Full text of Productivity and Costs : Third Quarter 1991 [Preliminary]

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Bureau of Labor Statistics
Historical, technical
information: (202) 523-9261
Current data : (202) 523-1221
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United States
Department
of Labor
Washington, D.C. 20212
USDL 91-568
Wire embargo until 10:00 AM EST
Tuesday, November 5, 1991

EY AND COSTS
Third Quarter 1991

The Bureau of Labor Statistics of the U.S. Department of tabor today
reported preliminary productivity data—as measured by output per hour of all
persons—for the third quarter of 1991. The data show that productivity
advanced for the first time since the third quarter of 1990 in business and
nonfarm business, while manufacturing productivity increased strongly for a
second consecutive quarter. This pattern of faster productivity gains in
manufacturing has occurred frequently during the past decade. The preliminary
seasonally adjusted annual rates ,of productivity change in the third quarter
were:
2.3 percent in the business sector,
2.4 percent in the nonfarm business sector,
4.0 percent in manufacturing,
5.1 percent in durable goods manufacturing, and
2.6 percent in nondurable goods manufacturing.
Third-quarter measures are summarized in table A and appear in detail in
tables 1 through 5.
Business
Business productivity grew for the first time since the third quarter of
1990, increasing at a 2.3 percent annual rate during the third quarter of
1991, as output rose 2.9 percent and hours of all persons engaged in the
sector increased 0.6 percent (seasonally adjusted annual rates). This was the
first gain in output in a year and the largest increase in business
productivity since the third quarter of 1986 (when a 2.5 percent gain
occurred) . During the second quarter of 1991, productivity had declined 0.5
percent (table 1).
Hourly compensation increased at a 3.5 percent annual rate during the
third quarter of 1991, compared with a 4.6 percent gain during the previous
quarter. This measure includes wages and salaries, supplements, employer
contributions to employee-benefit plans, and taxes. Unit labor costs, which
reflect changes in hourly compensation and productivity, increased at a 1.2
percent annual rate during the third quarter, compared with a 5.1 percent
increase during the second quarter. This was the smallest increase in this
cost measure since the first quarter of 1988 (when a 2.1 percent decline
occurred) and means that the rise in the cost of the labor required to produce
a unit of output has slowed.




Table A. Productivity and costs: 'rhird-quarter 1991 measures
(Seasonally adjusted annual rates)

Sector

ProducOutput
tivity

Hours

Hourly
compensation

Real
hourly
compensation

Unit
labor
costs

Percent change from preceding quarter
Business
Nonfarm business
Manufacturing
Durable
Nondurable

2.3
2.4
4.0
5.1
2.6

2.9
3.0
6.8
6.4
7.6

0.6
0.6
2.7
1.2
4.8

3.5
3.5
3.2
4.2
2.1

0.5
0.5
0.2
1.1
-0.8

1.2
1.1
-0.7
-0.9
-0.5

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

0.1
0.3
0.9
0.6
1.9

-1.5
-1.5
-2.7
-4.6
0.5

-1.6
-1.8
-3.6
-5.2
-1.4

3.9
4.0
3.9
4.2
3.7

0.0
0.1
0.0
0.3
-0.1

3.7
3.7
2.9
3.6
1.7

Real hourly compensation, which takes into account changes in the Consumer
Price Index for All Urban Consumers <CPI-U), increased at a 0.5 percent annual
rate during the third quarter, marking the third increase in succession.
During the second quarter of 1991, it had increased at a 2.4 percent annual
rate.
The implicit price deflator for business output, which reflects changes in
unit labor costs and unit nonlabor payments, increased only 1.1 percent in the
third quarter, compared with 4.6 percent and 4.7 percent increases in the
first and second quarters, respectively.
Nonfarm buain«ss
Productivity increased at a 2.4 percent annual rate in the nonfarm
business sector during the third quarter of 1991, as output rose 3.0 percent
and hours of all persons—employees, proprietors, and unpaid family workers—
increased 0.6 percent. During the second quarter of 1991, productivity had
decreased 0.3 percent in this sector. The third-quarter increase in hours was
the first since the opening quarter of 1990 (when hours rose 2.6 percent).




Hourly compensation increased 3.5 percent in the third quarter, but was up
only 0.5 percent when the increase in the CPI-O was taken into account.
During the second quarter, the comparable changes were 4.6 percent and 2.5
percent, respectively. As in the more comprehensive business sector, the
third-quarter gain in real hourly compensation was the third in a row.
Unit
labor costs increased only 1.1 percent, compared with a 4.9 percent rise
during the second quarter of 1991.
The implicit price deflator for nonfarm business output rose a scant 1.3
percent in the third quarter, compared with a 4.2 percent increase one quarter
earlier.
Manufacturing
Productivity grew more rapidly in manufacturing than in the more
comprehensive business and nonfarm business sectors. Output per hour of all
persons--'labor productivity—increased at a 4.0 percent seasonally adjusted
annual rate in manufacturing in the third quarter of 1991, compared with a 3.9
percent gain during the second quarter. Output increased a substantial 6.8
percent and hours of all persons increased 2.7 percent. Manufacturing hours
had declined in 8 of the past 10 quarters, and the increase in the third
quarter of 1991 was the greatest since 1988 (when a 3.3 percent gain occurred
in the fourth quarter). Productivity gains were larger among durable goods
producers, but output and hours increased more rapidly in nondurables (tables
4, 5 ) .
Hourly compensation of all manufacturing workers increased 3.2 percent
during the third quarter, compared with a 5.9 percent rise during the second
quarter.
Real hourly compensation rose 0.2 percent in the third quarter when
the increase in consumer prices was taken into account. Unit labor costs
declined at a 0.7 percent annual rate in the third quarter, compared with a
1.9 percent increase during the second quarter of 1991. Unit labor costs have
been decelerating in manufacturing for the past 4 quarters.




Table B. Previous and revised productivity and related measures,
second-quarter 1991
Quarterly percent change at seasonally adjusted annual rate

Sector

Productivity

Hourly
compensation

Real
hourly Unit
compen- labor
sation costs

Output

Hours

0.3
-0.5

0.2
-0.5

-0.1
0.0

4.5
4.6

2.4
2.4

4.2
5.1

Nonfarm business:
Previous
0.5
Current
-0.3

0.4
-0.4

-0.1
-0.1

4.6
4.6

2.4
2.5

4.0
4.9

1.9
2.2

-1.7
-1.6

5.9
5.9

3.7
3.7

2.2
1.9

Nonfinancial corporations:
Previous
1.0
0.3
Current
0.5
rO.1

-0.7
-0.6

4.5
4.6

2.4
2.4

3.5
4.0

Business:
Previous
Current

Manufacturing:
Previous
Current

3.6
3.9

Revised measures
Previous and revised productivity and cost measures for the second
quarter are compared in table B for business, nonfarm business, manufacturing,
and nonfinancial corporations. The revised movements are based on more
complete information than was available on September 6 when the previous data
were announced.
Chang* in next release date
The next release of Productivity and Costs is scheduled for 10:00 AM 1ST,
Tuesday, December 17, 1991, instead of December 4 as previously announced.
The release will provide revised measures for the third quarter of 1991. This
postponement reflects a change in the release date for output and compensation
data by the Bureau of Economic Analysis (BEA) of the U.S. Department of
Commerce. This change, which was announced by BEA on October 29, will permit
inclusion of major benchmark revisions in the National Income and Product
Accounts. Third-quarter productivity and cost measures for nonfinancial
corporations also will be released in the December 17 issue of Productivity
and Costs,




TECHNICAL NOTES
Labor Input: The primary source of hours and employment data is the BLS Current Employment Statistics (CES) program, which provides monthly survey data
on total employment and average weekly hours of production and nonsupervisory
workers in nonagricultural establishments.
Jobs rather than persons are
counted. Weekly hours are adjusted to the hours at work definition using the
BLS Hours at Work Survey, conducted for this purpose.
Data from the BLS Current Population Survey (CPS) are used for farm labor; in the nonfarm sector, the National Income and Product Accounts (NIPA),
prepared by the Bureau of Economic Analysis of the Department of Commerce and
the CPS are used to measure labor input for government enterprises, proprietors, unpaid family workers, and paid employees of private households.
Output;
Business sector output is equal to gross national product (GNP) in
constant 1982 dollars, less the rest-of-the-world sector, general government,
output of nonprofit institutions, output of paid employees of private households, rental value of owner-occupied dwellings, and the statistical discrepancy in computing the NIPA. Corresponding exclusions also are made in labor
inputs. Business output was about 81 percent of GNP in 1990. Nonfarm business, which also excludes farming, was about 79 percent of GNP in 1990.
Total manufacturing measures are computed by summing series prepared for
the durable and nondurable goods sectors. Durables include the following 2digit SIC industries: Primary metals; fabricated metal products; nonelectrical machinery; electrical machinery; transportation equipment; instruments;
lumber and lumber products; furniture and fixtures; stone, clay, and glass
products; and miscellaneous manufactures. Nondurables include: Textile mill
products, apparel products, leather and leather products, printing and publishing, chemicals and chemical products, petroleum products, rubber and plastic products, food, and tobacco products. Manufacturing accounted for about
22 percent of GNP in 1990.
Nonfinancial corporate output is equal to GNP in constant 1982 dollars,
less the rest-of-the-world sector, general government, output of nonprofit institutions, output of paid employees of private households, rental value of
owner-occupied dwellings, unincorporated business, the output of corporations
engaged in banking, finance, stock and commodity trading, and credit and insurance agencies, and the statistical discrepancy in computing the NIPA. Nonfinancial corporations accounted for about 60 percent of GNP in 1990.
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.




Table 1. Business sector: Productivity, hourly compensation, unit labor cost, and prices, seasonally
adjusted
Real
Implicit
Unit nonUnit
CompensacompensaHours
Output
Output per
Year
labor pay- price
labor
tion
per
tion
per
of
all
hour
of
and
deflator (4)
ments (3)
cost
hour (1)
hour (2)
persons
all persons
quarter
Indexes 1982=100
1990

1991

I
II
III
IV

112.0
112.4
112.7
112.3

136.0
136.4
136.5
135.4

121.3
121.3
121.2
120.5

135.7
137.7
139.4
140.6

102.2
102.7
102.3
101.4

121.1
122.5
123.7
125.2

135.5
137.0
137.5
136.5

125.8
127.2
128.2
128.8

ANNUAL

112.4

136.1

121.1

138.4

102.2

123.1

136.6

127.5

I
II
III

112.3
rll2.2
112.8

133.7
rl33.6
134.5

119.1
119.1
119.2

142.0
rl43.6
144.8

101.5
102.1
102.3

126.4
rl28.0
128.4

138.4
rl39.8
140.0

130.3
rl31.8
132.1

Percent change from previous quarter at annual rate(5)
1990

1991

I
II
III
IV

-0.7
1.4
0.9
-1.2

1.4
1.2
0.5
-3.4

2.1
-0.2
-0.4
-2.1

4.6
6.1
5.0
3.3

-2.6
2.1
-1.7
-3.4

5.3
4.7
4.1
4.6

3.3
4.5
1.7
-3.0

4.6
4.6
3.2
2.0

ANNUAL

-0.4

0.2

0.6

4.0

-1.3

4.4

2.6

3.8

I
II
III

0.0
r-0.5
2.3

-4.7
r-0.5
2.9

-4.7
rO.O
0.6

4.0
r4.6
3.5

0.5
2.4
0.5

4.1
r5.1
1.2

5.7
r3.9
0.8

4.6
r4.7
1.1

Percent change from corresponding quarter of previous year
1990

I
II

IV

-0.9
-0.6
-0.1
0.1

ANNUAL

-0.4

0.2

0.6

4.0

-1.3

4.4

2.6

3.8

I
II
III

0.2
r-0.2
0.1

-1.6
r-2.0
-1.5

-1.9
-1.8
-1.6

4.6
4.2
3.9

-0.7
-0.6
0.0

4.4
r4.5
3.7

2.2
r2.0
1.8

3.6
3.6
3.1

rn

1991

0.3
0.3
0.3
-0.1

See footnotes following table 6.
r-revised




1.1
1.0
0.4
-0.2

3.0
3.7
4.5
4.8

-2.1
-0.6
-0.9
-1.4

3.8
4.4
4.6
4.7

3.5
2.7
2.8
1.6

3.7
3.8
4.0
3.6

November 5, 1991
Source: Bureau of Labor Statistics

Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor
seasonally adjusted
Real
Unit
Hours
CompensaOutput per
Output
compensaYear
tion per
labor
of all
tion per
and
hour of
hour (1)
cost
persons
quarter
hour (2)
all persons

cost, and prices,
Implicit
Unit nonlabor pay- price
ments (3)
deflator(4)

Indexes 1982-100
1990

1991

I
II
III
IV

111.0
111.3
111.5
111.2

136.8
137.2
137,4
136.1

123.3
123,3
123.2
122.4

134.6
136.6
138.2
139.5

101.3
101.8
101.4
100.6

121.3
122.7
124.0
125.4

135.7
137.4
138.0
137.5

125.8
127.3
128.4
129.2

ANNUAL

111.2

136.9

123.1

137.2

101.3

123.4

137.1

127.7

120.9
120.8
121.0

140.9
142.5
143.8

100.8
101.4
101.5

126.7
rl28.2
128.6

139.3
rl40.2
140.8

130.7
132.0
132.4

I
II
III

111.2
rill.2
111.8

134.5
rl34.3
135.3

Percent change from previous quarter at annual rate (5)
1990

1991

I
II
III
IV

-1.1
1.2
0.6
-0.8

1.4
1.2
0,4
-3.6

2.6
0.0
-0.1
-2.8

4.0
5.9
5.0
3.7

-3.2
2.0
-1.8
-3.0

5.2
4.7
4.4
4.6

1.2
5.1
1.9
-1.5

3.8
4.8
3.6
2.5

ANNUAL

-0,6

0.2

0.7

3.9

-1.5

4.4

2.5

3.8

I
II
III

0.0
r-0.3
2.4

-4.8
r^-0.4
3.0

-4.9
-0.1
0.6

4.2
4.6
3.5

0.7
r2.5
0.5

4.2
r4.9
1.1

5.2
r2.8
1.7

4.5
r4.2
1.3

Percent change from corresponding quarter of previous year
1990

1991

-o-X

0.3
0.3
0.2
-0,1

1.3
1.0
0.6
-0.1

2.8
3,7
4.4
4.6

-2.3
-0.9
-1.1
-1.5

3.8.
4.4
4.8
4.7

3.S
2.5
2.5
1.7

~r*.7
3.8
4.0
3.7

-0.6

0.2

0.7

3.9

-1.5

4.4

2.5

3.8

0.2
r-0.1
0.3

-1.7
r-2.1
-1.5

-2.0
-2.0
-1.8

4.7
4.4
4.0

-0.6
-0.4
0.1

4.5
r4.5
3.7

2.6
r2.1
2.0

3.8
r3.7
3.1

I
II
III
IV

-1.0
-0.7
-0.4

ANNUAL
I
II
III

See footnotes following table 6.
r*revised




November 5, 1991
Source: Bureau of Labor Statistics

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

Output per
hour
of all persons

Output
<6)

Hours
of all
persons

Compensation per
hour(l)

Real
compensation per
hour(2)

Unit
labor
cost

Indexes 1982-100
1990

1991

I
II
III
IV

134.7
136.0
138.0
137.2

145.9
147.5
148.8
145.7

108.4
108.5
107.8
106.2

129.3
131.0
132.5
133.8

97.3
97.7
97.2
96.5

96.0
96.3
96.1
97.5

ANNUAL

136.6

147.0

107.6

131.8

97.3

96.5

I
II
III

136.6
rl37.9
139.3

141.6
rl42.4
144.7

103.6
103.2
103.9

134.6
136.6
137.7

96.3
97.1
97.2

98.6
r99.0
98.8

Percent change from previous quarter at annual rate(5)
1990

1991

I
II
III
IV

3.9
3.8
6.1
-2.2

1.8
4.3
3.5
-8.1

-2.0
0.5
-2.4
-6.0

1.3
5.3
4.8
3.7

-5.7
1.4
-1.9
-3.0

-2.5
1.5
-1.1
6.0

ANNUAL

2.5

0.4

-2.0

3.2

-2.0

0.7

I
II
III

-1\8
r3.9
4.0

-10.8
r2'.2
6.8

-9.1
r-1.6
2.7

2.6
5.9
3.2

-0.9
3.7
0.2

4.5
rl.9
-0.7

r

Percent change from corresponding quarter of previous• year
1990

1991

I
II
III
IV

1.2
1.6
3.7
2.9

-0.8~
0.2
1.9
0.3

-1.9'
-1.4
-1.8
-2.5

2.2^
3.1
3.3
3.8

-2.9
-1.4
-2.2
-2.3

ANNUAL

2.5

0.4

-2.0-

3.2

-2.0

0.7

I
II
III

1.4
1.4
0.9

-3.0
r-3.5
-2.7

-4.3
-4.8
-3.6

4.1
4.3
3.9

-1.1
r-0.5
0.0

2.7
r2.8
2.9

See footnotes following table 6.
r«revised




i:o

1.4
-0.4
0.9

November 5, 19,91
Source: Bureau of Labor Statistics

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

Output per
hour
of all persons

Output
(6)

Hours
of all
persons

Compensation per
hour(l)

Real
compensation per
hour(2)

Unit
labor
cost

Indexes 1982-100
1990

1991

I
II
III
IV

147,3
149.9
153.0
151.4

159.7
162.6
164.3
159.1

108.5
108.4
107.4
105.1

128.1
129.8
131.5
132.8

96.5
96.8
96.5
95.7

87.0
86.5
86.0
87.7

ANNUAL

150.6

161.4

107.2

130.7

96.5

86.8

I
II
III

150.8
rl52.0
153.9

153.5
rl54.3
156.8

101.8
101.5
101.8

133.7
135.7
137.1

95.6
96.5
96.8

88.7
r89.2
89.0

-6.0
1.3
-1.2
-3.0

-3.3
-2.0
-2.6
8.2

Percent change from previous quarter at annual rate(5)
1990

I
II
III
IV

4.3
7.4
8.4
-4.1

1.6
7.3
4.3
-12.1

-2.6
-0.1
-3.8
-8.3

0.9
5.3
5.6
3.8

ANNUAL

3.4

0.3

-3.0

3.3

-2.0

-0.1

;99i

I
II
III

-1.6
r3.3
5.1

-13.3
r2.2
6.4

-11.9
r-1.1
1.2

2.8
r6.1
4.2

-0.7
3.9
1.1

4.5
r2.7
-0.9

1990

I
II
III
IV

2.1
2.5
4.7
3.9

-1.2
0.3
2.0
0.0

-3.2
-2.2
-2.5
-3.8

2.3
3.2
3.2
3.9

-2.7
-1.4
-2.2
-2.3

0:2
0.7
-1.4
0.0

ANNUAL

3.4

0.3

-3.0

3.3

-2.0

-0.1

I
II
III

2.4
rl.4
0.6

-3.9
-5.1
-4.6

-6.1
-6.4
-5.2

4.4
r4.6
4.2

-0.9
-0.3
0.3

1.9
r3.1
3.6

Percent change from corresponding quarter of previous year

1991

See footnotes following table 6.
r-reviaed




November 5, 1991
Source: Bureau of Labor Statistics

10

Table 5. Nondurable manufacturing sector: Productivity, hourly compensation, and unit labor cost,
seasonally adjusted
Year and
quarter

Output per
hour
of all persons

Output
(6)

Hours
of all
persons

Compensation per
hour(l)

Real
compensation per
hour(2)

Unit
labor
cost

Indexes 1982=100
1990

1991

I
II
III
IV

117.9
117.4
118.1
118.7

127.6
127.4
128.0
127.8

108.2
108.5
108.4
107.7

131.3
133.1
134.4
135.8

98.8
99.2
98.6
97.9

111.3
113.4
113.8
114.4

ANNUAL

118.1

127.7

108.1

133.8

98.8

113.2

I
II
III

118.2
rll9.6
120.4

125.7
rl26.4
128.7

106.3
105.7
106.9

136.8
138.6
139.4

97.8
98.6
98.4

115.7
rll5.9
115.8

-4.9
1.6
-2.7
-2.5

-1.2
7.6
1.4
2.3

Percent change from previous quarter at annual rate(5)
1990

1991

I
II
III
IV

3.4
-1.8
2.6
1.9

2.3
-0.6
2.1
-0.9

-1.1
1.3
-0.4
-2.7

2.1
5.6
4.0
4.2

ANNUAL

1.2

0.6

-0.6

3.4

-1.9

2.2

I
II
III

-1.4
r4.7
2.6

-6.4
r2.3
7.6

-sa

3.0
5.5
2.1

-0.5
r3.4
-0.8

4.4
r0.8
-0.5

-2.3
4.8

Percent change from corresponding quarter of previous year
1990

1991

I
II
III
IV

0.0
0.4
2.3
1.5

0.0
0.2
1.6
0.7

0.0
-0.2
-0.7
-0.7

2.2
3.1
3.5
4.0

-2.8
-1.4
-1.9
-2.2

2.2
2.7
1.2
2.5

ANNUAL

1.2

0.6

-0.6

3.4

-1.9

2.2

I
II
III

0.3
rl.9
1.9

-1.5
r-0.8
0.5

-1.8
-2.6
-1.4

4.2
4.2
3.7

-1.0
-0.6
-0.1

3.9
r2.2
1.7

See footnotes following table 6.
r-revised




November 5, 1991
Source: Bureau of Labor Statistics

11

Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor cost, unit profits,
and prices, seasonally adjusted
Year
and
quarter

Output
per allemployee

Output

hour

Employee Hourly
Real
hours compensa- hourly
compention
sation (2)
(1)

Unit
labor
cost

Unit
nonlabor
cost(7)

Total
unit
cost
(8)

Unit
profits
(9)

Implicit
price
deflator
(4)

Indexes 1982-100
1990

1991

I
II
III
IV

114.0
114.8
114.6
114.6

140.5
141.4
141.1
139.6

123.2
123.2
123.1
121.8

131.2
133.7
135.2
136.4

98.8
99.7
99.2
98.4

115.1
116.5
118.0
119.0

112.4
112.6
114.8
117.3

114.3
115.4
117.1
118.6

142.9
149.1
138.6
127.5

116.1
117.5
118.5
119.1

ANNUAL

114.6

140.6

122.8

134.2

99.1

117.1

114.3

116.3

139.5

117.8

I
II

114.3
rll4.5

137.3
rl37.3

120.1
119.9

137.7
139.2

98.4
99.0

120.4
rl21.6

120.8
121.1

120.5
rl21.5

125.3
rl29.9

120.8
rl22.0

Percent change from previous quarter at annual rate(5)
1990

1991

I
II
III
IV

-1.5
2.6
-0.7
0.2

ANNUAL

-0.4

I
II

-1.1
r0.5

1.8
0.0
-0.1
-4.3

2.8
7.6
4.8
3.6

-4.3
3.6
-2.0
-3.1

4.3
4.9
5.5
3.4

0.1

0.6

3.7

-1.6

-6.5
r-0.1

-5.5
r-0.6

3.8
r4.6

0.2
2.4

0.3
2.5
-0.8
-4.1

3.3
0.5
8.3
9.1

4.0
3.7
6.3
5.0

1.1
18.6
-25.3
-28.4

3.8
4.8
3.4
2.2

4.1

5.3

4.4

-9.0

3.3

4.9
r4.0

12.2

6.9
r3.1

-6.8
rl5.8

5.9
r3.9

Percent change from corresponding quarter of
1990

1991

rl.O
previous

year

I
II
III
IV

-0.5
-0.1
-0.9
0.1

0.7
0.8
-0.3
-0.6

1.2
0.9
0.6
-0.7

2.3
3.7
4.3
4.7

-2.7
-0.9
-1.2
-1.5

2.9
3.8
5.3
4.5

6.6
,4.7
4.6
5.2

3.9
4.0
5.1
4.7

-9.8
-5.9
-10.2
-10.5

2.7
,3.2
3.8
3.5

ANNUAL

-0.4

0.1

.0.6

3.7

-1.6

4.1

5.3

4.4

-9.0

3.3

I
II

0.2
r-0.3

-2.3
r-2.9

-2.5
r-2.6

4.9
4.2

-0..4
-0.6

4.7
r4.5

7.4
7.6

5.4
r5.3

-12.3
-12.8

4.1
r3.9

See footnotes following table 6.
r-revised




November 5, 1991
Source: Bureau of Labor Statistics

12
SOURCE: Output data from the Bureau of Economic Analysis, U.S. Department of
Commerce, and the Federal Reserve Board, Compensation and hours data from the
Bureau of Labor Statistics, U.S. Department of Labor, and the Bureau of
Economic Analysis.
RELIABILITY: Productivity and cost measures are regularly revised as more
complete information becomes available. The measures are first published 30
days after the close of the reference period; revisions appear 30 days later,
and third revisions after an additional 60 days. In the business sector, the
probability is 0.95 that the third publication (third revision) of a quarterly
index of output per hour of all persons will differ from the initial value by
between -1.8 and +2.1 index points. This interval is based on the performance
of this measure between the second quarter of 1976 and the third quarter of
1990.
Footnotes, Tables 1-6
(1) Wages and salaries of employees plus employers 1 contributions for social
insurance and private benefit plans. Except for nonfinancial
corporations, where there are no self-employed, data also include an
estimate of wages, salaries, and supplemental payments for the selfemployed.
(2)

Compensation per hour adjusted for changes in the Consumer Price Index
for All Urban Consumers.

(3) Unit nonlabor payments include profits, capital consumption allowances,
interest, rental income of persons, and indirect taxes.
(4)

Current dollar gross product divided by constant dollar gross product.

(5) Quarterly changes: Percent change compounded at annual rate from the
original data rather than index numbers. Annual changes: Percent
change between annual average levels.
(6)

Quarterly manufacturing output measures are based on the index of
industrial production prepared monthly by the Board of Governors of the
Federal Reserve adjusted by BLS to annual manufacturing output levels
(gross product originating) from the National Income and Product
Accounts prepared by the Bureau of Economic Analysis of the U.S.
Department of Commerce.

(7)

Unit nonlabor cost includes capital consumption allowances, interest,
rental income of persons, and indirect taxes. For nonfinancial
corporations, rental income of persons is zero by definition.

(8)

Total unit cost is the sum of labor and nonlabor costs.

(9)

Unit profits include corporate profits with inventory valuation and
capital consumption adjustments.




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