The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
USDL 99-347 TRANSMISSION OF THIS MATERIAL IS EMBARGOED UNTIL 8:30 A.M. EST, TUESDAY, DECEMBER 7, 1999. Internet address: Historical, technical information: Current data: Media contact: http://stats.bls.gov/lprhome.htm (202) 691-5606 (202) 606-7828 (202) 691-5902 PRODUCTIVITY AND COSTS Third Quarter 1999 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 1999. The seasonally adjusted annual rates of productivity growth in the third quarter were: 4.7 percent in the business sector, and 4.9 percent in the nonfarm business sector. The increase in labor productivity for the business sector was the largest since a similar increase in the second quarter of 1996. In the nonfarm business sector, the third-quarter increase in labor productivity was the largest since a 7.4-percent rise in the fourth quarter of 1992. In manufacturing, revised productivity increases in the third quarter were: 3.9 percent in manufacturing, 4.5 percent in durable goods manufacturing, and 3.8 percent in nondurable goods manufacturing. The third-quarter productivity increase in manufacturing occurred as output rose 4.2 percent and hours of all persons working in the sector grew 0.3 percent. Output and hours in manufacturing, which includes about 17 percent of U.S. business sector employment, tend to vary more from quarter to quarter than data for the more aggregate business and nonfarm business sectors. Third-quarter measures are summarized in table A and appear in detail in tables 1 through 5. --------------------------------------------------------------------------Table A. Productivity and costs: Revised 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 4.7 6.3 1.6 4.6 1.9 -0.1 Nonfarm business 4.9 6.6 1.6 4.7 2.1 -0.2 Manufacturing 3.9 4.2 0.3 6.3 3.6 2.3 Durable 4.5 8.4 3.8 5.9 3.3 1.4 Nondurable 3.8 -1.2 -4.8 6.3 3.6 2.4 --------------------------------------------------------------------------Percent change from same quarter a year ago Business 3.2 4.8 1.6 4.9 2.6 1.7 Nonfarm business 3.1 4.9 1.8 4.6 2.3 1.5 Manufacturing 5.7 4.3 -1.3 4.9 2.5 -0.8 Durable 8.6 7.6 -0.9 4.8 2.5 -3.5 Nondurable 2.1 0.1 -2.0 4.9 2.6 2.7 --------------------------------------------------------------------------- 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 rose at an annual rate of 4.7 percent as output increased 6.3 percent and hours of all persons engaged in the sector increased 1.6 percent (table 1). Employment in the business sector rose in the third quarter by 2.1 percent, but this increase was partially offset by a 0.5-percent decline in average weekly hours at work. Hourly compensation increased 4.6 percent during the third quarter of 1999. 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, rose 1.9 percent in the third quarter of 1999. Unit labor costs declined slightly in the third quarter, -0.1 percent. Unit labor costs had increased 4.2 percent in the second quarter of 1999. The implicit price deflator for the business sector, which reflects changes both in unit labor costs and in unit nonlabor payments, increased at a 0.7 percent annual rate in the third quarter of 1999, after rising 1.1 percent in the previous quarter. Nonfarm business Output per hour of all persons in the nonfarm business sector increased 4.9 percent during the third quarter of 1999. This was the largest productivity gain since the fourth quarter of 1992, when it grew at a 7.4 percent annual rate. Output increased 6.6 percent in the third quarter of 1999 and hours of all persons rose 1.6 percent (table 2). As in the larger business sector, an employment increase, 2.2 percent, was mitigated by a decline in average weekly hours at work of 0.6 percent. Hourly compensation increased at a 4.7 percent annual rate in the third quarter of 1999, similar to a 4.8 percent increase one quarter earlier. When the rise in consumer prices is taken into account, real hourly compensation rose at a 2.1 percent annual rate in the third quarter. Unit labor costs fell 0.2 percent in the third quarter of 1999. costs account for approximately 63 percent of all nonfarm business The implicit price deflator for nonfarm business rose 0.7 percent, the decline in unit labor costs and a 2.3-percent increase in unit payments. In the second quarter, the implicit price deflator rose percent, reflecting a 4.2-percent increase in unit labor costs and percent decline in unit nonlabor payments. Labor payments. reflecting nonlabor 1.4 a 3.1 Manufacturing Productivity increased 3.9 percent in manufacturing in the third quarter of 1999, as output rose 4.2 percent and hours of all persons grew 0.3 percent (seasonally adjusted annual rates). In durable goods industries, productivity grew 4.5 percent in the third quarter as output and hours rose 8.4 and 3.8 percent, respectively. In the nondurable goods industries, thirdquarter productivity grew 3.8 percent as output dropped 1.2 percent and hours fell further, -4.8 percent (tables 3, 4, and 5). Hourly compensation of all manufacturing workers rose 6.3 percent during the third quarter of 1999 (seasonally adjusted annual rates). In durable goods manufacturing, hourly compensation rose 5.9 percent during the third quarter. The increase in nondurable goods manufacturing was higher, 6.3 percent. When the increase in consumer prices is taken into account, real hourly compensation for all manufacturing workers rose 3.6 percent in the third quarter. Unit labor costs in manufacturing rose 2.3 percent in the third quarter of 1999. Unit labor costs rose 1.4 percent in durable goods manufacturing, following five consecutive quarters of declines in this measure. In nondurable goods manufacturing, unit labor costs in the third quarter rose 2.4 percent. Nonfinancial Corporations Third-quarter 1999 measures of productivity and costs also were announced for nonfinancial corporations (tables B and 6). Output per all-employee hour grew at a 4.7 percent annual rate, compared with a 3.2 percent increase in the previous quarter. Output increased 7.1 percent in the third quarter of 1999, and hours of all employees increased 2.3 percent (seasonally adjusted annual rates). 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. -----------------------------------------------------------------------------Table B. Nonfinancial corporations: Third-quarter 1999 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 1999 III 4.7 7.1 2.3 4.6 2.0 -0.1 -8.0 -0.3 -----------------------------------------------------------------------------Percent change from same quarter a year ago 1999 III 3.8 5.7 1.8 4.8 2.4 0.9 -4.7 0.4 ------------------------------------------------------------------------------ Hourly compensation increased 4.6 percent in the third quarter; it rose 4.8 percent in the second quarter. When the rise in consumer prices is taken into account, real hourly compensation increased 2.0 percent in the third quarter and 1.3 percent in the second. Unit labor costs for nonfinancial corporations declined 0.1 percent in the third quarter, the first decline since the third quarter of 1997 when they fell 1.5 percent. Unit nonlabor costs increased 3.0 percent in the third quarter and 1.8 percent in the second quarter. Unit profits declined at an 8.0 percent annual rate. The implicit price deflator for the output of nonfinancial corporations declined 0.3 percent in the third quarter of 1999. In the previous quarter, the implicit price deflator rose 1.1 percent. Revised Measures Current and previous measures for the third quarter of 1999 for the business, nonfarm business, and manufacturing sectors are compared in table C. In the business and nonfarm business sectors, increases in productivity and output are larger than those reported on Nov. 12, based on the information available at that time. Unit labor cost measures for these sectors are correspondingly lower. --------------------------------------------------------------------------Table C. 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 --------------------------------------------------------------------------Third quarter 1999 Business: Previous 4.0 5.4 1.4 4.7 2.0 0.7 Current 4.7 6.3 1.6 4.6 1.9 -0.1 Nonfarm business: Previous 4.2 5.7 1.5 4.8 2.2 0.6 Current 4.9 6.6 1.6 4.7 2.1 -0.2 Manufacturing: Previous 3.4 3.4 0.0 6.2 3.5 2.7 Current 3.9 4.2 0.3 6.3 3.6 2.3 --------------------------------------------------------------------------- In manufacturing, rates of growth in productivity were revised upward in the third quarter due to revisions in the output measures. Unit labor costs were revised downward by similar amounts (tables 3-5 and appendix tables 13). The quarterly measures of productivity, output, and unit labor costs for manufacturing were revised back to 1992 due to the incorporation of revised indexes of industrial production. Annual measures for 1997 and 1998 also were affected. These indexes, published by the Board of Governors of the Federal Reserve System, were changed to incorporate additional and revised source data and updated information on seasonal trends. (See Federal Reserve Statistical Release G.17, "Industrial production and capacity utilization: a revision," Nov. 30, 1999.) Next release date The next release of Productivity and Costs is scheduled for 8:30 AM EST, Tuesday, February 8, 2000. Preliminary fourth-quarter and annual 1999 measures will be released at that time. Scheduled release dates for productivity and costs measures for major sectors of the U.S. economy in 2000 are: -----------------------------------------------------Reference period 2000 release date 1999: Fourth quarter, Annual February 8 Fourth quarter, Annual (revised) March 7 2000: First quarter May 4 First quarter (revised) June 6 Second quarter August 8 Second quarter (revised) September 6 Third quarter November 2 Third quarter (revised) December 6 ------------------------------------------------------ These dates are based on presently available schedules for the release of underlying source data in 2000. Each issue of Productivity and Costs contains a "Next release date" paragraph that readers should use to confirm the dates above. Industry Unit Labor Costs Report 939, to be released in December, will present annual indexes of unit labor costs beginning in 1987 for 173 industries at the 3-digit SIC level. Unit labor cost series have been calculated for all manufacturing and retail trade industries at the 3- and 4-digit SIC level and for selected 2-, 3-, and 4-digit industries in mining, transportation, communications and utilities, wholesale trade, finance, and services industries. The published indexes and rates of change in unit labor costs, labor productivity, and related series will be available at http://stats.bls.gov/iprhome.htm on the BLS website. Requests for published or unpublished data may be sent to dipsweb@bls.gov by e-mail, or data may be requested by calling the Division of Industry Productivity Studies at (202) 691-5618. 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 106.3 107.1 108.1 108.4 120.0 121.8 123.2 124.4 112.9 113.7 114.0 114.7 112.5 113.2 114.6 116.4 100.1 100.4 101.2 102.4 105.9 105.7 106.0 107.4 114.5 115.9 116.0 114.1 109.1 109.5 109.7 109.9 ANNUAL 107.5 122.3 113.8 114.2 101.1 106.2 115.1 109.5 I II III IV 109.7 109.8 110.7 111.9 126.9 127.5 128.9 131.2 115.7 116.1 116.4 117.2 117.8 119.4 121.2 122.7 103.4 104.4 105.6 106.5 107.5 108.8 109.5 109.6 114.2 112.6 112.1 112.1 110.0 110.2 110.4 110.5 ANNUAL 110.5 128.6 116.4 120.3 105.1 108.8 112.7 110.3 1999 I 112.7 132.5 117.5 124.2 107.4 110.2 112.1 110.9 II 113.0 133.1 117.8 125.7 107.8 111.3 110.9 111.2 III r114.3 r135.1 r118.3 r127.1 r108.3 r111.3 r111.5 r111.4 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV 1.3 3.4 3.6 1.2 5.8 6.2 4.8 3.9 4.4 2.7 1.1 2.7 3.4 2.6 4.8 6.7 1.0 1.5 3.0 4.8 2.1 -0.7 1.1 5.4 2.4 4.9 0.2 -6.2 2.2 1.4 0.8 0.7 ANNUAL 2.2 5.4 3.1 3.7 1.5 1.5 1.4 1.5 I II III IV 4.6 0.6 3.4 4.3 8.1 2.2 4.4 7.2 3.4 1.6 0.9 2.8 4.9 5.5 6.1 4.9 4.2 3.9 4.7 3.3 0.3 4.9 2.6 0.6 0.4 -5.6 -1.9 -0.1 0.4 0.8 0.9 0.4 ANNUAL 2.8 5.1 2.2 5.3 3.9 2.4 -2.1 0.7 1999 I 3.0 3.9 0.9 4.9 3.6 1.9 0.2 1.3 II 0.8 1.9 1.0 5.1 1.5 4.2 -4.1 1.1 III r4.7 r6.3 r1.6 r4.6 r1.9 r-0.1 r2.0 r0.7 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV 2.1 1.7 2.6 2.4 5.5 5.1 5.7 5.2 3.4 3.3 3.0 2.7 3.6 3.2 3.5 4.4 0.8 1.0 1.4 2.6 1.5 1.4 0.9 1.9 1.7 1.7 2.1 0.2 1.6 1.5 1.4 1.3 ANNUAL 2.2 5.4 3.1 3.7 1.5 1.5 1.4 1.5 I II III IV 3.2 2.5 2.4 3.2 5.8 4.7 4.6 5.5 2.5 2.2 2.1 2.2 4.7 5.5 5.8 5.4 3.4 4.0 4.4 4.0 1.5 2.9 3.3 2.1 -0.3 -2.8 -3.4 -1.8 0.8 0.7 0.7 0.6 ANNUAL 2.8 5.1 2.2 5.3 3.9 2.4 -2.1 0.7 I 2.8 4.4 1.6 5.4 3.8 2.5 -1.9 0.8 II 2.9 4.3 1.4 5.3 3.2 2.3 -1.5 0.9 III r3.2 r4.8 1.6 4.9 2.6 r1.7 r-0.5 0.8 --------------------------------------------------------------------------------------------------------See footnotes following Table 6. December 7, 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 106.1 106.9 107.8 108.1 120.2 122.0 123.4 124.6 113.3 114.1 114.5 115.3 112.2 112.9 114.1 115.9 99.8 100.1 100.8 101.9 105.7 105.6 105.8 107.2 115.0 116.6 117.0 115.3 109.1 109.6 109.9 110.1 ANNUAL 107.2 122.5 114.3 113.8 100.7 106.1 115.9 109.7 I II III IV 109.3 109.5 110.4 111.5 127.1 127.9 129.3 131.6 116.3 116.8 117.1 118.0 117.2 118.8 120.6 122.0 102.9 103.9 105.1 105.9 107.3 108.5 109.3 109.4 115.8 114.1 113.1 112.7 110.4 110.5 110.7 110.6 ANNUAL 110.2 129.0 117.1 119.7 104.5 108.6 113.9 110.5 1999 I 112.2 132.9 118.4 123.3 106.6 109.8 113.1 111.0 II 112.4 133.5 118.7 124.7 106.9 111.0 112.2 111.4 III r113.8 r135.6 119.2 126.2 107.5 r110.9 r112.8 111.6 --------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 1999 I II III IV 0.9 3.3 3.3 1.2 5.5 6.2 4.6 4.1 4.5 2.8 1.3 2.9 3.6 2.6 4.4 6.4 1.2 1.5 2.6 4.5 2.7 -0.6 1.0 5.1 2.2 5.7 1.3 -5.7 2.5 1.7 1.1 0.8 ANNUAL 2.0 5.3 3.3 3.6 1.4 1.6 1.9 1.7 I II III IV 4.4 0.9 3.1 4.1 8.3 2.4 4.4 7.3 3.7 1.4 1.2 3.1 4.8 5.6 6.2 4.6 4.1 3.9 4.7 2.9 0.4 4.6 3.0 0.5 1.8 -5.8 -3.2 -1.6 0.9 0.5 0.6 -0.3 ANNUAL 2.8 5.2 2.4 5.2 3.8 2.4 -1.8 0.8 I II 2.7 0.6 4.0 1.8 1.3 1.3 4.2 4.8 2.8 1.2 1.4 4.2 1.5 -3.1 1.5 1.4 III r4.9 r6.6 r1.6 r4.7 r2.1 r-0.2 r2.3 0.7 --------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV 1.8 1.5 2.3 2.2 5.4 5.1 5.5 5.1 3.6 3.5 3.1 2.9 3.5 3.1 3.5 4.2 0.7 1.0 1.4 2.4 1.7 1.6 1.1 2.0 1.8 2.2 2.9 0.8 1.7 1.8 1.8 1.5 ANNUAL 2.0 5.3 3.3 3.6 1.4 1.6 1.9 1.7 I II III IV 3.0 2.4 2.4 3.1 5.8 4.8 4.8 5.6 2.7 2.3 2.3 2.4 4.5 5.3 5.7 5.3 3.2 3.8 4.3 3.9 1.5 2.8 3.3 2.1 0.7 -2.2 -3.3 -2.3 1.2 0.9 0.7 0.5 ANNUAL 2.8 5.2 2.4 5.2 3.8 2.4 -1.8 0.8 I 2.7 4.5 1.7 5.1 3.6 2.4 -2.3 0.6 II 2.6 4.4 1.7 4.9 2.9 2.3 -1.6 0.8 III r3.1 r4.9 1.8 4.6 2.3 r1.5 r-0.3 0.8 --------------------------------------------------------------------------------------------------------See footnotes following Table 6. December 7, 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 r116.9 r118.4 r120.9 r122.0 r122.7 r124.9 r127.3 r129.6 105.0 105.5 105.3 106.2 111.8 112.6 113.6 115.5 99.5 99.9 100.3 101.5 r95.7 r95.1 r94.0 r94.6 ANNUAL r119.6 r126.1 105.5 113.4 100.4 r94.8 I II III IV r122.7 r123.9 r126.3 r128.2 r130.6 r131.5 r132.6 r134.4 106.4 106.1 105.0 104.9 117.0 118.6 120.6 121.4 102.7 103.7 105.1 105.4 r95.3 r95.7 r95.5 r94.7 ANNUAL r125.3 r132.3 105.6 119.4 104.3 r95.3 1999 I r130.4 r135.2 103.7 122.8 106.2 r94.1 II r132.2 r136.8 103.5 124.5 106.8 r94.2 III r133.5 r138.3 r103.6 126.4 107.7 r94.7 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV r4.0 r5.5 8.4 r3.9 r7.1 r7.4 r7.8 r7.4 3.0 1.8 -0.6 3.3 5.5 2.9 3.6 6.8 3.0 1.8 1.8 4.9 r1.4 r-2.4 r-4.5 r2.7 ANNUAL r5.0 r6.9 1.8 3.7 1.5 r-1.3 I II III IV r2.4 r3.9 r7.8 r6.1 r3.3 r2.6 r3.4 r5.6 0.9 -1.2 -4.1 -0.5 5.4 5.4 6.9 2.9 4.7 3.8 5.4 1.2 r3.0 r1.5 r-0.9 r-3.1 ANNUAL r4.8 r4.9 0.1 5.3 3.9 r0.5 1999 I r7.3 r2.5 -4.5 4.5 3.1 r-2.7 II r5.5 r4.9 -0.5 5.8 2.2 r0.3 III r3.9 r4.2 r0.3 r6.3 r3.6 r2.3 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV r4.4 r4.8 r5.4 r5.5 r6.9 r6.5 r6.7 r7.4 2.4 1.6 1.2 1.9 3.1 3.3 3.7 4.7 0.3 1.2 1.6 2.9 r-1.2 r-1.4 r-1.6 r-0.7 ANNUAL r5.0 r6.9 1.8 3.7 1.5 r-1.3 I II III IV r5.0 r4.6 r4.5 r5.0 r6.5 r5.3 r4.2 r3.7 1.4 0.6 -0.3 -1.2 4.7 5.3 6.1 5.1 3.3 3.8 4.7 3.8 r-0.4 r0.6 r1.6 r0.1 ANNUAL r4.8 r4.9 0.1 5.3 3.9 r0.5 I r6.3 r3.5 -2.6 4.9 3.4 r-1.3 II r6.7 r4.1 -2.4 5.0 3.0 r-1.6 III r5.7 r4.3 r-1.3 r4.9 2.5 r-0.8 -------------------------------------------------------------------------------------------------See footnotes following Table 6. December 7, 1999 r=revised Source: Bureau of Labor Statistics Table 4. Durable manufacturing sector: seasonally adjusted Productivity, hourly compensation, and unit labor costs, Real Year Output per Hours CompensacompensaUnit and hour of of all tion per tion per labor quarter all persons Output persons hour (1) hour (2) costs -------------------------------------------------------------------------------------------------Indexes 1992=100 1997 1998 I II III IV r125.6 r128.6 r131.9 r134.3 r137.5 r141.7 r145.6 r149.3 109.5 110.2 110.4 111.2 109.4 110.2 110.9 113.2 97.3 97.7 98.0 99.5 r87.1 r85.7 r84.1 r84.3 ANNUAL r130.1 r143.5 110.3 110.9 98.2 r85.3 I II III IV r135.7 r138.0 r142.4 r145.7 r151.7 r153.8 r157.1 r160.8 111.8 111.4 110.4 110.4 114.7 116.2 118.3 118.9 100.7 101.6 103.0 103.2 r84.5 r84.2 r83.1 r81.6 ANNUAL r140.4 r155.9 111.0 117.0 102.2 r83.3 1999 I r149.1 r162.0 108.7 120.3 104.0 r80.7 II r152.9 r165.7 108.4 122.1 104.7 r79.9 III r154.6 r169.0 r109.4 123.9 r105.6 r80.2 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV r4.8 r9.9 r10.7 7.4 r10.9 r12.8 r11.4 r10.6 5.8 2.6 0.6 3.0 5.6 2.8 2.8 8.3 3.1 1.6 1.1 6.3 r0.7 r-6.5 r-7.2 0.8 ANNUAL r7.1 r10.2 2.9 3.3 1.1 r-3.5 I II III IV r4.3 r7.1 r13.2 r9.6 r6.5 r5.7 r9.0 r9.6 2.2 -1.4 -3.7 0.0 5.5 5.5 7.2 2.2 4.8 3.8 5.7 0.6 r1.2 r-1.5 r-5.3 r-6.8 ANNUAL r7.9 r8.6 0.6 5.5 4.1 r-2.3 1999 I r9.7 r3.1 -6.0 4.6 3.2 r-4.7 II r10.5 r9.3 -1.1 6.5 2.8 r-3.7 III r4.5 r8.4 r3.8 r5.9 r3.3 r1.4 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV r5.9 r6.6 r7.5 r8.2 r9.9 r9.4 r10.0 r11.4 3.8 2.6 2.3 3.0 2.3 2.9 3.2 4.8 -0.4 0.7 1.1 3.0 r-3.3 r-3.5 r-4.0 r-3.1 ANNUAL r7.1 r10.2 2.9 3.3 1.1 r-3.5 I II III IV r8.1 r7.4 r7.9 r8.5 r10.3 r8.5 r7.9 r7.7 2.1 1.1 0.0 -0.7 4.8 5.5 6.6 5.1 3.4 4.0 5.2 3.7 r-3.0 r-1.7 r-1.2 r-3.2 ANNUAL r7.9 r8.6 0.6 5.5 4.1 r-2.3 I r9.9 r6.8 -2.8 4.8 3.3 r-4.6 II r10.7 r7.7 -2.7 5.1 3.1 r-5.1 III r8.6 r7.6 r-0.9 r4.8 r2.5 r-3.5 -------------------------------------------------------------------------------------------------See footnotes following Table 6. December 7, 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 r110.0 r111.7 r111.6 108.8 r109.1 r110.1 r111.0 99.0 99.2 98.6 99.5 114.8 115.7 117.0 118.2 102.1 102.6 103.3 104.0 104.5 r105.1 r104.8 r105.9 ANNUAL r110.8 r109.8 99.1 116.4 103.0 r105.1 I II III IV r111.7 r111.6 112.0 r112.6 r110.9 r110.6 109.6 r109.8 99.3 99.1 97.9 97.5 119.7 121.3 123.1 124.3 105.1 106.1 107.3 107.9 r107.2 r108.7 109.9 r110.4 ANNUAL r112.0 r110.2 98.4 122.1 106.6 r109.0 1999 I r113.7 r110.3 97.0 125.7 108.7 r110.6 II r113.4 r110.1 97.1 127.2 109.1 r112.2 III r114.4 r109.7 r95.9 129.2 110.1 r112.9 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV r3.9 r0.7 r6.1 r-0.2 r3.0 r1.3 r3.5 3.6 -0.9 0.7 -2.4 3.7 4.8 3.1 4.6 4.4 2.3 1.9 2.9 2.5 r0.8 r2.4 r-1.4 r4.6 ANNUAL r3.1 r3.2 0.1 4.1 1.9 r1.0 I II III IV r0.3 r-0.3 r1.5 r1.8 r-0.6 r-1.1 r-3.3 r0.5 -0.9 -0.9 -4.7 -1.3 5.0 5.4 6.2 3.9 4.3 3.8 4.8 2.2 r4.7 r5.7 r4.6 r2.0 ANNUAL r1.1 r0.4 -0.6 4.9 3.5 r3.8 1999 I r4.0 r1.8 -2.1 4.6 3.2 r0.6 II r-1.0 r-0.8 0.3 4.9 1.3 r5.9 III r3.8 -1.2 r-4.8 6.3 3.6 r2.4 -------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV r3.2 r3.1 r3.4 r2.6 r3.6 r3.3 r2.9 r2.9 0.4 0.2 -0.5 0.2 4.0 3.9 4.2 4.2 1.2 1.7 2.1 2.4 r0.8 0.7 r0.8 r1.6 ANNUAL r3.1 r3.2 0.1 4.1 1.9 r1.0 I II III IV r1.7 r1.5 r0.3 r0.8 r1.9 r1.3 r-0.4 r-1.1 0.2 -0.1 -0.7 -2.0 4.3 4.9 5.3 5.1 2.9 3.4 3.9 3.8 r2.6 r3.4 r4.9 r4.3 ANNUAL r1.1 r0.4 -0.6 4.9 3.5 r3.8 I r1.8 r-0.5 -2.3 5.0 3.5 r3.2 II r1.6 r-0.4 -2.0 4.9 2.9 r3.3 III r2.1 r0.1 r-2.0 4.9 2.6 r2.7 -------------------------------------------------------------------------------------------------See footnotes following Table 6. December 7, 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 110.1 110.7 112.4 113.2 125.5 127.5 130.2 132.3 114.0 115.1 115.8 116.9 111.2 112.0 113.3 115.1 98.9 99.3 100.0 101.2 101.0 101.1 100.7 101.6 99.8 99.9 99.2 98.6 100.7 100.8 100.3 100.8 155.6 156.2 161.1 155.3 105.3 105.4 105.4 105.3 ANNUAL 111.7 128.9 115.4 113.0 100.0 101.1 99.4 100.6 157.1 105.3 I II III IV 114.2 115.3 117.0 117.9 134.6 136.3 138.7 140.6 117.8 118.1 118.6 119.3 116.4 118.0 119.8 121.3 102.2 103.2 104.4 105.3 101.9 102.3 102.4 102.9 98.0 98.2 98.0 99.2 100.8 101.2 101.2 101.8 153.7 150.1 152.6 145.3 105.2 105.2 105.5 105.5 ANNUAL 116.2 137.5 118.4 119.0 103.9 102.4 98.4 101.3 150.4 105.3 1999 I 119.1 142.6 119.7 122.7 106.1 103.0 98.4 101.7 149.5 105.7 II 120.0 144.1 120.0 124.2 106.5 103.4 98.8 102.1 148.5 106.0 III 121.4 146.6 120.7 125.6 107.0 103.4 99.5 102.3 145.4 105.9 ---------------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1997 1998 I II III IV 1.8 2.3 6.3 2.8 6.1 6.4 8.9 6.4 4.3 4.0 2.5 3.5 3.6 2.7 4.7 6.5 1.2 1.5 2.9 4.6 1.8 0.3 -1.5 3.6 -0.3 0.5 -2.6 -2.5 1.2 0.4 -1.8 1.9 4.6 1.6 13.0 -13.6 1.6 0.5 -0.1 -0.2 ANNUAL 3.0 6.6 3.5 3.6 1.4 0.6 -0.7 0.2 3.7 0.6 I II III IV 3.7 3.9 5.9 3.2 7.1 5.1 7.5 5.6 3.3 1.2 1.5 2.3 4.8 5.7 6.3 4.9 4.1 4.1 4.8 3.3 1.1 1.7 0.4 1.7 -2.6 0.9 -0.7 4.9 0.0 1.5 0.1 2.6 -4.1 -9.1 6.8 -17.8 -0.5 0.2 0.9 -0.1 ANNUAL 4.0 6.7 2.6 5.3 3.9 1.3 -1.0 0.6 -4.3 0.0 1999 I 4.1 5.7 1.6 4.7 3.3 0.6 -3.4 -0.5 12.0 0.8 II 3.2 4.2 1.0 4.8 1.3 1.6 1.8 1.6 -2.6 1.1 III 4.7 7.1 2.3 4.6 2.0 -0.1 3.0 0.7 -8.0 -0.3 ---------------------------------------------------------------------------------------------------------Percent change from corresponding quarter of previous year 1997 1998 1999 I II III IV 2.6 2.5 3.6 3.3 6.2 6.2 7.2 7.0 3.5 3.5 3.5 3.6 3.5 3.1 3.5 4.3 0.7 0.9 1.4 2.5 0.8 0.6 -0.1 1.0 -0.6 -0.2 -0.6 -1.2 0.4 0.4 -0.3 0.4 4.0 3.4 6.4 0.9 0.8 0.7 0.6 0.5 ANNUAL 3.0 6.6 3.5 3.6 1.4 0.6 -0.7 0.2 3.7 0.6 I II III IV 3.8 4.1 4.0 4.1 7.2 6.9 6.5 6.3 3.3 2.6 2.4 2.1 4.6 5.4 5.8 5.4 3.3 3.9 4.4 4.1 0.8 1.2 1.7 1.2 -1.8 -1.7 -1.2 0.6 0.1 0.4 0.9 1.1 -1.2 -3.9 -5.3 -6.5 -0.1 -0.1 0.1 0.1 ANNUAL 4.0 6.7 2.6 5.3 3.9 1.3 -1.0 0.6 -4.3 0.0 I 4.3 6.0 1.7 5.4 3.9 1.1 0.4 0.9 -2.8 0.5 II 4.1 5.7 1.6 5.2 3.2 1.1 0.6 0.9 -1.1 0.7 III 3.8 5.7 1.8 4.8 2.4 0.9 1.5 1.1 -4.7 0.4 ---------------------------------------------------------------------------------------------------------See footnotes following Table 6. December 7, 1999 r=revised Source: Bureau of Labor Statistics Appendix table 1. Manufacturing sector: Productivity, hourly compensation, and unit labor costs, seasonally adjusted Real Year Output per Hours CompensacompensaUnit and hour of of all tion per tion per labor quarter all persons Output persons hour (1) hour (2) costs -------------------------------------------------------------------------------------------------Indexes 1992=100 1992 1993 1994 1995 1996 I II III IV 98.3 99.6 100.8 101.3 97.8 99.7 100.7 101.7 99.5 100.1 99.9 100.4 98.4 99.6 100.7 101.2 99.4 99.9 100.4 100.1 100.1 100.0 99.9 99.9 ANNUAL 100.0 100.0 100.0 100.0 100.0 100.0 I II III IV 101.9 102.1 101.8 102.9 102.7 103.3 103.4 105.0 100.8 101.2 101.5 102.0 101.5 102.3 103.1 104.0 99.9 99.9 100.2 100.4 99.6 100.3 101.2 101.1 ANNUAL 102.2 103.6 101.4 102.7 100.2 100.5 I II III IV 103.8 105.2 105.8 106.5 106.1 108.4 110.0 111.8 102.2 103.0 104.0 105.1 105.1 105.2 105.8 106.5 101.1 100.7 100.5 100.6 101.2 100.0 100.0 100.0 ANNUAL 105.3 109.1 103.6 105.6 100.8 100.3 I II III IV 107.8 109.0 110.0 110.9 113.3 113.4 114.0 114.7 105.0 104.0 103.7 103.4 106.8 107.8 108.4 108.6 100.2 100.3 100.3 100.0 99.1 98.9 98.6 97.9 ANNUAL 109.4 113.8 104.0 107.9 100.2 98.6 I II III IV 112.0 113.0 114.7 115.7 114.8 117.3 119.3 120.6 102.6 103.8 104.1 104.2 108.5 109.0 109.6 110.3 99.2 98.7 98.8 98.7 96.9 96.4 95.6 95.4 ANNUAL 113.8 118.0 103.7 109.3 98.9 96.0 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1992 1993 1994 1995 1996 I II III IV 5.9 5.5 4.8 2.2 3.3 8.1 4.0 4.0 -2.5 2.4 -0.8 1.8 4.9 5.0 4.3 2.2 2.5 2.1 1.8 -1.1 -1.0 -0.5 -0.5 0.1 ANNUAL 5.1 4.7 -0.4 4.6 2.0 -0.4 I II III IV 2.5 0.5 -0.9 4.2 4.1 2.1 0.4 6.4 1.5 1.6 1.3 2.1 1.1 3.2 3.0 3.7 -0.8 0.2 1.1 0.9 -1.4 2.8 3.9 -0.6 ANNUAL 2.2 3.6 1.4 2.7 0.2 0.5 I II III IV 3.5 5.7 2.1 2.7 4.3 9.1 5.8 7.0 0.8 3.2 3.7 4.2 4.1 0.5 2.3 2.7 2.8 -1.7 -0.9 0.4 0.6 -4.9 0.2 0.0 ANNUAL 3.1 5.3 2.2 2.8 0.6 -0.2 I II III IV 5.2 4.5 3.6 3.4 5.2 0.4 2.3 2.5 0.0 -4.0 -1.3 -0.8 1.2 3.5 2.3 0.7 -1.6 0.4 0.2 -1.3 -3.7 -1.0 -1.2 -2.6 ANNUAL 3.9 4.3 0.4 2.1 -0.5 -1.7 I II III IV 3.9 3.9 5.9 3.8 0.4 9.0 7.1 4.3 -3.4 4.9 1.1 0.5 -0.4 1.9 2.2 2.8 -3.2 -1.7 0.2 -0.2 -4.1 -1.9 -3.5 -0.9 ANNUAL 4.1 3.7 -0.4 1.3 -1.3 -2.6 -------------------------------------------------------------------------------------------------- Percent change from corresponding quarter of previous year 1992 1993 1994 1995 1996 I II III IV 5.2 5.7 5.0 4.6 3.9 5.5 4.4 4.8 -1.2 -0.2 -0.5 0.2 5.0 4.9 4.6 4.1 2.5 2.2 1.9 1.3 -0.1 -0.8 -0.4 -0.5 ANNUAL 5.1 4.7 -0.4 4.6 2.0 -0.4 I II III IV 3.7 2.5 1.0 1.6 5.0 3.5 2.6 3.2 1.3 1.0 1.6 1.6 3.1 2.7 2.4 2.7 0.5 0.0 -0.2 0.3 -0.6 0.2 1.3 1.2 ANNUAL 2.2 3.6 1.4 2.7 0.2 0.5 I II III IV 1.8 3.1 3.9 3.5 3.3 5.0 6.4 6.5 1.4 1.8 2.4 3.0 3.5 2.8 2.6 2.4 1.2 0.8 0.3 0.2 1.7 -0.3 -1.2 -1.0 ANNUAL 3.1 5.3 2.2 2.8 0.6 -0.2 I II III IV 3.9 3.6 4.0 4.2 6.7 4.5 3.7 2.6 2.7 0.9 -0.3 -1.5 1.7 2.4 2.4 1.9 -0.9 -0.4 -0.2 -0.6 -2.1 -1.1 -1.5 -2.1 ANNUAL 3.9 4.3 0.4 2.1 -0.5 -1.7 I II III IV 3.8 3.7 4.3 4.4 1.4 3.5 4.7 5.2 -2.4 -0.2 0.4 0.8 1.5 1.1 1.1 1.6 -1.0 -1.5 -1.5 -1.3 -2.2 -2.5 -3.0 -2.6 ANNUAL 4.1 3.7 -0.4 1.3 -1.3 -2.6 -------------------------------------------------------------------------------------------------See footnotes following Table 6. December 7, 1999 Source: Bureau of Labor Statistics Appendix table 2. 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 1992 1993 1994 1995 1996 I II III IV 97.8 99.7 100.7 101.9 97.5 99.8 100.5 102.2 99.7 100.1 99.9 100.3 98.4 99.6 100.7 101.3 99.3 99.9 100.4 100.1 100.6 100.0 100.1 99.4 ANNUAL 100.0 100.0 100.0 100.0 100.0 100.0 I II III IV 103.2 104.2 103.5 105.9 104.0 105.2 105.3 108.5 100.7 101.0 101.7 102.5 101.6 102.5 103.2 104.2 100.0 100.1 100.3 100.7 98.5 98.4 99.7 98.4 ANNUAL 104.2 105.7 101.5 102.9 100.3 98.8 I II III IV 107.0 108.9 110.2 110.9 110.2 113.2 115.9 118.2 103.0 103.9 105.2 106.6 105.2 105.2 105.7 106.4 101.2 100.7 100.4 100.5 98.3 96.6 96.0 96.0 ANNUAL 109.3 114.4 104.7 105.6 100.8 96.7 I II III IV 113.0 114.0 115.3 116.9 120.5 120.8 122.2 124.1 106.7 106.0 106.0 106.2 106.8 107.6 108.1 107.7 100.1 100.2 100.0 99.2 94.5 94.4 93.7 92.1 ANNUAL 114.8 121.9 106.2 107.5 99.9 93.7 I II III IV 118.6 120.6 122.7 124.1 125.1 129.5 132.3 134.0 105.5 107.4 107.8 108.0 106.9 107.1 107.5 108.0 97.8 97.0 96.9 96.6 90.1 88.8 87.6 87.0 ANNUAL 121.5 130.2 107.2 107.4 97.1 88.3 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1992 1993 1994 1995 1996 I II III IV 5.2 8.0 4.0 5.0 2.3 9.6 3.2 6.9 -2.8 1.4 -0.8 1.8 5.1 5.2 4.5 2.2 2.7 2.3 2.0 -1.1 -0.1 -2.6 0.5 -2.7 ANNUAL 6.0 4.7 -1.3 5.0 2.3 -1.0 I II III IV 5.3 3.7 -2.6 9.6 7.1 4.7 0.4 12.9 1.7 1.0 3.0 3.0 1.5 3.4 2.6 4.3 -0.5 0.4 0.7 1.5 -3.7 -0.3 5.3 -4.9 ANNUAL 4.2 5.7 1.5 2.9 0.3 -1.2 I II III IV 4.3 7.4 4.6 2.6 6.4 11.5 9.8 8.2 2.0 3.8 4.9 5.4 3.7 0.1 2.0 2.7 2.3 -2.1 -1.1 0.5 -0.6 -6.8 -2.5 0.1 ANNUAL 4.9 8.2 3.2 2.7 0.5 -2.1 I II III IV 7.7 3.7 4.8 5.4 8.1 1.0 4.8 6.2 0.4 -2.6 0.0 0.8 1.3 3.2 1.6 -1.4 -1.6 0.1 -0.5 -3.4 -5.9 -0.5 -3.1 -6.4 ANNUAL 5.1 6.6 1.5 1.8 -0.9 -3.1 I II III IV 6.1 6.9 7.0 4.8 3.4 14.8 8.8 5.3 -2.6 7.4 1.7 0.5 -2.8 0.5 1.5 1.8 -5.6 -3.0 -0.5 -1.2 -8.4 -6.0 -5.1 -2.8 ANNUAL 5.9 6.8 0.9 -0.2 -2.8 -5.7 -------------------------------------------------------------------------------------------------- Percent change from corresponding quarter of previous year 1992 1993 1994 1995 1996 I II III IV 5.7 7.1 5.7 5.6 3.5 5.5 4.2 5.4 -2.1 -1.4 -1.4 -0.1 5.4 5.4 4.9 4.2 2.9 2.7 2.2 1.4 -0.3 -1.6 -0.8 -1.3 ANNUAL 6.0 4.7 -1.3 5.0 2.3 -1.0 I II III IV 5.6 4.5 2.8 3.9 6.7 5.4 4.7 6.2 1.0 0.9 1.8 2.1 3.3 2.9 2.4 2.9 0.7 0.2 -0.1 0.5 -2.1 -1.6 -0.4 -1.0 ANNUAL 4.2 5.7 1.5 2.9 0.3 -1.2 I II III IV 3.7 4.6 6.5 4.7 6.0 7.7 10.1 8.9 2.2 2.9 3.4 4.0 3.5 2.6 2.5 2.1 1.2 0.6 0.1 -0.1 -0.2 -1.8 -3.7 -2.5 ANNUAL 4.9 8.2 3.2 2.7 0.5 -2.1 I II III IV 5.6 4.7 4.7 5.4 9.4 6.7 5.5 5.0 3.6 2.0 0.7 -0.4 1.5 2.3 2.2 1.2 -1.1 -0.5 -0.4 -1.3 -3.8 -2.2 -2.4 -4.0 ANNUAL 5.1 6.6 1.5 1.8 -0.9 -3.1 I II III IV 5.0 5.8 6.4 6.2 3.8 7.2 8.2 8.0 -1.1 1.3 1.8 1.7 0.1 -0.5 -0.5 0.3 -2.4 -3.1 -3.1 -2.6 -4.6 -6.0 -6.5 -5.6 ANNUAL 5.9 6.8 0.9 -0.2 -2.8 -5.7 -------------------------------------------------------------------------------------------------See footnotes following Table 6. December 7, 1999 Source: Bureau of Labor Statistics Appendix table 3. 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 1992 1993 1994 1995 1996 I II III IV 98.7 99.5 101.0 100.8 98.0 99.7 101.0 101.3 99.3 100.2 100.0 100.5 98.5 99.7 100.6 101.2 99.5 100.0 100.3 100.1 99.8 100.2 99.7 100.4 ANNUAL 100.0 100.0 100.0 100.0 100.0 100.0 I II III IV 100.7 100.0 100.4 100.2 101.6 101.5 101.7 101.7 100.8 101.5 101.2 101.5 101.3 102.1 102.9 103.6 99.7 99.7 100.0 100.0 100.6 102.1 102.5 103.3 ANNUAL 100.4 101.6 101.2 102.5 99.9 102.1 I II III IV 101.1 102.2 102.1 102.8 102.4 104.1 104.5 105.9 101.3 101.8 102.3 103.0 104.7 105.0 105.6 106.3 100.8 100.5 100.3 100.4 103.6 102.8 103.5 103.3 ANNUAL 102.0 104.2 102.1 105.4 100.6 103.3 I II III IV 103.4 104.8 105.5 105.9 106.3 106.2 106.1 105.7 102.8 101.3 100.6 99.8 106.5 107.5 108.4 109.4 99.9 100.0 100.3 100.7 103.1 102.6 102.7 103.3 ANNUAL 104.9 106.1 101.1 107.9 100.3 102.9 I II III IV 106.4 106.7 108.0 108.8 105.0 105.6 107.0 108.0 98.7 99.0 99.1 99.2 110.3 111.3 112.2 113.4 100.9 100.9 101.2 101.5 103.7 104.3 103.9 104.3 ANNUAL 107.5 106.4 99.0 111.8 101.2 104.1 -------------------------------------------------------------------------------------------------Percent change from previous quarter at annual rate(5) 1992 1993 1994 1995 1996 I II III IV 7.5 3.2 6.1 -0.6 5.2 7.1 5.4 1.3 -2.1 3.8 -0.6 1.9 4.6 4.9 3.9 2.4 2.2 2.0 1.5 -0.9 -2.7 1.7 -2.0 2.9 ANNUAL 4.3 5.1 0.7 4.3 1.7 0.0 I II III IV -0.3 -2.9 1.7 -0.8 1.0 -0.5 0.8 0.1 1.3 2.5 -0.9 0.9 0.5 3.1 3.2 2.6 -1.5 0.0 1.3 -0.1 0.8 6.1 1.4 3.4 ANNUAL 0.4 1.6 1.2 2.5 -0.1 2.1 I II III IV 3.5 4.3 -0.4 3.0 2.7 6.8 1.6 5.7 -0.8 2.4 2.0 2.6 4.5 1.1 2.4 2.4 3.2 -1.1 -0.8 0.2 1.0 -3.1 2.8 -0.5 ANNUAL 1.7 2.6 0.9 2.8 0.6 1.1 I II III IV 2.2 5.6 2.5 1.6 1.6 -0.5 -0.5 -1.5 -0.6 -5.8 -3.0 -3.1 1.1 3.6 3.2 3.8 -1.8 0.5 1.1 1.7 -1.1 -1.9 0.7 2.2 ANNUAL 2.8 1.8 -1.0 2.4 -0.3 -0.4 I II III IV 1.9 1.0 5.1 3.0 -2.6 2.5 5.4 3.6 -4.5 1.5 0.4 0.6 3.5 3.6 3.3 4.4 0.5 -0.1 1.2 1.3 1.6 2.5 -1.7 1.4 ANNUAL 2.5 0.3 -2.1 3.6 0.9 1.1 -------------------------------------------------------------------------------------------------- Percent change from corresponding quarter of previous year 1992 1993 1994 1995 1996 I II III IV 4.4 4.3 4.6 4.0 4.3 5.9 5.3 4.7 -0.1 1.5 0.6 0.7 4.6 4.5 4.4 3.9 2.2 1.8 1.7 1.2 0.2 0.1 -0.3 -0.1 ANNUAL 4.3 5.1 0.7 4.3 1.7 0.0 I II III IV 2.1 0.5 -0.5 -0.6 3.7 1.8 0.7 0.3 1.6 1.3 1.2 0.9 2.9 2.5 2.3 2.3 0.2 -0.2 -0.3 -0.1 0.8 1.9 2.8 2.9 ANNUAL 0.4 1.6 1.2 2.5 -0.1 2.1 I II III IV 0.3 2.2 1.6 2.6 0.8 2.5 2.8 4.2 0.4 0.4 1.1 1.5 3.3 2.8 2.6 2.6 1.1 0.8 0.3 0.4 3.0 0.7 1.0 0.0 ANNUAL 1.7 2.6 0.9 2.8 0.6 1.1 I II III IV 2.3 2.6 3.3 3.0 3.9 2.1 1.5 -0.3 1.6 -0.5 -1.7 -3.1 1.7 2.4 2.6 2.9 -0.9 -0.5 0.0 0.4 -0.5 -0.2 -0.7 0.0 ANNUAL 2.8 1.8 -1.0 2.4 -0.3 -0.4 I II III IV 2.9 1.8 2.4 2.7 -1.3 -0.6 0.9 2.2 -4.1 -2.3 -1.5 -0.5 3.6 3.5 3.6 3.7 1.0 0.8 0.9 0.8 0.6 1.7 1.1 0.9 ANNUAL 2.5 0.3 -2.1 3.6 0.9 1.1 -------------------------------------------------------------------------------------------------See footnotes following Table 6. December 7, 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) Compensation per hour adjusted for changes in consumer prices. 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