Year or quarter Output per hour of Compensation per all persons hour3 Nonfarm Nonfarm Business Business business business sector sector sector sector 1960 48.9 51.9 60.8 63.3 1961 50.6 53.5 62.5 64.8 1962 52.9 55.9 64.6 66.7 1963 55.0 57.8 66.1 68.1 1964 56.8 59.6 67.7 69.3 1965 58.8 61.4 69.1 70.5 1966 61.2 63.6 71.7 72.6 1967 62.5 64.7 73.5 74.5 1968 64.7 66.9 76.2 77.1 1969 65.0 67.0 77.3 78.1 1970 66.3 68.0 78.8 79.2 1971 69.0 70.7 80.2 80.7 1972 71.2 73.1 82.6 83.2 1973 73.4 75.3 84.3 84.7 1974 72.3 74.2 83.3 83.8 1975 74.8 76.2 84.1 84.5 1976 77.1 78.7 86.4 86.6 1977 78.5 80.0 87.6 88.0 1978 79.3 81.0 89.1 89.6 1979 79.3 80.7 89.3 89.7 1980 79.2 80.6 89.1 89.6 1981 80.8 81.7 89.3 89.8 1982 80.1 80.8 90.4 90.8 1983 83.0 84.5 90.3 90.9 1984 85.2 86.1 90.7 91.1 1985 87.1 87.5 92.0 92.2 1986 89.7 90.2 94.9 95.2 1987 90.1 90.6 95.2 95.5 1988 91.5 92.1 96.5 96.7 1989 92.4 92.8 95.0 95.1 1990 94.4 94.5 96.2 96.1 1991 95.9 96.1 97.4 97.4 1992 100.0 100.0 100.0 100.0 1993 100.4 100.4 99.7 99.5 1994 101.3 101.5 99.0 99.1 1995 101.5 102.0 98.7 98.8 1996 104.5 104.7 99.4 99.4 1997 106.5 106.4 100.5 100.3 1998 109.5 109.4 105.2 104.9 1999 112.8 112.5 108.0 107.5 2000 116.1 115.7 112.0 111.5 2001 119.1 118.6 113.5 112.8 2002 124.0 123.5 115.7 115.1 2003 128.7 128.0 117.7 117.1 2004 132.7 131.8 119.0 118.2
Year or quarter Output per hour of Compensation per all persons hour3 Nonfarm Nonfarm Business Business business business sector sector sector sector 1960 48.9 51.9 60.8 63.3 1961 50.6 53.5 62.5 64.8 1962 52.9 55.9 64.6 66.7 1963 55.0 57.8 66.1 68.1 1964 56.8 59.6 67.7 69.3 1965 58.8 61.4 69.1 70.5 1966 61.2 63.6 71.7 72.6 1967 62.5 64.7 73.5 74.5 1968 64.7 66.9 76.2 77.1 1969 65.0 67.0 77.3 78.1 1970 66.3 68.0 78.8 79.2 1971 69.0 70.7 80.2 80.7 1972 71.2 73.1 82.6 83.2 1973 73.4 75.3 84.3 84.7 1974 72.3 74.2 83.3 83.8 1975 74.8 76.2 84.1 84.5 1976 77.1 78.7 86.4 86.6 1977 78.5 80.0 87.6 88.0 1978 79.3 81.0 89.1 89.6 1979 79.3 80.7 89.3 89.7 1980 79.2 80.6 89.1 89.6 1981 80.8 81.7 89.3 89.8 1982 80.1 80.8 90.4 90.8 1983 83.0 84.5 90.3 90.9 1984 85.2 86.1 90.7 91.1 1985 87.1 87.5 92.0 92.2 1986 89.7 90.2 94.9 95.2 1987 90.1 90.6 95.2 95.5 1988 91.5 92.1 96.5 96.7 1989 92.4 92.8 95.0 95.1 1990 94.4 94.5 96.2 96.1 1991 95.9 96.1 97.4 97.4 1992 100.0 100.0 100.0 100.0 1993 100.4 100.4 99.7 99.5 1994 101.3 101.5 99.0 99.1 1995 101.5 102.0 98.7 98.8 1996 104.5 104.7 99.4 99.4 1997 106.5 106.4 100.5 100.3 1998 109.5 109.4 105.2 104.9 1999 112.8 112.5 108.0 107.5 2000 116.1 115.7 112.0 111.5 2001 119.1 118.6 113.5 112.8 2002 124.0 123.5 115.7 115.1 2003 128.7 128.0 117.7 117.1 2004 132.7 131.8 119.0 118.2
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Productivity and Related Data, Business Sector 1960–2005 (Index numbers, 1992 =100; quarterly data seasonally adjusted)
1 Output refers to real gross domestic product in the sector.
2 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes an estimate of wages, salaries, and supplemental payments for the self-employed.
3 Hourly compensation divided by the consumer price index for all urban consumers for recent quarters. The trend from 1978–2005 is based on the consumer price index research series (CPI–U–RS).
Source: Department of Labor, Bureau of Labor Statistics.
Source: Department of Labor, Bureau of Labor Statistics.
Transcribed Image Text:Year or quarter
Output per hour of Compensation per
all persons
hour3
Nonfarm
Nonfarm
Business
Business
business
business
sector
sector
sector
sector
1960
48.9
51.9
60.8
63.3
1961
50.6
53.5
62.5
64.8
1962
52.9
55.9
64.6
66.7
1963
55.0
57.8
66.1
68.1
1964
56.8
59.6
67.7
69.3
1965
58.8
61.4
69.1
70.5
1966
61.2
63.6
71.7
72.6
1967
62.5
64.7
73.5
74.5
1968
64.7
66.9
76.2
77.1
1969
65.0
67.0
77.3
78.1
1970
66.3
68.0
78.8
79.2
1971
69.0
70.7
80.2
80.7
1972
71.2
73.1
82.6
83.2
1973
73.4
75.3
84.3
84.7
1974
72.3
74.2
83.3
83.8
1975
74.8
76.2
84.1
84.5
1976
77.1
78.7
86.4
86.6
1977
78.5
80.0
87.6
88.0
1978
79.3
81.0
89.1
89.6
1979
79.3
80.7
89.3
89.7
1980
79.2
80.6
89.1
89.6
1981
80.8
81.7
89.3
89.8
1982
80.1
80.8
90.4
90.8
1983
83.0
84.5
90.3
90.9
1984
85.2
86.1
90.7
91.1
1985
87.1
87.5
92.0
92.2
1986
89.7
90.2
94.9
95.2
1987
90.1
90.6
95.2
95.5
1988
91.5
92.1
96.5
96.7
1989
92.4
92.8
95.0
95.1
1990
94.4
94.5
96.2
96.1
1991
95.9
96.1
97.4
97.4
1992
100.0 100.0
100.0
100.0
1993
100.4
100.4
99.7
99.5
1994
101.3 101.5
99.0
99.1
1995
101.5 102.0
98.7
98.8
1996
104.5
104.7
99.4
99.4
1997
106.5
106.4
100.5
100.3
1998
109.5
109.4
105.2 104.9
1999
112.8
112.5
108.0 107.5
2000
116.1
115.7
112.0 111.5
2001
119.1
118.6
113.5 112.8
2002
124.0
123.5
115.7 115.1
2003
128.7 128.0
117.7
117.1
2004
132.7
131.8
119.0
118.2
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