1.1
1.3
1.5
-2.4
-3.3
-5.2
-7.7
-:1.4
-4.4
-6.4
-9.1
6.4
7.0
8.0
7.2
0.2
0.9
2.2
1.4
7.4
5.8
6. 7
5.6
Ann~a1
0.5
-4.9
-5.3
7.1
1.1
6.6
1971
I
II
III
IV
7.4
6.8
5.9
6.3
-0.4
1.5
1.9
7.1
-7.3
-5.0
-3.8
0.8
8.5
7.2
5.6
5.7
3.4
2.6
1.3
2.2
1.0
0.3
-0.3
-0.6
Annual
1972
I
II
III
IV
6.7
2.6
-3.9
6.8
2. 4
0.1
4.4
4.4
6.2
7.5
6.2
8. 2
11.5
14.3
1.7
3. 6
5.0
6.3
5.3
5.3
5.2
6.0
1.7
2.0
2.1
2.5
0.9
0.9
-0.9
-1.4
Annual
5.6
10.0
4.2
5.4
2.1
-0.1
*Based on Revised Employment and Average Weekly Hours
SOURCE: Bureau of Labor Statistics
January 27, 1975
,
.
Appendix Table ~. Nonfinancial · Corporations: Output per Man-hour, Hourly Compensstion
Unit Labor Costs, Unit Profits and Prices, Seasonally Adjusted
Output
CompensaReal
tion per
CompensaMan-hours *
Man-hour*
tion per
(1)
Man-hour*(2)
Indexes 1967- 100
UnitLabor
Costs
Unit
Non1abor
Costs
(8)
Total
Unit
Costs
(9)
102.9
104.2
104.7
105.1
10) . 7
105.9
107.)
108. 5
100.8
101 . 6
102.5
10).1
104.5
106.)
107.9
109.9
102 . 1
102.7
103.0
103.7
,101.5
102.0
10). 1
104.5
10).0
10).4
104 . 1
W5.4
99 . 5
101.9
102.) 101.9
10).4 100.4
104 . 7 97.)
101.5
102.)
102.9
103.6
Annual
1969
I
II
III
IV
104.3
106.4
102 . 0
107.2
102 . 8
102.8
10).9
103.0
99.7
102 . 5
105.7
106.)
106.)
106.0
109.8
111.4 '
112.1
111.5
10).9
104.8
105.4
105 . 2
111.7
11).7
115.4
117.6
104.1
104 . Z
104.3
i04 . 8
105.8 106.7
107.0 108. 6
108.6 110.9
111.0 11).7
106.0
107.4
109.1
111.7
93.)
90.9
85.8
77.7
104.1
104.9
105.6
106.5
Annual
1970
I
II
III
IV
106 . 0
111.2
104.9
114 . 6
104.4
108. 1
109 . 8
108.5
86.9
105.3
105.2
106.5
108.4
107 . 5
110.0
109.8
110.8
107 . 7
104.6
10).2
102.3
100.2
119.1
121.6
124.5
125.9
104.6
105 . 0
106.4
106.2
U).2
114.2
114.9
117.1
117.8
121. 3
123.5
128. 7
114.4
115 . 9
117.0
119 . 9
72.7
72.9
72.8
67.2
' 108.1
109.4
110.)
112 . 0
Annual
1971
I
II
III
IV
106 . 9
109 . 6
102.5
122. 8
105.5
114.9
122.9
116 : 8
71. )
110.0
110.3
111.4
112.7
11).6
111.2
112.5
11).4
115.5
100.8
101.0
100 . 6
101. 7
128.6
130.6
132.7
13).9
107.6
108.2
108.7
109 . 1
116.6
117.)
117 . 8
117.9
127.6
127 . 8
128.7
129.2
119.)
119.9
120.4
120.7
76.8
79.5
80,.5
79.7
112.9
113.8
114.4
114.5
Annual
1972
I
II
III
IV
112.0
113.1
101.0
131.5
108. 3
117.4
128.6
120.1
79.1
113.9
115.3
116.4
117.1
118.7
118.8
121. 7
123.5
126.9
103.0
104.6
105 . 4
'107.0
137.5
138.8
140.3
142.4
111.1
111.4
111.5
112 . 2
119 : 2 127.2
119.3 127.7
119.7 127.3
120.0 126.8
121. 2
121.4
121.6
121.6
84.0
84.9
86.6
91.1
115.6
115.9
116.3
117.0
Annual
116.9
105.0
122.8
139.7
*Based on Revised Employment and Average Weekly Hours.
111.5
119.6 ·126.9
Year and
Quarter
9utput per
Man-hour*
1968
I
II
III
IV
Unit
Profits
(10)
Implicit
Price
Deflator
116.1
121.4
86.7
SOURCE: Bureau of Labor Statistics
January 27, 1975
,...,'
•
Al'pendl:!t Table 8 (Cont.) Nonfi nancial Corpo ra t ions: Output per
Unit Lab'lr (;08 tli, Unit Profits and Pri ces, Seasonally
CO"lDpensa-
Year and
QuArcer
Output per
Han-hour*
Ouc:put
.
tl. U,-"
Man-"'~cuTst.
per
,tan- hour*
(1)
ite1ll
(Ampens ..··
l ion Fcr
Unit
L.;bor
Costs
~n-hour*(2)
!:~rcf!Dt Chang '~ Fom Pr~~. ~~ ..At
1968
1.
9.3
8.5
5.5
4.4
1.4
3.2
3.1
2.6
10.0
1.0
6.3
7. 6
5.6
2.1
1.2
2.8
4.4
4.3
6 .4
2.0
7.2
1.9
2.5
-0.1
-1.£
5.1
5.8
2.5
-2.0
3.1
3.2
2.6
-0.8
1.7
4.f-
"2.9
4.9
7.4
-3.1
AnnuaJ.
1971
I
HOllrly Ccmpensation
Adjual~J
:Jnil:
Non!abor
Cos ts
( 8)
Annual Rate
1.8
5.1
1.8
1.7
Total
Unit
Cos til
(9)
Jmplicit
Unit
ProfU.
Price
Deflator
(10)
ill
'-, .7
3.7
1.4
1..9
4.9
1.7
4.0
5.5
0.7
9.8
-5.8
-11.6
2.2
2.9
2.5
2.8
1.8
2.• 8
3.9
3.0
-0.3
· 2.5
6.8
7.3
6.0
7.8
1.7
0.4
0.2
2.0
4.7
4.7
6.1
9. 1
5.2
7.4
8.5
10.6
4.8
5.3
6.7
9.5
-15.5
-10.0
-20.6
-.32.8
1.8
3.2
2.8
3.5
2.8
7 .0
1.5
5.2
5.8
5.3
-l2.e
2.7
-5.1
-0.7
3.6
-10.6
-2.3
-5 . 4
-3.5
-7.8
5.3
8.4
10.2
' 4.5
-0.9
1.8
5.4
-0 . 9
8.4
3.4
2.6
7. 8
15.0
12.6
7.3
18.0
10.0
5.6
3.8
10.4
-23 . 2
0.1
-0.5
-27.5
5.9
5. 1
3.4
6 •.0
0.8
-1..4
-2.2
7.1
1.1
6.3
11.9
7.7
-17.9
4.5
10 .9
3 ••
4.7
3.1
1).6
4.6
3.2
7.5
2.5
0 .8
-1.4
4.1
9.0
6.4
6. 3
3.9
5.5
2.2
1.9
1.6
-1. 7
2.5
1.5
0.6
-3.3
0.5
3.0
1.4
-2 . 1
2.0
1.9
0.8
71.0
14.8
5.1
-3.8
3.3
3.2
2. 2
0.3
ADn.aa1
1972
4. 8
3.2
-1.5
7.1
2.7
2.2
4.6
2.8
11.0
3.6
I
11
III
12.1
10.2
6.0
11.5
5.5
6.. 2
3.3
5.9
11.1
3.9
4.1
6.2
7.5
0.8
0. 5
2.5
4.5
0.2
1.5
0.8
-5.9
1.5
-1.1
-1.8
1.7
0.5
0. 8
IV
6.3
3. 7
2.6
5.3
o.i
23.6
4.3
7.9
22 . 9
3.9
0.9
1.6
. 2 • .>
Annual
4.4
a.s
4.0
6. 3
2.9
1.9
-1.4
1.0
9.6
1.9
11
III
IV
Annual
1969
I
II
III
IV
Annual
1910
I
11
III
IV
II
III
IV
\....
~1ao-hour.
I
*Based on Revbe'l
Eap1o~nt
"
and Average Weekly Hours .
2.0
1.<1
2.1.
I
souaCE: Bureau of Labor Statistic!;
January 27, 1975
Appen(ii1t Tahle S. (COllt,, ) N~nfinan~1.1 Corporations: Output per Man-hour, Hourly COlIPcu!I/ltion
Uni ~ Lltbor Costs. Unit l'ruUU and Pricea, Seaaonally Adjusted
~
Year and
'1'..arter
Output per
Man-hour*
Output
Ma",- hours*
Compensation per
Moln-hour*
(1)
Real
C<ilr.pcuation per
Han-hour·(2)
Unh
LaDor
CorU
Unit
lion labor
Costa
(8)
Total
Unit
Coata
(9)
Unit
ProUU
(10)
IlIIpUc1r
Price
l>eflat'lr
Percent Chanse PrJ: Pr..io~ Year
1968
I
II
III
IV
4.4
4.4
4.3
4.1
4.9
6.6
7.0
6.9
0.5
2.1
2.6
2.7
6.9
7.0
7.2
7.7
].1
2.8
2.7
2.9
2.4
2.5
2.8
3.5
5.7
4.0
1.1
3.2
].2
2.9
2.9
1.4
-1.4
1.3
-2.0
2.5
2.6
2. 6
2.6
Annual
1969
4.]
6.4
2.0
7.2
2.8
2.8
3.9
3.0
-0.3
2.5
I
2.6
2.0
3.1
3.1
2.9
2.0
6.9
7.0
6.9
7.0
1.9
1.5
1.3
1.1
4.2
4.9
5.l
6.2
3.6
5.1
6.5
4.0
4.9
0.8
5.9
5.2
4.4
2.8
7.~
6.6
-6.2
-10.8
-14.5
-20.1
2.5
2.6
2.6
2.8
1.7
4.6
2.8
7.0
1.5
5.2
5.8
5.3
-12.8
2.1
-0.4
0.1
2.0
1.5
0.2
-1.4
-1.1
-3.4
0.7
-1.5
-3.0
-4.8
6.6
6.9
7.9
7.1
0.4
0.'
2.0
1.3
1.1
6.7
5.'
5.5
10.3
11.6
11.3
13.2
7.9
8.0
1.2
7.4
-19.'
-!S.2
-22.1
-13.6
3.8
4.]
4.5
5.1
Annual
1971
I
II
III
IV
0.8
-1.4
-2.2
7.1
1.1
6.]
11.9
7.7
-11.9
4.5
4.9
4.6
4.0
5.6
1.1
2.4
7.2
-3.6
-2.1
-1.6
1.5
8.0
7.5
6.5
6.4
2.9
].0
2.2
2.8
2.9
2.1
2.5 ,
0.7
'.4
5.]
4.2
0.4
4.3
].4
2.9
0.6
5.6
9.1
10.6
18.7
4.4
4.0
3.7
2.3
Amlual
1912
I
II
III
IV
4.8
].2
-1.5
7.1
2.7
2.2
4.6
2.'
11.0
3.6
4.5
4.5
4.0
4.5
6.8
8.2
9.0
9.9
2.2
3.6
4.8
5.2
6.9
6.3
5.7
6.]
3.J
2.9
2.5
2.8
2.3
1.7
1.7
1.7
-0.3
0.0
-1.1
-1.'
1.6
1.2
1.0
0.8
9.4 "
6 ••
7.5
14.'
I.,
'
1.7
ADDwI1
4.4
8.5
4.0
6.]
2.9
1.9
-1.4
1.0
9.6
1.9
II
III
IV
1.5
Annual
1970
I
II
III
IV
I
~
.Baaed
00
2.]
Revised
~lcyaent
r
and Average Weekly Hours.
~ .6
1.]
2.4
2.2
SmIC!: Bureau of Labor 'taliatica
January 27, 1975
@FedFRASER