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"EWS
•
v u.
~
S. DEPARTMENT OF LABOR
miCE Of IlfOiUTiOI . IISllmOi . O. C. 21211
~SIlL-1J - 331
lu . .... of Labor St.tl.,lco
For hi .... : 11:00 A. ~ . (E .ll. " . )
friday . July 21 , un
11.K. U .."h r, (102) 961 - lS95
K. D. lIoyl. (202) 961-2913
HOlM : (202) 331-il84
•
ProductlvltJ and Coo •• In tho "Ivu. k _ . s.c""~ QIlartor 1913
(and ~,. !o. Noofloanel.l Corporation., fl •• , Qu.r.~r 1913)
Su.I"I ••.
2.9 ~rc.nt.
tn tho prlv ••• OCOR"'"Y. ""'put por un-hut toll 0.2 perc.n. (0' 0
In tho ,,<><lr ..... ucur, d ...... pn • ..-" pnvoUod.
oH,htly - - 0.1 puce". -- •• O<,IU'"
In . . nufacturl", .
ubi .. I , 2 , and 1 .
Produc.hlty dodlnd
her .....d 1. . . rapidly thaD _n-ho .....
In 1;00"• . 0 ,
"cent cho"," in prGduct!vlty, hourly «'lIpoouHon , oDd unit bbor
tobia A.
Pe ..ane ChMllc n Annu al .... t . .
(S.,... "",.Uy AdJ..-'d)
to
lnd QuartH 1913
~tP"t
p*'
aan-bou'
per aan-bou'
Unit labor coHa
ao.1 coap.on •• ttcn p.o . . ."-ho,,.
Co.~ns."cn
to
2nd Qtlutu 197]
-0 . Z
U
U
-t.S
Private No"h ...
Output \>0' .... ,,-bou.
Compenut1on ~ . . .,,-hou.
lint< labor cost.
J«,al e""'pe~ .. tlon per "',,-"ou,
Output po. "'n-"ou.
Cospe".atto~
p.o . . .o-~u.
lInlt labor .00 . .
ltaal '''''P anuti on pot . .,,-hour
,,.,.
-0. 1
-1.0
.....,,..
-0.4
co.porau, and . . nub.tu.I", seeton for the p."O<! 1910 th.oush the fir .. quuu,
1911 and ...... llar
'.'0
ln 1972 tha" had bacn p.evlou.ly raportlOd.
du.o pdmully to chan,. . 10 G. o. . Natlonal Product don.
Thuo .hMl," au
S. . .p~ndl. tablu S-7.
The
to
~ O.2
~roductivU7
decl1ne in tM private eC<>TI""'Y !r"'" 4.1 pHc,nt in the flut quane<
pa . cent in the •• cand qua.te. r eflee ted a .harp reduction In the ra'O of growth
In output
_~
of 1913.
The I . . t
2.7 parcont ohh quarter n
t~ .. e product1vl~y
<"'"pared with 9.3 .,.rcent In the fi<lt quarter
declined for the private oco"""-Y
If...
in tho fourth
qu.ortu of 1970 . . . a ruult of the .uto .trike .
In .anuf.ct"r! .... the rUe 10 prodllCtivity renect..! an 8.2 percent gain In output
."d a 3. 4 p •• ce~t gain in .an-hou" .
• ubotantlal. the gain va •• ~at
Although the output Inc r .a.e In aanufecturlng v ••
~ller
than that -mlch occurred In the flrot quattet.
Du<lnl the qu.o.ur, hourly c"",pen. . tl.,,, In the priva. . eco""",y Increased by 1 .2
percent. dovn £tOIl the 9.S .,.rcent rloe in the fint quarter.
"ona - tI~"
Incr . . . . reflected the e xpected
The latge flnt-quata.
effect of lncruud ... ploy. . contribution.
to tM Soda! Security ptogr . . , -mlch beca_ effective In Ja"""ry.
contribution. are .uppleaent. to
~ ai~'
and
a~l •• le.
The. . . . . ployer
and a r a included In o=ploy ••
co .. panUtloo,
In the nonfarm •• ctor, the
d.c.l~~a'ion
in lrowth of hourly
c~?eno.tlon
....1<&.4. olO'-'ln, to S.6 percent hOll 10.1 percent in tho flnt q ...... e •.
the .I.,..d"""
v ...
10 .. pronounced .... Ith an 8.S
In the fint qu..arter.
~~cent
w.a alo"
In ... nufactudnx.
,aln foll""lng • 10.8 pucent rise
.,.
bal hcurly <_0""tl0n -- h"".ly <_,n... t""
Prlc" Index -- In
t~.
o.d.just~d
prlvat ••• cooay ond tho nonren. ond
In the uwnd quart . . hoca .... hourly ''''"I'0n... lon
In ,ho eonou=er Price i"du .
G~.rt.r
~nuf.ctur[n • • ",c"
,aI" .... n
nc . .dod
~y
declined
the tnern ••
Tho doclln ..... 1.1 puc.". [n thO prLut. 0,0"""'1.
3.0 POYeOM In tho ,,<>nf'na "'ctOT , and 0,1, pucon< In
.pendlng
fOT chon. . . t .. ,ho C""._r
".""fact"rl",_
of • yo.r 0,0 , th • •,In In ••• 1 h""rly
In ..... prlvat. o.onOOl)'. 1.9 portent \" .b<o
c~p.n •• tlcn
"""f .....Hor.
Qver tho oorro-
.... 1.7 poreen.
and 2.0 PUton< In .... ~u
ro«u,i"I ,
Since ho"ely ,,,,"pnu tlon ro ..
.mil.
dudng thO quarter 1. Oil ,hTU . . ctoro.
productivity
d~cli" . d.
"nH hboT co. . . co..
In .h. prlvau oconOlllY •• he Incr ...... ..
7.4 percent and. in tho nonf .... uetcr, .1>0 Inc ...... " . . l.9 ""toon<.
..e.c " , <he ....~I' lobo. cou
~U.«.< .
~"It
I~cn ......
In bc.h or .hue
"'Or. lor,•• tM. qu.artu thon In .... pr."lo,..
l.bo. co.t Increaoea In lU"ufa<:,u.ln, .l""ed ,hi . q ..... n .... hlng 3.8
porc.". in con.un to 6.5
pero~ot
In tho flrlt q ..... t...
Unit non·t.ber p.)'lIIeRto In
thO prlv.to 0'0"0011 (""'lOb Incl ... d. caplt .. l ce".""'ptlon .. Ilo" .. nc ... net Int ......
jndiuc. bu.ln . . . . . . . . . . ."d proHu) Inc ..... d at .on .onn ... al ute of 5.9 porcent . abo ... t
tho . _ . r .... •• In
t'"
nu. quarte •.
Pudng the . . tend ~""rt . . , p.ie............e.! by ,Ile I"pllcl' price
d.n... or
( ..Meh rdl.cto Ch"",. . In unit labor ."",., "nl. preU, • • and ethe. I>On·hbo. co.. o)
re .. 70 percent In 'he prlv .. te ""oo_y end
""'at
I"«uoe. "oro oo. .
~.l
percent in .Il. nooh ... "«0•.
l or,. . than tho ' . . . blch occurred In ,n. flU. quorto ••
The . .
!>"«en,. coapared "I'h an Inuca.e of Ie .. Lho" 2
1"''''<'''
I" ,I", f""
q~'''te' .
li.>.n-hou, a,afiRe. ,
Prevlou. Quart"' a' ,,"nu"1 Ru es
(Su'onally Adjun"d)
hbIQ~.
Pe«~",
Ch.n~Q
f,,,,,
... "
..", ,..
...
" ,.,
1911
1911
..,
HlnlfiR
Con."u",i o "
li.>.nuf.'eturlng
T,an.port4"o" . eo ....mic.'loo
."d Publl,' Utilltiu
Trade
fina"<~ , Inauranee • • nJ
Real [M.'e
Se'vlas
ULloa
- 1. J
U
,..
, .0
0
•
'.0
15 .4
..,
..,
.. ,
II Private """ra ... Indude. all i"<·r ~oo. cnR.Il~d In
product I"" . Other ,,,d."try <.tuorle • • ". ['aid
C~ I,loY""~ only . e x c~p' fur 'he " o,,,c," cot,' ~u,y
" hkh i""l..d •• Ilove,,...,,,' ",\lcrprl,.,. p,ly .• ,"
h"".~hold_"
p r op r letou , ~"d unp.,ld 1''''ly "u,k.·".
t h hrio" <ovi.ion. in 'he GNP figu<es
output " u
v Or~
in ,h ...... nufacturinK
revhed upward by 1.3 and 1..\ peroent in 191i and 1912
~~c«>< "',~<e
ce.~cctivol)·,
Other
•• cto<O were revised dcwnvud In 1972 .0 'hat the net ~ff~~t "s' '0 Increu • • ~3~ured
ou'put per .an-hour in 1971 and roduo. It In 1972 .
cn-ng.. In otl>er uri .. .
(5 . .
~ppend! .
,ablQ 1.)
Table l.
'0'
fu r
Q.oa n ,ar
TOtal Pdvate Econo.y ' 0
COSt, .nd Pric.... Sea.
'. per l'IIIn-lIour, Hc>ur\y Co.pensation.
.y Adjusted. (lnduu 1967 - ">0)
c..p.....tlon ~r
. . n-h ur 11
~,'
Ou tp ut pe r
...,-hour
Output
110.7
112.5
113. )
114.8
114.)
117.4
119.1
12 1. 5
103.5
104.4
105.1
105.9
139.4
141 . ~
143. I
145.7
112.7
11).4
113.8
114.8
112 .8
118 .1
104.7
142.4
115.9
115. 91'
124.2
U5.1p
107.1
107.91'
149 . 0
1)1.61'
Han-hours
eo-c>e n •• tlon per
...,-hour
1972
",
'0'
),'
."
M llu .. l "ve.
1913
,.,
)"
..,
..
..•••
Pa r etllt Change Over Prev l o". Quarter
""' ro
."
Ann". 1 Av• .
19 73
,,,
'0'
1912
."
'0'
,,'
".
."
1973
'0'
... ,
..,.,,
,.,
-0.21'
1. 71'
2.91'
7 . 21'
'.0
•••
,.,
..•••,
U
,. ,
'"
,.,
10.4
,
..,
",
'"
.. ,
..,
3.01'
footnot .. at end of table
l' - praHaln.ry
'"
..,.,
,.,
,.,
,.. ,
•••
,.,
,
,
1912
,.
6.51'
,
U
'"
",
..
"
'"..
,,.,
'"
).4 p
,. ,
'"
..,
,.,
..,
7.2 P
Un l t labor
coat
"
Unit non-
labor p.y"ntl 11
h",Udt
prtee
deflator
125.9
125 . 7
126.3
126.9
112.6
lU.1
115.4
117.0
120.7
121. 2
122 .0
123 .1
11) . 7
126 . 2
114.8
121. 8
115 .8
ll5.)p
128. 5
1)0.91'
118.9
120.81'
124.8
126.91'
'-'
,0.'..
""lIud Rat. ~/
..,
,
,'"
....
,.,
,.,
-}'5p
Perc.nt Ch an a" ~" Pra vloua Year )f
L.
"""
,.,
,.,. ,,
,.,
,
..
1. 71'
-0.5
,.,
'"
,. ,
,. ,
..•••,
.. ,
L'
'-'
,.,
L'
",
7.41'
•••
6.41'
'-'
..,..,
,..
,.,
,.,
,.,
,. ,
,
.
,'"
U
4.1 P
U
'"
U
,..
).9 I'
y
,
I
7.0 P
.. I
4.7 P
MOTE' nata have bun revised to r.U .et nev b,nchBarks .
R,viat"". of ea rH e r data a r . shown on Appand lz
Tabl, 5.
I
I
•
1
Private Nonia ... Sector: Ou
per MIlo-hour, Iiourly Compenoation, Unit
Coot , and P,rlce., Season&l1y .o.djuoted, (J!'>de><el 1967 - 1(0)
Output per
"""n_hour
Output
He.n_hour .
COfIIpe" .. _
tion I'f!r
"",n_hour II
Rul
co .. pen ... _
Cion per
IIIlI.n_hour y
Unit hh<>r
con
Unit nonhh<>r pay....nta 31
Implicit
price
deflator
1972
112.9
114.2
114.9
117.9
119 ·. 9
122,3
Annual Ave.
112.1
118.7
1973
1st ...
2nd •.
115.6
115.51'
I s t .. .
109.8
2"d •.
l rd •.
hh . ..
IlL3
,..
1972
Is~ .. .
2nd .. .
3rd .. .
~Ch ..
,.,
..,
1 1. 0
.
Annual Ave.y
1973
l ot. ..
,.,
2nd ...
-0.31'
L>
'"'
'"'
9.2
4.0
137.6
111.4
111. 9
112.7
113.6
112.4
139.5
141.8
144.2
140.9
,.,
..,
'"'
,
.. ,
..
10 . 7
'·"'~",o:,,~'i·~'~'"'iL:o,~'i··~'~'"iL
ChilI'S" Over Pr"viouo Ye .. r 11
~ercent
,. ,
,.,
,.,
'"'
,.,
ht h ...
i 973
'"'
3.71'
See footn<>tes at end of tllble
P .. preli",inllry
,.,
,.,
,.,
1972
i st ...
2nd ..
~rd .•.
h t .. .
2nd .. .
104.6
105.9
106 . 2
107.1
106 . 0
7.1 p
~.
u
,.,
,.,
,. ,
,.
3.31'
'"'
•••
•••
'"'
..,.,,
,.,
,. ,
'"'
7 . 41'
112.5
113.5
114 . 5
115 . 8
120.6
120.8
121. 4
122 • 3
125.7
114.0
121.3
127 . 9
129 . 81'
116.4
117 . 7?
123 . 6
125.21'
'"'
..,
-0.4
-0 . 5
,.,
'"'
,.,
5.91'
,.,. ,,
,,.,
..
,.,
125.5
125. J
125.6
126.2
..,
3.61'
,,...,
...
'"'
'"'
4.
)1'
...
L'
,.,
'"'
'-'
,.,
5.31'
'"'
3.61'
NOTE: O"t" have been revised to reflect new l:>ench ... rks.
Revisions of ,,"rlter daC" "re oho .. n on Appe tldiX
Ta bie 5.
~I
Tabl" 3.
Year "r>d
Quart..
Manufacturing Sector: O.
< per M<on_Hour, Hourly Co.pe" • .,<loo,
IInlt Labor COHa, Seasonally Adjusted, (lr>du ... 1967 .. 100)
Output per
_n-bour
Outpo,at
!'
KAn_houu
COOIp4On • .,tLon
_n_hour
~<
"
,
..
.'
Re.,1 Compen •• tlan
per _n-hour
IInit Labor
co.ts
1972
ht ..
2r>d ...
lrd ...
loth ...
119.3
121.3
122.1
123.1
11).1
111.1
119.8
123.2
95.3
97.0
91.6
99.6
136.4
118. 1
139.6
14 L. 9
1l0.1
110.1
1l0.9
111.8
An"ua I Ave.
121.8
118.6
97.4
139.0
110.9
ll4.1
19 i1
11 t ...
2nd ...
124.9
126.3"
126. J
128.8"
101. 1
102.1lp
145.6
148.6"
113. L
113.0"
116. S
117.61'
Percent Change 0",,, !>revlous Quarter
..
1972
,
lot ..
10. S
..
lrd ...
4th •..
Annu.1 Ave.
1971
I ll.
2nd ..
1972
lit ..
2nd •..
Jrd •..
4th ...
1973
lit. ..
'M.
11.8
'-'
•••
,..
..,
10. 5
..,
..
...
footnotes
preU.l nary
"
....,
,
U
•••
•••
,
4.61'
,.
IS.O
14.8
'-'
8.21'
,..
'-'
l. lop
11.1
••••••
12.2
U
4. II'
11. 1
9.41'
'-'
•••
.. nd of table"
.. ,
.. ,
0.0
'-'
'-'
S. II'
"'-'
0.'
'-'
'-'
6.'
10.8
8.51'
..,
0.'
-1.9
-0.'
'-'
0.'
..,
-0. lop
1.81'
'-'
'-'
'-'
'-'
'-'
l'
..,
..,
,..
.. ,
•••
1.61'
NOTE:
Annual Rata
'-'
6 .•
Pu cent Change Over Previoul Year
,
..,
,..
.. ,
"'
U4.4
Ul.8
113.8
114 .7
'-'
2. 0 1'
U
0.'
0 .•
..
,
3. Jp
"-
Data h.,ve boeen revl.ed to .eflect
be ne'-rka. Revilloni of e.dler d.ta ne
.hown on Apper>dh: T.,b l , S.
Table
~.
Nonr t na n<: lal Cor po ration. : Out put per Han .hour , Hourly eo.~nutlon,
Unit Loo bo r Coats , Una Proflta and Prlc .. , Seuona l l y Adjulled
(lnde ",, ' 1967 •
Output
Yurand
qWlrter
,0<
Output
Han_hours
. .n-hour
19n
ht •..
2nd ...
3rd ...
4th ...
"'nn"a1 "'ve.
197J
IBl.
In ...
2nd ...
lrd ...
~ th .. _
Annum \
IH ...
112.2
112.)
113.1
113.3
112.8
11 9. 1
U9.1>
120.2
120.7
119.9
121 .4
129.0
106.2
148 . 2
113. I
122 • 0
,..
U
.....,
LO . 4
,.,
'. 8
1 \. 6
'.0
Percent Change Over Prevlouo Quarter
'.0
8.'
,.,
'"'
,.,
2nd . .
lrd ...
U
4 th .. ,
l.l
8.'
U
8. '
L.
See footnote_
"t
end o( t a b l e
,.
'-,
'-'
U
..,
'"'
'-'
Y"~r
,.' . 8,
). <
, .<
...
,, •
111:'.2
111.1
116.0
125.9
il3.0
91.4
118.2
...
L>
U
II~.I>
15 . 6
-2 . 0
12 . 0
20.4
>.8
'-'
-2 . 0
'-'
I J .6
'.8
-0.6
L8
,.,
2
,. <
0.'
'.0
-0.9
- 0.6
L>
- 0. )
p.&II .. I"a.y
• revised
1l~.1
..
...
- ~.
-0.4
l'
'"
83.0
82.1>
84.9
89.0
84.8
O. ,
U
I .. pl ic1 t
price
de£1"to,
120.8
121.3
121.8
122 . 1
121 . 6
·2 . 4
l.'
Unn
profits
121>.3
121.3
126. 3
U6.6
126.7
...,., "
....,
..,
U
Over Previous
•• •
..,
•••
1973
!at. ..
C h ~ n se
.'
Tot a l
"nit
coat
.!.QL
.n""at Ra te
..,
,.,
' .8
I LL
H
LO
'-'
'-'
,.,
Percent
,.,
It. 5
U
'.0
Unit
non_l abor
coota
"
138.8
140.2
142. 3
144.0
141. 1
..,
1 972
ht ..
Unit
iabor
coat
10 I • I>
103.1
103. 3
103.2
103.4
,.,
1 97J
cOOlpe n.a_
tion per
. . n_hour
118.3
UO.9
122.4
123.5
121.9
' .0
"'vc.§.!
"
....
116.6
1J7. 3
118.3
119.3
117.9
..,
L>
,..
,.,
1972
Co",pen .. _
tion per
_n·hour
",,,
,
'.0
L<
<• <
..,
'.0
...
'-'
'.0
I I •2
L8
10. 2
.....
,
U
3 . 2.
U
...
'"0
'"<
U
FOOTNOTES, TABLES I TO 4
Source: Output data form the Bure au of Economic Analysis,
U.S. Department of Co_rce snd the Fede~al Reserve Board. Co"pens a tion
and Man_hours data from the Bureau of Labor Statistics, U. S. Department
of Labor and the Bureau of Economic Analysis.
!I Wages and $a l a~ies of e"ployees plus employers' contributions fo~
social insu~ance and private benefit pla"s. Except for nonfinanCial
corporations, where there are no self_employed, data also includes an estimate of wages, .alaries and sup plemental payments for the self-employed .
~I
Compensation per man.hour adjusted for changes in the Consumer
Pdce Index.
11 Nonlabor psyments include profits, depreciation, interest, rental
income and indirect taxes .
4/
Current dollar gross product diVided by constant dollar gross
product
}.I Percent change compounded at annual rate (rOlll origtnal data
than index numbers.
61
Percentage change of annual average.
71
Current quarter divided by comparable quarter a year ago.
rathe~
~I
Quarterly measureS adjusted to annual estimates of output (gross
product originating) from the Bureau of Economic Analysis, U.S . Department
of Co""",,,rce.
91
taxes.
to/
Unit nonlabor costs include depreCiation, interest and indt,ect
Total unit costs 1s the sum of labor and non· labor costs.
III Unit profits include corporate profits and inventory valuation
adjustment.
Appendix Table 5 .
llevh ed Index .. af Output pu !".an-Haur, Hourly Comp~nut1on
snd !kItt Lsbor Costa , 1970-71 ( I ndexes 196 7-100)
Sea.onally Adjusted
..,
Yen
Quuter
,,,
,.,
'"
'"
Output
,«
man-hour
Output
Compen.s tion per
"'hours
m-
...,
Compen.stion
per man hour 11
1I0!!r
Totd Private
-"-
Uni t
labor
" "'"
1t11pUett
Unit
non- labor
price
pay ..ents 11 Definor
"
1970
Annud Ave .
,,,
'"'
,,'
,,'
101. 8
102.9
104.5
104 . 4
103.4
106.9
107 • I
t07.9
106.7
107. 2
105 . 0
104 .1
103. 3
102 . I
103 . 6
11.0.1
122 .4
125.0
126 . 5
121.5
106.6
107 . 2
108 . 5
109 . 3
107.'1
109.2
LlO . I
II 1. I
II 3. I
110.'1
102 • 5
102 . 7
102.4
101.5
102.S
101. S
102 • 5
104.4
104.0
103. I
107. I
107.2
108.3
106. ]
107.3
10S . 5
104 . 5
101.7
102 .6
104 . 1
119 . 6
121. 9
124 . 5
126.0
\23.0
106.0
106 . 9
108 . 0
109 . 0
107. 5
109 . 2
110 . 2
Ill. 2
1l3. 1
lILO
103.0
103.0
102.9
t03 . 9
103 .2
12S.3
130. 8
13209
134.5
I 31 • 6
IIS.0
119.0
119 . 6
121. 2
11'1. 4
104.4
105.7
107 • 3
10'1 . 2
106.6
Lll. 7
ilLS
tll.9
tl5.6
11 3.5
120 . 9
123 . I
123 .6
1220 5
ilL I
111.5
114.3
114. 1
Ill.5
116 . 9
118.2
119. I
119.3
118 . 4
104 . 9
105.4
106.4
106.3
105.7
111 . 8
liS. ,.
119. J
121. 2
119 . 3
103.5
105.2
107. 1
109 .4
106 . 3
1 tL • 5
ILLS
Ill.S
llS. ,.
113.5
107.4
108.2
108 . 9
109.6
IOS . 5
121 . 0
122.3
123.0
123.4
12205
112 . 3
113 . 6
114 . 6
1l4. I
II 3.6
117 • I
118.4
119.3
119 . 1
118 . 5
n.a.
n.A.
n .a .
n .•.
105 • 5
105.S
106.S
106.7
106 . 2
1971
Annud Ave.
.--
12S.9
107.8
1 31. 2
108 . 6
lB.6
109 . 5
13S. I
lIO.1
Il2 . 2
10'1 . 0
Private Nonlano
122 . 3
1910
'"
Annual Ave.
1971
",
'"'
,,'
'"
Annual Ave .
ManufActu rin g '§.!
1970
,.,
'"
,,'
'"
,,,
,.,
'"
'"
105.7
10S .2
109 . 4
108 . 9
108.0
IOi.5
101.4
106 . 7
102 . 2
105. 9
tOl . 7
99.2
97.5
93.9
. 9S. I
118 . 4
I 2 I. I
124 .3
125 • 3
122 . 2
104 . 0
104 . 7
106.2
l05.6
105 . 1
112 . 0
111.9
II 3. 6
In . I
111 . 2
n ••.
107.4
109.3
109.0
109. S
108.9
94 . S
94 .3
93.6
94 .4
94 . 2
128.3
130.0
I 31 • 7
107.4
107.6
10S .0
10S.3
107. S
11208
11201
11 3. I
114 .2
11 3. I
n.A.
n.A.
n •• .
n.S.
n. a .
Annual Ave.
111.7
115.9
I 16.4
116.4
115.6
n.• .
n.• .
"
at end
table 4.
n .a.
Annual Ave.
n . &.
n . &.
n .a .
n . A.
n .• .
1971
ootno t u
,
0<
132.q
130 . 7
•
not availab le
n. a .
n . •.
n.• .
Append1>< Table 6.
R41vhed Ind""". of Output per tl4n_hotJr, IloIJrly Cooopentati o n
"nd Unl t Labor Costs, 1970_71 (I ndu ... . 1967- 100)
Se"aonally
,t,d
J"ned
~.,
Ye.r "nd
Q""rter
Output per
.. n-ho"r
Output
II<In _l>o"u
Cooopenntl on
~<
. .n_ho".
"
co.penu_
tlon per
. . n_ho"r
"
Unit
I"bor
con
Unit
non_labor
co...
"
Tot,,1
"nit
Unit
Prof! t.
conl!!1
Implicit
price
d"flator
Non!ln.ncl,,1 Corrout\OI,"
1970
2nd . ..
Jrd ...
4th .• ,
103.6
106.9
109 .1
108. I
110.0
109.8
110 . 8
107.7
104.2
102. 7
101 .6
99.7
Ll9.6
I 22. I
125.3
Ann" .. 1 Ave.
107.4
109 . 6
111. 3
112.5
114. J
115. J
II 3. 4
I . . . ..
1971
1st ...
2nd. ,
3.d.
.:.th •.
AnDud Ave.
See footnote • • t ,00
126.5
105.0
10.5 . 3
107 . I
106.7
11 J. 2
1 14. 2
114. <)
I L7 . I
117.8
12 I • J
12 J. 3
I 28. 7
114.4
115.9
117 .0
119.9
72.7
72. 9
72.8
67 . 2
106. I
109 . 4
110. )
11 200
102.0
12).4
106. 1
114 . 9
122. <)
11 6.8
71. 3
I 10 . 0
I II .4
I I 2. a
II J. 7
II 5 . <)
100. 1
100.2
99.5
100.6
129.2
I 31 . 2
133.9
135 . I
108.1
10a . 7
109 . 7
I 10. I
II 6. 1
116 . 6
117. I
II 7 • 2
127.0
126.5
127.6
127.6
IIS.S
119. I
119.7
119.8
78.5
al. l
8l.0
80.0
112 . 7
II 3. 3
113. 9
113.8
II 3. S
100. I
132. J
109. I
116. 7
I 27 • 2
119.3
SO. ,
1I1.4
"
t.ble
,.
App"ndh rebl" 7.
s.. _ry
of R"vhi~ 1n Productivity
Co. t" • 1970 - 1912
Percent Chense Pro. Pr"vioua Yeer
Out!!"t
un
~er
.. n-hour
Revi- Pr.v- Dlff.ri0l!! enee
,,~
Pr i vete
1910
19 71
1972
Prl;· . t e
N"" h~
197 0
1971
1912
,., ,., ,.,
'.5
•••
•. 8 ..,
Co.peneetlon per
.... -ho ...
1973
Revi- Prev- Ilifferei2!'l >o~ ence
,,..., ,..... ,.,
, ,..
'.8
-0.4
Hanuhc turins
19 70
19 71
19 H · .
non-lebor
I!:!!_nt.
1973 ~"'"
Revi- Prev- DHfuenCe
-,~
,-.. , .. ,
,.,
,'.8.. ,.,
'"' ,..
....
1913
Revi- Prev- Differ~ 1!!11 i!:tll' 11l!;;1
l10plteit Prier
Deflator
1973
Revl- Prev-- D1f{e~
dilll '!!!.Ill t!l~t
,.,
,. , ..,
,.,
'.8 '.8
,.,
,.,
.., L' ,.. •••... ..
, .8 ..8
. 1.9
-1.0
5.'
00.5
·
·.
~1t
Coete
&H
.
..
,., .., ... ,..,..
,... ,, ,.. ,,.... ,,.,.. '"' ,..
•••
•••
,..
..
,
...
...
•
••
..,
,.,
.., ..,
,
..
'"'
,
..
,
..
,
..
,
..
'"'
•••
..,
,.,.., ,,.... ,.,
..
,
,.. ...
,.. ..,
•••
..,
,
..
..
,
..
,
..
,
.., ,..
,.,
..,
... '"' '"' ,.. ..,••• ,..
,,..., ••• ,•..•• ,. ,
,..... ,. , ,.. ,.,
...
'"' ..,
,.. ,..
.. ,
•••
>.6
-0.1
-0.1
Mon [ I nanda 1
Cor po ratIon.
19 70
1971 .
19 72
'"'
5.5
L'
-0.1
'.8
-0.8
5.8
5.'
'.8
'.8
-0 .6
L'
-0.9
L.
L'
00 .•
L'
'.8
-1.1
-0.1
U
-1.0
-1. 2
-0.8
0.'
U
'.5
-0.4
-0.1
'.8
L'
1.8
'.5
5.'
'.5
-0.5
CHRRT I . PRODUCTIVITY . HOURLY
COMPENSR TI ON . UNIT COSTS AND PRICES
TO TAL PR IVATE ECONOMY
(PERCENT CHRNGE FROM PRECEDING
QUARTER AT RNNUAl RATE)
"
OUTPUT PER MANHOU
.. ....... __ .
~
-0 · 2
..
•
•
•
__ ......... -,• -_........................
.
••
•
COM PE NSATION PE R MANHOUR
",
,
.,
"
,.,
"
",
,
UNIT LABOR COSTS
"
'"
.........7""
.... ~..~
.. + ..~
..........., .. .
,
UNI T NQNLABOR PAYM ENT
"
5 .•
.-:- ............ .
........ . . ..
"'
;........ .. ~---"\
•
----- .. i··········",
··-'-'---·--··-· ... ·············
•
.........
!95?
196B
.. ,,
,
,
1969
1970
1971
1912
1913
JULY Z7 . 1S n
,
,
j,
PRi Ce: DEFUIT OR
_---.--- ........ --
"
.,
,.,
" "
,
••
•
,,
"
",
PROOJCfrvIT
liOURlY
CUMPENSRTION. U~IT COSTS RNO PRICES
PRIVATE t'ONFRRrt SECTOR
'~ERCENT CH~NGE FROM PRECED1~IG
CURRIER AT ANNU AL RR-EJ
Crl~RT
v
£.
C:Or1P(tlS~~
1
IJ'1 rER
,
'1~Nt'lOI,JR
"
::;\
·
.
,.,
·,,
,
:
,
,
.
.
.
. .·
, , :
..
"
:
.
{
.,
,,
,
,,
-- ,,,
,
.
,
IJNi TLRBORCOSTS:
•
~
~
·
--- - ,
a
<5
:
')
•
'!!
1"~'T'---'-==VKzsh'x---'-'-'U~I NONLR8~R PRYM(NTi~ 1. - ;. --1I
:
...... ··
,
..
:
.
II
Il
t.......... __ .j ........... ~.R::.~( OEfLRTOR
.. I
5.3
........ .
~:,
1968
1969
1970
,
a
J .,
.......
I 97 1
1912
1973
JULY 21.1973
•
a
<5
T
,
,
~ ..............). ............ ; .. ..
,
,•
,••
1967
,
r:
CHA~T 3.
P~OOUCT1VITY. HOURLY
COMPENSRTION. UNIT COSTS RND PRI CES
NONFI NAN CIA L CORPORATIONS
{PERCENT CHRNGE FROM SRME
QUARTER A YEAR AGOl
.. .. . . . . .. . .· r· HHr· --/..t-.
1-"
OUTPUT PER MAN HOUR
.=......
c:;c:t..
...... .. ... .. .
5
- .- ............. · .. · -·-·- .. 1 -
0
-5
COMPENSATION PER MANMOUR
!
5.'
I
------,,1 -
"
"s
o
"
"
UNIT LABOR COSTS
I
5
o
UNIT NONL A80R PAY MEN TS
. . . . . . . + ./7. • • • • • •• • • • • •
!
3.!
"
"
5
o
-5
~·~· ~· ~· ~· ~·~·i·~·~·~· ~· ~· '~·'E!~ ~· ~O.~~ .C~'i·'~ ·..R~;..;..;.d~~~·~·~· ~· · ~·~· ·~ · ~··t·~·~·;·~·~;:·~'· r
1961
1968
1959
1970
1911
191'Z
1913
JULY 27.1913
CHART 4.
UNIT COSTS . UNIT PROFITS. AND PRICES
NONFINRNCIAL CORPORRTIONS
(PE RCENT CHANGE FROM SAME
QURRTER A YERR RGO!
..........J.,........ ~.~~.~~ COS·~~·i~·~~··~·~·I.'-i
••
.~...........
,,
••
•
•
:
j,
.i ........L~.
.
.
·
:
•. ...... .... ;. __ _........
TO
: :
5
I-
IS
.. . . 'r'''".c'lr5,,'~.~.]''+,.. . _: ~ ,
TO
.
.
.
,'
'
,
.
,
I
r-------";-------ti-------ti-------";----~~:=---'===:>-----='C·''ll :
• •
i•
TO:T ,"l COST fER U~IT !
;
i I 1-
:......... ---~ --- -... +......~ .....:············i··············j·········!:·~·1 ••
•
,
••
,
,
,,
""
,~
•
•
•
,
,
,,
·············i··.L__c_o.c .. ____ .........
"
TO
5
,
Ji
,l..........................
/ l'vr'
. . - . . . .~ . . . . . . .:~
I-
-5
I-
->0
1
••
•
••
•
! O. Z
, .
,
"
IS
20
f'R;OfITS PER:UNII
,,"
I:
5
"
.
,
••"
••
••
••
•
••
•
••
"
•
•
/
I1-
.
I··
f-------t-------+'-------'~.;:;;.L---1---------j:--------;i-------11 '
,
. . . ._ r--...
•
IS
TO
5
0
-1 S
=
.
.
.
.
.
.
.
.
: -........ ,
·~-~-~·~-~-~-=·t'·=-~-=·i-=-~-·="±~ =~'='~· =r.:p='.±~ c;'".;o;-"';.f-:_L:'~rt:'~'~~~3i~~~~1t::=:=:~·'d
j ':,
t
n
:
! 961
•• :- ••
~. . . . . .
: ...
:
1968
••••• n
1969
.,
! 910
1911
191 3
JULY Z1, 1913
! 91Z
@FedFRASER