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Internet address: Historical, technical information: Current data: Media contact: http://stats.bls.gov/lprhome.htm (202) 606-5606 (202) 606-7828 (202) 606-5902 USDL 99-320 TRANSMISSION OF THIS MATERIAL IS EMBARGOED UNTIL 8:30 A.M. EST, FRIDAY, NOVEMBER 12, 1999. PRODUCTIVITY AND COSTS Third Quarter 1999 The Bureau of Labor Statistics of the U.S. Department of Labor today reported preliminary productivity data--as measured by output per hour of all persons--for the third quarter of 1999. The preliminary seasonally-adjusted annual rates of productivity growth in the third quarter were: 4.0 percent in the business sector, and 4.2 percent in the nonfarm business sector. In both the business and the nonfarm business sectors, productivity increases in the third quarter were larger than those recorded in the second quarter of 1999 (as revised). In manufacturing, productivity increases in the third quarter were: 3.4 percent in manufacturing, 3.6 percent in durable goods manufacturing, and 4.1 percent in nondurable goods manufacturing. The 3.4 percent rise in manufacturing productivity matches the increase in output; hours of all persons working in the sector were unchanged. 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. Third-quarter measures are summarized in table A and appear in detail in tables 1 through 5. ----------------------------------------------------------------------------NOTE: This release of Productivity and Costs incorporates the comprehensive, historical revision of the national income and product accounts for 1959 through second-quarter 1999, produced by the Bureau of Economic Analysis, U.S. Department of Commerce. The BLS also has incorporated the Consumer Price Index research series using current methods (CPI-U-RS) into its measure of real hourly compensation. ----------------------------------------------------------------------------- -----------------------------------------------------------------------Table A. Productivity and costs: Preliminary third-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 4.0 5.4 1.4 4.7 2.0 0.7 Nonfarm business 4.2 5.7 1.5 4.8 2.2 0.6 Manufacturing 3.4 3.4 0.0 6.2 3.5 2.7 Durable 3.6 7.2 3.5 5.7 3.0 2.1 Nondurable 4.1 -1.2 -5.1 6.3 3.6 2.1 -----------------------------------------------------------------------Percent change from same quarter a year ago Business 3.0 4.6 1.6 4.9 2.6 1.9 Nonfarm business 2.9 4.7 1.8 4.6 2.3 1.7 Manufacturing 4.9 3.4 -1.4 4.8 2.5 -0.1 Durable 7.3 6.2 -1.0 4.7 2.4 -2.4 Nondurable 2.0 -0.1 -2.1 4.9 2.6 2.8 ------------------------------------------------------------------------ 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 second quarter to the third quarter of 1999, business sector productivity increased at a 4.0 percent annual rate. Output rose 5.4 percent, while hours of all persons engaged in the sector went up 1.4 percent (seasonally adjusted annual rates). After revisions, second-quarter productivity in the business sector rose 0.8 percent, as output increased 1.9 percent and hours rose 1.0 percent (tables B and 1). Hourly compensation increased at an annual rate of 4.7 percent during the third quarter of 1999, increasing at this rate or greater for nine consecutive quarters. This measure includes wages and salaries, supplements, employer contributions to employee benefit plans, and taxes. Real hourly compensation, which takes into account changes in consumer prices, increased 2.0 percent in the third quarter, after rising 1.5 percent in the second quarter of 1999. Unit labor costs, which reflect changes in both hourly compensation and productivity, increased at a 0.7 percent annual rate during the third quarter. During the previous quarter, these costs had risen 4.2 percent. The implicit price deflator for the business sector increased at a 0.5 percent annual rate in the third quarter and at a 1.1 percent rate in the second quarter of 1999. Nonfarm business Productivity rose 4.2 percent in the nonfarm business sector during the third quarter of 1999. The increase in labor productivity in the third quarter occurred as output rose 5.7 percent and hours of all persons grew by 1.5 percent. In the previous quarter, productivity had risen 0.6 percent, as output grew 1.8 percent and hours increased 1.3 percent (table 2). Hourly compensation increased at a 4.8 percent annual rate in both the second and third quarters of 1999. When the rise in consumer prices is taken into account, real hourly compensation rose at a 2.2 percent annual rate during the July-September period. During the second quarter of 1999, real hourly compensation had risen 1.2 percent. Unit labor costs increased 0.6 percent during the third quarter of 1999. In the second quarter, unit labor costs in the nonfarm business sector rose 4.2 percent. The implicit price deflator for nonfarm business output rose 0.7 percent in the third quarter. Manufacturing Productivity increased 3.4 percent in manufacturing in the third quarter of 1999, as output also rose 3.4 percent and hours of all persons were unchanged (seasonally adjusted annual rates). This marked the first time that hours in manufacturing did not decline since the first quarter of 1998. In the durable goods sector, third-quarter productivity rose by 3.6 percent, as output increased 7.2 percent and hours of all persons rose 3.5 percent. In the nondurable goods sector, labor productivity rose by 4.1 percent, as hours fell faster than output. Output dropped 1.2 percent, and hours of all persons decreased 5.1 percent (tables 3, 4, and 5). Hourly compensation of manufacturing workers increased an average of 6.2 percent during the third quarter, after rising 5.8 percent in the previous quarter (seasonally adjusted annual rates). In the third quarter, hourly compensation grew 5.7 percent in durable goods and 6.3 percent in nondurable goods. When the increase in consumer prices is taken into account, real hourly compensation in total manufacturing rose 3.5 percent in the third quarter. Unit labor costs increased 2.7 percent in the third quarter of 1999. rise in unit labor costs in the second quarter was 1.2 percent. The Revised Measures Current and previous measures for the second quarter of 1999 for the business, nonfarm business, and manufacturing sectors are compared in table B. In the business and nonfarm business sectors, the quarterly movements in output per hour and output are unchanged. Hourly compensation and unit labor costs are slightly lower than reported on Sept. 2, based on information then available. Productivity and output movements in the manufacturing sector were revised slightly downward based on newer information from the Federal Reserve Board's Indexes of Industrial Production. Hourly compensation and unit labor costs in manufacturing also were revised downward based on the most recent information available. -----------------------------------------------------------------------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 -----------------------------------------------------------------------Second quarter 1999 Business: Previous 0.8 1.9 1.0 5.4 1.8 4.5 Current 0.8 1.9 1.0 5.1 1.5 4.2 Nonfarm business: Previous 0.6 1.8 1.2 5.1 1.5 4.5 Current 0.6 1.8 1.3 4.8 1.2 4.2 Manufacturing: Previous 4.8 4.2 -0.6 6.1 2.5 1.3 Current 4.5 4.0 -0.5 5.8 2.2 1.2 ------------------------------------------------------------------------ Revised measures: Nonfinancial Corporations Second-quarter 1999 productivity and cost measures for nonfinancial corporations also were revised to incorporate more recent information than was available on Sept. 2. Productivity and output were revised up, unit labor costs were revised down, and hours growth was unchanged. Productivity grew at an annual rate of 3.2 percent, compared with the previously published growth of 2.7 percent. Unit profits showed less of a decline than originally reported (tables C and 6). ----------------------------------------------------------------------------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 ----------------------------------------------------------------------------Second quarter 1999 Previous 2.7 3.7 1.0 5.1 1.5 2.3 -5.9 1.0 Current 3.2 4.2 1.0 4.8 1.3 1.6 -2.6 1.1 ----------------------------------------------------------------------------- Historical revisions The comprehensive revisions made to the National Income and Product Accounts (NIPAs) for 1959 through second-quarter 1999 by the Bureau of Economic Analysis, U.S. Department of Commerce on Oct. 28 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, prices, 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 1947-58 period. Appendix tables 3-5 show annual indexes for productivity and related measures for the manufacturing sectors. The annual productivity measures for manufacturing are unaffected by the BEA revisions; appendix tables 3-5 reflect historical revisions in hourly compensation measures and unit labor costs. The long-term rates of productivity change for business, nonfarm business, and nonfinancial corporations have been affected by the above revisions. The compound annual rate of growth of business output per hour for 1979-98 is 1.7 percent (compared with 1.3 percent prior to the revision). For the same period, output per hour grew at a 1.6 percent rate for nonfarm business (up from 1.1 percent) and at a 2.3 percent rate for nonfinancial corporations (up from 1.9 percent). This release also incorporates 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. As a result of this change and the historical revisions to the compensation data, growth trends in real hourly compensation in all sectors have increased. The compound annual rate of growth in real hourly compensation for the business and nonfarm business sectors for 1979-98 is 0.8 percent (compared with a rise of 0.4 percent in both sectors prior to the revisions). In nonfinancial corporations, real hourly compensation grew 0.5 percent for the 1979-98 period (up from 0.1 percent). The trend for manufacturing for the 1979-98 period is 0.7 percent (up from 0.4 percent); durable goods manufacturing grew 0.6 percent (up from 0.2 percent), and nondurable goods manufacturing grew 0.9 percent (up from 0.7 percent). Next release date The next release of Productivity and Costs is scheduled for 8:30 AM EST, Tuesday, Dec. 7, 1999. Third-quarter measures for nonfinancial corporations and revised third-quarter measures for business, nonfarm business, and manufacturing will be released at that time. 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 selfemployed, 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 77 percent of the value of GDP in 1996. Nonfarm business, which also excludes farming, accounted for about 76 percent of GDP in 1996. Annual indexes for manufacturing and its durable and nondurable goods components 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 54 percent of the value of GDP in 1996. 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 sensoryimpaired 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 r106.3 r107.1 r108.1 r108.4 r120.0 r121.8 r123.2 r124.4 112.9 113.7 114.0 114.7 r112.5 r113.2 r114.6 r116.4 r100.1 r100.4 r101.2 r102.4 r105.9 r105.7 r106.0 r107.4 r114.5 r115.9 r116.0 r114.1 r109.1 r109.5 r109.7 r109.9 ANNUAL r107.5 r122.3 113.8 r114.2 r101.1 r106.2 r115.1 r109.5 I II III IV r109.7 r109.8 r110.7 r111.9 r126.9 r127.5 r128.9 r131.2 115.7 116.1 116.4 117.2 r117.8 r119.4 r121.2 r122.7 r103.4 r104.4 r105.6 r106.5 r107.5 r108.8 r109.5 r109.6 r114.2 r112.6 r112.1 r112.1 r110.0 r110.2 r110.4 r110.5 ANNUAL r110.5 r128.6 r116.4 r120.3 r105.1 r108.8 r112.7 r110.3 1999 I r112.7 r132.5 117.5 r124.2 r107.4 r110.2 r112.1 r110.9 II r113.0 r133.1 117.8 r125.7 r107.8 r111.3 r110.9 r111.2 III 114.1 134.9 118.2 127.2 108.4 111.5 111.0 111.3 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV r1.3 r3.4 r3.6 r1.2 r5.8 r6.2 r4.8 r3.9 4.4 2.7 1.1 r2.7 r3.4 r2.6 r4.8 r6.7 1.0 r1.5 r3.0 r4.8 r2.1 r-0.7 r1.1 r5.4 r2.4 r4.9 r0.2 r-6.2 r2.2 1.4 r0.8 r0.7 ANNUAL r2.2 r5.4 3.1 r3.7 r1.5 r1.5 r1.4 r1.5 I II III IV r4.6 r0.6 r3.4 4.3 r8.1 r2.2 r4.4 r7.2 r3.4 1.6 0.9 r2.8 r4.9 r5.5 r6.1 r4.9 r4.2 r3.9 r4.7 r3.3 r0.3 r4.9 r2.6 r0.6 r0.4 r-5.6 r-1.9 r-0.1 r0.4 r0.8 r0.9 r0.4 ANNUAL r2.8 r5.1 2.2 r5.3 r3.9 r2.4 r-2.1 r0.7 1999 I r3.0 r3.9 0.9 r4.9 3.6 r1.9 r0.2 r1.3 II 0.8 1.9 1.0 r5.1 r1.5 r4.2 r-4.1 r1.1 III 4.0 5.4 1.4 4.7 2.0 0.7 0.3 0.5 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV r2.1 r1.7 r2.6 r2.4 r5.5 r5.1 r5.7 r5.2 3.4 3.3 3.0 2.7 r3.6 3.2 r3.5 r4.4 r0.8 r1.0 r1.4 r2.6 r1.5 r1.4 r0.9 r1.9 r1.7 r1.7 2.1 r0.2 r1.6 r1.5 r1.4 r1.3 ANNUAL r2.2 r5.4 3.1 r3.7 r1.5 r1.5 r1.4 r1.5 I II III IV r3.2 r2.5 r2.4 r3.2 r5.8 r4.7 r4.6 r5.5 r2.5 r2.2 2.1 2.2 r4.7 r5.5 r5.8 r5.4 r3.4 r4.0 r4.4 r4.0 1.5 r2.9 r3.3 r2.1 r-0.3 r-2.8 r-3.4 r-1.8 r0.8 r0.7 r0.7 r0.6 ANNUAL r2.8 r5.1 2.2 r5.3 r3.9 r2.4 r-2.1 r0.7 I r2.8 r4.4 1.6 r5.4 r3.8 r2.5 r-1.9 r0.8 II r2.9 r4.3 1.4 r5.3 r3.2 r2.3 r-1.5 r0.9 III 3.0 4.6 1.6 4.9 2.6 1.9 -0.9 0.8 --------------------------------------------------------------------------------------------------------See footnotes following Table 6. November 12, 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 r106.1 r106.9 r107.8 r108.1 r120.2 r122.0 r123.4 r124.6 113.3 114.1 r114.5 115.3 r112.2 r112.9 r114.1 r115.9 r99.8 r100.1 r100.8 r101.9 r105.7 r105.6 r105.8 r107.2 r115.0 r116.6 r117.0 r115.3 r109.1 r109.6 r109.9 r110.1 ANNUAL r107.2 r122.5 114.3 r113.8 r100.7 r106.1 r115.9 r109.7 I II III IV r109.3 r109.5 r110.4 r111.5 r127.1 r127.9 r129.3 r131.6 116.3 r116.8 117.1 118.0 r117.2 r118.8 r120.6 r122.0 r102.9 r103.9 r105.1 r105.9 r107.3 r108.5 r109.3 r109.4 r115.8 r114.1 r113.1 r112.7 r110.4 r110.5 r110.7 r110.6 ANNUAL r110.2 r129.0 r117.1 r119.7 r104.5 r108.6 r113.9 r110.5 1999 I r112.2 r132.9 r118.4 r123.3 r106.6 r109.8 r113.1 r111.0 II r112.4 r133.5 118.7 r124.7 r106.9 r111.0 r112.2 r111.4 III 113.6 135.3 119.2 126.2 107.5 111.1 112.4 111.6 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV r0.9 r3.3 r3.3 r1.2 r5.5 r6.2 r4.6 r4.1 4.5 2.8 r1.3 2.9 r3.6 r2.6 r4.4 r6.4 1.2 r1.5 r2.6 r4.5 r2.7 r-0.6 r1.0 r5.1 r2.2 r5.7 r1.3 r-5.7 r2.5 r1.7 r1.1 r0.8 ANNUAL r2.0 r5.3 r3.3 r3.6 r1.4 r1.6 r1.9 r1.7 I II III IV r4.4 r0.9 r3.1 4.1 r8.3 r2.4 r4.4 r7.3 3.7 1.4 1.2 3.1 r4.8 r5.6 r6.2 r4.6 r4.1 r3.9 r4.7 r2.9 r0.4 r4.6 r3.0 r0.5 r1.8 r-5.8 r-3.2 r-1.6 r0.9 r0.5 r0.6 r-0.3 ANNUAL r2.8 r5.2 2.4 r5.2 r3.8 r2.4 r-1.8 r0.8 1999 I r2.7 r4.0 1.3 r4.2 r2.8 r1.4 r1.5 r1.5 II 0.6 1.8 r1.3 r4.8 r1.2 r4.2 r-3.1 r1.4 III 4.2 5.7 1.5 4.8 2.2 0.6 0.9 0.7 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV r1.8 r1.5 r2.3 r2.2 r5.4 r5.1 r5.5 r5.1 3.6 r3.5 3.1 r2.9 r3.5 r3.1 r3.5 r4.2 r0.7 r1.0 r1.4 r2.4 r1.7 r1.6 r1.1 r2.0 r1.8 r2.2 r2.9 r0.8 r1.7 r1.8 r1.8 r1.5 ANNUAL r2.0 r5.3 r3.3 r3.6 r1.4 r1.6 r1.9 r1.7 I II III IV r3.0 r2.4 r2.4 r3.1 r5.8 r4.8 r4.8 r5.6 r2.7 2.3 2.3 r2.4 r4.5 r5.3 r5.7 r5.3 r3.2 r3.8 r4.3 r3.9 1.5 r2.8 r3.3 r2.1 r0.7 r-2.2 r-3.3 r-2.3 r1.2 r0.9 r0.7 r0.5 ANNUAL r2.8 r5.2 2.4 r5.2 r3.8 r2.4 r-1.8 r0.8 I 2.7 4.5 1.7 r5.1 r3.6 r2.4 r-2.3 0.6 II r2.6 r4.4 1.7 r4.9 r2.9 r2.3 r-1.6 r0.8 III 2.9 4.7 1.8 4.6 2.3 1.7 -0.6 0.8 --------------------------------------------------------------------------------------------------------See footnotes following Table 6. November 12, 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 116.7 118.0 120.4 121.6 122.5 124.5 126.8 129.1 105.0 105.5 105.3 106.2 r111.8 r112.6 r113.6 r115.5 r99.5 99.9 r100.3 r101.5 r95.8 r95.4 r94.4 r95.0 ANNUAL 119.2 125.7 105.5 r113.4 r100.4 r95.1 I II III IV 122.1 123.2 124.6 126.2 129.9 130.7 130.8 132.4 106.4 106.1 105.0 104.9 r117.0 r118.6 r120.6 121.4 r102.7 r103.7 r105.1 r105.4 r95.9 r96.3 r96.8 96.2 ANNUAL 124.0 130.9 105.6 r119.4 r104.3 r96.3 1999 I 128.2 132.9 103.7 r122.8 r106.2 r95.8 II r129.6 134.2 103.5 r124.5 r106.8 r96.1 III 130.7 135.3 103.5 126.4 107.7 96.7 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 I II III IV 4.1 4.7 8.4 4.1 7.2 6.6 7.7 7.5 3.0 1.8 -0.6 3.3 r5.5 r2.9 r3.6 r6.8 r3.0 r1.8 r1.8 r4.9 r1.3 r-1.7 r-4.4 r2.6 1998 I II III IV 1.5 3.7 4.8 5.3 2.4 2.5 0.4 4.8 0.9 -1.2 -4.1 -0.5 r5.4 r5.4 r6.9 r2.9 r4.7 r3.8 r5.4 r1.2 r3.9 r1.7 r2.0 r-2.3 ANNUAL 4.0 4.2 0.1 r5.3 r3.9 r1.2 1999 I 6.3 1.6 -4.5 r4.5 r3.1 r-1.8 II r4.5 r4.0 r-0.5 r5.8 r2.2 r1.2 III 3.4 3.4 0.0 6.2 3.5 2.7 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV 4.2 4.2 5.0 5.3 6.7 5.9 6.3 7.3 2.4 1.6 1.2 1.9 r3.1 r3.3 r3.7 r4.7 r0.3 r1.2 1.6 r2.9 r-1.1 r-0.9 r-1.3 r-0.6 ANNUAL 4.7 6.5 1.8 r3.7 r1.5 r-0.9 I II III IV 4.6 4.4 3.5 3.8 6.0 5.0 3.2 2.5 1.4 0.6 -0.3 -1.2 r4.7 r5.3 r6.1 r5.1 r3.3 r3.8 r4.7 r3.8 r0.0 r0.9 r2.5 r1.3 ANNUAL 4.0 4.2 0.1 r5.3 r3.9 r1.2 I 5.0 2.3 -2.6 r4.9 r3.4 r-0.1 II r5.2 2.7 -2.4 r5.0 r3.0 r-0.2 III 4.9 3.4 -1.4 4.8 2.5 -0.1 -------------------------------------------------------------------------------------------------See footnotes following Table 6. November 12, 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 125.0 127.3 131.0 133.4 136.9 140.3 144.6 148.3 109.5 110.2 110.4 111.2 r109.4 r110.2 r110.9 r113.2 r97.3 97.7 r98.0 r99.5 r87.5 r86.5 r84.7 r84.8 ANNUAL 129.2 142.5 110.3 r110.9 r98.2 r85.8 I II III IV 133.8 135.8 138.7 141.6 149.6 151.3 153.1 156.3 111.8 111.4 110.4 110.4 r114.7 r116.2 r118.3 r118.9 r100.7 r101.6 r103.0 r103.2 r85.7 85.6 r85.3 r84.0 ANNUAL 137.5 152.6 111.0 r117.0 r102.2 r85.1 1999 I 144.6 157.1 108.7 r120.3 r104.0 r83.2 II r147.5 159.8 r108.4 r122.1 r104.7 r82.8 III 148.8 162.6 109.3 123.9 105.5 83.2 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV 4.4 7.6 12.1 7.4 10.4 10.4 12.8 10.7 5.8 2.6 0.6 3.0 r5.6 r2.8 r2.8 r8.3 r3.1 r1.6 r1.1 r6.3 r1.1 r-4.5 r-8.3 r0.8 ANNUAL 6.3 9.4 2.9 r3.3 r1.1 r-2.8 I II III IV 1.3 6.1 8.8 8.6 3.5 4.6 4.8 8.6 2.2 -1.4 -3.7 0.0 r5.5 r5.5 r7.2 r2.2 r4.8 r3.8 r5.7 r0.6 r4.2 r-0.6 r-1.4 r-5.9 ANNUAL 6.4 7.0 0.6 r5.5 r4.1 r-0.8 1999 I 8.6 2.1 -6.0 r4.6 r3.2 r-3.7 II r8.4 r7.2 -1.1 r6.5 r2.8 r-1.8 III 3.6 7.2 3.5 5.7 3.0 2.1 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV 5.3 5.3 6.8 7.8 9.3 8.1 9.3 11.1 3.8 2.6 2.3 3.0 r2.3 r2.9 r3.2 r4.8 r-0.4 r0.7 r1.1 r3.0 r-2.8 r-2.3 r-3.4 r-2.8 ANNUAL 6.3 9.4 2.9 r3.3 r1.1 r-2.8 I II III IV 7.0 6.6 5.9 6.1 9.3 7.8 5.9 5.4 2.1 1.1 0.0 -0.7 4.8 r5.5 r6.6 r5.1 r3.4 r4.0 r5.2 r3.7 r-2.1 r-1.1 r0.7 r-1.0 ANNUAL 6.4 7.0 0.6 r5.5 r4.1 r-0.8 I 8.0 5.0 -2.8 r4.8 r3.3 r-2.9 II 8.6 5.6 -2.7 r5.1 r3.1 r-3.2 III 7.3 6.2 -1.0 4.7 2.4 -2.4 -------------------------------------------------------------------------------------------------See footnotes following Table 6. November 12, 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 109.8 110.2 111.3 111.3 108.8 109.3 109.7 110.7 99.0 99.2 98.6 99.5 r114.8 r115.7 r117.0 r118.2 102.1 r102.6 r103.3 r104.0 r104.5 r105.0 r105.1 r106.2 ANNUAL 110.7 109.6 99.1 r116.4 r103.0 r105.2 I II III IV 111.8 112.0 112.0 112.5 111.0 111.0 109.6 109.7 99.3 99.1 97.9 97.5 r119.7 r121.3 r123.1 r124.3 r105.1 r106.1 r107.3 r107.9 r107.0 r108.3 r109.9 r110.5 ANNUAL 112.1 110.3 98.4 r122.1 r106.6 r108.9 1999 I 113.3 109.9 97.0 r125.7 r108.7 r111.0 II r113.2 r109.9 97.1 r127.2 r109.1 r112.4 III 114.3 109.6 95.8 129.2 110.1 113.0 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV 4.3 1.3 4.2 -0.1 3.4 1.9 1.7 3.6 -0.9 0.7 -2.4 3.7 r4.8 r3.1 r4.6 r4.4 r2.3 r1.9 r2.9 r2.5 r0.5 r1.8 r0.4 r4.5 ANNUAL 3.0 3.1 0.1 r4.1 r1.9 r1.1 I II III IV 2.0 0.7 0.1 1.5 1.1 -0.2 -4.7 0.2 -0.9 -0.9 -4.7 -1.3 r5.0 r5.4 r6.2 r3.9 r4.3 r3.8 r4.8 r2.2 r3.0 r4.8 r6.2 r2.3 ANNUAL 1.3 0.6 -0.6 r4.9 r3.5 r3.6 1999 I 3.0 0.8 -2.1 r4.6 r3.2 r1.5 II r-0.4 r-0.1 r0.3 r4.9 r1.3 5.3 III 4.1 -1.2 -5.1 6.3 3.6 2.1 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 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 -0.5 0.2 r4.0 r3.9 r4.2 r4.2 r1.2 r1.7 r2.1 r2.4 r0.7 r0.7 r1.1 r1.8 ANNUAL 3.0 3.1 0.1 r4.1 r1.9 r1.1 I II III IV 1.8 1.7 0.6 1.1 2.1 1.5 -0.1 -0.9 0.2 -0.1 -0.7 -2.0 r4.3 r4.9 r5.3 5.1 r2.9 r3.4 r3.9 r3.8 r2.4 r3.2 r4.6 4.0 ANNUAL 1.3 0.6 -0.6 r4.9 r3.5 r3.6 I 1.3 -1.0 -2.3 r5.0 r3.5 r3.7 II r1.0 r-1.0 -2.0 r4.9 2.9 3.8 III 2.0 -0.1 -2.1 4.9 2.6 2.8 -------------------------------------------------------------------------------------------------See footnotes following Table 6. November 12, 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 r110.1 r110.7 r112.4 r113.2 r125.5 r127.5 r130.2 r132.3 r114.0 r115.1 r115.8 116.9 r111.2 r112.0 r113.3 115.1 r98.9 r99.3 r100.0 r101.2 r101.0 r101.1 r100.7 r101.6 r99.8 r99.9 r99.2 r98.6 r100.7 r100.8 r100.3 r100.8 r155.6 r156.2 r161.1 r155.3 r105.3 r105.4 r105.4 r105.3 ANNUAL r111.7 r128.9 115.4 r113.0 r100.0 r101.1 r99.4 r100.6 r157.1 r105.3 I II III IV r114.2 r115.3 r117.0 r117.9 r134.6 r136.3 r138.7 r140.6 117.8 118.1 118.6 119.3 r116.4 r118.0 r119.8 r121.3 r102.2 r103.2 r104.4 r105.3 r101.9 r102.3 r102.4 r102.9 r98.0 r98.2 r98.0 r99.2 r100.8 r101.2 r101.2 r101.8 r153.7 r150.1 r152.6 r145.3 r105.2 r105.2 r105.5 r105.5 ANNUAL r116.2 r137.5 118.4 r119.0 r103.9 r102.4 r98.4 r101.3 r150.4 r105.3 1999 I r119.1 r142.6 119.7 r122.7 r106.1 r103.0 r98.4 r101.7 r149.5 r105.7 II r120.0 r144.1 120.0 r124.2 r106.5 r103.4 r98.8 102.1 r148.5 r106.0 ---------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV r1.8 r2.3 r6.3 r2.8 r6.1 r6.4 r8.9 r6.4 4.3 4.0 2.5 3.5 r3.6 r2.7 r4.7 r6.5 r1.2 r1.5 r2.9 r4.6 r1.8 r0.3 r-1.5 r3.6 r-0.3 r0.5 r-2.6 r-2.5 r1.2 r0.4 -1.8 r1.9 r4.6 r1.6 r13.0 r-13.6 1.6 r0.5 r-0.1 r-0.2 ANNUAL r3.0 r6.6 r3.5 r3.6 r1.4 r0.6 r-0.7 r0.2 r3.7 0.6 I II III IV r3.7 r3.9 r5.9 r3.2 r7.1 r5.1 r7.5 r5.6 r3.3 r1.2 1.5 2.3 r4.8 r5.7 r6.3 r4.9 r4.1 r4.1 r4.8 r3.3 r1.1 r1.7 r0.4 r1.7 r-2.6 r0.9 r-0.7 r4.9 r0.0 r1.5 r0.1 r2.6 r-4.1 r-9.1 r6.8 r-17.8 r-0.5 r0.2 r0.9 r-0.1 ANNUAL r4.0 r6.7 2.6 r5.3 r3.9 r1.3 -1.0 0.6 r-4.3 r0.0 1999 I r4.1 r5.7 1.6 r4.7 r3.3 r0.6 r-3.4 r-0.5 r12.0 r0.8 II r3.2 r4.2 1.0 r4.8 r1.3 r1.6 r1.8 r1.6 r-2.6 r1.1 ---------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV r2.6 r2.5 r3.6 r3.3 r6.2 r6.2 r7.2 r7.0 3.5 r3.5 3.5 3.6 r3.5 3.1 r3.5 r4.3 r0.7 r0.9 r1.4 r2.5 r0.8 r0.6 r-0.1 r1.0 r-0.6 r-0.2 r-0.6 r-1.2 r0.4 r0.4 r-0.3 r0.4 r4.0 r3.4 r6.4 r0.9 0.8 0.7 r0.6 r0.5 ANNUAL r3.0 r6.6 r3.5 r3.6 r1.4 r0.6 r-0.7 r0.2 r3.7 0.6 I II III IV r3.8 r4.1 r4.0 r4.1 r7.2 r6.9 r6.5 r6.3 3.3 2.6 r2.4 r2.1 r4.6 r5.4 r5.8 r5.4 r3.3 r3.9 r4.4 r4.1 r0.8 1.2 r1.7 r1.2 r-1.8 -1.7 r-1.2 r0.6 r0.1 r0.4 r0.9 r1.1 r-1.2 r-3.9 r-5.3 r-6.5 -0.1 -0.1 r0.1 r0.1 ANNUAL r4.0 r6.7 2.6 r5.3 r3.9 r1.3 -1.0 0.6 r-4.3 r0.0 I r4.3 r6.0 r1.7 r5.4 r3.9 r1.1 r0.4 r0.9 r-2.8 r0.5 II r4.1 r5.7 1.6 r5.2 r3.2 r1.1 r0.6 r0.9 r-1.1 r0.7 ---------------------------------------------------------------------------------------------------------See footnotes following Table 6. November 12, 1999 r=revised Source: Bureau of Labor Statistics 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 47.2 31.5 66.7 13.1 58.5 27.7 25.8 27.0 1960 1961 1962 1963 1964 48.0 49.8 52.1 54.1 56.6 32.1 32.7 34.8 36.4 38.7 66.7 65.7 66.8 67.2 68.3 13.6 14.2 14.8 15.4 16.1 59.9 61.7 63.9 65.3 67.8 28.4 28.5 28.4 28.4 28.5 25.5 25.9 26.7 27.3 27.8 27.3 27.5 27.8 28.0 28.3 1965 1966 1967 1968 1969 58.6 61.0 62.3 64.5 64.8 41.4 44.2 45.0 47.3 48.8 70.6 72.5 72.3 73.4 75.2 16.8 17.9 18.9 20.4 21.9 69.3 71.8 73.7 76.5 77.6 28.6 29.3 30.3 31.7 33.7 29.0 29.7 30.2 31.0 31.3 28.7 29.4 30.3 31.4 32.8 1970 1971 1972 1973 1974 66.2 68.8 71.0 73.1 72.2 48.8 50.5 53.8 57.5 56.8 73.7 73.4 75.8 78.5 78.6 23.5 25.0 26.6 28.9 31.7 79.0 80.5 82.9 84.7 83.7 35.6 36.4 37.5 39.5 43.8 32.0 34.9 36.4 38.4 40.6 34.3 35.8 37.1 39.1 42.6 1975 1976 1977 1978 1979 74.8 77.2 78.4 79.5 79.7 56.3 59.9 63.2 67.2 69.7 75.2 77.6 80.6 84.6 87.4 34.9 38.0 41.0 44.7 49.0 84.5 87.0 88.1 89.7 90.0 46.7 49.2 52.3 56.2 61.5 46.7 49.4 52.5 55.7 59.0 46.7 49.3 52.4 56.0 60.6 1980 1981 1982 1983 1984 79.8 81.4 81.2 84.0 86.4 69.1 71.0 69.1 72.6 79.0 86.7 87.3 85.1 86.5 91.5 54.3 59.5 63.9 66.6 69.5 89.7 89.8 91.1 91.2 91.5 68.1 73.1 78.8 79.3 80.5 62.1 69.8 70.8 77.1 81.1 65.9 71.9 75.8 78.5 80.7 1985 1986 1987 1988 1989 88.1 90.7 91.3 92.4 93.3 82.4 85.4 88.6 92.4 95.6 93.5 94.2 97.0 100.0 102.5 72.9 76.7 79.7 83.4 85.7 92.8 95.9 96.3 97.3 95.8 82.8 84.6 87.3 90.3 91.9 82.9 83.4 84.1 86.2 92.5 82.8 84.1 86.1 88.8 92.1 1990 1991 1992 1993 1994 94.5 95.9 100.0 100.1 101.4 97.0 96.1 100.0 102.7 107.7 102.6 100.3 100.0 102.6 106.2 90.6 94.9 100.0 102.4 104.5 96.4 97.4 100.0 99.9 99.7 95.9 99.0 100.0 102.3 103.0 94.6 97.4 100.0 102.9 106.9 95.4 98.4 100.0 102.5 104.4 1995 102.2 111.1 108.8 106.7 99.1 104.4 109.8 106.4 1996 105.2 116.1 110.4 110.1 99.6 104.7 113.5 107.9 1997 107.5 122.3 113.8 114.2 101.1 106.2 115.1 109.5 1998 110.5 128.6 116.4 120.3 105.1 108.8 112.7 110.3 ------------------------------------------------------------------------------------------------------See footnotes following Table 6. November 12, 1999 Source: Bureau of Labor Statistics Appendix table 2. Nonfarm business sector: Indexes 1992=100 Productivity, hourly compensation, unit labor costs, and prices 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 50.5 31.2 61.8 13.7 61.1 27.0 25.5 26.5 1960 1961 1962 1963 1964 51.2 52.8 55.2 57.2 59.6 31.7 32.4 34.6 36.2 38.6 62.0 61.3 62.6 63.3 64.8 14.3 14.7 15.4 15.9 16.6 62.8 64.3 66.2 67.6 69.9 27.9 27.9 27.8 27.8 27.9 24.9 25.4 26.3 26.9 27.6 26.8 27.0 27.3 27.5 27.8 1965 1966 1967 1968 1969 61.4 63.6 64.6 66.9 67.1 41.3 44.3 45.1 47.5 48.9 67.3 69.7 69.7 70.9 73.0 17.2 18.2 19.2 20.7 22.2 71.0 73.0 75.0 77.6 78.6 28.0 28.6 29.7 31.0 33.0 28.6 29.3 29.8 30.8 30.9 28.2 28.9 29.8 30.9 32.3 1970 1971 1972 1973 1974 68.0 70.7 73.0 75.2 74.3 48.9 50.6 54.0 57.8 57.2 71.8 71.6 74.0 76.9 77.0 23.7 25.3 26.9 29.1 31.9 79.7 81.3 83.8 85.3 84.4 34.9 35.7 36.8 38.7 43.0 31.7 34.5 35.5 36.0 38.6 33.7 35.3 36.4 37.7 41.4 1975 1976 1977 1978 1979 76.4 78.9 80.0 81.3 81.3 56.3 60.1 63.4 67.6 70.0 73.7 76.1 79.2 83.2 86.2 35.2 38.2 41.3 45.0 49.3 85.2 87.5 88.8 90.5 90.6 46.0 48.4 51.6 55.4 60.7 45.1 48.3 51.5 54.2 57.2 45.7 48.4 51.6 55.0 59.4 1980 1981 1982 1983 1984 81.3 82.4 82.0 85.6 87.4 69.5 71.0 68.9 73.2 79.3 85.5 86.1 83.9 85.5 90.7 54.7 60.0 64.4 67.2 70.0 90.3 90.6 91.8 91.9 92.1 67.2 72.8 78.5 78.5 80.1 61.1 68.3 69.9 76.9 80.0 65.0 71.1 75.4 77.9 80.1 1985 1986 1987 1988 1989 88.6 91.3 91.7 92.9 93.5 82.3 85.5 88.7 92.8 95.8 93.0 93.7 96.7 99.8 102.4 73.3 77.1 80.0 83.6 85.8 93.2 96.3 96.6 97.4 95.8 82.7 84.4 87.2 89.9 91.7 82.3 83.1 83.7 85.9 91.9 82.6 83.9 85.9 88.5 91.8 1990 1991 1992 1993 1994 94.6 96.1 100.0 100.1 101.4 97.1 96.3 100.0 103.0 107.8 102.7 100.2 100.0 102.9 106.3 90.5 94.9 100.0 102.1 104.3 96.3 97.4 100.0 99.6 99.5 95.7 98.8 100.0 102.1 102.9 94.2 97.5 100.0 103.4 107.4 95.1 98.3 100.0 102.6 104.5 1995 102.4 111.5 108.9 106.5 98.9 104.0 110.8 106.5 1996 105.2 116.4 110.7 109.8 99.3 104.4 113.8 107.8 1997 107.2 122.5 114.3 113.8 100.7 106.1 115.9 109.7 1998 110.2 129.0 117.1 119.7 104.5 108.6 113.9 110.5 ------------------------------------------------------------------------------------------------------See footnotes following Table 6. November 12, 1999 Source: Bureau of Labor Statistics Appendix table 3. Manufacturing sector: Indexes 1992=100 Productivity, hourly compensation, and unit labor costs, Real Output per Hours CompensacompensaUnit hour of of all tion per tion per labor Year all persons Output persons hour (1) hour (2) costs ----------------------------------------------------------------------------------------------1959 41.2 38.1 92.5 14.3 63.8 34.6 1960 1961 1962 1963 1964 42.1 43.1 44.5 46.0 47.7 38.7 38.7 41.5 43.4 46.0 92.1 89.7 93.4 94.4 96.4 14.9 15.3 15.9 16.4 17.0 65.4 66.6 68.5 69.6 71.6 35.3 35.5 35.7 35.6 35.7 1965 1966 1967 1968 1969 48.8 49.3 51.1 52.9 53.8 49.8 53.6 55.2 57.9 59.6 102.0 108.6 108.0 109.6 110.9 17.4 18.2 19.2 20.7 22.2 72.0 73.2 74.9 77.3 78.7 35.7 36.9 37.6 39.1 41.2 1970 1971 1972 1973 1974 54.4 58.2 60.7 61.9 61.6 56.8 58.5 63.7 68.3 66.5 104.4 100.5 105.1 110.4 107.9 23.7 25.2 26.5 28.5 31.6 79.7 81.0 82.5 83.6 83.6 43.6 43.3 43.6 46.0 51.3 1975 1976 1977 1978 1979 64.7 67.4 70.1 70.7 70.2 62.9 68.6 74.3 78.2 79.1 97.2 101.9 106.1 110.6 112.7 35.5 38.4 41.8 45.2 49.6 85.8 88.0 89.8 90.8 91.1 54.8 57.1 59.7 63.9 70.7 1980 1981 1982 1983 1984 70.4 71.1 74.7 77.1 79.8 75.7 76.0 73.1 76.3 84.0 107.5 107.0 97.9 98.9 105.3 55.6 61.1 67.0 68.8 71.2 91.8 92.2 95.5 94.2 93.7 78.9 85.9 89.7 89.3 89.3 1985 1986 1987 1988 1989 82.8 86.5 88.8 90.5 90.7 86.6 89.1 92.1 96.5 97.1 104.6 103.0 103.8 106.6 107.1 75.1 78.5 80.7 84.0 86.6 95.5 98.1 97.5 97.9 96.8 90.7 90.7 90.9 92.8 95.5 1990 1991 1992 1993 1994 93.0 95.1 100.0 102.2 105.3 97.5 95.5 100.0 103.6 109.1 104.8 100.4 100.0 101.4 103.6 90.8 95.6 100.0 102.7 105.6 96.6 98.0 100.0 100.2 100.8 97.6 100.4 100.0 100.5 100.3 1995 109.4 113.8 104.0 107.9 100.2 98.6 1996 113.8 118.0 103.7 109.3 98.9 96.0 1997 119.2 125.7 105.5 113.4 100.4 95.1 1998 124.0 130.9 105.6 119.4 104.3 96.3 ----------------------------------------------------------------------------------------------See footnotes following Table 6. November 12, 1999 Source: Bureau of Labor Statistics Appendix table 4. Durable manufacturing sector: and unit labor costs, Indexes 1992=100 Productivity, hourly compensation, Real Output per Hours CompensacompensaUnit hour of of all tion per tion per labor Year all persons Output persons hour (1) hour (2) costs ----------------------------------------------------------------------------------------------1959 38.0 34.7 91.4 14.4 64.4 37.9 1960 1961 1962 1963 1964 38.4 39.0 40.9 42.7 44.2 35.1 34.2 37.9 40.3 42.9 91.3 87.8 92.7 94.3 97.0 15.0 15.4 16.0 16.5 17.1 65.9 67.1 69.1 70.1 72.0 39.0 39.5 39.2 38.6 38.8 1965 1966 1967 1968 1969 46.4 47.1 48.0 50.2 50.9 48.3 53.3 54.0 57.2 58.9 104.1 113.1 112.3 113.9 115.6 17.4 18.2 19.2 20.6 22.1 72.1 73.2 74.7 77.3 78.6 37.6 38.6 39.9 41.1 43.5 1970 1971 1972 1973 1974 50.6 54.9 57.6 59.9 58.2 53.9 55.5 61.6 69.1 66.0 106.5 101.1 107.0 115.2 113.3 23.8 25.4 26.6 28.6 31.6 79.7 81.6 83.0 83.8 83.5 47.0 46.2 46.3 47.6 54.3 1975 1976 1977 1978 1979 60.2 63.7 66.8 67.7 67.8 60.0 66.4 73.5 78.9 81.5 99.7 104.3 110.0 116.5 120.1 35.7 38.8 42.1 45.3 49.7 86.4 88.8 90.5 91.0 91.2 59.3 60.9 63.0 66.9 73.3 1980 1981 1982 1983 1984 67.8 68.5 71.4 75.3 79.7 76.7 76.9 71.8 76.2 87.8 113.1 112.3 100.6 101.2 110.2 55.9 61.5 67.5 69.1 71.0 92.4 93.0 96.3 94.6 93.5 82.4 89.8 94.7 91.7 89.2 1985 1986 1987 1988 1989 82.0 86.4 89.1 91.0 91.2 90.4 92.7 95.4 100.9 101.2 110.2 107.3 107.1 110.8 110.9 74.8 78.5 80.9 83.7 86.3 95.1 98.1 97.7 97.6 96.4 91.1 90.8 90.8 91.9 94.6 1990 1991 1992 1993 1994 93.0 94.3 100.0 104.2 109.3 99.8 95.5 100.0 105.7 114.4 107.3 101.3 100.0 101.5 104.7 90.3 95.3 100.0 102.9 105.6 96.1 97.7 100.0 100.3 100.8 97.1 101.0 100.0 98.8 96.7 1995 114.8 121.9 106.2 107.5 99.9 93.7 1996 121.5 130.2 107.2 107.4 97.1 88.3 1997 129.2 142.5 110.3 110.9 98.2 85.8 1998 137.5 152.6 111.0 117.0 102.2 85.1 ----------------------------------------------------------------------------------------------See footnotes following Table 6. November 12, 1999 Source: Bureau of Labor Statistics Appendix table 5. Nondurable manufacturing sector: and unit labor costs, Indexes 1992=100 Productivity, hourly compensation, Real Output per Hours CompensacompensaUnit hour of of all tion per tion per labor Year all persons Output persons hour (1) hour (2) costs ----------------------------------------------------------------------------------------------1959 46.0 43.2 93.9 14.1 63.2 30.7 1960 1961 1962 1963 1964 47.2 48.5 49.5 51.2 53.3 44.0 44.8 46.8 48.3 50.9 93.2 92.3 94.4 94.4 95.5 14.7 15.2 15.7 16.2 16.9 64.8 66.3 67.8 69.0 71.0 31.2 31.4 31.7 31.7 31.7 1965 1966 1967 1968 1969 53.3 53.7 56.6 58.1 59.6 52.8 55.2 57.8 60.3 62.3 99.1 102.7 102.3 103.8 104.6 17.3 18.0 19.1 20.5 22.0 71.4 72.5 74.4 76.7 78.1 32.4 33.6 33.7 35.3 36.9 1970 1971 1972 1973 1974 61.2 64.1 67.1 67.5 69.3 62.1 64.0 68.8 70.2 69.9 101.5 99.8 102.5 104.0 100.9 23.6 24.9 26.1 28.1 31.3 79.2 79.9 81.2 82.5 82.8 38.5 38.8 38.8 41.6 45.2 1975 1976 1977 1978 1979 72.0 73.8 76.5 77.4 76.4 67.6 72.8 77.2 79.4 78.5 93.9 98.7 100.9 102.6 102.8 34.9 37.7 40.9 44.4 48.7 84.4 86.2 87.9 89.2 89.4 48.4 51.1 53.5 57.4 63.7 1980 1981 1982 1983 1984 76.1 76.5 79.9 80.8 82.4 76.2 76.4 75.5 77.5 81.4 100.1 99.9 94.4 95.9 98.8 54.3 59.5 65.6 68.0 70.7 89.7 89.9 93.5 93.1 93.0 71.3 77.8 82.0 84.1 85.8 1985 1986 1987 1988 1989 86.0 88.7 90.5 91.9 91.7 83.6 86.3 90.0 92.8 93.4 97.1 97.3 99.4 100.9 101.9 74.7 77.7 79.8 83.7 86.5 95.0 97.1 96.4 97.5 96.7 86.8 87.6 88.2 91.0 94.4 1990 1991 1992 1993 1994 93.8 95.8 100.0 100.4 102.0 95.2 95.2 100.0 101.6 104.2 101.4 99.3 100.0 101.2 102.1 91.0 95.8 100.0 102.5 105.4 96.9 98.3 100.0 99.9 100.6 97.0 100.0 100.0 102.1 103.3 1995 104.9 106.1 101.1 107.9 100.3 102.9 1996 107.5 106.4 99.0 111.8 101.2 104.1 1997 110.7 109.6 99.1 116.4 103.0 105.2 1998 112.1 110.3 98.4 122.1 106.6 108.9 ----------------------------------------------------------------------------------------------See footnotes following Table 6. November 12, 1999 Source: Bureau of Labor Statistics Appendix table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor costs, unit profits, and prices Indexes 1992=100 Output Hourly Real Unit Total Unit Implicit per allcompenhourly Unit nonunit pro- price employee Employee sation compen labor labor costs fits deflator Year hour Output hours (1) sation(2) costs costs(6) (7) (8) (4) -------------------------------------------------------------------------------------------------------1959 51.6 26.9 52.1 15.0 67.0 29.0 26.0 28.1 58.4 30.7 1960 1961 1962 1963 1964 52.6 54.3 56.5 58.5 60.8 27.8 28.5 30.8 32.6 34.8 52.9 52.4 54.4 55.7 57.2 15.6 16.1 16.7 17.3 18.0 68.6 70.2 72.2 73.5 75.8 29.7 29.7 29.6 29.5 29.6 26.8 27.3 26.9 26.7 26.6 28.9 29.0 28.8 28.7 28.8 53.2 53.2 57.9 61.3 63.8 30.9 31.0 31.3 31.4 31.7 1965 1966 1967 1968 1969 62.2 63.0 63.9 66.0 66.0 37.6 40.2 41.3 43.8 45.5 60.5 63.9 64.5 66.4 69.0 18.5 19.5 20.6 22.2 23.7 76.7 78.6 80.4 83.0 84.0 29.8 31.0 32.3 33.6 35.9 26.4 26.3 27.9 29.4 31.6 28.8 29.7 31.0 32.4 34.7 68.9 68.8 64.3 64.2 57.9 32.2 32.9 33.8 35.1 36.6 1970 1971 1972 1973 1974 66.3 69.1 70.8 71.3 69.7 45.1 46.9 50.5 53.4 52.5 68.0 67.9 71.4 74.9 75.3 25.3 26.9 28.5 30.7 33.6 85.1 86.6 88.7 90.0 88.8 38.2 39.0 40.2 43.0 48.2 35.4 37.1 37.2 38.7 44.4 37.4 38.5 39.3 41.8 47.2 47.1 53.3 57.5 59.2 52.4 38.2 39.7 40.9 43.3 47.6 1975 1976 1977 1978 1979 72.4 74.6 76.3 76.9 75.8 51.6 55.6 59.6 63.5 65.0 71.3 74.6 78.1 82.6 85.8 37.0 40.0 43.2 47.0 51.3 89.5 91.6 92.8 94.3 94.2 51.1 53.7 56.6 61.1 67.7 50.2 50.1 51.7 54.4 60.1 50.8 52.6 55.2 59.2 65.6 68.4 77.4 85.1 88.5 82.8 52.3 54.7 57.7 61.6 67.0 1980 1981 1982 1983 1984 76.9 79.4 81.0 83.6 86.6 65.4 68.5 67.8 70.9 78.2 85.1 86.2 83.7 84.8 90.3 56.6 61.8 66.3 68.7 71.7 93.6 93.4 94.4 94.1 94.3 73.7 77.9 81.8 82.3 82.8 69.4 78.5 85.1 84.7 83.7 72.5 78.1 82.7 82.9 83.1 72.6 85.9 77.1 94.1 111.3 72.5 78.7 82.2 83.9 85.4 1985 1986 1987 1988 1989 88.3 90.7 92.6 94.7 93.8 81.6 84.1 88.7 93.8 95.7 92.5 92.7 95.8 99.1 102.0 75.0 78.8 81.7 84.8 87.0 95.5 98.5 98.7 98.9 97.2 85.0 86.9 88.2 89.6 92.7 85.1 87.5 87.3 89.1 95.9 85.0 87.1 87.9 89.5 93.6 107.0 89.7 100.3 110.3 99.0 86.8 87.3 89.0 91.2 94.1 1990 1991 1992 1993 1994 94.9 96.9 100.0 101.5 104.3 97.1 96.4 100.0 103.8 110.8 102.4 99.6 100.0 102.3 106.2 91.4 95.5 100.0 102.1 104.3 97.2 98.0 100.0 99.5 99.5 96.4 98.6 100.0 100.6 100.0 99.0 102.9 100.0 99.6 100.2 97.1 99.8 100.0 100.3 100.0 95.5 94.0 100.0 112.5 130.5 97.0 99.3 100.0 101.3 102.6 1995 105.6 115.7 109.6 106.2 98.6 100.5 100.9 100.6 137.5 103.7 1996 108.4 120.9 111.5 109.0 98.6 100.5 100.1 100.4 151.5 104.7 1997 111.7 128.9 115.4 113.0 100.0 101.1 99.4 100.6 157.1 105.3 1998 116.2 137.5 118.4 119.0 103.9 102.4 98.4 101.3 150.4 105.3 -------------------------------------------------------------------------------------------------------See footnotes following Table 6. November 12, 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 -1.9 and +2.6 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 second 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) The change for recent quarters is based on the Consumer Price Index for all urban consumers (CPI-U). The trend from 1978-1998 is based on the Consumer Price Index research series (CPI-U-RS). (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