TEXT
Table 1. Business sector: Productivity, hourly compensation, unit labor costs,
Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor costs,
Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor costs,
Table 4. Durable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
Table 5. Nondurable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor costs, unit profits,
Appendix Table 1. Business sector: Productivity, hourly compensation, unit labor costs, and prices
Appendix Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor costs, and prices
Appendix Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor costs
Appendix Table 4. Durable manufacturing sector: Productivity, hourly compensation,
Appendix Table 5. Nondurable manufacturing sector: Productivity, hourly compensation,
Appendix Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor costs,
Historical, technical USDL 96-37
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Thursday, February 8, 1996.
PRODUCTIVITY AND COSTS
Third Quarter 1995
The Bureau of Labor Statistics of the U.S. Department of Labor today
reported revised productivity data--as measured by output per hour of all
persons--for the third quarter of 1995. The seasonally-adjusted annual rates
of productivity growth in the third quarter were:
1.2 percent in the business sector, and
1.4 percent in the nonfarm business sector.
In both the business and the nonfarm business sectors, productivity increases
in the third quarter were less than half the second-quarter increases.
In manufacturing, revised productivity increases in the third quarter
were:
5.7 percent in manufacturing,
6.6 percent in durable goods manufacturing, and
4.8 percent in nondurable goods manufacturing.
______________________________________________________________________________
NOTE: BLS has switched to annual-weighted output indexes for computations
underlying its regular Productivity and Costs news releases. In addition, the
productivity and costs data contained in this release incorporate the
following changes to source data: Revised historical output and compensation
data prepared by the Bureau of Economic Analysis of the U.S. Department of
Commerce; revised historical Indexes of Production prepared by the Federal
Reserve Board; and incorporation of the results of the 1994 Hours at Work
Survey. The base year for the indexes is now 1992=100. See pages 5-7 for
further information regarding these revisions.
______________________________________________________________________________
2
______________________________________________________________________________
Table A. Productivity and costs: Revised third-quarter 1995 measures
(Seasonally adjusted annual rates)
______________________________________________________________________________
Real
Hourly hourly Unit
Produc- compen- compen- labor
Sector tivity Output Hours sation sation costs
______________________________________________________________________________
Percent change from preceding quarter
Business 1.2 4.1 2.8 3.9 1.9 2.7
Nonfarm business 1.4 4.4 2.9 3.9 1.8 2.4
Manufacturing 5.7 2.6 -2.9 4.0 1.9 -1.6
Durable 6.6 5.1 -1.5 4.0 1.9 -2.5
Nondurable 4.8 -0.3 -4.9 3.7 1.6 -1.1
______________________________________________________________________________
Percent change from same quarter a year ago
Business 0.8 2.2 1.4 4.0 1.2 3.1
Nonfarm business 1.1 2.5 1.4 4.1 1.4 3.0
Manufacturing 3.8 3.0 -0.8 3.2 0.5 -0.7
Durable 4.5 4.9 0.4 2.6 -0.1 -1.9
Nondurable 3.3 0.7 -2.5 3.9 1.1 0.6
______________________________________________________________________________
The third-quarter productivity increase in manufacturing occurred as
output rose at a 2.6 percent rate and hours fell 2.9 percent. Output and hours
in manufacturing, which includes about 19 percent of U.S. business sector
employment, tend to vary more from quarter to quarter than data for the more
aggregate business and nonfarm business sectors. Third-quarter measures are
summarized in table A and appear in detail in tables 1 through 5.
The data sources and methods used in the preparation of the manufacturing
series differ from those used in preparing the business and nonfarm business
series and these measures are not directly comparable. Output measures for
business and nonfarm business are based on measures of gross domestic product
prepared by the Bureau of Economic Analysis of the U.S. Department of
Commerce. Quarterly output measures for manufacturing reflect independent
indexes of industrial production prepared by the Board of Governors of the
Federal Reserve System. See Technical Notes for further information on data
sources (page 9).
3
Business
From the second quarter to the third quarter of 1995, business sector
productivity increased at a 1.2 percent annual rate. As revised, output rose
4.1 percent, and hours of all persons engaged in the sector increased 2.8
percent (seasonally adjusted annual rates). During the second quarter of
1995, productivity had increased 3.0 percent, as output rose 0.3 percent and
hours fell 2.5 percent (table 1).
Hourly compensation increased 3.9 percent during the third quarter of
1995, down from a 5.6 percent rise in the second quarter. This measure
includes wages and salaries, supplements, employer contributions to employee
benefit plans, and taxes. Unit labor costs rose 2.7 percent in the third
quarter, just slightly more than the 2.5 percent increase posted one quarter
earlier.
Real hourly compensation, which takes into account changes in the Consumer
Price Index for All Urban Consumers (CPI-U), rose 1.9 percent in the third
quarter and 2.1 percent in the second quarter of 1995.
The implicit price deflator for the business sector, which reflects
changes in both unit labor costs and unit nonlabor payments, increased at a
2.6 percent annual rate in the third quarter of 1995, compared with a 2.1
percent increase during the second quarter.
Nonfarm business
Productivity rose 1.4 percent in the nonfarm business sector during the
third quarter of 1995 as output rose 4.4 percent and hours of all persons
increased 2.9 percent. During the second quarter of 1995, productivity had
increased 3.0 percent in the nonfarm business sector, reflecting a gain of 0.5
percent in output coupled with a 2.4 percent decline in hours (table 2).
Hourly compensation increased at a 3.9 percent annual rate in the third
quarter, compared with a 5.4 percent increase one quarter earlier. When the
rise in the CPI-U is taken into account, real hourly compensation rose at a
1.8 percent annual rate in the third quarter. Real hourly compensation has
now posted increases in four consecutive quarters. Unit labor costs increased
2.4 percent in the third quarter of 1995 and 2.3 percent in the second
quarter.
The implicit price deflator for nonfarm business output rose 2.3 percent
in the third quarter, compared with a 1.9 percent rise one quarter earlier.
4
Manufacturing
Productivity increased 5.7 percent in manufacturing in the third quarter
of 1995, as output rose 2.6 percent and hours of all persons fell 2.9 percent
(seasonally adjusted annual rates). Manufacturing productivity has increased
in every quarter since the first quarter of 1991 (when it declined 0.4
percent). In the durable goods industries, productivity grew 6.6 percent in
the third quarter as output rose 5.1 percent and hours fell 1.5 percent. In
the nondurable goods industries, productivity grew 4.8 percent as both output
and hours dropped--0.3 and 4.9 percent, respectively (tables 3, 4, and 5).
Hourly compensation of all manufacturing workers increased 4.0 percent
during the third quarter and 3.5 percent during the second quarter (seasonally
adjusted annual rates). Real hourly compensation increased 1.9 percent when
the increase in the CPI-U is taken into account. This increase in real hourly
compensation was the largest since a similar increase in the first quarter of
1992. During the second quarter, real hourly compensation rose only 0.1
percent.
Unit labor costs fell at a 1.6 percent annual rate in the third quarter of
1995 as the 5.7 percent productivity increase in the manufacturing sector
exceeded the 4.0 percent increase in hourly compensation. These costs fell
0.5 percent in the second quarter of 1995 and have fallen in 7 of the last 8
quarters. In durable goods industries, unit labor costs fell 2.5 percent in
the third quarter of 1995 and have fallen for 8 consecutive quarters. A 1.1
percent decrease in unit labor costs was recorded in nondurable goods
industries in both the second and third quarters.
Nonfinancial Corporations
Third-quarter 1995 measures of productivity and costs also were announced
today for nonfinancial corporations (tables B and 6). Output per all-employee
hour rose at a 5.7 percent annual rate, compared with a 3.7 percent increase
during the second quarter (as revised). Output increased 7.8 percent in the
third quarter of 1995, while hours of all employees increased 2.0 percent, at
annual rates. The third-quarter productivity and output increases in
nonfinancial corporations were the highest since the first quarter of 1986,
when they both increased at a 9.3 percent annual rate. The sector includes
all corporations doing business in the United States, except those classified
as depository institutions, nondepository institutions, security and commodity
brokers, insurance carriers, regulated investment offices, small business
investment offices, and real estate investment trusts.
Hourly compensation increased 4.1 percent in the third quarter; it had
risen 5.6 percent in the second quarter. When the rise in the CPI-U is taken
into account, real hourly compensation increased 2.0 percent in the third
quarter--about the same as the 2.1 percent increase in the second quarter of
1995.
5
______________________________________________________________________________
Table B. Nonfinancial corporations: Third-quarter 1995 productivity and cost
measures
(Seasonally adjusted annual rates)
______________________________________________________________________________
Real
Hourly hourly Unit Implicit
Produc- compen- compen- labor Unit price
Period tivity Output Hours sation sation costs profits deflator
_____________________________________________________________________________
Percent change from preceding quarter
1995 III 5.7 7.8 2.0 4.1 2.0 -1.5 40.9 1.1
_____________________________________________________________________________
Percent change from same quarter a year ago
1995 III 2.1 3.9 1.8 3.8 1.1 1.7 4.1 1.7
______________________________________________________________________________
Unit labor costs for nonfinancial corporations fell 1.5 percent in the
third quarter, after increasing 1.9 percent in the previous quarter. Unit
nonlabor costs fell 5.0 percent in the third quarter, and unit profits rose at
a 40.9 percent annual rate. This was the first increase in unit profits in
calendar year 1995. The implicit price deflator for the output of
nonfinancial corporations rose 1.1 percent in the third quarter, down from the
2.2 percent increase posted one quarter earlier.
Revised Measures
Current and previous measures for the third quarter of 1995 for the
business, nonfarm business, and manufacturing sectors are compared in table C.
The quarterly movements differ from those reported on November 7. These
differences are due to both new information and changes in the way the
measures are constructed. (See new methodologies and data on page 6.)
6
______________________________________________________________________________
Table C. Previous and revised productivity and related measures
Quarterly percent changes at seasonally adjusted annual rates
______________________________________________________________________________
Real
Hourly hourly Unit
Produc- compen- compen- labor
Sector tivity Output Hours sation sation costs
______________________________________________________________________________
Third quarter 1995
Business:
Previous . . . . 2.1 4.9 2.8 3.2 1.1 1.1
Current . . . . . 1.2 4.1 2.8 3.9 1.9 2.7
Nonfarm business:
Previous . . . . 2.0 4.9 2.9 3.1 1.0 1.1
Current . . . . . 1.4 4.4 2.9 3.9 1.8 2.4
Manufacturing:
Previous. . . . . 6.2 3.0 -3.0 3.7 1.7 -2.3
Current . . . . . 5.7 2.6 -2.9 4.0 1.9 -1.6
_____________________________________________________________________________
New methodologies and data
The Bureau of Labor Statistics has switched to annual-weighted output
indexes for computations underlying its Productivity and Costs news releases.
This change parallels the changes made by the Bureau of Economic Analysis,
U.S. Department of Commerce, on January 19, 1996, to replace its constant
dollar series as the featured measure of real gross domestic product (GDP)
with a chain-type, annual-weighted index. Annual and quarterly measures of
output for the business, nonfarm business, and nonfinancial corporate sectors
were computed by BEA using the same conventions used to compute GDP. For its
historical annual data on manufacturing output, BLS is now using the annual-
weighted measure of "sectoral output" developed some years ago for its
manufacturing multifactor productivity measures. This output series replaces
the series on constant dollar gross product originating previously used.
Quarterly data on manufacturing output, and annual data for the most recent
one or two years, continue to be based on movements in the index of industrial
production prepared monthly by the Board of Governors of the Federal Reserve
System.
7
In addition, BLS business and nonfarm business output measures no longer
exclude the statistical discrepancy--the measure of the difference between GDP
as measured on the product side and on the income side. The product side adds
up the value of goods and services produced while the income side adds up the
disposition of the income generated by production in the form of wages,
salaries, supplements, profits, net interest, and business taxes. Although
conceptually equal, the two sides differ because they are measured using
different data sources. The BLS measure will now be based on the product side
rather than the income side. It has been determined that using the income
side definition resulted in larger revisions of BLS productivity data between
the preliminary and revised news releases than a product side definition would
have.
The comprehensive revisions made to the National Income and Product
Accounts (NIPAs) by the Bureau of Economic Analysis on January 19, 1996, are
reflected in the data in this news release. As a result of these
comprehensive revisions, the productivity and cost measures included in this
release incorporate new information on current dollar output levels, employee
compensation, and employment trends. Appendix tables 1, 2, and 6 show revised
annual productivity and related indexes from 1959 forward for the business,
nonfarm business, and nonfinancial corporate sectors. Currently, there is no
projected date for the availability of productivity and costs measures for the
business and nonfarm business sectors for the 1947-58 period. For further
information about the switch to annual-weighted indexes and the switch to the
product side, see Edwin Dean, Michael Harper, and Phyllis Flohr Otto,
"Improvements to the quarterly productivity measures," Monthly Labor Review,
October 1995, pp. 27-32. Appendix tables 3-5 show revised annual productivity
and related indexes from 1949 forward for the manufacturing sectors. For a
discussion of the BLS manufacturing "sectoral output" measures, see William
Gullickson, "Measurement of productivity growth in U.S. manufacturing,"
Monthly Labor Review, July 1995, pp. 13-28.
Quarterly measures of output from 1991 forward for the manufacturing
sectors, as well as the annual change for the year 1994, also incorporate
revisions to the Federal Reserve Board's index of industrial production which
were announced on November 30, 1995. The indexes of industrial production
were revised back to January 1991 to incorporate additional or updated monthly
source data and new seasonal factors. (See Federal Reserve Statistical
Release G.17 (419).)
In addition, the productivity and cost measures were revised to reflect
the results of the 1994 Hours at Work Survey (HWS), which are now available.
This survey is used to adjust the number of hours for which private nonfarm
employees are paid, as reported in the BLS Current Establishment Survey, to
hours at the workplace. For 1994, these new results show that hours of all
persons increased slightly more than had originally been reported. In the
nonfarm business sector, BLS estimates that hours were about 0.1 percentage
point higher due to the incorporation of the 1994 survey.
The long-term rates of productivity change have been affected by all of
the above revisions. The compound annual rate of growth of business output
per hour for 1979-94 is 1.2 percent (unchanged from the previous measure).
For the same period, output per hour grew at a 1.0 percent rate for nonfarm
business (down from 1.1 percent) and at a 1.8 percent rate for nonfinancial
corporations (up from 1.7 percent). In the manufacturing sector, output per
hour grew at a 2.8 percent rate (up from 2.5 percent).
8
Next release date
The next release of Productivity and Costs is scheduled for 10:00 AM EST,
Wednesday, March 6, 1996. Preliminary fourth-quarter and annual 1995 measures
will be released at that time. Future release dates may be announced at that
time.
9
TECHNICAL NOTES
Labor Hours: The primary source of by BLS. Durables include the
hours and employment data is the BLS following 2-digit SIC industries:
Current Employment Statistics (CES) Primary metal industries; fabricated
program, which provides monthly survey metal products; nonelectrical
data on total employment and average machinery; industrial and commercial
weekly paid hours of production and machinery and computer equipment;
nonsupervisory workers in electronic and other electrical
nonagricultural establishments. Jobs equipment; transportation equipment;
rather than persons are counted. instruments; lumber and lumber prod-
Weekly paid hours are adjusted to ucts; furniture and fixtures; stone,
hours at work using the BLS Hours at clay, and glass and concrete products;
Work survey, conducted for this and miscellaneous manufactures. Non-
purpose. durables include: Food and kindred
Data from the BLS Current products, tobacco products, textile
Population Survey (CPS) are used for mill products, apparel products, paper
farm labor; in the nonfarm sector, the and allied products, printing and
National Income and Product Accounts publishing, chemicals and chemical
(NIPA) prepared by the Bureau of Eco- products, petroleum refining and
nomic Analysis (BEA) of the Department related industries, rubber and plastic
of Commerce and the CPS are used to products, and leather and leather
measure labor input for government products.
enterprises, proprietors, and unpaid Nonfinancial corporate output is
family workers. an annual-weighted index constructed
by excluding from GDP the following
Output: Business sector output is an outputs: General government; nonprofit
annual-weighted index constructed institutions; employees of private
after excluding from gross domestic households; the rental value of owner-
product (GDP) the following outputs: occupied dwellings; unincorporated
General government, nonprofit business; and those corporations which
institutions, paid employees of are depository institutions,
private households, and the rental nondepository institutions, security
value of owner-occupied dwellings. and commodity brokers, insurance
Corresponding exclusions also are made carriers, regulated investment
in labor inputs. Business output offices, small business investment
accounted for about 76 percent of the offices, and real estate investment
value of GDP in 1992. Nonfarm trusts. Nonfinancial corporations
business, which also excludes farming, accounted for about 52 percent of the
accounted for about 75 percent of GDP value of GDP in 1992.
in 1992.
Annual manufacturing indexes are Productivity: These productivity mea-
constructed by deflating current- sures describe the relationship
dollar industry value of production between real output and the labor time
data from the U.S. Bureau of the involved in its production. They show
Census with deflators from the BEA. the changes from period to period in
These deflators are based on data from the amount of goods and services pro-
the BLS producer price program and duced per hour. Although these
other sources. The industry shipments measures relate output to hours at
are aggregated using annual weights, work of all persons engaged in a
and intrasector transactions are sector, they do not measure the
removed. Quarterly manufacturing specific contribution of labor,
output measures are based on the index capital, or any other factor of
of industrial production prepared production. Rather, they reflect the
monthly by the Board of Governors of joint effects of many influences,
the Federal Reserve System adjusted to including changes in technology;
be consistent with annual indexes of capital investment; level of output;
manufacturing sector output prepared utilization of capacity, energy, and
10
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Information in this release will
Table 1. Business sector: Productivity, hourly compensation, unit labor costs,
and prices, seasonally adjusted
Real
Year Output per Hours Compensa- compensa- Unit Unit non- Implicit
and hour of of all tion per tion per labor labor pay- price
quarter all persons Output persons hour (1) hour (2) costs ments (3) deflator (4)
---------------------------------------------------------------------------------------------------------
Indexes 1992=100
1993 I r100.2 r101.4 r101.3 r101.6 r99.6 r101.4 r102.2 r101.7
II r99.8 r102.0 r102.2 r102.5 r99.7 r102.6 r101.8 r102.3
III r100.1 r102.8 r102.6 r103.0 r99.8 r102.9 r102.4 r102.7
IV r100.8 r104.3 r103.5 r103.3 r99.2 r102.5 r104.9 r103.3
ANNUAL r100.2 r102.6 r102.4 r102.6 r99.6 r102.4 r102.8 r102.5
1994 I r100.3 r104.8 r104.5 r104.2 r99.6 r103.8 r104.1 r103.9
II r100.7 r106.5 r105.8 r104.5 r99.3 r103.9 r105.4 r104.4
III r101.4 r107.6 r106.2 r104.9 r98.8 r103.5 r107.9 r105.1
IV r101.5 r108.7 r107.1 r105.7 r99.0 r104.1 r108.3 r105.6
ANNUAL r101.0 r106.9 r105.9 r104.8 r99.2 r103.8 r106.5 r104.8
1995 I r101.1 r108.8 r107.6 r106.6 r99.0 r105.4 r108.0 r106.3
II r101.9 r108.9 r106.9 r108.0 r99.6 r106.0 r108.4 r106.9
III r102.2 r110.0 r107.7 r109.1 r100.0 r106.8 r109.0 r107.6
---------------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
1993 I r-3.7 r-1.1 r2.6 r1.6 r-1.4 r5.4 r-0.1 r3.4
II r-1.3 r2.2 3.6 r3.4 r0.3 r4.8 r-1.5 r2.5
III r1.3 r3.0 1.7 r2.2 r0.5 r0.9 r2.2 r1.4
IV r2.7 r6.3 3.5 r1.1 r-2.1 r-1.6 r10.1 r2.4
ANNUAL r0.2 r2.6 2.4 r2.6 r-0.4 r2.4 r2.8 r2.5
1994 I r-1.9 r1.8 r3.7 r3.4 r1.3 r5.4 r-2.8 r2.4
II r1.4 r6.7 r5.3 r1.5 r-1.0 r0.1 r4.9 r1.8
III r2.8 r4.1 1.3 r1.5 r-2.0 r-1.3 r10.0 r2.6
IV r0.7 r4.0 3.3 r2.9 r0.7 r2.3 r1.5 r2.0
ANNUAL r0.7 r4.2 3.4 r2.2 r-0.4 r1.4 r3.5 r2.2
1995 I r-1.6 r0.6 2.2 r3.4 r0.3 r5.0 r-1.0 r2.8
II r3.0 r0.3 -2.5 r5.6 r2.1 r2.5 r1.2 r2.1
III r1.2 r4.1 2.8 r3.9 r1.9 r2.7 r2.3 r2.6
---------------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
1993 I r0.9 r2.6 1.8 r3.0 r-0.1 r2.2 r3.0 r2.5
II r-0.1 r2.4 2.5 r3.0 r-0.2 r3.1 r1.8 r2.6
III r0.4 r3.0 r2.5 r2.3 r-0.5 r1.9 r3.8 r2.6
IV r-0.3 r2.6 2.9 r2.0 r-0.7 r2.3 r2.6 r2.4
ANNUAL r0.2 r2.6 2.4 r2.6 r-0.4 r2.4 r2.8 r2.5
1994 I r0.2 r3.3 3.1 r2.5 r0.0 r2.3 r1.9 r2.2
II r0.8 r4.4 r3.6 r2.0 r-0.4 r1.2 r3.5 r2.0
III r1.2 r4.7 r3.5 r1.9 r-1.0 r0.6 r5.4 r2.3
IV r0.7 r4.2 3.4 r2.3 r-0.3 r1.6 r3.3 r2.2
ANNUAL r0.7 r4.2 3.4 r2.2 r-0.4 r1.4 r3.5 r2.2
1995 I r0.8 r3.8 3.0 r2.3 r-0.5 r1.5 r3.8 r2.3
II r1.2 r2.3 r1.1 r3.3 r0.3 r2.1 r2.9 r2.4
III r0.8 r2.2 1.4 r4.0 r1.2 r3.1 r1.0 r2.4
---------------------------------------------------------------------------------------------------------
See footnotes following table 6. February 8, 1996
r=revised Source: Bureau of Labor Statistics
Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor costs,
and prices, seasonally adjusted
Real
Year Output per Hours Compensa- compensa- Unit Unit non- Implicit
and hour of of all tion per tion per labor labor pay- price
quarter all persons Output persons hour (1) hour (2) costs ments (3) deflator(4)
---------------------------------------------------------------------------------------------------------
Indexes 1992=100
1993 I r100.1 r101.6 r101.5 r101.4 r99.4 r101.3 r102.8 r101.8
II r99.7 r102.2 r102.5 r102.1 r99.3 r102.4 r102.2 r102.4
III r100.2 r103.2 r103.0 r102.6 r99.4 r102.4 r103.1 r102.7
IV r100.6 r104.6 r103.9 r102.9 r98.9 r102.3 r105.3 r103.3
ANNUAL r100.2 r102.9 r102.7 r102.3 r99.3 r102.1 r103.4 r102.5
1994 I r100.0 r104.8 r104.8 r103.7 r99.1 r103.7 r104.3 r103.9
II r100.4 r106.6 r106.1 r104.3 r99.0 r103.8 r105.8 r104.5
III r101.1 r107.7 r106.5 r104.6 r98.5 r103.4 r108.6 r105.3
IV r101.3 r108.8 r107.4 r105.4 r98.7 r104.1 r108.9 r105.7
ANNUAL r100.7 r106.9 r106.2 r104.5 r98.9 r103.8 r106.9 r104.9
1995 I r101.0 r109.0 r107.9 r106.4 r98.9 r105.3 r108.7 r106.5
II r101.8 r109.1 r107.2 r107.8 r99.3 r105.9 r109.0 r107.0
III r102.1 r110.3 r108.0 r108.8 r99.8 r106.5 r109.6 r107.6
---------------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
1993 I r-3.9 r-0.9 r3.1 r1.0 r-2.0 r5.1 r1.5 r3.8
II r-1.7 r2.4 4.2 r2.7 r-0.3 r4.5 r-2.3 r2.1
III r2.1 r4.1 r2.0 r2.0 r0.3 r-0.1 r3.7 r1.2
IV r1.6 r5.3 r3.6 r1.1 r-2.1 r-0.5 r8.6 r2.6
ANNUAL r0.2 r2.9 2.7 r2.3 r-0.7 r2.1 r3.4 r2.5
1994 I r-2.5 r0.9 r3.5 r3.3 r1.1 r5.9 r-3.6 r2.5
II r1.9 r6.8 r4.8 r2.1 r-0.4 r0.2 r6.0 r2.2
III r2.6 r4.2 1.6 r1.2 r-2.3 r-1.4 r11.0 r2.9
IV r0.9 r4.2 3.3 r3.3 r1.0 r2.4 r0.9 r1.8
ANNUAL r0.5 r4.0 r3.4 r2.2 r-0.4 r1.6 r3.5 r2.3
1995 I r-1.1 r0.8 r1.9 r3.7 r0.6 r4.9 r-0.5 r2.9
II r3.0 r0.5 -2.4 r5.4 r2.0 r2.3 r1.1 r1.9
III r1.4 r4.4 2.9 r3.9 r1.8 r2.4 r2.0 r2.3
---------------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
1993 I r0.9 r2.8 1.9 r2.9 r-0.2 r2.0 r3.6 r2.6
II r-0.3 r2.6 2.9 r2.6 r-0.6 r2.8 r2.2 r2.6
III r0.6 r3.5 2.9 r1.9 r-0.8 r1.4 r4.8 r2.6
IV r-0.5 r2.7 3.2 r1.7 r-1.0 r2.2 2.8 r2.4
ANNUAL r0.2 r2.9 2.7 r2.3 r-0.7 r2.1 r3.4 r2.5
1994 I r-0.2 r3.2 3.3 r2.3 r-0.3 r2.4 r1.5 r2.1
II r0.8 r4.3 r3.5 r2.1 r-0.3 r1.3 r3.6 r2.1
III r0.9 r4.3 r3.4 r1.9 r-0.9 r1.0 r5.4 r2.5
IV r0.7 r4.0 3.3 r2.5 r-0.2 r1.8 r3.4 r2.3
ANNUAL r0.5 r4.0 r3.4 r2.2 r-0.4 r1.6 r3.5 r2.3
1995 I r1.1 r4.0 2.9 r2.6 r-0.3 r1.5 r4.2 r2.4
II r1.3 r2.4 1.1 r3.4 r0.3 r2.0 r3.0 r2.4
III r1.1 r2.5 1.4 r4.1 r1.4 r3.0 r0.8 r2.2
---------------------------------------------------------------------------------------------------------
See footnotes following table 6. February 8, 1996
r=revised Source: Bureau of Labor Statistics
Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
Real
Year Output per Hours Compensa- compensa- Unit
and hour of of all tion per tion per labor
quarter all persons Output persons hour(1) hour(2) costs
--------------------------------------------------------------------------------------------------
Indexes 1992=100
1993 I r101.5 r102.5 r101.0 r101.1 r99.1 r99.6
II r101.6 r102.8 r101.2 r102.0 r99.2 r100.4
III r102.1 r103.6 r101.5 r102.7 r99.5 r100.6
IV r102.9 r105.1 r102.1 r103.5 r99.4 r100.5
ANNUAL r102.1 r103.5 r101.4 r102.4 r99.4 r100.3
1994 I r104.7 r107.3 r102.5 r104.3 r99.7 r99.7
II r106.1 r109.5 r103.2 r104.7 r99.5 r98.7
III r106.9 r110.9 r103.8 r105.6 r99.5 r98.8
IV r107.8 r113.0 r104.8 r106.4 r99.7 r98.7
ANNUAL r106.3 r110.2 r103.6 r105.3 r99.7 r99.0
1995 I r108.4 r114.1 r105.3 r107.0 r99.4 r98.7
II r109.5 r113.5 r103.7 r107.9 r99.5 r98.6
III r111.0 r114.2 r102.9 r109.0 r99.9 r98.2
--------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
1993 I r2.2 r4.6 r2.3 r0.8 r-2.2 r-1.4
II r0.4 r1.1 0.8 r3.4 r0.4 r3.1
III r1.8 r3.0 1.2 r2.7 r1.0 r0.9
IV r3.4 r5.9 r2.4 r3.2 r-0.1 r-0.2
ANNUAL r2.1 r3.5 1.4 r2.4 r-0.6 r0.3
1994 I r6.9 r8.8 r1.8 r3.4 r1.3 r-3.2
II r5.7 r8.5 r2.6 r1.4 r-1.1 r-4.0
III r3.0 r5.1 r2.1 r3.6 r0.0 r0.6
IV r3.5 r7.9 4.2 r3.1 r0.8 r-0.4
ANNUAL r4.2 r6.5 r2.2 r2.8 r0.3 r-1.3
1995 I r2.2 r3.9 1.6 r2.1 r-0.9 r-0.1
II r4.0 r-2.1 -5.9 r3.5 r0.1 r-0.5
III r5.7 r2.6 r-2.9 r4.0 r1.9 r-1.6
--------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
1993 I r2.9 r4.3 1.3 r2.7 r-0.5 -0.3
II r2.1 r3.0 0.9 r2.4 r-0.8 r0.3
III r1.7 r3.1 1.4 r2.2 r-0.6 r0.5
IV r1.9 r3.6 1.7 r2.5 r-0.2 r0.6
ANNUAL r2.1 r3.5 1.4 r2.4 r-0.6 r0.3
1994 I r3.1 r4.7 r1.5 r3.2 r0.7 r0.1
II r4.4 r6.5 r2.0 r2.7 r0.3 r-1.7
III r4.7 r7.1 r2.2 r2.9 r0.0 r-1.7
IV r4.7 r7.6 r2.7 r2.9 r0.2 r-1.8
ANNUAL r4.2 r6.5 r2.2 r2.8 r0.3 r-1.3
1995 I r3.6 r6.3 r2.6 r2.5 r-0.3 r-1.0
II r3.2 r3.6 0.4 r3.1 r0.0 r-0.1
III r3.8 r3.0 -0.8 3.2 0.5 r-0.7
--------------------------------------------------------------------------------------------------
See footnotes following table 6. February 8, 1996
r=revised Source: Bureau of Labor Statistics
Table 4. Durable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
Real
Year Output per Hours Compensa- compensa- Unit
and hour of of all tion per tion per labor
quarter all persons Output persons hour(1) hour(2) costs
--------------------------------------------------------------------------------------------------
Indexes 1992=100
1993 I r102.3 r103.3 r101.0 r101.0 r99.0 r98.7
II r102.8 r104.0 r101.1 r101.8 r99.0 r99.0
III r103.0 r104.8 r101.7 r102.4 r99.2 r99.4
IV r104.9 r107.5 r102.5 r103.3 99.3 r98.5
ANNUAL r103.4 r104.9 r101.5 r102.2 r99.3 r98.9
1994 I r106.8 r110.4 r103.3 r104.2 r99.6 r97.5
II r108.2 r112.6 r104.1 r104.5 r99.3 r96.6
III r109.4 r114.8 r104.9 r105.4 r99.2 r96.3
IV r110.6 r117.5 r106.3 r106.0 r99.3 r95.9
ANNUAL r108.7 r113.8 r104.7 r105.0 r99.4 r96.6
1995 I r111.8 r119.5 r106.9 r106.4 r98.9 r95.2
II r112.5 r119.0 r105.7 r107.0 r98.6 r95.1
III r114.3 r120.4 r105.3 r108.1 r99.1 r94.5
--------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
1993 I r3.6 r6.3 r2.6 r0.8 r-2.2 r-2.7
II r2.0 r2.4 0.4 r3.2 r0.2 r1.2
III r0.7 r3.4 r2.6 r2.5 r0.8 r1.7
IV r7.3 r10.7 r3.1 r3.6 r0.4 r-3.5
ANNUAL r3.4 r4.9 1.5 r2.2 r-0.7 r-1.1
1994 I r7.6 r11.0 r3.1 r3.4 r1.2 r-4.0
II r5.2 r8.6 r3.2 r1.2 r-1.4 r-3.8
III r4.5 7.8 r3.2 r3.4 r-0.2 r-1.0
IV r4.3 r9.9 5.4 r2.4 r0.2 r-1.8
ANNUAL r5.2 8.5 r3.2 r2.7 r0.1 r-2.3
1995 I r4.5 r7.0 2.3 r1.4 r-1.7 r-3.0
II r2.7 r-1.9 r-4.4 r2.5 r-0.9 r-0.2
III r6.6 r5.1 r-1.5 r4.0 r1.9 r-2.5
--------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
1993 I r4.6 r5.7 1.0 r2.5 r-0.6 r-2.0
II r3.1 r4.1 0.9 r2.1 r-1.0 r-1.0
III r2.5 r4.3 1.8 r1.9 r-0.9 r-0.6
IV r3.4 r5.6 2.2 r2.5 r-0.2 r-0.8
ANNUAL r3.4 r4.9 1.5 r2.2 r-0.7 r-1.1
1994 I r4.4 r6.8 r2.3 r3.2 r0.6 r-1.2
II r5.2 r8.4 r3.0 r2.7 r0.2 r-2.4
III r6.2 r9.5 r3.2 r2.9 r0.0 r-3.1
IV r5.4 r9.3 r3.7 r2.6 r0.0 r-2.7
ANNUAL r5.2 8.5 r3.2 r2.7 r0.1 r-2.3
1995 I r4.6 r8.3 r3.5 2.1 -0.8 r-2.4
II r4.0 r5.6 1.5 r2.4 r-0.6 r-1.5
III r4.5 r4.9 r0.4 2.6 -0.1 r-1.9
--------------------------------------------------------------------------------------------------
See footnotes following table 6. February 8, 1996
r=revised Source: Bureau of Labor Statistics
Table 5. Nondurable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
Real
Year Output per Hours Compensa- compensa- Unit
and hour of of all tion per tion per labor
quarter all persons Output persons hour(1) hour(2) costs
--------------------------------------------------------------------------------------------------
Indexes 1992=100
1993 I r100.8 r101.8 r101.0 r101.3 r99.3 r100.5
II r100.5 r101.8 r101.3 r102.3 r99.5 r101.8
III r101.4 r102.5 r101.1 r103.0 r99.8 r101.6
IV r101.2 r102.7 r101.5 r103.6 r99.6 r102.4
ANNUAL r101.0 r102.2 r101.2 r102.6 r99.6 r101.6
1994 I r102.7 r104.3 r101.5 r104.4 r99.8 r101.6
II r104.3 r106.3 r102.0 r104.9 r99.6 r100.6
III r104.6 r106.9 r102.2 r105.8 r99.6 r101.2
IV r105.3 r108.3 r102.8 r106.8 r100.0 r101.5
ANNUAL r104.2 r106.5 r102.2 r105.5 r99.8 r101.2
1995 I r105.3 r108.4 r103.0 r107.6 r100.0 r102.3
II r106.8 r107.8 r100.9 r108.9 r100.4 r102.0
III r108.0 r107.7 r99.6 r109.9 r100.8 r101.7
--------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
1993 I r1.0 r2.9 1.9 r0.8 r-2.2 r-0.3
II -1.3 -0.1 1.2 r3.9 r0.9 r5.3
III r3.5 r2.8 -0.7 r2.8 r1.1 r-0.6
IV -0.7 r0.7 1.5 r2.3 r-0.9 r3.1
ANNUAL r1.0 r2.2 1.2 r2.6 r-0.4 r1.6
1994 I r6.3 r6.4 0.1 r3.2 r1.0 r-3.0
II r6.0 r8.1 1.9 r1.7 r-0.9 r-4.1
III r1.3 r2.0 0.7 r3.7 r0.1 r2.3
IV r2.7 r5.4 2.6 r3.9 r1.6 r1.2
ANNUAL r3.2 r4.1 r0.9 r2.8 r0.2 -0.4
1995 I r-0.1 r0.6 0.7 r3.1 r0.0 r3.2
II r5.9 r-2.5 -7.9 r4.8 r1.3 r-1.1
III r4.8 r-0.3 -4.9 r3.7 r1.6 r-1.1
--------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
1993 I r1.4 r3.0 r1.7 r2.9 r-0.2 r1.6
II r1.2 r2.2 1.0 r2.8 r-0.4 r1.5
III r1.1 r2.1 1.0 r2.5 r-0.3 r1.5
IV r0.6 r1.6 1.0 r2.4 r-0.3 r1.8
ANNUAL r1.0 r2.2 1.2 r2.6 r-0.4 r1.6
1994 I r1.9 r2.4 r0.5 r3.0 r0.5 r1.1
II r3.7 r4.4 0.7 r2.5 r0.1 r-1.2
III r3.2 r4.3 r1.0 r2.7 r-0.2 r-0.5
IV r4.1 r5.4 1.3 r3.1 r0.5 r-0.9
ANNUAL r3.2 r4.1 r0.9 r2.8 r0.2 -0.4
1995 I r2.5 r4.0 1.5 r3.1 r0.2 r0.6
II r2.4 r1.3 -1.1 r3.9 r0.8 r1.4
III r3.3 r0.7 -2.5 r3.9 1.1 r0.6
--------------------------------------------------------------------------------------------------
See footnotes following table 6. February 8, 1996
r=revised Source: Bureau of Labor Statistics
Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor costs, unit profits,
and prices, seasonally adjusted
Output Hourly Real Unit Total Unit Implicit
Year per all- compen- hourly Unit non- unit pro- price
and employee Employee sation compen- labor labor cost fits deflator
quarter hour Output hours (1) sation(2) costs cost(6) (7) (8) (4)
-----------------------------------------------------------------------------------------------------------
Indexes 1992=100
1993 I r100.1 r101.3 r101.1 r101.4 r99.4 r101.3 r100.7 r101.1 r102.9 r101.2
II r101.0 r102.9 r101.9 r101.9 r99.2 r100.9 r100.0 r100.7 r111.5 r101.5
III r101.5 r104.2 r102.6 r102.5 r99.3 r100.9 r99.8 r100.6 r115.6 r101.8
IV r102.4 r106.1 r103.6 r102.8 r98.7 r100.4 r99.2 r100.1 r128.5 r102.3
ANNUAL r101.3 r103.6 r102.2 r102.2 r99.2 r100.9 r99.9 r100.6 r114.8 r101.7
1994 I r102.4 r107.2 r104.7 r103.3 r98.8 r100.9 r102.3 r101.3 r120.8 r102.8
II r102.6 r108.9 r106.2 r103.8 r98.6 r101.2 r98.7 r100.5 r134.5 r103.1
III r102.6 r109.6 r106.9 r104.2 r98.1 r101.6 r99.3 r100.9 r136.5 r103.7
IV r103.2 r111.6 r108.1 r105.2 r98.5 r101.9 r98.2 r100.9 r141.3 r104.0
ANNUAL r102.7 r109.3 r106.4 r104.2 r98.6 r101.4 r99.6 r100.9 r133.4 r103.4
1995 I r102.3 r111.3 r108.8 r105.6 r98.1 r103.2 r100.0 r102.3 r131.0 r104.5
II r103.2 r111.8 r108.3 r107.0 r98.6 r103.7 r101.2 r103.0 r130.5 r105.1
III 104.7 113.9 108.8 108.1 99.1 103.3 99.9 102.4 142.2 105.4
-----------------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
1993 I r-4.8 r-2.9 2.0 r0.8 r-2.2 r5.8 r7.8 r6.4 r-24.5 r3.4
II r3.6 r6.6 r2.9 r2.2 r-0.8 r-1.4 r-2.7 r-1.7 r38.0 r1.0
III r2.1 r5.0 r2.8 r2.2 r0.5 r0.1 r-1.0 r-0.2 r15.4 r1.1
IV r3.2 r7.5 r4.1 r1.0 r-2.2 r-2.1 r-2.2 r-2.2 r52.4 r1.9
ANNUAL r1.3 r3.6 2.2 r2.2 r-0.8 r0.9 r-0.1 r0.6 r14.8 r1.7
1994 I r0.1 r4.2 r4.1 r2.2 r0.1 r2.2 r13.2 r5.0 r-21.8 2.2
II r0.9 r6.8 r5.9 r1.8 r-0.7 r0.9 r-13.4 r-3.2 r53.6 r1.2
III r-0.2 r2.5 r2.7 r1.4 r-2.1 r1.5 r2.3 r1.7 r6.3 r2.2
IV r2.6 r7.5 4.8 r4.0 r1.7 r1.4 r-4.4 r-0.2 r14.8 r1.3
ANNUAL r1.4 r5.5 r4.1 r1.9 -0.6 r0.5 r-0.3 r0.3 r16.2 r1.7
1995 I r-3.5 r-1.1 r2.5 r1.4 r-1.6 r5.1 r7.9 r5.9 r-26.1 r2.1
II r3.7 r1.6 r-2.0 r5.6 r2.1 r1.9 r4.7 r2.6 r-1.6 r2.2
III 5.7 7.8 2.0 4.1 2.0 -1.5 -5.0 -2.5 40.9 1.1
-----------------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
1993 I r1.0 r2.7 r1.7 r2.9 r-0.3 r1.8 r0.3 r1.4 r5.6 r1.7
II r1.6 r3.7 2.0 r2.3 r-0.8 r0.7 r0.2 r0.6 r13.8 r1.6
III r1.4 r4.0 r2.6 r1.8 r-0.9 r0.5 r-1.2 r0.0 r23.2 r1.7
IV r1.0 r4.0 r2.9 r1.5 r-1.2 r0.6 r0.4 r0.5 r16.3 r1.8
ANNUAL r1.3 r3.6 2.2 r2.2 r-0.8 r0.9 r-0.1 r0.6 r14.8 r1.7
1994 I r2.2 r5.8 r3.5 r1.9 r-0.6 r-0.3 r1.6 r0.2 r17.4 r1.5
II r1.6 r5.9 r4.2 r1.8 r-0.6 r0.3 r-1.3 r-0.2 r20.6 r1.6
III r1.0 r5.2 r4.2 r1.6 r-1.2 r0.6 r-0.5 0.3 r18.1 r1.9
IV r0.8 r5.2 r4.4 r2.4 r-0.3 r1.5 r-1.0 r0.8 r10.0 r1.7
ANNUAL r1.4 r5.5 r4.1 r1.9 -0.6 r0.5 r-0.3 r0.3 r16.2 r1.7
1995 I r-0.1 r3.9 r4.0 r2.2 r-0.7 r2.2 r-2.2 r1.0 r8.4 r1.7
II r0.6 r2.6 2.0 r3.1 r0.0 r2.5 r2.5 r2.5 r-3.0 r1.9
III 2.1 3.9 1.8 3.8 1.1 1.7 0.6 1.4 4.1 1.7
-----------------------------------------------------------------------------------------------------------
See footnotes following table 6. February 8, 1996
r=revised Source: Bureau of Labor Statistics
SOURCES: Output data are from the Bureau of Economic Analysis and the Census Bureau of the U.S. Department of Commerce; the
Bureau of Labor Statistics, U.S. Department of Labor; and the Federal Reserve Board. Compensation and hours data are from the
Bureau of Labor Statistics and the Bureau of Economic Analysis.
RELIABILITY: Productivity and cost measures are regularly revised as more complete information becomes available. The measures
are first published 30 days after the close of the reference period; revisions appear 30 days later, and second revisions after an
additional 60 days.
Footnotes, Tables 1-6
(1) Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Except for
nonfinancial corporations, where there are no self-employed, data also include an estimate of wages, salaries, and
supplemental payments for the self-employed.
(2) Compensation per hour adjusted for changes in the Consumer Price Index for All Urban Consumers.
(3) Unit nonlabor payments include profits, capital consumption allowances, interest, rental income of persons, and indirect
taxes.
(4) Current dollar output divided by the output index.
(5) Quarterly changes: Percent change compounded at annual rate from the original data rather than index numbers. Annual
changes: Percent change between annual average levels.
(6) Unit nonlabor cost includes capital consumption allowances, interest, rental income of persons, and indirect taxes. For
nonfinancial corporations, rental income of persons is zero by definition.
(7) Total unit cost is the sum of unit labor and nonlabor costs.
(8) Unit profits include corporate profits with inventory valuation and capital consumption adjustments.
Appendix Table 1. Business sector: Productivity, hourly compensation, unit labor costs, and prices
Indexes 1992=100
Real
Output per Hours Compensa- compensa- Unit Unit non- Implicit
hour of of all tion per tion per labor labor pay- price
Year all persons Output persons hour(1) hour(2) costs ments(3) deflator(4)
-------------------------------------------------------------------------------------------------
1959 49.8 33.8 67.8 12.9 62.1 25.9 24.9 25.5
1960 50.5 34.3 67.9 13.4 63.7 26.6 24.5 25.8
1961 52.2 34.9 66.8 14.0 65.5 26.7 25.0 26.1
1962 54.8 37.1 67.8 14.6 67.9 26.7 25.7 26.4
1963 56.9 38.8 68.2 15.2 69.6 26.7 26.3 26.5
1964 59.6 41.3 69.2 16.0 72.3 26.8 26.9 26.8
1965 61.8 44.2 71.4 16.6 73.9 26.8 28.1 27.3
1966 64.4 47.1 73.1 17.7 76.8 27.5 28.8 28.0
1967 65.9 48.0 72.9 18.7 78.7 28.4 29.4 28.8
1968 68.2 50.4 73.9 20.3 81.7 29.7 30.2 29.9
1969 68.7 52.0 75.7 21.7 83.1 31.7 30.2 31.1
1970 69.8 51.8 74.3 23.4 84.6 33.5 30.8 32.6
1971 72.7 53.8 74.0 24.9 86.2 34.2 33.6 34.0
1972 75.2 57.4 76.3 26.5 88.9 35.2 35.1 35.2
1973 77.6 61.3 79.0 28.8 90.9 37.1 36.9 37.0
1974 76.6 60.6 79.1 31.6 89.9 41.2 38.7 40.4
1975 79.0 59.9 75.8 34.8 90.7 44.1 44.7 44.3
1976 82.2 64.0 77.9 38.0 93.6 46.2 47.2 46.6
1977 83.8 67.8 80.9 41.0 95.0 48.9 49.9 49.3
1978 84.5 71.6 84.8 44.7 96.3 53.0 53.4 53.1
1979 84.3 73.8 87.5 49.1 94.9 58.3 56.6 57.7
1980 84.1 72.9 86.8 54.4 92.7 64.7 59.5 62.9
1981 85.8 74.9 87.3 59.6 92.0 69.5 67.0 68.6
1982 85.2 72.6 85.2 64.1 93.1 75.2 67.9 72.6
1983 88.0 76.2 86.6 66.7 93.9 75.7 74.4 75.3
1984 90.2 82.5 91.5 69.6 94.0 77.2 78.6 77.7
1985 91.9 85.9 93.4 73.1 95.3 79.5 80.4 79.9
1986 94.2 88.6 94.0 76.9 98.4 81.6 81.7 81.6
1987 94.1 91.1 96.8 79.9 98.6 84.9 81.9 83.8
1988 94.6 94.6 100.0 83.5 99.0 88.2 84.2 86.8
1989 95.4 97.8 102.5 85.8 97.1 89.9 91.4 90.5
1990 96.2 98.7 102.6 90.8 97.4 94.3 93.5 94.0
1991 96.7 96.9 100.3 95.1 97.9 98.3 96.5 97.7
1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
1993 100.2 102.6 102.4 102.6 99.6 102.4 102.8 102.5
1994 101.0 106.9 105.9 104.8 99.2 103.8 106.5 104.8
-------------------------------------------------------------------------------------------------
See footnotes following table 6, above. February 8, 1996
Source: Bureau of Labor Statistics
Appendix Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor costs, and prices
Indexes 1992=100
Real
Output per Hours Compensa- compensa- Unit Unit non- Implicit
hour of of all tion per tion per labor labor pay- price
Year all persons Output persons hour(1) hour(2) costs ments(3) deflator(4)
-------------------------------------------------------------------------------------------------
1959 54.1 33.5 61.9 13.7 65.8 25.3 24.6 25.0
1960 54.7 34.0 62.3 14.3 67.6 26.1 23.9 25.3
1961 56.4 34.7 61.5 14.7 69.2 26.2 24.4 25.5
1962 59.0 37.1 62.8 15.3 71.3 26.0 25.3 25.8
1963 61.0 38.7 63.5 15.9 72.9 26.1 25.8 26.0
1964 63.7 41.4 65.0 16.6 75.3 26.1 26.6 26.3
1965 65.7 44.3 67.4 17.2 76.5 26.2 27.7 26.7
1966 68.0 47.4 69.7 18.2 78.7 26.7 28.3 27.3
1967 69.2 48.2 69.7 19.2 80.8 27.8 28.9 28.2
1968 71.6 50.8 70.9 20.8 83.7 29.0 29.9 29.3
1969 71.7 52.3 72.9 22.2 84.8 30.9 29.7 30.5
1970 72.6 52.2 71.8 23.8 86.0 32.7 30.3 31.9
1971 75.6 54.1 71.6 25.3 87.7 33.5 33.0 33.3
1972 78.2 57.9 74.0 27.0 90.5 34.5 34.0 34.3
1973 80.7 62.1 76.9 29.2 92.2 36.1 34.4 35.5
1974 79.4 61.1 77.0 32.1 91.2 40.4 36.7 39.1
1975 81.5 60.1 73.7 35.3 92.1 43.3 43.0 43.2
1976 84.5 64.3 76.1 38.4 94.6 45.4 46.2 45.6
1977 85.8 68.0 79.2 41.4 95.9 48.3 49.2 48.6
1978 87.0 72.3 83.2 45.2 97.3 52.0 51.9 51.9
1979 86.4 74.3 86.1 49.5 95.7 57.3 54.8 56.4
1980 86.0 73.5 85.4 54.8 93.4 63.8 58.5 61.9
1981 87.0 74.8 86.0 60.2 92.9 69.1 65.6 67.9
1982 86.3 72.4 83.9 64.6 93.9 74.9 67.2 72.2
1983 89.9 76.8 85.4 67.3 94.9 74.9 74.2 74.7
1984 91.5 82.8 90.5 70.2 94.8 76.8 77.5 77.0
1985 92.4 85.8 92.8 73.5 95.8 79.5 80.0 79.7
1986 94.9 88.7 93.5 77.3 98.9 81.4 81.3 81.4
1987 94.7 91.4 96.5 80.2 99.0 84.7 81.4 83.5
1988 95.3 95.1 99.8 83.6 99.2 87.8 83.8 86.4
1989 95.8 98.1 102.4 85.8 97.1 89.6 90.8 90.0
1990 96.3 98.8 102.7 90.6 97.3 94.1 93.2 93.8
1991 96.9 97.1 100.2 95.1 97.9 98.1 96.7 97.6
1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
1993 100.2 102.9 102.7 102.3 99.3 102.1 103.4 102.5
1994 100.7 106.9 106.2 104.5 98.9 103.8 106.9 104.9
-------------------------------------------------------------------------------------------------
See footnotes following table 6, above. February 8, 1996
Source: Bureau of Labor Statistics
Appendix Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor costs
Indexes 1992=100
Real
Output per Hours Compensa- compensa- Unit
hour of of all tion per tion per labor
Year all persons Output persons hour(1) hour(2) costs
------------------------------------------------------------------------------------------
1949 33.5 26.6 79.3 8.3 48.8 24.7
1950 34.1 29.2 85.7 8.7 50.6 25.5
1951 33.8 31.2 92.3 9.6 51.7 28.4
1952 35.0 32.8 93.5 10.2 54.0 29.1
1953 36.1 35.5 98.3 10.8 56.6 29.8
1954 37.0 33.2 89.9 11.3 58.7 30.4
1955 38.7 36.6 94.8 11.7 61.2 30.2
1956 38.4 37.0 96.2 12.4 64.2 32.4
1957 39.2 37.1 94.7 13.2 65.8 33.6
1958 39.8 34.5 86.8 13.8 67.0 34.7
1959 40.5 37.5 92.6 14.3 69.0 35.3
1960 41.2 38.0 92.3 14.9 70.6 36.2
1961 42.5 38.2 89.9 15.3 72.0 36.1
1962 43.6 40.9 93.6 15.9 74.0 36.5
1963 45.4 43.0 94.5 16.4 75.2 36.1
1964 47.4 45.7 96.5 17.1 77.4 36.1
1965 48.4 49.4 102.1 17.5 77.8 36.1
1966 49.0 53.3 108.8 18.2 79.0 37.3
1967 50.9 55.1 108.1 19.2 80.8 37.8
1968 52.7 57.8 109.7 20.7 83.5 39.3
1969 53.4 59.3 111.0 22.2 85.0 41.6
1970 55.0 57.5 104.5 23.8 86.1 43.3
1971 58.6 59.0 100.7 25.3 87.5 43.1
1972 60.7 63.9 105.2 26.6 89.2 43.8
1973 62.5 69.1 110.5 28.6 90.5 45.8
1974 63.2 68.4 108.1 31.8 90.5 50.3
1975 65.1 63.4 97.4 35.7 93.0 54.8
1976 67.8 69.1 101.9 38.6 95.3 57.0
1977 70.2 74.5 106.2 42.0 97.2 59.8
1978 71.1 78.7 110.6 45.4 97.6 63.8
1979 70.7 79.7 112.8 49.8 96.3 70.5
1980 71.2 76.6 107.6 55.8 94.9 78.3
1981 72.1 77.2 107.0 61.3 94.6 85.0
1982 75.5 74.0 98.0 67.2 97.7 89.0
1983 78.4 77.6 99.0 69.0 97.3 88.1
1984 80.7 85.0 105.4 71.4 96.4 88.5
1985 83.7 87.6 104.6 75.3 98.1 89.9
1986 87.5 90.2 103.1 78.6 100.6 89.9
1987 89.8 93.3 103.8 80.9 99.9 90.0
1988 91.0 97.2 106.8 84.0 99.6 92.3
1989 92.5 99.2 107.2 86.7 98.1 93.7
1990 94.2 98.8 104.9 90.9 97.6 96.5
1991 96.5 97.1 100.6 95.7 98.6 99.1
1992 100.0 100.0 100.0 100.0 100.0 100.0
1993 102.1 103.5 101.4 102.4 99.4 100.3
1994 106.3 110.2 103.6 105.3 99.7 99.0
------------------------------------------------------------------------------------------
See footnotes following table 6, above. February 8, 1996
Source: Bureau of Labor Statistics
Appendix Table 4. Durable manufacturing sector: Productivity, hourly compensation,
and unit labor costs
Indexes 1992=100
Real
Output per Hours Compensa- compensa- Unit
hour of of all tion per tion per labor
Year all persons Output persons hour(1) hour(2) costs
------------------------------------------------------------------------------------------
1949 31.5 22.8 72.2 8.1 47.8 25.7
1950 33.4 26.8 80.5 8.5 49.7 25.6
1951 32.0 29.1 90.8 9.5 51.0 29.5
1952 33.5 31.2 93.1 10.2 53.8 30.3
1953 35.4 35.5 100.1 10.7 56.3 30.3
1954 35.4 31.4 88.6 11.2 58.5 31.7
1955 37.3 35.3 94.6 11.7 61.3 31.4
1956 35.7 34.5 96.8 12.5 64.3 34.9
1957 36.1 34.5 95.6 13.2 65.9 36.5
1958 35.8 30.2 84.4 13.9 67.7 39.0
1959 36.9 33.8 91.6 14.4 69.6 39.1
1960 37.0 33.9 91.4 15.0 71.2 40.6
1961 38.1 33.4 87.9 15.5 72.6 40.6
1962 39.6 36.8 92.8 16.1 74.7 40.6
1963 41.7 39.4 94.5 16.5 75.8 39.6
1964 43.4 42.2 97.1 17.2 77.8 39.6
1965 45.2 47.1 104.2 17.5 78.0 38.8
1966 46.0 52.0 113.2 18.3 79.1 39.7
1967 47.6 53.5 112.4 19.2 80.7 40.4
1968 49.3 56.1 114.0 20.7 83.5 42.0
1969 49.8 57.6 115.7 22.2 84.9 44.6
1970 50.5 53.9 106.7 23.9 86.3 47.2
1971 54.3 55.0 101.2 25.5 88.3 46.9
1972 57.3 61.4 107.1 26.8 89.9 46.7
1973 59.9 69.1 115.3 28.7 90.7 47.9
1974 59.7 67.7 113.4 31.8 90.5 53.2
1975 60.5 60.4 99.8 35.9 93.7 59.4
1976 63.1 65.8 104.3 39.0 96.2 61.9
1977 65.1 71.7 110.1 42.4 98.1 65.1
1978 66.0 76.9 116.6 45.5 97.9 69.0
1979 65.9 79.2 120.2 49.9 96.5 75.8
1980 65.7 74.4 113.1 56.1 95.6 85.4
1981 66.6 74.9 112.3 61.8 95.3 92.7
1982 68.9 69.3 100.7 67.8 98.6 98.4
1983 72.6 73.5 101.3 69.3 97.6 95.5
1984 75.9 83.7 110.3 71.3 96.2 93.9
1985 78.2 86.2 110.2 75.0 97.7 95.9
1986 81.8 87.8 107.4 78.7 100.7 96.2
1987 86.6 92.8 107.2 81.0 100.1 93.6
1988 88.5 98.4 111.2 83.7 99.3 94.6
1989 90.5 100.6 111.2 86.4 97.8 95.5
1990 92.5 99.4 107.5 90.5 97.1 97.9
1991 94.8 96.2 101.5 95.4 98.3 100.7
1992 100.0 100.0 100.0 100.0 100.0 100.0
1993 103.4 104.9 101.5 102.2 99.3 98.9
1994 108.7 113.8 104.7 105.0 99.4 96.6
------------------------------------------------------------------------------------------
See footnotes following table 6, above. February 8, 1996
Source: Bureau of Labor Statistics
Appendix Table 5. Nondurable manufacturing sector: Productivity, hourly compensation,
unit labor costs
Indexes 1992=100
Real
Output per Hours Compensa- compensa- Unit
hour of of all tion per tion per labor
Year all persons Output persons hour(1) hour(2) costs
------------------------------------------------------------------------------------------
1949 34.3 30.4 88.8 8.6 50.9 25.2
1950 34.5 32.0 92.8 9.0 52.5 26.1
1951 35.5 33.4 94.3 9.8 52.8 27.6
1952 36.5 34.4 94.2 10.3 54.4 28.2
1953 37.2 35.6 95.9 10.8 56.8 29.1
1954 38.7 35.4 91.6 11.4 59.2 29.3
1955 40.3 38.3 95.0 11.7 61.1 28.9
1956 41.9 39.9 95.3 12.4 64.0 29.6
1957 43.0 40.2 93.5 13.1 65.6 30.5
1958 44.4 40.0 90.1 13.7 66.3 30.8
1959 45.5 42.8 94.1 14.1 68.1 31.0
1960 46.7 43.6 93.5 14.7 69.9 31.6
1961 48.0 44.4 92.5 15.2 71.5 31.7
1962 48.8 46.2 94.6 15.7 73.1 32.2
1963 50.7 48.0 94.7 16.2 74.4 32.0
1964 52.7 50.5 95.7 16.9 76.5 32.1
1965 53.1 52.7 99.4 17.3 77.0 32.6
1966 53.7 55.2 102.8 18.0 78.2 33.6
1967 56.1 57.5 102.5 19.1 80.2 34.0
1968 58.2 60.5 104.0 20.5 82.7 35.2
1969 59.5 62.3 104.8 22.0 84.2 37.0
1970 61.8 62.8 101.7 23.6 85.5 38.3
1971 64.5 64.5 100.0 24.9 86.3 38.6
1972 66.5 68.3 102.7 26.2 87.8 39.3
1973 67.5 70.3 104.2 28.2 89.1 41.8
1974 69.5 70.2 101.1 31.5 89.5 45.3
1975 71.5 67.3 94.1 35.0 91.2 48.9
1976 74.4 73.5 98.7 37.8 93.1 50.8
1977 77.9 78.7 100.9 41.0 94.9 52.6
1978 79.4 81.5 102.6 44.5 95.9 56.1
1979 78.9 81.1 102.9 48.8 94.4 61.9
1980 79.2 79.4 100.2 54.4 92.7 68.7
1981 80.2 80.1 99.9 59.8 92.2 74.5
1982 83.6 78.9 94.4 65.8 95.7 78.7
1983 85.0 81.6 95.9 68.3 96.1 80.3
1984 86.6 85.6 98.9 70.9 95.7 81.9
1985 89.7 87.2 97.2 74.8 97.6 83.4
1986 92.5 90.1 97.3 77.8 99.6 84.1
1987 94.2 93.7 99.4 79.9 98.7 84.8
1988 94.8 95.8 101.0 83.7 99.2 88.3
1989 95.4 97.3 102.0 86.5 97.9 90.6
1990 96.5 98.0 101.5 91.1 97.8 94.4
1991 98.3 97.8 99.4 95.9 98.8 97.5
1992 100.0 100.0 100.0 100.0 100.0 100.0
1993 101.0 102.2 101.2 102.6 99.6 101.6
1994 104.2 106.5 102.2 105.5 99.8 101.2
------------------------------------------------------------------------------------------
See footnotes following table 6, above. February 8, 1996
Source: Bureau of Labor Statistics
Appendix Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor costs,
profits, and prices
Indexes 1992=100
Output Hourly Real Unit Total Unit Implicit
per all- compen- hourly Unit non- unit pro- price
employee Employee sation compen- labor labor cost fits deflator
Year hour Output Hours (1) sation(2) costs cost(6) (7) (8) (4)
---------------------------------------------------------------------------------------------------
1959 53.8 28.2 52.5 14.9 71.7 27.6 24.0 26.7 57.5 29.0
1960 54.5 29.0 53.3 15.5 73.4 28.4 24.8 27.4 52.3 29.3
1961 56.2 29.7 52.8 16.0 75.0 28.5 25.3 27.6 52.5 29.5
1962 58.5 32.1 54.9 16.6 77.2 28.4 24.9 27.5 57.7 29.8
1963 60.7 34.0 56.1 17.1 78.6 28.2 24.7 27.3 61.2 29.9
1964 63.2 36.5 57.7 17.9 81.0 28.3 24.6 27.3 63.9 30.1
1965 64.5 39.3 61.0 18.4 82.0 28.5 24.5 27.4 69.4 30.7
1966 64.9 41.8 64.3 19.4 84.0 29.9 24.8 28.5 69.4 31.6
1967 65.8 42.8 65.1 20.5 86.0 31.1 26.3 29.8 64.7 32.5
1968 68.2 45.6 66.9 22.0 88.7 32.3 27.8 31.1 64.6 33.6
1969 68.1 47.4 69.5 23.5 89.9 34.5 29.8 33.2 58.3 35.1
1970 68.2 46.8 68.6 25.2 91.0 36.9 33.4 35.9 47.3 36.8
1971 71.3 48.8 68.4 26.8 92.7 37.5 34.8 36.8 53.7 38.1
1972 73.2 52.6 71.9 28.3 95.0 38.7 35.0 37.7 57.6 39.2
1973 73.6 55.5 75.5 30.5 96.5 41.5 36.7 40.2 59.2 41.6
1974 71.9 54.6 75.9 33.4 95.1 46.5 42.2 45.3 50.9 45.8
1975 74.4 53.5 71.9 36.8 95.9 49.4 48.2 49.1 67.6 50.5
1976 77.3 58.0 75.0 39.9 98.4 51.6 47.9 50.6 76.4 52.6
1977 79.6 62.6 78.5 43.1 99.7 54.1 50.9 53.2 78.3 55.1
1978 80.0 66.4 83.0 46.8 100.7 58.5 54.3 57.4 82.1 59.3
1979 78.7 67.9 86.2 51.1 98.8 65.0 60.2 63.7 75.1 64.6
1980 79.7 68.1 85.4 56.4 96.1 70.8 69.6 70.5 63.2 69.9
1981 82.4 71.4 86.6 61.6 95.1 74.8 79.0 75.9 75.8 75.9
1982 83.8 70.5 84.1 66.0 95.9 78.7 85.1 80.4 66.1 79.3
1983 86.5 73.8 85.3 68.4 96.3 79.0 85.3 80.7 84.2 81.0
1984 88.9 80.7 90.9 71.3 96.2 80.2 83.8 81.2 105.4 83.0
1985 90.5 84.2 93.0 74.5 97.2 82.3 84.5 82.9 102.5 84.4
1986 93.0 86.8 93.3 78.2 100.1 84.1 87.0 84.9 90.1 85.3
1987 94.5 90.9 96.3 81.2 100.3 85.9 87.3 86.3 99.1 87.3
1988 96.0 95.7 99.7 84.4 100.1 87.9 89.6 88.4 107.7 89.8
1989 94.9 97.3 102.5 86.6 98.0 91.3 95.8 92.5 98.1 92.9
1990 95.9 98.5 102.7 91.2 97.9 95.1 99.0 96.2 93.9 96.0
1991 97.4 97.1 99.7 95.5 98.4 98.0 103.1 99.4 91.9 98.8
1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
1993 101.3 103.6 102.2 102.2 99.2 100.9 99.9 100.6 114.8 101.7
1994 102.7 109.3 106.4 104.2 98.6 101.4 99.6 100.9 133.4 103.4
---------------------------------------------------------------------------------------------------
See footnotes following table 6, above. February 8, 1996
Source: Bureau of Labor Statistics