Internet address: http://stats.bls.gov/lprhome.htm USDL 97-202 Historical, technical TRANSMISSION OF THIS information: (202) 606-5606 MATERIAL IS EMBARGOED Current data: (202) 606-7828 UNTIL 10:00 A.M. EDT Media contact: (202) 606-5902 WEDNESDAY, JUNE 18, 1997. PRODUCTIVITY AND COSTS First Quarter 1997 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 first quarter of 1997. The revised seasonally-adjusted annual rates of productivity change in the first quarter were: 2.9 percent in the business sector, and 2.6 percent in the nonfarm business sector. In both sectors, the first-quarter productivity gains were the largest since the fourth quarter of 1993. In manufacturing, productivity changes in the first quarter were: 2.8 percent in manufacturing, 3.3 percent in durable goods manufacturing, and 3.1 percent in nondurable goods manufacturing. Manufacturing productivity growth in the first quarter of 1997 was less than it had been in the fourth quarter of 1996; increases in both output and hours of all persons were larger, however. Output and hours in manufacturing, which includes about 18 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. First-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. --------------------------------------------------------------------- Historical measures of productivity and costs have been revised. See "Revised measures." --------------------------------------------------------------------- ----------------------------------------------------------------------- Table A. Productivity and costs: Revised first-quarter 1997 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 2.9 7.0 4.0 5.0 2.6 2.1 Nonfarm business 2.6 7.0 4.2 5.2 2.8 2.5 Manufacturing 2.8 5.6 2.8 4.4 2.0 1.6 Durable 3.3 8.6 5.2 4.8 2.4 1.5 Nondurable 3.1 2.5 -0.6 3.2 0.8 0.1 ----------------------------------------------------------------------- Percent change from same quarter a year ago Business 1.3 4.7 3.4 4.2 1.2 2.8 Nonfarm business 1.0 4.6 3.6 4.0 1.0 3.0 Manufacturing 3.6 5.3 1.7 4.4 1.4 0.7 Durable 3.9 6.9 2.9 4.5 1.5 0.6 Nondurable 3.5 3.4 -0.1 3.9 0.9 0.3 ----------------------------------------------------------------------- Business From the fourth quarter of 1996 to the first quarter of 1997, business productivity increased 2.9 percent as output grew 7.0 percent while hours of all persons rose 4.0 percent (seasonally adjusted annual rates). The increase in productivity was the largest since a 3.6 percent increase occurred during the fourth quarter of 1993. During the fourth quarter of 1996, productivity rose 1.3 percent (as revised), and output and hours rose 4.8 and 3.4 percent, respectively (table 1). Hourly compensation increased 5.0 percent during the first quarter of 1997, a sharper rise than the 3.7 percent in the fourth quarter of 1996. This measure of compensation includes wages and salaries, supplements, employer contributions to employee benefit plans, and taxes. However, unit labor costs, which reflect changes in both hourly compensation and productivity, increased slightly less during the first quarter, 2.1 percent, than they had during the previous quarter, 2.3 percent. Real hourly compensation, which takes into account changes in the Consumer Price Index for All Urban Consumers (CPI-U), rose at a 2.6 percent annual rate in the first quarter; it had risen 0.3 percent in the fourth quarter of 1996. The implicit price deflator for business output, which reflects changes in unit labor costs and unit nonlabor payments, increased 1.8 percent in the first quarter, compared with a 1.1 percent increase during the fourth quarter of 1996. Nonfarm business Productivity rose 2.6 percent in nonfarm business during the first quarter of 1997 as output rose 7.0 percent and hours of all persons increased 4.2 percent. As in the larger business sector, the first-quarter productivity gain was the largest since the fourth quarter of 1993 (when it also rose 2.6 percent). During the fourth quarter of 1996, productivity increased 1.3 percent in nonfarm business, reflecting gains of 4.9 percent in output and 3.6 percent in hours (table 2). Hourly compensation increased 5.2 percent during the first quarter, more rapidly than the 3.7-percent increase one quarter earlier. When the rise in the CPI-U is taken into account, real hourly compensation rose 2.8 percent in the first quarter and 0.3 percent during the previous quarter. The increase in unit labor costs in the sector, 2.5 percent in the first quarter, was about the same as the 2.4-percent increase in the fourth quarter. The implicit price deflator for nonfarm business output rose 2.0 percent in the first quarter, a higher rate of growth than the 1.2 percent rise one quarter earlier. Manufacturing Productivity increased 2.8 percent in manufacturing in the first quarter of 1997, as output rose 5.6 percent and hours of all persons increased 2.8 percent (seasonally adjusted annual rates). In the first quarter, durable goods industries exhibited strong growth in both output, 8.6 percent, and hours of all persons, 5.2 percent, resulting in a productivity increase of 3.3 percent. The growth in productivity in nondurable good industries was similar, 3.1 percent; however, the movements in output and hours were different. In nondurable manufacturing, output grew 2.5 percent, and hours of all persons declined 0.6 percent (tables 3, 4, and 5). Hourly compensation of all manufacturing workers rose 4.4 percent during the first quarter, compared with an increase of 2.6 percent in the previous quarter. In the first quarter of 1997, real hourly compensation rose 2.0 percent when the increase in consumer prices is taken into account, compared with a 0.7 percent drop one quarter earlier. The first-quarter increase in hourly compensation in the durable goods industries, 4.8 percent, was greater than that in nondurable goods industries, 3.2 percent. Unit labor costs rose 1.6 percent in manufacturing in the first quarter of 1997, after having dropped 1.1 percent in the fourth quarter and 1.2 percent in the third quarter. In durable goods manufacturing, unit labor costs rose 1.5 percent in the first quarter and fell 0.7 percent in the fourth quarter of 1996. In nondurable goods manufacturing, unit labor costs rose 0.1 percent in the first quarter and fell 0.8 percent in the previous quarter. ------------------------------------------------------------------------- Table B. Nonfinancial corporations: Preliminary first-quarter 1997 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 1997 I 4.6 8.8 4.0 4.8 2.4 0.2 10.8 1.1 ------------------------------------------------------------------------- Percent change from same quarter a year ago 1997 I 2.9 6.4 3.4 3.9 1.0 1.0 2.3 0.7 ------------------------------------------------------------------------- Nonfinancial corporations Preliminary first-quarter 1997 measures of productivity and costs for nonfinancial corporations also were announced today (tables B and 6). Productivity rose 4.6 percent in the first quarter, as output increased 8.8 percent and employee-hours rose 4.0 percent (seasonally adjusted annual rates). In the fourth quarter of 1996, productivity had increased 1.7 percent. Nonfinancial corporations include all corporations doing business in the United States, except banks, stock and commodity brokers, and finance and insurance agencies. Hourly compensation increased 4.8 percent during the first quarter, and real hourly compensation rose 2.4 percent when the rise in the CPI-U is taken into account. In the fourth quarter, hourly compensation rose 3.3 percent, and real hourly compensation dropped 0.1 percent. Unit labor costs for nonfinancial corporations increased 0.2 percent in the first quarter, less than the 1.5 percent increase recorded in the fourth quarter of 1996. Unit nonlabor costs fell 1.3 percent in the first quarter of 1997, and unit profits increased 10.8 percent. During the fourth quarter of 1996, unit nonlabor costs rose 1.2 percent, and unit profits dropped 9.4 percent (annual rates). The implicit price deflator for nonfinancial corporate output rose 1.1 percent in the first quarter and 0.1 percent in the fourth quarter. REVISED MEASURES Current and previous measures for the first quarter of 1997 for business, nonfarm business, and manufacturing are compared in table C. Productivity and output increased more rapidly--and hours rose more slowly-- in the business and nonfarm business sectors than originally reported on May 7, based on information then available. In manufacturing, productivity, output, and hours of all persons grew more slowly than originally reported last month. ----------------------------------------------------------------------- Table C. Previous and revised productivity and related measures Quarterly percent change at seasonally adjusted annual rate ----------------------------------------------------------------------- Real Hourly hourly Unit Produc- compen- compen- labor Sector tivity Output Hours sation sation costs ----------------------------------------------------------------------- First quarter 1997 Business: Previous 2.1 6.8 4.5 4.5 2.0 2.3 Current 2.9 7.0 4.0 5.0 2.6 2.1 Nonfarm business: Previous 2.0 6.8 4.7 4.7 2.3 2.7 Current 2.6 7.0 4.2 5.2 2.8 2.5 Manufacturing: Previous 3.1 6.7 3.5 4.5 2.0 1.4 Current 2.8 5.6 2.8 4.4 2.0 1.6 ----------------------------------------------------------------------- With this release of Productivity and Costs, labor input measures have been revised to reflect the annual benchmarking of employment levels derived from the monthly Current Employment Statistics survey and the updating of seasonal adjustment factors. (See USDL 97-186 for additional information.) In addition, more recent information on employment in corporations and nonprofit organizations has been incorporated into the employment and hours data for the business, nonfarm business, and nonfinancial corporate sectors. Seasonal adjustment factors also have been updated for the labor input series that are computed from household survey data. The revision of the productivity and costs measures to reflect output calculated using chain-type, annual-weighted indexes has been extended back to 1947 for the business and nonfarm business sectors and to 1958 for nonfinancial corporations. Based on these revisions, the long-term rate of growth in output per hour in the nonfarm business sector, 1947-96, was 2.0 percent a year. Tables 1-6 show revised data in all sectors for 1995-97. Appendix tables 1-3 show annual indexes of productivity and costs for the business, nonfarm business, and nonfinancial corporate sectors for all years since the inception of the series. Next release date The next release of Productivity and Costs is scheduled for 10:00 AM EDT, Tuesday, August 12, 1997. Preliminary second-quarter measures for business, nonfarm business, and manufacturing will be released at that time. TECHNICAL NOTES Labor Hours: The primary source of hours and employment data is the BLS Current Employment Statistics (CES) program, which provides monthly survey data on total employment and average weekly paid hours of production and non- supervisory workers in nonagricultural establishments. Jobs rather than persons are counted. Weekly paid hours are adjusted to hours at work using the BLS Hours at Work survey, conducted for this purpose. Data from the BLS Current Population Survey (CPS) are used for farm labor; in the nonfarm sector, the National Income and Product Accounts (NIPA) prepared by the Bureau of Economic Analysis (BEA) of the Department of Com- merce and the CPS are used to measure labor input for government enterprises, proprietors, and unpaid family workers. Output: Business sector output is an annual-weighted index constructed after excluding from gross domestic product (GDP) the following outputs: General government, nonprofit institutions, paid employees of private households, and the rental value of owner-occupied dwellings. Corresponding exclusions also are made in labor inputs. Business output accounted for about 76 percent of the value of GDP in 1992. Nonfarm business, which also excludes farming, accounted for about 75 percent of GDP in 1992. Annual manufacturing indexes are constructed by deflating 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; non- electrical 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 owner-oc- cupied dwellings; unincorporated business; and those corporations which are depository institutions, nondepository institutions, security and commodity brokers, insurance carriers, regulated investment offices, small business investment offices, and real estate investment trusts. Nonfinancial corporations accounted for about 52 percent of the value of GDP in 1992. Productivity: These productivity measures describe the relationship between real output and the labor time involved in its production. They show the changes from period to period in the amount of goods and services produced per hour. Although these measures relate output to hours at work of all persons engaged in a sector, they do not measure the specific contribution of labor, capital, or any other factor of production. Rather, they reflect the joint effects of many influences, including changes in technology; capital investment; level of output; utilization of capacity, energy, and materials; the organization of production; managerial skill; and the characteristics and effort of the work force. Information in this release will be made available to sensory-impaired individuals upon request. Voice phone: 202-606-STAT; TDD phone: 202-606-5897; TDD message referral phone number: 1-800-326-2577. 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 1995 I r100.3 108.8 108.4 106.2 98.7 105.8 r107.5 106.4 II r100.7 109.0 108.2 r107.2 r98.9 106.5 107.8 107.0 III r101.0 110.3 r109.2 r108.2 r99.2 107.1 108.3 107.5 IV r100.9 110.4 r109.4 r109.3 r99.7 108.4 106.7 107.8 ANNUAL r100.7 109.6 108.8 r107.7 r99.1 106.9 107.6 107.2 1996 I 101.5 111.2 109.6 r110.2 99.7 r108.6 r107.4 108.2 II r101.7 112.6 r110.7 r111.3 r99.8 r109.4 r107.7 108.8 III r101.8 113.2 r111.3 r112.3 r100.1 110.4 107.0 109.2 IV r102.1 114.5 r112.2 r113.4 r100.2 111.1 106.7 109.5 ANNUAL r101.7 112.9 r111.0 r111.7 r99.9 109.9 107.2 108.9 1997 I r102.8 r116.5 113.3 r114.8 100.8 r111.6 107.0 110.0 --------------------------------------------------------------------------------------------------------- Percent change from previous quarter at annual rate(5) 1995 I r-2.5 0.4 r2.9 r2.9 0.1 5.5 r-1.2 3.0 II r1.5 0.7 -0.7 4.1 r1.0 2.6 1.3 2.1 III r1.2 4.7 r3.4 r3.5 r1.4 2.2 r1.7 2.0 IV -0.6 0.5 1.1 4.3 1.8 r4.9 -5.6 1.0 ANNUAL 0.1 2.5 2.4 3.1 r0.2 3.0 1.1 2.3 1996 I r2.3 3.0 r0.6 r3.3 -0.1 r0.9 r2.6 1.5 II r0.9 5.0 r4.0 r4.0 r0.6 3.1 1.1 2.4 III r0.2 2.2 r2.0 3.8 1.1 r3.6 r-2.6 1.3 IV r1.3 4.8 r3.4 3.7 0.3 r2.3 r-1.0 1.1 ANNUAL 1.0 3.0 2.0 3.8 0.8 2.8 -0.3 1.6 1997 I r2.9 r7.0 r4.0 r5.0 r2.6 r2.1 r1.1 1.8 --------------------------------------------------------------------------------------------------------- Percent change from corresponding quarter of previous year 1995 I r-0.1 3.7 3.8 2.1 r-0.8 r2.1 2.8 2.4 II 0.2 2.2 2.0 r2.9 -0.1 2.8 2.0 2.5 III r0.0 2.4 2.3 r3.3 0.7 3.3 0.6 2.3 IV -0.1 1.6 1.7 3.7 r1.0 3.8 -1.0 2.0 ANNUAL 0.1 2.5 2.4 3.1 r0.2 3.0 1.1 2.3 1996 I 1.1 2.2 1.1 3.8 1.0 2.7 r0.0 1.7 II 1.0 3.3 r2.3 3.8 r0.9 2.8 -0.1 1.7 III r0.7 2.7 1.9 3.9 0.9 3.1 -1.2 1.6 IV 1.2 3.7 2.5 3.7 0.5 2.5 0.0 1.6 ANNUAL 1.0 3.0 2.0 3.8 0.8 2.8 -0.3 1.6 1997 I r1.3 4.7 3.4 r4.2 r1.2 2.8 -0.4 1.7 --------------------------------------------------------------------------------------------------------- See footnotes following Table 6. June 18, 1997 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 1995 I 100.5 109.0 r108.5 r106.1 r98.6 105.6 108.2 106.5 II r100.8 109.2 108.3 r107.1 r98.8 r106.2 108.5 107.1 III r101.2 110.6 r109.3 r108.1 r99.2 106.8 r108.8 107.5 IV r100.9 110.7 r109.6 r109.2 r99.5 108.1 107.1 107.8 ANNUAL r100.8 109.9 r109.0 r107.6 99.1 106.7 108.2 107.2 1996 I 101.5 111.4 109.8 r110.1 99.6 108.5 107.4 108.1 II r101.6 112.7 r111.0 r111.1 r99.6 109.4 r107.4 108.7 III r101.5 113.3 r111.6 r112.0 r99.8 r110.4 106.6 109.0 IV r101.8 114.6 r112.6 r113.1 r99.9 111.0 106.3 109.3 ANNUAL r101.5 113.0 r111.3 r111.5 r99.7 109.8 106.9 108.8 1997 I 102.5 r116.6 r113.7 114.5 100.6 111.7 106.6 109.9 --------------------------------------------------------------------------------------------------------- Percent change from previous quarter at annual rate(5) 1995 I -2.2 0.6 r2.8 2.9 r0.1 r5.2 r-0.6 3.0 II 1.5 0.9 -0.6 4.0 0.9 2.5 r1.2 2.0 III r1.5 5.0 r3.5 r3.6 1.5 r2.1 r1.1 1.7 IV r-1.0 0.4 r1.4 r4.1 r1.6 5.2 -6.4 0.9 ANNUAL r0.2 2.7 2.4 3.2 0.3 2.9 1.1 2.2 1996 I r2.1 2.7 r0.7 3.4 0.1 r1.3 r1.5 1.4 II r0.4 4.8 r4.4 r3.7 r0.3 3.3 r-0.2 2.1 III r-0.2 1.9 r2.1 r3.5 r0.8 r3.6 r-3.0 1.2 IV r1.3 4.9 r3.6 r3.7 r0.3 r2.4 r-0.9 1.2 ANNUAL 0.7 2.9 2.2 3.6 0.7 2.9 -1.1 1.5 1997 I r2.6 r7.0 r4.2 r5.2 r2.8 r2.5 r1.2 2.0 --------------------------------------------------------------------------------------------------------- Percent change from corresponding quarter of previous year 1995 I 0.2 3.9 3.7 2.3 r-0.6 2.1 r3.3 2.5 II 0.3 2.4 2.1 3.0 r-0.1 2.7 2.1 2.5 III 0.3 2.6 2.3 r3.4 0.8 r3.2 0.4 2.2 IV -0.1 1.7 1.8 r3.6 1.0 3.7 -1.2 1.9 ANNUAL r0.2 2.7 2.4 3.2 0.3 2.9 1.1 2.2 1996 I 1.0 2.2 1.2 3.8 1.0 r2.7 r-0.7 1.5 II r0.7 3.2 r2.5 r3.7 r0.8 3.0 -1.1 1.5 III 0.3 2.4 2.1 3.7 0.7 3.3 r-2.1 1.4 IV 0.9 3.6 2.7 3.6 0.4 2.6 -0.7 1.5 ANNUAL 0.7 2.9 2.2 3.6 0.7 2.9 -1.1 1.5 1997 I r1.0 4.6 3.6 r4.0 r1.0 r3.0 r-0.8 1.6 --------------------------------------------------------------------------------------------------------- See footnotes following Table 6. June 18, 1997 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 1995 I r107.3 112.9 r105.2 r107.3 99.7 r99.9 II 108.2 112.6 104.0 108.4 r99.9 r100.1 III r109.3 113.3 r103.6 r109.4 r100.4 100.1 IV r109.8 113.6 r103.4 r110.3 r100.6 100.4 ANNUAL r108.7 113.1 r104.1 r108.8 r100.2 100.2 1996 I r110.9 113.9 r102.7 r110.1 r99.6 r99.3 II r111.5 115.6 r103.7 r111.8 r100.3 r100.2 III r113.0 117.0 r103.6 r113.0 r100.6 100.0 IV r114.0 118.3 r103.7 r113.7 r100.5 r99.7 ANNUAL r112.2 116.2 r103.5 r112.0 r100.1 99.8 1997 I r114.8 r119.9 r104.4 r114.9 r101.0 r100.1 -------------------------------------------------------------------------------------------------- Percent change from previous quarter at annual rate(5) 1995 I r3.6 4.2 r0.6 r3.4 r0.6 r-0.2 II r3.3 -1.4 r-4.5 4.3 r1.1 r0.9 III r4.2 2.6 r-1.5 r4.0 r1.8 -0.2 IV r1.7 1.0 r-0.7 r3.1 r0.6 r1.4 ANNUAL r3.2 3.5 r0.3 r3.5 r0.7 0.3 1996 I r4.0 1.1 r-2.7 r-0.6 r-3.8 r-4.4 II r2.4 6.3 r3.8 r6.2 r2.7 r3.7 III r5.5 5.0 r-0.5 r4.2 r1.5 -1.2 IV r3.7 4.3 r0.6 r2.6 r-0.7 r-1.1 ANNUAL r3.3 2.7 r-0.5 r2.9 r-0.1 r-0.4 1997 I r2.8 r5.6 r2.8 r4.4 2.0 r1.6 -------------------------------------------------------------------------------------------------- Percent change from corresponding quarter of previous year 1995 I 3.1 6.0 2.8 2.7 -0.2 -0.4 II 2.7 3.6 r0.9 3.5 0.4 r0.7 III r3.3 3.0 r-0.3 r3.7 r1.0 0.3 IV r3.2 1.6 r-1.6 r3.7 r1.0 0.5 ANNUAL r3.2 3.5 r0.3 r3.5 r0.7 0.3 1996 I r3.3 0.8 r-2.4 r2.7 r-0.1 -0.6 II r3.1 2.7 r-0.3 r3.2 r0.3 0.1 III r3.4 3.3 r-0.1 r3.2 r0.2 -0.1 IV r3.9 4.1 r0.3 r3.1 r-0.1 r-0.8 ANNUAL r3.3 2.7 r-0.5 r2.9 r-0.1 r-0.4 1997 I r3.6 r5.3 1.7 4.4 1.4 r0.7 -------------------------------------------------------------------------------------------------- See footnotes following Table 6. June 18, 1997 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 1995 I r110.5 118.1 r106.9 106.9 99.4 r96.8 II r111.1 117.8 r106.0 108.0 99.6 r97.2 III r112.7 119.4 r106.0 r109.2 r100.2 96.9 IV r113.4 120.4 r106.2 r109.8 r100.2 r96.9 ANNUAL r111.9 118.9 r106.3 r108.5 r99.9 96.9 1996 I r115.0 121.5 r105.6 r109.0 r98.6 r94.7 II r116.2 124.6 r107.2 r111.0 r99.6 95.6 III r117.9 126.4 r107.2 r112.1 r99.9 95.1 IV r118.6 127.3 r107.4 r112.5 r99.4 r94.9 ANNUAL r116.8 124.9 r107.0 r111.0 r99.3 95.1 1997 I r119.5 r129.9 r108.7 r113.9 r100.0 r95.3 -------------------------------------------------------------------------------------------------- Percent change from previous quarter at annual rate(5) 1995 I r6.1 7.1 r0.9 3.2 0.4 r-2.8 II r2.4 -1.1 r-3.4 r4.2 r1.1 r1.8 III r5.6 5.5 r-0.1 r4.4 r2.2 r-1.2 IV r2.5 3.5 r0.9 r2.4 r-0.1 r-0.1 ANNUAL r4.2 5.5 r1.3 r3.4 r0.6 -0.7 1996 I r6.0 3.7 r-2.2 r-3.1 r-6.2 r-8.6 II r4.0 10.3 r6.1 r7.7 r4.1 r3.5 III r6.2 6.0 r-0.2 r4.2 r1.5 r-1.9 IV r2.1 2.8 r0.7 r1.4 r-1.9 r-0.7 ANNUAL r4.3 5.0 r0.7 r2.3 r-0.6 -1.9 1997 I r3.3 r8.6 r5.2 r4.8 r2.4 r1.5 -------------------------------------------------------------------------------------------------- Percent change from corresponding quarter of previous year 1995 I 4.2 8.0 3.7 2.6 -0.3 -1.5 II 3.6 5.6 1.9 3.3 0.3 -0.3 III r4.2 5.0 r0.7 r3.6 r1.0 -0.6 IV r4.2 3.7 r-0.4 r3.5 r0.9 -0.6 ANNUAL r4.2 5.5 r1.3 r3.4 r0.6 -0.7 1996 I r4.1 2.9 r-1.2 r1.9 r-0.8 -2.1 II r4.5 5.7 r1.2 r2.8 r-0.1 -1.7 III r4.7 5.8 r1.1 r2.7 r-0.3 -1.9 IV r4.6 5.7 r1.1 r2.5 r-0.7 -2.0 ANNUAL r4.3 5.0 r0.7 r2.3 r-0.6 -1.9 1997 I r3.9 r6.9 r2.9 r4.5 r1.5 r0.6 -------------------------------------------------------------------------------------------------- See footnotes following Table 6. June 18, 1997 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 1995 I r104.5 107.6 103.0 r107.4 99.8 102.8 II r105.6 107.1 r101.4 r108.5 r100.0 r102.7 III r106.4 106.9 r100.5 r109.3 r100.3 r102.7 IV r106.7 106.4 r99.7 r110.3 r100.6 r103.4 ANNUAL r105.8 107.0 r101.1 r108.9 r100.3 102.9 1996 I r107.2 105.9 r98.8 r111.3 r100.7 r103.9 II r107.4 106.3 r99.0 r112.2 r100.7 104.5 III r108.7 107.3 r98.7 r113.4 r101.0 r104.4 IV r110.1 108.8 r98.8 r114.7 r101.4 r104.2 ANNUAL r108.2 107.1 r99.0 r112.8 r100.8 104.2 1997 I r111.0 109.5 r98.7 r115.6 r101.6 r104.2 -------------------------------------------------------------------------------------------------- Percent change from previous quarter at annual rate(5) 1995 I r0.7 0.8 r0.1 r3.5 r0.7 r2.8 II r4.6 -1.7 r-6.0 r4.0 r0.8 r-0.6 III r3.0 -0.7 r-3.5 r3.1 r0.9 r0.1 IV r1.1 -1.9 r-3.0 r3.8 r1.3 r2.7 ANNUAL r2.3 1.2 r-1.1 r3.4 r0.6 1.1 1996 I r1.7 -1.9 r-3.5 r3.6 r0.3 r1.9 II r1.0 1.6 r0.5 r3.4 r0.0 2.4 III 4.6 3.7 -0.9 r4.2 r1.5 r-0.3 IV r5.5 5.9 r0.4 r4.6 r1.2 r-0.8 ANNUAL r2.2 0.1 r-2.1 r3.6 r0.6 1.3 1997 I r3.1 r2.5 r-0.6 r3.2 r0.8 r0.1 -------------------------------------------------------------------------------------------------- Percent change from corresponding quarter of previous year 1995 I 2.0 3.6 1.6 2.7 -0.2 r0.7 II 1.8 1.2 r-0.5 r3.4 r0.4 r1.6 III r2.5 0.7 r-1.8 r3.5 r0.8 0.9 IV r2.3 -0.9 r-3.1 r3.6 r1.0 r1.2 ANNUAL r2.3 1.2 r-1.1 r3.4 r0.6 1.1 1996 I r2.6 -1.5 r-4.0 r3.6 r0.8 1.0 II r1.7 -0.7 r-2.4 r3.5 r0.6 1.8 III r2.1 0.3 r-1.7 r3.8 r0.8 r1.6 IV r3.2 2.3 r-0.9 r4.0 r0.8 0.8 ANNUAL r2.2 0.1 r-2.1 r3.6 r0.6 1.3 1997 I r3.5 3.4 r-0.1 r3.9 r0.9 r0.3 -------------------------------------------------------------------------------------------------- See footnotes following Table 6. June 18, 1997 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 costs fits deflator quarter hour Output hours (1) sation(2) costs costs(6) (7) (8) (4) ---------------------------------------------------------------------------------------------------------- Indexes 1992=100 1995 I r101.7 111.3 109.4 r105.2 r97.8 103.4 100.5 102.7 124.9 104.7 II r102.3 112.0 r109.5 r106.2 98.0 103.8 101.6 103.2 124.0 105.1 III r103.5 114.0 r110.1 r107.1 r98.3 103.5 100.4 102.7 133.8 105.5 IV r104.1 115.2 r110.6 r108.2 r98.6 103.9 100.7 103.1 132.1 105.7 ANNUAL 103.0 113.1 r109.9 r106.7 98.3 103.7 100.8 102.9 128.8 105.3 1996 I r104.5 115.8 r110.9 r108.9 r98.5 104.3 100.0 103.2 136.2 106.1 II r104.8 117.4 r112.0 r109.9 r98.6 104.9 99.0 103.3 138.5 106.5 III r105.8 119.2 r112.6 r111.0 r98.9 104.9 98.8 103.3 139.2 106.6 IV r106.3 120.6 r113.5 r111.9 r98.9 105.3 99.0 103.7 135.9 106.6 ANNUAL r105.3 118.3 r112.3 r110.4 r98.7 104.8 99.2 103.4 137.5 106.5 1997 I 107.5 123.2 114.6 113.2 99.5 105.3 98.7 103.6 139.4 106.9 ---------------------------------------------------------------------------------------------------------- Percent change from previous quarter at annual rate(5) 1995 I -3.4 -0.3 r3.2 2.4 r-0.3 6.0 7.5 6.4 -24.4 2.4 II 2.3 2.4 0.2 3.8 0.6 1.5 4.4 2.2 -2.9 1.7 III r4.6 7.2 r2.4 r3.5 r1.3 -1.1 -4.5 -2.0 35.7 1.6 IV 2.5 4.4 1.8 r4.0 r1.5 1.4 1.3 1.4 -4.9 0.6 ANNUAL 0.4 3.5 r3.1 2.6 -0.2 2.2 1.2 1.9 0.5 1.8 1996 I r1.4 2.2 r0.8 r2.8 r-0.5 1.4 -2.9 0.3 12.9 1.7 II r1.3 5.6 r4.3 r3.7 r0.3 2.3 -3.9 0.7 7.1 1.4 III r3.9 6.1 r2.1 r4.0 r1.3 0.1 -1.0 -0.2 2.0 0.1 IV 1.7 5.0 r3.2 r3.3 -0.1 1.5 1.2 1.4 -9.4 0.1 ANNUAL r2.3 4.5 r2.2 3.5 0.5 1.1 -1.6 0.4 6.8 1.1 1997 I 4.6 8.8 4.0 4.8 2.4 0.2 -1.3 -0.2 10.8 1.1 ---------------------------------------------------------------------------------------------------------- Percent change from corresponding quarter of previous year 1995 I r-1.0 3.7 r4.7 r1.4 -1.4 2.4 -1.5 1.4 5.8 1.8 II r-0.3 2.9 3.1 r2.3 r-0.7 2.6 3.1 2.8 -4.2 2.0 III r1.1 3.9 2.8 r3.0 0.4 1.9 1.2 1.7 2.4 1.8 IV 1.5 3.4 1.9 r3.4 0.8 1.9 2.1 2.0 -1.4 1.6 ANNUAL 0.4 3.5 r3.1 2.6 -0.2 2.2 1.2 1.9 0.5 1.8 1996 I 2.7 4.0 1.3 3.5 r0.7 0.8 -0.5 0.5 9.0 1.4 II r2.4 4.8 r2.3 r3.5 r0.6 1.0 -2.5 0.1 11.7 1.3 III 2.3 4.6 2.2 r3.6 r0.6 1.3 -1.7 0.6 4.1 1.0 IV 2.1 4.7 2.6 r3.4 r0.2 1.3 -1.7 0.6 2.8 0.8 ANNUAL r2.3 4.5 r2.2 3.5 0.5 1.1 -1.6 0.4 6.8 1.1 1997 I 2.9 6.4 3.4 3.9 1.0 1.0 -1.3 0.4 2.3 0.7 ---------------------------------------------------------------------------------------------------------- See footnotes following Table 6. June 18, 1997 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 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. 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) ------------------------------------------------------------------------------------------------------- 1947 33.7 21.9 65.1 6.8 42.8 20.2 18.5 19.6 1948 35.2 23.1 65.6 7.4 43.0 21.0 20.5 20.8 1949 36.0 22.8 63.4 7.5 44.1 20.8 20.3 20.6 1950 39.1 25.1 64.2 8.0 46.8 20.6 21.4 20.8 1951 40.3 26.7 66.2 8.8 47.5 21.9 23.5 22.4 1952 41.4 27.5 66.3 9.4 49.6 22.6 22.9 22.7 1953 43.0 28.8 67.0 10.0 52.4 23.2 22.4 22.9 1954 43.9 28.4 64.7 10.3 53.8 23.5 22.4 23.1 1955 45.8 30.7 67.1 10.6 55.4 23.1 23.8 23.4 1956 45.8 31.2 68.1 11.3 58.2 24.6 23.2 24.1 1957 47.2 31.7 67.1 12.0 60.0 25.5 23.9 24.9 1958 48.5 31.0 64.0 12.6 61.0 25.9 24.5 25.4 1959 50.5 33.7 66.7 13.1 63.1 25.9 25.0 25.6 1960 51.4 34.3 66.7 13.6 64.7 26.6 24.6 25.8 1961 53.2 34.9 65.7 14.2 66.6 26.7 25.0 26.1 1962 55.7 37.2 66.8 14.8 68.9 26.6 25.7 26.3 1963 57.9 38.9 67.2 15.4 70.5 26.6 26.3 26.5 1964 60.5 41.4 68.3 16.2 73.2 26.7 26.8 26.8 1965 62.7 44.2 70.6 16.8 74.8 26.8 28.0 27.2 1966 65.2 47.2 72.5 17.9 77.5 27.5 28.6 27.9 1967 66.6 48.1 72.3 18.9 79.5 28.4 29.2 28.7 1968 68.9 50.5 73.3 20.5 82.5 29.7 30.0 29.8 1969 69.2 52.0 75.2 21.9 83.7 31.7 30.0 31.1 1970 70.5 52.0 73.7 23.6 85.4 33.5 30.6 32.4 1971 73.6 54.0 73.3 25.1 87.0 34.1 33.4 33.9 1972 76.0 57.6 75.7 26.7 89.6 35.1 34.8 35.0 1973 78.4 61.6 78.5 29.0 91.6 37.0 36.6 36.8 1974 77.1 60.6 78.6 31.8 90.5 41.3 38.6 40.3 1975 79.8 60.0 75.2 35.1 91.5 44.0 44.5 44.2 1976 82.5 64.0 77.6 38.2 94.1 46.2 47.1 46.5 1977 83.9 67.6 80.6 41.2 95.3 49.0 50.0 49.4 1978 84.9 71.7 84.5 44.8 96.5 52.8 53.3 53.0 1979 84.5 73.9 87.4 49.2 95.0 58.2 56.5 57.6 1980 84.2 73.0 86.6 54.5 92.7 64.7 59.6 62.8 1981 85.7 74.8 87.2 59.6 92.0 69.5 67.1 68.7 1982 85.3 72.5 85.0 64.1 93.1 75.1 68.3 72.7 1983 88.0 76.1 86.5 66.7 94.0 75.8 74.6 75.4 1984 90.2 82.5 91.5 69.6 94.0 77.2 78.5 77.7 1985 91.7 85.7 93.5 73.0 95.2 79.7 80.5 80.0 1986 94.0 88.5 94.1 76.8 98.3 81.7 81.7 81.7 1987 94.0 91.1 97.0 79.8 98.5 84.9 81.9 83.8 1988 94.6 94.6 100.0 83.5 99.0 88.2 84.1 86.8 1989 95.4 97.8 102.5 85.8 97.1 89.9 91.3 90.4 1990 96.1 98.6 102.6 90.7 97.4 94.4 93.5 94.1 1991 96.7 96.9 100.2 95.1 97.9 98.3 96.6 97.7 1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1993 100.1 102.7 102.5 102.5 99.5 102.3 102.8 102.5 1994 100.6 107.0 106.3 104.5 98.9 103.8 106.4 104.8 1995 100.7 109.6 108.8 107.7 99.1 106.9 107.6 107.2 1996 101.7 112.9 111.0 111.7 99.9 109.9 107.2 108.9 ------------------------------------------------------------------------------------------------------- See footnotes following Table 6. June 18, 1997 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) ------------------------------------------------------------------------------------------------------- 1947 38.9 21.5 55.3 7.3 45.9 18.7 17.6 18.3 1948 39.9 22.5 56.3 7.9 46.1 19.8 19.1 19.6 1949 41.3 22.3 54.0 8.2 48.1 19.8 19.7 19.7 1950 44.2 24.6 55.7 8.7 50.4 19.6 20.6 20.0 1951 45.3 26.4 58.3 9.4 50.8 20.8 22.1 21.3 1952 46.1 27.2 58.9 9.9 52.7 21.6 21.9 21.7 1953 47.2 28.4 60.3 10.5 55.2 22.3 21.9 22.1 1954 48.1 28.0 58.2 10.9 56.7 22.6 22.1 22.4 1955 50.1 30.3 60.5 11.3 59.0 22.5 23.3 22.8 1956 49.7 30.8 62.0 12.0 61.7 24.1 22.8 23.6 1957 50.9 31.4 61.7 12.6 63.2 24.8 23.5 24.4 1958 52.0 30.7 59.0 13.2 63.9 25.3 23.8 24.8 1959 54.2 33.5 61.7 13.7 66.0 25.3 24.7 25.0 1960 54.8 34.0 62.0 14.3 67.7 26.1 24.0 25.3 1961 56.5 34.7 61.3 14.8 69.3 26.1 24.5 25.6 1962 59.1 37.0 62.6 15.4 71.5 26.0 25.3 25.8 1963 61.2 38.7 63.3 15.9 73.0 26.0 25.9 26.0 1964 63.8 41.3 64.8 16.7 75.4 26.1 26.6 26.3 1965 65.7 44.2 67.3 17.2 76.7 26.2 27.6 26.7 1966 68.0 47.4 69.7 18.2 78.8 26.8 28.2 27.3 1967 69.2 48.2 69.7 19.3 80.9 27.8 28.8 28.2 1968 71.6 50.7 70.9 20.8 83.8 29.0 29.7 29.3 1969 71.6 52.3 72.9 22.2 84.9 31.0 29.6 30.5 1970 72.6 52.1 71.8 23.8 86.1 32.8 30.3 31.9 1971 75.6 54.1 71.5 25.4 87.8 33.5 33.0 33.3 1972 78.2 57.8 73.9 27.0 90.6 34.5 34.0 34.3 1973 80.7 62.0 76.9 29.2 92.3 36.2 34.3 35.5 1974 79.4 61.1 77.0 32.1 91.3 40.4 36.7 39.1 1975 81.5 60.0 73.6 35.3 92.1 43.3 43.0 43.2 1976 84.5 64.3 76.1 38.4 94.6 45.4 46.0 45.6 1977 85.8 67.9 79.2 41.5 96.0 48.3 49.0 48.6 1978 86.9 72.3 83.1 45.2 97.3 52.0 51.8 51.9 1979 86.3 74.3 86.1 49.5 95.7 57.4 54.7 56.4 1980 86.0 73.4 85.4 54.8 93.3 63.8 58.6 61.9 1981 86.9 74.8 86.1 60.1 92.8 69.2 65.6 67.9 1982 86.3 72.4 83.9 64.6 93.9 74.8 67.4 72.2 1983 89.9 76.8 85.5 67.3 94.8 74.9 74.3 74.7 1984 91.4 82.8 90.6 70.1 94.7 76.7 77.4 77.0 1985 92.3 85.8 92.9 73.4 95.7 79.5 79.9 79.6 1986 94.7 88.7 93.7 77.2 98.8 81.5 81.3 81.4 1987 94.5 91.3 96.7 80.1 98.9 84.7 81.4 83.6 1988 95.2 95.1 99.9 83.6 99.1 87.8 83.8 86.4 1989 95.7 98.1 102.5 85.8 97.1 89.7 90.7 90.0 1990 96.2 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 96.8 97.6 1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1993 100.1 102.9 102.8 102.2 99.2 102.1 103.4 102.5 1994 100.6 107.0 106.4 104.3 98.7 103.7 107.0 104.9 1995 100.8 109.9 109.0 107.6 99.1 106.7 108.2 107.2 1996 101.5 113.0 111.3 111.5 99.7 109.8 106.9 108.8 ------------------------------------------------------------------------------------------------------- See footnotes following Table 6. June 18, 1997 Source: Bureau of Labor Statistics Appendix table 3. Nonfinancial corporations: Productivity, hourly compensation, unit labor costs, unit 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-r labor labor costs fits deflator Year hour Output hours (1) sation(2) costs costs(6) (7) (8) (4) -------------------------------------------------------------------------------------------------------- 1958 50.9 25.0 49.2 14.4 70.0 28.4 25.5 27.6 44.9 29.2 1959 53.5 27.9 52.2 15.0 72.2 28.0 24.5 27.1 52.4 29.4 1960 54.5 28.8 52.9 15.6 73.9 28.6 25.3 27.8 47.7 29.6 1961 56.2 29.4 52.4 16.1 75.6 28.7 25.8 27.9 47.9 29.7 1962 58.6 31.9 54.5 16.7 77.7 28.6 25.4 27.7 52.0 29.9 1963 60.6 33.7 55.7 17.3 79.2 28.5 25.3 27.7 55.0 30.1 1964 63.1 36.1 57.3 18.0 81.6 28.6 25.2 27.7 57.3 30.4 1965 64.5 39.1 60.6 18.5 82.6 28.7 25.1 27.8 61.8 30.9 1966 65.5 41.8 63.9 19.5 84.6 29.8 25.1 28.6 61.5 31.6 1967 66.4 42.9 64.6 20.6 86.6 31.0 26.6 29.9 57.6 32.4 1968 68.7 45.6 66.4 22.2 89.4 32.3 28.4 31.3 57.5 33.6 1969 68.7 47.4 69.0 23.7 90.5 34.5 30.6 33.5 51.7 35.1 1970 69.0 47.0 68.0 25.4 91.7 36.7 34.3 36.1 42.0 36.6 1971 71.9 48.9 67.9 27.0 93.4 37.5 36.0 37.1 47.6 38.0 1972 73.8 52.7 71.4 28.5 95.7 38.6 35.9 37.9 51.6 39.2 1973 74.4 55.8 74.9 30.7 97.2 41.3 37.5 40.3 52.8 41.5 1974 72.7 54.8 75.3 33.7 95.8 46.3 43.3 45.5 46.2 45.6 1975 75.5 53.9 71.4 37.0 96.6 49.0 48.9 49.0 61.0 50.1 1976 78.1 58.3 74.6 40.1 99.0 51.4 48.8 50.7 68.7 52.4 1977 80.1 62.6 78.1 43.3 100.2 54.0 50.4 53.1 75.4 55.1 1978 80.8 66.7 82.6 47.0 101.2 58.2 53.8 57.1 78.0 59.0 1979 79.4 68.2 85.9 51.4 99.3 64.7 59.8 63.4 73.0 64.3 1980 80.3 68.3 85.1 56.7 96.5 70.5 69.2 70.2 64.4 69.7 1981 82.8 71.5 86.3 61.8 95.5 74.7 79.0 75.8 75.9 75.8 1982 84.2 70.5 83.7 66.2 96.3 78.7 85.4 80.4 68.2 79.3 1983 86.8 73.7 84.9 68.7 96.8 79.1 85.8 80.9 83.3 81.1 1984 89.6 81.0 90.4 71.7 96.8 80.0 84.3 81.1 99.9 82.8 1985 91.0 84.2 92.5 74.9 97.7 82.3 85.2 83.1 97.8 84.4 1986 93.7 86.9 92.7 78.7 100.8 84.0 87.5 84.9 88.0 85.2 1987 95.1 91.1 95.8 81.6 100.7 85.7 87.5 86.2 95.9 87.1 1988 96.7 95.9 99.2 84.8 100.6 87.7 89.7 88.2 103.8 89.6 1989 95.4 97.5 102.2 86.9 98.4 91.1 96.3 92.5 96.0 92.8 1990 96.1 98.4 102.4 91.4 98.1 95.2 99.1 96.2 94.6 96.1 1991 97.5 97.1 99.6 95.6 98.5 98.0 103.0 99.3 93.9 98.8 1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 1993 101.3 103.6 102.3 102.2 99.2 100.9 99.7 100.6 113.2 101.7 1994 102.5 109.3 106.6 104.0 98.5 101.4 99.6 101.0 128.1 103.4 1995 103.0 113.1 109.9 106.7 98.3 103.7 100.8 102.9 128.8 105.3 1996 105.3 118.3 112.3 110.4 98.7 104.8 99.2 103.4 137.5 106.5 -------------------------------------------------------------------------------------------------------- See footnotes following Table 6. June 18, 1997 Source: Bureau of Labor Statistics