The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
News Bureau of Labor Statistics United States Department of Labor Washington, D.C. 20212 Historical, technical information: (202) 523-9261 Current data : 1202) 523-1221-or 1208 Media contact: (202) 523^-1913 USDL 91-384 Wire embargo until 10:00 AM EDT Tuesday, August 6, 1991 PRODUCTIVITY AMD COSTS Second Quarter 1991 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 1991. The preliminary seasonally adjusted annual rates of productivity change in the second quarter were: 1.6 percent in the business sector, 1.9 percent in the nonfarm business sector, 3.6 percent in manufacturing, 3.8 percent in durable goods manufacturing, and 3.3 percent in nondurable goods manufacturing. Productivity advanced moderately in business and nonfarm business as output rose while hours decreased. In manufacturing, however, a more rapid productivity increase occurred as output increased more and hours declined more than in the business and nonfarm business sectors. Second-quarter measures are summarized in table A and appear in detail in tables 1 through 5. Business Productivity increased at a 1.6 percent annual rate during the second quarter of 1991 in the business sector, as output rose 1.2 percent and hours of all persons engaged in the sector declined 0.5 percent (seasonally adjusted annual rates). Output increased for the first time since the third quarter of 1990, while hours declined for the fifth quarter in succession. Employment fell 1.2 percent, and average weekly hours rose 0.8 percent for the first lengthening of the workweek since the third quarter of 1989. During the first quarter of 1991, productivity had been unchanged (table 1). NOTE: The productivity and cost measures in this release reflect regular benchmark revisions to employment and average weekly hours. New seasonal adjustment factors also have been computed, beginning in 1986. See Revised measures section (page 4). Table A. Productivity and costs: Second-quarter 1991 measures (Seasonally adjusted annual rates) Sector Productivity Output Hours Hourly coropensation Real hourly compensation Unit labor costs Percent change from preceding quarter Business Nonfarm business Manufacturing Durable Nondurable 1.6 1.9 1.2 1.3 3.6 3.8 1.6 2.2 3.3 0.8 -0.5 -0.5 -2.0 -1.6 -2.5 4.4 4.5 6.4 6.5 6.0 2.3 2.3 4.2 4.4 3.8 2.7 2.6 2.6 2.7 2.6 Percent change from same quarter a year ago Business Nonfarm business Manufacturing Durable Nondurable 0.3 0.4 1.4 1.5 1.6 -1.6 -1.7 -3.6 -5.1 -1.1 -1.9 -2.1 -4.9 -6.5 -2.7 4.2 4.4 4.4 4.7 4.3 -0.6 -0.5 -0.4 -0.2 -0.5 3.9 3.9 3.0 3.1 2.7 Hourly compensation increased at a 4.4 percent annual rate during the second quarter of 1991, compared with a 4.0 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 2.7 percent annual rate during the second quarter, compared with a 4.1 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), increased at a 2.3 percent annual rate during the second quarter, the largest gain in this series since the fourth quarter of 1987 (when it rose 3.7 percent). During the first quarter of 1991, it rose 0.5 percent. The implicit price deflator for business output, which reflects changes in unit labor costs and unit nonlabor payments, increased 4.3 percent in the second quarter, compared with a 4.6 percent rise in the first quarter. Nonfann business Productivity increased 1.9 percent in the nonfarm business sector, as output rose 1.3 percent and hours of all persons—employees, proprietors, and unpaid family workers—declined 0.5 percent. During the first quarter of 1991, productivity had been unchanged in this sector (table 2). As in the more comprehensive business sector, the second-quarter increase in output followed Z quarters in which output declined, and hours have shown no increase in 5 quarters (table 2). Hourly compensation increased 4.5 percent in the second quarter, or 2.3 percent when the increase in the CPI-U was taken into account. During the first quarter, the comparable changes were 4.2 percent and 0.7 percent, respectively. Unit labor costs increased 2.6 percent during the second quarter, compared with a 4.2 percent rise during the preceding period. The implicit price deflator for nonfarm business output rose 3.8 percent in the second quarter, compared with a 4.5 percent increase a quarter earlier. Manufacturing Productivity increased at a 3.6 percent seasonally adjusted annual rate in manufacturing in the second quarter of 1991, as output increased 1.6 percent and hours of all persons fell 2.0 percent. The increase in output came after 2 quarters of large declines. Productivity increased more rapidly among durable goods than nondurable goods manufacturers (tables 4, 5). During the first quarter, productivity for all of manufacturing had decreased at a 1.8 percent rate. Hourly compensation of all manufacturing workers increased 6.4- percent during the second quarter, compared with a 2.6 percent increase during the first quarter. Real hourly compensation rose 4.2 percent in the second quarter when the increase in consumer prices was taken into account. This increase was the largest in real hourly compensation since the second quarter of 1986 (when it rose 4.8 percent). During the first quarter, this measure fell at a 0.9 percent annual rate. Unit labor costs increased at a 2.6 percent annual rate in the second quarter, compared with a 4.5 percent increase during the first quarter of 1991. Table B. Nonfinancial corporations: productivity and related measures (Percent change) Measure Productivity Output Hours Previous Current -0.4 -1.1 -5.6 -5.5 -6.0 -6.5 Previous and current first-quarter Hourly compensation 3.9 3.8 Real hourly compensation 0.3 0.2 Unit labor costs Unit profits Implicit price deflator 4.3 4.9 -0.5 -6.8 5.9 5.9 Revised measures Tables B and C compare previous and current productivity and cost measures for the first quarter of 1991. The measures for nonfinancial corporations (table B) show a greater decline in productivity than had been previously reported on June 5, mainly reflecting slower output growth. Table C, which contains measures for business, nonfarm business, and manufacturing, also reflects changes in first-quarter movements in output and hours which lower productivity. The productivity and cost measures in this news release are based ori the latest measures of output and labor input available. Regular benchmark revisions to employment measures and a recomputation of monthly seasonal adjustment factors affected data from 1986 forward. The revisions were larger for 1989 and 1990 than for other years. The revised measures show business productivity declined 0.4 percent in both 1989 and 1990; previously, the declines were reported as 0.5 percent and 0.7 percent, respectively. See appendix tables 1-6 for quarterly measures. Printed historical tables containing new quarterly values are available on request from the U.S. Bureau of Labor Statistics, Office of Productivity and Technology, Washington, D.C. 20212, or telephone (202) 523-9261. Complete historical series of productivity and cost measures also are available on the BLS Major Sector Labor and Mult if act or Productivity Diskette, formatted for use on IBM-compatible microcomputers using LOTUS 12-3 for $38, prepaid. To order, send a check or money order payable to the Bureau of Labor Statistics to: BLS Data Diskettes, Room 2115, 441 G Street NW, Washington, D.C. 20212 or call (202) 523-7827. Please specify "Major Sector Labor and Multifactor Productivity Diskette," disk size (3.5" or 5.25"), and format (LOTUS 1-2-3 or ASCII). Table C. Previous and revised productivity and related measures, first quarter 1991 (Quarterly percent change at seasonally adjusted annual rate) Sector Business: Previous Revised Productivity 0.1 0.0 Nonf arm business : 0.3 Previous 0.0 Revised Manufacturing: Previous Revised -1.2 -1,8 Hourly compensation Real hourly compensation Unit labor costs Output Hours -4.5 -4.7 -4.6 -4.7 3.7 4.0 0.2 0.5 3.7 4.1 -4.6 -4,8 -4.9 -4.9 4.0 4^2 0.5 0.7 3.7 4.2 -10.9 -10.8 -9.9 -9.1 3.5 2.6 0.0 -0.9 4.8 4.5 Next release date The next release of productivity and cost measures is scheduled for 10:00 AM EDT, Thursday, September 5, 1991. Second-quarter measures for nonfinancial corporations will be released at that time. LABOR NEWS at your fingertips You can now get the text and text tables from this and other U.S. Department of Labor news releases quickly and easily through LABOR NEWS a free electronic bulletin board available to anyone with a computerr a modem, and communications software. To register directly, load the following communication parameters into your computer: PHONE number: BAUD speed : PARITY : DATA bits STOP bit : (202) 523-4784 1200 or 2400 none 8 1 After you have made a connection to LABOR NEWS, follow the registration prompts. Users must pay any toll for long-distance calls. For more information, call (202) 523-7343, Mon.-Fri., 9:00 a.m.-4:00 p.m. (EST). TECHNICAL NOTES Labor Input: The primary source of hours and employment data is the BLS Current Employment Statistics <CES) program, which provides monthly survey data on total employment and average weekly hours of production and nonsupervisory workers in nonagricultural establishments. Jobs rather than persons are counted. Weekly hours are adjusted to the hours at work definition using the BLS Hours at Work survey, conducted for this purpose. Data from the BLS Current Population Survey (CPS) are used for farm labor; in the nonfarm sector, the National Income and Product Accounts (NIPA) prepared by the Bureau of Economic Analysis of the U.S. Department of Commerce and the CPS are used to measure labor input for government enterprises, proprietors, unpaid family workers, and paid employees of private households. Output: Business sector output is equal to gross national product (GNP) 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 owner-occupied dwellings, and the statistical discrepancy in computing the NIPA. Corresponding exclusions are also made in labor inputs. Business output was about 81 percent of GNP in 1990. Nonfarm business, which also excludes farming, was about 79 percent of GNP in 1990. Total manufacturing measures are computed by summing series prepared for the durable and nondurable goods sectors. Durables include the following 2digit 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. Nondurables include: Textile mill products, apparel products, leather and leather products, printing and publishing, chemicals and chemical products, petroleum products, rubber and plastic products, food, and tobacco products. Manufacturing accounted for about 23 percent of GNP in 1990. Nonfinancial corporate output is equal to GNP 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 owner-occupied dwellings, unincorporated businesses, the output of corporations engaged in banking, finance, stock and commodity trading, and credit and insurance agencies, and the statistical discrepancy in computing the NIPA. Nonfinancial corporations accounted for about 59 percent of GNP in 1990. PRODUCTIVITY: These productivity measures describe the relationship between real output and the labor time involved in its production. They shou the changes from period to period in the amount of goods and services produced per hour. Although these measures relate output to hours at work 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; managerial skill; and the characteristics and effort of the work force. Table 1. Business sector: Productivity, hourly compensation, unit labor cost, and prices, seasonally adjusted Real Implicit compensaUnit CompensaUnit nonHours Output Year Output per tion per labor labor pay- price tion per of all and hour of deflator (4) ments (3) hour (2) cost hour (1) persons quarter all persons Indexes 1982*100 1990 I II III IV rl!2.0 rl!2.4 rl!2.7 rl!2.3 136,0 136,4 136.5 135,4 r!21.3 r!21.3 r!21.2 r!20.5 r!35.7 r-137.7 r!39.4 r!40.6 r!02.2 r!02.7 r!02,3 rl01.4 121.1 122.5 r!23.7 r!25.2 135.5 137.0 r!37.5 r!36,5 125.8 127.2 128.2 128.8 ANNUAL r!12.4 136.1 r!21.1 r!38.4 r!02.2 123.1 r!3€.6 127.5 r!26.4 127.3 r!36. 4 140.9 130.3 131.7 r!33.7 134.1 rl!9.1 118.9 r!42.0 143.5 rlOl.5 102.1 1991 I II rl!2.3 112.8 1990 I II III IV r-0.7 rl.4 0.9 -1.2 1.4 1.2 0.5 -3.4 r2.1 r-0.2 -0.4 r-2.1 r4.6 r6.1 r-5.0 r3.3 r-2.6 r2.1 r-1.7 r-3.4 r5.3 4.7 r4.1 r4.6 r3.3 4.5 rl,7 r-3.0 4.6 4.6 3.2 2.0 ANNUAL r-0.4 0.2 rO.6 r4.0 r-1.3 r4.4 r2.6 3.8 I II rO.O 1.6 r-4.7 1.2 r-4.7 -0.5 r4.0 4.4 rO.5 2.3 r4.1 2.7 r5.7 7.2 r4.6 4.3 Percent change from previous quarter at annual rate (5) 1991 Percent change from corresponding quarter of previous year 1990 1991 I II III IV r-0.9 r-0.6 r-0.1 rO.l 0.3 0.3 0.3 -0.1 rl.l rl.O rO.4 r-0.2 r3.0 r3.7 r4.5 r4.8 r-2.1 r-0.8 r-0.9 r-1.4 3.8 4.4 4.6 r4.7 r3.5 r2.7 r2.8 rl.6 3.7 3.8 4.0 3.6 ANNUAL r-0.4 0.2 rO.6 r4.0 r-1.3 r4.4 r2.€ 3.8 I II rO.2 0.3 -1.6 -1.6 r-1.9 -1.9 r4,6 4.2 r-0.7 -0.6 r4.4 3.9 r2.2 2.9 3.6 3.5 See footnotes following table 6. r-revised August 6, 1991 Source: Bureau of Labor Statistics Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor seasonally adjusted Real CompensacompensaUnit Output Hours Year Output per tion per labor tion per of all and hour of hour <2) cost hour (1) persons quarter all persons cost, and prices, Unit nonlabor payments (3) Implicit price deflator <4) Indexes 1982-100 1990 1991 I II III IV r 111.0 rill. 3 rill. 5 rill. 2 136.8 137.2 137.4 136.1 r!23.3 r!23.3 r!23.2 r!22.4 r!34.6 r!36.6 r!38.2 r!39.5 rl01.3 rl01.8 rl01.4 rlOO.6 121.3 122.7 r!24.0 r!25.4 135.7 r!37.4 r!38.0 r!37.5 125.8 127.3 128.4 129.2 ANNUAL rill. 2 136.9 r!23.1 r!37.2 rl01.3 r!23.4 r!37.1 127.7 I II rill. 2 111.8 134.5 134.9 r!20.9 120.7 r!40.9 142.5 rlOO.8 101.4 r!26.7 127.5 r!39.3 141.4 130.7 131.9 Percent change from previous quarter at annual rate (5) 199Q 1991 I II III IV r-1.1 rl.2 0.6 r-0.8 1.4 1.2 0.4 -3.6 r2.6 rO.O r-0.1 -2.8 r4.0 r5.9 r5.0 r3.7 -3.2 r2.0 r-1.8 r-3.0 ANNUAL r-0.6 0.2 rO.7 r3.9 I II rO.O 1.9 r-4.8 1.3 -4.9 -0.5 r4.2 4.5 r5.2 4.7 r4.4 r4.6 rl.2 r5.1 rl.9 r-1,5 r-1.5 4.4 r2.5 3.8 rO.7 2.3 r4.2 2.6 r5.2 6.3 r4.5 3.8 3.8 4.8 3.6 2.5 Percent change from corresponding quarter of previous year 1990 1991 I II III IV r-1.0 r-0.7 r-0.4 r-0.1 0.3 0.3 0.2 -0.1 rl.3 rl.O rO.6 r-0.1 r2.8 r3.7 r4.4 r4.6 r-2.3 r-0.9 r-1.1 r-1.5 r3.8 4.4 4.8 4.7 r3.5 r2.5 r2.5 1.7 3.7 3.8 4.0 3.7 ANNUAL r-0.6 0.2 rO.7 r3.9 r-1.5 4.4 r2.5 3.8 I II rO.2 0.4 -1.7 -1.7 r-2.0 -2.1 r4.7 4.4 r-0.6 -0.5 r4.5 3.9 r2,6 2.9 r3.8 3.6 See footnotes following table 6, r«revised August 6, 1991 Source: Bureau of Labor Statistics Table 3. Manufacturing sector: Productivity/ hourly compensation, and unit labor cost, seasonally adjusted Year and quarter Output per hour of all persons Hours of all persons Output (6) Compensation per hour(l) Real compensatlon per hour(2) Unit labor cost Indexes 1982-100 1990 1991 I II III IV r!34.7 r!36.0 rl38.0 r!37.2 145.9 147.5 148.8 145.7 T108.4 rl08.5 r!07,8 r!06.2 rl29.3 r!31.0 132.5 r!33.8 r97.3 r97.7 97.2 r96.5 96.0 r96.3 96.1 97.5 ANNUAL r!36.6 147.0 r!07.6 r 13 1.8 r97.3 96.5 I II r 136.6 137.8 r 14 1.6 142.2 r!03.6 ••;'-.' 103.1 r!34.6 136.7 r96.3 97.2 98.6 99.2 r-6.0 rl.3 r5.3 r4.8 r3.7 r-5.7 rl.4 r-1.9 r-3.0 -2.5 rl.5 r-1.1 r6.0 r3.2 r-2.0 0.7 r2.6 6.4 r-0.9 4.2 r4.5 2.6 r2.2 r3.1 3.3 r3.8 r-2.9 r-1.4 r-2.2 r-2.3 1.0 1,4 -0.4 0.9 Percent change from previous quarter at annual rate (5) 1990 1991 r-2.0 rO.5 I II III IV r3.9 r3.8 r6.1 r-2.2 1.8 4.3 3.5 -8.1 ANNUAL r2.5 0.4 r-2.0 I II r-1.8 3.6 r-10.8 1.6 r-9.1 -2.0 .' ; r-2.4 ' ••'- ."• : Percent change from corresponding quarter of previous year 1990 1991 I II III IV rl.2 rl.6 r3.7 r2.9 -0.8 0,2 1.9 0.3 ANNUAL r2.5 0.4 r-2.0 r3.2 r-2.0 0.7 I II rl.4 1.4 -3.0 -3.6 ••*tf^:3^ -4.9 r4.1 4.4 r-1.1 -0.4 2.7 3.0 See footnotes following table 6. r*revised r-1.9 r-1.4 -1.8 r-2.5 ; August 6, 1991 Source: Bureau of Labor Statistics 10 Table 4. Durable 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 (1) Real compensation per hour (2) Unit labor cost Indexes 1982-100 1990 1991 I II III IV r!47.3 r!49.9 r!53.0 rl51.4 159.7 162.6' 164.3 159.1 108.5 r!08.4 r!07.4 rlOS.l 128.1 r!29.8 r!31.5 r!32.8 r96.5 r96.8 r96.5 r95.7 87.0 86.5 86.0 87.7 ANNUAL rl50.6 161.4 r!07.2 r!30.7 r96.5 86.8 I II rl50.8 152.2 r!53.5 154.3 101.8 101.4 r!33.7 135.8 r95.6 96.6 r88.7 89.2 Percent change from previous quarter at annual rate (5) 1990 1991 I II III IV r4.3 r7.4 r8.4 r-4.1 1.6 7.3 4.3 -12.1 r-2.6 r-0.1 r-3.8 r-8.3 rO.9 r5.3 r5.6 r3.8 r-6.0 rl.3 r-1.2 r-3.0 r-3.3 -2.0 r-2.6 r8. 2 ANNUAL r3.4 0.3 r-3.0 r3.3 r-2.0 -0.1 I II r-1.6 3.8 r-13.3 2.2 r-11.9 -1.6 r2.8 6.5 r-0.7 4.4 r4.5 2.7 Percent change from corresponding quarter of previous year 1990 1991 I II III IV r2.1 r2.5 r4.7 3.9 -1.2 0.3 2.0 0.0 r-3.2 r-2.2 r-2.5 -3.8 r2.3 r3.2 r3.2 3,9 r-2.7 r-1.4 r-2.2 r-2.3 0.2 0.7 -1.4 0.0 ANNUAL r3.4 0.3 r-3.0 r3.3 r-2.0 -0.1 I II 2.4 1.5 r-3.9 -5.1 r-6.1 -6.5 4.4 4.7 r-0.9 -0.2 rl.9 3.1 See footnotes following table 6. r-revised August 6, 1991 Source: Bureau of Labor Statistics 11 Table 5. Nondurable manufacturing sector: Productivity, hourly compensation, and unit labor cost, seasonally adjusted Year and quarter Output per hour of all persons Hours of all persons Output <6) Compensation per hour(l) Real compensation per hour (2) Unit labor cost Indexes 1982-100 1990 1991 I II III IV rl!7.9 rl!7.4 rllS.l rll8.7 127.6 127.4 128.0 127.8 r!08.2 rl08.5 r!08.4 r!07.7 r!31.3 r!33.1 r!34.4 r!35.8 r98.8 r99.2 r98.6 r97.9 111.3 rl!3.4 113.8 rl!4.4 ANNUAL rllS.l 127.7 rlOS.l r!33.8 r98.8 rl!3.2 I II rll8.2 119.2 125.7 125.9 r!06.3 105.6 rl36.8 138.8 r97.8 98.7 115.7 116.4 Percent change from previous quarter at annual rate (5) 1990 1991 I II III IV r3.4 r-1.8 r2.6 rl.9 2.3 -0.6 2.1 -0.9 r-1.1 rl.3 r-0 .4 r-2.7 r2.1 r5.6 r4.0 r4.2 r-4.9 rl.6 r-2.7 r-2.5 r-1.2 r7.6 rl.4 r2.3 ANNUAL rl.2 0.6 r-0. 6 r3.4 r-1.9 2.2 I II r-1.4 3.3 -6.4 0.8 r-5.1 -2.5 r3.0 6.0 r-0. 5 3.8 r4.4 2.6 Percent change from corresponding 1990 quarter of previous year I II III IV rO.O rO.4 r2.3 rl.5 0.0 0.2 1. 6 .0.7 rO.-O r-0 .2 r-0 .7 r-0. 7 r2.2 r3.1 r-3.5 r4.0 r-2.8 r-1.4 r-1.9 r-2.2 2.2 2.7 1.2 2.5 ANNUAL rl.2 0.6 r-0. 6 r3.4 r-1.9 2.2 I II rO.3 1.6 -1.5 -1.1 r-1.8 -2.7 r4.2 4.3 r-1.0 -0.5 3.9 2.7 1991 See footnotes following table 6. r«revised August 6, 1991 Source: Bureau of Labor Statistics 12 Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor cost, unit profits, and prices, seasonally adjusted Year and quarter Output per allemployee hour Output Employee Hourly Real hours compensa- hourly tion compen(1) sat ion (2) Unit labor cost Unit nonlabor cost (7) Total unit cost (8) Unit profits (9) Implicit price deflator (4) Indexes 1982-100 1990 1991 I II III IV rl!4.0 rl!4.8 rl!4.6 rl!4.6 140.5 141.4 141.1 139.6 r!23.2 r!23.2 r!23.1 r!21.8 r!31.2 r!33.7 r!35.2 r!36.4 r98.8 r99.7 r99.2 r98.4 115.1 116.5 118.0 119.0 112.4 112.6 114.8 117.3 114.3 115.4 117.1 118.6 142.9 149.1 138.6 127.5 116.1 117.5 118.5 119.1 ANNUAL rl!4.6 140.6 r!22.8 r!34.2 r99.1 117.1 114.3 116.3 139.5 117.8 I rl!4.3 r!37.3 r!20.1 C137.7 r98.4 r!20.4 r!20.8 r!20.5 r!25.3 120.8 Percent change from previous quarter at Annual rate (5) 1990 1991 I II III 1.8 2.8 -0.8 -4.1 rO.O r-0.1 r-4.3 r7.6 r4.8 r3.6 -4.3 r3.6 r-2.0 r-3.1 4.3 4.9 5.5 3.4 3.3 0.5 8.3 9.1 4.0 3.7 6.3 5.0 18.6 -25.3 -28.4 3.8 4.8 3.4 2,2 r-0.4 0.1 rO.6 r3.7 r-1.6 4.1 5.3 4.4 -9,0 3.3 r-1.1 r-6.5 r-5.5 r3.8 rO.2 r4.9 r!2.2 r6.9 r-6.8 5.9 IV -1.5 r2.6 r-0.7 rO.2 ANNUAL I 0.3 2.5 1.1 Percent change from corresponding quarter of previous year 1990 1991 0.7 0.8 -0.3 -0.6 rl.2 rO.9 rO.6 r-0.7 r2.3 r3.7 r4.3 r4.7 r-2.7 r-0.9 r-1.2 r-1.5 2.9 3.8 5.3 4.5 6.6 4.7 4.6 5.2 3.9 4.0 5.1 4.7 -9.8 -5.9 -10.2 -10.5 2.7 3.2 3.8 3.5 r-0.4 0.1 rO.6 r3.7 r-1.6 4.1 5.3 4.4 -9.0 3.3 0.2 r-2.3 r-2.5 r4.9 r-0.4 r4.7 7.4 r5.4 I II III IV r-0.5 r-0.1 r-0.9 rO.l ANNUAL I See footnotes following table 6. r-revised r-12.3 4.1 August 6, 1991 Source: Bureau of Labor Statistics 13 SOURCE: Output data from the 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. RELIABILITY: Productivity and cost measures are regularly revised as more complete information becomes available. The measures are first published 30 days after the close of the reference period; revisions appear 30 days later, and third revisions after an additional €0 days. In the business sector, the probability is 0.95 that the third publication (third revision) of a quarterly index of output per hour of all persons will differ from the initial value by between -1.8 and +2.1 index points* This interval is based on the performance of this measure between the second quarter of 1976 and the third quarter of 1989. Footnotes, Tables 1-6 (1) Wages and salaries of 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 selfemployed. (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, and 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. For nonfinancial corporations/rental income of persons is zero by definition, (8) Total unit cost is the sum of labor and nonlabor costs. (9) Unit profits include corporate profits with inventory valuation and capital consumption adjustments. 14 Appendix 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 Real compensation per hour (2) Unit labor cost Unit nonlabor payments (3) 126.3 127.9 129.7 130.8 104.8 104.9 105.1 104.8 111.5 113.3 114.2 115.6 125.9 126.5 128.7 130.2 116.2 117.5 118.9 120.3 128.6 104.9 113.7 127.9 118.2 116.6 117.3 118.3 119.6 130.9 133.4 133.8 134.4 121.2 122.5 123.3 124.3 118.0 133.1 122.8 Compensation per hour(l) Implicit price deflator (4) Indexes 1982-100 1988 1989 I II III IV 113.2 112.9 113.6 113.1 131.2 132.6 133.8 134.5 115.8 117.5 117.8 118.8 ANNUAL 113.2 133.0 117.5 I II III IV ANNUAL 113.0 113.1 112.8 112.2 135.6 135.9 136.1 135.5 120.0 120.1 120.7 120.7 131.8 132.8 133.4 134.2 104.4 103.6 103.2 102.9 112.8 135.8 120.4 133.0 103.5 Percimt change from previous quarter at annual rate (5) 1988 1989 1988 1989 I II III IV 4.7 -1.1 2.5 -1.6 5.7 4.6 3.5 2.0 0.9 5.8 1.0 3.7 2.5 5.2 5.8 3.3 -0.6 0.5 0.6 -1.0 -2.1 6.4 3.3 5.0 9.1 1.9 7.3 4.8 1.7 4.8 4.7 4.9 ANNUAL 2.2 5.3 3.0 4.5 0.4 2.2 4.4 3.0 I II III IV -0.5 0.4 -1.3 -1.9 3.5 0.9 0.6 -1.8 4.0 0.5 1.9 0.1 3.2 2.9 1.8 2.5 -1.7 -3.0 -1.3 -1.4 3.7 2.5 3.2 4.5 2.1 7.8 1.2 1.8 3.1 4.3 2.5 3,5 ANNUAL -0.4 2.1 2.4 3.4 -1.3 3.8 4.1 3.9 2.2 2.6 3.1 4.0 IV 3.4 2.4 2.3 1.1 ANNUAL 1 Percent change from corresponding quarter of previous year 2.7 6.2 0.1 4.0 0.5 5.8 4.8 0.9 2.4 3.3 2.9 5.3 5.2 1.0 2.9 3.9 2.8 4.2 -0.1 3.1 5.3 3.1 3.4 5.7 2.2 5.3 3.0 4.5 0.4 2.2 4.4 3.0 I II III IV -0.2 0.2 -0.7 -0.8 3.4 2.5 1.7 0.8 3.6 2.3 2.5 1.6 4.4 3.8 2.8 2.6 -0.4 -1.3 -1.8 -1.9 4.6 3.6 3.6 3.4 4.0 5.5 3.9 3.2 4.4 4.2 3.7 3.4 ANNUAL -0.4 2.1 2.4 3.4 -1.3 3.8 4.1 3.9 n, in See footnotes following table 6. August 6, 1991 Source: Bureau of Labor Statistics 15 Appendix table 2. Nonfarm 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 117.3 119.1 119.5 120.5 Real compensation per hour(2) Unit labor cost 125.5 127,1 128.8 130.0 104.2 104.3 104.4 104.2 111.9 113.4 114.2 115.2 126.9 127.3 128.8 132.1 116.6 117.8 118.8 120.5 Compensation per hour (1) Unit nonlabor payments (3) Implicit price deflator(4) Indexes 1982-100 1988 1989 I II III IV 112.2 112.1 112.8 112.9 131.6 133.4 134.8 136.0 ANNUAL 112.5 134.0 119.1 127.8 104.3 113.7 128.8 118.4 131.0 131.7 132.4 133.3 103.7 102.7 102.5 102.2 116.9 117.5 118.3 119.8 131.1 134.0 134.7 135.3 121.4 122.7 123.5 124.7 132.1 102.8 118.1 133.8 123.0 I II III IV 112.1 112.1 111.9 111.3 136.4 136.8 137.1 136.3 121.7 122.1 122.5 122.5 ANNUAL 111.9 136.7 122.2 Percent change from previous quarter at annual rate (5) 1988 1989 I II III IV 4.8 -0.5 2.7 0.1 5.9 5.6 4.1 3.6 1.1 6.1 1.4 3.5 ANNUAL 2.5 5.7 3.1 ' I II III IV -2.8 0.1 -0.7 -2.2 1.2 1.3 0.6 -2.1 ANNUAL -0.5 2.0 4.1 1.1 1.3 0.1 1989 I II III IV 3.5 2.4 2.5 1.8 -0.7 0.4 0.3 -0.6 -2.3 5.6 2.7 3.5 9.1 1.3 4.8 10.7 1.4 4.1 3.4 5.9 *•* 0.3 1.9 4.2 2.7 3,1 2.2 2.3 2.6 -1.8 -3.8 -0.8 -1.3 6.0 2.0 3.0 5.0 -3.1 9.3 2.0 1.8 2.8 4.4 2.6 3.9 -1.4 3.9 3.8 3.9 2.6 : • ,.:•"•?•••::.•, l.f; Percent change from 1988 ' .'.•" 2.4 5.1 5.5 3.7 corresponding quarter of previous year 6.3 6.0 5.6 4.8 2.7 3.6 3.1 3.0 3.9 4.7 5.1 4.2 0.0 0.8 0.9 -0.2 0.4 2.3 2.6 2.3 5.0 2.9 2.6 **< 2.0 2.5 2.6 3.7 ANNUAL 2.5 5-7 3.1 4.4 0.3 1.9 4.2 2.7 I II III IV -0.1 0.0 -0.8 -1.4 3.6 2.6 1.7 0.3 3.7 2.5 2.5 1.7 4.3 3.6 2.8 2.5 -0.4 -1.5 -1.8 -1.9 4.5 3.6 3.6 4.0 3.3 5.3 4.6 2.4 4.1 4.1 3.9 3.4 ANNUAL -0.5 2.0 2.6 3.4 -1.4 3.9 3.8 3.9 See footnotes following table 6. August 6, 1991 Source: Bureau of Labor statistics 16 Appendix table 3. 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 compensation per hour (2) Unit labor cost Indexes 1982-100 1988 1989 I II III IV 130.2 131.8 133.5 133.3 141.3 143.8 146.1 147.1 108.5 109.1 109.4 110.3 121.1 122.1 123.7 125.0 100.5 100.1 100.2 100.2 93.0 92.6 92.6 93.8 ANNUAL 132.1 144.6 109.4 122.9 100.2 93.0 I II III IV 133.1 133.8 133.1 133.4 147.1 147.1 146.0 145.3 110.5 110.0 109.8 108.9 126.6 127.1 128.4 128.9 100.2 99.1 99.4 98.8 95.1 95.0 96.5 96.6 ANNUAL 133.3 146.4 109.8 127.7 99.3 95.8 Percent change from previous quarter at annual rate (5) 1988 1989 I II III IV 5.0 5.1 5.1 -0.5 7.6 7.5 6.3 2.8 2.4 2.2 1.2 3.3 4.0 3.2 5.3 4.5 0.8 -1.4 0.1 0.2 -1.0 -1.9 0.2 5.0 ANNUAL 4.5 7.7 3.0 3.4 -0.7 -1.1 I II III IV -0.6 2.0 -2.1 1.1 0.1 0.1 -2.9 -2.0 0.6 -1.8 -0.8 -3.1 5.0 1.6 4.2 1.6 0.0 -4.3 1.0 -2.3 5.6 -0.4 6.5 0.5 ANNUAL 0.9 1.3 0.4 3.9 -0.9 3.0 Percent change from corresponding quarter of previous year 1988 1989 I II III IV 5.5 4.6 4.8 3.7 8.6 8.3 7.7 6.0 3.0 3.6 2.8 2.3 2.2 3.3 4.1 4.2 -1.6 -0.6 -0.1 -0.1 -3.1 -1.3 -0.7 0.6 ANNUAL 4.5 7.7 3.0 3.4 -0.7 -1.1 I II III IV 2.3 1.5 -0.3 0.1 4.1 2,3 0.0 -1.2 1.8 0.8 0.3 -1.3 4.5 4.1 3.8 3.1 -0.3 -1.0 -0.8 -1.4 2.2 2.6 4.1 3.0 ANNUAL 0.9 1.3 0.4 3.9 -0.9 3.0 See footnotes following table 6. August 6, 1991 Source: Bureau of Labor Statistics 17 Appendix table 4. Durable 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 (1) Real compensation per hour (2) Unit labor cost Indexes 1982*100 I II III IV 139.6 141.9 143.9 144.3 152.1 156.4 159.6 161.7 109.0 110.3 110.9 112.0 120.4 120.4 121.8 123.4 99.9 98.8 98.7 98.9 86.3 84.9 84.7 85.5 ANNUAL 142.3 157.5 110.6 121.4 99.0 85.3 I II III IV 144.3 146.3 146.2 145.7 161.7 162.2 161.0 159.1 112.1 110.9 110.2 109.2 125.2 125.7 127.4 127.8 99.1 98.1 98.6 98.0 86.8 86.0 87.2 87.7 ANNUAL 145.6 161.0 110.6 126.5 98.5 86.9 1988 1989 Percent change from previous quarter at annual rate (5) I II III IV 7.9 6.7 5.9 1.2 10.3 11.9 8.3 5.5 2.2 4.8 2.2 4.2 4.7 -0.1 4.8 5.1 1.5 -4.5 -0.4 0.8 -3.0 -6.4 -1.0 3.9 ANNUAL 6.6 10.7 3.9 2.5 -1.5 -3.8 I II III IV -0.1 5.7 -0.3 -1.2 0.0 1.1 -2.8 -4.7 0.2 -4.3 -2.4 -3.5 6.1 1.7 5.5 1.2 1.1 -4.2 2.2 -2.7 6.2 -3.7 5.8 2.4 ANNUAL 2.3 2.3 -0.1 4.2 -0.6 1.9 1988 1989 Percent change from corresponding quarter of previous year I II III IV 7.7 6.5 7.1 5.4 11.0 11.6 11.4 9.0 3.1 4.7 4.1 3.4 1.7 2.1 3.1 3.6 -2.2 -1.7 -1.1 -0.7 -5.6 -4.1 -3.7 -1.7 ANNUAL 6.6 10.7 3.9 2.5 -1.5 -3.8 I II III IV 3.4 3.1 1.6 1.0 6.3 3.7 0.9 -1.6 2.8 0.5 -0.6 -2.5 4.0 4.4 4.6 3.6 -0.8 -0.7 -0.1 -0.9 0.6 1.3 3.0 2.6 ANNUAL 2.3 2.3 -0.1 4.2 -0.6 1.9 1988 1989 See footnotes following table 6. August 6, 1991 Source: Bureau of Labor Statistics 16 Appendix 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 compensation per hour (2) Unit labor cost Indexes 1982*100 1988 1989 IV 117.6 118.3 119.3 118.3 126.8 127.1 128.1 127.6 107.8 107.4 107.3 107.9 122.1 124.6 126.4 127.4 101.3 102.2 102.4 102.1 103.8 105.4 105.9 107.7 ANNUAL 118.3 127.4 107.7 125.0 102.0 105.7 I II III IV 117.9 116.9 115.5 116.9 127.6 127.1 126.1 126.9 108.2 108.7 109.2 108.5 128.4 129.0 129.8 130.6 101.7 100.7 100.5 100.1 108.9 110.4 112.4 111.7 ANNUAL 116.7 126.9 108.7 129.4 100.7 110.8 I II III Percent change from previous Barter at annual rate (5) 1988 1989 -0.4 2.0 2.8 8.3 5.9 3.2 -1.1 2.1 6.0 2.2 7.0 3.0 1.7 4.5 0.4 3.3 0.1 -1.6 -3.2 1.3 1.9 1.6 2.5 -2.5 -1.6 -4.0 -0.7 -1.6 4.5 5,5 7.5 5.1 3.3 1.9 2.4 2.4 -2,6 -1.3 -0.4 1.0 3.4 -1.3 4*8 2.8 I II III IV 0.6 2.2 3.6 3.4 0.8 3.2 -1.4 -0.4 -3.5 -1.6 ANNUAL 1.2 I II III IV -1.1 -3.4 -4.7 ANNUAL 3.5 0.7 Percent change from corresponding quarter of previous year 1988 1989 I II III IV 2.0 1.4 1.2 0.7 5.0 3.4 2.1 1.4 2.9 2.0 1.0 0.7 3.1 4.9 5.4 5.0 -0.8 0.9 1.2 0.7 1,0 3.5 4.2 4.3 ANNUAL 1.2 3.0 1.7 4.5 0.4 3.3 I II III IV 0.3 0.6 0.0 -1.6 -0.6 0.4 1.2 1.7 0.6 5.2 3.6 2.7 2.5 0.4 -1.2 -3.2 -1.1 -1.5 -1.8 -2.0 4.9 4.8 6.1 3.7 ANNUAL -1.3 -0.4 1.0 3.4 -1.3 4.8 See footnotes following table 6. August 6, 1991 Source: Bureau of Labor Statisti-cs Appendix table 6. Nonf inancia) corporat ion* : 1'ioduei i v l t y , hourly compen»*tion, unit labor cost, unit profits, and prices. seasonally adjusted Year and quarter Output per allemployee hour Output Employee Hourly Real hour* compens*- hourly tion compen(1) sation(2) Unit labor cost Unit nonlabor cost<7) Total unit cost (8) Unit profits (9) Implicit price deflator (4) Indexes 1962-100 1988 1989 I II III IV 115.0 115.1 115.4 115.5 134.8 136.5 137.8 139.3 117.2 118.5 119.4 120.6 122.9 124.4 126.0 126.9 102.0 102.1 102.1 101.7 106.9 108.1 109.2 109.9 103.0 103.2 104.1 105.0 105.8 106.7 107.8 108.5 174.5 175.6 168.4 175.2 110.1 111.0 111.6 112.7 ANNUAL 115.4 137.1 118.8 125.2 102.1 108.5 103.8 107.2 173.4 111.4 128.2 128.9 129.7 130.3 101.5 100.6 100.4 99.9 111.9 112.2 112.1 113.9 105.4 107.5 109.8 111.5 110.1 110.9 111.5 113.2 158.4 158.4 154.4 142.5 113.1 113.9 114.2 115.0 129.5 100.7 112.5 108.6 111.4 153.4 114.0 I II III IV 114.6 114.9 115.6 114.5 139.5 140.3 141.5 140.4 121.7 122.1 122.4 122.6 ANNUAL 115.1 140.4 122.1 Percent change from previous quarter at annual rate (5) 1988 1989 I II III IV 4.2 0.5 0.9 0.3 6.5 5.1 3.9 4.4 2.3 4.5 3.0 4.1 2.0 5.1 5.2 2.8 -1.1 0.4 0.0 -1.5 -2.1 4.5 4.2 2.5 7.7 0.7 3.7 3.4 0.5 3.5 4.1 2.8 5.5 2.6 -15.4 17.1 0.9 3.4 2.0 4.1 ANNUAL 2.2 5.7 3.5 4.0 -0.1 1.8 2.1 1.9 2.3 1.9 I II III IV -2.9 1.0 2.6 -4.0 0.7 2.2 3.4 -3.1 3.8 1.2 0.8 0.9 4.4 2.2 2.3 2.1 -0.6 -3.7 -0.8 -1.8 7.5 1.2 -0.3 6.4 1.7 8.2 8.8 6.4 5.9 3.0 2.1 6.4 -33.1 -0.2 -9.7 -27.5 1.5 2.7 1.0 3.1 ANNUAL -0.3 2.4 2.7 3.4 -1.3 3.7 4.6 3.9 -11.5 2.4 Percent change from corresponding quarter of previous year 1988 1989 I II III IV 3.0 2.4 1.9 1.5 6.5 6.1 5.4 5.0 3.4 3.7 3.4 3.5 3.5 4.3 4.6 3.8 -0.4 0.4 0.3 -0,6 0.5 1.9 2.6 2.3 0.8 1.1 2.5 3.8 0.5 1.7 2.6 2.7 11.8 3.3. -6.2 1.7 1.6 1.8 1.7 2.6 ANNUAL 2.2 5.7 3.5 4.0 -0.1 1.8 2.1 1.9 2.3 1.9 I II III IV -0.3 -0.2 0.2 -0.9 3.5 2.8 2.7 0.8 3.8 3.0 2.5 1.7 4.3 3.6 2.9 2.7 -0.4 -1.5 -1.7 -1.8 4.7 3.8 2.7 3.6 2.3 4.2 5.5 6.2 4.0 3.9 3.4 4.3 -9.2 -9.8 -8.3 -18.7 2.7 2.6 2.3 2.1 ANNUAL -0.3 2.4 2.7 3.4 -1.3 3.7 4.6 3.9 -11.5 2.4 See footnotes following table 6. August 6, 1991 Source: Bureau of Labor Statistics
@FedFRASER