Full text of Productivity and Costs : Second Quarter 1987

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News

Bureau of Labor Statistics

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

Historical, technical
information: (202) 523-9261
Current data : (202) 523-1221 or 1208
Media contact: (202) 523-1913

USOL 87-333
For Release 10:00 AM EOT
Monday, August 3, 1987

PRODUCTIVITY AND COSTS
Second Quarter 1987
The Bureau of Labor Statistics of the U.S. Department of Labor today
reported preliminary productivity data—as measured by output per hour of all
persons—for the second quarter of 1987. The seasonally-adjusted annual rates
of productivity change in the second quarter were:
1.3
1.4
3.3
2.9
4.2

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 results show faster productivity advances than during the
first quarter, as growth in hours slowed more than output. Hourly compensation
and unit labor costs grew more rapidly than during the first quarter, and
declines in real hourly compensation were smaller. Second-quarter measures are
summarized in table*A and appear in detail in tables 1 through 5.
Business

Productivity increased at a 1.3 percent annual rate during the second
quarter of 1987 in the business sector, as output rose 3.0 percent and hours
of all persons engaged in the sector increased 1.7 percent (seasonally adjusted
annual rates). During the first quarter of 1987, productivity had increased
0.5 percent (table 1).
Although productivity grew more rapidly ;in the
April-June period, output and hours increases were smaller than during the
first quarter.
Hourly compensation increased at a 3.2 percent annual rate during the
second quarter of 1987, compared with a1.4 percent gain during the previous
quarter.
This measure includes wages and salaries, supplements, employer
contributions to employee-benefit plans and taxes. Unit labor costs, which
reflect changes in hourly compensation and productivity, increased at a 1.9
percent annual rate during the second quarter, compared with a 0.9 percent
increase during the first quarter.
Real hourly compensation, which takes into account changes in the Consumer
Price Index for All Urban Consumers (CPI-U), declined at a 1.7 percent annual
rate during the second quarter.
During the first quarter, this measure
declined at a 3.7 percent annual rate.
The implicit price deflator for business output, which reflects changes in
unit labor costs and unit nonlabor payments, increased 3.7 percent in the first
and second quarters. Last year, this deflator rose 2.1 percent.




- 2-

Table A. Productivity and costs: Preliminary second quarter 1987 measures
(Seasonally adjusted annual rates)

'Productivity

Sector

Output

Hours

Hourly
compensation

Real
hourly
compensation

Unit
labor
costs

-1.7
-1.9
-2.9
-3.4
-2.0

1.9
1.5
-1.4
-1.4
-1.4

-1.0
-1.1
-2.3
-2.6
-1.6

2.4
2.4
-1.3
-2.3
0.3

Percent change from preceding quarter
Business
Nonfarm business
Manufacturing
Durable
Nondurable

1.3
1.4
3.3
2.9
4.2

3.0
3.2
1.7
0.4
3.9

1.7
1.8
-1.5
-2.4
-0.3

3.2
2.9
1.8
1.4
2.8

Percent change from same quarter a year ago
Business
Nonfarm business
Manufacturing
Durable
Nondurable

0.3
0.3
2.8
3.5
1.8

2.8
2.9
3.0
2.7
3.5

2.5
2.6
0.2
-0.7
1.6

2.8
2.7
1.4
1.1
2.1

Nonfarm business
Productivity increased 1.4 percent in the nonfarm business sector during
the second quarter of 1987, as output rose 3.2 percent and hours of all persons
—employees, proprietors, and unpaid family workers—increased 1.8 percent.
During the first quarter of 1987, productivity had increased 0.4 percent in
this sector (table 2). As in the more comprehensive business sector, growth in
output and hours slowed in the second quarter.
Hourly compensation increased 2.9 percent in the second quarter, but real
hourly compensation fell 1.9 percent when the increase in the CPI-U was taken
into account.
During the first quarter, the comparable changes were 1.1
percent and -3.9 percent, respectively.
Unit labor costs increased 1.5
percent, compared with a 0.8 percent rise during the first quarter of 1987.
The implicit price deflator for nonfarm business output rose 2.1 percent
in the second quarter, compared with a 3.4 percent increase one quarter
earlier.
Manufacturing
Productivity increased at a 3.3 percent seasonally adjusted annual rate in
manufacturing in the second quarter of 1987, as output increased 1.7 percent
and hours of all persons dropped 1.5 percent. Output growth slowed and hours
declined in the second quarter of 1987, but productivity grew more rapidly than
during the first quarter (table 3).




- 3-

Hourly compensation of manufacturing workers increased 1.8 percent during
the second quarter, compared with a 1.0 percent decline during the first
quarter. Real hourly compensation.declined 2.9 percent when the increase in
the CPI-U was taken into account.
During the first quarter, real hourly
compensation fell at a 6.0 percent annual rate. No increase has occurred in
manufacturing real hourly compensation in a year. Unit labor costs were down
(1.4 percent annual rate) in the second quarter, compared with a 3.9 percent
decline during the first quarter of 1987.
Both durable and nondurable goods industries experienced productivity
increases in the second quarter, but growth was greater among nondurable goods
producers (tables 4 and 5). Hours of all persons engaged in manufacturing
declined in both subsectors.
Revised measures
The productivity and cost measures contained in this news release for
business, nonfarm business, manufacturing, and nonfinancial corporations are
based on the latest measures of output and hours available. Revised quarterly
and annual output and compensation measures prepared by the Bureau of Economic
Analysis (BEA) of the U.S. Department of Commerce are reflected in the
productivity and cost measures for business, nonfarm business, and nonfinancial
corporations. These new values were published by BEA on July 24 as part of the
regular revision cycle of the national income and product accounts and affect
the last 3 years. For manufacturing, revised quarterly changes in output and
related measures were computed by BLS to take into account the new annual
output levels from BEA for 1984-1986. See appendix tables 1-6.
In addition, recent information on employment and average weekly hours of
all persons engaged in these sectors is also incorporated in productivity and
cost measures at this time. Historical tables are available on request from
the BLS Office of Productivity and Technology, Division of Productivity
Research, Washington, D.C. 20212; (202) 523-9261.
Productivity and cost measures also are available on diskettes formatted
for use on IBM-compatible microcomputers using LOTUS 1-2-3. For ordering
information, contact BLS Data Diskettes, 441 G Street NW, Room 2127,
Washington, D.C. 20212; (202) 523-1090.
Next release date
The next release of productivity and cost measures is scheduled for 10:00
AM EOT, Monday, August 31, 1987.
Preliminary second-quarter measures for
nonfinancial corporations will be released at that time.




BLS Productivity
and Cost Measures
Measures of productivity change for major
sectors of the U.S. economy:
• Productivity and cost measures for U.S.
business, nonfarm business, and manufacturing
every quarter.
• Multifactor productivity and related measures for
U.S. private business, private nonfarm business,
and manufacturing, annually.

How to obtain:
Mailing List:
To obtain the quarterly news release, asl
to be put on a mailing list. Call Bureau
of Labor Statistics, Division of Productivity Research (202) 523-9261.

Electronic News Release:
Quickest. Accessible electronically
immediately at release time through BLS
news release service. Write to the Office
of Publications, Bureau of Labor
Statistics, Washington D.C. 20212, or call
(202) 523-1913.

Data Diskettes:

Monthly Labor Review:

Quarterly productivity and related
indexes are available on diskettes. For
information, call the Office of Publications, Bureau of Labor Statistics (202)
523-7827.

Occasional articles discuss the full range
of BLS productivity findings. Tables
present up-to-date measures in every
issue. Subscription available from
Superintendent of Documents,
U.S. Government Printing Office,
Washington, D.C. 20402, for
$16 a year; $4.75 single copy.




Telephone:
For additional information about
measures summarized in the news
release, call Division of Productivity
Research (202) 523-9261.

- 5 TECHNICAL NOTES

Business sector output is equal to gross national product in constant 1982
dollars, less the rest-of-the-world sector, general government, output of
nonprofit institutions, output of paid employees of private households, rental
value of cwner-occupied dwellings, and the statistical discrepancy in computing
the national income accounts. Corresponding exclusions are also made in labor
inputs. 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 nordurables 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 inclixJes these 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/ food, and tobacco products.
Manufacturing output has accounted for about 24 percent of gross national
product in recent years.
'

?,K;'< '

Nonfinancial corporate output is equal to gross national product in constant
1982 dollars, less the rest-of-the-world sector, general government,
unincorporated business, output of nonprofit institutions, output of paid
employees of private households, rental value of owner-occupied dwelling, the
output of corporations engaged in banking, finance, stock and commodity
trading, and credit and insurance agencies, ard 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 contribution 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; mangerial skill; and the
characteristics and effort of the work force.




- 6-

Table 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
compensa—
tion per
hour (2)

Unit
labor
cost

Unit nonlabor payments(3)

Implicit
price
deflator(4)

Indexes 1977=100
19rt6

1937

IV

r!09.5
rl09.7
r!09.6
r!09.6

r!27.3
r!27.5
r!28.1
r!29.0

rl!6.3
rl!6.3
rl!6.9
rl!7.8

r!80.7
r!82.2
r!83.6
r!85.2

rlOO.l
rl01.3
rl01.4
rlOl.6

r!65.0
r!66.2
r!67.5
r!69.0

r!63.1
r!63.9
r!65.7
r!62.4

r!64.3
r!65.4
r!66.9
r!66.7

ANNUAL

r!09.5

r!28.0

rl!6.9

r!82.8

rlOl.O

r!66.9

r!63.8

r!65.8

I
II

r!09.7
pi 10.0

r!30.2
p!31.1

rl!8.7
pl!9.2

r!85.8
p!87.3

rlOO.7
plOO.3

.r!69.4
p!70.2

r!66.0
p!68.8

r!68.2
p!69.7

I
II
III

Percent change from previous quarter at annual rate(5)

1936

I
II
III
IV

r5.8
rO.6
r-0.3
r-0.1

r6.4
rO.7
rl.8
r3.0

rO.5
rO.l
r2.1
r3.1

r3.2
r3.5
r3.0
r3.6

rl.6
r4.8
rO.5
rO.9

r-2.5
r2.8
3.3
r3.7

r7.5
r2.1
r4.5
r-7.7

rO.9
r2.6
r3.7.
r-0.5

ANNUAL

rl.9

r3.3

rl.4

r3.9

r2.0

r2.0

r2.2

2.1

I
II

rO.5
pi. 3

r3.5
p3.0

r3.0
pi. 7

rl.4
p3.2

r-3.7
p-1.7

rO.9
pi. 9

r9.0
p7.1

r3.7
p3.7

1987

Percent change from corresponding quarter of previous year
1986

I
II
III
IV

ANNUAL

1987

I
II

r2.8 .
r2.3
rl.3
rl.5

r4.2
r3.4
r2.7
r2.9

rl.3
rl.l
rl.5
rl.4

r4.8
r4.4
r3.7
r3.3

rl.7
r2.7
r2.0
rl.9

rl.9
r2.1
r2.4
rl.8

r2.8
r2.2
r2.4
rl.4

r2.2
r2.1
2.4
rl.7

rl.9

r3.3

rl.4

r3.9

r2.0

r2.0

r2.2

2.1

rO.2

r2.3
p2.8

r2.1

p2.5

r2.8
p2.8

rO.6
p-1.0

r2.7
p2.4

rl.8
p3.0

r2.3
p2.6

P°A

See footnotes following table 6.
r=revised
p=prel
iminary



August 3, 1987
Source: Bureau of Labor Statistics

- 7 -

Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor oost, and prices, seasonally adjusted
Year arrl
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
1936

1937

I
II
III
TV

r!07.7
r!07.7
r!07.5
r!07.5

r!26.9
r!27.1
r!27.6
r!28.5

rl!7.9
rllS.O
rl!8.7
rl!9.6

rlSO.O
r!81.3
r!82.6
r!84.4

r99.7
rlOO.8
rlOO.9
rl01.2

r!67.2
r!68.4
r!69.8
r!71.5

r!64.7
. r!65.2
r!67.0
r!63.9

r!66.4
r!67.3
r!68.8
r!68.8

ANNUAL

r!07.5

r!27.5

r!18.6

r!82.0

rlOO.6

r!69.3

r!65.2

r!67.8

I
II

r!07.6
plOS.O

r!29.7
p!30.8

r!20.6
p"121.1

r!84.9
p!86.2

rlOO.2
p99.7

r!71.8
p!72.5

r!67.4
p!68.7

r!70.3
p!71.1

Percent change from previous quarter at annual rate (5)
1936

1937

I
II
III
IV

r6.6
rO.l
r-0.6
rO.O

r6.4
0.6
rl.7
r2.9

r-0.2
rO.6
r2.3
r2.9

r3.9
r2.9
r2.8
r4.0

r2.3
r4.2
rO.4
rl.3

r-2.6
r2.8
r3.5
r4.0

rlO.O
rl.3
r4.2
r-7.2

ANNUAL

rl.6

r3.2

rl.6

r3.9

rl.9

r2.2

r2.4

r2.3

I
II

rO.4
pi. 4

r3.8
p3.2

r3.4
pl.8

rl.l
p2.9

r-3.9
p-1.9

rO.8
pi. 5

r8.8
p3.2

r3.4
p2.1

rl.6
r2.3
r3.7 .
rO.O

Percent change from corresponding quarter of previous year
1936

1987

I
II
III
IV

r2.3
rl.9
rl.l
rl.5

r4.0
r3.3
r2.6
r2.9

rl.7
rl.4
rl.6
rl.4

r4.5
r4.1
r3.6
r3.4

rl.4
r2.5
rl.9
r2.0

r2.2
2.2
r2.5
rl.9

r3.2
r2.3
r2.2
rl.9

r2.6
r2.3
r2.4
rl.9

ANNUAL

rl.6

r3.2

rl.6

r3.9

rl.9

r2.2

r2.4

r2.3

I
II

r-0.1
pO.3

r2.2
p2.9

r2.3
p2.6

r2.7
p2.7

rO.5
p-1.1

r2.8
p2.4

rl.6
p2.1

r2.4
p2.3

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




August 3, 1987
Source: Bureau of Labor Statistics

-8-

Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor cost,
seasonally aljusted
Year arri
quarter

Output per
hour
of all persons

Output
(6)

Hours
of all
persons

Conpensation per
hour(l)

Real
compensation per
hour(2)

Unit
labor
cost

Indexes 1977=100
r!81.0
r!82.1
r!83.1
r!84.3

rlOO.3
rl01.2
rl01.2
rl01.2

r!41.9

r!27.2

r98.1
r97.5
r97.5
r97.9

r!28.8

r!25.9

r97.8

r!82.7

rlOO.9.

r!41.8

r!30.8
p!31.9

r!28.4
p!28.9

r98.1
p97.7

r!83.9
p!84.7

r99.6
p98.9

r!40.6
p!40.1

I
II
III
IV

r!27.6
r!28.3
r!29.4

r!25.2
r!25.1
r!26.1

r!29.9

ANNUAL

I
II

1936

1987

r!42.0

r!41.5
r!41.9

Percent change from previous quarter at annual rate(5)

r3.4

r-1.3
r-2.3
r-0.4
r2.0

rl.8
r2.5
r2.2
r2.7

rO.2
r3.8
r-0.2
rO.O

r-3.0
rO.2
r-1.3
rl.3

r3.7

r2.8

r-0.9

r3.3

fl.3

r-0.4

r3.0
p3.3

r3.8
pi. 7

rO.8
p-1.5

r-1.0
pi. 8

-6.0
p-2.9

r-3.9
p-1.4

I
II
III
IV

r4.9
r2.3
r3.6
rl.4

ANNUAL

I
II

1986

1987

r3.6

r-oa

r3.2

Percent change from correspond ing quarter of previous year
I
II
III
IV

r5.0
r3.4
3.3
r3.0

r3.7
r2.5
r2.4
r2.5

r-1.3
r-0.9
r-0.9
r-0.5

r4.4
r3.4
r2.9
2.3

rl.3
rl.8
rl.2
rO.9

r-0.5
rO.O
r-0.4
r-0.7

ANNUAL

r3.7

r2.8

r-0.9

r3.3

rl.3

r-0.4

I
II

r2.5
p2.8

r2.5
p3.0

rl.6
pi. 4

-0.7
p-2.3

r-1.0
p-1.3

1986

1987

See footnotes following table 6.
r=revise3
p-preliminary



rO.O
pO.2

August 3, 1987
Source: Bureau of Labor Statistics

Table 4. Durable manufacturing sector: Productivity/ hourly compensation, and unit labor cost,
seasonally adjusted
Year ard
quarter

Output per
hour
of all persons

Output
(6)

Hours
of all
persons

Compensation per
hour(l)

Real
compensation per
hour (2)

Unit
labor
cost

Indexes 1977=100
1936

1987

I
II
III
IV

r!35.3
r!35.9
r!37.5
r!38.4

r!33.7
r!33.1
r!34.1
r!35.4

r98.8
r98.0
r97.5
r97.8

r!79.9
rl80.8
rl81.6
r!83.1

r99.7
rlOO.5
rlOO.3
rlOO.5

rl32.9
r!33.1
r!32.0
r!32.3

ANNUAL

r!36.8

r!34.1

r98.0

r!81.4

rlOO.2

r!32.6

I
II

r!39.6
pl40.6

r!36.6
p!36.7

r97.8
p97.2

r!82.2
p!82.8

r98.7
p97.9

r!30.5
p!30.0

Percent change from previous quarter at annual rate{5)
1986

1987

IV

r7.0
rl.5
r5.0
r2.6

r4.4
-1.7
r3.2
3.8

r-2.4
r-3.2
r-1.7
rl.l

rl.2
rl.9
rl.7
r3.4

r-0.4
r3.3
r-0.7
rO.7

r-5.4
rO.4
r-3.1
rO.8

ANNUAL

r5.2

r3.2

r-1.8

r3.4

. 1.4

r-1.7

I
II

r3.6
p2.9

r3.6
pO.4

rO.O
p-2.4

r-1.9
pi. 4

r-6.8
p-3.4

r-5.3
p-1.4

I
II
III

Peroent change from correspond ing quarter of previous year

1986

IV

r7.1
r4.9
r4.6
r4.0

r5.0
3.0
r2.6
2.4

r-2.0
r-1.8
r-1.9
r-1.5

r4.9
r3.6
r2.8
r2.1

rl.8
r2.0
rl.l
rO.7

-2.0
r-1.2
r-1.7
r-1.9

ANNUAL

r5.2

r3.2

r-1.8

r3.4

1.4

r-1.7

I
II

r3.2
p3.5

2.2
p2,7

r-0.9
p-0.7

rl.3
pl.l

r-0.9
p-2.6

r-1.8
p-2.3

I
II

in

1987

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



August 3, 1987
Source: Bureau of Labor Statistics




-10-

Table 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

Compensation per
hour(l)

Real
oompensation per
hour(2)

Unit
labor
cost

Indexes 1977=100
1986

1987

I
II
III
IV

rll5.8
rl!6.9
rl!7.3
rl!7.1

rl!2.5
rl!3.3
rl!4.2
rl!4.9

r97.2
r96.9
r97.3
r98.1

r!82.7
r!84.3
r!85.8
r!86.5

rl01.2
r!02.4
r!02.7
r!02.4

r!57.8
r!57.7
r!58.4
r!59.3

ANNUAL

rl!6.8

rl!3.7

r97.4

r!84.8

r!02.1

r!58.3

I
II

rl!7.8
pi 19.0

rll6.1
pl!7.2

r98.6
p98.5

r!86.9
p!88.1

rl01.2
plOO.7

.

r!58.7
p!58.1

Percent change from previous quarter at annual rate(5)
1986

1987

I
II
III
IV

rl.7
r3.9
. rl.5
r-0.6

r2.3
r2.8
r3.1
r2.7

rO.5
r-1.0
rl.6
r3.3

r3.2
r3.6
r3.4
rl.5

rl.6
r5.0
rO.9
r-1.1

rl.4
r-0.2
rl.9
r2.1

ANNUAL

rl.5

rl.9

rO.5

r3.3

irl.3

rl.8

I
II

r2.1
p4.2

4.1
p3.9

rl.9
p-0.3

rO.7
p2.8

r-4.4
p-2.0

r-1.4
p-1.4

Percent change from corresponding quarter of previous year

1986

1987

I
II
III

rv

rl.5
rl.2
rl.4
rl.6

rl.3
rl.6
r2.0
r2.7

r-0.2
rO.4
rO.6
rl.l

r3.7
r3.2
r3.3
r2.9

rO.6
rl.6
rl.6
rl.6

r2.2
rl.9
rl.8
rl.3

ANNUAL

rl.5

rl.9

rO.5

r3.3

rl.3

rl.8

rl.7
pi. 8

r3.2
p3.5

rl.4
pi. 6

r2.3
p2.1

rO.l
p-1.6

rO.6
pO.3

I
II

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

August 3, 1987
Source: Bureau of Labor Statistics

Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor cost, unit profits,
ard prices, seasonally al juste!
Year
Employee Hourly
Real
Output
arrl
per all- Output hours oompensa- hourly
quarter employee
tion
corapen(1)
sation(2)
hour

Unit
labor
cost

Unit
nonlabor
cost(7)

Total
unit
cost
(8)

Unit Implicit
pro- price
fits deflator
(9)
(4)

Indexes 1977=100
1936

1987

I
II
III
IV

r!09.8
r!09.7
r!09.9
rllO.5

r!29.1
r!28.8
r!29.3
r!30.4

rll7.6
rl!7.4
rl!7.6
rllS.O

r!77.2
r!78.4
r!79.5
rlBl.O

r98.2
r99.1
r99.2
r99.3

r!61.5
r!62.6
r!63.2
r!63.3

r!80.7
rl80.6
r!84.2
r!83.2

r!66.3
r!67.2
r!68.5
r!68.7

r!29.7
r!29.5
r!30.6
r!27.7

r!61.9
r!62.7
r!64.0
r!63.8

ANNUAL

r!09.9

r!29.4

rl!7.7

r!78.9

r98.9

rl*2.8

r!82.2

r!67.7

r!29.3

r!63.1

I

r!09.7

r!30.9

rl!9.3

rl80.8

r98.0

r!64.8

r!84.1

r!69.7

r!32.2

r!65.2

Percent change from previous quarter at annual rate/ 5)

1986

1987

I
II
III
IV

r3.3
r-0.2
rO.9
r2.1

r4.4
r-0.9
rl.6
r3.4

rl.O
r-0.6
rO.7
rl.3

r3.5
r2.6
r2.5
r3.5

rl.8
r4.0
rO.O
rO.8

rO.l
r2.9
rl.5
rl.3

r3.0
r-0.2
r8.2
r-2.3

rO.9
r2.0
r3.3
rO.3

r3.0
r-0.5
r3.3
r-8.5

rl.l
rl.8
r3.3
r-0.5

.ANNUAL

rl.6

r2.6

rl.O

r3.5

rl.6

rl.9

r2.2

2.0

r-3.4

rl.5

I

r-2.9

rl.5

r4.6

r-0.5

r-5.5

r2.5

r2.2

r2.4

r!4.7

r3.5

Percent change from corresponding quarter of previous year
1986

1987

I
II
II £
IV

r2.6
rl.8
rO.7
rl.5

r4.1
r2.7
rl.5
r2.1

rl.4
rO.8
rO.8
rO.6

r4.3
r3.9
r3.3
r3.0

rl.2
r2.2
rl.6
rl.6

rl.6
r2.0
r2.6
rl.5

rl.8
rl.O
r3.8
r2.1

rl.7
1.7
2.9
rl.6

r-1.7
r-2.1
r-8,4
r-0.8

rl.3
rl.4
rl.7
rl.4

ANNUAL

rl.6

r2.6

rl.O

r3.5

rl.6

rl.9

r2.2

2.0

r-3.4

rl.5

I

rO.O

rl.4

rl.5

r2.0

r-0.2

r2.1

rl.9

r2.0

rl.9

r2.0

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




August 3, 1987
Source: Bureau of Labor Statistics

-12-

SOURCE: Output data from Bureau of Economic Analysis/ U.S. Department of
Commerce, and the Federal Reserve Board. Compensation and hours data Ercm the
Bureau of Labor Statistics, U.S. Department of Labor, and the Bureau of
Economic Analysis.
RELIABILITY: Productivity and cost measures are regularly revised as more
complete information becomes available. Preliminary results are published 30
days after the close of the reference period; revisions appear 30 days later,
and second revisions after an additional 60 days. In the business sector, the
probability is 0.95 that the third publication (second revision) of a quarterly
index of output per hour of all persons will differ Erom the preliminary value
by between -1.9 and +2.0 index points. This interval is based on the
performance of this measure between the first quarter of 1976 and the second
quarter of 1986
Footnotes, Tables 1-6
(1) Wages and salaries of the employees plus employers1 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) Unit nonlabor payments include profits, capital consumption allowances,
interest, rental income of persons, ard indirect taxes.
(4) Current dollar gross product divided by constant dollar gross product.
(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.
(6) Quarterly manufacturing output measures are based on the index of
industrial production prepared monthly by the Board of Governors of the
Federal Reserve adjusted by BLS to annual manufacturing output levels
(gross product originating) from the National Income and Product Accounts
prepared by the Bureau of Economic Analysis of the U.S. Department of
Commerce.
(7) Unit nonlabor cost includes capital consumption allowances, interest,
rental income of persons, and indirect taxes.
(8) Total unit cost is the sum of labor and nonlabor costs.
(9) Unit profits include corporate profits with inventory valuation ard capital
consumption adjustments.




-13-

Table 1. Business sector: Productivity, hourly compensation, unit labor cost, and prices, seasonally adjusted
? Real
Ye-ir ard

Output per
hour
of all persons

Output

Hours
of all
persons

Ccmpensation per
hour(l)

compensation per
hour(2)

Unit
labor
cost

Unit nonlabor payments{3)

Implicit
price
deflator ( 4 )

Indexes 1977=100,
19?- 4

r

IV

rlOS.l
105,6
105.5
r!05.9

WII.JAL

rl!9/7
r!20.8

111.4
rl!2.8
rll3.4
114.0

r!65.8
r!66.9
r!68*7
r!70.3

98.1
r97.8
r98,0
r98.1

rl57.8
rlSS.O
r!59.9
r!60.B

r!54.2
r!56.9
r!56,6
r!57.9

r!56.5
r!57.6
r!58.7
r!59.8

r!05.6

rl!9.2

rl!2.9

r!68.0

r98.0

rl59.1

r!56.5

r!58.2

I
II
III
IV

r!06.5
r!07.2
r!08.2
r!07.9

r!22.2
r!23.3
r!24.7
r!25.3

rl!4.7
115.0
115.2

r!72.4
r!74.6
r!77.0
r!79.3

r98.5
98.6
r99.4
r99.7

r!61.9
r!62.8
r!63.6
r!66.1

r!58.7
r!60.4
r!61.8
r!60.2

r!60.8
r!62.0
r!63.0
r!64.0

WMJAL

r!07.5

r!23.9

rl!5.2

r!75.9

r99.1

r!63.6

r!60.3

r!62.4

r7.3
r-0.8
r3.4

r3.4
r2.9
r2.8
r2.7

II

r. r r

1935

Percent change from previous quarter at annual rate(5)

1984

1985

I
11
III
IV

r5.3
r2.1
r-0,4
rl.5

r!2.9
r7.3
rl.9
r3.5

r7.3
r5.1
r2.3
r2.1

r5.6
r2.7
r4.4
3.8

0.3
r-1.3
rO.8
rO.4

rO.3
rO.6
r4.8
r2.3 '

ANNUAL

r2.5

r8.4

5.7

4.1

r-0.2

rl.5

r6.9

r3.3

I
II
III
IV

r2.2
r2.9
r3.7
r-1.0

r4.8
r3.8
r4.4

r2.5
rl.O
0.7
r3.2

r5.1
5.1
r5.7
r5.1

rl.7
rO.6
r3.3
rl.2

f2.8
r2.2
rl.9
r6.2

r2.0
r4,4
r3.5
r-4.0

r2.5
3.0
r2.5
r2.5

ANNUAL

rl.8

r4.0

r2.1

r4.7

rl.l

r2.8

r2.4

r2.7

.

Percent change from correspond ing quarter of previous year

1984

1985

I
II
III
IV

r3.1
r2.1
r2.5
r2.1

rlO.2
r9.1

6.9
6.8
r5.5
4.2

3.8
3.8
r4.5
r4.1

-0.7
-0.5
rO.3
rO.O

rO.6
rl.6
r2.0
r2.0

r9,4
r7.1
r6.3
r4.8

r3.5
3.5
r3.5
r3.0

ANNUAL

r2.5

r8.4

5.7

4.1

r-0.2

rl.5

r6.9

r3.3

3.0
2.0
rl.6
rl.8

r4.0
r4.6
r4.9
r5.3

rO.4
rO.9
rl.5
rl.7

r2.6
r3.0

rl*9

r4.4
r3.5
r4.1
r3.8

r2.9
r2.2
r3.3
rl.4

r2.7
r2.7
2.7
r2.6

rl.8

r4.0 /

r2.1

r4.7

rl.l

r2.4
r2.8
Source: Bureau or Laoor
August 3, 1987

r2.7

I
II
III
IV

ANNUAL

:

rlis

See fcotnotes following'table 6.
r=revised




r3.3

-uAppenHx Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor
Real
Year ard
Output per
Output
Hours
Coropensaocnipensahour
of all
tion per
tion per
of all persons
persons
hour(l)
hour(2)

cost, and prices, seasonally ad juste
Unit
labor
cost

Unit nonlabor payments(3)

Implicit
price
deflator(4)

Indexes 1977=100
198*1

r!04.*8

rl!9.3
rl!9.8
r!2Q.7

rl!2.4
rl!3.9
114. 5
115.2

165.6
r!66.8
r!68.6
r!70.2

r98.0
r97.7
97.9
r98.0

r!59.0
r!59.3
r!61.2
r!62.4

153.2
r!56.5
r!56.9
r!58.5

r!57.0
r!58.3
r!59.7
rl61.0.

ANNUAL

r!04,6

rl!9.2

114.0

r!67.8

r97.9

r!60.4

r!56.4

r 159.0

I
II
III
IV

r!05.2
r!05.7
r!06.4
r!05.9

r!22.0
r!234
r!24.3
r!24.9

rl!5.9
116.4
116.9
r!17.9

r!72.2
r!74.1
r!76.2
r!78.3

r98.4
98.3
r98.9
r99.2

r!63.6
r!64.7
r!65.7
r!68.3

rlS9.5
r!61.5
r!63.4
r!60.8

r!62.2
r!63.6
r!64.9
r!65.7

ANNUAL

r!05.8

r!23.6

rl!6,8

r!75.2

r98.7

r!65.6

rW1.3

r!64.1

J
II

r!04.1
r!04.7

IV

r. t r

1985

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

1985

I
II
Itl
IV

r3,4
r2.4
r-0.6
rl.O

rll.l
r7.6
rl.8
r3.1

r7.4
r5 f 2
r2,4

r5,5
r3.0
4.3
r3.9

r-1.0
0.7
rO.6

r2.1
rO.7
r4.9
r2.9

r2.1
t9.0
rO.9
r4.1

r2.1
r3.5
r3.5
r3.3

ANNUAL

r2.1

r8.3

6.0

r3.9

-0.3

rl.8

r5.5

r3.0

I
II
III
IV

rl.5
rl.7

r4.3

r-i*.6

r4*.l
r2.0

r2.8
rl.7
r3^6

r4.8
r4.5
r4.9
r4.9

rl.4
r-0.1
r2.5
rO.9

r3.2
2.7
r2.2
r6.6

r2.7
rS.O
r4.9
r-6.3

r3.0
r3.5
r3.2
r2.0

ANNUAL

rl.2

r3.6

r2.5

r4.4

rO.8

r3.2

r3.2

p3.2

Percent qhange from corresponding quarter of previous year
1984

1985

I
II
III
IV

r3.2
r2.0
rl.6
rl.5

rlO.7
r9.2
r7.5

7.3
7.1
r5.8
4.3

3.5
r3.7
4.3
r4.2

-0.9
r-0.6
0.1
rO.l

rO.3
rl.7
r2.6
r2.6

•8.3
r5.8
r3.8
r4.0

r2.9
r3.1
r3.0
r3.1

ANNUAL

r2.1

r8.3

6.0

r3.9

-0.3

rl.8

rS.5

r3.0

I
II
III
IV

rl.l
rO.9
rl.7
rl.O

r3*2
r3.8
r3.5

3.1
r2.2

r2.*4

r4.0
r4.4
r4.5
r4.8

rO.4
rO.6
rl.l
rl.2

r2.9
r3.4
r2.8
3.7

r4.1
r3.2
r4.2
1.5

r3.3
r3.3
r3.3
2.9

ANNUAL

rl.2

r3.6

r2.5

r4.4

rO.8

r3.2

r3.2

r3.2

See footnotes following table 6.
p=prel iminary




.

August 3, 1987
Source; Bureau of Labor Statistics

-15-

Apperdix Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor
seasonally adjusted
Real
Year and
Output per
Output
Hours
Compensaoompensaquarter
hour
(6)
of all
tion per
tion per
of all persons
persons
hour(l)
hour(2)

oost,
Unit
labor
cost

Indexes 1977=100
1984

1985

I
II
III
IV

r!16.2
r!17.1
rl!9.1
r!20.0

rl!4.6
r!16.8
rl!8.9
rl!9.6

r98.6
r99.8
r99.8
99.7

r!65.6
r!66.6
r!68.7
r!71.1

r97.9
r97.6
r97.9
r98.5

r!42.4
r!42.3
r!41.7
r!42.5

ANNUAL

rllS.l

rl!7.5

99.5

r!68.0

r98.0

r!42.2

I
II
III
IV

rl21.5
r!24.0
r!25.2
r!26.0

r!20.7
r!22.1
r!23.2
r!24.1

r99.4
98.5
r98.3
r98.4

r!73.3
r!76.1
r!78.0
r!80.2

r99.0
r99.5
r99.9
rlOO.2

r!42.7
r!42.0
r!42.1
r!43.0

ANNUAL

r!24.2

r!22.5

r98.7

r!76.9

r99.6

r!42.4

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

1985

I
II
III
IV

r8.9
r3.1
r6.9
r3.2

r!7.5
r7.9
r7.1
r2.7

r8.0
r4.6
rO.2
r-0.6

r5.0
r2.6
r5.1
r5.8

r-0.3
r-1.4
rl.4
r2.4

r-3.6
r-0.5
r-1.7
r2.5

ANNUAL

r5.5

r!2.2

6.4

r3.4

r-0.8

r-1.9

I
MI
•III
IV

r4.9
r8.5
r4.1
r2.6

r3.7
4.6
r3.5
r2.9

r-1.2
r-3.6
r-0.5
rO.4

r5.3
r6.7
r4.3
r5.1

rl.9
r2.0
rl.9
rl.l

rO.3
r-1.7
rO.2
r2.4

ANNUAL

r5.1

r4.3

r-0.8

r5.3

rl.6

rO.2

•
1984

1985

Percent change from corresponding quarter of previous year

I
, II
III
IV

r6.0
r5.6
r5.0
r5.5

r!5.8
r!4.0
rlO.8
r8.7

r9.3
r8.0
r5.6
r3.0

r2.2
r3.0
r3.9
r4.6

r-2.1
r-1.3
r-0.3
rO.5

r-3.5
r-2.5
r-1.0
r-0.8

ANNUAL

r5.5

r!2.2

6.4

r3.4

r-0.8

r-1.9

I
II
III
IV

r4.5
r5.9
r5.2
r5.0

r5.3
r4.5
r3.6
r3.7

0.8
r-1.3
r-1.5
r-1.2

r4.7
r5.7
r5.5
r5.3

rl.l
rl.9
r2.0
rl.7

rO.l
r-0.2
rO.3
rO.3

ANNUAL

r5.1

r4.3

r-0.8

r5.3

rl.6

rO.2

See footnotes following table 6.
r=revised




August 3, 1987
Source: Bureau of Labor Statistics

-16-

Appendix Table 4. Durable manufacturing sector: Productivity, hourly compensation, ard unit labor
cost, seasonally adjusted
Real
Hours
ConpensacompensaOutput per
Year and
Output
Unit
(6)
of all
tion per
tion per
hour
quarter
labor
of all persons
persons
hour(l)
hour(2)
cost
Indexes 1977=100
1984

1985

I
II
III
IV

rll7.1
rl!9.1
r!22.2
r!23.8

r!15.6
rl!9.5
r!23.3
r!25.2

r98.8
rlOO.3
rlOO.9
rlOl.l

r!64.3
r!65.2
r!66.9
r!69.1

r97.2
r96.7
r96.9
r97.3

r!40.3
r!38.6
r!36.6
r!36.5

ANNUAL

r!20.6

r!20.9

100.2

r!66.4

r97.1

r!38.0

I
II
III
IV

r!26.3
r!29.6
r!31.5
r!33.1

r!27.2
r!29.2
r!30.7
r!32.2

rlOO.7
99.8
r99.4
r99.4

r!71.4
r!74.4
r!76.6
r!79.4

r97.9
r98.5
r99.2
r99.8

r!35.7
r!34.6
r!34.3
r!34.8

ANNUAL

r!30.1

r!29.9

r99.8

r!75.4

r98.8

r!34.9

Percent change f rcm previous quarter at annual rate(5)
1984

1985

I
II
III
IV

r!4.7
r7.3
rlO.6
r5.5

r27.0
r!4.1
r!3.3
r6.4

rlO.7
r6.3
r2.4
rO.9

r5.1
r2.1
r4.3
r5.3

r-0.2
r-1.9
rO.7
rl.9

r-8.4
r-4.9
r-5.7
r-0.1

ANNUAL

r9.8

r!9.6

8.9

r3.1

-1.1

r-6.1

r6.8
6.4
r4.6
4.8

r-1.5.
r-3.8
r-1.5
r-0.1

r5.7
r7.1
r5.1
r6.4

r2.3
r2.5
r2.7
r2.4

r-2.4
r-3.1
r-1.0
rl.4

r7.4

r-0.4

r5.4

rl.8

r-2.3

I
II
III
IV
ANNUAL

r8.4
rlO.6 •
rt.l
r4.9
r7.9

Percent change from corresponding quarter of previous year
1984

1985

I
II
III
IV

rlO.3
rlO.2
r9.4
r9.5

r23.5
r22.2
r!8.5
r!4.9

r!2.0
rlO.8
r8.3
r5.0

rl.9
r2.6
r3.5
r4.2

r-2.5
r-1.6
r-0.7
rO.l

r-7.7
r-6.9
r-5.5
r-4.8

ANNUAL

r9.8

r!9.6

8.9

r3.1

-1.1

r-6.1

I
II
III
IV

r7.9
r8.7
r7.6
r7.5

rlO.l
r8.2
r6.0
5.6

2.0
r-0.5
r-1.5
r-1.7

r4.4
r5.6
r5.8
r6.1

rO.7
rl.8
r2.4
r2.5

r-3.3
r-2.9
r-1.7
r-1.3

ANNUAL

r7.9

r7.4

r-0.4

r5.4

rl.8

r-2.3

See footnotes following table 6.
r^revised




August 3, 1987
Source: Bureau of Labor Statistics

-17-

Year and
quarter

Output per
hour
of all persons

Output
(6)

Hours
of all
persons

Compensation per
hour(l)

corapensation per
hour(2)

Unit
labor
cost

Indexes 1977=100
1984

1985

I
II
III
IV

rllS.O
rl!4.1
rl!4.3
rl!4.2

rl!3.2
rl!2.9
rl!2.3
rill. 4

r98.5
99.0
r98.2
97.6

r!67.7
r!69.0
r!71.5
r!74.1

r99.2
r99.0
r99.5
rlOO.2

r!45.9
r!48.2
rlSO.O
r!52.5

ANNUAL

rl!4.4

rl!2.4

98.3

r!70.6

r99.5

r!49.1

I
II
III
IV

rl!4.0
rl!5.4
rl!5.6
rl!5.3

rlll.O
rill. 5
rill. 9
rill. 9

r97.4
r96.6
r96.8
r97.1

r!76.1
r!78.6
rlSO.O
rl81.2

rlOO.5
rlOO.8
rlOl.0
100.8

r!54.4
r!54.7
r!55.6
r!57.2

ANNUAL

rllS.l

rlll.6

r97.0

r!78.9

rlOO.8

r!55.5

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

1985

I
II
III
IV

rO.7
r-3.1
rO.9
r-0.5

r4.8
r-1.0
r-2.2
r-3.2

r4.0
r2.2
r-3.1
r-2.7

r4.2
r3.2
r5.9
r6.2

r-1.0
r-0.8
r2.2
r2.8

r3.4
r6.5
r4.9
r6.8

ANNUAL

r-0.7

r2.1

2.8

r3.5

r-0.7

r4.2

I
II
III
IV

r-0.5
r5.1
rO.7
r-1.3

r-1.2
rl.5
rl.7
r-0.1

r-0.7
r-3.4
rO.9
rl.2

r4.6
r5.9
r3.1
r2.9

rl.2
rl.2
rO.8
r-1.0

r5.2
rO.8
r2.4
r4.2

ANNUAL

rO.6

r-0.8

r-1.4

r4.9

rl.3

4.3

Percent change from corresponding quarter of previous year
1984

1985

I
II
III
IV

rO.2
r-0.8
r-1.5
r-0.5

r5.7
r3.2
rO.2
r-0.4

r5.6
4.0
rl.7
0.1

r2.3
r2.9
r4.1
r4.9

r-2.1
r-1.3
r-0.1
rO.8

r2.1
r3.8
r5.7
r5.4

ANNUAL

r-0.7

r2.1

2.8

r3.5

r-0.7

r4.2

I
II
III
IV

r-0.8
rl.2
rl.2
rl.O

r-1.9
r-1.3
r-0.3
rO.4

r-1.1
r-2.5
r-1.5
r-0.5

r5.0
r5.7
r5.0
r4.1

rl.3
rl.9
1.5
rO.6

r5.9
r4.4
r3.7
r3.1

ANNUAL

rO.6

r-0.8

r-1.4

r4.9

rl.3

4.3

See footnotes following table 6.
r=revised




August 3, 1987
Source: Bureau of Labor Statistics

-18-

Appendix Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor oost, unit
profits, and prices, seasonally adjusted
Output
Year
per allard
quarter employee
hour

Output

Real
Employee Hourly
hours oonpensa- hourly
tion
oonpen(1)
sation(2)

Unit
labor
oost

Unit
nonlabor
oost(7)

Total
unit
oost
(8)

Unit Implicit
pro- price
fits deflator
(9)
(4)

Indexes 1977=100
1984

1985

I
II
III
IV

r!05.6
rl06.1
r!05.8
r!06.4

r!18.4
r!20.7
r!21.2
r!22.7

rl!2.1
113.7
114.6
rl!5.3

r!63.7
164.8
r!66.5
rl68.1

96.8
96.5
96.7
r96.8

r!55.0
r!55.3
r!57.4
r!58.0

r!70.1
r!72.1
r!75.4
r!76.8

r!58.8
r!59.5
r!61.9
r!62.8

r!35.9
r!42.4
r!33.7
r!34.2

r!56.1
157.5
r!58.6
r!59.4

ANNUAL

r!06.0

r!20.7

rl!3.9

r!65.8

r96.7

r!56.5

r!73.6

r!60.8

r!36.5

r!57.9

I
II
III
IV

r!07.0
r!07.7
r!09.2
r!08,9

r!24.0
r!25.4
r!27.4
r!27.7

rl!5.9
rl!6.4
rl!6.6
rl!7.3

169.9
r!71.8
r!73.8
r!75.7

97.0
r97.0
r97.6
r97.7

r!58.9
r!59.5
r!59.1
r!61.4

r!77.5
r!78.7
r!77.5
r!79.4

r!63.6
r!64.3
r!63.7
r!66.0

r!32.0
r!32.2
r!42.5
r!28.7

r!59.8
r!60.5
r!61.2
r!61.5

ANNUAL

r!08.2

r!26.1

rl!6.5

r!72.8

r97.4

r!59.7

r!78.3

r!64.4

r!33.9

r!60.7

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

1985

I
II
III
IV

r4.3
r2.0
r-1.2
r2.3

r!2.1
r7.9
rl,9
r4.9

r7.5
r5.8
r3.2
r2.6

4.9
r2.8
r4.2
r4.0

-0.4
r-1.2
rO.5
rO.6

rO.6
0.7
r5.5
rl.6

r-3.0
r4.8
7.9
r3.4

r-0.4
rl.8
r6.2
r2.1

r24.8
r20.7
r-22.4
rl.6

rl.9
r3.7
r2.7
r2.1

ANNUAL

r2.4

r9.1

r6.6

3.7

-0.5

rl.3

r-0.4

rO.8-

r23.1

r2.8

I
II
III
IV

r2.2
r2.8
r5.7
r-1.3

r4.2
r4.7
r6.5
rO.9

r2.0
rl.8
rO.7
r2.2

r4.4
r4.4
r4.7
r4.6

rl.O
r-0.2
r2.3
rO.7

r2.2
rl.5
r-1.0
r6.0

rl.5
r2.8
r-2.7
r4.2

r2.0
rl.8
r-1.4
5.5

r-6.5
rO.9
r34.7
r-33.4

rl.l
rl.8
rl.8
rO.7

ANNUAL

r2.1

r4.4

r2.3

r4.2

rO.6

r2.1

r2.7

r2.2

r-1.9

rl.8

Percent change from corresponding quarter of previous year
1984

1985

I
II
III
IV

r3.3
r2.5
rl.8
rl.8

rll.5
rlO.3
r8.3
r6.6

r7.9
r7.6
6.4
r4.7

r3.2
3.5
r4.1
r4.0

-1.3
-0.8
-0.1
r-0.1

rK).2
rl.O
r2.3
r2.1

r-3.9
r-1.6
rO.6
r3.2

r-1.2
rO.3
rl.8
r2.4

r56.7
r32.3
r!2.3
r4.4

r2.8
3.0
r2.8
r2.6

ANNUAL

r2.4

r9.1

r6.6

3.7

-0.5

rl.3

r-0.4

rO.8

r23.1

r2.8

I
II
III
IV

rl.3
rl.5
r3.3
r2.3

r4.7
r3.9
r5.1
r4.1

r3.4
r2.4
rl.8
rl.7

3.8
r4.2
r4.4
r4.5

0.2
rO.5
rO.9
rl.O

r2.5
r2.7
rl.l
r2.1

r4.4
3.9
rl.2
rl.4

r3.0
r3.0
rl.l
rl.9

r-2.9
r-7.1
r6.6
r-4.1

r2.4
rl.9
rl.7
rl.3

ANNUAL

r2.1

r4.4

r2.3

r4.2

rO.6

r2.1

r2.7

r2.2

r-1.9

rl.8

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




August 3, 1987
Source: Bureau of Labor Statistics