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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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.