- 1 -

Internet address: http://stats.bls.gov       USDL: 00-121
Technical information: (202) 691-5654        For Release: 10:00 A.M. EDT
Media contact: (202) 691-5902                Friday, April 28, 2000 



INTERNATIONAL COMPARISONS OF MANUFACTURING PRODUCTIVITY
AND UNIT LABOR COST TRENDS, REVISED DATA FOR 1998

    In the United States, labor productivity in manufacturing increased 
in 1998 by 4.7 percent, according to revised data from the Bureau of 
Labor Statistics, U.S. Department of Labor.  The U.S. achieved the 
highest productivity growth rate among the 11 countries being compared.  
The countries with the next largest increases were the former West 
Germany and France.  Only one country, Japan, experienced a 
productivity decline.  (See chart 1.)

    These estimates represent revisions to the data contained in a news 
release (USDL: 99-235) issued August 27, 1999, and are based on data 
available as of December 1999.  The U.S. manufacturing output series 
used for international comparisons differs from the manufacturing 
series that BLS publishes quarterly on U.S. productivity and costs.  
Labor productivity for this release is computed as value added output 
per hour worked.  (See technical notes.)

PRINTED COPY CONTAINS CHART AT THIS POINT
Chart 1. Percent change in manufacturing output per hour, 1998


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    Unit labor costs - the cost of labor input required to produce one 
unit of output - are computed as the ratio of labor costs in nominal 
terms divided by real output.  Unit labor costs also can be expressed 
as the ratio of hourly compensation to labor productivity.  An increase 
in productivity represents a decrease in the amount of labor input used 
to produce a unit of output; thus, an increase in productivity can 
offset an increase in compensation per hour in its effects on unit 
labor costs.

    In 1998, unit labor costs in manufacturing, expressed in national 
currency units, rose in 8 of the 14 countries compared and declined in 
the other 6.  The United States experienced a slight increase (0.5 
percent).  The largest increases were in the United Kingdom (4.6 
percent) and Norway (3.9 percent).  The largest declines occurred in 
Korea (-7.7 percent) and the former W. Germany (-3.3 percent).  (See 
table A.)

    In order to properly assess international competitiveness trends in 
manufactured products, it is essential to take into account changes in 
exchange rates.  Converted to U.S. dollars at market exchange rates, 
1998 unit labor costs declined in all the countries except the U.S. and 
the U.K.  The steepest declines occurred in Asia, especially in Korea 
and Taiwan.  (See chart 2.)

    The declines in unit labor costs in U.S. dollars occurred because 
the exchange rates of all the currencies, except the U.K. pound, fell 
against the U.S. dollar during 1998.  These drops were especially sharp 
for Korea and Taiwan, where exchange rates fell 32.1 and 14.2 percent 
against the dollar, respectively.  The drops in exchange rates offset 
any increases in unit labor costs in national currency units.  (See 
table A.)

PRINTED COPY CONTAINS CHART AT THIS POINT
Chart 2. Percent change in manufacturing unit labor costs (U.S. dollar 
basis), 1998


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    Table A summarizes changes in manufacturing productivity, unit 
labor costs, and related variables between 1997 and 1998.  Output and 
unit labor cost data are presented for all 14 economies.  Comparable 
productivity data are not shown for Korea, Taiwan, and Denmark.  (See 
technical notes.)  Except for the U.K. and Japan, output per hour rose 
because output increased more than hours.  For the U.K., positive 
productivity growth was due to an increase in output and a decrease in 
hours.  Japan's negative growth in productivity was the result of a 
decline in output greater than the decline in hours.  

    Unit labor costs are affected by the degree and direction of a 
change in both hourly compensation and productivity.  Except for Japan, 
the countries with rising unit labor costs saw hourly compensation 
increase more than productivity.  Japan's hourly compensation rose 
while productivity declined.

    The fall in unit labor costs for Italy can be attributed to a 
decrease in hourly compensation combined with an increase in 
productivity.  For France and the former W. Germany, hourly 
compensation rose to a lesser degree than productivity did, causing 
negative growth of unit labor costs.  Hours worked series are not 
available for the remaining three countries that experienced a decrease 
in unit labor costs in 1998.


Table A.  Manufacturing productivity and labor costs in 14 countries or areas
Percent change, 1997-98


                    Output                                             Total    Hourly    Unit labor costs
Country                per                       Employ-   Average   compen-   compen-   National      U.S.  Exchange
or area               hour    Output     Hours      ment     hours    sation    sation   currency   dollars   rate (1)


United States          4.7       4.8       0.1       0.5     - 0.4       5.4       5.3       0.5       0.5      ---

Canada                 0.7       3.9       3.2       3.7     - 0.6       7.2       3.9       3.2     - 3.7     - 6.7
Japan                - 0.8     - 6.7     - 5.9     - 3.9     - 2.1     - 4.4       1.7       2.5     - 5.3     - 7.6
Korea (2)              NA      - 7.2       NA        NA        NA      -14.4       NA      - 7.7     -37.4     -32.1
Taiwan (2)             NA        3.9       NA        NA        NA        2.7       NA      - 1.1     -15.2     -14.2
Belgium                0.6       2.6       1.9       1.7       0.2       2.7       0.8       0.1     - 1.3     - 1.4
Denmark (3)            NA        5.1       NA        2.3       NA        3.1       NA      - 2.0     - 3.3     - 1.4
France                 3.4       3.9       0.5       0.2       0.2       1.9       1.4     - 1.9     - 2.9     - 1.0

Germany (4)            4.3       5.2       0.8     - 0.2       1.1       1.7       0.8     - 3.3     - 4.7     - 1.4
Italy                  0.2       1.9       1.7       1.9     - 0.2       0.8     - 0.9     - 1.1     - 3.0     - 1.9
Netherlands            1.7       2.2       0.4       0.6     - 0.2       2.6       2.2       0.4     - 1.2     - 1.6
Norway                 2.1       2.8       0.7       0.6       0.0       6.8       6.1       3.9     - 2.5     - 6.2
Sweden                 2.2       4.4       2.2       2.3     - 0.1       5.0       2.7       0.6     - 3.3     - 3.9
United Kingdom         1.1       0.4     - 0.7     - 0.4     - 0.3       5.0       5.7       4.6       5.9       1.2

(1)  Value of foreign currency relative to the U.S. dollar.
(2)  Productivity not available because suitable labor input measures have not been developed by BLS.
(3)  Labor input data have not been produced for 1994-1998 by the Danish national statistical agency.
(4)  Data relate to the former West Germany.

NA=Not Available






    Although the productivity measure relates output to the hours worked 
of persons employed in manufacturing, it does not measure the specific 
contributions of labor as a single factor of production.  Rather, it 
reflects the joint effects of many influences, including new
technology, capital investment, capacity utilization, energy use, and 
managerial skills, as well as the skills and efforts of the work force.


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    Table B (pages 7-11) shows average annual percent changes for 
selected periods beginning in 1979.  Annual indexes of the data are in 
tables 1-15 (pages 17-31).


BOX: Notes about the measures

The measures in this news release are based on data available to BLS as 
of December 1999.  Revisions for 1998 and some earlier years were made 
to the measures for several countries to incorporate data not available 
at the time of the August 1999 news release (USDL: 99-235). Data for the 
Netherlands have been revised to provide estimates on the basis of the 
European System of Integrated National Accounts (ESA 95), as well as on 
an all-employed persons basis.

The U.S. manufacturing output measure
The output measure for the United States is the chain-weighted index of 
real gross product originating (deflated value added), introduced by the 
Bureau of Economic Analysis (BEA), U.S. Department of Commerce, in 
August 1996.  This series is based on annually changing price weights.

The U.S. output data through 1997 were published by BEA in November 
1998.  The data incorporate the results of the comprehensive revision of 
the national income and product accounts (NIPAs) released in May 1997; 
the estimates for 1995-97 also incorporate the results of the annual 
NIPA revisions released in July 1998.  Updated and revised data through 
1998, including revisions due to the 1999 comprehensive NIPA revision, 
are expected to be released by BEA in May 2000.

The BLS estimate of 1998 real output was derived by extrapolating the 
1997 number forward, using the annual growth rate of the Federal Reserve 
Board's (FRB) Industrial Production Index for Total Manufacturing.  The 
FRB revised its index series in November 1999.  The upward revision of 
the index results in an upward revision of U.S. output in 1998.

The U.S. output series used for international comparisons differs from 
the manufacturing series that BLS publishes in its news releases on 
quarterly measures of U.S. productivity and costs.  While both series 
are based on annually-changing price weights, the international 
comparisons program uses a value added output concept, while the 
quarterly U.S. manufacturing series is on a sectoral output basis.  For 
information on the differences between the value added and the sectoral 
output measures, see technical notes.

New measures of National Accounts
Member states of the European Union are implementing the European System 
of Integrated National Accounts (ESA 95).  Some other countries are 
adopting the System of National Accounts recommended by the United 
Nations (SNA 93), the system on which ESA 95 is based.  Revisions due to 
these conversions to new systems are incorporated in this news release.

END OF BOX: Notes about the measures


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Productivity, output, and labor input

    During 1998, the rate of productivity increase slowed in seven 
countries and declined in one.  The slowdown was especially strong in 
Belgium (from 6.1 percent in 1997 to 0.6 percent in 1998) and Sweden 
(from 6.5 percent in 1997 to 2.2 percent in 1998).  In Japan, 
productivity fell by 0.8 percent in 1998, reversing the country's 
positive growth of 4.9 percent in 1997.  Overall, there was a slowdown 
or actual decline in output growth in 11 of 14 countries and a more 
rapid expansion of hours worked, or reversals of the previous year's 
declines, in 7 of 11 countries.  (See table B.)

    Three countries had greater 1998 productivity growth relative to 
1997 -- the United States, the United Kingdom, and Norway.  The U.S. 
productivity growth was the highest of all countries in 1998 at 4.7 
percent, up from 4.1 percent in 1997.  The U.K. productivity measure 
rose from 0.8 to 1.1 percent.  Norway reversed a decline in 
productivity, from -0.1 percent to 2.1 percent.  All three countries' 
productivity rates rose as a result of small changes in hours worked -- 
upward for the U.S. and Norway and downward for the U.K.  (See table B.)

    Most countries experienced slower growth in manufacturing output 
in 1998 compared with 1997.  Two of the East Asian economies saw a 
decline in output, reflecting their economic slowdowns.  Japan's output 
declined by 6.7 percent after a 4.1 percent rise in 1997.  Korean output 
fell by 7.2 percent after a 6.6 percent increase the previous year.  
Taiwan experienced only a slowdown of output growth from 6.6 percent to 
3.9 percent, which was still well below the economy's average annual 
growth rate since 1979.  Denmark experienced an expansion in the rate of 
output growth, from 2.1 to 5.1 percent, and former W. Germany's rose, 
from 3.6 to 5.2 percent.  Norwegian output growth was unchanged, at 2.8 
percent.  (See table B.)

    Contrary to a generally declining trend in hours over the last 
several years, 9 of the 11 countries for which estimates are available 
showed increases in aggregate manufacturing hours worked in 1998, driven 
by growth in employment for most countries; in the former W. Germany, 
the cause was growth in average hours.  Total hours worked declined in 
Japan and the United Kingdom, due to falls in both employment and 
average hours.  The other economies studied recorded an increase in 
total hours.  For the U.S., Canada, Italy, the Netherlands, and Sweden, 
employment grew as average hours fell.  For Belgium, France, and Norway, 
employment rose as average hours rose or did not change.  The former W. 
Germany was the only economy in which employment fell while average 
hours rose.  (See tables A and B.)

Hourly compensation and unit labor costs

    Hourly compensation measures are affected by both total 
compensation and hours worked.  Of the four countries with faster growth 
of hourly compensation in 1998 compared with 1997, three also had higher 
productivity growth in 1998 than in 1997 -- the U.S., the U.K., and 
Norway.

    In nominal terms, hourly compensation in U.S. manufacturing 
increased 5.3 percent in 1998, following a 3.7 percent rise in 1997.  
This increase was above the annual average since 1979.  (See table B.)  
Only Norway (6.1 percent) and the U.K. (5.7 percent) reported larger 
increases in hourly compensation during 1998, expressed in their 
national currencies.


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    Italy's negative growth rate of hourly compensation (-0.9 percent) 
was due to slower growth of aggregate labor compensation (0.8 percent) 
relative to the increase in hours worked (1.7 percent).  Japan's hourly 
compensation rose because the decline in compensation (-4.4 percent) was 
less than the drop in hours worked (-5.9 percent).  (See table B.)

    For 1998, unit labor costs expressed in national currency units 
were up in 8 of the 14 countries and declined in the other 6.  Except 
for Denmark, Italy, and Norway, the economies being compared saw either 
higher or less negative unit labor cost growth rates in 1998 compared 
with 1997.

    Unit labor costs in U.S. manufacturing grew by 0.5 percent in 
1998, reversing the decline of previous years.  This increase was higher 
than the U.S. average during the 1990-98 period.  

    The largest increases in unit labor costs in 1998, expressed in 
national currency units, occurred in the U.K. (4.6 percent), Norway (3.9 
percent), and Canada (3.2 percent).  All three resulted from a strong 
rise in hourly compensation, combined with only moderate growth in labor 
productivity.  The U.K. and Norway also are the countries, along with 
Denmark, that had the greatest unit labor cost increases in 1997.  (See 
table B.)

    The largest declines in unit labor costs in 1998 occurred in Korea 
(-7.7 percent) and in the former W. Germany (-3.3 percent), but were 
less marked than the previous year's declines for both countries.  
Denmark and Italy's unit labor costs also declined in 1998 (by -2.0 and 
-1.1 percent, respectively).  These two countries' 1998 unit labor cost 
growth rates reversed direction from 1997 because, in 1998, their output 
grew faster than compensation.  (See table B.)

    For the second successive year, the exchange rates of all the 
currencies except the U.K. pound declined against the U.S. dollar during 
1998.  The largest drops took place in East Asia: Korean won (down 32.1 
percent), Taiwanese dollar (down 14.2 percent), and Japanese yen (down 
7.6 percent).  Some other currencies also showed steep declines: 
Canadian dollar (down 6.7 percent), Norwegian krone (down 6.2 percent), 
and Swedish krona (down 3.9 percent).  

    Currencies of other European countries also declined against the 
dollar, but more modestly, between 1.0 and 1.9 percent.  This was a 
noticeable change from 1997, when most of these same currencies 
experienced double-digit declines against the dollar.  (See table B.)

    The result of these exchange rate movements is that 1998 unit 
labor costs expressed in U.S. dollars declined in all the countries 
except the U.S. and the U.K.  (See chart 2 and table B.)  The steepest 
declines in U.S. dollar-denominated unit labor costs occurred in 
countries where declines in national currency-denominated unit labor 
costs were deepened by a steep depreciation of the exchange rate (Korea 
and Taiwan).  

    In a number of cases, the exchange rate depreciation was large 
enough to overcome an increase in national-currency unit labor costs and 
result in a fall in unit labor costs expressed in U.S. dollars (Japan, 
Canada, Belgium, the Netherlands, Norway, and Sweden).  (See table B.)


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Table B.  Output per hour, hourly compensation, unit labor costs, and related measures
Manufacturing, 14 countries or areas, 1979-98

Average annual rates of change 1/

Country                    1979-98     1979-85    1985-90    1990-98     1995       1996       1997       1998
or area


  Output per hour

United States                 3.1        3.3        2.2        3.4        6.1        2.1        4.1        4.7

Canada                        1.9        2.3        1.2        2.0        2.5       -1.4        3.4        0.7
Japan                         3.5        3.5        4.3        2.9        7.4        5.9        4.9       -0.8
Korea                         NA         NA         NA         NA         NA         NA         NA         NA
Taiwan                        NA         NA         NA         NA         NA         NA         NA         NA
Belgium                       3.7        6.0        2.2        3.0        4.5        1.3        6.1        0.6
Denmark                       NA         2.1        0.5        NA         NA         NA         NA         NA
France                        3.5        3.0        3.4        3.9        5.4        0.5        7.2        3.4

Germany 2/                    2.6        2.1        2.1        3.2        3.0        3.5        5.9        4.3
Italy                         3.3        4.9        2.5        2.6        3.5        0.9        2.8        0.2
Netherlands                   3.3        4.4        2.1        3.3        4.4        1.7        5.0        1.7
Norway                        1.5        2.4        1.4        0.9        0.5        0.1       -0.1        2.1
Sweden                        3.4        3.0        1.8        4.6        5.4        2.5        6.5        2.2
United Kingdom                3.3        4.1        4.1        2.2       -1.9       -1.5        0.8        1.1


       Output

United States                 2.7        2.0        2.2        3.5        6.6        1.7        5.9        4.8

Canada                        2.1        1.4        1.8        2.8        5.0        1.2        6.5        3.9
Japan                         3.1        4.7        4.8        0.9        5.5        6.1        4.1       -6.7
Korea                         8.7        8.8       13.2        5.9       11.3        6.8        6.6       -7.2
Taiwan                        6.4        8.1        7.0        4.9        6.0        4.5        6.6        3.9
Belgium                       2.0        2.6        2.5        1.3        2.7        0.0        4.6        2.6
Denmark                       2.0        2.9       -0.2        2.6        5.0        2.7        2.1        5.1
France                        1.3       -0.4        2.6        1.8        4.5       -0.3        5.5        3.9

Germany 2/                    0.8        0.2        2.3        0.2        0.2       -1.3        3.6        5.2
Italy                         2.2        1.7        3.9        1.5        4.9       -0.5        3.5        1.9
Netherlands                   2.2        1.8        3.1        1.9        3.5        0.5        5.3        2.2
Norway                        0.6        0.6       -1.6        1.9        2.1        1.1        2.8        2.8
Sweden                        2.5        2.2        1.2        3.6       12.5        2.2        5.5        4.4
United Kingdom                0.8       -1.2        3.4        0.6        1.5        0.4        1.3        0.4

                                                                                Continued on next page
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Table B.  Output per hour, hourly compensation, unit labor costs, and related measures
Manufacturing, 14 countries or areas, 1979-98

Average annual rates of change 1/

Country                    1979-98     1979-85    1985-90    1990-98     1995       1996       1997       1998
or area


    Total hours

United States                -0.3       -1.2        0.0        0.1        0.4       -0.4        1.8        0.1

Canada                        0.2       -0.8        0.6        0.8        2.4        2.7        3.0        3.2
Japan                        -0.4        1.1        0.5       -2.0       -1.8        0.2       -0.8       -5.9
Korea                         NA         NA         NA         NA         NA         NA         NA         NA
Taiwan                        NA         NA         NA         NA         NA         NA         NA         NA
Belgium                      -1.6       -3.2        0.4       -1.7       -1.7       -1.3       -1.4        1.9
Denmark                       NA         0.8       -0.6        NA         NA         NA         NA         NA
France                       -2.1       -3.2       -0.8       -2.0       -0.9       -0.7       -1.6        0.5

Germany 2/                   -1.8       -1.9        0.2       -2.9       -2.7       -4.7       -2.2        0.8
Italy                        -1.1       -3.1        1.3       -1.0        1.3       -1.4        0.7        1.7
Netherlands                  -1.1       -2.5        1.0       -1.3       -0.9       -1.2        0.3        0.4
Norway                       -0.9       -1.8       -2.9        1.0        1.5        1.0        3.0        0.7
Sweden                       -0.8       -0.8       -0.5       -1.0        6.7       -0.3       -1.0        2.2
United Kingdom               -2.5       -5.1       -0.6       -1.6        3.4        1.9        0.5       -0.7


     Employment

United States                -0.6       -1.4       -0.1       -0.2        1.1       -0.3        1.0        0.5

Canada                        0.1       -0.8        0.4        0.5        2.9        1.4        2.8        3.7
Japan                         0.2        1.2        0.8       -0.9       -2.5       -0.6       -0.1       -3.9
Korea                         NA         NA         NA         NA         NA         NA         NA         NA
Taiwan                        NA         NA         NA         NA         NA         NA         NA         NA
Belgium                      -1.5       -2.6       -0.3       -1.5       -0.6       -1.7       -1.5        1.7
Denmark                       0.1        1.0       -0.2       -0.3        2.4       -0.3        1.6        2.3
France                       -1.7       -2.2       -0.9       -1.9       -0.3       -0.9       -1.4        0.2

Germany 2/                   -1.1       -1.1        1.1       -2.4       -2.2       -3.1       -2.3       -0.2
Italy                        -1.2       -2.9        0.3       -0.9        1.2       -0.6        0.3        1.9
Netherlands                  -0.9       -2.2        1.2       -1.2       -1.2       -1.1        0.7        0.6
Norway                       -0.9       -1.8       -2.7        0.9        2.4        1.6        3.4        0.6
Sweden                       -1.4       -1.2       -0.8       -2.1        4.8       -0.7       -1.1        2.3
United Kingdom               -2.4       -4.8       -0.8       -1.6        2.5        1.8        0.5       -0.4

                                                                                 Continued on next page

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Table B.  Output per hour, hourly compensation, unit labor costs, and related measures
Manufacturing, 14 countries or areas, 1979-98

Average annual rates of change 1/

Country                    1979-98     1979-85    1985-90    1990-98     1995       1996       1997       1998
or area


   Average hours

United States                 0.2        0.2        0.1        0.3       -0.7       -0.1        0.7       -0.4

Canada                        0.2        0.0        0.2        0.3       -0.5        1.3        0.2       -0.6
Japan                        -0.6        0.0       -0.3       -1.1        0.7        0.8       -0.6       -2.1
Korea                         NA         NA         NA         NA         NA         NA         NA         NA
Taiwan                        NA         NA         NA         NA         NA         NA         NA         NA
Belgium                      -0.1       -0.6        0.7       -0.1       -1.1        0.4        0.1        0.2
Denmark                       NA        -0.3       -0.5        NA         NA         NA         NA         NA
France                       -0.4       -1.1        0.1       -0.1       -0.6        0.1       -0.2        0.2

Germany 2/                   -0.7       -0.8       -0.9       -0.5       -0.5       -1.6        0.2        1.1
Italy                         0.2       -0.1        1.0       -0.1        0.1       -0.8        0.4       -0.2
Netherlands                  -0.2       -0.3       -0.2       -0.1        0.3       -0.1       -0.4       -0.2
Norway                       -0.1        0.0       -0.2        0.0       -0.9       -0.6       -0.4        0.0
Sweden                        0.6        0.4        0.3        1.1        1.8        0.4        0.1       -0.1
United Kingdom                0.0       -0.3        0.2        0.0        0.9        0.1        0.0       -0.3


Labor compensation in manufacturing 3/:  National currency basis

United States                 4.4        5.8        3.9        3.6        2.6        1.0        5.5        5.4

Canada                        5.3        7.5        5.7        3.5        5.7        1.9        6.9        7.2
Japan                         3.6        5.9        5.1        1.1        0.7        1.6        1.9       -4.4
Korea                        14.8       18.9       20.0        8.9       23.8       12.2       -2.2      -14.4
Taiwan                       10.1       15.9       10.7        5.5        6.1        4.2        5.0        2.7
Belgium                       3.2        4.7        4.0        1.5        1.1        1.3        1.3        2.7
Denmark                       5.1        9.0        4.6        2.7        5.9        1.5        5.6        3.1
France                        4.1        9.1        3.6        0.8        1.6        1.0        0.9        1.9

Germany 2/                    3.3        4.0        5.2        1.5        2.4        0.2        0.1        1.7
Italy                         7.9       13.1        8.3        3.9        6.0        5.7        4.9        0.8
Netherlands                   2.4        2.3        3.1        2.0        1.4        1.1        2.6        2.6
Norway                        5.9        8.0        4.7        5.0        6.1        5.1        8.0        6.8
Sweden                        6.1        8.7        7.9        3.1       12.1        6.5        3.3        5.0
United Kingdom                5.3        5.9        8.1        3.1        4.3        2.7        3.6        5.0

                                                                                Continued on next page

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Table B.  Output per hour, hourly compensation, unit labor costs, and related measures
Manufacturing, 14 countries or areas, 1979-98

Average annual rates of change 1/

Country                    1979-98     1979-85    1985-90    1990-98     1995       1996       1997       1998
or area


Hourly compensation 3/:  National currency basis

United States                 4.7        7.2        3.9        3.5        2.1        1.3        3.7        5.3

Canada                        5.1        8.4        5.1        2.7        3.2       -0.7        3.7        3.9
Japan                         4.0        4.7        4.6        3.1        2.6        1.4        2.7        1.7
Korea                         NA         NA         NA         NA         NA         NA         NA         NA
Taiwan                        NA         NA         NA         NA         NA         NA         NA         NA
Belgium                       4.9        8.1        3.7        3.2        2.9        2.6        2.8        0.8
Denmark                       NA         8.1        5.3        NA         NA         NA         NA         NA
France                        6.3       12.8        4.5        2.9        2.5        1.7        2.6        1.4

Germany 2/                    5.1        6.0        5.0        4.5        5.3        5.1        2.3        0.8
Italy                         9.1       16.7        6.8        5.0        4.6        7.2        4.2       -0.9
Netherlands                   3.5        5.0        2.1        3.4        2.2        2.3        2.3        2.2
Norway                        6.9       10.0        7.8        4.0        4.6        4.1        4.8        6.1
Sweden                        7.0        9.6        8.5        4.2        5.0        6.8        4.3        2.7
United Kingdom                8.0       11.6        8.8        4.8        0.8        0.7        3.0        5.7


Unit labor costs:  National currency basis

United States                 1.6        3.7        1.7        0.1       -3.8       -0.7       -0.3        0.5

Canada                        3.1        5.9        3.8        0.7        0.7        0.7        0.4        3.2
Japan                         0.5        1.2        0.3        0.2       -4.5       -4.3       -2.1        2.5
Korea                         5.6        9.2        6.0        2.8       11.3        5.1       -8.3       -7.7
Taiwan                        3.5        7.3        3.5        0.6        0.1       -0.2       -1.5       -1.1
Belgium                       1.1        2.0        1.5        0.2       -1.5        1.3       -3.1        0.1
Denmark                       3.1        5.9        4.8        0.1        0.9       -1.2        3.4       -2.0
France                        2.8        9.5        1.0       -1.0       -2.8        1.3       -4.3       -1.9

Germany 2/                    2.5        3.8        2.8        1.3        2.2        1.6       -3.4       -3.3
Italy                         5.6       11.2        4.2        2.3        1.1        6.2        1.3       -1.1
Netherlands                   0.2        0.5        0.0        0.1       -2.1        0.6       -2.5        0.4
Norway                        5.3        7.4        6.4        3.0        4.0        4.0        5.0        3.9
Sweden                        3.5        6.4        6.6       -0.4       -0.3        4.2       -2.1        0.6
United Kingdom                4.5        7.2        4.5        2.6        2.7        2.3        2.2        4.6

                                                                                 Continued on next page
 - 11 -


Table B.  Output per hour, hourly compensation, unit labor costs, and related measures
Manufacturing, 14 countries or areas, 1979-98

Average annual rates of change 1/

Country                    1979-98     1979-85    1985-90    1990-98     1995       1996       1997       1998
or area


Unit labor costs:  U.S. dollar basis

United States                 1.6        3.7        1.7        0.1       -3.8       -0.7       -0.3        0.5

Canada                        1.9        3.3        7.1       -2.3        0.2        1.3       -1.2       -3.7
Japan                         3.2       -0.3       10.8        1.4        3.8      -17.3      -12.0       -5.3
Korea                        -0.1       -0.8       10.2       -5.6       16.2        0.8      -22.3      -37.4
Taiwan                        3.8        5.5       12.0       -2.1       -0.1       -3.7       -6.0      -15.2
Belgium                       0.0       -9.3       13.8       -0.8       11.7       -3.6      -16.2       -1.3
Denmark                       1.8       -5.8       16.7       -0.9       14.5       -4.6       -9.3       -3.3
France                        1.0       -3.3       11.6       -2.0        8.2       -1.3      -16.2       -2.9

Germany 2/                    2.7       -4.1       15.9        0.3       15.7       -3.3      -16.2       -4.7
Italy                         1.6       -3.2       14.4       -2.3        0.0       12.2       -8.2       -3.0
Netherlands                   0.3       -7.6       12.8       -1.0       11.0       -4.3      -15.8       -1.2
Norway                        3.1       -1.7       13.3        0.6       15.8        2.0       -4.3       -2.5
Sweden                        0.2       -5.2       14.8       -4.0        7.7       10.9      -14.1       -3.3
United Kingdom                3.2       -1.3       11.4        1.6        5.9        1.1        7.3        5.9


 Exchange rates 4/

United States                 0.0        0.0        0.0        0.0        0.0        0.0        0.0        0.0

Canada                       -1.2       -2.5        3.2       -3.0       -0.4        0.6       -1.5       -6.7
Japan                         2.7       -1.5       10.5        1.3        8.7      -13.6      -10.1       -7.6
Korea                        -5.4       -9.2        3.9       -8.1        4.4       -4.0      -15.3      -32.1
Taiwan                        0.4       -1.7        8.2       -2.7       -0.1       -3.5       -4.5      -14.2
Belgium                      -1.1      -11.1       12.2       -1.0       13.4       -4.8      -13.5       -1.4
Denmark                      -1.3      -11.0       11.4       -1.0       13.5       -3.5      -12.2       -1.4
France                       -1.7      -11.7       10.5       -1.0       11.2       -2.5      -12.4       -1.0

Germany 2/                    0.2       -7.6       12.7       -1.1       13.2       -4.8      -13.3       -1.4
Italy                        -3.8      -12.9        9.8       -4.5       -1.1        5.6       -9.5       -1.9
Netherlands                   0.1       -8.0       12.7       -1.1       13.4       -4.9      -13.6       -1.6
Norway                       -2.1       -8.4        6.6       -2.3       11.4       -1.9       -8.8       -6.2
Sweden                       -3.2      -11.0        7.8       -3.6        8.1        6.4      -12.2       -3.9
United Kingdom               -1.3       -7.9        6.6       -0.9        3.0       -1.1        4.9        1.2

1/ Rates of change based on the compound                          3/ Adjusted to include employment taxes
 rate method.                                                      that are not compensation to employees
                                                                   but are labor costs to employers.

2/ Data relate to the former West Germany.                        4/ Value of foreign currency relative to
                                                                   the U.S. dollar.
NA = Not available.


 - 12 -

Trade-weighted unit labor costs

    Because the economies covered differ greatly in their relative 
importance to U.S. trade in manufactured goods, BLS constructs indexes of 
U.S. unit labor cost trends relative to a trade-weighted average of unit 
labor cost trends in the other economies. (See chart 3.)

PRINTED COPY CONTAINS CHART AT THIS POINT
Chart 3. U.S. manufacturing unit labor costs relative to 13 competitors, 
1979-98

    The construction of the indexes shown in chart 3 is a three-step 
process.  First, the indexes of unit labor costs for all economies are 
rebased to a common year (in this case, 1979=100).  Second, for each year, a 
"competitors" index is calculated as the weighted geometric mean of the 
indexes for all competitor economies.  Finally, the U.S. index number for 
each year is divided by the "competitors" index number (and multiplied by 
100) to obtain a relative ratio of the United States to the competitors.  
This process is used to calculate the relative trade-weighted unit labor cost 
indexes on both a national currency and a U.S. dollar basis.

    In chart 3, the solid line indicates that U.S. unit labor costs rose 
faster than "competitors" costs between 1979 and 1985 on a U.S. dollar basis.  
In most years between 1985 and 1995, U.S. costs either rose at a slower rate 
than the "competitors" costs or fell at a faster rate.  Since 1995, however, 
the strength of the U.S. dollar has once again caused relative U.S. unit 
labor costs to rise.

   The data underlying this chart are shown in table C.


 - 13 -


Table C. U.S. manufacturing unit labor costs
relative to 13 competitors, 1979-98

        Unit Labor Costs             Unit Labor Costs
        National Currency Basis      U.S. Dollar Basis
  Year    Own    Competitors           Own    Competitors
         Index      Index     Ratio   Index      Index     Ratio

  1979   100.0      100.0     100.0   100.0      100.0     100.0
  1980   112.3      111.9     100.4   112.3      110.2     101.9
  1981   117.6      120.9      97.3   117.6      109.6     107.3
  1982   125.2      129.2      96.9   125.2      106.2     117.8
  1983   122.9      131.2      93.6   122.9      104.8     117.3
  1984   122.3      131.8      92.8   122.3       99.3     123.1
  1985   124.4      133.1      93.5   124.4       97.2     127.9
  1986   129.2      138.5      93.3   129.2      121.7     106.2
  1987   124.4      140.6      88.5   124.4      139.7      89.0
  1988   124.6      141.8      87.9   124.6      152.1      81.9
  1989   129.7      145.5      89.1   129.7      151.8      85.5
  1990   135.0      151.5      89.1   135.0      163.4      82.6
  1991   141.3      158.1      89.4   141.3      173.1      81.7
  1992   145.4      162.6      89.4   145.4      181.4      80.1
  1993   146.4      165.2      88.6   146.4      179.8      81.4
  1994   141.9      163.4      86.8   141.9      180.6      78.6
  1995   136.5      162.9      83.8   136.5      190.2      71.8
  1996   135.5      162.8      83.2   135.5      180.6      75.0
  1997   135.1      160.3      84.3   135.1      164.3      82.2
  1998   135.8      161.7      84.0   135.8      154.1      88.1

- 17 -

Table 1.  Output per hour in manufacturing, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada   Japan    Korea    Taiwan   Belgium  Denmark  France   W.Germany Italy    lands    Norway   Sweden   Kingdom

  1950     NA     28.0      NA       NA       NA       NA      22.6     13.2      13.2     11.2     11.3     24.5     19.7     25.5

  1955     NA     34.4      8.7      NA       NA       NA      24.6     16.7      19.7     15.7     14.4     28.5     21.6     27.5

  1960     NA     40.7     14.0      NA       NA      18.0     29.9     21.8      29.2     19.6     18.6     36.7     27.6     31.2
  1961     NA     42.9     15.8      NA       NA      18.2     31.6     23.2      30.6     21.2     19.6     38.0     29.0     31.2
  1962     NA     46.3     16.6      NA       NA      19.2     33.2     24.7      32.8     23.5     20.4     38.0     31.3     31.9
  1963     NA     48.2     18.0      NA       NA      19.9     34.3     26.0      34.1     24.1     21.2     40.0     33.1     33.6
  1964     NA     50.4     20.4      NA       NA      21.2     37.1     28.1      37.1     24.4     23.1     42.2     36.0     35.8
  1965     NA     52.9     21.2      NA       NA      22.3     38.9     30.0      39.3     27.1     24.7     44.7     38.7     36.9
  1966     NA     53.8     23.3      NA       NA      23.8     40.8     32.5      40.9     29.5     26.3     46.6     40.3     38.1
  1967     NA     54.3     26.3      NA       NA      25.1     43.8     34.5      43.4     31.0     28.3     48.3     43.7     39.9
  1968     NA     57.6     29.5      NA       NA      27.3     47.8     38.1      47.0     33.4     31.8     51.3     47.8     42.7
  1969     NA     60.6     33.8      NA       NA      29.9     49.8     40.6      50.4     34.6     34.9     56.1     51.5     43.7

  1970     NA     59.2     38.0      NA       NA      32.9     52.7     43.1      52.0     36.8     38.1     57.8     52.8     44.7
  1971     NA     62.7     40.2      NA       NA      35.1     56.3     45.6      54.0     37.4     40.4     60.1     55.1     46.8
  1972     NA     65.7     44.1      NA       NA      39.2     60.8     47.7      57.4     40.6     43.6     63.6     57.9     49.5
  1973     NA     69.6     48.1      NA       NA      43.5     66.9     51.0      61.1     44.0     48.3     67.6     62.1     53.0
  1974     NA     70.8     49.3      NA       NA      45.8     69.1     52.2      63.2     46.8     51.9     70.6     64.8     53.9
  1975     NA     68.2     50.7      NA       NA      47.6     76.1     54.0      65.9     45.2     51.2     69.7     65.8     52.8
  1976     NA     73.1     53.8      NA       NA      52.4     78.8     57.3      70.6     51.5     56.8     71.9     66.8     55.0
  1977    70.6    77.1     55.9      NA       NA      55.0     80.4     60.7      72.7     52.5     61.4     71.5     65.8     55.5
  1978    71.1    78.5     58.1      NA       NA      58.3     81.6     63.4      75.2     55.9     65.4     72.8     67.6     56.3
  1979    72.1    78.4     62.9      NA       NA      61.4     85.6     66.3      78.4     61.3     68.6     78.1     72.9     56.7

  1980    71.9    75.3     63.9      NA       NA      65.4     90.3     66.7      77.2     64.1     69.2     76.7     74.0     56.1
  1981    75.5    77.1     66.0      NA       NA      70.1     91.8     68.6      78.7     65.6     70.8     76.5     73.5     59.0
  1982    77.8    75.3     68.7      NA       NA      73.5     92.1     73.4      78.8     66.8     72.1     79.7     76.7     62.3
  1983    81.4    79.8     69.6      NA       NA      81.0     96.6     75.0      82.6     70.4     77.8     82.4     81.8     67.1
  1984    84.6    86.6     71.9      NA       NA      85.0     96.1     76.1      85.4     77.3     85.4     87.4     85.6     70.7
  1985    87.8    89.8     77.3      NA       NA      87.0     96.7     79.1      89.1     81.6     89.0     90.2     87.1     72.3
  1986    88.3    89.3     76.9      NA       NA      87.8     91.1     80.4      89.6     82.7     90.8     89.0     88.5     74.8
  1987    94.4    91.3     81.2      NA       NA      88.9     90.6     81.8      88.1     85.1     91.6     93.3     90.1     79.4
  1988    98.0    91.1     84.8      NA       NA      92.0     94.1     87.4      91.5     86.7     93.7     92.1     90.8     82.3
  1989    97.1    92.4     89.5      NA       NA      96.9     99.6     91.9      94.6     89.4     97.1     94.6     93.8     86.2

  1990    97.8    95.3     95.4      NA       NA      96.8     99.1     93.5      99.0     92.5     98.6     96.6     95.0     88.3
  1991    98.3    95.1     99.4      NA       NA      99.1     99.6     96.9     101.9     95.2     99.6     97.5     95.0     92.2
  1992   100.0   100.0    100.0      NA       NA     100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   102.1   102.5    100.5      NA       NA     102.5    104.5    100.6     100.6    102.9    101.4    100.6    106.7    104.0
  1994   108.3   106.2    101.8      NA       NA     108.4      NA     108.5     107.9    105.6    112.7    101.4    116.1    106.8
  1995   114.9   108.9    109.3      NA       NA     113.2      NA     114.4     111.2    109.3    117.7    102.0    122.4    104.8
  1996   117.3   107.3    115.8      NA       NA     114.7      NA     114.9     115.1    110.3    119.7    102.0    125.4    103.2
  1997   122.1   111.0    121.4      NA       NA     121.8      NA     123.2     121.8    113.4    125.7    101.9    133.6    104.0
  1998   127.9   111.7    120.4      NA       NA     122.6      NA     127.4     127.1    113.6    127.8    104.1    136.5    105.1

NA:  Not Available

Note:  The data relate to employees (wage and salary earners) in Belgium, Denmark, and Italy,
and to all employed persons (employees and self-employed workers) in the other countries.

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 18 -

Table 2.  Output per employed person in manufacturing, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada   Japan    Korea    Taiwan   Belgium  Denmark  France   W.Germany Italy    lands    Norway   Sweden   Kingdom

  1950     NA     30.0      NA       NA       NA       NA      31.8     16.2      19.2     12.4     14.7     32.0     25.6     29.6

  1955     NA     35.6     10.4      NA       NA       NA      34.0     20.3      28.8     17.7     18.9     37.3     27.9     32.3

  1960     NA     41.8     17.3      NA       NA      22.6     39.2     26.6      38.4     22.4     24.5     46.2     33.7     35.9
  1961     NA     43.9     19.3      NA       NA      22.9     40.2     28.3      39.6     24.0     24.8     47.2     35.1     35.5
  1962     NA     47.7     19.8      NA       NA      24.1     42.6     30.1      41.3     25.7     25.6     47.0     37.5     35.9
  1963     NA     49.8     21.2      NA       NA      25.0     43.3     31.8      42.4     26.5     26.5     49.2     39.3     37.8
  1964     NA     52.3     24.0      NA       NA      26.5     47.2     34.0      46.1     26.8     28.7     52.3     42.3     40.6
  1965     NA     54.9     24.5      NA       NA      27.4     49.5     36.1      48.7     28.9     30.5     54.1     45.1     41.2
  1966     NA     55.4     27.0      NA       NA      29.1     51.0     39.2      50.0     31.7     32.4     56.6     47.0     41.8
  1967     NA     56.0     30.6      NA       NA      30.3     54.1     41.2      51.7     33.8     34.7     58.1     50.1     43.4
  1968     NA     59.3     34.2      NA       NA      33.0     57.7     44.3      56.6     36.4     38.2     60.1     53.6     46.9
  1969     NA     62.0     38.6      NA       NA      35.7     59.3     48.2      60.7     37.5     41.4     64.3     56.8     48.1

  1970     NA     60.3     43.0      NA       NA      38.3     60.8     50.5      62.4     39.2     44.4     65.7     58.1     48.4
  1971     NA     63.7     44.8      NA       NA      40.2     64.6     53.0      63.4     38.7     46.5     67.6     60.5     49.5
  1972     NA     66.7     48.9      NA       NA      43.9     68.4     54.9      66.6     41.7     49.5     70.6     61.8     51.8
  1973     NA     70.2     52.8      NA       NA      47.6     71.2     57.8      70.4     45.7     53.8     74.6     65.2     56.2
  1974     NA     70.9     52.0      NA       NA      48.7     75.0     58.3      71.4     46.9     56.0     76.9     67.3     55.3
  1975     NA     67.4     52.2      NA       NA      48.0     79.9     58.6      72.5     44.6     54.2     75.6     67.0     54.0
  1976     NA     72.4     57.0      NA       NA      53.8     83.2     62.4      79.9     50.7     60.0     76.0     67.2     56.8
  1977    69.2    76.3     59.4      NA       NA      56.1     84.1     65.5      81.1     51.5     64.6     74.4     65.6     57.7
  1978    69.8    78.1     62.0      NA       NA      59.4     84.3     67.8      82.8     54.7     68.2     73.9     65.7     58.2
  1979    70.3    77.8     67.5      NA       NA      62.6     88.4     70.8      86.0     59.5     70.7     78.0     69.8     58.4

  1980    69.3    74.0     68.6      NA       NA      65.6     93.9     71.2      83.5     62.4     71.8     77.1     70.1     55.9
  1981    72.7    75.8     70.3      NA       NA      68.7     94.3     72.3      84.1     63.8     73.8     76.9     70.1     57.9
  1982    73.6    73.6     73.0      NA       NA      73.7     96.0     74.2      83.7     64.8     75.9     79.4     73.4     61.7
  1983    79.1    79.1     74.0      NA       NA      79.2    102.1     75.5      87.9     68.3     82.1     82.5     79.2     66.7
  1984    83.5    85.8     77.3      NA       NA      82.5    101.2     76.8      90.9     75.0     88.8     87.4     84.4     70.8
  1985    86.6    89.2     82.8      NA       NA      85.7     98.4     79.2      93.1     78.6     90.2     89.8     85.2     73.1
  1986    87.1    88.9     81.9      NA       NA      86.5     94.9     80.7      93.0     81.6     91.5     88.7     86.3     75.8
  1987    93.5    91.5     86.7      NA       NA      88.4     92.2     82.6      91.3     85.5     91.9     90.7     88.9     80.1
  1988    98.0    93.0     91.7      NA       NA      93.0     95.8     88.5      94.4     90.1     94.7     90.3     89.4     85.0
  1989    97.2    93.5     95.6      NA       NA      97.5    100.2     92.9      96.2     92.7     97.6     93.3     92.1     88.1

  1990    97.2    95.7    100.5      NA       NA      98.5     98.4     94.1      98.8     93.6     99.1     95.1     94.3     90.0
  1991    97.0    94.9    102.5      NA       NA      99.2     99.3     96.4     101.0     95.3     99.8     96.4     94.3     93.0
  1992   100.0   100.0    100.0      NA       NA     100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   103.4   103.9     98.1      NA       NA     100.9    103.6    100.5      97.6    100.9    101.4    100.9    109.5    103.8
  1994   110.7   108.3     99.5      NA       NA     109.7    114.0    108.5     104.7    106.4    112.7    102.0    122.7    108.1
  1995   116.7   110.5    107.6      NA       NA     113.3    116.9    113.8     107.3    110.2    118.1    101.6    131.7    107.0
  1996   119.1   110.3    114.9      NA       NA     115.3    120.4    114.5     109.3    110.3    119.9    101.1    135.5    105.6
  1997   124.8   114.3    119.7      NA       NA     122.5    121.0    122.5     116.0    113.8    125.4    100.6    144.5    106.5
  1998   130.1   114.4    116.2      NA       NA     123.5    124.4    127.0     122.3    113.8    127.3    102.7    147.5    107.3

NA:  Not Available

Note:  The data relate to employees (wage and salary earners) in Belgium, Denmark, and Italy,
and to all employed persons (employees and self-employed workers) in the other countries.

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 19 -

Table 3.  Output in manufacturing, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada   Japan    Korea    Taiwan   Belgium  Denmark  France   W.Germany Italy    lands    Norway   Sweden   Kingdom

  1950     NA     22.6      2.2      NA       NA       NA      26.8     18.4      14.5      9.4     16.8     38.2     31.2     49.8

  1955     NA     29.3      4.9      NA       NA       NA      29.4     22.9      27.5     14.5     23.0     46.7     36.1     58.5

  1960     NA     34.2     10.7      NA       NA      30.7     40.8     31.0      41.5     21.4     31.7     56.5     46.5     67.7
  1961     NA     35.6     12.8      NA       NA      32.1     43.0     33.3      44.0     23.6     32.8     58.8     49.6     67.8
  1962     NA     39.7     13.9      NA       NA      34.6     46.7     35.7      46.2     26.1     34.5     59.3     53.4     68.0
  1963     NA     42.4     15.5      NA       NA      36.2     47.3     38.4      47.1     27.8     35.9     62.9     56.0     70.4
  1964     NA     46.5     18.0      NA       NA      39.5     52.9     42.0      51.2     28.2     39.3     67.3     61.0     76.8
  1965     NA     51.0     18.7      NA       NA      40.8     56.3     44.1      55.0     29.6     42.1     70.9     65.3     79.0
  1966     NA     54.4     21.2      NA       NA      43.2     57.5     48.1      55.9     32.3     44.3     75.1     67.1     80.4
  1967     NA     55.5     25.4      NA       NA      43.7     58.1     50.4      54.7     35.5     46.1     77.5     69.3     80.9
  1968     NA     59.1     29.3      NA       NA      46.7     62.6     53.2      60.3     38.9     50.4     79.4     72.9     86.6
  1969     NA     63.1     34.1      NA       NA      52.2     66.0     59.6      67.4     41.4     55.3     85.2     78.6     89.9

  1970     NA     60.5     38.8      6.3     13.2     57.6     68.0     64.1      70.9     44.7     59.5     89.1     81.7     90.3
  1971     NA     64.3     40.7      7.5     16.2     60.1     69.4     68.1      71.6     45.3     61.5     92.3     82.2     89.3
  1972     NA     69.7     44.4      8.6     19.5     64.7     75.3     71.3      73.8     47.8     63.2     96.7     82.7     91.2
  1973     NA     76.8     50.0     11.1     22.9     70.6     79.5     76.7      78.5     54.0     67.7    102.2     88.5     99.6
  1974     NA     78.7     48.7     13.0     21.7     73.4     80.7     78.2      77.7     57.4     70.2    107.3     93.3     98.3
  1975     NA     73.0     46.2     14.3     22.6     67.9     78.7     76.6      74.1     54.1     65.6    105.0     93.6     91.6
  1976     NA     78.9     50.2     18.1     27.7     73.0     82.5     81.1      79.8     62.2     69.6    105.2     93.6     93.3
  1977    74.9    81.5     51.8     20.9     31.2     73.3     82.9     84.8      81.3     64.4     73.1    103.0     88.3     95.1
  1978    78.7    86.1     53.3     25.5     37.7     74.3     82.7     86.8      82.8     67.5     75.4    100.6     85.9     95.6
  1979    81.3    89.5     57.9     28.1     40.7     76.2     87.4     89.3      87.1     74.6     77.3    104.7     91.4     95.4

  1980    77.3    85.4     59.9     27.7     44.7     78.2     91.3     88.7      85.3     78.4     77.4    103.6     91.8     87.2
  1981    80.7    87.5     62.1     30.5     48.1     77.2     88.4     87.3      84.4     76.8     77.5    101.7     88.9     81.8
  1982    76.2    77.7     64.1     32.6     49.1     80.4     89.8     88.2      81.5     75.7     76.7    101.3     89.8     81.7
  1983    80.5    81.8     66.1     37.6     54.8     84.6     95.8     88.0      82.7     76.3     79.1     99.9     95.0     83.4
  1984    89.1    92.7     70.4     42.3     62.7     87.2    100.3     87.0      85.2     79.8     83.6    104.7    101.7     86.5
  1985    91.8    97.5     76.1     46.7     64.8     89.1    103.5     87.3      88.3     82.4     86.1    108.5    103.9     89.0
  1986    91.0    98.6     74.9     55.7     74.6     89.1    103.5     87.3      89.7     84.5     88.3    108.1    105.2     90.1
  1987    97.9   103.2     78.4     66.6     84.4     88.8     99.3     87.2      88.0     88.2     89.5    110.7    107.7     94.4
  1988   104.5   109.3     84.6     75.8     87.9     93.3    100.8     92.2      90.9     94.5     92.8    105.3    110.2    101.4
  1989   104.0   110.8     90.2     79.0     91.2     99.1    104.3     97.2      94.0     98.1     96.9    101.3    111.6    105.4

  1990   102.5   106.6     96.3     86.7     90.8    101.0    102.7     99.1      99.1     99.6    100.1    100.2    110.6    105.3
  1991    98.7    98.8    101.4     95.0     96.9    100.7    101.7     99.8     102.8     99.2    100.6     98.3    103.6    100.0
  1992   100.0   100.0    100.0    100.0    100.0    100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   103.5   105.1     96.0    105.4    102.5     97.0     99.0     95.7      91.8     96.4     98.2    102.7    101.3    101.4
  1994   112.2   113.2     95.4    116.8    108.4    101.4    109.3    100.3      93.5    102.2    104.2    106.7    115.7    106.1
  1995   119.6   118.8    100.6    129.9    114.9    104.2    114.7    104.8      93.7    107.2    107.8    109.0    130.1    107.8
  1996   121.6   120.2    106.7    138.7    120.0    104.2    117.8    104.5      92.5    106.7    108.4    110.1    132.9    108.2
  1997   128.8   128.0    111.1    147.8    128.0    109.0    120.3    110.2      95.8    110.4    114.1    113.3    140.3    109.6
  1998   135.0   133.0    103.6    137.2    133.0    111.8    126.5    114.6     100.7    112.5    116.6    116.4    146.4    110.0

NA:  Not Available

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 20 -

Table 4.  Total hours in manufacturing, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada   Japan    Korea    Taiwan   Belgium  Denmark  France   W.Germany Italy    lands    Norway   Sweden   Kingdom

  1950    85.5    80.7      NA       NA       NA       NA     118.7    139.6     109.8     83.8    148.6    156.0    158.5    195.7

  1955    94.6    85.1     55.9      NA       NA       NA     119.8    137.7     139.6     92.8    159.1    164.1    167.3    213.1

  1960    92.1    84.1     76.3      NA       NA     170.7    136.5    142.1     142.3    109.0    170.6    154.0    168.3    217.3
  1961    89.7    83.0     80.8      NA       NA     175.9    136.2    143.5     143.9    111.2    167.1    154.8    171.0    217.4
  1962    93.4    85.8     83.4      NA       NA     180.3    140.7    144.5     140.8    111.1    169.2    156.2    170.8    213.2
  1963    94.4    87.9     86.1      NA       NA     181.8    138.0    147.6     138.1    115.3    169.5    157.3    169.1    209.6
  1964    96.4    92.2     88.2      NA       NA     186.5    142.6    149.4     138.0    115.6    170.0    159.5    169.6    214.6
  1965   102.0    96.4     88.0      NA       NA     183.2    144.9    146.6     140.0    109.1    170.4    158.4    168.8    214.3
  1966   108.6   101.1     91.0      NA       NA     181.5    140.8    148.0     136.7    109.7    168.3    161.1    166.5    211.2
  1967   108.0   102.1     96.3      NA       NA     173.6    132.7    145.9     125.9    114.8    162.7    160.4    158.4    203.0
  1968   109.6   102.5     99.4      NA       NA     170.9    130.9    139.5     128.3    116.4    158.8    154.9    152.6    202.8
  1969   110.9   104.2    100.9      NA       NA     174.9    132.7    146.8     133.8    119.5    158.5    152.0    152.5    205.6

  1970   104.4   102.1    102.3      NA       NA     174.7    129.0    148.7     136.3    121.2    156.2    154.3    154.7    202.1
  1971   100.5   102.5    101.1      NA       NA     171.4    123.3    149.4     132.5    121.0    152.4    153.6    149.1    190.6
  1972   105.1   106.1    100.6      NA       NA     165.2    123.8    149.6     128.7    117.9    144.9    152.1    142.9    184.3
  1973   110.4   110.3    104.0      NA       NA     162.1    118.8    150.3     128.4    122.7    140.2    151.2    142.5    187.8
  1974   107.9   111.1     98.7      NA       NA     160.4    116.7    149.9     122.9    122.8    135.4    152.0    144.0    182.4
  1975    97.2   107.0     91.1      NA       NA     142.6    103.5    142.0     112.5    119.6    128.2    150.5    142.3    173.6
  1976   101.9   108.0     93.3      NA       NA     139.4    104.7    141.6     113.1    120.9    122.7    146.2    140.2    169.5
  1977   106.1   105.7     92.5      NA       NA     133.3    103.1    139.8     111.8    122.6    119.1    144.1    134.2    171.2
  1978   110.6   109.7     91.6      NA       NA     127.4    101.4    137.0     110.1    120.7    115.2    138.3    127.1    169.7
  1979   112.7   114.2     92.0      NA       NA     124.2    102.1    134.6     111.0    121.7    112.7    134.1    125.5    168.1

  1980   107.5   113.5     93.8      NA       NA     119.7    101.1    133.1     110.5    122.4    111.8    135.0    124.0    155.3
  1981   107.0   113.4     94.1      NA       NA     110.2     96.3    127.2     107.1    117.2    109.4    133.0    121.0    138.6
  1982    97.9   103.2     93.3      NA       NA     109.4     97.5    120.2     103.4    113.3    106.3    127.1    117.2    131.2
  1983    98.9   102.4     95.0      NA       NA     104.3     99.2    117.4     100.1    108.5    101.6    121.2    116.1    124.2
  1984   105.3   107.0     97.9      NA       NA     102.6    104.4    114.2      99.7    103.2     97.9    119.7    118.9    122.4
  1985   104.6   108.6     98.4      NA       NA     102.4    107.0    110.5      99.1    100.9     96.7    120.2    119.4    123.1
  1986   103.0   110.5     97.3      NA       NA     101.5    113.7    108.7     100.1    102.1     97.3    121.6    118.9    120.4
  1987   103.8   113.0     96.6      NA       NA     100.0    109.6    106.6      99.9    103.6     97.7    118.6    119.5    118.9
  1988   106.6   120.0     99.8      NA       NA     101.5    107.2    105.5      99.3    108.9     99.0    114.3    121.4    123.2
  1989   107.1   119.9    100.8      NA       NA     102.3    104.7    105.8      99.3    109.7     99.8    107.1    119.0    122.3

  1990   104.8   111.9    100.9      NA       NA     104.3    103.7    105.9     100.1    107.7    101.5    103.7    116.4    119.2
  1991   100.4   103.8    102.0      NA       NA     101.5    102.1    103.0     100.9    104.2    101.0    100.8    109.0    108.5
  1992   100.0   100.0    100.0      NA       NA     100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   101.4   102.6     95.6      NA       NA      94.7     94.8     95.1      91.3     93.6     96.9    102.1     94.9     97.5
  1994   103.6   106.6     93.7      NA       NA      93.6      NA      92.4      86.7     96.7     92.4    105.2     99.6     99.4
  1995   104.0   109.1     92.0      NA       NA      92.0      NA      91.6      84.3     98.0     91.6    106.9    106.3    102.9
  1996   103.7   112.0     92.2      NA       NA      90.8      NA      91.0      80.4     96.7     90.5    107.9    106.0    104.8
  1997   105.5   115.4     91.5      NA       NA      89.5      NA      89.5      78.6     97.4     90.8    111.1    105.0    105.4
  1998   105.6   119.0     86.1      NA       NA      91.2      NA      89.9      79.3     99.0     91.2    111.9    107.3    104.7

NA:  Not Available

Note:  The data relate to employees (wage and salary earners) in Belgium, Denmark, and Italy,
and to all employed persons (employees and self-employed workers) in the other countries.

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 21 -

Table 5.  Employment in manufacturing, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada   Japan    Korea    Taiwan   Belgium  Denmark  France   W.Germany Italy    lands    Norway   Sweden   Kingdom

  1950    84.3    75.1      NA       NA       NA       NA      84.4    113.4      75.2     76.0    114.1    119.3    122.0    168.4

  1955    93.1    82.3     47.1      NA       NA       NA      86.7    113.0      95.5     82.1    121.8    125.2    129.7    181.1

  1960    92.6    81.9     61.7      NA       NA     135.7    104.1    116.6     108.1     95.4    129.4    122.2    137.8    188.5
  1961    90.0    81.2     66.4      NA       NA     140.1    107.0    117.4     111.3     98.4    132.2    124.8    141.3    191.1
  1962    92.8    83.3     70.0      NA       NA     143.3    109.7    118.5     111.8    101.5    134.7    126.3    142.2    189.4
  1963    93.5    85.1     72.8      NA       NA     144.7    109.3    121.1     111.0    104.8    135.4    127.8    142.4    186.4
  1964    94.9    88.9     75.0      NA       NA     148.8    112.0    123.3     111.0    105.1    137.1    128.8    144.3    189.2
  1965    99.3    93.0     76.1      NA       NA     148.7    113.9    122.2     113.0    102.6    137.9    130.9    144.8    191.7
  1966   105.4    98.2     78.3      NA       NA     148.5    112.8    122.8     111.8    102.0    137.0    132.8    143.0    192.2
  1967   106.7    99.1     82.8      NA       NA     143.9    107.5    122.3     105.8    105.3    132.9    133.5    138.3    186.3
  1968   108.5    99.7     85.7      NA       NA     141.5    108.5    120.3     106.6    106.7    132.1    132.0    136.0    184.5
  1969   110.6   101.7     88.2      NA       NA     146.3    111.4    123.7     111.0    110.4    133.7    132.6    138.4    187.1

  1970   106.3   100.3     90.3      NA       NA     150.2    111.9    126.9     113.6    114.0    134.3    135.6    140.6    186.7
  1971   102.2   101.1     90.7      NA       NA     149.6    107.3    128.5     112.9    117.0    132.2    136.4    135.9    180.4
  1972   105.0   104.5     90.8      NA       NA     147.4    110.1    129.9     110.8    114.8    127.5    136.9    133.8    176.1
  1973   110.5   109.4     94.6      NA       NA     148.4    111.6    132.6     111.5    118.1    125.8    136.9    135.8    177.2
  1974   110.1   111.0     93.7      NA       NA     150.7    107.6    134.0     108.9    122.4    125.4    139.5    138.7    177.8
  1975   100.6   108.3     88.5      NA       NA     141.5     98.5    130.7     102.2    121.4    121.0    138.7    139.8    169.7
  1976   104.2   109.1     88.0      NA       NA     135.8     99.2    130.0      99.9    122.7    116.0    138.4    139.4    164.3
  1977   108.2   106.9     87.1      NA       NA     130.5     98.5    129.5     100.3    125.0    113.1    138.5    134.5    164.8
  1978   112.7   110.2     85.9      NA       NA     125.0     98.0    128.0     100.0    123.5    110.5    136.1    130.7    164.2
  1979   115.6   115.1     85.7      NA       NA     121.8     98.8    126.1     101.2    125.4    109.3    134.2    131.0    163.2

  1980   111.6   115.5     87.4      NA       NA     119.3     97.2    124.6     102.2    125.8    107.8    134.5    130.9    155.9
  1981   111.0   115.4     88.3      NA       NA     112.4     93.8    120.7     100.3    120.4    105.0    132.3    127.0    141.2
  1982   103.5   105.7     87.9      NA       NA     109.2     93.6    118.9      97.4    116.7    101.0    127.5    122.4    132.5
  1983   101.8   103.4     89.3      NA       NA     106.8     93.9    116.6      94.1    111.8     96.4    121.0    119.9    125.1
  1984   106.8   108.0     91.1      NA       NA     105.7     99.1    113.3      93.7    106.4     94.2    119.8    120.5    122.2
  1985   106.0   109.4     91.9      NA       NA     104.0    105.2    110.2      94.9    104.8     95.4    120.7    122.0    121.7
  1986   104.5   110.8     91.4      NA       NA     103.0    109.1    108.3      96.4    103.5     96.5    122.0    121.9    118.9
  1987   104.7   112.7     90.4      NA       NA     100.5    107.7    105.6      96.4    103.1     97.4    122.0    121.1    117.9
  1988   106.6   117.6     92.4      NA       NA     100.4    105.3    104.1      96.3    104.8     98.0    116.6    123.3    119.3
  1989   107.0   118.6     94.3      NA       NA     101.7    104.1    104.7      97.6    105.8     99.3    108.7    121.2    119.7

  1990   105.4   111.4     95.8      NA       NA     102.5    104.3    105.4     100.3    106.4    101.1    105.4    117.2    116.9
  1991   101.8   104.0     98.9      NA       NA     101.5    102.4    103.6     101.8    104.1    100.7    101.9    109.9    107.5
  1992   100.0   100.0    100.0      NA       NA     100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   100.1   101.2     97.9      NA       NA      96.1     95.5     95.2      94.0     95.5     96.9    101.8     92.6     97.7
  1994   101.3   104.5     95.9      NA       NA      92.5     95.8     92.4      89.3     96.0     92.4    104.7     94.2     98.2
  1995   102.5   107.5     93.5      NA       NA      91.9     98.1     92.1      87.3     97.2     91.3    107.2     98.8    100.7
  1996   102.2   109.0     92.9      NA       NA      90.3     97.8     91.3      84.6     96.7     90.3    108.9     98.1    102.5
  1997   103.2   112.0     92.8      NA       NA      89.0     99.4     90.0      82.6     96.9     91.0    112.6     97.1    102.9
  1998   103.8   116.2     89.2      NA       NA      90.5    101.6     90.2      82.4     98.8     91.5    113.3     99.3    102.6

NA:  Not Available

Note:  The data relate to employees (wage and salary earners) in Belgium, Denmark, and Italy,
and to all employed persons (employees and self-employed workers) in the other countries.

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 22 -

Table 6.  Average annual hours in manufacturing, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada   Japan    Korea    Taiwan   Belgium  Denmark  France   W.Germany Italy    lands    Norway   Sweden   Kingdom

  1950   101.4   107.4      NA       NA       NA       NA     140.7    123.0     146.0    110.2    130.3    130.8    129.9    116.2

  1955   101.5   103.4    118.7      NA       NA       NA     138.2    121.8     146.1    113.0    130.6    131.1    129.0    117.7

  1960    99.5   102.7    123.5      NA       NA     125.8    131.2    121.8     131.7    114.3    131.9    126.0    122.1    115.3
  1961    99.6   102.2    121.6      NA       NA     125.5    127.3    122.2     129.4    113.1    126.5    124.1    121.1    113.7
  1962   100.6   103.0    119.2      NA       NA     125.8    128.3    121.9     126.0    109.5    125.6    123.7    120.1    112.6
  1963   100.9   103.3    118.2      NA       NA     125.7    126.3    121.9     124.4    110.0    125.2    123.1    118.8    112.5
  1964   101.6   103.7    117.6      NA       NA     125.3    127.4    121.1     124.3    110.0    124.0    123.9    117.5    113.4
  1965   102.7   103.7    115.6      NA       NA     123.2    127.2    120.0     123.9    106.4    123.6    121.0    116.6    111.8
  1966   103.0   103.0    116.2      NA       NA     122.2    124.8    120.5     122.3    107.6    122.9    121.3    116.4    109.8
  1967   101.2   103.1    116.3      NA       NA     120.7    123.4    119.3     119.0    109.1    122.4    120.2    114.5    109.0
  1968   101.0   102.8    116.0      NA       NA     120.7    120.6    116.0     120.4    109.1    120.2    117.3    112.2    109.9
  1969   100.2   102.5    114.4      NA       NA     119.5    119.1    118.7     120.6    108.3    118.5    114.6    110.2    109.9

  1970    98.2   101.8    113.3      NA       NA     116.3    115.3    117.2     119.9    106.4    116.4    113.8    110.0    108.2
  1971    98.4   101.5    111.4      NA       NA     114.6    114.9    116.3     117.3    103.4    115.3    112.6    109.7    105.6
  1972   100.0   101.5    110.8      NA       NA     112.0    112.4    115.1     116.2    102.7    113.6    111.0    106.8    104.7
  1973    99.9   100.8    109.9      NA       NA     109.3    106.4    113.3     115.2    103.9    111.4    110.4    104.9    106.0
  1974    98.0   100.1    105.3      NA       NA     106.4    108.5    111.9     112.9    100.3    108.0    108.9    103.8    102.6
  1975    96.6    98.9    103.0      NA       NA     100.7    105.1    108.6     110.1     98.5    106.0    108.5    101.8    102.3
  1976    97.7    99.0    106.0      NA       NA     102.6    105.6    108.9     113.2     98.5    105.8    105.7    100.6    103.2
  1977    98.1    98.9    106.2      NA       NA     102.1    104.6    107.9     111.5     98.0    105.3    104.0     99.8    103.8
  1978    98.1    99.6    106.7      NA       NA     101.9    103.4    107.0     110.1     97.8    104.3    101.6     97.2    103.4
  1979    97.5    99.2    107.3      NA       NA     102.0    103.3    106.7     109.7     97.1    103.1     99.9     95.8    103.0

  1980    96.3    98.3    107.3      NA       NA     100.4    104.0    106.8     108.1     97.3    103.7    100.4     94.8     99.6
  1981    96.4    98.3    106.5      NA       NA      98.1    102.7    105.4     106.8     97.3    104.2    100.6     95.3     98.1
  1982    94.6    97.6    106.2      NA       NA     100.2    104.2    101.1     106.2     97.1    105.3     99.7     95.7     99.1
  1983    97.2    99.1    106.4      NA       NA      97.7    105.6    100.7     106.4     97.1    105.4    100.1     96.8     99.4
  1984    98.6    99.1    107.4      NA       NA      97.1    105.3    100.8     106.4     97.1    104.0     99.9     98.6    100.2
  1985    98.7    99.3    107.1      NA       NA      98.5    101.8    100.2     104.5     96.2    101.3     99.6     97.9    101.1
  1986    98.6    99.6    106.5      NA       NA      98.6    104.2    100.4     103.9     98.6    100.8     99.7     97.5    101.3
  1987    99.1   100.3    106.8      NA       NA      99.4    101.8    101.0     103.6    100.4    100.3     97.2     98.7    100.8
  1988   100.0   102.1    108.0      NA       NA     101.1    101.8    101.3     103.2    104.0    101.1     98.0     98.5    103.2
  1989   100.0   101.1    106.8      NA       NA     100.6    100.6    101.1     101.7    103.7    100.5     98.6     98.2    102.2

  1990    99.4   100.4    105.3      NA       NA     101.8     99.4    100.6      99.8    101.2    100.5     98.4     99.3    101.9
  1991    98.7    99.8    103.2      NA       NA     100.0     99.7     99.4      99.1    100.1    100.2     98.9     99.2    100.9
  1992   100.0   100.0    100.0      NA       NA     100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   101.3   101.4     97.7      NA       NA      98.5     99.2     99.9      97.0     98.0    100.0    100.3    102.6     99.8
  1994   102.2   102.0     97.7      NA       NA     101.2      NA     100.0      97.1    100.7    100.0    100.5    105.7    101.3
  1995   101.5   101.5     98.4      NA       NA     100.1      NA      99.5      96.5    100.8    100.3     99.7    107.6    102.2
  1996   101.5   102.8     99.2      NA       NA     100.5      NA      99.6      95.0    100.0    100.2     99.1    108.0    102.3
  1997   102.2   103.0     98.6      NA       NA     100.6      NA      99.4      95.2    100.4     99.8     98.7    108.2    102.4
  1998   101.8   102.4     96.5      NA       NA     100.7      NA      99.7      96.2    100.2     99.6     98.7    108.1    102.1

NA:  Not Available

Note:  The data relate to employees (wage and salary earners) in Belgium, Denmark, and Italy,
and to all employed persons (employees and self-employed workers) in the other countries.

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 23 -

Table 7.  Hourly compensation in manufacturing, national currency basis, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada*  Japan    Korea    Taiwan   Belgium  Denmark  France*  W.Germany Italy    lands    Norway   Sweden*  Kingdom*

  1950     8.7     5.7      NA       NA       NA       NA       2.5      1.6       3.4      0.8      3.1      2.2      1.9      1.6

  1955    11.7     8.1      3.1      NA       NA       NA       3.4      2.8       5.0      1.2      4.5      3.4      3.0      2.3

  1960    14.9    10.4      4.3      NA       NA       5.4      4.6      4.3       8.1      1.6      6.4      4.7      4.1      3.1
  1961    15.3    10.7      5.0      NA       NA       5.7      5.2      4.7       9.1      1.7      7.3      5.2      4.5      3.3
  1962    15.9    11.1      5.7      NA       NA       6.2      5.6      5.2      10.3      2.1      7.8      5.7      5.0      3.4
  1963    16.4    11.6      6.4      NA       NA       6.8      6.1      5.7      11.0      2.4      8.6      6.1      5.6      3.6
  1964    17.0    12.1      7.2      NA       NA       7.7      6.6      6.2      11.9      2.6      9.9      6.5      6.1      3.8
  1965    17.4    12.8      8.1      NA       NA       8.5      7.4      6.7      13.1      2.8     11.1      7.2      6.7      4.2
  1966    18.2    13.7      9.0      NA       NA       9.4      8.4      7.1      14.2      3.0     12.5      7.8      7.3      4.5
  1967    19.2    14.4     10.0      NA       NA      10.3      9.4      7.6      15.0      3.3     13.8      8.7      8.1      4.7
  1968    20.7    15.4     11.7      NA       NA      11.0     10.3      8.6      16.1      3.5     15.4      9.6      8.8      5.0
  1969    22.2    16.6     13.8      NA       NA      12.1     11.6      9.2      17.6      3.8     17.4     10.6      9.6      5.5

  1970    23.7    17.8     16.5      NA       NA      13.7     13.3     10.3      20.7      4.7     20.2     11.8     10.8      6.3
  1971    25.2    18.8     19.0      NA       NA      15.9     15.2     11.6      23.2      5.4     23.1     13.5     12.1      7.2
  1972    26.5    20.2     21.9      NA       NA      18.8     16.9     12.8      25.6      6.0     26.5     15.1     13.5      8.3
  1973    28.5    21.9     26.8      NA       NA      22.3     20.5     14.7      29.0      7.1     31.6     17.0     15.2      9.5
  1974    31.6    25.4     35.1      NA       NA      27.4     24.8     17.4      33.0      9.3     37.7     19.9     17.8     11.4
  1975    35.5    29.1     40.9      NA       NA      33.1     29.6     21.3      36.4     11.7     43.1     23.8     21.9     15.1
  1976    38.4    33.3     44.0      NA       NA      38.3     33.0     24.4      39.1     14.5     48.1     27.5     25.6     17.6
  1977    41.8    37.0     48.6      NA       NA      41.4     36.5     27.7      42.8     17.2     52.5     30.9     28.0     19.8
  1978    45.2    39.7     51.8      NA       NA      44.4     40.2     31.2      45.9     19.8     56.8     34.1     31.2     23.1
  1979    49.6    43.2     55.1      NA       NA      47.2     45.0     35.4      49.3     24.0     61.1     35.8     33.6     27.5

  1980    55.6    47.7     58.6      NA       NA      52.5     49.6     40.8      53.6     28.2     64.4     39.0     37.4     33.2
  1981    61.1    53.3     62.7      NA       NA      57.3     54.6     47.2      57.0     34.1     67.4     43.3     41.3     38.5
  1982    67.0    59.9     65.8      NA       NA      59.9     59.5     56.1      60.4     40.2     71.5     48.2     44.3     42.4
  1983    68.8    63.7     67.6      NA       NA      65.7     63.6     61.9      63.1     47.0     74.9     52.9     48.8     45.5
  1984    71.2    66.1     69.7      NA       NA      71.4     67.2     67.2      66.0     53.9     77.7     57.9     53.0     49.1
  1985    75.1    69.9     72.5      NA       NA      75.3     71.7     72.8      70.0     60.6     81.8     63.4     58.4     53.1
  1986    78.5    72.5     76.1      NA       NA      77.3     73.2     75.8      72.8     63.1     85.0     69.1     63.1     57.6
  1987    80.7    75.3     77.9      NA       NA      79.7     80.1     78.6      76.0     66.7     87.8     78.5     67.3     64.8
  1988    84.0    77.8     79.2      NA       NA      81.1     82.9     81.6      79.1     69.3     87.7     83.3     71.7     67.7
  1989    86.6    82.5     84.2      NA       NA      85.9     87.7     86.0      83.2     75.9     88.5     87.2     79.4     72.9

  1990    90.8    89.5     90.7      NA       NA      90.1     92.7     90.6      89.4     84.4     90.8     92.3     87.6     80.9
  1991    95.6    94.7     95.9      NA       NA      97.3     95.9     96.2      95.1     93.6     95.2     97.5     95.4     90.5
  1992   100.0   100.0    100.0      NA       NA     100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   102.7    99.6    104.6      NA       NA     104.8    104.6    102.8     105.9    107.5    103.7    101.5     98.0    104.3
  1994   105.6   100.4    106.7      NA       NA     106.1      NA     105.0     111.7    107.8    108.2    104.4    101.1    106.5
  1995   107.9   103.6    109.5      NA       NA     109.2      NA     107.6     117.7    112.8    110.6    109.2    106.2    107.4
  1996   109.3   102.8    110.9      NA       NA     112.0      NA     109.5     123.7    120.9    113.2    113.6    113.4    108.2
  1997   113.4   106.7    113.9      NA       NA     115.2      NA     112.3     126.6    125.9    115.8    119.1    118.3    111.4
  1998   119.4   110.8    115.8      NA       NA     116.0      NA     113.9     127.6    124.8    118.3    126.4    121.5    117.8

NA:  Not Available

Note:  The data relate to employees (wage and salary earners) in Belgium, Denmark, and Italy,
and to all employed persons (employees and self-employed workers) in the other countries.

* Compensation adjusted to include changes in employment taxes that are not compensation to employees, but are labor
   costs to employers.

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 24 -

Table 8.  Hourly compensation in manufacturing, U.S. dollar basis, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada*  Japan    Korea    Taiwan   Belgium  Denmark  France*  W.Germany Italy    lands    Norway   Sweden*  Kingdom*

  1950     8.7     6.3      NA       NA       NA       NA       2.2      2.4       1.3      1.7      1.4      1.9      2.1      2.5

  1955    11.7     9.9      1.1      NA       NA       NA       3.0      4.3       1.9      2.4      2.1      2.9      3.3      3.6

  1960    14.9    13.0      1.5      NA       NA       3.5      4.0      4.6       3.0      3.1      3.0      4.1      4.7      4.9
  1961    15.3    12.7      1.8      NA       NA       3.7      4.5      5.1       3.5      3.5      3.5      4.5      5.1      5.2
  1962    15.9    12.5      2.0      NA       NA       4.0      4.9      5.6       4.0      4.1      3.8      4.9      5.7      5.5
  1963    16.4    13.0      2.3      NA       NA       4.4      5.4      6.1       4.3      4.8      4.2      5.3      6.3      5.7
  1964    17.0    13.5      2.5      NA       NA       5.0      5.8      6.6       4.7      5.1      4.8      5.6      6.9      6.1
  1965    17.4    14.3      2.8      NA       NA       5.5      6.4      7.2       5.1      5.5      5.4      6.2      7.6      6.6
  1966    18.2    15.4      3.1      NA       NA       6.1      7.3      7.6       5.5      5.9      6.1      6.8      8.3      7.2
  1967    19.2    16.2      3.5      NA       NA       6.7      8.1      8.2       5.9      6.5      6.7      7.6      9.2      7.3
  1968    20.7    17.3      4.1      NA       NA       7.1      8.3      9.2       6.3      6.9      7.5      8.4     10.0      6.8
  1969    22.2    18.6      4.9      NA       NA       7.7      9.3      9.4       7.0      7.5      8.5      9.2     10.8      7.4

  1970    23.7    20.6      5.8      NA       NA       8.9     10.7      9.9       8.9      9.2      9.8     10.3     12.1      8.6
  1971    25.2    22.5      6.9      NA       NA      10.5     12.4     11.1      10.4     10.7     11.6     11.9     13.8     10.0
  1972    26.5    24.6      9.2      NA       NA      13.7     14.7     13.4      12.6     12.7     14.5     14.2     16.6     11.8
  1973    28.5    26.4     12.5      NA       NA      18.5     20.5     17.5      17.1     15.0     20.0     18.4     20.3     13.2
  1974    31.6    31.4     15.3      NA       NA      22.6     24.6     19.2      19.9     17.6     24.7     22.4     23.5     15.1
  1975    35.5    34.6     17.5      NA       NA      29.0     31.1     26.3      23.1     22.1     30.1     28.4     30.8     19.0
  1976    38.4    40.8     18.8      NA       NA      31.9     32.9     27.0      24.3     21.6     32.0     31.3     34.2     17.9
  1977    41.8    42.0     23.0      NA       NA      37.1     36.7     29.8      28.8     24.0     37.6     36.0     36.5     19.6
  1978    45.2    42.1     31.5      NA       NA      45.4     44.1     36.7      35.8     28.8     46.2     40.4     40.2     25.1
  1979    49.6    44.5     32.0      NA       NA      51.7     51.6     44.0      42.0     35.6     53.5     43.9     45.7     33.0

  1980    55.6    49.2     32.8      NA       NA      57.7     53.2     51.1      46.1     40.5     57.0     49.0     51.5     43.7
  1981    61.1    53.7     36.1      NA       NA      49.5     46.2     46.0      39.3     36.9     47.4     46.9     47.5     44.1
  1982    67.0    58.6     33.5      NA       NA      42.1     43.0     45.1      38.8     36.5     47.1     46.4     41.1     42.0
  1983    68.8    62.5     36.1      NA       NA      41.3     42.0     43.0      38.6     38.1     46.1     45.0     37.1     39.0
  1984    71.2    61.7     37.2      NA       NA      39.7     39.2     40.7      36.3     37.8     42.6     44.1     37.3     37.2
  1985    75.1    61.8     38.5      NA       NA      40.8     40.9     42.9      37.2     39.1     43.3     45.8     39.5     39.0
  1986    78.5    63.0     57.3      NA       NA      55.6     54.6     57.9      52.4     52.1     61.1     58.1     51.6     47.8
  1987    80.7    68.6     68.3      NA       NA      68.6     70.6     69.2      66.0     63.3     76.2     72.3     61.8     60.2
  1988    84.0    76.4     78.4      NA       NA      70.9     74.3     72.5      70.4     65.5     78.0     79.3     68.1     68.3
  1989    86.6    84.1     77.3      NA       NA      70.1     72.3     71.4      69.1     68.1     73.4     78.4     71.6     67.7

  1990    90.8    92.7     79.3      NA       NA      86.6     90.4     88.0      86.4     86.8     87.7     91.7     86.2     81.7
  1991    95.6    99.9     90.3      NA       NA      91.5     90.5     90.2      89.4     92.9     89.4     93.3     91.8     90.5
  1992   100.0   100.0    100.0      NA       NA     100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   102.7    93.3    119.3      NA       NA      97.4     97.4     96.0     100.0     84.2     98.1     88.8     73.3     88.7
  1994   105.6    88.8    132.4      NA       NA     102.1      NA     100.2     107.6     82.4    104.6     92.0     76.3     92.3
  1995   107.9    91.2    147.7      NA       NA     119.1      NA     114.3     128.3     85.3    121.2    107.1     86.6     95.9
  1996   109.3    91.1    129.3      NA       NA     116.3      NA     113.3     128.4     96.5    118.0    109.3     98.5     95.6
  1997   113.4    93.1    119.3      NA       NA     103.4      NA     101.8     114.0     91.1    104.3    104.5     90.1    103.3
  1998   119.4    90.3    112.1      NA       NA     102.7      NA     102.2     113.3     88.5    104.9    104.0     89.0    110.5

NA:  Not Available

Note:  The data relate to employees (wage and salary earners) in Belgium, Denmark, and Italy,
and to all employed persons (employees and self-employed workers) in the other countries.

* Compensation adjusted to include changes in employment taxes that are not compensation to employees, but are labor
   costs to employers.

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 25 -

Table 9.  Unit labor costs in manufacturing, national currency basis, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada*  Japan    Korea    Taiwan   Belgium  Denmark  France*  W.Germany Italy    lands    Norway   Sweden*  Kingdom*

  1950     NA     20.2      NA       NA       NA       NA      11.0     12.2      25.5      7.5     27.5      9.0      9.5      6.3

  1955     NA     23.4     36.1      NA       NA       NA      13.8     16.9      25.4      7.7     31.3     11.8     13.7      8.3

  1960     NA     25.5     30.9      NA       NA      30.1     15.4     19.5      27.8      8.0     34.4     12.9     14.9      9.8
  1961     NA     24.9     31.8      NA       NA      31.5     16.3     20.3      29.7      8.2     37.1     13.6     15.6     10.5
  1962     NA     23.9     34.6      NA       NA      32.1     17.0     21.0      31.5      8.8     38.2     15.0     16.1     10.8
  1963     NA     24.0     35.7      NA       NA      34.2     17.9     21.7      32.2     10.1     40.4     15.2     16.8     10.7
  1964     NA     23.9     35.4      NA       NA      36.3     17.9     21.9      32.1     10.7     42.9     15.4     16.9     10.7
  1965     NA     24.1     38.3      NA       NA      38.3     18.9     22.2      33.3     10.3     45.1     16.0     17.3     11.4
  1966     NA     25.5     38.5      NA       NA      39.6     20.5     21.7      34.7     10.1     47.3     16.8     18.2     11.9
  1967     NA     26.6     38.1      NA       NA      40.9     21.4     22.0      34.5     10.6     48.8     18.1     18.6     11.7
  1968     NA     26.7     39.6      NA       NA      40.3     21.6     22.6      34.3     10.5     48.4     18.8     18.5     11.7
  1969     NA     27.4     41.0      NA       NA      40.4     23.4     22.6      35.0     11.1     50.0     19.0     18.7     12.5

  1970     NA     30.0     43.3      9.0     22.3     41.7     25.2     24.0      39.8     12.7     52.9     20.4     20.5     14.1
  1971     NA     30.0     47.3      9.6     23.4     45.2     27.1     25.4      42.9     14.4     57.1     22.5     22.0     15.4
  1972     NA     30.7     49.6     10.6     23.7     47.9     27.8     26.8      44.7     14.9     60.8     23.7     23.4     16.8
  1973     NA     31.4     55.7     12.6     27.5     51.2     30.6     28.7      47.5     16.1     65.3     25.1     24.4     17.9
  1974     NA     35.8     71.1     15.4     41.5     59.9     35.9     33.4      52.1     19.8     72.7     28.2     27.5     21.1
  1975     NA     42.7     80.6     18.0     42.1     69.5     38.9     39.4      55.2     25.9     84.3     34.2     33.3     28.7
  1976     NA     45.6     81.9     22.4     43.6     73.1     41.8     42.6      55.4     28.3     84.8     38.3     38.3     31.9
  1977    59.2    47.9     86.8     26.1     45.4     75.3     45.4     45.7      58.8     32.8     85.5     43.2     42.6     35.7
  1978    63.5    50.6     89.1     31.0     45.8     76.1     49.3     49.3      61.1     35.4     86.8     46.8     46.2     41.1
  1979    68.8    55.1     87.5     37.7     52.0     76.8     52.5     53.3      62.9     39.2     89.0     45.8     46.2     48.5

  1980    77.2    63.3     91.7     47.9     60.1     80.3     55.0     61.2      69.4     44.0     93.0     50.8     50.6     59.1
  1981    80.9    69.1     95.1     55.1     69.8     81.7     59.5     68.9      72.4     51.9     95.1     56.6     56.1     65.3
  1982    86.1    79.5     95.8     58.2     74.5     81.5     64.6     76.5      76.7     60.1     99.2     60.5     57.8     68.1
  1983    84.5    79.9     97.2     61.8     73.0     81.1     65.8     82.5      76.4     66.8     96.2     64.2     59.7     67.8
  1984    84.1    76.3     96.8     66.6     76.2     84.0     69.9     88.2      77.3     69.8     90.9     66.3     61.9     69.4
  1985    85.5    77.8     93.8     64.1     79.3     86.5     74.2     92.0      78.6     74.2     91.8     70.2     67.1     73.5
  1986    88.8    81.2     99.0     63.5     82.3     88.0     80.4     94.3      81.2     76.3     93.7     77.7     71.3     76.9
  1987    85.5    82.5     96.0     67.6     82.1     89.7     88.4     96.2      86.3     78.3     95.9     84.1     74.7     81.6
  1988    85.7    85.5     93.4     75.7     84.2     88.1     88.2     93.4      86.5     79.9     93.6     90.4     79.0     82.2
  1989    89.2    89.2     94.0     80.8     87.9     88.7     88.1     93.6      87.9     84.9     91.1     92.2     84.7     84.6

  1990    92.8    93.9     95.0     85.9     94.3     93.0     93.6     96.8      90.3     91.3     92.1     95.6     92.3     91.6
  1991    97.2    99.6     96.5     95.0     95.6     98.1     96.3     99.3      93.3     98.4     95.5    100.0    100.4     98.2
  1992   100.0   100.0    100.0    100.0    100.0    100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   100.6    97.2    104.1    103.8    100.9    102.3    100.1    102.2     105.3    104.4    102.3    100.9     91.8    100.3
  1994    97.6    94.5    104.9    108.2    102.0     97.9     93.0     96.8     103.6    102.1     96.0    102.9     87.0     99.7
  1995    93.9    95.2    100.1    120.4    102.1     96.4     93.8     94.1     105.9    103.2     94.0    107.1     86.8    102.5
  1996    93.2    95.8     95.8    126.5    101.8     97.6     92.7     95.3     107.5    109.6     94.6    111.4     90.4    104.8
  1997    92.9    96.2     93.8    116.1    100.3     94.6     95.9     91.2     103.9    111.1     92.2    116.9     88.5    107.1
  1998    93.4    99.2     96.2    107.1     99.1     94.7     94.0     89.4     100.4    109.8     92.5    121.4     89.0    112.1

NA:  Not Available

Note:  The data relate to employees (wage and salary earners) in Korea, Taiwan, Belgium, Denmark, and Italy,
and to all employed persons (employees and self-employed workers) in the other countries.

* Compensation adjusted to include changes in employment taxes that are not compensation to employees, but are labor
   costs to employers.

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 26 -

Table 10.  Unit labor costs in manufacturing, U.S. dollar basis, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada*  Japan    Korea    Taiwan   Belgium  Denmark  France*  W.Germany Italy    lands    Norway   Sweden*  Kingdom*

  1950     NA     22.4      NA       NA       NA       NA       9.6     18.4       9.5     14.7     12.7      7.8     10.7     10.0

  1955     NA     28.7     12.7      NA       NA       NA      12.0     25.6       9.4     15.1     14.5     10.2     15.5     13.2

  1960     NA     31.8     10.9      NA       NA      19.4     13.5     21.1      10.4     16.0     16.0     11.3     16.8     15.6
  1961     NA     29.7     11.2      NA       NA      20.3     14.3     21.9      11.6     16.4     18.0     11.9     17.6     16.7
  1962     NA     27.1     12.1      NA       NA      20.7     14.9     22.7      12.3     17.4     18.7     13.0     18.2     17.1
  1963     NA     26.9     12.5      NA       NA      22.0     15.7     23.5      12.6     20.1     19.8     13.2     18.9     17.0
  1964     NA     26.8     12.4      NA       NA      23.5     15.6     23.7      12.6     21.1     20.9     13.3     19.1     16.9
  1965     NA     27.1     13.4      NA       NA      24.8     16.5     24.0      13.0     20.3     22.0     13.9     19.6     18.0
  1966     NA     28.6     13.5      NA       NA      25.6     17.9     23.4      13.6     19.9     23.0     14.6     20.5     18.9
  1967     NA     29.8     13.3      NA       NA      26.5     18.5     23.7      13.5     20.9     23.8     15.7     21.0     18.3
  1968     NA     30.0     13.9      NA       NA      25.9     17.4     24.2      13.4     20.7     23.5     16.4     20.9     15.9
  1969     NA     30.8     14.5      NA       NA      25.9     18.8     23.1      13.9     21.8     24.3     16.5     21.0     16.9

  1970     NA     34.7     15.3     22.8     14.0     27.0     20.3     23.0      17.1     24.9     25.7     17.8     23.0     19.2
  1971     NA     35.9     17.3     21.6     14.7     29.9     22.1     24.4      19.3     28.7     28.8     19.9     25.1     21.3
  1972     NA     37.5     20.8     21.2     14.9     35.0     24.1     28.2      21.9     31.4     33.3     22.3     28.7     23.8
  1973     NA     38.0     26.1     24.8     18.1     42.4     30.7     34.3      28.0     34.2     41.3     27.2     32.7     24.8
  1974     NA     44.3     30.9     29.8     27.5     49.5     35.6     36.8      31.5     37.6     47.6     31.7     36.2     28.0
  1975     NA     50.8     34.5     29.2     27.9     60.9     40.9     48.7      35.1     48.9     58.7     40.7     46.8     36.1
  1976     NA     55.9     35.0     36.3     28.9     60.9     41.8     47.2      34.4     41.9     56.5     43.6     51.3     32.6
  1977    59.2    54.5     41.1     42.3     30.1     67.6     45.7     49.2      39.6     45.8     61.3     50.4     55.5     35.3
  1978    63.5    53.7     54.2     50.3     31.1     77.8     54.1     58.0      47.6     51.4     70.7     55.5     59.5     44.6
  1979    68.8    56.8     50.9     61.2     36.3     84.2     60.3     66.4      53.6     58.1     78.0     56.2     62.8     58.2

  1980    77.2    65.4     51.3     61.9     42.0     88.3     58.9     76.7      59.6     63.3     82.3     63.9     69.6     77.8
  1981    80.9    69.6     54.6     63.5     47.6     70.6     50.4     67.0      49.9     56.2     66.9     61.3     64.6     74.8
  1982    86.1    77.8     48.8     62.4     47.9     57.2     46.7     61.5      49.3     54.7     65.3     58.2     53.6     67.4
  1983    84.5    78.3     51.8     62.5     45.9     51.0     43.4     57.3      46.7     54.2     59.3     54.7     45.3     58.2
  1984    84.1    71.2     51.7     64.7     48.4     46.8     40.8     53.5      42.4     49.0     49.8     50.5     43.6     52.5
  1985    85.5    68.9     49.9     58.4     50.0     46.9     42.3     54.2      41.7     47.9     48.7     50.8     45.4     54.0
  1986    88.8    70.6     74.5     56.4     54.7     63.4     60.0     72.1      58.5     63.0     67.3     65.3     58.3     63.9
  1987    85.5    75.2     84.2     64.3     65.0     77.2     77.9     84.7      74.9     74.4     83.2     77.5     68.5     75.7
  1988    85.7    83.9     92.4     80.9     74.0     77.0     79.0     82.9      76.9     75.6     83.2     86.1     75.0     82.9
  1989    89.2    91.0     86.3     94.0     83.8     72.3     72.6     77.7      73.0     76.2     75.5     82.9     76.4     78.5

  1990    92.8    97.2     83.1     94.9     88.2     89.5     91.3     94.1      87.3     93.8     88.9     95.0     90.8     92.5
  1991    97.2   105.0     90.9    101.1     89.9     92.3     90.8     93.1      87.8     97.6     89.8     95.7     96.6     98.2
  1992   100.0   100.0    100.0    100.0    100.0    100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   100.6    91.1    118.8    101.1     96.1     95.1     93.2     95.5      99.4     81.8     96.8     88.3     68.6     85.3
  1994    97.6    83.6    130.1    105.2     97.0     94.2     88.3     92.4      99.8     78.1     92.8     90.7     65.7     86.5
  1995    93.9    83.8    135.1    122.3     96.9    105.2    101.1     99.9     115.5     78.0    103.0    105.0     70.8     91.6
  1996    93.2    84.9    111.7    123.3     93.3    101.4     96.5     98.6     111.6     87.5     98.6    107.1     78.5     92.6
  1997    92.9    83.9     98.3     95.8     87.7     84.9     87.6     82.6      93.5     80.3     83.0    102.5     67.5     99.3
  1998    93.4    80.8     93.1     60.0     74.3     83.8     84.7     80.2      89.1     77.9     82.0     99.9     65.2    105.2

NA:  Not Available

Note:  The data relate to employees (wage and salary earners) in Korea, Taiwan, Belgium, Denmark, and Italy,
and to all employed persons (employees and self-employed workers) in the other countries.

* Compensation adjusted to include changes in employment taxes that are not compensation to employees, but are labor
   costs to employers.

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 27 -

Table 11.  Exchange rates, 14 countries or areas, 1950-1998 (Value of foreign currency relative to U.S. dollar)
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada   Japan    Korea    Taiwan   Belgium  Denmark  France   W.Germany Italy    lands    Norway   Sweden   Kingdom

  1950   100.0   110.5     35.2      NA       NA       NA      87.5    151.3      37.2    197.3     46.2     87.1    112.6    158.6

  1955   100.0   122.5     35.2      NA       NA       NA      87.4    151.2      37.1    197.1     46.1     87.0    112.6    158.0

  1960   100.0   124.6     35.2      NA       NA      64.5     87.6    107.9      37.4    198.4     46.6     87.1    112.7    159.0
  1961   100.0   119.4     35.1      NA       NA      64.5     87.4    107.9      38.9    198.4     48.5     87.0    112.7    158.6
  1962   100.0   113.1     35.1      NA       NA      64.6     87.5    108.0      39.1    198.5     48.8     87.1    113.0    159.0
  1963   100.0   112.0     35.1      NA       NA      64.5     87.4    108.0      39.2    198.2     48.8     86.9    112.3    158.5
  1964   100.0   112.0     35.0      NA       NA      64.6     87.3    108.0      39.3    197.3     48.8     86.8    113.1    158.1
  1965   100.0   112.1     35.1      NA       NA      64.8     87.3    108.0      39.1    197.2     48.8     86.9    112.9    158.3
  1966   100.0   112.2     35.0      NA       NA      64.5     87.4    107.7      39.1    197.3     48.6     86.9    112.8    158.1
  1967   100.0   112.0     35.0      NA       NA      64.7     86.5    107.6      39.2    197.4     48.8     86.9    112.9    155.7
  1968   100.0   112.2     35.2      NA       NA      64.4     80.7    106.9      39.1    197.7     48.6     87.0    112.7    135.5
  1969   100.0   112.2     35.4      NA       NA      64.1     80.3    102.2      39.8    196.4     48.5     87.0    112.7    135.3

  1970   100.0   115.8     35.4    252.7     62.9     64.7     80.5     95.7      42.8    196.5     48.6     86.9    112.3    135.6
  1971   100.0   119.7     36.5    226.0     62.9     66.2     81.6     96.1      44.9    199.3     50.4     88.3    114.1    138.4
  1972   100.0   122.0     41.8    199.7     62.9     73.0     86.8    104.9      49.0    211.1     54.8     94.3    122.5    141.6
  1973   100.0   120.8     46.8    197.0     65.8     82.8    100.2    119.3      59.0    211.8     63.3    108.2    133.8    138.8
  1974   100.0   123.6     43.5    194.0     66.2     82.7     99.3    110.1      60.5    189.4     65.5    112.6    131.4    132.5
  1975   100.0   118.8     42.7    162.1     66.2     87.6    105.3    123.6      63.6    188.9     69.7    119.2    140.6    125.8
  1976   100.0   122.6     42.8    162.1     66.2     83.3     99.9    110.9      62.1    148.4     66.6    113.9    133.7    102.2
  1977   100.0   113.7     47.3    162.1     66.2     89.7    100.6    107.7      67.3    139.6     71.7    116.8    130.4     98.8
  1978   100.0   106.0     60.8    162.1     67.9    102.3    109.6    117.6      77.9    145.2     81.4    118.6    129.0    108.6
  1979   100.0   103.2     58.1    162.1     69.8    109.6    114.8    124.4      85.2    148.3     87.7    122.7    135.9    120.2

  1980   100.0   103.4     55.9    129.2     69.8    110.0    107.1    125.3      85.9    143.9     88.5    125.8    137.7    131.7
  1981   100.0   100.8     57.5    115.2     68.3     86.4     84.6     97.3      69.0    108.2     70.4    108.2    115.0    114.6
  1982   100.0    97.9     50.9    107.2     64.3     70.2     72.4     80.5      64.3     91.0     65.8     96.2     92.7     99.0
  1983   100.0    98.1     53.4    101.1     62.8     62.9     66.0     69.5      61.2     81.1     61.6     85.1     75.9     85.8
  1984   100.0    93.3     53.4     97.1     63.5     55.7     58.3     60.6      54.9     70.2     54.8     76.2     70.4     75.7
  1985   100.0    88.5     53.2     91.0     63.1     54.2     57.0     58.9      53.1     64.5     53.0     72.3     67.7     73.5
  1986   100.0    87.0     75.3     88.7     66.5     72.0     74.6     76.4      72.0     82.6     71.8     84.0     81.7     83.1
  1987   100.0    91.1     87.7     95.0     79.2     86.1     88.2     88.0      86.9     95.0     86.8     92.2     91.8     92.8
  1988   100.0    98.2     98.9    106.8     87.9     87.4     89.6     88.8      88.9     94.6     88.9     95.2     94.9    100.8
  1989   100.0   102.1     91.8    116.4     95.3     81.6     82.5     83.0      83.0     89.8     82.9     89.9     90.2     92.7

  1990   100.0   103.6     87.4    110.4     93.5     96.2     97.5     97.2      96.6    102.8     96.6     99.4     98.4    101.0
  1991   100.0   105.5     94.2    106.5     94.0     94.0     94.3     93.7      94.0     99.3     93.9     95.7     96.3    100.1
  1992   100.0   100.0    100.0    100.0    100.0    100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   100.0    93.7    114.1     97.4     95.2     93.0     93.1     93.4      94.4     78.3     94.6     87.5     74.7     85.0
  1994   100.0    88.4    124.1     97.2     95.1     96.2     95.0     95.4      96.3     76.5     96.7     88.1     75.5     86.7
  1995   100.0    88.1    134.9    101.5     95.0    109.1    107.8    106.2     109.1     75.6    109.6     98.1     81.6     89.4
  1996   100.0    88.6    116.5     97.5     91.6    103.8    104.1    103.5     103.8     79.9    104.3     96.2     86.8     88.4
  1997   100.0    87.3    104.7     82.5     87.4     89.8     91.3     90.7      90.0     72.3     90.1     87.7     76.2     92.7
  1998   100.0    81.5     96.8     56.0     75.0     88.5     90.1     89.7      88.8     70.9     88.7     82.3     73.3     93.8

NA:  Not Available

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 28 -

Table 12.  Average annual compensation in manufacturing, national currency basis, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada*  Japan    Korea    Taiwan   Belgium  Denmark  France*  W.Germany Italy    lands    Norway   Sweden*  Kingdom*

  1950     8.8     6.1      NA       NA       NA       NA       3.5      2.0       4.9      0.9      4.0      2.9      2.4      1.9

  1955    11.8     8.3      3.7      NA       NA       NA       4.7      3.4       7.3      1.4      5.9      4.4      3.8      2.7

  1960    14.8    10.7      5.3      NA       NA       6.8      6.0      5.2      10.7      1.8      8.4      6.0      5.0      3.5
  1961    15.2    10.9      6.1      NA       NA       7.2      6.6      5.7      11.8      2.0      9.2      6.4      5.5      3.7
  1962    16.0    11.4      6.8      NA       NA       7.8      7.2      6.3      13.0      2.3      9.8      7.0      6.1      3.9
  1963    16.5    11.9      7.6      NA       NA       8.6      7.8      6.9      13.7      2.7     10.7      7.5      6.6      4.0
  1964    17.3    12.5      8.5      NA       NA       9.6      8.5      7.5      14.8      2.9     12.3      8.0      7.1      4.4
  1965    17.9    13.3      9.4      NA       NA      10.5      9.4      8.0      16.2      3.0     13.8      8.7      7.8      4.7
  1966    18.8    14.1     10.4      NA       NA      11.5     10.4      8.5      17.4      3.2     15.3      9.5      8.6      5.0
  1967    19.4    14.9     11.7      NA       NA      12.4     11.6      9.1      17.8      3.6     16.9     10.5      9.3      5.1
  1968    20.9    15.8     13.5      NA       NA      13.3     12.5     10.0      19.4      3.8     18.5     11.3      9.9      5.5
  1969    22.2    17.0     15.8      NA       NA      14.4     13.8     10.9      21.3      4.2     20.7     12.2     10.6      6.0

  1970    23.3    18.1     18.6      NA       NA      16.0     15.3     12.1      24.8      5.0     23.5     13.4     11.9      6.8
  1971    24.8    19.1     21.2      NA       NA      18.2     17.5     13.5      27.2      5.6     26.6     15.2     13.3      7.6
  1972    26.5    20.5     24.3      NA       NA      21.0     19.0     14.7      29.8      6.2     30.1     16.7     14.5      8.7
  1973    28.5    22.1     29.4      NA       NA      24.3     21.8     16.6      33.4      7.4     35.2     18.7     15.9     10.0
  1974    31.0    25.4     37.0      NA       NA      29.2     26.9     19.5      37.2      9.3     40.7     21.7     18.5     11.7
  1975    34.3    28.8     42.1      NA       NA      33.3     31.1     23.1      40.0     11.5     45.7     25.8     22.3     15.5
  1976    37.6    33.0     46.7      NA       NA      39.3     34.8     26.5      44.3     14.3     50.9     29.1     25.8     18.1
  1977    41.0    36.6     51.6      NA       NA      42.3     38.2     29.9      47.7     16.9     55.3     32.1     27.9     20.6
  1978    44.3    39.5     55.2      NA       NA      45.2     41.6     33.4      50.6     19.4     59.2     34.6     30.3     23.9
  1979    48.4    42.8     59.1      NA       NA      48.1     46.5     37.8      54.1     23.3     62.9     35.8     32.2     28.3

  1980    53.5    46.8     62.9      NA       NA      52.7     51.6     43.5      57.9     27.4     66.7     39.1     35.4     33.0
  1981    58.8    52.4     66.8      NA       NA      56.1     56.1     49.8      60.9     33.1     70.2     43.6     39.3     37.8
  1982    63.3    58.5     69.9      NA       NA      60.0     62.0     56.7      64.1     39.0     75.3     48.1     42.4     42.0
  1983    66.9    63.2     71.9      NA       NA      64.2     67.2     62.3      67.2     45.6     78.9     53.0     47.3     45.2
  1984    70.2    65.5     74.8      NA       NA      69.3     70.8     67.7      70.3     52.3     80.7     57.9     52.3     49.2
  1985    74.1    69.4     77.6      NA       NA      74.1     73.0     72.9      73.1     58.3     82.9     63.1     57.2     53.7
  1986    77.4    72.2     81.1      NA       NA      76.2     76.3     76.1      75.6     62.2     85.7     68.9     61.5     58.3
  1987    80.0    75.5     83.3      NA       NA      79.2     81.5     79.4      78.8     67.0     88.1     76.3     66.4     65.3
  1988    84.0    79.5     85.6      NA       NA      81.9     84.4     82.7      81.7     72.0     88.6     81.7     70.6     69.9
  1989    86.7    83.4     89.9      NA       NA      86.4     88.2     86.9      84.6     78.7     89.0     86.0     77.9     74.5

  1990    90.2    89.8     95.5      NA       NA      91.7     92.1     91.1      89.2     85.4     91.2     90.9     87.0     82.5
  1991    94.3    94.6     98.9      NA       NA      97.3     95.6     95.7      94.3     93.7     95.4     96.4     94.6     91.3
  1992   100.0   100.0    100.0      NA       NA     100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   104.1   101.0    102.1      NA       NA     103.2    103.8    102.7     102.8    105.4    103.7    101.8    100.5    104.1
  1994   108.0   102.4    104.3      NA       NA     107.4    106.0    105.0     108.5    108.6    108.2    105.0    106.8    107.8
  1995   109.5   105.1    107.7      NA       NA     109.2    109.7    107.1     113.6    113.7    110.9    108.8    114.3    109.7
  1996   111.0   105.7    110.1      NA       NA     112.6    111.7    109.1     117.6    120.9    113.4    112.6    122.5    110.7
  1997   115.9   109.9    112.3      NA       NA     115.8    116.1    111.7     120.5    126.4    115.6    117.5    127.9    114.1
  1998   121.5   113.5    111.8      NA       NA     116.9    117.0    113.6     122.8    125.0    117.8    124.8    131.3    120.3

NA:  Not Available

Note:  The data relate to employees (wage and salary earners) in Belgium, Denmark, and Italy,
and to all employed persons (employees and self-employed workers) in the other countries.

* Compensation adjusted to include changes in employment taxes that are not compensation to employees, but are labor
   costs to employers.

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 29 -

Table 13.  Real hourly compensation in manufacturing, CPI basis, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada   Japan    Korea    Taiwan   Belgium  Denmark  France   W.Germany Italy    lands    Norway   Sweden   Kingdom

  1950    46.9    38.7      NA       NA       NA       NA      28.6     19.8      11.7     18.4     17.1     26.3     25.2     26.6

  1955    56.7    48.7     18.2      NA       NA       NA      31.9     26.7      15.9     21.4     21.2     29.4     30.5     29.1

  1960    65.4    57.1     23.2      NA       NA      24.5     38.7     30.1      23.6     24.5     26.4     36.3     35.3     34.1
  1961    66.6    58.1     25.6      NA       NA      25.7     41.7     32.2      25.8     26.4     29.8     38.7     37.9     35.2
  1962    68.5    59.6     27.4      NA       NA      27.2     42.5     34.0      28.4     29.6     31.0     40.3     40.3     35.5
  1963    69.6    61.2     28.4      NA       NA      29.4     43.9     35.4      29.4     32.6     33.1     42.0     43.3     36.4
  1964    71.6    62.7     30.8      NA       NA      31.9     45.7     37.2      31.1     32.8     36.2     42.5     45.7     37.6
  1965    72.0    64.8     32.2      NA       NA      34.0     47.7     39.3      33.1     33.7     39.0     45.0     48.0     39.2
  1966    73.2    67.1     33.8      NA       NA      36.1     50.8     40.6      34.7     35.1     41.4     47.6     49.4     40.8
  1967    74.9    68.2     36.4      NA       NA      38.3     53.0     42.5      36.1     37.9     44.3     50.9     52.5     41.8
  1968    77.3    69.8     40.2      NA       NA      39.9     54.0     46.3      38.3     40.0     47.5     54.2     56.0     42.9
  1969    78.7    72.1     45.3      NA       NA      42.1     58.7     47.5      41.0     42.7     50.2     58.0     58.8     44.2

  1970    79.7    74.6     50.0      NA       NA      46.1     62.9     51.1      46.7     49.5     55.6     58.3     61.7     47.8
  1971    81.0    77.0     54.4      NA       NA      51.1     68.3     54.1      49.8     54.3     59.1     62.8     64.0     49.7
  1972    82.5    78.6     59.7      NA       NA      57.3     71.0     56.2      52.3     57.6     62.9     65.3     67.4     53.5
  1973    83.6    79.3     65.4      NA       NA      63.6     78.8     60.0      55.4     61.4     69.4     68.5     69.7     55.8
  1974    83.6    83.0     69.5      NA       NA      69.4     82.7     62.7      58.9     67.2     75.6     73.4     74.7     57.8
  1975    85.8    85.9     72.5      NA       NA      74.3     90.0     68.4      61.3     72.4     78.5     78.6     83.5     62.0
  1976    88.0    91.1     71.4      NA       NA      78.9     92.1     71.5      63.1     77.1     80.5     83.2     88.3     61.7
  1977    89.8    93.6     72.8      NA       NA      79.5     91.8     74.2      66.7     76.5     82.3     85.6     86.0     60.1
  1978    90.8    92.2     74.5      NA       NA      81.6     91.9     76.5      69.9     78.4     85.6     87.4     88.8     64.4
  1979    91.1    91.9     76.4      NA       NA      83.1     93.7     78.4      72.2     82.0     88.2     87.6     89.8     67.4

  1980    91.8    92.1     75.4      NA       NA      86.6     92.0     79.5      74.6     79.4     87.4     86.0     87.5     69.0
  1981    92.2    91.3     77.0      NA       NA      87.8     90.7     81.2      74.6     80.9     85.7     84.1     86.2     72.0
  1982    95.5    92.5     78.6      NA       NA      84.5     89.7     86.2      75.0     82.0     85.8     84.1     85.0     72.4
  1983    94.2    93.1     79.2      NA       NA      86.1     89.7     86.9      76.0     83.4     87.4     85.1     84.3     74.4
  1984    93.7    92.5     79.8      NA       NA      88.0     89.2     87.7      77.7     86.6     87.8     87.7     85.0     76.3
  1985    95.5    94.0     81.4      NA       NA      88.5     90.9     89.6      80.7     89.6     90.4     90.8     87.2     77.8
  1986    98.1    93.7     85.0      NA       NA      89.7     89.5     90.9      84.1     87.9     93.9     92.4     90.3     81.5
  1987    97.5    93.2     86.9      NA       NA      91.0     94.1     91.5      87.7     88.8     97.4     96.4     92.3     88.1
  1988    97.9    92.6     87.8      NA       NA      91.5     93.2     92.6      90.3     87.9     96.6     96.0     94.0     87.7
  1989    96.8    93.4     91.1      NA       NA      94.1     94.1     94.1      92.3     90.3     96.3     96.1     98.1     87.7

  1990    96.6    95.9     95.3      NA       NA      95.4     96.9     96.0      96.6     94.6     96.5     97.7     97.4     88.9
  1991    98.0    96.1     97.6      NA       NA      99.7     98.0     98.8      99.1     98.7     98.1     99.8     97.2     93.9
  1992   100.0   100.0    100.0      NA       NA     100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   100.2    97.9    103.2      NA       NA     102.0    103.3    100.7     102.1    103.2    101.1     99.2     95.3    102.7
  1994   100.8    98.4    104.7      NA       NA     100.9      NA     101.2     104.8     99.6    102.7    100.7     96.2    102.3
  1995   100.2    99.4    107.4      NA       NA     102.3      NA     102.0     108.7     98.9    103.1    102.7     96.8     99.7
  1996    98.9    97.1    108.8      NA       NA     102.8      NA     101.7     112.8    102.0    103.6    105.6    102.7     98.1
  1997   100.4    99.2    109.7      NA       NA     104.1      NA     103.1     113.3    104.4    103.7    107.9    105.8     98.0
  1998   104.3   102.2    110.9      NA       NA     103.8      NA     103.8     113.3    101.6    104.0    112.0    107.5    100.2

NA:  Not Available

Note:  The data relate to employees (wage and salary earners) in Belgium, Denmark, and Italy,
and to all employed persons (employees and self-employed workers) in the other countries.

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 30 -

Table 14.  Real average annual compensation in manufacturing, CPI basis, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada   Japan    Korea    Taiwan   Belgium  Denmark  France   W.Germany Italy    lands    Norway   Sweden   Kingdom

  1950    47.5    41.6      NA       NA       NA       NA      40.2     24.3      17.2     20.2     22.3     34.4     32.8     30.9

  1955    57.6    50.3     21.6      NA       NA       NA      44.0     32.5      23.3     24.1     27.7     38.6     39.3     34.2

  1960    65.1    58.7     28.6      NA       NA      30.8     50.7     36.6      31.0     28.0     34.8     45.8     43.1     39.3
  1961    66.4    59.4     31.1      NA       NA      32.2     53.1     39.4      33.4     29.8     37.6     48.0     45.8     40.1
  1962    68.9    61.4     32.6      NA       NA      34.2     54.5     41.5      35.8     32.4     39.0     49.9     48.4     39.9
  1963    70.3    63.2     33.6      NA       NA      37.0     55.4     43.1      36.5     35.9     41.4     51.7     51.5     40.9
  1964    72.8    65.0     36.2      NA       NA      40.0     58.3     45.0      38.7     36.1     44.9     52.6     53.7     42.6
  1965    73.9    67.3     37.2      NA       NA      41.9     60.6     47.2      41.0     35.8     48.2     54.5     56.0     43.9
  1966    75.4    69.1     39.2      NA       NA      44.1     63.4     48.9      42.4     37.8     50.8     57.8     57.5     44.9
  1967    75.7    70.3     42.3      NA       NA      46.2     65.4     50.7      42.9     41.4     54.2     61.2     60.2     45.6
  1968    78.1    71.8     46.6      NA       NA      48.2     65.1     53.7      46.1     43.6     57.1     63.6     62.8     47.2
  1969    78.9    73.9     51.8      NA       NA      50.3     69.9     56.4      49.5     46.3     59.5     66.5     64.8     48.6

  1970    78.2    75.9     56.6      NA       NA      53.6     72.5     59.9      56.0     52.6     64.7     66.3     67.9     51.7
  1971    79.7    78.1     60.6      NA       NA      58.5     78.5     63.0      58.4     56.2     68.1     70.8     70.2     52.5
  1972    82.5    79.8     66.1      NA       NA      64.2     79.8     64.7      60.7     59.2     71.5     72.5     72.0     56.0
  1973    83.5    79.9     71.9      NA       NA      69.5     83.9     68.0      63.8     63.8     77.3     75.6     73.1     59.1
  1974    81.9    83.1     73.2      NA       NA      73.9     89.8     70.1      66.5     67.4     81.7     80.0     77.5     59.3
  1975    82.9    84.9     74.7      NA       NA      74.9     94.6     74.2      67.4     71.3     83.2     85.3     85.0     63.4
  1976    86.0    90.2     75.7      NA       NA      80.9     97.3     77.8      71.5     76.0     85.2     87.9     88.8     63.7
  1977    88.1    92.6     77.3      NA       NA      81.2     96.0     80.0      74.3     75.0     86.7     89.0     85.9     62.4
  1978    89.0    91.8     79.4      NA       NA      83.2     95.0     81.9      76.9     76.6     89.2     88.8     86.3     66.6
  1979    88.8    91.2     82.0      NA       NA      84.7     96.8     83.6      79.2     79.6     90.9     87.5     86.0     69.4

  1980    88.5    90.5     80.9      NA       NA      87.0     95.7     84.9      80.7     77.3     90.6     86.3     83.0     68.7
  1981    88.9    89.7     82.0      NA       NA      86.1     93.2     85.6      79.7     78.7     89.3     84.6     82.1     70.6
  1982    90.3    90.3     83.5      NA       NA      84.7     93.5     87.2      79.7     79.6     90.4     83.8     81.3     71.8
  1983    91.5    92.2     84.3      NA       NA      84.1     94.7     87.4      80.9     81.0     92.2     85.3     81.7     73.9
  1984    92.4    91.7     85.7      NA       NA      85.4     93.9     88.5      82.7     84.0     91.3     87.7     83.9     76.4
  1985    94.3    93.4     87.2      NA       NA      87.1     92.5     89.8      84.3     86.2     91.6     90.4     85.3     78.7
  1986    96.7    93.3     90.5      NA       NA      88.4     93.3     91.3      87.3     86.7     94.6     92.1     88.0     82.6
  1987    96.7    93.4     92.8      NA       NA      90.5     95.8     92.3      90.9     89.2     97.7     93.7     91.0     88.8
  1988    97.9    94.6     94.8      NA       NA      92.5     94.9     93.7      93.2     91.3     97.6     94.1     92.6     90.6
  1989    96.8    94.5     97.4      NA       NA      94.7     94.6     95.1      93.9     93.7     96.8     94.7     96.3     89.6

  1990    96.0    96.3    100.3      NA       NA      97.0     96.3     96.5      96.4     95.8     96.9     96.2     96.7     90.6
  1991    96.8    95.9    100.6      NA       NA      99.7     97.6     98.2      98.2     98.8     98.3     98.7     96.4     94.7
  1992   100.0   100.0    100.0      NA       NA     100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   101.5    99.2    100.8      NA       NA     100.5    102.5    100.6      99.1    101.1    101.1     99.5     97.8    102.5
  1994   103.0   100.3    102.3      NA       NA     102.1    102.6    101.2     101.7    100.3    102.7    101.2    101.7    103.6
  1995   101.8   100.9    105.7      NA       NA     102.3    104.0    101.5     104.9     99.7    103.5    102.4    104.1    101.9
  1996   100.4    99.8    107.9      NA       NA     103.3    103.7    101.3     107.2    102.0    103.8    104.6    111.0    100.4
  1997   102.6   102.2    108.2      NA       NA     104.6    105.5    102.5     107.9    104.8    103.5    106.5    114.4    100.3
  1998   106.1   104.6    107.0      NA       NA     104.6    104.4    103.5     109.0    101.9    103.6    110.5    116.2    102.2

NA:  Not Available

Note:  The data relate to employees (wage and salary earners) in Belgium, Denmark, and Italy,
and to all employed persons (employees and self-employed workers) in the other countries.

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
- 31 -

Table 15.  Labor compensation in manufacturing, 14 countries or areas, 1950-1998
(Indexes:  1992=100)

         United                                                                 Former             Nether-                    United
 Year    States  Canada*  Japan    Korea    Taiwan   Belgium  Denmark  France*  W.Germany Italy    lands    Norway   Sweden*  Kingdom*

  1950     7.4     4.6      NA       NA       NA       NA       2.9      2.2       3.7       .7      4.6      3.4      3.0      3.1

  1955    11.0     6.9      1.8      NA       NA       NA       4.1      3.9       7.0      1.1      7.2      5.5      5.0      4.9

  1960    13.7     8.7      3.3      NA       NA       9.2      6.3      6.0      11.6      1.7     10.9      7.3      6.9      6.7
  1961    13.7     8.9      4.1      NA       NA      10.1      7.0      6.7      13.1      1.9     12.2      8.0      7.7      7.1
  1962    14.8     9.5      4.8      NA       NA      11.1      7.9      7.5      14.5      2.3     13.2      8.9      8.6      7.3
  1963    15.4    10.2      5.5      NA       NA      12.4      8.5      8.4      15.2      2.8     14.5      9.5      9.4      7.5
  1964    16.4    11.1      6.4      NA       NA      14.3      9.5      9.2      16.4      3.0     16.9     10.3     10.3      8.2
  1965    17.8    12.3      7.1      NA       NA      15.6     10.7      9.8      18.3      3.0     19.0     11.4     11.3      9.0
  1966    19.8    13.9      8.1      NA       NA      17.1     11.8     10.5      19.4      3.3     21.0     12.6     12.2      9.6
  1967    20.7    14.8      9.7      NA       NA      17.9     12.5     11.1      18.9      3.8     22.5     14.0     12.9      9.5
  1968    22.6    15.8     11.6      NA       NA      18.8     13.5     12.0      20.7      4.1     24.4     14.9     13.5     10.2
  1969    24.6    17.3     14.0      NA       NA      21.1     15.4     13.5      23.6      4.6     27.7     16.2     14.7     11.3

  1970    24.8    18.1     16.8       .6      3.0     24.0     17.1     15.4      28.2      5.7     31.5     18.2     16.7     12.8
  1971    25.3    19.3     19.2       .7      3.8     27.2     18.8     17.3      30.7      6.5     35.2     20.8     18.1     13.7
  1972    27.8    21.4     22.0       .9      4.6     31.0     20.9     19.1      33.0      7.1     38.4     22.9     19.4     15.3
  1973    31.5    24.1     27.8      1.4      6.3     36.1     24.3     22.0      37.3      8.7     44.2     25.7     21.6     17.8
  1974    34.2    28.2     34.6      2.0      9.0     43.9     28.9     26.1      40.5     11.4     51.0     30.3     25.7     20.8
  1975    34.5    31.2     37.2      2.6      9.5     47.2     30.6     30.2      40.9     14.0     55.3     35.9     31.1     26.3
  1976    39.2    36.0     41.1      4.1     12.1     53.4     34.5     34.5      44.2     17.6     59.1     40.2     35.9     29.7
  1977    44.4    39.1     44.9      5.5     14.2     55.2     37.7     38.7      47.8     21.1     62.5     44.5     37.6     34.0
  1978    50.0    43.6     47.4      7.9     17.3     56.5     40.8     42.8      50.6     23.9     65.5     47.1     39.6     39.3
  1979    55.9    49.3     50.7     10.6     21.2     58.6     45.9     47.6      54.8     29.2     68.8     48.0     42.2     46.2

  1980    59.7    54.1     54.9     13.3     26.9     62.8     50.2     54.3      59.2     34.5     72.0     52.6     46.4     51.5
  1981    65.3    60.4     59.0     16.8     33.6     63.1     52.6     60.1      61.0     39.9     73.8     57.6     49.9     53.4
  1982    65.6    61.8     61.4     19.0     36.6     65.5     58.0     67.4      62.5     45.5     76.1     61.3     51.9     55.7
  1983    68.1    65.3     64.2     23.2     40.0     68.6     63.1     72.7      63.2     51.0     76.1     64.1     56.7     56.5
  1984    75.0    70.7     68.2     28.2     47.8     73.2     70.2     76.7      65.9     55.7     76.1     69.4     63.0     60.1
  1985    78.5    75.9     71.3     29.9     51.4     77.1     76.8     80.4      69.4     61.1     79.0     76.2     69.7     65.4
  1986    80.8    80.0     74.1     35.4     61.4     78.5     83.2     82.4      72.9     64.5     82.7     84.0     75.0     69.3
  1987    83.8    85.1     75.3     45.1     69.2     79.7     87.7     83.9      76.0     69.1     85.8     93.0     80.4     77.0
  1988    89.5    93.4     79.1     57.4     74.0     82.3     88.9     86.1      78.6     75.4     86.8     95.2     87.1     83.4
  1989    92.8    98.9     84.8     63.9     80.2     87.9     91.8     91.0      82.6     83.3     88.3     93.4     94.5     89.2

  1990    95.1   100.1     91.5     74.5     85.6     94.0     96.1     96.0      89.5     90.9     92.2     95.7    102.0     96.5
  1991    96.0    98.4     97.9     90.2     92.6     98.8     98.0     99.1      96.0     97.5     96.1     98.3    104.0     98.2
  1992   100.0   100.0    100.0    100.0    100.0    100.0    100.0    100.0     100.0    100.0    100.0    100.0    100.0    100.0
  1993   104.2   102.2    100.0    109.4    103.4     99.2     99.1     97.8      96.6    100.6    100.5    103.6     93.1    101.7
  1994   109.4   107.0    100.0    126.4    110.6     99.3    101.6     97.1      96.8    104.3    100.0    109.9    100.7    105.9
  1995   112.2   113.1    100.7    156.5    117.2    100.4    107.6     98.6      99.2    110.6    101.3    116.6    112.9    110.4
  1996   113.4   115.2    102.3    175.5    122.2    101.7    109.2     99.6      99.4    116.9    102.5    122.6    120.2    113.4
  1997   119.6   123.1    104.2    171.6    128.3    103.0    115.3    100.5      99.5    122.6    105.1    132.4    124.2    117.4
  1998   126.1   131.9     99.7    146.9    131.8    105.8    118.9    102.4     101.2    123.6    107.9    141.4    130.3    123.3

NA:  Not Available

Note:  The data relate to employees (wage and salary earners) in Korea, Taiwan, Belgium, Denmark, and Italy,
and to all employed persons (employees and self-employed workers) in the other countries.

* Compensation adjusted to include changes in employment taxes that are not compensation to employees, but are labor
   costs to employers.

Source:  U.S. Department of Labor, Bureau of Labor Statistics, April 2000.
 - 14 -

TECHNICAL NOTES

    The Bureau of Labor Statistics constructs trend indexes of manufacturing 
labor productivity (output per hour), hourly compensation costs, and unit 
labor costs from three basic aggregate measures - output, total labor hours, 
and total compensation.  The hours and compensation measures refer to 
employees (wage and salary earners) in Korea, Taiwan, Belgium, Denmark, and 
Italy.  For all other countries, the measures refer to all employed persons, 
including employees, self-employed persons, and unpaid family workers.  For 
all of the countries, the term "hours" refers to hours worked.
    In general, the measures relate to total manufacturing as defined by the 
International Standard Industrial Classification (ISIC).  However, the 
measures for France refer to mining and manufacturing less energy-related 
products, and the measures for Denmark include mining and exclude 
manufacturing handicrafts from 1960 to 1966.
    The comparisons in this news release make use of data made available to BLS 
as of December 1999 by the statistical agencies of the individual countries.  
For some countries, for the most recent years, these data are based on the 
European System of Integrated National Accounts (ESA 95) or on the United 
Nations revised System of National Accounts (SNA 93).  For other countries, 
data were compiled according to previously used systems.
    To obtain historical time series, BLS may link together data series 
compiled according to different accounting systems.

    Output.  For most countries, the output measures are value added in 
manufacturing from the national accounts.  However, output for Japan prior to 
1970 and for the Netherlands prior to 1960 are indexes of industrial 
production.  The national accounts measures for the United Kingdom are 
essentially identical to their indexes of industrial production.
    In this release, manufacturing output data for the United States from 1977 
forward are the gross product originating (value added) measures prepared by 
the Bureau of Economic Analysis (BEA) of the U.S. Department of Commerce.  U. 
S. gross product originating is a chain-type annual-weighted series. 1/ 
Comparable manufacturing output data are not available prior to 1977.
    The gross product originating series differs from the manufacturing output 
series that BLS publishes in its news releases on quarterly measures of U.S. 
productivity and costs.  The quarterly measures are on a sectoral output basis 
rather than a value added basis.  Sectoral output is gross output less intra-
sector sales and transfers. 2/
    A value added concept has been used for the international comparisons 
series because the data are more readily available in the countries' national 
accounts, whereas sectoral output would require a complex estimation 
procedure.  Also, although BLS has determined that sectoral output is the 
correct concept for U.S. measures of single factor productivity (output per 
hour), there are other considerations that may make value added a better 
concept for international comparisons, such as differences among countries in 
the extent of vertical integration.
    The historical real output series for many of the other countries are 
estimated using fixed price weights, with the weights updated periodically 
(for example, every 5 or 10 years).  The Japanese value added series is based 
upon one set of fixed price weights since 1970.
    Measures of real output also may differ among countries because of 
different approaches to estimating the prices of high-technology products like 
computers and, in general, of products that undergo rapid quality change.

    Labor Input. The total hours measures are developed from 
statistics of manufacturing employment and average hours.  
The series used for France (from 1970 forward), Norway, 


 - 15 -

Sweden, and Canada are official series published with the national accounts.  
Where official total hours series are not available, the measures are developed 
by BLS using employment figures published with the national accounts, or other 
comprehensive employment series, and estimates of average annual hours worked.
For W. Germany after 1959, BLS uses aggregate hours worked, which are developed 
by a research institute of the Ministry of Labor for use with the national
accounts employment figures; earlier figures are BLS estimates.  For the other 
countries, and W. Germany before 1959, BLS constructs its own estimates of 
average hours.
    Denmark has not published estimates of average hours for 1994-1998, and, 
therefore, the BLS measure of labor input for Denmark ends in 1993.  BLS is in 
the process of assessing the comparability of the employment and hours time 
series data available from Korean and Taiwanese statistical sources.

    Compensation (labor cost).  The compensation measures are from the national 
accounts.  Compensation includes employer expenditures for legally required 
insurance programs and contractual and private benefit plans, in addition to 
all payments made in cash or in-kind directly to employees.  For Canada, 
France, and Sweden, compensation is increased to account for other important 
taxes on payroll or employment.  For the United Kingdom, compensation is 
reduced between 1967 and 1991 to account for subsidies.  When data for the 
self-employed are not available, total compensation is estimated by assuming 
the same hourly compensation for self-employed and employees.  Real 
compensation for the U.S. is derived with the Consumer Price Index research 
series (CPI-U-RS).

    Current Indicators.  The measures for recent years may be based on current 
indicators of output (such as industrial production indexes), employment, 
average hours, and hourly compensation until national accounts and other 
statistics, normally used for the long-term measures, become available.

    Trade-Weighted Measures.  The trade weights for Canada, Japan, and the 
European countries were obtained by re-scaling a series of weights, developed 
by the International Monetary Fund, based on average trade flows over the 
1989-91 period.  These weights are based on aggregate trade data for total 
manufacturing and take account of both bilateral trade and the relative 
importance of "third country" markets.  The 1989-91 weights do not include 
Korea and Taiwan.   BLS developed weights for Korea and Taiwan by using data 
from an earlier study from the International Monetary Fund and other sources.
    The following weights were used for the entire period for which trade-
weighted unit labor cost measures are produced:

Country         Weight

Canada           23.94
Japan            28.91
Belgium           2.02
Denmark           0.45
France            5.58
W. Germany       10.98
Italy             4.35
Netherlands       2.13
Norway            0.45
Sweden            1.79
United Kingdom    8.50
Korea             5.43
Taiwan            5.48


 - 16 -

    Level comparisons.  The BLS measures are limited to trend comparisons. BLS 
does not prepare level comparisons of manufacturing productivity and unit 
labor costs because of data limitations and technical problems in comparing 
the levels of manufacturing output among countries.  Each country measures 
manufacturing output in its own currency units.  To compare outputs among 
countries, a common unit of measure is needed.  Market exchange rates are not 
suitable as a basis for comparing output levels.  What is needed are 
purchasing power parities, which are the number of foreign currency units 
required to buy goods and services equivalent to what can be bought with one 
unit of U.S. currency.
    Purchasing power parities are available for total gross domestic product 
(GDP) from the Organisation for Economic Cooperation and Development (OECD).  
However, these parities are derived for expenditures made by consumers, 
business, and government for goods and services - not for value added by 
industry.  Therefore, they do not provide purchasing power parities by 
industry.  The parities for total GDP are not suitable for each component 
industry, such as manufacturing.
    Some analysts have constructed "proxy purchasing power parities" for 
manufacturing, using selected expenditure items from the GDP purchasing power 
parities.  However, the prices used in this method have a number of 
shortcomings because they are based on consumer, business, and government 
final expenditures.  The data reflect sales to final users, rather than the 
output of specific industries, and thus prices include indirect taxes, 
distribution margins, and transportation costs.  Further, the purchasing power 
parities exclude items that, although they are outputs of the manufacturing 
sector (e.g., steel, paper, cement, etc.), are only intermediate inputs with 
respect to final sales.  They also do not reflect an industry's output because 
they include imports and exclude exports.
    A different approach has been used by researchers at the International 
Comparisons of Output and Productivity project based at the University of 
Groningen in the Netherlands.  They develop unit value ratios for matched 
products, based on censuses of manufactures data in the various countries.  
Unit values are obtained by dividing producers' sales values by quantities 
shipped.  This procedure also has shortcomings, primarily because only a 
limited portion of manufactured products can be matched and the matched 
products may not be adequately representative of total manufacturing.  For 
many products, values are reported but not quantities; for some products, 
there is no counterpart in the other country; and other products cannot be 
matched because they represent a different mix of product varieties or because 
of large differences in qualities. 3/ 

1/  For more information on the U. S. measure, see Robert E. Yuskavage, 
"Improved Estimates of Gross Product by Industry, 1959-94," Survey of Current 
Business, August 1996, pp. 133-55.
2/  For information on sectoral output, see William Gullickson, "Measurement of 
productivity growth in U.S. manufacturing," Monthly Labor Review, July 1995, pp. 
13-28.
3/  For an article based on this approach, see Bart van Ark, "Manufacturing 
prices, productivity, and labor costs in five economies," Monthly Labor Review, 
July 1995, pp. 56-72.