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First Quarter 1997
The Bureau of Labor Statistics of the U.S. Department of Labor
today reported preliminary productivity data--as measured by output
per hour of all persons--for the first quarter of 1997. The
seasonally-adjusted annual rates of productivity change in the
first quarter were:
2.1 percent in the business sector and
2.0 percent in the nonfarm business sector.
In both sectors, first-quarter productivity gains were larger than
those posted in the previous three quarters.
In manufacturing, productivity changes in the first quarter were:
3.1 percent in manufacturing,
3.4 percent in durable goods manufacturing, and
3.5 percent in nondurable goods manufacturing.
Output and hours in manufacturing, which includes about 18 percent
of U.S. business-sector employment, tend to vary more from quarter
to quarter than data for the more aggregate business and nonfarm
business sectors.
Productivity And Costs: Revised First-Quarter 1997 Measures (Seasonally Adjusted Annual Rates)
| Sector | Productivity | Output | Hours |
|---|---|---|---|
| Percent change
from previous quarter | |||
| Business | 2.1 | 6.8 | 4.5 |
| Nonfarm business | 2.0 | 6.8 | 4.7 |
| Manufacturing | 3.1 | 6.7 | 3.5 |
| *Durable | 3.4 | 10.3 | 6.6 |
| *Nondurable | 3.5 | 2.6 | -0.8 |
| Percent change
from same quarter a year ago | |||
| Business | 1.2 | 4.7 | 3.4 |
| Nonfarm business | 0.9 | 4.6 | 3.6 |
| Manufacturing | 3.8 | 5.6 | 1.7 |
| *Durable | 4.2 | 7.3 | 3.0 |
| *Nondurable | 3.7 | 3.4 | -0.3 |
| Hourly | Real Hourly | Unit Labor | |
| Sector | Compensation | Compensation | Costs |
| Percent change
from previous quarter | |||
| Business | 4.5 | 2.0 | 2.3 |
| Nonfarm business | 4.7 | 2.3 | 2.7 |
| Manufacturing | 4.5 | 2.0 | 1.4 |
| *Durable | 4.4 | 2.0 | 0.9 |
| *Nondurable | 4.0 | 1.6 | 0.5 |
| Percent change
from same quarter a year ago | |||
| *Business | 4.0 | 1.1 | 2.8 |
| *Nonfarm business | 3.9 | 0.9 | 2.9 |
| *Manufacturing | 4.4 | 1.4 | 0.5 |
| *Durable | 4.4 | 1.4 | 0.2 |
| *Nondurable | 4.1 | 1.2 | 0.4 |
Revised Measures
Current and previous measures for the fourth quarter of 1996 for the business, nonfarm business, and manufacturing sectors are compared. Some of the quarterly movements differ slightly from those reported on March 11, based on information then available.
Measures of productivity, output, and unit labor costs for the business and nonfarm business sectors and nonfinancial corporations have been revised back to 1959 to reflect the historical revisions of the National Income and Product Accounts (NIPA) announced by the Bureau of Economic Analysis, U.S. Department of Commerce, on April 30. These revisions were small. There were much larger revisions to data on corporate profits for nonfinancial corporations. However, these were largely offset by revisions to nonlabor costs.
Previous And Revised Productivity And Related Measures; Quarterly Percent Change At Seasonally Adjusted Annual Rates
| Sector | Productivity | Output | Hours |
|---|---|---|---|
| Percent change
from previous quarter | |||
| Business | |||
| *Previous | 1.2 | 4.8 | 3.6 |
| *Current | 1.2 | 4.8 | 3.5 |
| Nonfarm Business | |||
| *Previous | 1.1 | 5.0 | 3.9 |
| *Current | 1.1 | 4.9 | 3.8 |
| Manufacturing | |||
| *Previous | 4.4 | 4.5 | 0.1 |
| *Current | 4.3 | 4.3 | 0.0 |
| Hourly | Real Hourly | Unit Labor | |
| Sector | Compensation | Compensation | Costs |
| Percent change
from previous quarter | |||
| Business | |||
| *Previous | 3.7 | 0.4 | 2.5 |
| *Current | 3.7 | 0.3 | 2.4 |
| Nonfarm Business | |||
| *Previous | 3.6 | 0.2 | 2.5 |
| *Current | 3.6 | 0.2 | 2.5 |
| Manufacturing | |||
| *Previous | 2.8 | -0.6 | -1.6 |
| *Current | 2.7 | -0.6 | -1.5 |
May 7, 1997
U.S. Department of Labor
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