Full text of Productivity and Costs : Second Quarter 1985

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F~1//

7`

Bureau of Labor t tis i

~

United States
Department
of Labor
Washington, D . C . 20212

A'~

~c

Historical, technical USDL 85-296
information : (202) 523-9261 For Release : 10 :00 AM EDT
Current data : (202) 523-1221 or 1208 Thursday, July 25, 1985
Media contact : (202) 523-1913

PRODtUCTIVITY AND COSTS
Second Quarter 1985

The Bureau of Labor Statistics of the U .S . Department of Labor today
reported preliminary productivity statistics--as measured by output per hour of
all persons--for the second quarter of 1985 . The seasonally-adjusted annual
rates of productivity increase in major sectors of the economy from the first
to the second quarter of 1985 were : .

0®5
0,5
7 .5
7 .3
8 .0

percent
percent
percent
percent
percent

in
in
in
in
in

the business sector,
the nonfarm business sector,
manufacturing,
durable goods manufacturing, and
nondurable goods manufacturing .

Second-quarter measures are summarized in table A and appear in detail in
tables 1 through 6 .
Business

Productivity increased at a 0®5 percent seasonally adjusted annual rate in
the second quarter of 1985 in the business sector, as output increased 1,8
percent and hours of all persons increased 1 .3 percent (table 1)a During the
first quarter, productivity declined 3®9 percent ; although output showed no
growth during the first quarter, hours rose 401 percent, The smaller increase
in hours during the second period reflected slower employment gains and a
decline in the length of the average work-week compared with the first quarter .
Hourly compensation increased at a 3®3 percent annual rate during the
second quarter, compared with 4,8 percent increase in the first quarter . This
measure includes the cost to employers of wages and salaries, supplements,
payments to employee-benefit plans, and taxes . Real hourly compensation, which
also takes into account changes in the Consumer Price Index for All Urban
Consumers (CPI-U), declined 0,8 percent in the second quarter, compared with a
1,4 percent gain during the first quarter . This was the first quarter of
declining real hourly compensation in a year . Unit labor costs, which reflect
changes in both productivity and hourly compensation, increased 2 .8 percent in
the second quarter . During the first quarter, these costs rose at a 9,1
percent annual rate .
The implicit price deflator for the business sector, which is a measure of
price change for business net output, rose 2 .1 percent in the second quarter,
compared with 5,0 percent gain during the first quarter .




-2Table A® Productivity and cost :
rates)

Percent change at

'
ProducSector

tivity

Output

Hours

(Seasonally adjusted

annual

Hourly
compen-

Real
hourly
compen-

Unit
labor

sation

sation

costs

PRELIMINARY

First quarter to second quarter 1985
Business
Nonfarm business
Manufacturing
Durable
Nondurable

0,5
0,5
7,5
7 .3
8 .0

1
1
2
1
3

.8
.9
.5
.6
.9

1®3
1 .4
-4®7
-5,3
-3 .7

3,3
3,4
4,7
4 .8
4®7

-0 .8
-0 .7
0 .5
0 .6
0 .5

2,8
2 .9
-2 .6
-2 .3
-3 .0

0 .5
0 .3
1,1
1 .1
1 .0

4®2
4®3
1 .3
1 .2
1 .4

First quarter 1984 to first quarter 1985
Business
Nonfarm business
Manufacturing
Durable
Nondurable

0,1
-0 .4
3,5
3 .6
3,2

2,1
1 .9
2,4
3,2
1 .4

2
2
-1
-0
. . -1

.1
.3
.0
.4
.8

4
3
4
4
4

.2
.9
.8
.8
.7

Nonfarm business
Productivity in the nonfarm business sector also rose 0 .5 percent in the
second quarter reflecting gains in the output and hours of 1,9 percent and 1 .4
percent, respectively (table 2) . During the' first quarter, nonfarm productivity declined 3 .1 percent, (Productivity changes in business and nonfarm
business were * identical in the second quarter since there was little change in
farm productivity during the period .)

Hourly
with a 5 .0
increase in
labor costs
increase in

compensation increased 3,4 percent in the second quarter, compared
percent gain during the first quarter . After allowing for the
the 'CPI-U, real hourly compensation declined 0 .7 percent, Unit
rose 2,9 percent, a considerably smaller rise than the 8 .4 percent
the first quarter .

The implicit price deflator rose .2 .7 percent in the second quarter,
compared with a 5,5 percent increase during the first quarter .
Manufacturing

Output per hour of all persons increased 7 .5 percent in manufacturing
during the second quarter, as output rose 2 .5 percent and hours of all persons
decreased 4 .7 percent (table 3), Although productivity grew strongly in both
durable and nondurable goods manufacturing, output increased faster in
nondurables (tables 4, 5) .




-3Hourly compensation increased at a 4 .7 percent annual rate in the second
quarter in manufacturing as a whole, or 0 .5 percent in real terms after the
increase in the CPI-U is taken into account . Unit labor costs declined 2 .6
percent during the period .
Revised measures
The manufacturing productivity and cost measures in tables 3-5 reflect the
revised Index of Industrial Production prepared by the Board of Governors of
the Federal Reserve . Historical measures are available on request from the
Office of Productivity and Technology, Bureau of Labor Statistics, Washington,
D .C . 20212, telephone (202) 523-9261 . Revised output and compensation measures
from the Bureau of Economic Analysis which are usually introduced at this time
of year, are scheduled for announcement in December 1985, and will appear in
the January 1986 issue of Productivity and Costs .
Preliminary and revised productivity and cost measures for no°nfinancial
corporations for the first quarter are compared in table B . The decline in
output per all-employee hour in the first quarter is smaller than was reported
on May 29, based on information then available .

Table B . Nonfinancial corporations : Preliminary and revised first quarter 1985 productivity and
cost measures , quarterly change at seasonally adjusted annual rate
cent

Hourly
ccmpen--

ProducItem

tivity

output

Hours sation,

Real
hourly
c n-

Unit
labor

Unit

sation

costs

profits

Implicit
price

def lator
Preliminary
Revised

.-2 .8
-2 .5




0 .3
0 .6

3 .2
3 .3

4 .0
3 .9

0 .7
0 .6

7 .0
6 .6

-1 .3
-1 .0

5 .7
5 .1

-4-

from the
Bureau of
Labor Statistics

o Productivity
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1954-83

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-5-

TECHNICAL

Business sector output is equal to gross national product, less the
rest-of-the-world sector, general government, output of paid employees of
private households and nonprofit institutions, rental value of owner-occupied
dwellings, and the statistical discrepancy in computing the national income
accounts . Corresponding exclusions are also made in labor inputs .4~ Business
output has accounted for about 77 percent of gross national product in recent
years .
Total manufacturing measures are computed by summing series prepared for the
durable and nondurable goods sectors .
The durable sector includes the following 2-digit SIC industries : Primary
metals ; fabricated metal products ; nonelectrical machinery ; electrical
machinery ; transportation equipment ; instruments ; lumber and lumber products ;
furniture and fixtures ; stone, clay, and glass products ; and miscellaneous
manufactures . The nondurable sector includes the following 2-digit SIC
industries : Textile mill products, apparel products, leather and leather
products, printing and publishing, chemical and chemical products, petroleum
products, rubber and plastic products, foods, and tobacco products .
Manufacturing output has accounted for about 24 percent of gross national
product in recent years .
Nonfinancial corporate output is equal to gross national product, less the
rest-of-the-world sector, general government, unincorporated business, output
of paid employees of private households and nonprofit institutions, rental
value of owner-occupied dwellings, the output of corporations engaged in
banking, finance, stock and commodity trading, and credit and insurance
agencies, and the statistical discrepancy in computing the national income
accounts . Nonfinancial corporate output has accounted for about 59 percent of
gross national product in recent years .

The productivity and associated cost measures in this news release describe the
relationship between output in real terms and the labor time involved in its
production . They show .the changes from period to period in the amount of goods
and services produced per hour . Although these measures relate output to hours
of all persons engaged in a sector, they do not measure the specific contributions of labor, capital, or any other factor of production . Rather, they
reflect the joint effects of many influences, including changes in technology ;
capital investment ; level of output ; utilization 'of capacity, energy, and
materials ; the organization of production ; managerial skill ; and the
characteristics and effort of the work force .




-6Table 1 . Business sector : Productivity, hourly compensation, unit labor cost, and prices, seasonally adjusted

Year and
quarter

Output per
hour
of all persons

output

Hours
of all
persons

Compensation per
hour(l)

Real
compensation per
hour(2)

Unit
labor
cost

Unit nonlabor payments(3)

Implicit
price
deflator(4)

Indexes 1977=100
1
II
III
IV

105 .7
107 .0
107 .2
108 .0

117 .8
121 .0
121 .5
123 .0

111 .4
113 .0
113 .4
113 .9

166 .7
167 .5
169 .3
171 .1

98 .6
98 .2
98 .3
98 .5

157 .7
156 .5
158 .0
158 .4

151 .6
157 .2
158 .5
160 .2

155 .6
156 .7
158 .1
159 .0

ANNUAL

107 .0

120 .8

112,9

168 .6

98 .4

157 .6

157 .0

157 .4

106 .9r
107 .1p

123 .Or
123 .6p

115 .Or
115 .4p

173 .lr
174 .6p

98 .9r
98 .7p

161 .9
163 .Op

159 .lr
159 .4p

160 .9r
161 .8p

1984

1985

I
II

-,

Percent change from previous quarter at annual rate(s)
1
II
III
IV

4 .0
4 .9
0 .6
3 .1

11,4
11 .2
1 .8
5 .0

7 .2
6 .0
1 .2
1 .8

6 .2
1 .9
4 .4
4 .4

0 .8
-1 .8
0 .7
0 .8

2 .1
-2 .9
3 .7
1 .2

7 .0
15 .4
3 .4
4 .3

3 .7
2 .9
3 .6
2 .2

ANNUAL

3 .2

8 .8

5 .4

4 .2

0 .0

1 .0

7 .9

3 .2

O .Or
1 .8p

4,1r
1 .3p

4 .8r
3,3p

1 .4r
-0 .8p

9 .lr
2 .8p

-2 .6r
0,6p

5 .Or
2 .1p

1984

1985

I
II

-3,9r
0 .5p

Percent change from corresponding quarter of previ ous year
1984

1985

j- .

1
II
III
IV

3 .5
3 .3
2 .7
3 .2

10 .2
9 .9
8 .0
7 .3

6 .5
6 .4
5 .1
4 .0

4 .1
4 .0
4 .6
4 .2

-0 .4
-0 .3
0 .4
0 .1

0 .6
0 .7
1 .9
1 .0

8 .4
8 .7
7 .1
7 .4

3 .0
3 .3
3 .6
3 .1

ANNUAL

'3 .2

8 .8

5 .4

4 .2

0 .0

1 .0

7 .9

3 .2

4 .4

3 .2

3 .8r

0 .3r

2 .7

4 .9r

3 .4r

2 .1p

2 .1p

4 .2p

0 .5p

4 .2p

1 .4p

3 .2p

1

II

1 . 1r
0 .1p

See footnotes following table 6 .
r--revised
p=preliminary




July 25, 1985
Source : Bureau of Labor Statistics

-7Table 2, Nonfarm business sectors Productivity , hourly compensation , unit labor cost, and prices , seasonally adjusted
Year and
quarter

output per
hour
of all persons

output

Hours
of all
persons

Canpensation per
hour ( l)

Real
compensation per
hour(2)

Unit
labor
cost

Unit nonlabor payments ( 3)

Implicit
price
deflator(4)

Indexes 1977=100
1984

I
II
III
IV

105 , 2
106,6
106 .3
106,9

118 .0
121 .0
121,3
122 .7

112.,3
113 .6
114 .1
114 .8

166 .5
168 .0
169,5
171 .0

98 .4
98 .4
98,4
98 .5

158 .3
157 .6
159 .5
160 .0

152 .2
156 .8
158 .0
160 .3

156 .3
157 .3
159 .0
160 .1

ANNUAL

106 .2

120,7

113 .6

168 .7

98 .4

158 .8

156 .9

158,2

106,Or
106,2p

122,8r
123 , 4p

115,8r
116,2p

173,lr
174 .6p

98,9r
98 .7p

163,3r
164,5p

160 , 3r
161 .2p

162,3r
163 .4p

1985

I
II

Percent change from previous quarter at annual rate(s)
1984

I
II
III
IV

2,9
5 .5
-1 .1
2 .2

10 .3
10 , 6
0 .7
4 .7

7 .2
4 .8
1 .8
2 .4

6 .1
3 .7
3,6
3 .7

0 .7
0 .0
-0 .1
0 .1

3 .1
-1 .7
4 .7
1 .4

2 .3
12 .5
3 .1
5,9

2,8
2 .8
4 .2
2 .9

A AL

2,7

8 .5

5 .7

4,1

-0 .1

1,4

6 .7

3 .1

0 , 5r
1,9p

3,7r
1,4p

5,Or
3 .4p

1,7r
-0 .7p

8,4r
2 .9p

0,lr
2 .4p

5,5r
2 .7p

1985

I
II

-3,lr
0,5p

Percent change f
1984

I.
II
III
IV

ANNUAL
1985

I

II

corresponding quarter of previous year

3,5
2,9
2,1
2 .4

10 , 6
9 .7
7 .6
6 .5

6,9
6 .6
5 .4
4 .0

4 .0
4 .0
4 .4
4 .3

-0 .5
-0 .3
0 .2
0 .2

0 .4
1 .1
2 .3
1 .9

8 .3
7 .1
5 .7
5 .9

2 .9
3 .0
3 .4
3 .2

2 .7

8 .5

5 .7

4,1

-0 .1

1 .4

6 .7

3 .1

0,8r

4,Or

3,2r

4,Or

0,4r

3 .1

5 .3r

1 .9p

3,8r

2,3p

3 , 9p

0 .3p

4,3p

2 .8p

3 .8p

-0 .4p . . .

See footnotes following table 6 .
r=revl
p=preliminary




July 25, 1 985
Source : Bureau of Labor Statistics

-8Table 3 . Manufacturing sector : Productivity, hourly canpensation, and unit labor cost,
seasonally adjusted
Year and
quarter

Real
Output per Output Hours
Ccanpensacanpensa- Unit
hour (6) of all ticn per tion per labor
of all persons persons
hour(l) hour(2) cost
Indexes 1977=100

1984

I
II
III
IV
ANNUAL

1985

I
II

114,2r
114,8r
116 .7r
116,5r

113,Or
114,9r
116,7r
116,7r

115 .6

115 .3

116,7r
118,8p

117,Or
117®7p

k

98 .9
100 .1
100,0
100 .2

167 .1
168 .3
169 .9
172 .1

98 .8
98 .6
98 .7
99 .1

146,3r
146,6r
145,5r
147,7r

99 .8

169 .4

98 .8

146 .5

174 .4r
176,4p

99 .6
99,7p

149,5r
148 .5p

100,3r
99,1p

Percent change from previous quarter at annual rate(5)'
1984

I
II
III
IV
ANNUAL

1985

I
II

5 .5r
2,2r
6 .8r
-0,6r
3 .5
0,4r
7 .5p

14,8r
6 .9r
6 .5r
O,Or
10 .5
0 .9
2,5p

8,8
4 .6
-0 .2
0 .7

6 .2
2 .9
3 .7
5 .2

0 .8
-0 .8
0 .1
1 .6

0 .6r
0,7r
-2,8r
5,9r

6 .7

3 .6

-0,6

0 .1

0 .4r
-4 .7p

5,6r
4,7p

2 .2r
0 .5p

5 .1
-2,6p

Percent change fran corresponding quarter of previous year
1984

I
II
III
IV

ANNUAL
1985

I
II

3®8r
3 .6r
3®3r
3,4r

13,9r
12,2r
9,3r
7,Or

9 .7
8 .3
5 .8
3 :4

2 .7
3 .3
3 .9
4 .5

-1 .7
-1 .0
-0 .3
0 .4

-1 .0r
-0,3r
0,6r
1,0r

3 .5

10 .5

6 .7

3 .6

-0,6

0 .1

2,lr
3 :5p

See footnotes following table 6 .
r--revised
p=preliminary .




3®5r •
2,4p

1,4r
-1,0p

4 .4
4 .8p

0 .8
l,lp

2,2r
1 .3p

July 25, 1985
Source: Bureau of Labor. Statistics

-9Table 4 . Durable manufacturing sector : Productivity, hourly compensation, and unit labor cost,
seasonally adjusted-

Year and

quarter

Output per

hour
of all persons

Output

Hours

(6)

of all
persons

Compensa-

tion per
hour(1)

Real
ccanpensation per
hour(2)

Unit

labor
cost

Indexes 1977=100
1984

I
II
III
IV
ANNUAL

1985

I
II

115®3r
116 .1
118 .3
117 .7r

114 .lr
116 .6
119 .4r
119 .5

98 .9
100 .4
101 .0
101 .5

165 .8
167 .0
168 .1
170 .1

98 .1
97 .8
97 .6
97 .9

143 .8r
143 .8
142 .lr
144 .4

116 .9

117 .4

100 .4

167 .7

97 .9

143 .5

118 .2r
120 .3p

119 .8r
120 .3p

101 .4r
100 .Op

172 .9r
175 .Op

98 .7r
98 .9p

146 .3r
145 .5p

Percent change from previous quarter at annual rate(5)
1984

I
II
III
IV
ANNUAL

1985

I
II

8 .4r
2 .8r
7 .6r
-1 .8r
4 .8
1 .5r
.7 .3p

20 .3r
9 .2r
9 .9r
0 .3r
14 .4
1 .2r 1 .6p

10 .9
6 .2
2 .1
2 .1

6 .1
2 .8
2 .6
4 .9

0 .8
-0 .9
-1 .0
1 .3

-2 .2r
O .Or
-4 .6r
6 .8r

9 .1

3 .2

-1 .0

-1 .6

-0 .4r
-5 .3p

6 .9r
4 .8p

3-.5r
0 .6p

5 .3r
-2 .3p

Percent change from corresponding quarter of previous year
1984

'

I
II
III
IV
ANNUAL

r

1985

I
II

5 .5r
5 .1r
4 .6r
4 .2r

18 .5r
16 .7r
13 .4r
9 .7r

4 .8

14,4

2 .5r
3 .6p

5 .Or
3 .2p

See footnotes following table 6 .
r--revised
cs
p=preliminary




12 .3
11 .1
8 .4
5 .3

2 .2
2 .9
3 .4
4 .1

-2 .2
-1 .4
-0 .8
0 .0

-3 .lr
-2 .Or
-1 .2r
-0 .lr

9 .1

3 .2

-1 .0

-1 .6

2 .5r
-0 .4p

4 .3r
4 .8p

0 .7r
l .lp

1 .8r
1 .2p

July 25, 1985
Source : Bureau of Labor Statistics

-10Table 5, Nondurable manufacturing sector : Productivity, hourly compensation, and unit labor cost,
seasonally adjusted

Year and
quarter

output per
hour
of all persons

output
(6)

Hours
of all
persons

Canpensation per
hour(l)

Real
canpensation per
hour(2)

Unit
labor
cost

Indexes 1977=100
1984

I
II
III
IV

ANNUAL
1985

I
II

112,5r
112,9r
114®4r
114,7r

111,4r
112,3r
112,8r
112,7r

99,0
99,5
98,6
98,2

169,5
170 .6
172,7
175,1

100 .2
100,0
100 .3
100,8

150,6r
151,2r N
151,lr
152,7r

113 .6

112,3

98,9

171,9

100,3

151,4

114,3r
116,5p

112,8r
113,9p

98 .7
97 .7p

176,6
178,6p

100,8
101 .Op

154,5r
153,3p

Percent change from previous quarter at annual rate(5)
1984

I
II
III
IV

.ANNUAL
1985

I
II

1,3r
1,2r
5,4r
l,lr

-0 .4r

1,5

4 .9

-1,3r
8,Op

7mlr
3,6r,
1,5r

0,4r
3,9p

5 .8
2,4
-3,7
-1,5

5,8
2,7
5,1
5,5

0 .5
-1,0
1,4
1,9'

4,5r
1 ;5r
-0,3r
4,3r

3,3

3,8

-0,4

2 .3

1 .7
-3 .7p

3 .5
4,7p

'0,2
0,5p

4,9r
.-3,Op

Percent change from corresponding quarter of previous year
1984

I
II
III
IV

ANNUAL
1985

I
II

1,3r
1,3r
1,3r
2,2r

7,5r
5,9r
3 .4
2,9r

6,1
4,5
2,1
0,7

3,0
3,3
4,3
4,8

-1,4

1,5

4,9

3 .3

3,8

-0,4

1,6r
3,2p

1,3r
1®4p

See footnotes following table 6
r=revised
p=Preliminary




-0,3
-1,8p

4,2
4,7p

0,1
0,7

0,6
1,0p

1,7r
2,Or
2,9
2 .,5r
2,3
-2,6r
1,4p

July 25, 1985
Source : Bureau of Labor Statistics,

-12-

-11Table 6 . Nonfinancial corporations : Productivity, hourly compensation, unit labor cost, unit profits,
and prices, seasonally adjusted
Year Output Employee Hourly Real Unit Unit Total Unit Implicit
and per all- Output hours crmpensa- hourly labor non- unit pro- price
quarter employee tion ccmpen- cost labor cost fits deflator

hour

(1)

sation(2)

cost(7)

(8)

(9)

(4)

Footnotes, Tables 1-6
SOURCE : Output data from Bureau of Economic Analysis, U .S . Department of
Commerce, and the Federal Reserve Board . Compensation and hours data from the
Bureau of Labor Statistics, U .S . Department of Labor, and the Bureau of
Economic Analysis .

Indexes 1977=100
1984 I 108 .1
II 108 .9
III 108 .2
IV 108 .8

120 .2
123 .1
123 .1
124 .7

111 .2
113 .1
113 .8
114 .6

164 .8 97 .5
165 .8 97 .2
167 .1 97 .1
168 .7 97 .1

ANNUAL 108 .5 122 .8 113 .2 166 .6

152 .5
152 .3
154 .5
155 .0

162 .0
162 .8
165 .9
166 .4

155 .0
155 .0
157 .5
158 .0

143 .2
151 .1
145 .3
150 .7

153 .6
154 .6
156 .1
157 .1

97 .2 153 .6 164 .3 156 .4 147 .6 155 .4

RELIABILITY : Based on data covering the period from the fl-st quarter of 1976
to the second quarter of 1984, the probability is 0 .95 that the interval
between -1 .8 and 2 .0 index points contains the revision of the index of
productivity in the business sector from the first to the third quarterly
publication of the estimate .

1985 I 108 .1 124 .9r 115 .5 170 .3r 97 .3 157 .5r 168 .lr 160 .2r 150 .4r 159 .lr
Percent change from previous quarter at annual rate(5)
1984

I 3 .6 11 .6
II 2 .8 9.8
III -2-.5 0 .2
IV 2 .5 5 .2

ANNUAL 2 .3

9 .0

7 .7
6 .8
2 .8
2 .6

5 .7 0 .4 2 .0 -3 .2
2 .4 -1 .3 -0 .4 2 .0
3 .2 -0 .4 5 .9 8 .0
3 .7 0 .2 1 .2 1 .1

0 .6
0 .2
6 .5
1 .2

23 .4
23 .8
-14 .5
16 .0

2 .7
2 .6
3 .9
2 .7

6 .6

3 .5

0 .7 25 .9

3 .0

-0 .8

0 .6r 3.3r 3 .9r

0 .6r

1 .1 -0 .4

6 .6r 4 .Or 5 .9r -1 .Or 5 .lr

1985

I

-2 .5r

1984

I
II
III
IV

4 .0
2 .9
0 .9
1 .6

11 .8
10 .5
7 .4
6 .6

_ 7 .5
7 .5
6 .4
5 .0

3 .6
3 .3
3 .3
3 .8

-0 .9
-1 .0
-0 .9
-0 .3

-0 .4
0 .4
2 .4
2 .2

-3 .0
-1 .4
0 .9
1 .9

-1 .1
-0 .1
2 .0
2 .1

54 .8
35 .2
14 .7
10 .9

2 .8
2 .9
3 .2
3 .0

ANNUAL

2 .3

9 .0

6 .6

3 .5

-0 .8

1 .1

-0 .4

0 .7

25 .9

3 .0

0 .0

3 .9r

3 .9r

3 .3

-0 .2

3 .3r

(1) Wages and salaries of the employees plus employers' contributions for
.social insurance and private benefit plans . Except for nonfinancial corporations, where there are no self-employed, data also include an estimate of wages, salaries, and supplemental payments for the self-employed .
(2) Compensation per hour adjusted for changes in the Consumer Price Index
for All Urban Consumers .
(3) Nonlabor payments include profits, depreciation, interest, rental
income, and indirect taxes .

Percent change from corresponding quarter of previous year

1985

I

3 .8r

3 .4r

5 .Or

(5) Quarterly changes : percent change compounded at annual rate from the
original . data rather than index numbers . Annual changes : percent change
between annual average levels .

3 .6r

See footnotes following table 6.
r--revised
July
25,
1985
p=preliminary .
Source : Bureau of Labor Statistics




(4) Current dollar gross product divided by constant dollar gross product .

(6) Quarterly measures adjusted to . annual estimates of output (gross product originating) from the Bureau of Economic Analysis, U .S . Department
of Commerce .
(7) Unit nonlabor cost includes depreciation, interest, and indirect taxes .
(8) Total unit cost is the sum of labor and nonlabor costs .
(9) Unit profits include corporate profit and inventory valuation adjustment .