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USDL 99-210 TRANSMISSION OF THIS MATERIAL IS EMBARGOED UNTIL 10:00 A.M. EDT, THURSDAY, AUGUST 5, 1999. Internet address: Historical, technical information: Current data: Media contact: http://stats.bls.gov/lprhome.htm (202) 606-5606 (202) 606-7828 (202) 606-5902 PRODUCTIVITY AND COSTS Second Quarter 1999 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 1999. The preliminary seasonally adjusted annual rates of productivity change in the second quarter were: 1.6 percent in the business sector and 1.3 percent in the nonfarm business sector. In both the business and nonfarm business sectors, productivity grew less in the second quarter than in the first quarter, when output per hour of all persons (as revised) rose 3.9 percent in the business sector and 3.6 percent in the nonfarm business sector. In manufacturing, productivity changes in the second quarter were: 4.9 percent in manufacturing, 9.0 percent in durable goods manufacturing, and -0.3 percent in nondurable goods manufacturing. Productivity rose 4.9 percent in the manufacturing sector in the second quarter as output increased 4.2 percent and hours of all persons fell 0.7 percent. In the first quarter, manufacturing productivity rose 6.3 percent. Output and hours in manufacturing, which includes about 17 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. Secondquarter measures are summarized in table A and appear in detail in tables 1 through 5. ------------------------------------------------------------------------Effective with the release of third-quarter data in November 1999, the Productivity and Costs news release will be issued at 8:30 a.m. E.T. rather than at 10:00 a.m. ------------------------------------------------------------------------------------------------------------------------------------------------Table A. Productivity and costs: Preliminary second-quarter 1999 measures (Seasonally adjusted annual rates) ------------------------------------------------------------------------Real Hourly hourly Unit Produccompencompenlabor Sector tivity Output Hours sation sation costs ------------------------------------------------------------------------Percent change from preceding quarter Business 1.6 2.5 0.9 5.4 1.8 3.8 Nonfarm business 1.3 2.4 1.1 5.1 1.5 3.8 Manufacturing 4.9 4.2 -0.7 6.0 2.4 1.1 Durable 9.0 7.7 -1.2 6.2 2.6 -2.6 Nondurable -0.3 -0.2 0.1 5.8 2.2 6.1 ------------------------------------------------------------------------Percent change from same quarter a year ago Business 3.2 4.7 1.4 4.7 2.6 1.4 Nonfarm business 2.9 4.7 1.7 4.3 2.2 1.4 Manufacturing 5.3 2.7 -2.5 4.4 2.3 -0.8 Durable 8.8 5.8 -2.8 4.1 1.9 -4.3 Nondurable 1.1 -1.0 -2.0 5.1 3.0 4.0 ------------------------------------------------------------------------- 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 on data sources. Business From the first to the second quarter of 1999, business sector productivity increased at a 1.6 percent annual rate, as output rose 2.5 percent and hours of all persons engaged in the sector increased 0.9 percent. As revised, labor productivity rose 3.9 percent in the first quarter as output and hours increased 4.9 and 0.9 percent, respectively (table 1). Hourly compensation increased 5.4 percent in the second quarter and 5.1 percent in the first quarter of 1999. 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 3.8-percent annual rate during the second quarter, up from a 1.1-percent rise in the first quarter of 1999. Real hourly compensation, which takes into account changes in Consumer Price Index for All Urban Consumers (CPI-U), increased at a percent annual rate during the second quarter of 1999 after rising percent in the previous quarter. the 1.8 3.6 The implicit price deflator for the business sector, which reflects changes in unit labor costs and unit nonlabor payments, increased 1.3 percent in the second quarter and 1.0 percent in the first quarter of 1999. Nonfarm business Productivity increased 1.3 percent in the nonfarm business sector during the second quarter of 1999, after rising 3.6 percent in the first quarter (table 2). Output rose 2.4 percent in the second quarter, after increasing 5.0 percent during the first quarter of 1999. Hours of all persons working in the sector increased 1.1 percent in the second quarter. This was the smallest increase in hours since the first quarter of 1996 (when they were unchanged) and followed a 1.3 percent rise in the first quarter of 1999. Hourly compensation increased 5.1 percent in the second quarter, after posting a 4.4 percent rise in the first quarter of 1999. When the rise in the CPI-U is taken into account, real hourly compensation for the second quarter of 1999 rose 1.5 percent. Unit labor costs grew 3.8 percent in the second quarter and 0.8 percent one quarter earlier. The implicit price deflator for nonfarm business output grew 1.6 percent in the second quarter and 1.3 percent in the first quarter of 1999. Manufacturing Productivity increased 4.9 percent in manufacturing, as output rose 4.2 percent and hours of all persons decreased 0.7 percent (seasonally adjusted annual rates). Growth in productivity, output, and hours was quite different in the durable and nondurable goods subsectors. In durable goods, productivity rose 9.0 percent, reflecting output growth of 7.7 percent and a drop of 1.2 percent in hours of all persons. In nondurable goods, productivity fell 0.3 percent in the second quarter, as output declined by 0.2 percent and hours increased 0.1 percent (tables 4 and 5). In the first quarter, total manufacturing productivity rose 6.3 percent, as output increased 1.6 percent and hours declined 4.5 percent (table 3). Labor productivity in manufacturing has risen in every quarter since the third quarter of 1993, when it fell 1.2 percent. Hourly compensation of all manufacturing workers increased 6.0 percent during the second quarter. The trends in the two subsectors were similar; hourly compensation rose 6.2 percent in durable goods and 5.8 percent in nondurable goods. When the increase in consumer prices is taken into account, the real hourly compensation of all manufacturing workers rose 2.4 percent in the second quarter. Unit labor costs in manufacturing rose at a 1.1-percent annual rate in the second quarter. The trends in unit labor costs in the two subsectors were quite different, reflecting the very different growth rates in productivity. Unit labor costs fell 2.6 percent in durable goods manufacturing and rose 6.1 percent in nondurable goods manufacturing. The increase in nondurable goods manufacturing unit labor costs in the second quarter was the largest to occur since a 6.2-percent rise was posted in the second quarter of 1993. Revised Measures Current and previous measures for the first quarter of 1999 for the business, nonfarm business, and manufacturing sectors are compared in table B. In the business and nonfarm business sectors, both the output and hours measures grew more than reported on June 8, based on information then available. The revisions to output and hours were similar and resulted in minor changes to the productivity and unit labor cost measures. Productivity and related measures were little changed in the manufacturing sector. --------------------------------------------------------------------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 1999 Business: Previous 4.1 4.6 0.4 5.0 3.5 0.9 Current 3.9 4.9 0.9 5.1 3.6 1.1 Nonfarm business: Previous 3.5 4.4 0.9 4.2 2.6 0.7 Current 3.6 5.0 1.3 4.4 2.9 0.8 Manufacturing: Previous 6.2 1.6 -4.4 5.1 3.5 -1.1 Current 6.3 1.6 -4.5 5.2 3.7 -1.1 --------------------------------------------------------------------- All labor input measures have been revised to reflect the annual benchmarking process of employment levels derived from the monthly Current Employment Statistics (CES) survey that occurred on June 4. Updated seasonal adjustment factors also have been incorporated into the labor input measures. These revisions extend back to the first quarter of 1994. Appendix tables 1-6 present quarterly and annual measures for 1994-96. Revised measures: Nonfinancial Corporations First-quarter productivity and cost measures for nonfinancial corporations also were revised to incorporate the more recent information on output, compensation, profits, and labor inputs. Productivity growth was revised up, as output grew faster than reported on June 8 while employee hours remained relatively unchanged. Unit labor costs were revised down and now show a decline of 0.1 percent. Unit profits grew at an annual rate of 13.4 percent, compared with the preliminary estimate of 7.7 percent(table C). ----------------------------------------------------------------------------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 1999 Previous 4.2 5.7 1.5 4.7 3.2 0.5 7.7 0.2 Current 5.0 6.7 1.6 4.9 3.4 -0.1 13.4 0.2 ----------------------------------------------------------------------------Next release date The next release of Productivity and Costs is scheduled for 10:00 a.m. EDT, Thursday, Sept. 2, 1999. Revised second-quarter measures for business, nonfarm business, and manufacturing will be released at that time, along with measures for nonfinancial corporations. ----------------------------------------------------------------------------NOTICE: The Nov. 12, 1999, release of "Productivity and Costs" will incorporate a comprehensive, historical revision of the national income and product accounts produced by the Bureau of Economic Analysis, U.S. Department of Commerce. Beginning with that release, BLS also plans to incorporate the Consumer Price Index research series using current methods (CPI-U-RS) into its measure of real hourly compensation. Information on this series is available in "CPI research series using current methods, 1978-98," Monthly Labor Review, June 1999. ----------------------------------------------------------------------------- TECHNICAL NOTES Labor Hours: Hours data for the labor productivity and costs measures include hours for all persons working in the sector--wage and salary workers, the self-employed, and unpaid family workers. The primary source of hours and employment data is the BLS Current Employment Statistics (CES) program, which provides monthly survey data on the number of jobs held by wage and salary workers in nonfarm establishments. The CES also provides average weekly paid hours of production and nonsupervisory workers in these establishments. Average weekly paid hours of nonproduction and supervisory workers are estimated by the Office of Productivity and Technology. 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 owneroccupied 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 1997 1998 I II III IV r104.3 104.8 105.8 106.0 117.8 119.1 120.6 121.7 112.9 r113.7 114.0 r114.7 113.2 113.9 115.0 r116.6 99.5 99.8 100.3 r101.2 108.5 r108.6 r108.7 109.9 r112.3 113.2 r113.9 r112.5 109.9 110.3 110.6 110.8 ANNUAL 105.2 119.8 113.8 114.7 100.3 109.0 112.9 110.4 I II III IV r107.0 r107.0 r107.9 109.0 123.7 124.3 125.5 127.7 r115.7 116.1 116.4 117.2 117.9 119.1 r120.3 121.5 102.1 r102.6 103.2 r103.8 110.2 111.2 111.5 111.5 r112.1 110.5 110.4 110.7 110.9 111.0 111.1 111.2 ANNUAL 107.7 125.3 116.3 119.7 103.0 111.1 110.9 111.0 1999 I 110.1 r129.3 r117.5 123.0 r104.7 r111.8 r110.9 r111.5 II 110.5 130.1 117.7 124.6 105.2 112.8 110.1 111.8 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV r0.5 r1.9 r3.8 r0.9 4.9 4.7 4.9 3.6 r4.4 r2.7 r1.1 r2.6 r3.6 r2.3 r4.1 r5.4 1.0 r1.1 r2.1 r3.5 r3.1 r0.4 r0.3 4.4 r1.6 r3.2 r2.4 r-4.9 2.5 1.4 1.1 0.9 ANNUAL 1.5 4.6 3.1 3.6 1.2 2.1 1.0 1.7 I II III IV ANNUAL r3.6 r0.2 r3.1 r4.3 2.4 7.1 1.7 4.0 7.3 4.6 r3.3 1.6 r0.9 r2.9 2.2 r4.8 r3.9 r4.1 r4.2 4.4 r3.7 r2.1 r2.4 r2.4 2.8 r1.1 r3.7 1.0 -0.1 2.0 r-1.2 r-5.5 r-0.3 1.1 -1.8 0.2 0.3 0.5 0.3 0.6 1999 I r3.9 r4.9 r0.9 r5.1 r3.6 r1.1 r0.7 r1.0 II 1.6 2.5 0.9 5.4 1.8 3.8 -3.0 1.3 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV r1.3 r0.9 r1.9 r1.8 4.7 4.3 4.9 4.5 r3.4 3.3 3.0 r2.7 4.0 3.2 3.3 3.8 1.0 0.9 1.0 1.9 2.6 2.2 1.4 2.0 r0.4 0.9 r2.1 r0.5 1.8 1.8 1.6 1.5 ANNUAL 1.5 4.6 3.1 3.6 1.2 2.1 1.0 1.7 I II III IV 2.6 2.1 1.9 r2.8 5.1 4.3 4.1 5.0 2.4 2.1 2.1 r2.2 4.1 r4.5 4.5 r4.2 2.6 2.9 2.9 r2.6 1.5 2.4 2.5 1.4 -0.2 -2.4 -3.0 -1.5 0.9 0.6 0.5 0.3 ANNUAL 2.4 4.6 2.2 4.4 2.8 2.0 -1.8 0.6 I 2.9 r4.5 r1.6 4.3 2.6 1.4 r-1.1 0.5 II 3.2 4.7 1.4 4.7 2.6 1.4 -0.4 0.8 --------------------------------------------------------------------------------------------------------See footnotes following Table 6. August 5, 1999 r=revised 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 1997 1998 I II III IV 104.1 104.5 105.4 r105.7 117.9 119.2 120.6 121.8 113.3 114.1 r114.4 115.3 112.9 113.6 114.6 116.0 99.2 99.5 99.9 100.7 108.5 108.7 r108.7 109.8 r112.8 113.7 114.6 113.3 110.0 110.4 110.8 111.1 ANNUAL 104.9 119.9 114.3 114.3 99.9 108.9 113.6 110.6 I II III IV r106.5 106.6 107.3 r108.4 123.9 124.4 125.6 127.9 116.3 116.7 117.1 r118.0 117.4 118.5 119.7 r120.8 101.6 102.1 102.7 r103.2 r110.2 111.1 111.5 111.4 r113.1 111.6 r111.5 r111.8 111.2 111.3 111.5 111.5 ANNUAL 107.2 125.5 117.0 119.1 102.5 111.1 112.0 111.4 1999 I 109.4 r129.4 r118.3 122.1 104.0 111.6 r112.5 111.9 II 109.7 130.2 118.7 123.6 104.4 112.7 111.8 112.4 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV r0.0 r1.7 r3.5 r1.0 4.5 4.5 4.8 4.0 r4.5 2.8 r1.2 r2.9 r3.8 r2.3 r3.7 r5.2 r1.2 r1.1 r1.7 r3.3 r3.8 r0.5 r0.2 r4.1 r1.8 r3.2 r3.4 r-4.4 3.1 1.5 1.4 0.9 ANNUAL 1.2 4.5 3.2 3.5 1.2 2.3 1.3 1.9 I II III IV r3.2 r0.4 r2.7 r4.1 7.0 1.7 4.0 7.4 r3.7 1.4 r1.2 r3.1 r4.6 r3.9 r4.1 r3.8 r3.6 r2.0 r2.4 r2.0 r1.4 r3.5 r1.3 -0.4 r-0.8 r-5.4 r-0.3 1.2 0.6 0.2 0.7 0.2 ANNUAL 2.2 4.6 2.4 4.2 2.6 2.0 -1.4 0.7 1999 I r3.6 r5.0 r1.3 r4.4 r2.9 r0.8 r2.4 r1.3 II 1.3 2.4 1.1 5.1 1.5 3.8 -2.3 1.6 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV 1.0 r0.6 r1.6 r1.6 4.6 4.1 4.7 4.4 r3.6 3.4 3.1 r2.8 3.9 3.2 3.2 3.7 0.9 0.8 1.0 1.8 2.9 2.5 r1.6 2.1 0.5 1.3 r2.7 0.9 2.0 2.0 2.0 1.7 ANNUAL 1.2 4.5 3.2 3.5 1.2 2.3 1.3 1.9 I II III IV 2.4 2.0 1.8 r2.6 5.1 4.4 4.1 5.0 2.6 2.3 2.3 2.3 3.9 r4.3 4.4 r4.1 2.4 2.7 2.8 r2.5 1.5 2.3 2.6 1.5 0.3 -1.9 -2.7 -1.4 1.1 0.8 0.6 0.4 ANNUAL 2.2 4.6 2.4 4.2 2.6 2.0 -1.4 0.7 I r2.7 r4.5 1.7 4.0 2.3 r1.3 r-0.6 0.6 II 2.9 4.7 1.7 4.3 2.2 1.4 0.2 1.0 --------------------------------------------------------------------------------------------------------See footnotes following Table 6. August 5, 1999 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 1997 1998 I II III IV 116.7 r118.0 r120.4 r121.6 122.5 124.5 126.8 129.1 105.0 r105.5 r105.3 r106.2 113.1 r114.1 r115.5 r117.7 99.4 r99.9 r100.7 r102.1 r96.9 96.7 95.9 96.8 ANNUAL r119.2 125.7 r105.5 r115.1 r100.6 96.6 I II III IV r122.1 r123.2 r124.6 r126.2 129.9 130.7 130.8 132.4 r106.4 r106.1 r105.0 r104.9 r118.8 r119.5 r120.4 r121.4 r102.8 r103.0 r103.3 r103.8 97.3 97.0 r96.6 96.2 ANNUAL r124.0 130.9 r105.6 r120.0 r103.3 96.8 1999 I r128.2 132.9 r103.7 r123.0 r104.7 95.9 II 129.7 134.2 103.5 124.8 105.3 96.2 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV 4.1 r4.7 r8.4 r4.1 7.2 6.6 7.7 7.5 3.0 r1.8 r-0.6 r3.3 r4.3 r3.4 r5.0 r7.9 r1.7 r2.2 r3.0 r5.9 r0.2 r-1.2 -3.1 r3.7 ANNUAL r4.7 6.5 r1.8 r4.0 r1.7 -0.7 I II III IV r1.5 r3.7 r4.8 5.3 2.4 2.5 0.4 4.8 r0.9 r-1.2 -4.1 -0.5 r3.8 r2.4 r3.1 r3.5 r2.7 r0.6 1.5 r1.7 r2.3 r-1.2 -1.5 r-1.8 ANNUAL r4.0 4.2 r0.1 r4.3 r2.7 0.2 1999 I r6.3 1.6 r-4.5 r5.2 r3.7 -1.1 II 4.9 4.2 -0.7 6.0 2.4 1.1 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV 4.2 r4.2 r5.0 r5.3 6.7 5.9 6.3 7.3 r2.4 r1.6 r1.2 r1.9 3.6 r3.4 r3.9 r5.2 0.6 r1.0 r1.6 r3.2 -0.6 -0.8 -1.1 -0.1 ANNUAL r4.7 6.5 r1.8 r4.0 r1.7 -0.7 I II III IV r4.6 r4.4 r3.5 r3.8 6.0 5.0 3.2 2.5 r1.4 r0.6 r-0.3 r-1.2 r5.0 r4.8 r4.3 r3.2 r3.5 r3.1 r2.7 r1.6 0.4 0.4 0.8 -0.6 ANNUAL r4.0 4.2 r0.1 r4.3 r2.7 0.2 I 5.0 2.3 -2.6 3.5 1.8 -1.4 II 5.3 2.7 -2.5 4.4 2.3 -0.8 -------------------------------------------------------------------------------------------------See footnotes following Table 6. August 5, 1999 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 1997 1998 I II III IV r125.0 r127.3 r131.0 r133.4 136.9 140.3 144.6 148.3 r109.5 r110.2 r110.4 r111.2 r110.6 r111.5 r112.8 r115.4 97.2 r97.7 r98.3 r100.2 88.5 87.6 86.1 86.5 ANNUAL r129.2 142.5 r110.3 r112.6 r98.4 87.1 I II III IV r133.8 r135.8 r138.7 r141.6 149.6 151.3 153.1 156.3 r111.8 r111.4 r110.4 r110.4 r116.0 r116.3 r116.8 r117.8 r100.4 r100.2 r100.3 r100.7 86.7 85.6 84.2 83.2 ANNUAL r137.5 152.6 r111.0 r116.7 r100.5 84.9 1999 I r144.6 r157.1 r108.7 r119.2 r101.5 82.5 II 147.7 160.0 108.3 121.0 102.2 81.9 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV r4.4 r7.6 r12.1 r7.4 10.4 10.4 12.8 10.7 r5.8 r2.6 r0.6 r3.0 r3.8 r3.2 r4.6 r9.8 r1.2 r2.0 r2.6 r7.8 -0.6 -4.1 r-6.7 2.2 ANNUAL r6.3 9.4 r2.9 r3.6 r1.3 -2.6 I II III IV r1.3 r6.1 r8.8 r8.6 3.5 4.6 4.8 8.6 r2.2 r-1.4 r-3.7 r0.0 r1.9 r1.1 r1.8 r3.3 r0.9 r-0.7 r0.2 r1.6 0.6 -4.7 -6.4 -4.9 ANNUAL r6.4 7.0 r0.6 r3.7 r2.1 r-2.6 1999 I r8.6 r2.1 r-6.0 5.0 r3.4 -3.4 II 9.0 7.7 -1.2 6.2 2.6 -2.6 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV r5.3 r5.3 r6.8 r7.8 9.3 8.1 9.3 11.1 r3.8 r2.6 r2.3 r3.0 r2.9 r2.7 r3.3 r5.3 r0.0 r0.4 r1.0 r3.4 -2.3 -2.4 -3.3 -2.3 ANNUAL r6.3 9.4 r2.9 r3.6 r1.3 -2.6 I II III IV r7.0 r6.6 r5.9 r6.1 9.3 7.8 5.9 5.4 r2.1 r1.1 r0.0 r-0.7 r4.8 r4.3 r3.6 r2.0 r3.3 r2.6 r2.0 r0.5 -2.0 -2.2 -2.1 -3.9 ANNUAL r6.4 7.0 r0.6 r3.7 r2.1 r-2.6 I r8.0 r5.0 r-2.8 2.8 1.1 r-4.9 II 8.8 5.8 -2.8 4.1 1.9 -4.3 -------------------------------------------------------------------------------------------------See footnotes following Table 6. August 5, 1999 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 1997 1998 I II III IV 109.8 110.2 r111.3 111.3 108.8 109.3 109.7 110.7 r99.0 99.2 r98.6 r99.5 116.2 117.3 118.9 120.3 102.1 102.7 r103.6 104.4 r105.8 106.4 106.8 r108.1 ANNUAL 110.7 109.6 99.1 118.2 103.3 106.8 I II III IV r111.8 r112.0 r112.0 r112.5 111.0 111.0 109.6 109.7 r99.3 r99.1 97.9 r97.5 r122.2 r123.7 r125.3 r126.4 r105.8 r106.6 r107.5 r108.0 109.3 110.4 111.8 r112.4 ANNUAL r112.1 110.3 r98.4 r124.4 r107.1 111.0 1999 I r113.3 r109.9 r97.0 r128.2 r109.1 r113.1 II 113.2 109.9 97.0 130.0 109.7 114.8 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV r4.3 r1.3 r4.2 -0.1 3.4 1.9 1.7 3.6 r-0.9 r0.7 r-2.4 3.7 r4.7 r3.7 r5.5 r4.9 r2.1 r2.5 r3.5 r3.0 r0.4 r2.4 r1.2 r5.0 ANNUAL 3.0 3.1 0.1 4.5 2.1 1.4 I II III IV r2.0 r0.7 r0.1 1.5 1.1 -0.2 -4.7 0.2 r-0.9 r-0.9 r-4.7 -1.3 r6.7 r4.7 r5.3 r3.6 r5.7 r2.8 r3.6 r1.9 r4.6 r4.0 r5.2 r2.1 ANNUAL r1.3 0.6 r-0.6 r5.3 r3.6 3.9 1999 I r3.0 r0.8 r-2.1 r5.8 r4.3 r2.7 II -0.3 -0.2 0.1 5.8 2.2 6.1 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1999 I II III IV 3.3 3.2 3.1 2.4 3.7 3.4 2.6 2.6 0.4 0.2 r-0.5 0.2 4.3 4.2 4.6 4.7 r1.4 1.9 r2.3 2.8 1.0 1.0 1.5 2.2 ANNUAL 3.0 3.1 0.1 4.5 2.1 1.4 II III IV r1.7 r0.6 r1.1 1.5 -0.1 -0.9 r-0.1 r-0.7 r-2.0 r5.4 r5.4 r5.1 r3.7 r3.7 r3.5 3.7 4.7 4.0 ANNUAL r1.3 0.6 r-0.6 r5.3 r3.6 3.9 I 1.3 r-1.0 r-2.3 r4.8 r3.1 r3.5 II 1.1 -1.0 -2.0 5.1 3.0 4.0 -------------------------------------------------------------------------------------------------See footnotes following Table 6. August 5, 1999 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 1997 1998 I II III IV 108.9 r109.5 r111.0 r111.4 124.3 126.2 128.7 130.2 114.1 115.2 115.9 r116.9 111.8 r112.4 113.6 r115.1 98.2 98.5 99.0 99.8 102.6 102.6 102.3 103.3 97.3 97.1 96.4 95.7 101.2 101.2 100.7 101.3 156.6 157.3 161.7 155.7 106.2 106.3 106.3 106.3 ANNUAL 110.3 127.3 115.4 113.3 99.0 102.7 96.6 101.1 157.8 106.3 I II III IV 112.1 112.9 r114.2 115.1 132.1 133.4 135.4 137.2 r117.8 118.1 118.6 119.3 r116.1 117.3 r118.6 119.7 r100.5 101.1 r101.8 102.3 103.5 103.9 103.8 104.1 95.4 95.5 95.2 96.2 101.4 101.7 101.6 102.0 153.5 150.4 151.8 146.6 106.2 106.1 106.1 106.0 ANNUAL 113.6 134.5 118.4 118.0 101.6 103.8 95.6 101.7 150.5 106.1 1999 I r116.5 r139.5 119.7 r121.2 r103.2 r104.0 r94.7 r101.6 r151.3 106.1 ---------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV r1.5 r2.2 r5.5 r1.2 5.9 6.3 8.2 4.8 r4.3 r4.0 2.5 r3.5 r3.5 r2.4 4.1 r5.3 r0.9 r1.2 2.2 r3.4 2.0 0.2 -1.3 4.0 -0.6 -0.6 -3.1 -2.7 1.4 0.0 -1.8 2.3 3.2 1.7 11.8 -14.1 1.6 0.2 0.0 -0.1 ANNUAL 2.5 6.1 3.6 3.5 1.1 1.0 -1.3 0.4 2.1 0.6 I II III IV 2.7 r2.9 r4.6 r3.1 5.9 4.0 6.1 5.5 3.2 r1.1 r1.5 r2.3 3.6 r4.4 r4.3 r4.0 2.6 r2.5 r2.6 r2.2 0.9 1.5 -0.3 0.8 -1.1 0.1 -0.9 4.0 0.4 1.1 -0.4 1.6 -5.6 -7.7 3.6 -12.9 -0.4 -0.1 0.1 -0.4 ANNUAL 3.0 5.6 2.6 4.1 2.5 1.1 -1.0 0.6 -4.6 -0.1 1999 I r5.0 r6.7 r1.6 r4.9 r3.4 r-0.1 r-6.2 r-1.6 r13.4 0.2 ---------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 I II III IV 2.4 2.1 2.8 r2.6 5.9 5.8 6.4 6.3 3.5 3.6 3.5 3.6 3.7 3.1 3.2 3.8 0.8 0.8 1.0 1.9 1.3 1.0 0.4 1.2 -1.4 -0.8 -1.2 -1.8 0.6 0.5 0.0 0.5 1.9 2.0 4.2 0.2 0.8 0.7 0.5 0.4 ANNUAL 2.5 6.1 3.6 3.5 1.1 1.0 -1.3 0.4 2.1 0.6 I II III IV 2.9 3.1 2.8 r3.3 6.3 5.7 5.2 5.4 3.3 2.6 r2.3 2.0 r3.9 r4.4 r4.4 4.1 2.3 2.7 r2.8 2.5 0.9 1.2 1.5 0.7 -1.9 -1.7 -1.1 0.5 0.2 0.5 0.8 0.7 -2.0 -4.3 -6.2 -5.8 -0.1 -0.1 -0.1 -0.2 ANNUAL 3.0 5.6 2.6 4.1 2.5 1.1 -1.0 0.6 -4.6 -0.1 1999 I r3.9 r5.6 1.6 4.4 2.7 r0.5 r-0.8 r0.1 r-1.4 -0.1 ---------------------------------------------------------------------------------------------------------See footnotes following Table 6. August 5, 1999 r=revised Source: Bureau of Labor Statistics 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 1994 1995 1996 I II III IV 100.9 100.8 100.4 100.7 105.2 106.9 107.3 108.5 104.3 106.0 106.8 107.7 104.2 104.0 104.3 105.1 99.6 98.9 98.2 98.4 103.3 103.2 103.8 104.3 104.9 106.5 107.4 108.3 103.9 104.4 105.1 105.8 ANNUAL I II III IV 100.7 100.6 100.7 101.1 101.9 107.0 109.0 109.1 110.3 111.2 106.2 108.4 108.3 109.1 109.2 104.4 105.7 106.4 107.2 108.2 98.9 98.3 98.1 98.3 98.7 103.7 105.1 105.7 106.1 106.2 106.8 108.2 108.5 108.9 109.6 104.8 106.3 106.7 107.1 107.4 I II III IV 103.0 103.8 103.9 104.2 112.5 114.2 114.9 116.4 109.2 110.0 110.7 111.7 108.9 110.4 111.4 112.3 98.5 98.9 99.3 99.2 105.8 106.3 107.3 107.7 111.8 112.1 111.6 111.8 107.9 108.4 108.8 109.2 ANNUAL 103.7 114.5 110.4 110.7 99.0 106.8 111.8 108.6 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1994 1995 1996 I II III IV 0.3 -0.5 -1.3 1.2 2.6 6.4 1.5 4.6 2.2 6.9 2.9 3.3 4.4 -0.7 1.0 3.1 2.2 -2.9 -2.7 0.7 4.0 -0.2 2.3 1.9 -1.5 6.4 3.3 3.5 2.0 2.1 2.7 2.5 ANNUAL 0.6 4.1 3.5 1.8 -0.7 1.2 4.0 2.2 I II III IV -0.8 0.6 1.5 3.1 2.0 0.3 4.4 3.6 2.7 -0.3 2.9 0.4 2.4 2.6 3.1 3.8 -0.5 -0.6 0.9 1.4 3.2 2.0 1.5 0.6 -0.4 0.8 1.8 2.5 1.9 1.6 1.6 1.3 ANNUAL 0.3 2.7 2.4 2.4 -0.5 2.0 1.9 2.0 I II III IV 4.4 3.4 0.0 1.3 4.5 6.4 2.5 5.1 0.1 2.9 2.4 3.7 2.6 5.5 3.8 3.2 -0.7 1.7 1.4 -0.1 -1.7 2.0 3.7 1.8 8.3 1.2 -2.0 1.0 1.9 1.7 1.6 1.5 ANNUAL 2.6 4.2 1.5 3.6 0.6 0.9 2.8 1.6 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1994 1995 1996 I II III IV 1.0 1.0 0.6 -0.1 3.8 4.7 4.4 3.7 2.7 3.6 3.8 3.8 2.5 1.5 1.4 1.9 0.0 -0.8 -1.4 -0.7 1.5 0.5 0.8 2.0 3.1 5.0 5.1 2.9 2.1 2.1 2.4 2.3 ANNUAL 0.6 4.1 3.5 1.8 -0.7 1.2 4.0 2.2 I II III IV -0.3 -0.1 0.6 1.1 3.6 2.1 2.8 2.6 3.9 2.2 2.2 1.4 1.4 2.3 2.8 2.9 -1.4 -0.8 0.1 0.3 1.8 2.3 2.1 1.8 3.2 1.8 1.4 1.2 2.3 2.1 1.9 1.6 ANNUAL 0.3 2.7 2.4 2.4 -0.5 2.0 1.9 2.0 I II III IV 2.4 3.1 2.8 2.3 3.2 4.7 4.2 4.6 0.8 1.6 1.4 2.3 3.0 3.7 3.9 3.8 0.2 0.8 1.0 0.6 0.6 0.6 1.1 1.4 3.3 3.4 2.4 2.0 1.6 1.6 1.6 1.7 ANNUAL 2.6 4.2 1.5 3.6 0.6 0.9 2.8 1.6 --------------------------------------------------------------------------------------------------------See footnotes following Table 6. August 5, 1999 Source: Bureau of Labor Statistics Appendix table 2. Nonfarm 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 1994 1995 1996 I II III IV 100.7 100.8 100.3 100.8 105.2 106.9 107.3 108.6 104.4 106.1 106.9 107.8 104.0 103.9 104.1 105.0 99.4 98.8 98.0 98.3 103.2 103.1 103.8 104.2 105.0 107.0 108.2 109.2 103.8 104.5 105.3 106.0 ANNUAL 100.6 107.0 106.3 104.2 98.7 103.6 107.4 104.9 I II III IV 100.7 100.9 101.4 102.0 109.2 109.4 110.7 111.6 108.4 108.4 109.2 109.4 105.6 106.2 107.0 108.0 98.1 97.9 98.2 98.5 104.8 105.3 105.6 105.8 109.4 109.7 110.0 110.3 106.4 106.9 107.2 107.4 ANNUAL 101.2 110.2 108.9 106.7 98.2 105.4 109.9 107.0 I II III IV 103.1 103.8 103.8 104.1 112.8 114.5 115.2 116.6 109.4 110.3 111.0 112.1 108.7 110.1 111.0 111.9 98.3 98.7 98.9 98.9 105.5 106.0 107.0 107.5 112.2 112.3 111.7 112.3 107.9 108.2 108.6 109.2 ANNUAL 103.7 114.8 110.7 110.4 98.7 106.5 112.1 108.5 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1994 1995 1996 I II III IV 0.2 0.1 -1.8 1.8 1.6 6.6 1.5 5.0 1.4 6.5 3.3 3.1 4.7 -0.2 0.6 3.4 2.5 -2.4 -3.0 1.1 4.5 -0.3 2.4 1.6 -1.9 7.8 4.4 3.9 2.1 2.5 3.2 2.4 ANNUAL 0.6 3.9 3.3 2.0 -0.6 1.4 4.1 2.3 I II III IV -0.1 0.6 1.9 2.6 2.5 0.5 4.9 3.3 2.6 -0.1 3.0 0.7 2.4 2.4 3.1 3.5 -0.6 -0.8 1.0 1.1 2.5 1.8 1.2 0.9 0.7 1.1 1.3 1.0 1.9 1.6 1.2 0.9 ANNUAL 0.6 3.0 2.4 2.4 -0.5 1.8 2.3 2.0 I II III IV 4.2 3.0 -0.2 1.0 4.2 6.4 2.5 5.0 0.0 3.3 2.6 3.9 2.8 5.1 3.4 3.2 -0.5 1.4 1.0 -0.1 -1.4 2.1 3.6 2.1 7.2 0.0 -2.1 2.3 1.7 1.3 1.4 2.2 ANNUAL 2.4 4.1 1.7 3.5 0.5 1.1 2.1 1.4 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1994 1995 1996 I II III IV 0.8 1.1 0.3 0.1 3.6 4.5 3.9 3.6 2.7 3.4 3.6 3.6 2.5 1.7 1.5 2.1 -0.1 -0.7 -1.3 -0.5 1.6 0.6 1.2 2.0 2.6 5.1 5.1 3.5 2.0 2.2 2.6 2.6 ANNUAL 0.6 3.9 3.3 2.0 -0.6 1.4 4.1 2.3 I II III IV 0.0 0.1 1.0 1.2 3.8 2.3 3.2 2.8 3.9 2.2 2.1 1.5 1.5 2.2 2.8 2.9 -1.3 -0.8 0.2 0.2 1.6 2.1 1.8 1.6 4.2 2.5 1.7 1.0 2.5 2.2 1.8 1.4 ANNUAL I II III IV 0.6 2.3 2.9 2.4 2.0 3.0 3.2 4.7 4.1 4.5 2.4 0.9 1.7 1.6 2.4 2.4 3.0 3.6 3.7 3.6 -0.5 0.2 0.8 0.8 0.5 1.8 0.6 0.7 1.3 1.6 2.3 2.6 2.3 1.5 1.8 2.0 1.4 1.3 1.3 1.7 --------------------------------------------------------------------------------------------------------See footnotes following Table 6. August 5, 1999 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 1994 1995 1996 I II III IV 104.0 105.2 105.5 106.5 106.3 108.4 109.7 111.9 102.2 103.0 104.0 105.1 105.3 105.3 105.9 106.7 100.6 100.1 99.7 99.9 101.2 100.1 100.4 100.2 ANNUAL 105.3 109.1 103.6 105.8 100.2 100.5 I II III IV 108.0 109.0 109.8 110.8 113.4 113.4 113.9 114.6 105.0 104.0 103.7 103.4 107.3 108.0 108.8 109.3 99.7 99.6 99.8 99.6 99.3 99.0 99.1 98.6 ANNUAL 109.4 113.8 104.0 108.3 99.7 99.0 I II III IV 112.0 113.2 114.6 115.5 114.8 117.5 119.3 120.4 102.6 103.8 104.1 104.2 109.2 110.3 111.2 111.9 98.8 98.9 99.1 98.9 97.5 97.5 97.0 96.9 ANNUAL 113.8 118.0 103.7 110.7 99.0 97.2 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1994 1995 1996 I II III IV 4.7 4.6 1.2 3.8 5.6 8.0 4.9 8.2 0.8 3.2 3.7 4.2 3.7 0.3 2.3 3.0 1.6 -2.0 -1.4 0.6 -1.0 -4.2 1.1 -0.8 ANNUAL 3.1 5.3 2.2 2.8 0.2 -0.3 I II III IV 5.6 4.0 3.0 3.5 5.6 -0.1 1.7 2.6 0.0 -4.0 -1.3 -0.8 2.1 2.8 3.1 1.7 -0.9 -0.4 1.0 -0.6 -3.4 -1.2 0.1 -1.7 ANNUAL 3.9 4.3 0.4 2.4 -0.4 -1.4 I II III IV 4.4 4.5 5.2 3.1 0.8 9.6 6.4 3.6 -3.4 4.9 1.1 0.5 -0.2 4.2 3.1 2.7 -3.4 0.5 0.7 -0.6 -4.4 -0.3 -2.0 -0.4 ANNUAL 4.1 3.7 -0.4 2.2 -0.8 -1.8 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1994 1995 1996 I II III IV 1.9 3.1 3.7 3.6 3.4 4.9 6.2 6.6 1.4 1.8 2.4 3.0 3.7 2.8 2.5 2.3 1.1 0.4 -0.3 -0.3 1.7 -0.3 -1.1 -1.2 ANNUAL 3.1 5.3 2.2 2.8 0.2 -0.3 I II III IV 3.8 3.7 4.1 4.0 6.7 4.6 3.8 2.4 2.7 0.9 -0.3 -1.5 1.9 2.5 2.7 2.4 -0.9 -0.5 0.1 -0.2 -1.8 -1.1 -1.3 -1.5 ANNUAL 3.9 4.3 0.4 2.4 -0.4 -1.4 I II III IV 3.7 3.8 4.4 4.3 1.3 3.6 4.8 5.0 -2.4 -0.2 0.4 0.8 1.8 2.2 2.2 2.4 -0.9 -0.7 -0.7 -0.7 -1.8 -1.6 -2.1 -1.8 ANNUAL 4.1 3.7 -0.4 2.2 -0.8 -1.8 -------------------------------------------------------------------------------------------------See footnotes following Table 6. August 5, 1999 Source: Bureau of Labor Statistics Appendix table 4. Durable 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 1994 1995 1996 I II III IV 107.4 108.8 109.8 111.0 110.6 113.1 115.5 118.3 103.0 103.9 105.2 106.6 105.4 105.3 105.8 106.6 100.7 100.1 99.6 99.7 98.1 96.8 96.4 96.0 ANNUAL 109.3 114.4 104.7 105.8 100.1 96.8 I II III IV 113.2 114.0 115.2 116.8 120.7 120.8 122.1 124.0 106.7 106.0 106.0 106.2 107.1 107.6 108.3 108.3 99.6 99.2 99.3 98.7 94.7 94.4 94.0 92.7 ANNUAL 114.8 121.9 106.2 107.8 99.3 93.9 I II III IV 118.7 120.9 122.7 123.7 125.3 129.9 132.3 133.6 105.5 107.4 107.8 108.0 107.5 108.5 109.2 109.6 97.2 97.3 97.3 96.9 90.5 89.8 89.0 88.6 ANNUAL 121.5 130.2 107.2 108.7 97.2 89.5 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1994 1995 1996 I II III IV 6.4 5.3 3.6 4.3 8.5 9.4 8.6 10.0 2.0 3.8 4.9 5.4 2.9 -0.3 1.9 2.8 0.7 -2.5 -1.8 0.5 -3.3 -5.3 -1.6 -1.4 ANNUAL 4.9 8.2 3.2 2.5 0.0 -2.2 I II III IV 8.2 2.8 4.6 5.5 8.6 0.1 4.6 6.3 0.4 -2.6 0.0 0.8 2.2 1.9 2.5 -0.1 -0.8 -1.3 0.4 -2.4 -5.6 -1.0 -2.0 -5.2 ANNUAL 5.1 6.6 1.5 1.9 -0.9 -3.0 I II III IV 6.8 7.5 5.9 3.4 4.1 15.5 7.7 3.9 -2.6 7.4 1.7 0.5 -2.9 4.0 2.4 1.6 -6.0 0.3 0.1 -1.6 -9.1 -3.3 -3.3 -1.8 ANNUAL 5.9 6.8 0.9 0.8 -2.1 -4.8 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1994 1995 1996 I II III IV 3.9 4.5 6.1 4.9 6.2 7.6 9.7 9.1 2.2 2.9 3.4 4.0 3.7 2.5 2.2 1.8 1.1 0.1 -0.7 -0.8 -0.2 -1.9 -3.7 -2.9 ANNUAL I II III IV 4.9 5.3 4.7 5.0 5.3 8.2 9.1 6.8 5.8 4.9 3.2 3.6 2.0 0.7 -0.4 2.5 1.6 2.2 2.3 1.6 0.0 -1.2 -0.9 -0.3 -1.0 -2.2 -3.5 -2.4 -2.5 -3.5 ANNUAL 5.1 6.6 1.5 1.9 -0.9 -3.0 I II III IV 4.9 6.1 6.4 5.9 3.7 7.5 8.3 7.7 -1.1 1.3 1.8 1.7 0.3 0.8 0.8 1.2 -2.4 -2.0 -2.0 -1.9 -4.4 -5.0 -5.3 -4.4 ANNUAL 5.9 6.8 0.9 0.8 -2.1 -4.8 -------------------------------------------------------------------------------------------------See footnotes following Table 6. August 5, 1999 Source: Bureau of Labor Statistics Appendix table 5. Nondurable 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 1994 1995 1996 I II III IV 101.1 102.2 102.0 102.8 102.4 104.1 104.4 105.9 101.3 101.8 102.3 103.0 104.9 105.1 105.8 106.6 100.2 99.9 99.7 99.8 103.7 102.8 103.8 103.7 ANNUAL 102.0 104.2 102.1 105.6 100.0 103.5 I II III IV 103.5 104.9 105.3 105.8 106.4 106.3 105.9 105.6 102.8 101.3 100.6 99.8 107.1 108.1 109.1 110.3 99.5 99.7 100.1 100.6 103.5 103.0 103.6 104.2 ANNUAL 104.9 106.1 101.1 108.6 100.0 103.6 I II III IV 106.4 106.8 108.0 108.7 104.9 105.7 107.0 107.9 98.7 99.0 99.1 99.2 111.4 112.5 113.6 114.9 100.8 100.9 101.3 101.6 104.7 105.4 105.2 105.7 ANNUAL 107.5 106.4 99.0 113.1 101.2 105.3 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1994 1995 1996 I II III IV 3.8 4.4 -1.0 3.4 3.0 6.9 1.0 6.1 -0.8 2.4 2.0 2.6 4.7 1.0 2.8 2.9 2.5 -1.2 -1.0 0.5 0.9 -3.2 3.7 -0.5 ANNUAL 1.7 2.6 0.9 3.0 0.4 1.3 I II III IV 2.5 5.7 1.6 1.9 1.9 -0.4 -1.5 -1.3 -0.6 -5.8 -3.0 -3.1 1.8 3.9 3.8 4.4 -1.1 0.7 1.7 1.9 -0.7 -1.7 2.2 2.5 ANNUAL 2.8 1.8 -1.0 2.9 0.0 0.1 I II III IV 2.1 1.6 4.6 2.7 -2.5 3.1 5.0 3.2 -4.5 1.5 0.4 0.6 4.1 4.1 4.1 4.5 0.7 0.4 1.7 1.2 2.0 2.4 -0.5 1.8 ANNUAL 2.5 0.3 -2.1 4.1 1.1 1.6 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1994 1995 1996 I II III IV 0.3 2.2 1.6 2.6 0.7 2.5 2.7 4.2 0.4 0.4 1.1 1.5 3.5 2.9 2.8 2.8 0.9 0.5 -0.1 0.2 3.1 0.7 1.1 0.2 ANNUAL 1.7 2.6 0.9 3.0 0.4 1.3 I II III IV 2.3 2.6 3.3 2.9 3.9 2.1 1.5 -0.3 1.6 -0.5 -1.7 -3.1 2.1 2.8 3.1 3.5 -0.7 -0.2 0.4 0.8 -0.2 0.2 -0.2 0.6 ANNUAL 2.8 1.8 -1.0 2.9 0.0 0.1 I II III IV 2.8 1.8 2.5 2.7 -1.4 -0.6 1.0 2.2 -4.1 -2.3 -1.5 -0.5 4.0 4.1 4.1 4.2 1.2 1.2 1.2 1.0 1.2 2.3 1.6 1.4 ANNUAL 2.5 0.3 -2.1 4.1 1.1 1.6 -------------------------------------------------------------------------------------------------See footnotes following Table 6. August 5, 1999 Source: Bureau of Labor Statistics Appendix table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor costs, unit profits, and prices, seasonally adjusted 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 1994 1995 1996 I II III IV 103.8 103.1 103.0 103.7 108.1 109.1 110.2 112.3 104.1 105.8 106.9 108.3 103.8 103.7 103.9 104.6 99.2 98.6 97.8 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 103.5 109.9 106.2 104.1 98.5 100.6 99.7 100.3 134.5 103.4 I II III IV 103.4 104.0 105.3 106.1 112.9 113.7 115.7 116.9 109.1 109.4 109.9 110.2 105.2 105.8 106.5 107.3 97.8 97.5 97.7 97.8 101.7 101.7 101.1 101.1 99.3 99.6 98.4 98.8 101.1 101.2 100.4 100.5 137.9 138.7 148.5 149.0 104.4 104.6 104.8 104.9 ANNUAL 104.8 114.8 109.6 106.2 97.8 101.4 99.0 100.8 143.6 104.7 I II III IV 106.4 107.3 108.0 108.6 117.3 119.3 120.9 122.5 110.2 111.2 112.0 112.9 107.8 109.1 110.0 110.8 97.5 97.7 98.1 98.0 101.2 101.7 101.9 102.1 98.7 97.9 97.5 97.4 100.6 100.7 100.8 100.9 153.7 154.1 155.3 155.4 105.4 105.5 105.7 105.8 ANNUAL 107.6 120.0 111.5 109.5 97.9 101.7 97.9 100.7 154.6 105.6 ---------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1994 1995 1996 I II III IV 6.9 -2.7 -0.3 2.8 9.4 3.9 4.0 8.1 2.3 6.8 4.3 5.1 5.4 -0.3 0.7 2.5 3.3 -2.6 -3.0 0.2 -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 2.3 6.3 3.9 2.0 -0.5 -0.3 0.3 -0.2 18.7 1.8 I II III IV -1.2 2.0 5.2 3.0 1.9 3.0 7.3 4.0 3.1 1.0 2.0 1.0 2.4 2.2 2.8 3.0 -0.5 -1.0 0.6 0.6 3.7 0.2 -2.3 0.0 0.6 1.1 -4.7 1.8 2.9 0.4 -2.9 0.5 -11.5 2.4 31.6 1.4 1.0 0.7 0.8 0.6 ANNUAL 1.2 4.4 3.2 2.1 -0.7 0.9 -0.7 0.4 6.8 1.2 I II III IV 1.4 3.1 2.7 2.1 1.4 6.9 5.6 5.5 0.0 3.6 2.8 3.3 1.8 4.9 3.7 2.9 -1.4 1.2 1.3 -0.4 0.4 1.7 0.9 0.7 -0.7 -2.9 -1.7 -0.5 0.1 0.5 0.3 0.4 13.1 1.1 3.0 0.3 1.7 0.6 0.6 0.4 ANNUAL 2.8 4.5 1.7 3.1 0.1 0.3 -1.1 -0.1 7.7 0.9 ---------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1994 1995 1996 I II III IV 3.6 2.2 1.8 1.6 6.5 6.2 6.1 6.3 2.8 3.9 4.2 4.6 2.4 1.8 1.7 2.1 -0.1 -0.6 -1.1 -0.6 -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 2.3 6.3 3.9 2.0 -0.5 -0.3 0.3 -0.2 18.7 1.8 I II III IV -0.4 0.8 2.2 2.2 4.4 4.2 5.1 4.1 4.8 3.4 2.8 1.8 1.3 2.0 2.5 2.6 -1.5 -1.1 -0.2 -0.1 1.7 1.1 0.3 0.4 -2.2 0.7 -1.1 -0.3 0.7 1.0 -0.1 0.2 8.7 4.8 8.9 4.9 1.6 1.5 1.0 0.8 ANNUAL 1.2 4.4 3.2 2.1 -0.7 0.9 -0.7 0.4 6.8 1.2 I II III IV 2.9 3.2 2.6 2.3 3.9 4.9 4.4 4.8 1.0 1.7 1.8 2.4 2.5 3.1 3.3 3.3 -0.3 0.2 0.4 0.2 -0.4 -0.1 0.8 0.9 -0.6 -1.6 -0.9 -1.4 -0.5 -0.5 0.3 0.3 11.5 11.1 4.5 4.3 0.9 0.9 0.9 0.8 ANNUAL 2.8 4.5 1.7 3.1 0.1 0.3 -1.1 -0.1 7.7 0.9 ---------------------------------------------------------------------------------------------------------See footnotes following Table 6. August 5, 1999 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 within 40 days of the close of the reference period; revisions appear 30 days later and second revisions after an additional 60 days. In the business sector, the third publication (second revision) of a quarterly index of output per hour of all persons has differed from the initial value by between -1.1 and +1.3 index points approximately 95 percent of the time. This interval is based on the performance of this measure between the fourth quarter of 1995 and the first quarter of 1999. 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.
@FedFRASER