"

Bureau of Labor Statistics

Contact: (202) 523-9294

(202) 523-6010

United States ~~

Department ~

of Labor

Washington, D.C. 20212

USDL 83-153

HOLD FOR RELEASE: 10:00 AM EST

Wednesday, April 6, 1983

BUREAU OF LABOR STATISTICS INTRODUCES ITS FIRST MEASURES

OF KULTIFACTOR PRODUCTIVITY

Productivity, as measured by output per unit of combined labor and capital

inputs--multifactor productivity--rose an average of 1.5 percent per year from

1948 to 1981 in the private business sector, according to a new measure

introduced today by the Bureau of Labor Statistics of the U.S. Department of

Labor.

This new series shows the changes in the amount of labor and capital used in

production (table A). As such it reflects the joint effect of many influences,

including changes in technology, the level of output, utilization of capacity,

the organization of production, managerial skills, as well as changes in the

characteristics and efforts of the workforce.

The traditional productivity series--output per hour of all persons--reflects

these influences and also the impact of changes in capital per unit of labor

input. The new measure, therefore, supplements the existing measure b~

providing a basis for measuring that impact.

Over the 1948-81 period, when multifactor productivity increased 1.5 percent per

year, the traditional productivity measure of output per hour rose 2.4 percent

per year. Therefore, the growth in capital per hour contributed 0.9 percentage

point to the growth in output per hour (table B).

The growth in multifactor productivity showed two distinct patterns: 2.0 percent

per year from 1948 to 1973, but only 0.1 percent per year from 1973 to 1981.

This slowdown reflected a falloff in output growth, coupled with a faster growth

of combined inputs of labor and capital. The accelerated increase in inputs of

labor and capital after 1973 was due to the faster increase in the hours of.all

persons since the annual rate of growth of capital was slower after 1973.
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Table A. Average annual rates of growth in productivity indexes and related

measures by major sector, 1948 to 1981 l!

Private Private

Measure business 2/ nonfarm business ]j Manufacturing

1948- 1948- 1973- 1948- 1948- 1973- 1948- 1948- 1973-

1981 1973 1981 1981 1973 1981 1981 1973 1981

Productivity indexes:

Output per hour of

all persons~ •••••••• 2.4 3.0 0.8 2.0 2.5 0.6 2.6 2.9 1.5

Output per unit of

capital services •••• -0.1 0.2 -1.0 -0.1 0.2 -1.1 -0.2 0.6 -2.6

Multifactor

productivity 1/ ••... 1.5 2.0 0.1 1.3 1.7 0.0 1.8 2.2 0.4

Output •••••••••••••••••• 3.3 3.7 2.2 3.4 3.9 2.1 3.3 4.0 1.2

Inputs:

Hours of all persons •• 0.9 0.7 1.4 1.4 1.3 1.5 0.7 1.1 -0.2

Capital services •••••• 3.5 3.6 3.2 3.6 3.6 3.3 3.6 3.5 4.0

Combined labor and

capital inputs ~ ••• 1.8 1.7 2.0 2.1 2.1 2.1 1.6 1.8 0.9

1/ Average annual rates based on compound rate formula.

2/ Excludes government enterprises.

3/ Output per unit of combined labor and capital input.

4/ Hours of all persons combined with capital service inputs index weighted

by labor and capital shares.
-3-

Table B. Average annual rates of growth in output per hour of all personst the

contribution of capital services per hourt and multifactor

productivitYt by major sectort 1948 to 1981 l!

1948- 1948- 1973- SlowMeasure 1981 1973 1981 down

(1) (2) (3) (4)

(Co1.2

-Col.3)

Private business 2/

Output per hour of all persons 2.4 3.0 0.8 -2.2

Minus: Contribution of capital services

per hour 1/ 0.9 1.0 0.7 -0.3

Equals: Multifactor productivity !!./ 1.5 2.0 0.1 -1.9

Private nonfarm business 2/

Output per hour of all persons 2.0 2.5 0.6 -1.9

Minus: Contribution of capital services

per hour 1/ 0.7 0.8 0.6 -0.2

Equals: Multifactor productivity !!./ 1.3 1.7 0.0 -1.7

Manufacturing

Output per hour of all persons 2.6 2.9 1.5 -1.4

Minus: Contribution of capital services

per hour 1/ 0.8 0.7 1.1 0.4

Equals: Multifactor productivity !!./ 1.8 2.2 0.4 -1.8

1/ Average annual rates based on compound rate formula.

2/ Excludes government enterprises.

3/ Change in capital per unit of labor weighted by capital's share of total

output •.

4/ Ouput per unit of combined labor and capital input.
-4-

The traditional productivity measure of output per hour slowed--dropping from a

growth rate of 3.0 percent during the 1948-73 period to 0.8 percent from 1973 to

1981. Of this 2.2 percentage point falloff, 0.3 percentage point was the result

of the slowdown in the growth of capital per unit of labor input. The

balance--that of multifactor productivity growth--reflected the remaining

influences.

Output per unit of capital services, another productivity measure introduced

today, fluctuated between 1948 and 1981 but did not register a significant trend

over the period as a whole (chart A).

Private nonfarm business. From 1948 to 1981, multifactor productivity growth in

this sector averaged 1.3 percent annually as output rose 3.4 percent per year

and combined labor and capital inputs increased 2.1 percent per year (table A).

As was. the case for the private business sector as a whole, after 1973 there was

a marked change in the trend. Multifactor productivity grew 1.7 percent

annually from 1948 to 1973, but did not grow at all after 1973 (table B).

Hence, all of the increase in output during the later period came from increased

inputs of capital and labor.

The traditional productivity measure for the private nonfarm business sector,

output per hour of all persons, rose 2.5 percent per year from 1948 to 1973,

compared with 0.6 percent per year between 1973 and 1981. The 1.9 percentage

point slowdown in output per hour in this sector partly reflects a 0.2

percentage point decline in the contribution of capital services per unit of

labor input. Most of the slowdown, however, was due to the 1.7 percentage point

falloff in multifactor productivity growth, which in turn reflected the impact

of oth~r influences.

As in private business, output per unit of capital input in the private nonfarm

business sector fluctuated from year to year, but there was no evident trend

between 1948 and 1981 (chart B).

Manufacturing. From 1948 to 1981, multifactor productivity grew faster in

manufacturing than in the more comprehensive business sectors. There was a 1.8

percent annual gain, reflecting a 3.3 percent average rise in output coupled

with a 1.6 percent annual increase in combined labor and capital inputs.

The falloff in the multifactor growth rate also occurred in manufacturing after

1973--from a rate of 2.2 percent during the 1948-73 period to 0.4 percent from

1973 to 1981 (table B).

The slowdown in the traditional output per hour indexes for manufacturing after

1973 was 1.4 percentage points, less severe than for the more comprehensive

busirlp.Sss'~ctors. Horeover, the growth of capital per hour in manufacturing

accelerated after 1973. From 1948 to 1973 the growth in capital services per

unit of labor contributed 0.7 percent per year to the growth in output per hour

in manufacturing and, after 1973, 1.1 percent per year.
-5-

The following note briefly describes the major data sources and the procedures

used in deriving the new BLS multifactor productivity indexes. More detailed

information on the methods, limitations, and data sources are available on

request from the Bureau of Labor Statistics.

Tables 1-6 include all the productivity and related indexes for each year.

Summary of Methods

The multifactor productivity indexes are derived by dividing an output index by

an input index which is a weighted average of the hours of all persons and of

capital services. The output indexes are computed from measures of constant

dollar gross domestic product, derived from the national income and product

accounts developed by the Bureau of Economic Analysis of the U.S. Department of

Comme rce •

The labor component of the input indexes is developed from measures of

employment and average hours, drawn mainly from the BLS Current Employment

Statistics program (the "establishment" survey) and the Current Population

Survey (the "household" survey). The establishment survey provides information

about employees on nonagricultural payrolls; the household survey about the

self-employed, unpaid family workers, and those engaged in agriculture. The BLS

has done considerable research on the effects on productivity growth of

workforce composition (changes in the age, sex, and educational structure of the

workforce). This work is not included in the measures published today because

more research is required.

The ca~ital services component of the combined input indexes is developed from

measures of the stock of physical assets--equipment, structures, land, and

inventories--and rental prices for each type of stock. The stock measures, in

turn, are derived from data in the national accounts and other sources on

investment, service lives, and capital deterioration functions. The rental

prices are derived from data on depreciation costs and estimates of rates of

return on the capital assets.

The labor and capital components of the input indexes are combined with weights

which represent each component's share of total output. The index uses changing

weights where the share in each year is averaged with the preceding year's

value.

Data are presented for the private business, private nonfarm business, and

manufacturing sectors. The private business sector, which accounts for about 80

perce.it ,-,t the gross national product includes all activities in the economy

with the exception of general government, government enterprises, the "rest of

world" sector, owner-occupied housing, nonprofit institutions, and private

household employees. The private nonfarm business sector also excludes

agriculture but includes agricultural services.
>

-6-

Table 1. Private business sector: Productivity and related measures, 1948-81. 11

Productivity Inputs

Year Output Per Output Per Multifactor Output Hours of Capital Combined Units Capital per

Hour of All Unit of Productivity All' Persons of Labor and Hour of

Persons Capital JJ ]../ ,Y 2.1 Capital Inputs.~1 All Persons

Indexes 1'177=100

1948 45.3 '1'1.2 60.1 36.8 81.3 37.1 61.3 45.6

194'1 46.0 93.6 5'1.4 36.1 78.6 38.6 60.8 49.1

1950 49.7 '18.7 63.6 39.5 7'1.5 40.0 62.1 50.4

1'151 51.2 100.2 65.1 41.8 IH.8 41.8 64.3 51.1

1'152 52.9 '1'1.4 66.3 43.2 81.8 43.5 65.2 53.2

1'153 54.6 100.7 68.0 45.1 82.6 44.'1 66.4 54.3

1'154 55.6 '16.3 67.8 44.4 79.8 46.1 65.5 57.7

.1'155 57.8 100.'1 70.7 47.'1 82.'1 47.5 67.8 57.3

1'156 58.5 100.0 71.0 4'1.2 84.2 4'1.2 6'1.3 58.5

1'157 60.0 '17.'1 71.6 4'1.7 82.'1 50.7 69.4 61.2

1'158 61.8 '14.3 72.0 48.'1 7'1.0 51.'1 67.8 65.6

195'1 63.9 '1'1.3 74.'1 52.5 82.1 52.9 70.0 64.4

1960 64.8 98.4 75.4 53.3 82.2 54.1 70.7 65.8

1'161 67.0 '18.0 76.'1 54.2 80.'1 55.3 70.5 68.4

1962 6'1.6 101.2 79.7 57.2 82.2 56.6 71.8 68.8

1'163 72.3 102.6 82.0 59.7 82.7 58.2 72.'1 70.4

1'164 75.4 105.2 84.9 63.3 84.0 60.2 74.6 71.6

1'165 78.1 107.8 87.6 67.6 86.7 62.8 77.2 72.4

1'166 80.4 108.0 8'1.3 71.3 88.7 66.1 79.'1 74.5

1'167 82.1 104.9 8'1.6 72.9 88.6 6'1.6 81.4 78.5

1968 85.1 105.5 '11.7 76.7 '10.1 72.7 83.7 80.7

196'1 85.3 103.7 'll.3 78.'1 '12.5 76.1 86.5 82.3

1970 86.1 98.6 '10.2 78.3 '10.9 7'1.4 86.8 87.4

1971 8'1.2 '18.1 '12.2 80.6 '10.4 82.2 87.5 '11.0

1972 92.4 101.0 95.2 86.0 93.2 85.2 '10.4 '11.5

1973 '14.7 103.0 '17.5 '11.8 '16.9 8'1.1 '14.1 92.0

1974 92.4 96.5 91.8 8'1.9 97.2 '13.1 95.8 95.8

1975 94.5 'll.'I '13.6 88.0 93.1 95.7 '14.0 102.8

1'176 '17.6 96.1 '17.1 '13.7 95.'1 97.5 '16.5 101.6

1977 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

1'178 100.6 101.8 101.0 105.5 104.'1 103.6 104.4 '18.8

1979 '19.6 100.3 '19.'1 107.8 108.3 107.5 108.0 '1'1.3

1980 98.8 '15.3 97.6 106.2 107.4 111.3 108.8 103.6

1981 100.6 '15.0 98.6 108.8 108.2 114.5 110.3 105.8

Average annual percent change II

1948-73 3.0 0.2 2.0 3.7 0.,7 3.6 1.7 2.8

1973-81 0.8 -1.0 0.1 2.2 1.4 3.2 2.0 1.8

1'148-81 2.4 -0.1 1.5 3.3 0.9 3.5 1.8 2.6

See footnotes following table 6.
-7-

Table 2. Private nonfarm husiness sector: Productivity and related measures, lQ48-81. II

Productivity Inputs

Year Output Per Output Per Multifactor Output Hours of Capital Comhined Units Capital per

Hour of All llnit of Productivity All Persons of Lahor and Hour of

Persons Capital Jj 1/ !:./ 2/ Capital Inputs £1 All Persons

Indexes lQ77=100

lQ48 51.2 Q8.1 64.6 35.6 6Q.6 36.3 55.1 52.2

lQ4Q 52.3 n.R 64.2 34.Q 66.8 37.7 54.4 56.3

lQ50 55.6 Q8.4 68.2 38.3 6Q.0 39.0 56.2 56.5

lQ51 %.6 100.6 6Q.5 40.Q 72.2 40.6 58.8 56.3

1952 58.0 QQ.7 70.4 42.2 72.8 42.4 60.0 58.2

lQ53 59.0 100.Q 71.5 44.1 74.7 43.7 61.7 58.5

lQ54 5Q.9 96.2 71.0 43.2 72.1 44.Q 60.8 62.3

1955 62.3 100.Q 74.1 46.8 75.1 46.4 63.2 61.7

1956 62.5 100.1 74.0 48.2 77.0 48.1 65.1 62.5

1957 63.6 Q8.0 74.3 48.7 76.6 49.7 65.6 64.Q

lQ58 65.1 Q4.0 74.3 47.8 73.4 50.R 64.3 69.3

195Q 67.4 9Q.5 77.5 51.6 76.6 51.9 66.6 67.7

1960 67.Q 9R.4 77.6 52.3 77.0 53.2 67.5 6Q.l

lQ61 70.0 Q7.Q 78.Q 53.3 76.1 54.4 67.5 71.5

1%2 72.5 101.3 81.7 56.4 77.8 55.7 69.0 71.6

lQ63 74.9 102.6 83.8 58.9 78.6 57.4 70.3 73.0

1964 77 .8 105.5 86.7 62.7 80.5 59.4 72.3 73.8

1965 80.3 108.1 8Q.2 67.0 83.5 62.0 75.1 74.2

lQ66 82.2 108.7 QO.7 71.0 86.4 65.3 78.3 75.7

1967 83.8 105.3 90.7 72.5 86.5 68.Q 79.9 7Q.6

1968 86.7 106.0 92.Q 76.5 88.2 72. I 82.3 81.7

lQ69 86.4 104.1 Q2.1 78.7 Ql.l 75.6 85.4 83.0

1970 86.8 98.6 QO.7 77.Q 8Q.7 78.Q 85.Q 88.0

lQ71 8Q.7 Q8.0 Q2.4 80.1 8Q.3 81.8 86.7 Ql.5

1972 93.0 101.1 Q5.7 85.8 Q2.2 84.8 8Q.7 n.o

1973 Q5.3 103.2 <)7.Q Ql.7 %.2 88.8 Q3.6 ~2.;3

1974 <JT."tT 96.5 94.1 8Q.7 96.6 93.0 Q5.4 96.3

1975 94.7 Ql.7 93.6 87.6 n.5 95.6 93.6 103.3

lQ76 Q7.8 %.1 Q7.2 Q3.6 95.7 Q7.4 96.3 101.8

1977 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

1978 100.6 101.9 101.1 105.7 105.1 103.7 104.6 98.7

1979 9Q.3 100.0 99.6 108.0 108.7 107.Q 108.4 9Q.2

1980 98.4 Q5.1 97.3 106.2 108.0 Ill.7 109.2 103.4

1981 9Q.8 94.4 97.9 108.5 108.8 115.0 110.Q 105.7

Average annual percent change 2!

1948-73 2.5 0.2 1.7 3.9 1.3 3.6 2.1 2.3

lQ73-81 0.6 -1.1 0.0 2.1 1.5 3.3 2.1 1.7

lQ48-81 2.0 -0.1 1.3 3.4 1.4 3.6 2. I 2.2

See footnotes following table 6.
-8-

Table 3. Manufacturing sector: Productivity and related measures, 194R-R1. II

Productivity Inputs

Year Output Per Output Per Multifactor Output Hours of Capital Combined Uni ts Capital per

Hour of All Unit of Productivity All Persons of Lahor and Hour of

Persons Capital lJ 1/ !:..I 51 Capital Input's 2..1 All Persons

Indexes 1977=100

1948 45.1 94.4 56.2 35.R 79.4 37.9 63.7 47.R

1949 46.9 R6.0 56.0 33.9 72.4 39.5 60.6 54.5

1950 49.4 94.9 59.9 3R.6 7R.2 40.7 64.5 52.1

1951 51.1 99.6 62.3 43.0 R4.2 43.2 69.1 51.3

1952 52.0 95.7 62.2 44.5 85.4 46.4 71.4 54.4

1953 52.9 9R.6 63.5 47.5 R9.B 4R.2 74.R 53.7

1954 53.7 R9.2 62.3 44.1 R2.1 49.5 70.R 60.2

1955 56.4 95.R 65.9 4R.9 R6.6 51.0 74.2 5R.R

1956 56.0 92.5 64.R 49.2 R7.9 53.2 75.9 60.5

1957 57.1 R9.6 65.1 49.5 R6.5 55.2 76.0 63.R

195R Sfl.9 RO.5 62.R 45.2 79.4 56.2 71.9 70.7

1959 59.6 89.2 67.0 50.5 R4.7 56.6 75.4 66.9

1960 60.0 RR.O 67.0 50.7 84.4 57.5 75.6 6R.2

1961 61.6 R6.9 6R.0 50.7 R2.3 5R.3 74.6 70.9

1962 64.3 92.9 71.5 55.1 R5.6 59.2 77.0 69.2

1963 6R.9 9R.3 76.3 59.6 R6.5 60.7 7R.2 70.1

1964 72.3 102.4 79.R 63.9 8R.4 62.4 RO.O 70.6

1965 74.5 107.3 R2.R 69.R 93.6 65.1 R4.3 69.5

1966 75.3 108.7 R3.7 75.1 99.R 69.2 R9.R 69.3

1967 75.3 101.1 Rl.8 75.0 99.6 74.2 91.7 74.5

196R 7R.0 101.1 R3.7 79.1 101.4 7R.2 94.4 77 .1

1969 79.3 100.5 R4.6 Rl.7 103.1 Rl.3 96.6 7R.9

1970 79.1 91.R R2.3 77.0 97.3 R3.9 93.6 R6.2

1971 R3.9 92.4 R6.0 7R.7 93.7 R5.2 91.5 90.9

1972 RR.2 99.9 91.1 R6.2 97.R R6.4 94.7 RR.3

1973 93.0 10R.2 'lhR '15.9 103.2 RR.6 99.1 85.9

1974 90.8 99.6 93.0 91.9 101.2 92.2 9R.8 91:1

1975 93.4 89.4 92.2 R5.4 91.4 95.5 92.6 104.4

1976 97.5 96.1 97.1 93.6 95.9 97.4 96.4 101.5

1977 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

1978 100.9 101.5 101.0 105.3 104.4 103.11 104.2 99.4

1979 101.6 99.5 101.0 1011.2 106.5 10R.R 107.2 102.1

---

1980 101.7 90.0 9R.6 103.6 101.8 115.1 105.1 113.1

19R1 104.5 87.5 99.9 105.9 101.3 121.1 106.0 11<).5

Average annual percent change 2/

1948-73 2.9 0.6 2.2 4.0 1.1 3.5 1.R 2.4

1973-81 1.5 -2.6 0.4 1.2 -0.2 4.0 0.9 4.2

1<)4R-81 2.6 -0.2 1.R 3.3 0.7 3.6 1.6 2.R

See footnotes following tahle 6.
-9-

Table 4. Private business sector: Productivity and related measures, 194A-AI. II

Productivity Inputs

Year Output Per Output Per Multifactor Output Hours of Capital Combined Uni ts Capital per

Hour of All Unit of Productivity All Persons of Lahor and Hour of

Persons Capital 1/ 1/ !:..I 2/ Capital Inputs ~I All Persons

Percent chan~e

1949 1.6 -5.6 -1.1 -1.9 -3.4 4.0 -O.A 7.6

1950 A.2 5.5 7.2 9.4 1.2 3.7 2.1 2•.';

1951 2.9 1.5 2.4 5.9 2.9 4.4 3.5 1.4

1952 3.4 -O.A I.A 3.3 0.0 4.2 1.5 4.2

1953 3.3 1.3 2.6 4./~ 1.1 3.1 1.A 2.0

1954 1.7 -4.3 -0.4 -1. A -3.4 2.7 -1.4 6.3

1955 4.1 4.A 4.4 A.I 3.A 3.1 3./\ -0.7

1956 1.1 -0.9 0.3 2.6 1.5 3.6 2.3 2.0

1957 2.6 -2.1 0.9 1.0 -1. '; 3.1 0.1 4.7

I95A 3.1 -3.7 0.7 -1.6 -4.6 2.2 -2.3 7.1

1959 3.3 5.3 4.0 7.3 3.9 2.0 3.2 -1.9

1960 1.5 -O.A 0.6 1.6 0.1 2.4 0.9 2.3

1961 3.4 -0.5 2.0 1.7 -1.6 2.2 -0.3 3.A

1962 3.9 3.2 3.6 5.6 1.6 2.3 1.9 O.fl

1963 3.A 1.4 2.9 4.4 0.6 2.9 1.4 2.4

1964 4.3 2.5 3.6 6.0 1.6 3.4 2.3 1.7

1965 3.6 2.4 3.1 /\.A 3.1 4.3 3.6 1.1

1966 3.1 0.2 1.9 5.5 2.4 5.3 3.5 2.A

1967 2.3 -2.9 0.3 2.2 -0.1 5.3 1.9 5.4

I96A 3.5 0.6 2.4 5.2 1.7 4./\ 2.7 2.9

1969 0.2 -1.7 -0.5 2.9 2.7 4.7 3.4 1.9

1970 0.9 -5.0 -1.2 -O.R -1.7 4.3 0.3 fl.2

I97I 3.6 -0.5 2.2 3.0 -0.6 3.5 O.A 4.1

1972 3.5 3.0 3.3 6.7 3.1 3.6 3.3 0.5

1973 2.6 2.0 2.4 6.6 4.0 4.6 4.2 0.6

1974 -2.4 -6.3 -3.A -2.1 0.4 4.5 1.A 4.2

1975 2.2 -4.7 -0.2 -2.1 -4.2 2.7 -I.A 7.3

1976 3.3 4.5 3.R /\.5 3.0 1.9 2.6 -1.1

1977 2.4 4.0 3.0 6.7 4.2 2.6 3.6 -1.6

I97A 0.6 I.R 1.0 5.5 4.9 3.6 4.4 -1.2

1979 -1.0 -1.4 -1.1 2.2 3.2 3.7 3.4 o. ';

I9AO -O.A -5.0 -2.2 -1.6 -O.A 3.6 0.7 4.4

I9Al I.R -0.3 1.1 2.5 0.7 2.9 1.5 2.1

See footnotes following table 6.
-10-

Table 5. Private nonfarm business sector: Productivity and related measures, 194A-Al. l/

Productivity Inputs

Year Output Per Output Per Multifactor Output Hours of Capital Combined 1Jnits Capital per

Hour of All Unit of Productivity All Persons of Lahor and Hour of

Persons Capital lJ 1/ !:./ 2/ Capital Inputs !!../ All Persons

Percent change

1949 2.2 -5.4 -0.6 -1.9 -4.0 1.7 -1.1 '1.0

1950 6.3 6.0 6.2 9.7 3.2 1.~ 3.1 0.1

1951 1.9 2.2 2.0 6.6 4.6 4.2 4.5 -0.4

1952 2.5 -0.9 1.2 1.4 0.9 4.1 2.1 3.4

1953 1.7 1.2 1.5 4.4 2.6 3.2 2.A n.6

1954 1.5 -4.7 -0.6 -2.n -3.5 2.A -1.4 6.5

1955 4.n 5.n 4.4 A.4 4.2 3.1 1.'1 -0.9

1956 n.3 -n.9 -0.1 2.A 2.5 3.7 3.0 1.2

1957 I.A -2.0 0.4 1.2 -0.6 3.3 O.A 3.9

195A 2.4 -4.1 n.O -1.9 -4.3 2.3 -2.0 6.A

1959 3.5 5.9 4.1 A.O 4.4 2.n 3.5 -2.3

1960 O.A -1.1 n.l 1.4 0.6 2.6 1.1 2.n

1961 3.0 -0.5 1.7 I.A -1.2 2.3 n.l 3.5

1962 3.6 3.4 3.5 5.9 2.2 2.4 2.3 0.2

1963 3.3 1.4 2.5 4.4 1.1 1.0 1.A 1.9

1964 3.9 2.A 3.5 6.4 2.4 3.5 2.A 1.1

1965 3.1 2.5 2.9 7.n 3.7 4.4 4.0 0.7

1966 2.4 0.5 1.7 5.9 1.4 5.4 4.2 1.9

1967 1.9 -3.1 o.n 2.1 0.2 5.4 2.1 5.2

196A 3.4 n.7 2.4 5.4 2.0 4.7 3.0 2.7

1969 -0.3 -1.'1 -n.A 2.9 3.2 4.'1 3.'1 1.5

1970 0.4 -5.1 -1.6 -1.1 -1.5 4.5 0.5 6.n

1971 3.4 -0.6 2.0 2.9 -0.4 3.6 n.9 4.0

1972 3.7 3.2 3.5 7.n 3.2 3.7 3.4 0.5

1973 2.5 2.1 2.3 6.9 4.3 4.7 4.5 0.4

1974 -2.5 -6.5 -3.9 -2.2 0.4 4.7 1.A 4.3

1975 2.n -5.n -0.5 -2.4 -4.3 2.'1 -1.9 7.4

1976 3.3 4.9 3.R 6.9 3.5 1.9 2.9 -1.5

1977 2.2 4.0 2.9 6.A 4.5 2.7 3.R -1.'1

197R 0.6 1.9 1.1 5.7 5.1 3.7 4.6 -1.3

1979 -1.3 -1.A -1.5 2.1 3.5 4.n 3.7 0.5

19RO -0.9 -5.n -2.3 -1.6 -0.7 3.5 0.7 4.2

19R1 1.4 -O.R 0.7 2.2 n.R 3.0 1.5 2.2

!':eefootnotes following table Ii.
-11-

Table 6. Manufacturing sector: Productivity and related measures, 1C14R-R1. 1/

Productivity Inputs

Year Output Per Output Per Multifactor Output Hours of Capital Combinerl Units Capital per

Hour of All Unit of Productivity All Persons of Labor and Hour of

Persons Capital 1./ 1/ !:./ 2/ Capital Inputs fl./ All Persons

Percent chanRe

1C14C1 4.0 -R.CI -0.4 -5.2 -R.CI 4.0 -4.CI 14.1

1C150 5.4 10.4 7.1 11.CI R.O 1.2 6.1 -4.5

1C151 3.4 4.CI 3.CI 11.4 7.7 6.2 7.2 -1.4

1C152 1.R -3.CI -0.1 1.1 1.4 7.5 3.4 5.CI

1C151 1.7 3.0 2.1 6.CI 5.1 3.7 4.7 -1.1

1C154 1.6 -1).6 -2.0 -7.2 -R.6 2.7 -5.3 12.1

~Cl55 5.0 7.5 5.R 10.R 5.5 1.1 4.7 -2.3

1C156 -0.7 -1.4 -1.6 0.7 1.5 4.3 2.4 2.R

1C157 2.1 -3.2 0.4 0.5 -1.5 3.R 0.1 5.4

1C15R -0.4 -10.2 -3.4 -R.6 -R.2 1.7 -5.4 10.0

1C15C1 4.R 10.R 6.6 11.7 6.6 O.R 4.R -5.4

1%0 0.7 -1.3 0.1 0.3 -0.1 1.6 0.3 1.CI

1961 2.7 -1.2 1.5 0.1 -2 •.5 1.4 -1.4 4.0

1C162 4.3 6.CI 5.1 R.6 4.1 1.6 1.3 -2.4

1963 7.2 5.7 6.7 R.1 1.0 2.4 1.5 1.4

1C164 4.R 4.2 4.6 7.1 2.2 2.CI 2.4 0.6

1C165 3.1 4.R 3.7 0.2 5.0 4.2 5.3 -1.6

1966 1.1 1.3 1.2 7.7 6.5 6.1 6.5 -0.2

1967 0.0 -7.0 -2.3 -0.2 -0.2 7.2 2. 1 7.5

1%R 1.5 0.0 2.4 5.5 1.CI 5.4 1.0 3.5

1Cl6C1 1.7 -0.6 1.0 3.4 1.6 3.CI 2.3 2.3

1C170 -0.2 -R.7 -2.7 -5.R -5.6 1.2 -3.2 0.3

1971 6.1 0.6 4.5 2.2 -3.7 1.6 -2.2 5.5

1C172 5.0 R.1 6.0 CI.6 4.3 1.4 3.4 -2.R

1C173 5.4 R.4 6.3 11.2 5.5 2.6 4.6 -2.R

1974 -2.4 -7.1) -3.CI -4.2 -l.CI 4.1 -0.3 6.1

1C175 2.CI -10.1 -0.0 -7.1 -Cl.7 1.5 -6.2 14.6

1C176 4.4 7.4 5.1 CI.6 4.CI 2.0 4.1 -2.R

1C177 2.5 4.1 1.0 6.CI 4.2 2.7 1.R -1.5

197R O.CI 1.5 1.0 5.3 4.4 3.R 4.2 -0.6

1C17C1 0.7 -2.0 -0.1 2.7 2.0 4.R 2.R 2.7

1C1RO 0.2 -Cl.5 -2.4 -4.3 -4.5 5.R -1. CI In.7

19R1 2.R -2.R 1.4 2.3 -0.5 5.2 O.CI 5.7

See footnotes following table 6.
-12-

Footnotes, Tables 1-6

SOURCE: Output data from Bureau of Economic Analysis (BEA), U.S. Department of

Commerce, and the Federal Reserve Board. Compensation and hours data

from the Bureau of Labor Statistics, U.S. Department of Labor, and

BEA. Capital measures are based on data supplied by BEA and U.S.

Department of Agriculture.

(1) The private business sector includes all of Gross National Product

except the rest-of-world sector, the rental value of

owner-occupied real estate, the output arising in nonprofit

organizations, the rental value of real estate occupied by

nonprofit organizations, the output of paid employees of private

households, government, and the statistical discrepancy in

preparing the national income accounts. The private nonfarm

business sector also excludes farms, but includes agricultural

services.

(2) Output per unit of combined labor and capital inputs.

(3) Gross Domestic Product originating in the sector, in constant

dollars.

(4) Paid hours of all employees, plus the hours of proprietors and

unpaid family workers engaged in the sector.

(5) A measure of the flow of capital services used in the s~ctor.

(6) Hours of all persons combined with capital input, using labor and

capital shares of output as weights.

(7) Average annual percent change based on compound rate formula.
-13-

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