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Internet address: Historical, technical information: Current data: Media contact: http://stats.bls.gov/lprhome.htm (202) 606-5606 (202) 606-7828 (202) 606-5902 USDL 97-272 TRANSMISSION OF THIS MATERIAL IS EMBARGOED UNTIL 10:00 A.M. EDT, TUESDAY, AUGUST 12, 1997. PRODUCTIVITY AND COSTS Second Quarter 1997 The Bureau of Labor Statistics of the U.S. Department of Labor reported preliminary productivity data--as measured by output per hour of all persons--for the second quarter of 1997. The preliminary seasonally adjusted annual rates of productivity change in the second quarter were: 0.7 percent in the business sector, and 0.6 percent in the nonfarm business sector. In both the business and nonfarm business sectors, productivity growth in the second quarter was slower than in the first quarter, as the increases in both output and hours slowed. In the first quarter of 1997, output per hour of all persons (as revised) rose 1.8 percent in the business sector and 1.4 percent in the nonfarm business sector. In manufacturing, productivity changes in the second quarter were: 3.2 percent in manufacturing, 5.1 percent in durable goods manufacturing, and 0.9 percent in nondurable goods manufacturing. The second-quarter increase in manufacturing productivity was the result of a 4.4 percent increase in output and a 1.2 percent rise in hours of all persons. Output and hours in manufacturing, which includes about 18 percent of U.S. business-sector employment, tend to vary more from quarter to quarter than data for the more aggregate business and nonfarm business sectors. Second-quarter measures are summarized in table A and appear in detail in tables 1 through 5. ----------------------------------------------------------------------------| These measures reflect the regular multi-year GDP revisions released by | | the Bureau of Economic Analysis of the U.S. Department of Commerce on | | July 31. Measures for the manufacturing sectors also incorporate revised | | historical data. See Revised Measures. The revised measures are shown | | in appendix tables 1-9. | ----------------------------------------------------------------------------- --------------------------------------------------------------------Table A. Productivity and costs: Preliminary second-quarter 1997 measures (Seasonally adjusted annual rates) --------------------------------------------------------------------Real Hourly hourly Unit Produccompen- compenlabor Sector tivity Output Hours sation sation costs --------------------------------------------------------------------Percent change from preceding quarter Business 0.7 2.4 1.7 3.0 1.9 2.3 Nonfarm business 0.6 2.3 1.7 3.1 2.0 2.4 Manufacturing 3.2 4.4 1.2 2.7 1.6 -0.4 Durable 5.1 7.1 1.9 2.3 1.2 -2.7 Nondurable 0.9 1.1 0.2 3.4 2.3 2.5 --------------------------------------------------------------------Percent change from same quarter a year ago Business 0.8 3.6 2.8 3.5 1.1 2.6 Nonfarm business 0.7 3.6 2.9 3.4 1.0 2.7 Manufacturing 3.7 4.8 1.0 3.1 0.7 -0.6 Durable 4.1 6.0 1.9 2.5 0.2 -1.5 Nondurable 3.4 3.2 -0.2 3.8 1.4 0.3 --------------------------------------------------------------------- The data sources and methods used in the preparation of the manufacturing series differ from those used in preparing the business and nonfarm business series, and these measures are not directly comparable. Output measures for business and nonfarm business are based on measures of gross domestic product prepared by the Bureau of Economic Analysis of the U.S. Department of Commerce. Quarterly output measures for manufacturing reflect indexes of industrial production independently prepared by the Board of Governors of the Federal Reserve System. See Technical Notes for further information. Business From the first to the second quarter of 1997, business sector productivity increased at a 0.7 percent annual rate, as output rose 2.4 percent and hours of all persons engaged in the sector rose 1.7 percent. The second-quarter increase in labor productivity was smaller than those recorded in the previous two quarters. In the first quarter, productivity had increased 1.8 percent as output increased 5.9 percent and hours rose 4.0 percent (table 1). Hourly compensation increased 3.0 percent in the second quarter and 4.4 percent in the first quarter of 1997. This measure includes wages and salaries, supplements, employer contributions to employee benefit plans, and taxes. Unit labor costs, which reflect changes in both hourly compensation and productivity, increased at a 2.3 percent annual rate during the second quarter, similar to the 2.5 percent increase posted 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 1.9 percent annual rate in both the first and second quarters of 1997, after falling 0.1 percent in the fourth quarter of 1996. The first- and secondquarter increases in real hourly compensation were the largest since a 5.0 percent rise in the first quarter of 1992. The implicit price deflator for the business sector, which reflects changes in unit labor costs and unit nonlabor payments, increased 1.1 percent in the second quarter. This increase was smaller than the 2.0 percent rise in the first quarter. Nonfarm business Productivity increased 0.6 percent in the nonfarm business sector during the second quarter of 1997, compared with a 1.4 percent increase in the first quarter (table 2). Output grew more slowly in the second quarter, 2.3 percent, than during the first quarter of the year, when it grew 5.6 percent. Hours of all persons in the nonfarm business sector increased 1.7 percent in the second quarter, much less than the 4.2 percent increase registered during the previous quarter. Hourly compensation increased at a 3.1 percent annual rate in the second quarter, down from the 4.5 percent rise posted one quarter earlier. However, when the rise in the CPI-U is taken into account, increases in real hourly compensation for the first and second quarters of the year were about the same--2.0 percent in the second quarter and 2.1 percent in the first quarter. As in the larger business sector, the increases in real hourly compensation during the first two quarters of 1997 are the largest since the first quarter of 1992, when real hourly compensation rose 4.8 percent. Unit labor costs grew 2.4 percent in the second quarter, down from the 3.1 percent increase posted in the previous quarter. The implicit price deflator for nonfarm business output rose 0.9 percent in the second quarter and 2.4 percent in the first quarter of 1997. Manufacturing Productivity increased 3.2 percent in manufacturing, as output rose 4.4 percent and hours of all persons rose 1.2 percent (seasonally adjusted annual rates). In the first quarter, productivity increased 2.5 percent, as output rose 5.4 percent and hours increased 2.8 percent (table 3). Labor productivity in manufacturing has risen in every quarter since the third quarter of 1993, when it fell 0.2 percent. In durable goods, productivity increased 5.1 in the second quarter of 1997, up from the 3.0 percent increase posted in the first quarter. In nondurable goods manufacturing, productivity rose 0.9 percent in the second quarter and 2.7 percent in the first quarter. The second-quarter increase in nondurables was the smallest since a 0.9 percent drop in the third quarter of 1994 (tables 4 and 5). Hourly compensation of all manufacturing workers increased 2.7 percent during the second quarter, less than the 4.4 percent increase in the first quarter. When the increase in consumer prices is taken into account, real hourly compensation rose 1.6 percent in the second quarter, somewhat less than the 2.0 percent increase in the previous period. Unit labor costs fell at a 0.4 percent annual rate in the second quarter after rising 1.8 percent one quarter earlier. In durable goods manufacturing, unit labor costs fell 2.7 percent in the second quarter after rising 1.7 percent during the first quarter of 1997. In nondurable goods manufacturing, unit labor costs rose 2.5 percent during the second quarter, up from the 0.7 percent increase of the first quarter. -------------------------------------------------------------------Table B. Previous and revised productivity and related measures Quarterly percent change at seasonally adjusted annual rate -------------------------------------------------------------------Real Hourly hourly Unit Produccompen- compenlabor Sector tivity Output Hours sation sation costs -------------------------------------------------------------------First quarter 1997 Business: Previous....... 2.9 7.0 4.0 5.0 2.6 2.1 Current........ 1.8 5.9 4.0 4.4 1.9 2.5 Nonfarm business: Previous....... 2.6 7.0 4.2 5.2 2.8 2.5 Current........ 1.4 5.6 4.2 4.5 2.1 3.1 Manufacturing: Previous....... 2.8 5.6 2.8 4.4 2.0 1.6 Current........ 2.5 5.4 2.8 4.4 2.0 1.8 -------------------------------------------------------------------- Revised Measures Current and previous measures for the first quarter of 1997 for the business, nonfarm business, and manufacturing sectors are compared in table B. In the business and nonfarm business sectors, increases in productivity, output, and hourly compensation are smaller--and increases in unit labor costs are higher--than reported on June 18, based on information then available. In manufacturing, productivity and output increased slightly less than originally reported. Output measures for the business, nonfarm business, and nonfinancial corporate sectors and compensation measures for all sectors incorporate the revisions of the national income and product accounts produced by the Bureau of Economic Analysis (BEA), U.S. Department of Commerce (BEA 97-23). These revisions extend back to the first quarter of 1993. Appendix tables 1-6 present quarterly and annual measures for 1992-94. Output measures for the manufacturing, durable manufacturing, and nondurable manufacturing sectors were revised back to 1949 to incorporate the following: revised 1994 and newly available 1995 shipments data from the Annual Survey of Manufactures published by the Census Bureau; revised inventory data from BEA for 1949-95; and the incorporation of new annual-weighted deflators, for detailed industry outputs, for 1987-95 from BEA. Appendix tables 7-9 contain revised annual indexes for these three sectors. ---------------------------------------------------------------------------Table C. Nonfinancial corporations: Previous and revised productivity and cost measures Quarterly percent changes at seasonally adjusted annual rates ---------------------------------------------------------------------------Real Hourly hourly Unit Implicit Produccompen- compen- labor Unit price tivity Output Hours sation sation costs profits deflator ---------------------------------------------------------------------------First quarter 1997 Previous 4.6 8.8 4.0 4.8 2.4 0.2 10.8 1.1 Current 1.9 6.1 4.1 4.3 1.9 2.3 3.8 1.6 ---------------------------------------------------------------------------- Revised measures: Nonfinancial Corporations Productivity and cost measures for the first quarter for nonfinancial corporations also were revised to incorporate the most recent information from the Bureau of Economic Analysis. The revised data for the first quarter show that productivity, output, hourly compensation, and unit profits grew more slowly than reported on June 18. Growth in unit labor costs and the implicit price deflator were higher than reported in June, based on information then available (table C). Next release date The next release of Productivity and Costs is scheduled for 10:00 a.m. EDT, Tuesday, September 9, 1997. Revised second-quarter measures for business, nonfarm business, and manufacturing will be released at that time, along with measures for nonfinancial corporations. TECHNICAL NOTES Labor Hours: 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 paid hours of production and nonsupervisory workers in nonagricultural establishments. Jobs rather than persons are counted. Weekly paid hours are adjusted to hours at work 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 (BEA) of the Department of Commerce and the CPS are used to measure labor input for government enterprises, proprietors, and unpaid family workers. Output: Business sector output is an annual-weighted index constructed after excluding from gross domestic product (GDP) the following outputs: General government, nonprofit institutions, paid employees of private households, and the rental value of owner-occupied dwellings. Corresponding exclusions also are made in labor inputs. Business output accounted for about 76 percent of the value of GDP in 1992. Nonfarm business, which also excludes farming, accounted for about 75 percent of GDP in 1992. Annual manufacturing indexes are constructed by deflating current-dollar industry value of production data from the U.S. Bureau of the Census with deflators from the BEA. These deflators are based on data from the BLS producer price program and other sources. The industry shipments are aggregated using annual weights, and intrasector transactions are removed. Quarterly manufacturing output measures are based on the index of industrial production prepared monthly by the Board of Governors of the Federal Reserve System adjusted to be consistent with annual indexes of manufacturing sector output prepared by BLS. Durables include the following 2-digit SIC industries: Primary metal industries; fabricated metal products; nonelectrical machinery; industrial and commercial machinery and computer equipment; electronic and other electrical equipment; transportation equipment; instruments; lumber and lumber products; furniture and fixtures; stone, clay, and glass and concrete products; and miscellaneous manufactures. Nondurables include: Food and kindred products, tobacco products, textile mill products, apparel products, paper and allied products, printing and publishing, chemicals and chemical products, petroleum refining and related industries, rubber and plastic products, and leather and leather products. Nonfinancial corporate output is an annual-weighted index constructed by excluding from GDP the following outputs: General government; nonprofit institutions; employees of private households; the rental value of owner-occupied dwellings; unincorporated business; and those corporations which are depository institutions, nondepository institutions, security and commodity brokers, insurance carriers, regulated investment offices, small business investment offices, and real estate investment trusts. Nonfinancial corporations accounted for about 52 percent of the value of GDP in 1992. Productivity: These productivity measures describe the relationship between real output 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 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. Information in this release will be made available to sensory-impaired individuals upon request. Voice phone: 202-606-STAT; TDD phone: 202-606-5897; TDD message referral phone number: 1-800-326-2577. Table 1. Business sector: Productivity, hourly compensation, unit labor costs, and prices, seasonally adjusted Real Year Output per Hours CompensacompensaUnit Unit nonImplicit and hour of of all tion per tion per labor labor pay- price quarter all persons Output persons hour (1) hour (2) costs ments (3) deflator (4) --------------------------------------------------------------------------------------------------------Indexes 1992=100 1995 1996 I II III IV r100.2 r100.4 r100.6 r101.1 r108.7 r108.7 r109.8 r110.7 r108.5 r108.3 109.2 r109.5 r105.8 r106.6 r107.3 r108.1 r98.3 r98.3 r98.4 r98.6 r105.6 r106.1 r106.7 r107.0 r108.3 r108.4 r108.8 r109.2 r106.5 107.0 r107.4 107.8 ANNUAL r100.5 r109.5 r108.9 r106.9 r98.4 r106.3 r108.7 107.2 I II III IV r101.6 r102.3 r102.0 r102.5 r111.4 r113.2 r113.5 r115.0 109.6 110.7 111.3 112.2 r108.9 r110.1 r111.0 r111.9 r98.4 r98.8 r98.9 r98.9 r107.1 r107.7 r108.8 r109.2 r110.6 r111.1 r110.8 r111.4 r108.4 r108.9 r109.6 r110.0 ANNUAL r102.0 r113.3 111.0 r110.4 r98.7 r108.2 r111.0 r109.2 1997 I r102.9 r116.6 113.3 r113.1 r99.4 r109.9 r111.8 r110.6 II 103.1 117.3 113.8 114.0 99.8 110.5 111.4 110.8 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1995 1996 I II III IV r-2.1 r0.9 r0.7 r2.0 r0.8 r0.2 r4.2 r3.0 2.9 -0.7 r3.5 r1.0 r2.6 r3.2 r2.6 r3.2 r-0.2 r0.1 r0.5 r0.7 r4.8 r2.3 r1.9 r1.2 r-0.2 r0.4 r1.4 r1.5 r2.9 r1.6 r1.7 r1.3 ANNUAL r0.0 r2.3 2.4 r2.5 r-0.3 r2.6 r1.7 2.3 I II III IV r2.2 r2.5 r-1.1 r1.9 r2.8 r6.6 r0.9 r5.4 0.6 4.0 2.0 3.4 r2.7 r4.7 r3.3 r3.3 r-0.6 r1.3 r0.6 r-0.1 r0.5 r2.2 r4.4 r1.4 r5.3 r1.9 r-1.0 r2.2 r2.3 r2.1 r2.4 r1.7 ANNUAL r1.5 r3.5 2.0 r3.3 r0.3 r1.8 r2.2 r1.9 1997 I r1.8 r5.9 4.0 r4.4 r1.9 r2.5 1.1 r2.0 II 0.7 2.4 1.7 3.0 1.9 2.3 -1.1 1.1 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1995 1996 I II III IV r-0.5 r-0.3 0.0 r0.4 r3.3 r1.7 2.4 r2.0 3.8 r2.1 2.3 1.7 r1.7 r2.5 r2.7 r2.9 r-1.2 r-0.5 r0.1 r0.3 r2.2 2.8 r2.7 r2.5 r3.2 r1.7 r1.3 r0.8 r2.6 r2.4 r2.2 r1.9 ANNUAL r0.0 r2.3 2.4 r2.5 r-0.3 r2.6 r1.7 2.3 I II III IV r1.4 r1.8 r1.4 r1.4 r2.5 r4.2 r3.3 r3.9 1.1 2.3 1.9 2.5 r2.9 r3.3 r3.5 r3.5 r0.2 r0.5 r0.5 r0.3 r1.5 r1.5 r2.1 r2.1 r2.1 r2.5 r1.9 r2.1 1.7 r1.8 r2.0 r2.1 ANNUAL r1.5 r3.5 2.0 r3.3 r0.3 r1.8 r2.2 r1.9 1997 I 1.3 4.7 3.4 r3.9 r0.9 r2.6 r1.1 r2.0 II 0.8 3.6 2.8 3.5 1.1 2.6 0.3 1.8 --------------------------------------------------------------------------------------------------------See footnotes following Table 6. r=revised August 12, 1997 Source: Bureau of Labor Statistics Table 2. Nonfarm business sector: and prices, seasonally adjusted Productivity, hourly compensation, unit labor costs, Real Year Output per Hours CompensacompensaUnit Unit nonImplicit and hour of of all tion per tion per labor labor pay- price quarter all persons Output persons hour (1) hour (2) costs ments (3) deflator (4) --------------------------------------------------------------------------------------------------------Indexes 1992=100 1995 1996 I II III IV r100.3 r100.5 r100.8 r101.2 r108.9 r108.9 r110.2 r111.0 108.5 r108.4 109.3 r109.7 r105.6 r106.4 r107.1 r107.9 r98.2 r98.1 r98.3 r98.4 r105.3 r105.8 r106.3 r106.6 r109.5 r109.6 r109.7 r109.8 r106.8 r107.2 107.5 107.8 ANNUAL r100.7 r109.8 109.0 r106.7 r98.3 r106.0 r109.7 r107.3 I II III IV r101.7 r102.2 r102.0 r102.4 r111.7 r113.5 r113.8 r115.3 109.8 111.0 111.6 112.6 r108.7 r109.8 r110.6 r111.5 r98.3 r98.5 r98.6 r98.5 r106.9 r107.4 r108.5 r108.9 r111.1 r111.4 r111.0 r111.6 r108.4 r108.8 r109.4 r109.8 ANNUAL r102.0 r113.6 111.3 r110.1 r98.4 r107.9 r111.3 r109.1 1997 I r102.8 r116.9 r113.8 r112.8 r99.1 r109.7 r111.9 r110.5 II 102.9 117.6 114.2 113.6 99.5 110.4 111.4 110.7 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1995 1996 I II III IV r-1.6 r0.8 r1.1 r1.6 r1.2 r0.2 r4.6 r3.0 r2.9 -0.6 3.5 1.4 r2.6 r3.1 r2.7 r2.9 r-0.2 r-0.1 r0.6 r0.5 r4.2 r2.3 r1.6 r1.3 r1.3 r0.2 r0.5 r0.3 r3.1 r1.5 r1.2 r1.0 ANNUAL 0.2 r2.6 2.4 r2.5 r-0.3 r2.4 r2.1 r2.3 I II III IV r1.9 r2.2 r-1.0 r1.8 r2.6 r6.8 r1.0 r5.4 r0.6 4.4 2.1 3.6 r2.8 r4.4 r2.9 r3.3 r-0.5 r1.0 r0.2 r-0.1 r0.9 r2.1 r3.9 r1.5 r4.8 r1.1 r-1.3 r2.0 r2.3 r1.7 r2.0 r1.7 ANNUAL r1.3 r3.5 2.2 r3.1 r0.2 r1.8 r1.5 r1.7 1997 I r1.4 r5.6 4.2 r4.5 r2.1 r3.1 r1.0 r2.4 II 0.6 2.3 1.7 3.1 2.0 2.4 -1.7 0.9 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1995 1996 1997 I II III IV r-0.2 r-0.2 r0.4 r0.4 r3.5 r1.9 r2.7 r2.2 3.7 2.1 2.3 1.8 r1.8 r2.4 r2.8 r2.8 r-1.1 r-0.6 r0.1 r0.2 r2.0 r2.6 r2.4 r2.4 r4.3 r2.4 r1.5 r0.6 r2.8 r2.6 r2.1 r1.7 ANNUAL 0.2 r2.6 2.4 r2.5 r-0.3 r2.4 r2.1 r2.3 I II III IV r1.3 r1.7 r1.2 r1.2 r2.6 r4.2 r3.3 r3.9 1.2 2.5 2.1 2.7 r2.9 r3.2 r3.3 r3.3 r0.1 r0.4 r0.3 r0.2 r1.5 r1.5 r2.1 r2.1 r1.4 r1.7 r1.2 r1.6 1.5 r1.6 r1.7 r1.9 ANNUAL r1.3 r3.5 2.2 r3.1 r0.2 r1.8 r1.5 r1.7 I r1.1 r4.7 3.6 r3.8 r0.8 r2.7 r0.7 r1.9 II 0.7 3.6 2.9 3.4 1.0 2.7 0.0 1.7 --------------------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 r=revised Source: Bureau of Labor Statistics Table 3. Manufacturing sector: seasonally adjusted Productivity, hourly compensation, and unit labor costs, Real Year Output per Hours CompensacompensaUnit and hour of of all tion per tion per labor quarter all persons Output persons hour (1) hour (2) costs -------------------------------------------------------------------------------------------------Indexes 1992=100 1995 1996 I II III IV r106.7 r107.6 r108.8 r109.2 r112.3 r111.9 r112.7 r113.0 105.2 104.0 103.6 103.4 r107.2 r108.2 r109.2 r110.1 r99.6 r99.8 r100.2 r100.4 r100.5 r100.5 r100.4 r100.8 ANNUAL r108.1 r112.5 104.1 r108.7 r100.1 r100.6 I II III IV r110.3 r111.0 r112.4 r113.5 r113.3 r115.0 r116.4 r117.7 102.7 103.7 103.6 103.7 r110.8 r112.1 r112.9 r113.5 r100.2 r100.5 100.6 r100.3 r100.4 r101.0 r100.4 r100.0 ANNUAL r111.7 r115.6 103.5 r112.2 r100.3 r100.5 1997 I r114.2 r119.2 104.4 r114.7 r100.8 r100.4 II 115.1 120.5 104.7 115.5 101.2 100.3 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1995 1996 I II III IV r3.8 r3.5 r4.3 1.7 r4.4 r-1.2 r2.7 1.0 0.6 -4.5 -1.5 -0.7 r2.1 r3.8 r3.9 r3.2 r-0.6 r0.7 r1.7 r0.7 r-1.6 r0.3 r-0.4 1.4 ANNUAL 3.2 3.5 0.3 r2.9 r0.1 r-0.3 I II III IV 4.0 2.4 5.5 3.7 1.1 6.3 5.0 4.3 -2.7 3.8 -0.5 0.6 r2.5 r4.7 r3.2 r1.9 r-0.8 r1.3 r0.5 r-1.4 r-1.4 r2.2 r-2.2 r-1.7 ANNUAL 3.3 r2.8 -0.5 r3.2 r0.2 r-0.1 1997 I r2.5 r5.4 2.8 4.4 2.0 r1.8 II 3.2 4.4 1.2 2.7 1.6 -0.4 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1995 1996 1997 I II III IV r2.9 2.7 r3.4 r3.3 r5.7 r3.5 r3.1 r1.7 2.8 0.9 -0.3 -1.6 r2.0 r2.8 r3.1 r3.3 r-0.9 r-0.2 r0.5 r0.6 r-0.9 r0.1 r-0.3 r-0.1 ANNUAL 3.2 3.5 0.3 r2.9 r0.1 r-0.3 I II III IV r3.4 3.1 3.4 3.9 r0.9 r2.8 3.3 4.1 -2.4 -0.3 -0.1 0.3 r3.3 r3.6 r3.4 3.1 r0.6 r0.7 r0.4 -0.1 r0.0 r0.5 r0.0 -0.8 ANNUAL 3.3 r2.8 -0.5 r3.2 r0.2 r-0.1 I r3.5 r5.2 1.7 r3.5 r0.6 r0.0 II 3.7 4.8 1.0 3.1 0.7 -0.6 -------------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 r=revised Source: Bureau of Labor Statistics Table 4. Durable manufacturing sector: seasonally adjusted Productivity, hourly compensation, and unit labor costs, Real Year Output per Hours CompensacompensaUnit and hour of of all tion per tion per labor quarter all persons Output persons hour (1) hour (2) costs -------------------------------------------------------------------------------------------------Indexes 1992=100 1995 1996 I II III IV r110.8 r111.3 r112.8 r113.5 r118.4 r118.0 r119.5 r120.5 106.9 106.0 106.0 106.2 r107.1 r107.9 r108.8 r109.3 r99.5 r99.5 r99.8 r99.7 r96.7 r96.9 r96.4 r96.4 ANNUAL r112.1 r119.1 106.3 r108.2 r99.7 r96.6 I II III IV r115.1 r116.3 r118.0 r118.7 r121.6 r124.7 r126.5 r127.4 105.6 107.2 107.2 107.4 r109.8 r111.1 r111.8 r111.9 r99.3 99.6 r99.6 r98.9 r95.3 r95.5 r94.7 r94.3 ANNUAL r116.9 r125.0 107.0 111.0 r99.2 r95.0 1997 I 119.5 129.9 108.7 r113.2 r99.5 r94.7 II 121.0 132.2 109.2 113.9 99.8 94.1 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1995 1996 I II III IV r5.7 r2.1 r5.4 r2.4 r6.7 r-1.4 r5.3 r3.4 0.9 -3.4 -0.1 0.9 r2.3 r3.0 r3.4 r2.1 r-0.4 r-0.1 r1.2 r-0.3 r-3.2 r1.0 r-1.9 r-0.3 ANNUAL r4.0 r5.3 1.3 r2.6 r-0.2 r-1.3 I II III IV 6.0 4.0 6.2 2.1 3.7 10.3 6.0 2.8 -2.2 6.1 -0.2 0.7 r1.6 r4.8 r2.7 r0.5 r-1.7 r1.4 r0.0 r-2.7 r-4.2 r0.8 r-3.4 r-1.6 ANNUAL 4.3 5.0 0.7 r2.5 r-0.4 r-1.7 1997 I r3.0 r8.3 5.2 r4.7 r2.3 r1.7 II 5.1 7.1 1.9 2.3 1.2 -2.7 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1995 1996 1997 I II III IV r4.1 r3.4 r3.9 r3.9 8.0 r5.4 r4.7 r3.4 3.7 1.9 0.7 -0.4 r1.7 r2.5 r2.8 r2.7 r-1.1 r-0.6 r0.2 r0.1 r-2.3 r-0.9 r-1.1 r-1.1 ANNUAL r4.0 r5.3 1.3 r2.6 r-0.2 r-1.3 I II III IV r4.0 r4.4 r4.6 4.6 r2.7 r5.6 5.8 5.7 -1.2 1.2 1.1 1.1 r2.5 r3.0 r2.8 r2.4 r-0.2 r0.1 r-0.2 r-0.8 r-1.4 r-1.4 r-1.8 r-2.1 ANNUAL 4.3 5.0 0.7 r2.5 r-0.4 r-1.7 I r3.8 r6.8 2.9 r3.2 r0.2 r-0.6 II 4.1 6.0 1.9 2.5 0.2 -1.5 -------------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 r=revised Source: Bureau of Labor Statistics Table 5. Nondurable manufacturing sector: seasonally adjusted Productivity, hourly compensation, and unit labor costs, Real Year Output per Hours CompensacompensaUnit and hour of of all tion per tion per labor quarter all persons Output persons hour (1) hour (2) costs -------------------------------------------------------------------------------------------------Indexes 1992=100 1995 1996 I II III IV r102.9 r104.1 r105.0 r105.3 r105.9 r105.6 r105.5 r105.0 103.0 101.4 100.5 99.7 r107.0 r108.3 r109.5 r110.7 r99.5 r99.9 r100.4 r100.9 r104.1 r104.0 r104.3 r105.1 ANNUAL r104.4 r105.5 101.1 108.9 100.3 r104.4 I II III IV r105.8 r106.0 r107.2 r108.7 r104.5 r104.9 r105.9 r107.4 98.8 99.0 98.7 98.8 r111.7 r112.8 r113.9 r115.1 r101.1 r101.2 r101.5 r101.8 r105.7 r106.4 r106.3 r106.0 ANNUAL r106.8 r105.7 99.0 r113.3 r101.3 r106.1 1997 I r109.4 r108.0 98.7 r116.1 r102.0 r106.1 II 109.6 108.3 98.7 117.1 102.6 106.8 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1995 1996 I II III IV r1.3 r5.1 r3.3 r1.2 r1.4 r-1.3 r-0.4 r-1.8 0.1 -6.0 -3.5 -3.0 r1.7 r4.7 r4.4 r4.6 r-1.0 r1.6 r2.3 r2.1 r0.5 r-0.3 r1.1 r3.3 ANNUAL 2.3 1.2 -1.1 r3.2 r0.4 r0.9 I II III IV 1.7 1.0 4.6 5.5 -1.9 1.6 3.7 5.9 -3.5 0.5 -0.9 0.4 r3.8 r4.0 r3.9 r4.3 r0.5 r0.6 r1.2 r0.9 r2.1 r2.9 r-0.6 r-1.1 ANNUAL r2.3 r0.2 -2.1 r4.0 r1.0 r1.7 1997 I r2.7 r2.1 -0.6 r3.4 r1.0 r0.7 II 0.9 1.1 0.2 3.4 2.3 2.5 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1995 1996 1997 I II III IV r1.6 1.8 r2.8 r2.7 r3.2 r1.3 r1.0 r-0.5 1.6 -0.5 -1.8 -3.1 r2.1 r3.0 r3.4 r3.9 r-0.7 r0.0 r0.7 r1.2 r0.5 r1.2 r0.5 r1.1 ANNUAL 2.3 1.2 -1.1 r3.2 r0.4 r0.9 I II III IV r2.8 r1.8 2.1 3.2 r-1.3 r-0.6 r0.4 2.3 -4.0 -2.4 -1.7 -0.9 r4.4 r4.2 r4.1 4.0 r1.6 r1.3 r1.1 0.8 r1.5 r2.4 r1.9 0.8 ANNUAL r2.3 r0.2 -2.1 r4.0 r1.0 r1.7 I r3.4 r3.3 -0.1 3.9 0.9 r0.5 II 3.4 3.2 -0.2 3.8 1.4 0.3 -------------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 r=revised Source: Bureau of Labor Statistics Table 6. Nonfinancial corporations: and prices, seasonally adjusted Productivity, hourly compensation, unit labor costs, unit profits, Output Hourly Real Unit Total Unit Implicit Year per allcompenhourly Unit nonunit proprice and employee Employee sation compenlabor labor costs fits deflator quarter hour Output hours (1) sation(2) costs costs(6) (7) (8) (4) ---------------------------------------------------------------------------------------------------------Indexes 1992=100 1995 1996 I II III IV r103.0 r103.5 r104.7 r105.2 r112.3 r112.9 r114.9 r115.9 r109.1 r109.1 r109.7 r110.2 105.2 r106.0 r106.6 r107.3 97.8 r97.7 r97.8 r97.8 r102.2 r102.4 r101.9 r102.0 r99.8 r100.1 r99.0 r99.1 r101.6 r101.8 r101.1 r101.2 r135.2 r134.9 r145.5 r147.3 r104.6 r104.8 r105.1 r105.4 ANNUAL r104.1 r114.0 r109.5 r106.3 r97.9 r102.1 r99.5 r101.4 r140.8 r105.0 I II III IV r105.6 r106.4 r107.0 r107.6 r116.5 r118.7 r120.0 r121.5 r110.4 r111.5 r112.1 r113.0 r107.8 r109.0 r109.9 r110.7 r97.5 r97.8 r97.9 r97.8 r102.1 r102.4 r102.7 r102.9 r99.2 r98.4 r98.1 r97.4 r101.4 r101.4 r101.5 r101.5 r152.5 r154.7 r156.0 r156.4 r106.0 r106.2 r106.4 r106.5 ANNUAL r106.6 r119.2 r111.8 r109.4 r97.8 r102.6 r98.3 r101.4 r154.9 r106.3 1997 I r108.1 r123.3 r114.1 r111.9 r98.3 r103.5 r97.0 r101.8 r157.9 106.9 ---------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1995 1996 I II III IV r-3.1 r1.9 r4.8 r2.1 r0.0 r2.0 7.2 r3.8 3.2 r0.1 r2.3 r1.7 2.4 r3.0 r2.5 r2.5 r-0.4 r-0.1 r0.4 r0.1 r5.6 r1.0 r-2.2 r0.4 r2.8 r1.0 r-4.2 r0.4 r4.9 r1.0 r-2.7 r0.4 r-18.1 r-0.8 r35.4 r4.9 r1.8 r0.8 r1.3 r1.0 ANNUAL r0.8 r3.7 r2.9 r2.3 r-0.5 r1.5 r-0.2 r1.1 r4.7 r1.5 I II III r1.3 r3.3 r2.3 r2.0 r7.6 r4.3 r0.7 r4.2 r2.0 r2.0 r4.4 r3.4 r-1.2 r1.0 r0.7 r0.7 r1.1 r1.1 r0.6 r-3.1 r-1.4 r0.7 r0.0 r0.5 r15.0 r5.8 r3.5 r2.4 r0.7 r0.9 IV r2.0 r5.2 3.2 r2.9 r-0.4 r0.9 r-2.8 r0.0 r1.0 0.1 ANNUAL r2.4 4.5 r2.1 r2.9 r-0.1 r0.4 r-1.2 r0.0 r10.0 r1.2 1997 I r1.9 r6.1 r4.1 r4.3 r1.9 r2.3 r-1.8 r1.3 r3.8 r1.6 ---------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1995 1996 I II III IV r-0.6 r0.4 r1.5 r1.4 r3.9 r3.5 r4.3 r3.2 r4.6 r3.0 r2.7 r1.8 r1.6 r2.2 r2.5 r2.6 r-1.3 r-0.8 r-0.1 r0.0 r2.2 r1.8 r1.0 r1.2 r-1.7 r1.3 r-0.5 r0.0 r1.2 r1.7 r0.6 r0.9 r6.6 r1.9 r6.7 r3.6 1.8 r1.7 r1.3 r1.2 ANNUAL r0.8 r3.7 r2.9 r2.3 r-0.5 r1.5 r-0.2 r1.1 r4.7 r1.5 I II III IV r2.5 r2.9 2.3 r2.2 r3.7 r5.1 r4.4 r4.8 r1.2 r2.2 r2.1 r2.5 r2.5 r2.9 r3.1 r3.2 r-0.2 r0.0 r0.1 r0.0 r0.0 r0.0 r0.8 r1.0 r-0.6 r-1.6 r-0.9 -1.7 r-0.2 r-0.4 r0.4 r0.3 r12.8 r14.6 r7.2 r6.2 1.4 1.3 r1.2 r1.0 ANNUAL r2.4 4.5 r2.1 r2.9 r-0.1 r0.4 r-1.2 r0.0 r10.0 r1.2 1997 I r2.4 r5.8 r3.3 r3.8 r0.8 r1.3 r-2.3 0.4 r3.5 r0.8 ---------------------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 r=revised Source: Bureau of Labor Statistics SOURCES: Output data are from the Bureau of Economic Analysis and the Census Bureau of the U.S. Department of Commerce; the Bureau of Labor Statistics, U.S. Department of Labor; and the Federal Reserve Board. Compensation and hours data are from the Bureau of Labor Statistics 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 second revisions after an additional 60 days. 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 output divided by the output index. (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) Unit nonlabor costs include capital consumption allowances, interest, rental income of persons, and indirect taxes. For nonfinancial corporations, rental income of persons is zero by definition. (7) Total unit costs are the sum of unit labor and nonlabor costs. (8) Unit profits include corporate profits with inventory valuation and capital consumption adjustments. Appendix table 1. Business sector: Productivity, hourly compensation, unit labor costs, and prices, seasonally adjusted Real Year Output per Hours CompensacompensaUnit Unit nonImplicit and hour of of all tion per tion per labor labor pay- price quarter all persons Output persons hour (1) hour (2) costs ments (3) deflator (4) --------------------------------------------------------------------------------------------------------Indexes 1992=100 1992 1993 1994 I II III IV 99.4 99.9 99.7 101.0 98.8 99.6 99.8 101.7 99.5 99.7 100.1 100.7 98.6 99.5 100.7 101.2 99.7 99.8 100.2 99.9 99.3 99.6 101.0 100.1 99.2 99.9 98.6 102.2 99.3 99.7 100.1 100.9 ANNUAL 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 I II III IV 100.1 99.7 99.9 101.0 101.4 102.1 102.8 104.6 101.4 102.4 102.9 103.6 101.8 102.4 102.9 103.3 99.8 99.7 99.6 99.2 101.7 102.7 103.0 102.3 101.7 101.5 102.2 105.3 101.7 102.3 102.7 103.4 ANNUAL 100.2 102.7 102.6 102.6 99.6 102.4 102.7 102.5 I II III IV 100.7 100.7 100.5 100.7 105.2 106.9 107.3 108.5 104.5 106.1 106.7 107.7 104.0 104.0 104.4 105.1 99.5 98.8 98.3 98.3 103.3 103.2 103.9 104.3 104.9 106.5 107.4 108.3 103.9 104.4 105.1 105.8 ANNUAL 100.6 107.0 106.3 104.3 98.7 103.7 106.8 104.8 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1992 1993 1994 I II III IV 8.0 2.2 -0.7 5.4 6.2 3.2 0.8 7.9 -1.6 0.9 1.5 2.3 7.9 3.6 4.7 2.0 5.0 0.5 1.6 -1.5 0.0 1.4 5.5 -3.2 8.2 3.0 -5.2 15.1 2.8 2.0 1.5 3.0 ANNUAL 3.4 3.2 -0.2 5.2 2.1 1.7 3.5 2.4 I II III IV -3.8 -1.3 0.7 4.3 -1.2 2.7 2.8 7.1 2.7 4.0 2.0 2.7 2.5 2.5 1.8 1.6 -0.4 -0.4 -0.1 -1.6 6.6 3.9 1.0 -2.6 -1.7 -1.0 2.8 12.7 3.5 2.1 1.6 2.7 ANNUAL 0.2 2.7 2.6 2.6 -0.4 2.4 2.7 2.5 I II III IV -0.9 0.0 -0.7 0.7 2.6 6.4 1.5 4.5 3.5 6.3 2.3 3.8 3.0 -0.2 1.7 2.5 0.9 -2.5 -2.0 0.0 3.9 -0.2 2.4 1.8 -1.3 6.3 3.2 3.6 2.0 2.1 2.7 2.5 ANNUAL 0.4 4.1 3.7 1.6 -0.9 1.2 4.0 2.2 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1992 1993 1994 I II III IV 3.6 3.3 2.7 3.7 2.6 2.8 2.7 4.5 -1.0 -0.5 0.0 0.8 5.6 5.1 5.2 4.5 2.7 2.0 2.1 1.4 2.0 1.7 2.4 0.9 3.8 3.6 1.5 5.0 2.6 2.4 2.1 2.3 ANNUAL 3.4 3.2 -0.2 5.2 2.1 1.7 3.5 2.4 I II III IV 0.7 -0.2 0.2 -0.1 2.6 2.5 3.0 2.8 1.9 2.7 2.8 2.9 3.2 2.9 2.2 2.1 0.0 -0.2 -0.6 -0.7 2.5 3.1 2.0 2.2 2.5 1.5 3.6 3.0 2.5 2.5 2.6 2.5 ANNUAL 0.2 2.7 2.6 2.6 -0.4 2.4 2.7 2.5 I II III IV 0.7 1.0 0.6 -0.2 3.8 4.7 4.4 3.7 3.1 3.6 3.7 4.0 2.2 1.5 1.5 1.7 -0.3 -0.8 -1.3 -0.9 1.5 0.5 0.9 2.0 3.1 5.0 5.1 2.9 2.1 2.1 2.4 2.3 ANNUAL 0.4 4.1 3.7 1.6 -0.9 1.2 4.0 2.2 --------------------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 Source: Bureau of Labor Statistics Appendix table 2. Nonfarm business sector: Year Output per Productivity, hourly compensation, unit labor costs, and prices, seasonally adjusted Real Hours CompensacompensaUnit Unit nonImplicit and hour of of all tion per tion per labor labor pay- price quarter all persons Output persons hour (1) hour (2) costs ments (3) deflator (4) --------------------------------------------------------------------------------------------------------Indexes 1992=100 1992 1993 1994 I II III IV 99.3 100.0 99.7 101.1 98.8 99.6 99.8 101.8 99.5 99.6 100.1 100.7 98.6 99.6 100.7 101.2 99.7 99.9 100.2 99.9 99.2 99.6 101.0 100.1 99.2 100.0 98.4 102.3 99.2 99.8 100.1 100.9 ANNUAL 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 I II III IV 100.1 99.6 100.0 100.8 101.6 102.3 103.2 104.8 101.5 102.6 103.2 103.9 101.6 102.1 102.5 103.0 99.6 99.4 99.3 98.9 101.6 102.5 102.5 102.1 102.3 101.8 102.9 105.5 101.8 102.3 102.6 103.3 ANNUAL 100.1 103.0 102.8 102.3 99.3 102.2 103.1 102.5 I II III IV 100.6 100.7 100.4 100.8 105.2 106.9 107.3 108.6 104.6 106.1 106.8 107.8 103.8 103.9 104.2 105.0 99.2 98.7 98.1 98.2 103.2 103.1 103.8 104.2 105.0 107.0 108.1 109.2 103.8 104.5 105.3 106.0 ANNUAL 100.5 107.0 106.4 104.1 98.5 103.6 107.4 104.9 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1992 1993 1994 I II III IV 7.1 2.6 -1.2 5.9 5.6 3.0 0.7 8.4 -1.4 0.4 1.9 2.4 7.7 4.3 4.4 2.0 4.8 1.1 1.2 -1.5 0.5 1.6 5.6 -3.7 7.7 2.9 -6.0 16.9 3.0 2.1 1.4 3.2 ANNUAL 3.2 3.0 -0.2 5.2 2.1 1.9 3.3 2.4 I II III IV -4.0 -1.8 1.7 3.3 -0.8 2.6 3.9 6.1 3.3 4.5 2.2 2.7 1.9 2.0 1.6 1.7 -1.0 -0.9 -0.3 -1.6 6.1 3.9 -0.1 -1.5 -0.1 -2.0 4.5 10.5 3.8 1.7 1.5 2.6 ANNUAL 0.1 3.0 2.8 2.3 -0.7 2.2 3.1 2.5 I II III IV -1.1 0.6 -1.1 1.3 1.6 6.6 1.5 5.0 2.8 5.9 2.6 3.7 3.2 0.3 1.3 2.8 1.2 -2.0 -2.3 0.3 4.4 -0.2 2.4 1.6 -1.8 7.7 4.4 4.0 2.1 2.5 3.2 2.4 ANNUAL 0.4 3.9 3.5 1.7 -0.8 1.4 4.1 2.3 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1992 1993 1994 I II III IV 3.3 3.2 2.4 3.5 2.5 2.7 2.5 4.4 -0.8 -0.5 0.1 0.8 5.6 5.2 5.2 4.5 2.6 2.1 2.0 1.4 2.2 1.9 2.7 1.0 3.5 3.7 1.1 5.0 2.7 2.6 2.1 2.4 ANNUAL 3.2 3.0 -0.2 5.2 2.1 1.9 3.3 2.4 I II III IV 0.8 -0.3 0.4 -0.2 2.8 2.7 3.5 2.9 2.0 3.0 3.1 3.2 3.1 2.6 1.9 1.8 -0.1 -0.5 -0.9 -0.9 2.3 2.9 1.5 2.0 3.1 1.8 4.6 3.1 2.6 2.5 2.5 2.4 ANNUAL 0.1 3.0 2.8 2.3 -0.7 2.2 3.1 2.5 I II III IV 0.5 1.1 0.4 -0.1 3.6 4.5 3.9 3.6 3.0 3.4 3.5 3.7 2.1 1.7 1.6 1.9 -0.4 -0.7 -1.2 -0.7 1.6 0.6 1.2 2.0 2.7 5.1 5.1 3.5 2.0 2.2 2.6 2.6 ANNUAL 0.4 3.9 3.5 1.7 -0.8 1.4 4.1 2.3 --------------------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 Source: Bureau of Labor Statistics Appendix table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor costs, seasonally adjusted Real Year Output per Hours CompensacompensaUnit and hour of of all tion per tion per labor quarter all persons Output persons hour (1) hour (2) costs -------------------------------------------------------------------------------------------------Indexes 1992=100 1992 1993 1994 I II III IV 98.7 99.6 100.4 101.1 98.3 99.8 100.4 101.6 99.5 100.2 100.0 100.4 98.6 99.7 100.6 101.0 99.7 100.0 100.2 99.7 99.9 100.0 100.2 99.9 ANNUAL 100.0 100.0 100.0 100.0 100.0 100.0 I II III IV 102.0 102.0 101.9 102.7 102.8 103.2 103.4 104.9 100.8 101.2 101.5 102.1 101.4 102.5 103.3 104.3 99.4 99.7 100.1 100.2 99.5 100.5 101.4 101.5 ANNUAL 102.2 103.6 101.4 102.9 99.9 100.7 I II III 103.7 104.8 105.2 106.2 108.1 109.3 102.4 103.1 104.0 105.1 105.3 105.9 100.5 100.0 99.8 101.3 100.4 100.7 IV 105.7 111.1 105.1 106.6 99.8 100.9 ANNUAL 104.7 108.7 103.8 105.6 100.0 100.8 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1992 1993 1994 I II III IV 3.4 3.7 2.9 3.1 0.9 6.3 2.3 5.0 -2.5 2.5 -0.7 1.8 4.5 4.5 3.6 1.7 1.8 1.3 0.5 -1.8 1.1 0.7 0.7 -1.4 ANNUAL 3.8 3.2 -0.6 4.5 1.4 0.7 I II III IV 3.3 0.0 -0.2 3.3 5.0 1.5 1.0 5.5 1.6 1.5 1.2 2.1 1.8 4.1 3.5 3.6 -1.2 1.1 1.6 0.4 -1.5 4.1 3.7 0.3 ANNUAL 2.2 3.6 1.4 2.9 -0.1 0.7 I II III IV 4.0 4.3 1.2 2.1 5.2 7.4 4.6 6.6 1.2 3.0 3.3 4.4 3.4 0.5 2.6 2.7 1.3 -1.9 -1.1 0.1 -0.6 -3.7 1.3 0.5 ANNUAL 2.5 4.9 2.4 2.6 0.0 0.1 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1992 1993 1994 I II III IV 4.0 4.1 3.1 3.3 2.7 3.9 2.6 3.6 -1.2 -0.2 -0.5 0.3 4.9 4.7 4.2 3.6 1.9 1.5 1.1 0.4 0.9 0.6 1.1 0.3 ANNUAL 3.8 3.2 -0.6 4.5 1.4 0.7 I II III IV 3.3 2.3 1.5 1.6 4.6 3.4 3.1 3.2 1.3 1.1 1.5 1.6 2.9 2.8 2.7 3.2 -0.3 -0.3 -0.1 0.5 -0.4 0.4 1.2 1.6 ANNUAL 2.2 3.6 1.4 2.9 -0.1 0.7 I II III IV 1.7 2.8 3.2 2.9 3.3 4.8 5.7 5.9 1.5 1.9 2.4 3.0 3.6 2.7 2.5 2.3 1.1 0.3 -0.3 -0.4 1.9 -0.1 -0.7 -0.6 ANNUAL 2.5 4.9 2.4 2.6 0.0 0.1 -------------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 Source: Bureau of Labor Statistics Appendix table 4. Durable manufacturing sector: seasonally adjusted Productivity, hourly compensation, and unit labor costs, Real Year Output per Hours CompensacompensaUnit and hour of of all tion per tion per labor quarter all persons Output persons hour (1) hour (2) costs -------------------------------------------------------------------------------------------------Indexes 1992=100 1992 1993 1994 I II III IV 98.1 99.9 100.4 101.5 97.8 100.0 100.3 101.9 99.7 100.1 99.9 100.4 98.6 99.7 100.6 100.9 99.7 100.0 100.2 99.6 100.6 99.8 100.2 99.4 ANNUAL 100.0 100.0 100.0 100.0 100.0 100.0 I II III IV 102.8 103.3 102.7 104.9 103.6 104.3 104.5 107.5 100.8 101.0 101.7 102.5 101.5 102.7 103.5 104.6 99.5 99.9 100.3 100.5 98.8 99.4 100.8 99.7 ANNUAL 103.5 105.0 101.5 103.1 100.1 99.7 I II III IV 106.4 107.6 108.6 109.2 109.7 112.0 114.2 116.5 103.1 104.0 105.2 106.7 105.2 105.3 105.8 106.4 100.6 100.0 99.6 99.6 98.9 97.8 97.5 97.4 ANNUAL 107.8 113.1 105.0 105.5 99.9 97.9 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1992 1993 1994 I II III IV 5.1 7.6 2.2 4.3 2.1 9.2 1.4 6.3 -2.9 1.5 -0.8 1.9 4.9 4.5 3.7 1.2 2.1 1.4 0.6 -2.3 -0.2 -2.8 1.5 -3.0 ANNUAL 5.9 4.3 -1.4 4.8 1.7 -1.0 I II III IV 5.1 2.1 -2.2 8.8 6.9 2.9 0.6 12.2 1.7 0.8 2.9 3.1 2.5 4.8 3.3 4.1 -0.4 1.8 1.4 0.8 -2.5 2.6 5.6 -4.3 ANNUAL 3.5 5.0 1.5 3.1 0.1 -0.3 I II III IV 5.8 4.8 3.4 2.5 8.3 8.5 8.2 8.4 2.4 3.5 4.7 5.8 2.5 0.0 2.1 2.5 0.5 -2.3 -1.6 -0.1 -3.1 -4.6 -1.3 0.0 ANNUAL 4.2 7.7 3.4 2.3 -0.3 -1.8 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1992 1993 1994 I II III IV 5.9 7.0 5.0 4.8 3.7 5.4 3.6 4.7 -2.1 -1.5 -1.4 -0.1 5.2 5.1 4.4 3.6 2.3 2.0 1.3 0.4 -0.6 -1.8 -0.6 -1.2 ANNUAL 5.9 4.3 -1.4 4.8 1.7 -1.0 I II III IV 4.8 3.4 2.3 3.4 5.9 4.4 4.2 5.6 1.1 0.9 1.8 2.1 3.0 3.0 2.9 3.7 -0.2 -0.1 0.1 0.9 -1.7 -0.4 0.6 0.3 ANNUAL 3.5 5.0 1.5 3.1 0.1 -0.3 I II III IV 3.5 4.2 5.7 4.1 5.9 7.3 9.3 8.4 2.3 3.0 3.4 4.1 3.7 2.5 2.2 1.8 1.1 0.1 -0.7 -0.9 0.1 -1.7 -3.3 -2.3 ANNUAL 4.2 7.7 3.4 2.3 -0.3 -1.8 -------------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 Source: Bureau of Labor Statistics Appendix table 5. Nondurable manufacturing sector: seasonally adjusted Productivity, hourly compensation, and unit labor costs, Real Year Output per Hours CompensacompensaUnit and hour of of all tion per tion per labor quarter all persons Output persons hour (1) hour (2) costs -------------------------------------------------------------------------------------------------Indexes 1992=100 1992 1993 1994 I II III IV 99.4 99.4 100.4 100.8 98.6 99.6 100.4 101.3 99.3 100.2 100.1 100.5 98.5 99.7 100.6 101.2 99.6 100.0 100.1 99.9 99.2 100.3 100.2 100.3 ANNUAL 100.0 100.0 100.0 100.0 100.0 100.0 I II III IV 101.1 100.4 101.1 100.5 102.0 101.9 102.3 102.0 100.9 101.5 101.2 101.5 101.3 102.1 103.0 103.6 99.3 99.4 99.7 99.6 100.2 101.7 101.9 103.1 ANNUAL 100.8 102.1 101.2 102.6 99.6 101.7 I II III IV 101.3 102.3 102.1 102.5 102.6 104.3 104.5 105.6 101.4 101.9 102.3 102.9 104.8 105.1 105.9 106.6 100.2 99.9 99.7 99.7 103.5 102.7 103.7 103.9 ANNUAL 102.0 104.2 102.2 105.5 99.9 103.5 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1992 1993 1994 I II III IV 2.4 -0.1 4.1 1.8 0.4 3.8 3.6 3.6 -1.9 3.8 -0.5 1.7 4.1 4.6 3.6 2.4 1.3 1.5 0.5 -1.1 1.7 4.7 -0.5 0.6 ANNUAL 1.7 2.3 0.6 4.3 1.2 2.5 I II III IV 1.1 -2.6 2.5 -2.1 2.6 -0.2 1.6 -1.2 1.5 2.4 -0.9 0.9 0.6 3.2 3.4 2.6 -2.3 0.3 1.5 -0.6 -0.5 6.0 0.8 4.8 ANNUAL 0.8 2.1 1.2 2.6 -0.4 1.7 I II III IV 2.9 4.2 -0.9 1.8 2.5 6.5 0.7 4.3 -0.5 2.2 1.6 2.5 4.6 1.1 3.1 2.6 2.5 -1.3 -0.6 0.1 1.6 -3.0 4.0 0.8 ANNUAL 1.2 2.1 1.0 2.9 0.3 1.7 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1992 1993 1994 I II III IV 2.0 1.1 1.3 2.1 1.9 2.7 2.0 2.8 -0.1 1.6 0.7 0.8 4.5 4.3 4.1 3.7 1.6 1.2 1.0 0.6 2.5 3.2 2.8 1.6 ANNUAL 1.7 2.3 0.6 4.3 1.2 2.5 I II III IV 1.7 1.1 0.7 -0.3 3.4 2.4 1.9 0.7 1.6 1.3 1.2 1.0 2.8 2.5 2.4 2.5 -0.3 -0.6 -0.4 -0.3 1.1 1.4 1.7 2.7 ANNUAL 0.8 2.1 1.2 2.6 -0.4 1.7 I II III IV 0.2 1.9 1.0 2.0 0.6 2.3 2.1 3.5 0.5 0.4 1.1 1.5 3.4 2.9 2.8 2.8 0.9 0.5 0.0 0.2 3.3 1.0 1.8 0.8 ANNUAL 1.2 2.1 1.0 2.9 0.3 1.7 -------------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 Source: Bureau of Labor Statistics Appendix table 6. Nonfinancial corporations: prices, seasonally adjusted Productivity, hourly compensation, unit labor costs, unit profits, and Output Hourly Real Unit Total Unit Implicit Year per allcompenhourly Unit nonunit proprice and employee Employee sation compenlabor labor costs fits deflator quarter hour Output hours (1) sation(2) costs costs(6) (7) (8) (4) ---------------------------------------------------------------------------------------------------------Indexes 1992=100 1992 1993 1994 I II III IV 99.2 99.4 100.1 101.3 98.6 99.3 100.1 102.0 99.4 99.8 100.0 100.7 98.6 99.6 100.6 101.2 99.7 100.0 100.2 99.9 99.5 100.2 100.5 99.9 100.4 99.6 101.3 98.8 99.7 100.0 100.7 99.6 97.9 98.8 94.2 108.8 99.5 99.9 100.1 100.4 ANNUAL 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 I II 100.3 100.8 101.5 102.8 101.1 101.9 101.5 101.9 99.5 99.1 101.2 101.1 99.9 99.1 100.8 100.6 105.4 110.1 101.3 101.4 III IV 101.2 102.2 103.8 105.7 102.6 103.4 102.2 102.6 99.0 98.5 101.0 100.3 99.5 99.0 100.6 100.0 112.6 124.8 101.7 102.2 ANNUAL 101.2 103.4 102.2 102.1 99.1 100.9 99.4 100.5 113.3 101.7 I II III IV 103.6 103.0 103.1 103.8 108.1 109.1 110.2 112.3 104.3 105.9 106.8 108.3 103.6 103.7 104.0 104.6 99.0 98.5 97.9 97.9 100.0 100.6 100.9 100.8 101.5 98.8 99.5 99.1 100.4 100.1 100.5 100.3 126.9 132.4 136.3 142.1 102.8 103.1 103.7 104.1 ANNUAL 103.3 109.9 106.4 103.9 98.4 100.6 99.7 100.3 134.5 103.4 ---------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1992 1993 1994 I II III IV 4.2 1.0 2.9 4.8 4.3 2.7 3.6 7.7 0.1 1.6 0.7 2.8 5.8 4.1 4.2 2.1 3.0 0.9 1.1 -1.4 1.5 3.0 1.2 -2.6 -8.5 -3.1 6.8 -9.5 -1.2 1.4 2.7 -4.4 30.6 3.6 -17.4 78.1 1.2 1.6 0.7 1.2 ANNUAL 2.6 3.0 0.4 4.6 1.5 2.0 -2.9 0.7 6.5 1.2 I II III IV -4.0 2.1 1.6 4.0 -2.1 5.2 4.2 7.3 1.9 3.1 2.6 3.2 1.2 1.6 1.2 1.4 -1.7 -1.3 -0.6 -1.8 5.4 -0.4 -0.3 -2.5 4.7 -3.1 1.6 -2.0 5.2 -1.1 0.1 -2.4 -12.2 19.1 9.5 51.0 3.4 0.7 1.0 2.2 ANNUAL 1.2 3.4 2.2 2.1 -0.9 0.9 -0.6 0.5 13.3 1.7 I II III IV 5.5 -2.1 0.4 2.5 9.4 3.9 4.0 8.1 3.7 6.1 3.6 5.4 4.0 0.3 1.3 2.2 1.9 -2.0 -2.3 -0.3 -1.4 2.5 1.0 -0.3 10.4 -10.2 2.7 -1.4 1.6 -1.0 1.4 -0.6 6.8 18.5 12.6 18.1 2.1 1.1 2.7 1.5 ANNUAL 2.1 6.3 4.1 1.8 -0.8 -0.3 0.3 -0.2 18.7 1.8 ---------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1992 1993 1994 I II III IV 2.1 2.1 2.5 3.2 1.7 2.5 3.1 4.5 -0.4 0.5 0.6 1.3 4.9 4.5 4.6 4.0 1.9 1.4 1.4 0.9 2.8 2.4 2.0 0.8 -2.5 -3.5 -1.8 -3.8 1.4 0.8 1.0 -0.4 1.2 5.0 1.1 18.8 1.3 1.2 1.0 1.2 ANNUAL 2.6 3.0 0.4 4.6 1.5 2.0 -2.9 0.7 6.5 1.2 I II III IV 1.1 1.4 1.1 0.9 2.9 3.5 3.7 3.6 1.7 2.1 2.6 2.7 2.9 2.3 1.6 1.4 -0.3 -0.8 -1.2 -1.3 1.7 0.9 0.5 0.5 -0.5 -0.5 -1.7 0.3 1.2 0.5 -0.1 0.4 7.6 11.4 19.5 14.7 1.7 1.5 1.6 1.8 ANNUAL 1.2 3.4 2.2 2.1 -0.9 0.9 -0.6 0.5 13.3 1.7 I II III IV 3.3 2.2 1.9 1.5 6.5 6.2 6.1 6.3 3.2 3.9 4.2 4.7 2.1 1.7 1.8 2.0 -0.4 -0.6 -1.1 -0.7 -1.2 -0.5 -0.1 0.4 1.6 -0.3 0.0 0.1 -0.5 -0.4 -0.1 0.3 20.4 20.3 21.1 13.9 1.5 1.6 2.0 1.8 ANNUAL 2.1 6.3 4.1 1.8 -0.8 -0.3 0.3 -0.2 18.7 1.8 ---------------------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 Source: Bureau of Labor Statistics Appendix table 7. Manufacturing sector: Productivity, hourly compensation, and unit labor costs, Indexes 1992=100 Real Output per Hours CompensacompensaUnit hour of of all tion per tion per labor Year all persons Output persons hour (1) hour (2) costs ----------------------------------------------------------------------------------------------1949 33.5 26.5 79.2 8.3 48.8 24.7 1950 1951 1952 1953 1954 34.0 33.7 35.0 36.0 36.9 29.1 31.0 32.7 35.4 33.2 85.6 92.2 93.4 98.2 89.7 8.7 9.6 10.2 10.8 11.3 50.6 51.7 54.0 56.6 58.7 25.6 28.4 29.2 29.9 30.5 1955 1956 1957 1958 1959 38.7 38.6 39.3 39.9 40.5 36.6 37.1 37.2 34.6 37.5 94.7 96.1 94.6 86.7 92.6 11.7 12.4 13.2 13.8 14.3 61.2 64.2 65.8 67.0 69.0 30.2 32.2 33.5 34.6 35.3 1960 1961 1962 1963 1964 41.2 42.6 43.7 45.5 47.4 38.0 38.3 40.9 43.0 45.7 92.2 89.8 93.5 94.5 96.5 14.9 15.3 15.9 16.4 17.1 70.6 72.0 74.0 75.2 77.3 36.1 36.0 36.4 36.1 36.1 1965 1966 1967 1968 1969 48.4 49.0 50.9 52.7 53.4 49.4 53.2 55.1 57.8 59.3 102.1 108.7 108.1 109.7 111.0 17.5 18.2 19.2 20.7 22.2 77.7 79.0 80.8 83.4 85.0 36.1 37.3 37.8 39.3 41.6 1970 1971 1972 1973 1974 55.1 58.7 60.9 62.6 63.3 57.6 59.1 64.1 69.2 68.4 104.5 100.6 105.2 110.5 108.1 23.8 25.3 26.6 28.6 31.8 86.1 87.5 89.2 90.5 90.5 43.2 43.0 43.6 45.7 50.2 1975 1976 1977 1978 1979 65.3 67.9 70.2 71.0 70.6 63.5 69.2 74.6 78.6 79.7 97.3 102.0 106.2 110.7 112.8 35.6 38.6 42.0 45.4 49.8 93.0 95.2 97.2 97.6 96.2 54.6 56.9 59.8 63.9 70.5 1980 1981 1982 1983 1984 71.0 71.9 75.7 78.4 80.8 76.4 77.0 74.3 77.7 85.2 107.6 107.1 98.0 99.0 105.4 55.8 61.3 67.2 69.0 71.4 94.9 94.6 97.7 97.2 96.4 78.5 85.2 88.7 88.0 88.4 1985 1986 1987 1988 1989 83.8 87.6 90.0 91.4 92.6 87.8 90.3 93.5 97.6 99.2 104.7 103.1 103.9 106.8 107.2 75.3 78.6 80.8 84.0 86.8 98.1 100.6 99.8 99.6 98.2 89.8 89.8 89.8 91.9 93.7 1990 1991 1992 1993 1994 94.3 96.4 100.0 102.2 104.7 98.8 96.9 100.0 103.6 108.7 104.9 100.6 100.0 101.4 103.8 91.0 95.7 100.0 102.9 105.6 97.6 98.6 100.0 99.9 100.0 96.5 99.3 100.0 100.7 100.8 1995 108.1 112.5 104.1 108.7 100.1 100.6 1996 111.7 115.6 103.5 112.2 100.3 100.5 ----------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 Source: Bureau of Labor Statistics Appendix table 8. Durable manufacturing sector: and unit labor costs, Indexes 1992=100 Productivity, hourly compensation, Real Output per Hours CompensacompensaUnit hour of of all tion per tion per labor Year all persons Output persons hour (1) hour (2) costs ----------------------------------------------------------------------------------------------1949 31.4 22.7 72.1 8.1 47.8 25.8 1950 1951 1952 1953 1954 33.3 31.8 33.4 35.3 35.3 26.8 28.9 31.1 35.3 31.2 80.4 90.7 93.0 100.1 88.5 8.5 9.5 10.2 10.7 11.2 49.7 51.0 53.8 56.3 58.5 25.6 29.7 30.4 30.4 31.8 1955 1956 1957 1958 1959 37.3 35.8 36.3 35.9 36.9 35.3 34.7 34.6 30.3 33.8 94.6 96.8 95.5 84.4 91.6 11.7 12.5 13.2 13.9 14.4 61.3 64.2 65.9 67.7 69.6 31.4 34.8 36.4 38.9 39.1 1960 37.0 33.9 91.4 15.0 71.2 40.6 1961 1962 1963 1964 38.1 39.6 41.7 43.4 33.5 36.8 39.4 42.1 87.9 92.8 94.5 97.2 15.5 16.1 16.5 17.2 72.5 74.7 75.8 77.8 40.6 40.6 39.6 39.6 1965 1966 1967 1968 1969 45.1 45.9 47.5 49.2 49.7 47.1 52.0 53.5 56.1 57.6 104.3 113.3 112.5 114.1 115.8 17.5 18.3 19.2 20.7 22.2 78.0 79.1 80.7 83.4 84.9 38.8 39.8 40.4 42.1 44.7 1970 1971 1972 1973 1974 50.5 54.4 57.4 59.9 59.8 53.9 55.1 61.5 69.2 67.8 106.7 101.2 107.1 115.4 113.4 23.9 25.5 26.8 28.7 31.8 86.3 88.2 89.9 90.7 90.5 47.2 46.8 46.7 47.9 53.2 1975 1976 1977 1978 1979 60.7 63.2 65.2 66.0 66.0 60.6 66.0 71.9 77.0 79.4 99.8 104.4 110.2 116.7 120.3 35.9 39.0 42.4 45.5 49.9 93.7 96.2 98.1 97.9 96.4 59.2 61.8 65.0 68.9 75.7 1980 1981 1982 1983 1984 65.7 66.6 69.2 73.3 77.2 74.4 74.9 69.7 74.2 85.2 113.2 112.4 100.7 101.3 110.4 56.1 61.7 67.8 69.3 71.3 95.6 95.3 98.5 97.6 96.2 85.4 92.8 98.0 94.6 92.3 1985 1986 1987 1988 1989 79.9 84.1 87.1 89.1 90.5 88.1 90.4 93.4 99.1 100.6 110.3 107.5 107.2 111.2 111.1 74.9 78.7 81.0 83.7 86.5 97.7 100.7 100.1 99.3 97.9 93.8 93.5 93.0 94.0 95.6 1990 1991 1992 1993 1994 92.6 94.5 100.0 103.5 107.8 99.5 95.8 100.0 105.0 113.1 107.4 101.4 100.0 101.5 105.0 90.5 95.5 100.0 103.1 105.5 97.2 98.3 100.0 100.1 99.9 97.7 101.0 100.0 99.7 97.9 1995 112.1 119.1 106.3 108.2 99.7 96.6 1996 116.9 125.0 107.0 111.0 99.2 95.0 ----------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 Source: Bureau of Labor Statistics Appendix table 9. Nondurable manufacturing sector: and unit labor costs, Indexes 1992=100 Productivity, hourly compensation, Real Output per Hours CompensacompensaUnit hour of of all tion per tion per labor Year all persons Output persons hour (1) hour (2) costs ----------------------------------------------------------------------------------------------1949 34.3 30.4 88.6 8.6 50.9 25.2 1950 1951 1952 34.5 35.5 36.6 31.9 33.4 34.4 92.5 94.1 93.9 9.0 9.8 10.3 52.5 52.8 54.4 26.1 27.5 28.1 1953 1954 37.2 38.8 35.6 35.4 95.6 91.3 10.8 11.3 56.7 59.2 29.0 29.3 1955 1956 1957 1958 1959 40.4 42.0 43.1 44.5 45.7 38.3 40.0 40.2 40.0 42.9 94.8 95.1 93.2 89.9 93.9 11.7 12.4 13.1 13.7 14.1 61.1 64.0 65.5 66.3 68.1 28.9 29.5 30.4 30.7 30.9 1960 1961 1962 1963 1964 46.8 48.2 49.0 50.8 52.9 43.7 44.5 46.2 48.0 50.5 93.3 92.4 94.4 94.5 95.6 14.7 15.2 15.7 16.2 16.9 69.9 71.5 73.1 74.4 76.5 31.5 31.6 32.1 31.9 32.0 1965 1966 1967 1968 1969 53.2 53.8 56.3 58.4 59.7 52.8 55.3 57.6 60.6 62.5 99.2 102.7 102.3 103.9 104.7 17.3 18.0 19.1 20.5 22.0 77.0 78.1 80.2 82.7 84.2 32.5 33.5 33.9 35.1 36.9 1970 1971 1972 1973 1974 62.1 64.9 67.0 67.9 69.7 63.0 64.8 68.7 70.6 70.3 101.5 99.9 102.6 104.0 100.9 23.6 24.9 26.1 28.2 31.5 85.4 86.3 87.8 89.1 89.5 38.0 38.4 39.0 41.6 45.1 1975 1976 1977 1978 1979 71.8 74.5 77.9 79.2 78.7 67.5 73.6 78.7 81.3 81.0 94.0 98.7 101.0 102.6 102.9 35.0 37.8 41.0 44.5 48.8 91.2 93.1 94.9 95.8 94.4 48.7 50.7 52.6 56.2 62.1 1980 1981 1982 1983 1984 78.9 79.8 83.8 84.9 86.2 79.0 79.7 79.1 81.5 85.2 100.2 99.9 94.4 96.0 98.9 54.4 59.7 65.8 68.2 70.8 92.7 92.2 95.7 96.1 95.7 69.0 74.9 78.5 80.4 82.2 1985 1986 1987 1988 1989 89.6 92.2 94.0 95.0 95.6 87.0 89.8 93.5 95.9 97.4 97.2 97.4 99.5 101.0 102.0 74.8 77.8 79.9 83.7 86.5 97.6 99.6 98.7 99.2 97.9 83.6 84.3 85.0 88.1 90.5 1990 1991 1992 1993 1994 96.5 98.3 100.0 100.8 102.0 97.9 97.7 100.0 102.1 104.2 101.5 99.4 100.0 101.2 102.2 91.1 95.9 100.0 102.6 105.5 97.8 98.8 100.0 99.6 99.9 94.4 97.6 100.0 101.7 103.5 1995 104.4 105.5 101.1 108.9 100.3 104.4 1996 106.8 105.7 99.0 113.3 101.3 106.1 ----------------------------------------------------------------------------------------------See footnotes following Table 6. August 12, 1997 Source: Bureau of Labor Statistics
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