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Historical, technical information: (202) 606-5606 Current data: (202) 606-7828 Media contact: (202) 606-5902 USDL 96-37 Transmission of this material is embargoed until 10:00 A.M. EST Thursday, February 8, 1996. PRODUCTIVITY AND COSTS Third Quarter 1995 The Bureau of Labor Statistics of the U.S. Department of Labor today reported revised productivity data--as measured by output per hour of all persons--for the third quarter of 1995. The seasonally-adjusted annual rates of productivity growth in the third quarter were: 1.2 percent in the business sector, and 1.4 percent in the nonfarm business sector. In both the business and the nonfarm business sectors, productivity increases in the third quarter were less than half the second-quarter increases. In manufacturing, revised productivity increases in the third quarter were: 5.7 percent in manufacturing, 6.6 percent in durable goods manufacturing, and 4.8 percent in nondurable goods manufacturing. ______________________________________________________________________________ NOTE: BLS has switched to annual-weighted output indexes for computations underlying its regular Productivity and Costs news releases. In addition, the productivity and costs data contained in this release incorporate the following changes to source data: Revised historical output and compensation data prepared by the Bureau of Economic Analysis of the U.S. Department of Commerce; revised historical Indexes of Production prepared by the Federal Reserve Board; and incorporation of the results of the 1994 Hours at Work Survey. The base year for the indexes is now 1992=100. See pages 5-7 for further information regarding these revisions. ______________________________________________________________________________ 2 ______________________________________________________________________________ Table A. Productivity and costs: Revised third-quarter 1995 measures (Seasonally adjusted annual rates) ______________________________________________________________________________ Real Hourly hourly Unit Produccompen- compen- labor Sector tivity Output Hours sation sation costs ______________________________________________________________________________ Percent change from preceding quarter Business 1.2 4.1 2.8 3.9 1.9 2.7 Nonfarm business 1.4 4.4 2.9 3.9 1.8 2.4 Manufacturing 5.7 2.6 -2.9 4.0 1.9 -1.6 Durable 6.6 5.1 -1.5 4.0 1.9 -2.5 Nondurable 4.8 -0.3 -4.9 3.7 1.6 -1.1 ______________________________________________________________________________ Percent change from same quarter a year ago Business 0.8 2.2 1.4 4.0 1.2 3.1 Nonfarm business 1.1 2.5 1.4 4.1 1.4 3.0 Manufacturing 3.8 3.0 -0.8 3.2 0.5 -0.7 Durable 4.5 4.9 0.4 2.6 -0.1 -1.9 Nondurable 3.3 0.7 -2.5 3.9 1.1 0.6 ______________________________________________________________________________ The third-quarter productivity increase in manufacturing occurred as output rose at a 2.6 percent rate and hours fell 2.9 percent. Output and hours in manufacturing, which includes about 19 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. Third-quarter measures are summarized in table A and appear in detail in tables 1 through 5. 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 independent indexes of industrial production prepared by the Board of Governors of the Federal Reserve System. See Technical Notes for further information on data sources (page 9). 3 Business From the second quarter to the third quarter of 1995, business sector productivity increased at a 1.2 percent annual rate. As revised, output rose 4.1 percent, and hours of all persons engaged in the sector increased 2.8 percent (seasonally adjusted annual rates). During the second quarter of 1995, productivity had increased 3.0 percent, as output rose 0.3 percent and hours fell 2.5 percent (table 1). Hourly compensation increased 3.9 percent during the third quarter of 1995, down from a 5.6 percent rise in the second quarter. This measure includes wages and salaries, supplements, employer contributions to employee benefit plans, and taxes. Unit labor costs rose 2.7 percent in the third quarter, just slightly more than the 2.5 percent increase posted one quarter earlier. Real hourly compensation, which takes into account changes in the Consumer Price Index for All Urban Consumers (CPI-U), rose 1.9 percent in the third quarter and 2.1 percent in the second quarter of 1995. The implicit price deflator for the business sector, which reflects changes in both unit labor costs and unit nonlabor payments, increased at a 2.6 percent annual rate in the third quarter of 1995, compared with a 2.1 percent increase during the second quarter. Nonfarm business Productivity rose 1.4 percent in the nonfarm business sector during the third quarter of 1995 as output rose 4.4 percent and hours of all persons increased 2.9 percent. During the second quarter of 1995, productivity had increased 3.0 percent in the nonfarm business sector, reflecting a gain of 0.5 percent in output coupled with a 2.4 percent decline in hours (table 2). Hourly compensation increased at a 3.9 percent annual rate in the third quarter, compared with a 5.4 percent increase one quarter earlier. When the rise in the CPI-U is taken into account, real hourly compensation rose at a 1.8 percent annual rate in the third quarter. Real hourly compensation has now posted increases in four consecutive quarters. Unit labor costs increased 2.4 percent in the third quarter of 1995 and 2.3 percent in the second quarter. The implicit price deflator for nonfarm business output rose 2.3 percent in the third quarter, compared with a 1.9 percent rise one quarter earlier. 4 Manufacturing Productivity increased 5.7 percent in manufacturing in the third quarter of 1995, as output rose 2.6 percent and hours of all persons fell 2.9 percent (seasonally adjusted annual rates). Manufacturing productivity has increased in every quarter since the first quarter of 1991 (when it declined 0.4 percent). In the durable goods industries, productivity grew 6.6 percent in the third quarter as output rose 5.1 percent and hours fell 1.5 percent. In the nondurable goods industries, productivity grew 4.8 percent as both output and hours dropped--0.3 and 4.9 percent, respectively (tables 3, 4, and 5). Hourly compensation of all manufacturing workers increased 4.0 percent during the third quarter and 3.5 percent during the second quarter (seasonally adjusted annual rates). Real hourly compensation increased 1.9 percent when the increase in the CPI-U is taken into account. This increase in real hourly compensation was the largest since a similar increase in the first quarter of 1992. During the second quarter, real hourly compensation rose only 0.1 percent. Unit labor costs fell at a 1.6 percent annual rate in the third quarter of 1995 as the 5.7 percent productivity increase in the manufacturing sector exceeded the 4.0 percent increase in hourly compensation. These costs fell 0.5 percent in the second quarter of 1995 and have fallen in 7 of the last 8 quarters. In durable goods industries, unit labor costs fell 2.5 percent in the third quarter of 1995 and have fallen for 8 consecutive quarters. A 1.1 percent decrease in unit labor costs was recorded in nondurable goods industries in both the second and third quarters. Nonfinancial Corporations Third-quarter 1995 measures of productivity and costs also were announced today for nonfinancial corporations (tables B and 6). Output per all-employee hour rose at a 5.7 percent annual rate, compared with a 3.7 percent increase during the second quarter (as revised). Output increased 7.8 percent in the third quarter of 1995, while hours of all employees increased 2.0 percent, at annual rates. The third-quarter productivity and output increases in nonfinancial corporations were the highest since the first quarter of 1986, when they both increased at a 9.3 percent annual rate. The sector includes all corporations doing business in the United States, except those classified as depository institutions, nondepository institutions, security and commodity brokers, insurance carriers, regulated investment offices, small business investment offices, and real estate investment trusts. Hourly compensation increased 4.1 percent in the third quarter; it had risen 5.6 percent in the second quarter. When the rise in the CPI-U is taken into account, real hourly compensation increased 2.0 percent in the third quarter--about the same as the 2.1 percent increase in the second quarter of 1995. 5 ______________________________________________________________________________ Table B. Nonfinancial corporations: Third-quarter 1995 productivity and cost measures (Seasonally adjusted annual rates) ______________________________________________________________________________ Real Hourly hourly Unit Implicit Produccompen- compen- labor Unit price Period tivity Output Hours sation sation costs profits deflator _____________________________________________________________________________ Percent change from preceding quarter 1995 III 5.7 7.8 2.0 4.1 2.0 -1.5 40.9 1.1 _____________________________________________________________________________ Percent change from same quarter a year ago 1995 III 2.1 3.9 1.8 3.8 1.1 1.7 4.1 1.7 ______________________________________________________________________________ Unit labor costs for nonfinancial corporations fell 1.5 percent in the third quarter, after increasing 1.9 percent in the previous quarter. Unit nonlabor costs fell 5.0 percent in the third quarter, and unit profits rose at a 40.9 percent annual rate. This was the first increase in unit profits in calendar year 1995. The implicit price deflator for the output of nonfinancial corporations rose 1.1 percent in the third quarter, down from the 2.2 percent increase posted one quarter earlier. Revised Measures Current and previous measures for the third quarter of 1995 for the business, nonfarm business, and manufacturing sectors are compared in table C. The quarterly movements differ from those reported on November 7. These differences are due to both new information and changes in the way the measures are constructed. (See new methodologies and data on page 6.) 6 ______________________________________________________________________________ Table C. Previous and revised productivity and related measures Quarterly percent changes at seasonally adjusted annual rates ______________________________________________________________________________ Real Hourly hourly Unit Produccompen- compen- labor Sector tivity Output Hours sation sation costs ______________________________________________________________________________ Third quarter 1995 Business: Previous . . . . 2.1 4.9 2.8 3.2 1.1 1.1 Current . . . . . 1.2 4.1 2.8 3.9 1.9 2.7 Nonfarm business: Previous . . . . 2.0 Current . . . . . 1.4 4.9 4.4 2.9 2.9 3.1 3.9 1.0 1.8 1.1 2.4 Manufacturing: Previous. . . . . 6.2 3.0 -3.0 3.7 1.7 -2.3 Current . . . . . 5.7 2.6 -2.9 4.0 1.9 -1.6 _____________________________________________________________________________ New methodologies and data The Bureau of Labor Statistics has switched to annual-weighted output indexes for computations underlying its Productivity and Costs news releases. This change parallels the changes made by the Bureau of Economic Analysis, U.S. Department of Commerce, on January 19, 1996, to replace its constant dollar series as the featured measure of real gross domestic product (GDP) with a chain-type, annual-weighted index. Annual and quarterly measures of output for the business, nonfarm business, and nonfinancial corporate sectors were computed by BEA using the same conventions used to compute GDP. For its historical annual data on manufacturing output, BLS is now using the annualweighted measure of "sectoral output" developed some years ago for its manufacturing multifactor productivity measures. This output series replaces the series on constant dollar gross product originating previously used. Quarterly data on manufacturing output, and annual data for the most recent one or two years, continue to be based on movements in the index of industrial production prepared monthly by the Board of Governors of the Federal Reserve System. 7 In addition, BLS business and nonfarm business output measures no longer exclude the statistical discrepancy--the measure of the difference between GDP as measured on the product side and on the income side. The product side adds up the value of goods and services produced while the income side adds up the disposition of the income generated by production in the form of wages, salaries, supplements, profits, net interest, and business taxes. Although conceptually equal, the two sides differ because they are measured using different data sources. The BLS measure will now be based on the product side rather than the income side. It has been determined that using the income side definition resulted in larger revisions of BLS productivity data between the preliminary and revised news releases than a product side definition would have. The comprehensive revisions made to the National Income and Product Accounts (NIPAs) by the Bureau of Economic Analysis on January 19, 1996, are reflected in the data in this news release. As a result of these comprehensive revisions, the productivity and cost measures included in this release incorporate new information on current dollar output levels, employee compensation, and employment trends. Appendix tables 1, 2, and 6 show revised annual productivity and related indexes from 1959 forward for the business, nonfarm business, and nonfinancial corporate sectors. Currently, there is no projected date for the availability of productivity and costs measures for the business and nonfarm business sectors for the 1947-58 period. For further information about the switch to annual-weighted indexes and the switch to the product side, see Edwin Dean, Michael Harper, and Phyllis Flohr Otto, "Improvements to the quarterly productivity measures," Monthly Labor Review, October 1995, pp. 27-32. Appendix tables 3-5 show revised annual productivity and related indexes from 1949 forward for the manufacturing sectors. For a discussion of the BLS manufacturing "sectoral output" measures, see William Gullickson, "Measurement of productivity growth in U.S. manufacturing," Monthly Labor Review, July 1995, pp. 13-28. Quarterly measures of output from 1991 forward for the manufacturing sectors, as well as the annual change for the year 1994, also incorporate revisions to the Federal Reserve Board's index of industrial production which were announced on November 30, 1995. The indexes of industrial production were revised back to January 1991 to incorporate additional or updated monthly source data and new seasonal factors. (See Federal Reserve Statistical Release G.17 (419).) In addition, the productivity and cost measures were revised to reflect the results of the 1994 Hours at Work Survey (HWS), which are now available. This survey is used to adjust the number of hours for which private nonfarm employees are paid, as reported in the BLS Current Establishment Survey, to hours at the workplace. For 1994, these new results show that hours of all persons increased slightly more than had originally been reported. In the nonfarm business sector, BLS estimates that hours were about 0.1 percentage point higher due to the incorporation of the 1994 survey. The long-term rates of productivity change have been affected by all of the above revisions. The compound annual rate of growth of business output per hour for 1979-94 is 1.2 percent (unchanged from the previous measure). For the same period, output per hour grew at a 1.0 percent rate for nonfarm business (down from 1.1 percent) and at a 1.8 percent rate for nonfinancial corporations (up from 1.7 percent). In the manufacturing sector, output per hour grew at a 2.8 percent rate (up from 2.5 percent). 8 Next release date The next release of Productivity and Costs is scheduled for 10:00 AM EST, Wednesday, March 6, 1996. Preliminary fourth-quarter and annual 1995 measures will be released at that time. Future release dates may be announced at that time. 9 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 currentdollar 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 10 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: 1800-326-2577. 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 1993 1994 I II III IV r100.2 r99.8 r100.1 r100.8 r101.4 r102.0 r102.8 r104.3 r101.3 r102.2 r102.6 r103.5 r101.6 r102.5 r103.0 r103.3 r99.6 r99.7 r99.8 r99.2 r101.4 r102.6 r102.9 r102.5 r102.2 r101.8 r102.4 r104.9 r101.7 r102.3 r102.7 r103.3 ANNUAL r100.2 r102.6 r102.4 r102.6 r99.6 r102.4 r102.8 r102.5 I II III IV r100.3 r100.7 r101.4 r101.5 r104.8 r106.5 r107.6 r108.7 r104.5 r105.8 r106.2 r107.1 r104.2 r104.5 r104.9 r105.7 r99.6 r99.3 r98.8 r99.0 r103.8 r103.9 r103.5 r104.1 r104.1 r105.4 r107.9 r108.3 r103.9 r104.4 r105.1 r105.6 ANNUAL r101.0 r106.9 r105.9 r104.8 r99.2 r103.8 r106.5 r104.8 1995 I r101.1 r108.8 r107.6 r106.6 r99.0 r105.4 r108.0 r106.3 II r101.9 r108.9 r106.9 r108.0 r99.6 r106.0 r108.4 r106.9 III r102.2 r110.0 r107.7 r109.1 r100.0 r106.8 r109.0 r107.6 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1993 1994 I II III IV r-3.7 r-1.3 r1.3 r2.7 r-1.1 r2.2 r3.0 r6.3 r2.6 3.6 1.7 3.5 r1.6 r3.4 r2.2 r1.1 r-1.4 r0.3 r0.5 r-2.1 r5.4 r4.8 r0.9 r-1.6 r-0.1 r-1.5 r2.2 r10.1 r3.4 r2.5 r1.4 r2.4 ANNUAL r0.2 r2.6 2.4 r2.6 r-0.4 r2.4 r2.8 r2.5 I II III IV r-1.9 r1.4 r2.8 r0.7 r1.8 r6.7 r4.1 r4.0 r3.7 r5.3 1.3 3.3 r3.4 r1.5 r1.5 r2.9 r1.3 r-1.0 r-2.0 r0.7 r5.4 r0.1 r-1.3 r2.3 r-2.8 r4.9 r10.0 r1.5 r2.4 r1.8 r2.6 r2.0 ANNUAL r0.7 r4.2 3.4 r2.2 r-0.4 r1.4 r3.5 r2.2 1995 I r-1.6 r0.6 2.2 r3.4 r0.3 r5.0 r-1.0 r2.8 II r3.0 r0.3 -2.5 r5.6 r2.1 r2.5 r1.2 r2.1 III r1.2 r4.1 2.8 r3.9 r1.9 r2.7 r2.3 r2.6 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1993 1994 1995 I II III IV r0.9 r-0.1 r0.4 r-0.3 r2.6 r2.4 r3.0 r2.6 1.8 2.5 r2.5 2.9 r3.0 r3.0 r2.3 r2.0 r-0.1 r-0.2 r-0.5 r-0.7 r2.2 r3.1 r1.9 r2.3 r3.0 r1.8 r3.8 r2.6 r2.5 r2.6 r2.6 r2.4 ANNUAL r0.2 r2.6 2.4 r2.6 r-0.4 r2.4 r2.8 r2.5 I II III IV r0.2 r0.8 r1.2 r0.7 r3.3 r4.4 r4.7 r4.2 3.1 r3.6 r3.5 3.4 r2.5 r2.0 r1.9 r2.3 r0.0 r-0.4 r-1.0 r-0.3 r2.3 r1.2 r0.6 r1.6 r1.9 r3.5 r5.4 r3.3 r2.2 r2.0 r2.3 r2.2 ANNUAL r0.7 r4.2 3.4 r2.2 r-0.4 r1.4 r3.5 r2.2 I r0.8 r3.8 3.0 r2.3 r-0.5 r1.5 r3.8 r2.3 II r1.2 r2.3 r1.1 r3.3 r0.3 r2.1 r2.9 r2.4 III r0.8 r2.2 1.4 r4.0 r1.2 r3.1 r1.0 r2.4 --------------------------------------------------------------------------------------------------------See footnotes following table 6. February 8, 1996 r=revised Source: Bureau of Labor Statistics 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 1993 1994 I II III IV r100.1 r99.7 r100.2 r100.6 r101.6 r102.2 r103.2 r104.6 r101.5 r102.5 r103.0 r103.9 r101.4 r102.1 r102.6 r102.9 r99.4 r99.3 r99.4 r98.9 r101.3 r102.4 r102.4 r102.3 r102.8 r102.2 r103.1 r105.3 r101.8 r102.4 r102.7 r103.3 ANNUAL r100.2 r102.9 r102.7 r102.3 r99.3 r102.1 r103.4 r102.5 I II III IV r100.0 r100.4 r101.1 r101.3 r104.8 r106.6 r107.7 r108.8 r104.8 r106.1 r106.5 r107.4 r103.7 r104.3 r104.6 r105.4 r99.1 r99.0 r98.5 r98.7 r103.7 r103.8 r103.4 r104.1 r104.3 r105.8 r108.6 r108.9 r103.9 r104.5 r105.3 r105.7 ANNUAL r100.7 r106.9 r106.2 r104.5 r98.9 r103.8 r106.9 r104.9 1995 I r101.0 r109.0 r107.9 r106.4 r98.9 r105.3 r108.7 r106.5 II r101.8 r109.1 r107.2 r107.8 r99.3 r105.9 r109.0 r107.0 III r102.1 r110.3 r108.0 r108.8 r99.8 r106.5 r109.6 r107.6 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1993 1994 I II III IV r-3.9 r-1.7 r2.1 r1.6 r-0.9 r2.4 r4.1 r5.3 r3.1 4.2 r2.0 r3.6 r1.0 r2.7 r2.0 r1.1 r-2.0 r-0.3 r0.3 r-2.1 r5.1 r4.5 r-0.1 r-0.5 r1.5 r-2.3 r3.7 r8.6 r3.8 r2.1 r1.2 r2.6 ANNUAL r0.2 r2.9 2.7 r2.3 r-0.7 r2.1 r3.4 r2.5 I II III IV r-2.5 r1.9 r2.6 r0.9 r0.9 r6.8 r4.2 r4.2 r3.5 r4.8 1.6 3.3 r3.3 r2.1 r1.2 r3.3 r1.1 r-0.4 r-2.3 r1.0 r5.9 r0.2 r-1.4 r2.4 r-3.6 r6.0 r11.0 r0.9 r2.5 r2.2 r2.9 r1.8 ANNUAL r0.5 r4.0 r3.4 r2.2 r-0.4 r1.6 r3.5 r2.3 1995 I r-1.1 r0.8 r1.9 r3.7 r0.6 r4.9 r-0.5 r2.9 II r3.0 r0.5 -2.4 r5.4 r2.0 r2.3 r1.1 r1.9 III r1.4 r4.4 2.9 r3.9 r1.8 r2.4 r2.0 r2.3 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1993 1994 1995 I II III IV r0.9 r-0.3 r0.6 r-0.5 r2.8 r2.6 r3.5 r2.7 1.9 2.9 2.9 3.2 r2.9 r2.6 r1.9 r1.7 r-0.2 r-0.6 r-0.8 r-1.0 r2.0 r2.8 r1.4 r2.2 r3.6 r2.2 r4.8 2.8 r2.6 r2.6 r2.6 r2.4 ANNUAL r0.2 r2.9 2.7 r2.3 r-0.7 r2.1 r3.4 r2.5 I II III IV r-0.2 r0.8 r0.9 r0.7 r3.2 r4.3 r4.3 r4.0 3.3 r3.5 r3.4 3.3 r2.3 r2.1 r1.9 r2.5 r-0.3 r-0.3 r-0.9 r-0.2 r2.4 r1.3 r1.0 r1.8 r1.5 r3.6 r5.4 r3.4 r2.1 r2.1 r2.5 r2.3 ANNUAL r0.5 r4.0 r3.4 r2.2 r-0.4 r1.6 r3.5 r2.3 I r1.1 r4.0 2.9 r2.6 r-0.3 r1.5 r4.2 r2.4 II r1.3 r2.4 1.1 r3.4 r0.3 r2.0 r3.0 r2.4 III r1.1 r2.5 1.4 r4.1 r1.4 r3.0 r0.8 r2.2 --------------------------------------------------------------------------------------------------------See footnotes following table 6. February 8, 1996 r=revised Source: Bureau of Labor Statistics 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 1993 1994 I II III IV r101.5 r101.6 r102.1 r102.9 r102.5 r102.8 r103.6 r105.1 r101.0 r101.2 r101.5 r102.1 r101.1 r102.0 r102.7 r103.5 r99.1 r99.2 r99.5 r99.4 r99.6 r100.4 r100.6 r100.5 ANNUAL r102.1 r103.5 r101.4 r102.4 r99.4 r100.3 I II III IV r104.7 r106.1 r106.9 r107.8 r107.3 r109.5 r110.9 r113.0 r102.5 r103.2 r103.8 r104.8 r104.3 r104.7 r105.6 r106.4 r99.7 r99.5 r99.5 r99.7 r99.7 r98.7 r98.8 r98.7 ANNUAL r106.3 r110.2 r103.6 r105.3 r99.7 r99.0 1995 I r108.4 r114.1 r105.3 r107.0 r99.4 r98.7 II r109.5 r113.5 r103.7 r107.9 r99.5 r98.6 III r111.0 r114.2 r102.9 r109.0 r99.9 r98.2 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1993 1994 I II III IV r2.2 r0.4 r1.8 r3.4 r4.6 r1.1 r3.0 r5.9 r2.3 0.8 1.2 r2.4 r0.8 r3.4 r2.7 r3.2 r-2.2 r0.4 r1.0 r-0.1 r-1.4 r3.1 r0.9 r-0.2 ANNUAL r2.1 r3.5 1.4 r2.4 r-0.6 r0.3 I II III IV r6.9 r5.7 r3.0 r3.5 r8.8 r8.5 r5.1 r7.9 r1.8 r2.6 r2.1 4.2 r3.4 r1.4 r3.6 r3.1 r1.3 r-1.1 r0.0 r0.8 r-3.2 r-4.0 r0.6 r-0.4 ANNUAL r4.2 r6.5 r2.2 r2.8 r0.3 r-1.3 1995 I r2.2 r3.9 1.6 r2.1 r-0.9 r-0.1 II r4.0 r-2.1 -5.9 r3.5 r0.1 r-0.5 III r5.7 r2.6 r-2.9 r4.0 r1.9 r-1.6 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1993 1994 1995 I II III IV r2.9 r2.1 r1.7 r1.9 r4.3 r3.0 r3.1 r3.6 1.3 0.9 1.4 1.7 r2.7 r2.4 r2.2 r2.5 r-0.5 r-0.8 r-0.6 r-0.2 -0.3 r0.3 r0.5 r0.6 ANNUAL r2.1 r3.5 1.4 r2.4 r-0.6 r0.3 I II III IV r3.1 r4.4 r4.7 r4.7 r4.7 r6.5 r7.1 r7.6 r1.5 r2.0 r2.2 r2.7 r3.2 r2.7 r2.9 r2.9 r0.7 r0.3 r0.0 r0.2 r0.1 r-1.7 r-1.7 r-1.8 ANNUAL r4.2 r6.5 r2.2 r2.8 r0.3 r-1.3 I r3.6 r6.3 r2.6 r2.5 r-0.3 r-1.0 II r3.2 r3.6 0.4 r3.1 r0.0 r-0.1 III r3.8 r3.0 -0.8 3.2 0.5 r-0.7 -------------------------------------------------------------------------------------------------See footnotes following table 6. February 8, 1996 r=revised Source: Bureau of Labor Statistics 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 1993 1994 I II III IV r102.3 r102.8 r103.0 r104.9 r103.3 r104.0 r104.8 r107.5 r101.0 r101.1 r101.7 r102.5 r101.0 r101.8 r102.4 r103.3 r99.0 r99.0 r99.2 99.3 r98.7 r99.0 r99.4 r98.5 ANNUAL r103.4 r104.9 r101.5 r102.2 r99.3 r98.9 I II III IV r106.8 r108.2 r109.4 r110.6 r110.4 r112.6 r114.8 r117.5 r103.3 r104.1 r104.9 r106.3 r104.2 r104.5 r105.4 r106.0 r99.6 r99.3 r99.2 r99.3 r97.5 r96.6 r96.3 r95.9 ANNUAL r108.7 r113.8 r104.7 r105.0 r99.4 r96.6 1995 I r111.8 r119.5 r106.9 r106.4 r98.9 r95.2 II r112.5 r119.0 r105.7 r107.0 r98.6 r95.1 III r114.3 r120.4 r105.3 r108.1 r99.1 r94.5 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1993 1994 I II III IV r3.6 r2.0 r0.7 r7.3 r6.3 r2.4 r3.4 r10.7 r2.6 0.4 r2.6 r3.1 r0.8 r3.2 r2.5 r3.6 r-2.2 r0.2 r0.8 r0.4 r-2.7 r1.2 r1.7 r-3.5 ANNUAL r3.4 r4.9 1.5 r2.2 r-0.7 r-1.1 I II III IV r7.6 r5.2 r4.5 r4.3 r11.0 r8.6 7.8 r9.9 r3.1 r3.2 r3.2 5.4 r3.4 r1.2 r3.4 r2.4 r1.2 r-1.4 r-0.2 r0.2 r-4.0 r-3.8 r-1.0 r-1.8 ANNUAL r5.2 8.5 r3.2 r2.7 r0.1 r-2.3 1995 I r4.5 r7.0 2.3 r1.4 r-1.7 r-3.0 II r2.7 r-1.9 r-4.4 r2.5 r-0.9 r-0.2 III r6.6 r5.1 r-1.5 r4.0 r1.9 r-2.5 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1993 1994 1995 I II III IV r4.6 r3.1 r2.5 r3.4 r5.7 r4.1 r4.3 r5.6 1.0 0.9 1.8 2.2 r2.5 r2.1 r1.9 r2.5 r-0.6 r-1.0 r-0.9 r-0.2 r-2.0 r-1.0 r-0.6 r-0.8 ANNUAL r3.4 r4.9 1.5 r2.2 r-0.7 r-1.1 I II III IV r4.4 r5.2 r6.2 r5.4 r6.8 r8.4 r9.5 r9.3 r2.3 r3.0 r3.2 r3.7 r3.2 r2.7 r2.9 r2.6 r0.6 r0.2 r0.0 r0.0 r-1.2 r-2.4 r-3.1 r-2.7 ANNUAL r5.2 8.5 r3.2 r2.7 r0.1 r-2.3 I r4.6 r8.3 r3.5 2.1 -0.8 r-2.4 II r4.0 r5.6 1.5 r2.4 r-0.6 r-1.5 III r4.5 r4.9 r0.4 2.6 -0.1 r-1.9 -------------------------------------------------------------------------------------------------See footnotes following table 6. February 8, 1996 r=revised Source: Bureau of Labor Statistics 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 1993 1994 I II III IV r100.8 r100.5 r101.4 r101.2 r101.8 r101.8 r102.5 r102.7 r101.0 r101.3 r101.1 r101.5 r101.3 r102.3 r103.0 r103.6 r99.3 r99.5 r99.8 r99.6 r100.5 r101.8 r101.6 r102.4 ANNUAL r101.0 r102.2 r101.2 r102.6 r99.6 r101.6 I II III IV r102.7 r104.3 r104.6 r105.3 r104.3 r106.3 r106.9 r108.3 r101.5 r102.0 r102.2 r102.8 r104.4 r104.9 r105.8 r106.8 r99.8 r99.6 r99.6 r100.0 r101.6 r100.6 r101.2 r101.5 ANNUAL r104.2 r106.5 r102.2 r105.5 r99.8 r101.2 1995 I r105.3 r108.4 r103.0 r107.6 r100.0 r102.3 II r106.8 r107.8 r100.9 r108.9 r100.4 r102.0 III r108.0 r107.7 r99.6 r109.9 r100.8 r101.7 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1993 1994 I II III IV r1.0 -1.3 r3.5 -0.7 r2.9 -0.1 r2.8 r0.7 1.9 1.2 -0.7 1.5 r0.8 r3.9 r2.8 r2.3 r-2.2 r0.9 r1.1 r-0.9 r-0.3 r5.3 r-0.6 r3.1 ANNUAL r1.0 r2.2 1.2 r2.6 r-0.4 r1.6 I II III IV r6.3 r6.0 r1.3 r2.7 r6.4 r8.1 r2.0 r5.4 0.1 1.9 0.7 2.6 r3.2 r1.7 r3.7 r3.9 r1.0 r-0.9 r0.1 r1.6 r-3.0 r-4.1 r2.3 r1.2 ANNUAL r3.2 r4.1 r0.9 r2.8 r0.2 -0.4 1995 I r-0.1 r0.6 0.7 r3.1 r0.0 r3.2 II r5.9 r-2.5 -7.9 r4.8 r1.3 r-1.1 III r4.8 r-0.3 -4.9 r3.7 r1.6 r-1.1 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1993 1994 1995 I II III IV r1.4 r1.2 r1.1 r0.6 r3.0 r2.2 r2.1 r1.6 r1.7 1.0 1.0 1.0 r2.9 r2.8 r2.5 r2.4 r-0.2 r-0.4 r-0.3 r-0.3 r1.6 r1.5 r1.5 r1.8 ANNUAL r1.0 r2.2 1.2 r2.6 r-0.4 r1.6 I II III IV r1.9 r3.7 r3.2 r4.1 r2.4 r4.4 r4.3 r5.4 r0.5 0.7 r1.0 1.3 r3.0 r2.5 r2.7 r3.1 r0.5 r0.1 r-0.2 r0.5 r1.1 r-1.2 r-0.5 r-0.9 ANNUAL r3.2 r4.1 r0.9 r2.8 r0.2 -0.4 I r2.5 r4.0 1.5 r3.1 r0.2 r0.6 II r2.4 r1.3 -1.1 r3.9 r0.8 r1.4 III r3.3 r0.7 -2.5 r3.9 1.1 r0.6 -------------------------------------------------------------------------------------------------See footnotes following table 6. February 8, 1996 r=revised Source: Bureau of Labor Statistics 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 cost fits deflator quarter hour Output hours (1) sation(2) costs cost(6) (7) (8) (4) ----------------------------------------------------------------------------------------------------------Indexes 1992=100 1993 1994 I II III IV r100.1 r101.0 r101.5 r102.4 r101.3 r102.9 r104.2 r106.1 r101.1 r101.9 r102.6 r103.6 r101.4 r101.9 r102.5 r102.8 r99.4 r99.2 r99.3 r98.7 r101.3 r100.9 r100.9 r100.4 r100.7 r100.0 r99.8 r99.2 r101.1 r100.7 r100.6 r100.1 r102.9 r111.5 r115.6 r128.5 r101.2 r101.5 r101.8 r102.3 ANNUAL r101.3 r103.6 r102.2 r102.2 r99.2 r100.9 r99.9 r100.6 r114.8 r101.7 I II III IV r102.4 r102.6 r102.6 r103.2 r107.2 r108.9 r109.6 r111.6 r104.7 r106.2 r106.9 r108.1 r103.3 r103.8 r104.2 r105.2 r98.8 r98.6 r98.1 r98.5 r100.9 r101.2 r101.6 r101.9 r102.3 r98.7 r99.3 r98.2 r101.3 r100.5 r100.9 r100.9 r120.8 r134.5 r136.5 r141.3 r102.8 r103.1 r103.7 r104.0 ANNUAL r102.7 r109.3 r106.4 r104.2 r98.6 r101.4 r99.6 r100.9 r133.4 r103.4 1995 I r102.3 r111.3 r108.8 r105.6 r98.1 r103.2 r100.0 r102.3 r131.0 r104.5 II r103.2 r111.8 r108.3 r107.0 r98.6 r103.7 r101.2 r103.0 r130.5 r105.1 III 104.7 113.9 108.8 108.1 99.1 103.3 99.9 102.4 142.2 105.4 ----------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1993 1994 I II III IV r-4.8 r3.6 r2.1 r3.2 r-2.9 r6.6 r5.0 r7.5 2.0 r2.9 r2.8 r4.1 r0.8 r2.2 r2.2 r1.0 r-2.2 r-0.8 r0.5 r-2.2 r5.8 r-1.4 r0.1 r-2.1 r7.8 r-2.7 r-1.0 r-2.2 r6.4 r-1.7 r-0.2 r-2.2 r-24.5 r38.0 r15.4 r52.4 r3.4 r1.0 r1.1 r1.9 ANNUAL r1.3 r3.6 2.2 r2.2 r-0.8 r0.9 r-0.1 r0.6 r14.8 r1.7 I II III IV r0.1 r0.9 r-0.2 r2.6 r4.2 r6.8 r2.5 r7.5 r4.1 r5.9 r2.7 4.8 r2.2 r1.8 r1.4 r4.0 r0.1 r-0.7 r-2.1 r1.7 r2.2 r0.9 r1.5 r1.4 r13.2 r-13.4 r2.3 r-4.4 r5.0 r-3.2 r1.7 r-0.2 r-21.8 r53.6 r6.3 r14.8 2.2 r1.2 r2.2 r1.3 ANNUAL r1.4 r5.5 r4.1 r1.9 -0.6 r0.5 r-0.3 r0.3 r16.2 r1.7 1995 I r-3.5 r-1.1 r2.5 r1.4 r-1.6 r5.1 r7.9 r5.9 r-26.1 r2.1 II r3.7 r1.6 r-2.0 r5.6 r2.1 r1.9 r4.7 r2.6 r-1.6 r2.2 III 5.7 7.8 2.0 4.1 2.0 -1.5 -5.0 -2.5 40.9 1.1 ----------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1993 1994 1995 I II III IV r1.0 r1.6 r1.4 r1.0 r2.7 r3.7 r4.0 r4.0 r1.7 2.0 r2.6 r2.9 r2.9 r2.3 r1.8 r1.5 r-0.3 r-0.8 r-0.9 r-1.2 r1.8 r0.7 r0.5 r0.6 r0.3 r0.2 r-1.2 r0.4 r1.4 r0.6 r0.0 r0.5 r5.6 r13.8 r23.2 r16.3 r1.7 r1.6 r1.7 r1.8 ANNUAL r1.3 r3.6 2.2 r2.2 r-0.8 r0.9 r-0.1 r0.6 r14.8 r1.7 I II III IV r2.2 r1.6 r1.0 r0.8 r5.8 r5.9 r5.2 r5.2 r3.5 r4.2 r4.2 r4.4 r1.9 r1.8 r1.6 r2.4 r-0.6 r-0.6 r-1.2 r-0.3 r-0.3 r0.3 r0.6 r1.5 r1.6 r-1.3 r-0.5 r-1.0 r0.2 r-0.2 0.3 r0.8 r17.4 r20.6 r18.1 r10.0 r1.5 r1.6 r1.9 r1.7 ANNUAL r1.4 r5.5 r4.1 r1.9 -0.6 r0.5 r-0.3 r0.3 r16.2 r1.7 I r-0.1 r3.9 r4.0 r2.2 r-0.7 r2.2 r-2.2 r1.0 r8.4 r1.7 II r0.6 r2.6 2.0 r3.1 r0.0 r2.5 r2.5 r2.5 r-3.0 r1.9 III 2.1 3.9 1.8 3.8 1.1 1.7 0.6 1.4 4.1 1.7 ----------------------------------------------------------------------------------------------------------See footnotes following table 6. February 8, 1996 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 selfemployed, data also include an estimate of wages, salaries, and supplemental payments for the self-employed. (2) Compensation per hour adjusted for changes in the Consumer Price Index for All Urban Consumers. (3) Unit nonlabor payments include profits, capital consumption allowances, interest, rental income of persons, 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 cost includes 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 cost is 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 Indexes 1992=100 Real Output per Hours Compensacompensa- Unit Unit nonImplicit hour of of all tion per tion per labor labor pay- price Year all persons Output persons hour(1) hour(2) costs ments(3) deflator(4) ------------------------------------------------------------------------------------------------1959 49.8 33.8 67.8 12.9 62.1 25.9 24.9 25.5 1960 1961 1962 1963 1964 50.5 52.2 54.8 56.9 59.6 34.3 34.9 37.1 38.8 41.3 67.9 66.8 67.8 68.2 69.2 13.4 14.0 14.6 15.2 16.0 63.7 65.5 67.9 69.6 72.3 26.6 26.7 26.7 26.7 26.8 24.5 25.0 25.7 26.3 26.9 25.8 26.1 26.4 26.5 26.8 1965 1966 1967 1968 1969 61.8 64.4 65.9 68.2 68.7 44.2 47.1 48.0 50.4 52.0 71.4 73.1 72.9 73.9 75.7 16.6 17.7 18.7 20.3 21.7 73.9 76.8 78.7 81.7 83.1 26.8 27.5 28.4 29.7 31.7 28.1 28.8 29.4 30.2 30.2 27.3 28.0 28.8 29.9 31.1 1970 1971 1972 1973 1974 69.8 72.7 75.2 77.6 76.6 51.8 53.8 57.4 61.3 60.6 74.3 74.0 76.3 79.0 79.1 23.4 24.9 26.5 28.8 31.6 84.6 86.2 88.9 90.9 89.9 33.5 34.2 35.2 37.1 41.2 30.8 33.6 35.1 36.9 38.7 32.6 34.0 35.2 37.0 40.4 1975 1976 1977 1978 1979 79.0 82.2 83.8 84.5 84.3 59.9 64.0 67.8 71.6 73.8 75.8 77.9 80.9 84.8 87.5 34.8 38.0 41.0 44.7 49.1 90.7 93.6 95.0 96.3 94.9 44.1 46.2 48.9 53.0 58.3 44.7 47.2 49.9 53.4 56.6 44.3 46.6 49.3 53.1 57.7 1980 1981 1982 1983 1984 84.1 85.8 85.2 88.0 90.2 72.9 74.9 72.6 76.2 82.5 86.8 87.3 85.2 86.6 91.5 54.4 59.6 64.1 66.7 69.6 92.7 92.0 93.1 93.9 94.0 64.7 69.5 75.2 75.7 77.2 59.5 67.0 67.9 74.4 78.6 62.9 68.6 72.6 75.3 77.7 1985 1986 1987 1988 1989 91.9 94.2 94.1 94.6 95.4 85.9 88.6 91.1 94.6 97.8 93.4 94.0 96.8 100.0 102.5 73.1 76.9 79.9 83.5 85.8 95.3 98.4 98.6 99.0 97.1 79.5 81.6 84.9 88.2 89.9 80.4 81.7 81.9 84.2 91.4 79.9 81.6 83.8 86.8 90.5 1990 96.2 98.7 102.6 90.8 97.4 94.3 93.5 94.0 1991 96.7 96.9 100.3 95.1 97.9 98.3 96.5 97.7 1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1993 100.2 102.6 102.4 102.6 99.6 102.4 102.8 102.5 1994 101.0 106.9 105.9 104.8 99.2 103.8 106.5 104.8 ------------------------------------------------------------------------------------------------See footnotes following table 6, above. February 8, 1996 Source: Bureau of Labor Statistics Appendix Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor costs, and prices Indexes 1992=100 Real Output per Hours Compensacompensa- Unit Unit nonImplicit hour of of all tion per tion per labor labor pay- price Year all persons Output persons hour(1) hour(2) costs ments(3) deflator(4) ------------------------------------------------------------------------------------------------1959 54.1 33.5 61.9 13.7 65.8 25.3 24.6 25.0 1960 1961 1962 1963 1964 54.7 56.4 59.0 61.0 63.7 34.0 34.7 37.1 38.7 41.4 62.3 61.5 62.8 63.5 65.0 14.3 14.7 15.3 15.9 16.6 67.6 69.2 71.3 72.9 75.3 26.1 26.2 26.0 26.1 26.1 23.9 24.4 25.3 25.8 26.6 25.3 25.5 25.8 26.0 26.3 1965 1966 1967 1968 1969 65.7 68.0 69.2 71.6 71.7 44.3 47.4 48.2 50.8 52.3 67.4 69.7 69.7 70.9 72.9 17.2 18.2 19.2 20.8 22.2 76.5 78.7 80.8 83.7 84.8 26.2 26.7 27.8 29.0 30.9 27.7 28.3 28.9 29.9 29.7 26.7 27.3 28.2 29.3 30.5 1970 1971 1972 1973 1974 72.6 75.6 78.2 80.7 79.4 52.2 54.1 57.9 62.1 61.1 71.8 71.6 74.0 76.9 77.0 23.8 25.3 27.0 29.2 32.1 86.0 87.7 90.5 92.2 91.2 32.7 33.5 34.5 36.1 40.4 30.3 33.0 34.0 34.4 36.7 31.9 33.3 34.3 35.5 39.1 1975 1976 1977 1978 1979 81.5 84.5 85.8 87.0 86.4 60.1 64.3 68.0 72.3 74.3 73.7 76.1 79.2 83.2 86.1 35.3 38.4 41.4 45.2 49.5 92.1 94.6 95.9 97.3 95.7 43.3 45.4 48.3 52.0 57.3 43.0 46.2 49.2 51.9 54.8 43.2 45.6 48.6 51.9 56.4 1980 1981 1982 1983 1984 86.0 87.0 86.3 89.9 91.5 73.5 74.8 72.4 76.8 82.8 85.4 86.0 83.9 85.4 90.5 54.8 60.2 64.6 67.3 70.2 93.4 92.9 93.9 94.9 94.8 63.8 69.1 74.9 74.9 76.8 58.5 65.6 67.2 74.2 77.5 61.9 67.9 72.2 74.7 77.0 1985 1986 1987 1988 1989 92.4 94.9 94.7 95.3 95.8 85.8 88.7 91.4 95.1 98.1 92.8 93.5 96.5 99.8 102.4 73.5 77.3 80.2 83.6 85.8 95.8 98.9 99.0 99.2 97.1 79.5 81.4 84.7 87.8 89.6 80.0 81.3 81.4 83.8 90.8 79.7 81.4 83.5 86.4 90.0 1990 96.3 98.8 102.7 90.6 97.3 94.1 93.2 93.8 1991 96.9 97.1 100.2 95.1 97.9 98.1 96.7 97.6 1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1993 100.2 102.9 102.7 102.3 99.3 102.1 103.4 102.5 1994 100.7 106.9 106.2 104.5 98.9 103.8 106.9 104.9 ------------------------------------------------------------------------------------------------See footnotes following table 6, above. February 8, 1996 Source: Bureau of Labor Statistics Appendix Table 3. 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 26.6 79.3 8.3 48.8 24.7 1950 1951 1952 1953 1954 34.1 33.8 35.0 36.1 37.0 29.2 31.2 32.8 35.5 33.2 85.7 92.3 93.5 98.3 89.9 8.7 9.6 10.2 10.8 11.3 50.6 51.7 54.0 56.6 58.7 25.5 28.4 29.1 29.8 30.4 1955 1956 1957 1958 1959 38.7 38.4 39.2 39.8 40.5 36.6 37.0 37.1 34.5 37.5 94.8 96.2 94.7 86.8 92.6 11.7 12.4 13.2 13.8 14.3 61.2 64.2 65.8 67.0 69.0 30.2 32.4 33.6 34.7 35.3 1960 1961 1962 1963 1964 41.2 42.5 43.6 45.4 47.4 38.0 38.2 40.9 43.0 45.7 92.3 89.9 93.6 94.5 96.5 14.9 15.3 15.9 16.4 17.1 70.6 72.0 74.0 75.2 77.4 36.2 36.1 36.5 36.1 36.1 1965 1966 1967 1968 1969 48.4 49.0 50.9 52.7 53.4 49.4 53.3 55.1 57.8 59.3 102.1 108.8 108.1 109.7 111.0 17.5 18.2 19.2 20.7 22.2 77.8 79.0 80.8 83.5 85.0 36.1 37.3 37.8 39.3 41.6 1970 1971 1972 1973 1974 55.0 58.6 60.7 62.5 63.2 57.5 59.0 63.9 69.1 68.4 104.5 100.7 105.2 110.5 108.1 23.8 25.3 26.6 28.6 31.8 86.1 87.5 89.2 90.5 90.5 43.3 43.1 43.8 45.8 50.3 1975 1976 1977 1978 1979 65.1 67.8 70.2 71.1 70.7 63.4 69.1 74.5 78.7 79.7 97.4 101.9 106.2 110.6 112.8 35.7 38.6 42.0 45.4 49.8 93.0 95.3 97.2 97.6 96.3 54.8 57.0 59.8 63.8 70.5 1980 1981 1982 1983 1984 71.2 72.1 75.5 78.4 80.7 76.6 77.2 74.0 77.6 85.0 107.6 107.0 98.0 99.0 105.4 55.8 61.3 67.2 69.0 71.4 94.9 94.6 97.7 97.3 96.4 78.3 85.0 89.0 88.1 88.5 1985 1986 1987 1988 1989 83.7 87.5 89.8 91.0 92.5 87.6 90.2 93.3 97.2 99.2 104.6 103.1 103.8 106.8 107.2 75.3 78.6 80.9 84.0 86.7 98.1 100.6 99.9 99.6 98.1 89.9 89.9 90.0 92.3 93.7 1990 94.2 98.8 104.9 90.9 97.6 96.5 1991 96.5 97.1 100.6 95.7 98.6 99.1 1992 100.0 100.0 100.0 100.0 100.0 100.0 1993 102.1 103.5 101.4 102.4 99.4 100.3 1994 106.3 110.2 103.6 105.3 99.7 99.0 -----------------------------------------------------------------------------------------See footnotes following table 6, above. February 8, 1996 Source: Bureau of Labor Statistics Appendix Table 4. Durable 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 31.5 22.8 72.2 8.1 47.8 25.7 1950 1951 1952 1953 1954 33.4 32.0 33.5 35.4 35.4 26.8 29.1 31.2 35.5 31.4 80.5 90.8 93.1 100.1 88.6 8.5 9.5 10.2 10.7 11.2 49.7 51.0 53.8 56.3 58.5 25.6 29.5 30.3 30.3 31.7 1955 1956 1957 1958 1959 37.3 35.7 36.1 35.8 36.9 35.3 34.5 34.5 30.2 33.8 94.6 96.8 95.6 84.4 91.6 11.7 12.5 13.2 13.9 14.4 61.3 64.3 65.9 67.7 69.6 31.4 34.9 36.5 39.0 39.1 1960 1961 1962 1963 1964 37.0 38.1 39.6 41.7 43.4 33.9 33.4 36.8 39.4 42.2 91.4 87.9 92.8 94.5 97.1 15.0 15.5 16.1 16.5 17.2 71.2 72.6 74.7 75.8 77.8 40.6 40.6 40.6 39.6 39.6 1965 1966 1967 1968 1969 45.2 46.0 47.6 49.3 49.8 47.1 52.0 53.5 56.1 57.6 104.2 113.2 112.4 114.0 115.7 17.5 18.3 19.2 20.7 22.2 78.0 79.1 80.7 83.5 84.9 38.8 39.7 40.4 42.0 44.6 1970 1971 1972 1973 1974 50.5 54.3 57.3 59.9 59.7 53.9 55.0 61.4 69.1 67.7 106.7 101.2 107.1 115.3 113.4 23.9 25.5 26.8 28.7 31.8 86.3 88.3 89.9 90.7 90.5 47.2 46.9 46.7 47.9 53.2 1975 1976 1977 1978 1979 60.5 63.1 65.1 66.0 65.9 60.4 65.8 71.7 76.9 79.2 99.8 104.3 110.1 116.6 120.2 35.9 39.0 42.4 45.5 49.9 93.7 96.2 98.1 97.9 96.5 59.4 61.9 65.1 69.0 75.8 1980 1981 1982 1983 1984 65.7 66.6 68.9 72.6 75.9 74.4 74.9 69.3 73.5 83.7 113.1 112.3 100.7 101.3 110.3 56.1 61.8 67.8 69.3 71.3 95.6 95.3 98.6 97.6 96.2 85.4 92.7 98.4 95.5 93.9 1985 1986 1987 1988 1989 78.2 81.8 86.6 88.5 90.5 86.2 87.8 92.8 98.4 100.6 110.2 107.4 107.2 111.2 111.2 75.0 78.7 81.0 83.7 86.4 97.7 100.7 100.1 99.3 97.8 95.9 96.2 93.6 94.6 95.5 1990 92.5 99.4 107.5 90.5 97.1 97.9 1991 94.8 96.2 101.5 95.4 98.3 100.7 1992 100.0 100.0 100.0 100.0 100.0 100.0 1993 103.4 104.9 101.5 102.2 99.3 98.9 1994 108.7 113.8 104.7 105.0 99.4 96.6 -----------------------------------------------------------------------------------------See footnotes following table 6, above. February 8, 1996 Source: Bureau of Labor Statistics Appendix Table 5. Nondurable manufacturing sector: Productivity, hourly compensation, 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 34.3 30.4 88.8 8.6 50.9 25.2 1950 1951 1952 1953 1954 34.5 35.5 36.5 37.2 38.7 32.0 33.4 34.4 35.6 35.4 92.8 94.3 94.2 95.9 91.6 9.0 9.8 10.3 10.8 11.4 52.5 52.8 54.4 56.8 59.2 26.1 27.6 28.2 29.1 29.3 1955 1956 1957 1958 1959 40.3 41.9 43.0 44.4 45.5 38.3 39.9 40.2 40.0 42.8 95.0 95.3 93.5 90.1 94.1 11.7 12.4 13.1 13.7 14.1 61.1 64.0 65.6 66.3 68.1 28.9 29.6 30.5 30.8 31.0 1960 46.7 43.6 93.5 14.7 69.9 31.6 1961 1962 1963 1964 48.0 48.8 50.7 52.7 44.4 46.2 48.0 50.5 92.5 94.6 94.7 95.7 15.2 15.7 16.2 16.9 71.5 73.1 74.4 76.5 31.7 32.2 32.0 32.1 1965 1966 1967 1968 1969 53.1 53.7 56.1 58.2 59.5 52.7 55.2 57.5 60.5 62.3 99.4 102.8 102.5 104.0 104.8 17.3 18.0 19.1 20.5 22.0 77.0 78.2 80.2 82.7 84.2 32.6 33.6 34.0 35.2 37.0 1970 1971 1972 1973 1974 61.8 64.5 66.5 67.5 69.5 62.8 64.5 68.3 70.3 70.2 101.7 100.0 102.7 104.2 101.1 23.6 24.9 26.2 28.2 31.5 85.5 86.3 87.8 89.1 89.5 38.3 38.6 39.3 41.8 45.3 1975 1976 1977 1978 1979 71.5 74.4 77.9 79.4 78.9 67.3 73.5 78.7 81.5 81.1 94.1 98.7 100.9 102.6 102.9 35.0 37.8 41.0 44.5 48.8 91.2 93.1 94.9 95.9 94.4 48.9 50.8 52.6 56.1 61.9 1980 1981 1982 1983 1984 79.2 80.2 83.6 85.0 86.6 79.4 80.1 78.9 81.6 85.6 100.2 99.9 94.4 95.9 98.9 54.4 59.8 65.8 68.3 70.9 92.7 92.2 95.7 96.1 95.7 68.7 74.5 78.7 80.3 81.9 1985 1986 1987 1988 1989 89.7 92.5 94.2 94.8 95.4 87.2 90.1 93.7 95.8 97.3 97.2 97.3 99.4 101.0 102.0 74.8 77.8 79.9 83.7 86.5 97.6 99.6 98.7 99.2 97.9 83.4 84.1 84.8 88.3 90.6 1990 96.5 98.0 101.5 91.1 97.8 94.4 1991 98.3 97.8 99.4 95.9 98.8 97.5 1992 100.0 100.0 100.0 100.0 100.0 100.0 1993 101.0 102.2 101.2 102.6 99.6 101.6 1994 104.2 106.5 102.2 105.5 99.8 101.2 -----------------------------------------------------------------------------------------See footnotes following table 6, above. February 8, 1996 Source: Bureau of Labor Statistics Appendix Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor costs, profits, and prices Indexes 1992=100 Output Hourly Real Unit Total Unit Implicit per allcompenhourly Unit nonunit pro- price employee Employee sation compenlabor labor cost fits deflator Year hour Output Hours (1) sation(2) costs cost(6) (7) (8) (4) --------------------------------------------------------------------------------------------------1959 53.8 28.2 52.5 14.9 71.7 27.6 24.0 26.7 57.5 29.0 1960 1961 1962 1963 1964 54.5 56.2 58.5 60.7 63.2 29.0 29.7 32.1 34.0 36.5 53.3 52.8 54.9 56.1 57.7 15.5 16.0 16.6 17.1 17.9 73.4 75.0 77.2 78.6 81.0 28.4 28.5 28.4 28.2 28.3 24.8 25.3 24.9 24.7 24.6 27.4 27.6 27.5 27.3 27.3 52.3 52.5 57.7 61.2 63.9 29.3 29.5 29.8 29.9 30.1 1965 1966 1967 1968 1969 64.5 64.9 65.8 68.2 68.1 39.3 41.8 42.8 45.6 47.4 61.0 64.3 65.1 66.9 69.5 18.4 19.4 20.5 22.0 23.5 82.0 84.0 86.0 88.7 89.9 28.5 29.9 31.1 32.3 34.5 24.5 24.8 26.3 27.8 29.8 27.4 28.5 29.8 31.1 33.2 69.4 69.4 64.7 64.6 58.3 30.7 31.6 32.5 33.6 35.1 1970 1971 1972 1973 1974 68.2 71.3 73.2 73.6 71.9 46.8 48.8 52.6 55.5 54.6 68.6 68.4 71.9 75.5 75.9 25.2 26.8 28.3 30.5 33.4 91.0 92.7 95.0 96.5 95.1 36.9 37.5 38.7 41.5 46.5 33.4 34.8 35.0 36.7 42.2 35.9 36.8 37.7 40.2 45.3 47.3 53.7 57.6 59.2 50.9 36.8 38.1 39.2 41.6 45.8 1975 1976 1977 1978 1979 74.4 77.3 79.6 80.0 78.7 53.5 58.0 62.6 66.4 67.9 71.9 75.0 78.5 83.0 86.2 36.8 39.9 43.1 46.8 51.1 95.9 98.4 99.7 100.7 98.8 49.4 51.6 54.1 58.5 65.0 48.2 47.9 50.9 54.3 60.2 49.1 50.6 53.2 57.4 63.7 67.6 76.4 78.3 82.1 75.1 50.5 52.6 55.1 59.3 64.6 1980 1981 1982 1983 1984 79.7 82.4 83.8 86.5 88.9 68.1 71.4 70.5 73.8 80.7 85.4 86.6 84.1 85.3 90.9 56.4 61.6 66.0 68.4 71.3 96.1 95.1 95.9 96.3 96.2 70.8 74.8 78.7 79.0 80.2 69.6 79.0 85.1 85.3 83.8 70.5 75.9 80.4 80.7 81.2 63.2 75.8 66.1 84.2 105.4 69.9 75.9 79.3 81.0 83.0 1985 1986 1987 1988 1989 90.5 93.0 94.5 96.0 94.9 84.2 86.8 90.9 95.7 97.3 93.0 93.3 96.3 99.7 102.5 74.5 78.2 81.2 84.4 86.6 97.2 100.1 100.3 100.1 98.0 82.3 84.1 85.9 87.9 91.3 84.5 87.0 87.3 89.6 95.8 82.9 84.9 86.3 88.4 92.5 102.5 90.1 99.1 107.7 98.1 84.4 85.3 87.3 89.8 92.9 1990 95.9 98.5 102.7 91.2 97.9 95.1 99.0 96.2 93.9 96.0 1991 97.4 97.1 99.7 95.5 98.4 98.0 103.1 99.4 91.9 98.8 1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1993 101.3 103.6 102.2 102.2 99.2 100.9 99.9 100.6 114.8 101.7 1994 102.7 109.3 106.4 104.2 98.6 101.4 99.6 100.9 133.4 103.4 --------------------------------------------------------------------------------------------------See footnotes following table 6, above. February 8, 1996 Source: Bureau of Labor Statistics
@FedFRASER