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To: Dalin who wrote (96882)	2/10/1999 1:42:00 PM
From: Mohan Marette	Respond to of 176387

<U.S.Economy> Productivity and costs- Yup real baaaaaad,right! preliminary fourth-quarter measures and annual averages, 1998 USDL 99-32 TRANSMISSION OF THIS MATERIAL IS EMBARGOED UNTIL 10:00 A.M. EST, TUESDAY, FEBRUARY 9, 1999. Internet address: stats.bls.gov Historical, technical information: (202) 606-5606 Current data: (202) 606-7828 Media contact: (202) 606-5902 PRODUCTIVITY AND COSTS Preliminary Fourth-Quarter Measures and Annual Averages, 1998 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 fourth quarter and for the full year 1998. In the fourth quarter, productivity advanced 3.9 percent in the business sector as output grew 6.6 percent and hours worked rose less--2.6 percent (seasonally adjusted annual rates). In the nonfarm business sector, productivity rose 3.7 percent as output increased 6.8 percent and hours grew 3.0 percent. Fourth Annual averages quarter 1997-1998 Business sector 3.9 2.3 Nonfarm business sector 3.7 2.2 For the year 1998, the increases in productivity were higher than those posted in 1997 (as revised) in both the business and nonfarm business sectors. Fourth-quarter productivity and related measures are summarized in table A and annual data in table B. Detailed information is presented in tables 1 through 5. In the manufacturing sector, increases in productivity were: Fourth Annual averages quarter 1997-1998 Manufacturing sector 5.6 4.3 Durable goods manufacturing 8.4 6.8 Nondurable goods manufacturing 2.2 1.2 Manufacturing productivity grew at a 5.6 percent annual rate in the fourth quarter, reflecting an 8.4-percent increase in durable goods manufacturing and a 2.2-percent increase in nondurable goods. On an annual basis, manufacturing productivity increased 4.3 percent in 1998--the third consecutive increase of more than four percent. (Output and hours in manufacturing, which includes about 17 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.) ----------------------------------------------------------------------- Table A. Productivity and costs: Preliminary fourth-quarter 1998 measures (Seasonally adjusted annual rates) ----------------------------------------------------------------------- Real Hourly hourly Unit Produc- compen- compen- labor Sector tivity Output Hours sation sation costs ----------------------------------------------------------------------- Percent change from preceding quarter Business 3.9 6.6 2.6 3.9 2.0 0.1 Nonfarm business 3.7 6.8 3.0 3.5 1.5 -0.2 Manufacturing 5.6 5.1 -0.5 3.2 1.3 -2.2 Durable 8.4 8.4 0.0 3.2 1.3 -4.8 Nondurable 2.2 0.9 -1.2 3.1 1.2 0.9 ----------------------------------------------------------------------- Percent change from same quarter a year ago Business 2.7 4.8 2.1 4.2 2.6 1.5 Nonfarm business 2.5 4.8 2.3 4.0 2.5 1.5 Manufacturing 3.9 2.6 -1.3 3.2 1.7 -0.7 Durable 6.3 5.3 -1.0 2.2 0.7 -3.8 Nondurable 1.1 -0.7 -1.8 4.9 3.3 3.7 -----------------------------------------------------------------------