Technology People and Productivity: Data Presentation

Indexes of Productivity -Manufacturing

The Index base is 1992 = 100.
	Output	Output per Hour	Compensation	Hours Worked
1992	100.0	100.0	100.0	100.0
1993	103.3	101.9	104.2	101.4
1994	108.7	105.0	109.4	103.6
1995	113.4	109.0	112.2	104.0
1996	117.0	112.8	113.4	103.6
1997	124.1	117.6	117.5	105.5
1998	130.4	124.0	123.5	105.2
1999	135.2	129.6	127.4	104.3
2000	142.9	138.3	134.5	103.4
Source: Bureau of Labor Statistics, U.S. Department of Labor, http://www.bls.gov/lpc/.

Business Productivity -All Sectors

The Index base is 1992 = 100.
	Hours Worked in Business	Business Output	Output per Hour in Business
1947	65.0	20.7	31.8
1948	65.5	21.8	33.3
1949	63.3	21.6	34.0
1950	64.1	23.7	36.9
1951	66.1	25.2	38.0
1952	66.2	26.0	39.2
1953	67.0	27.2	40.7
1954	64.6	26.9	41.6
1955	67.0	29.0	43.3
1956	68.0	29.5	43.4
1957	67.0	30.0	44.7
1958	63.9	29.4	46.0
1959	66.6	31.9	47.9

[Continued]

Business Productivity -All Sectors [Continued]

	Hours Worked in Business	Business Output	Output per Hour in Business
1960	66.6	32.5	48.8
1961	65.5	33.1	50.6
1962	66.6	35.2	52.9
1963	67.0	36.8	55.0
1964	68.1	39.2	57.5
1965	70.4	41.9	59.6
1966	72.3	44.8	62.0
1967	72.0	45.6	63.4
1968	73.4	47.9	65.4
1969	75.2	49.4	65.7
1970	73.7	49.4	67.0
1971	73.3	51.3	69.9
1972	75.7	54.7	72.2
1973	78.5	58.5	74.5
1974	78.6	57.6	73.2
1975	75.2	57.0	75.8
1976	77.6	60.9	78.5
1977	80.6	64.3	79.8
1978	84.7	68.3	80.7
1979	87.5	70.6	80.7
1980	86.8	69.8	80.4
1981	87.4	71.7	82.0
1982	85.2	69.6	81.7
1983	86.6	73.3	84.6
1984	91.6	79.7	87.0
1985	93.6	83.1	88.7
1986	94.2	86.1	91.4
1987	97.0	89.2	91.9
1988	100.0	92.9	93.0
1989	102.4	96.2	93.9
1990	102.6	97.6	95.2
1991	100.2	96.5	96.3
1992	100.0	100.0	100.0
1993	102.6	103.1	100.5
1994	106.2	108.1	101.9
1995	108.7	111.5	102.6
1996	110.4	116.4	105.4
1997	113.6	122.5	107.8
1998	116.1	128.5	110.7
1999	118.5	134.4	113.4
2000	120.3	140.6	116.9
Source: Bureau of Labor Statistics, U.S. Department of Labor, http://www.bls.gov/lpc/.

Gross Domestic Product and Components

All data are in billions of Chained 1996 Dollars. Chained dollars are constant dollars.
	Gross Domestic Product	Services	Non-durable Goods	Equipment and Software	Durable Goods
1987	6,113.3	2,379.3	1,274.5	360.0	455.2
1988	6,368.4	2,477.2	1,315.1	386.9	481.5
1989	6,591.8	2,546.0	1,351.0	414.0	491.7
1990	6,707.9	2,616.2	1,369.6	415.7	487.1
1991	6,676.4	2,651.8	1,364.0	407.2	454.9
1992	6,880.0	2,729.7	1,389.7	437.5	479.0
1993	7,062.6	2,802.5	1,430.3	487.1	518.3
1994	7,347.7	2,886.2	1,485.1	544.9	557.7
1995	7,543.8	2,963.4	1,529.0	607.6	583.5
1996	7,813.2	3,047.0	1,574.1	674.4	616.5
1997	8,159.5	3,147.0	1,619.9	764.2	657.3
1998	8,508.9	3,273.4	1,686.4	875.4	726.7
1999	8,856.5	3,393.2	1,766.4	978.3	817.8
2000	9,224.0	3,527.7>	1,849.9	1,087.4	895.5
Source: U.S. Department of Commerce, Bureau of Economic Analysis, and Survey of Current Business, September 2001, published by the same agency.

Number of Employees Required to Generate $1 mil. in Output in 1997

	1997 Output ($ mil.)	1997 Employment (000)	Employees Required to produce $1 mil. Output
Wholesale Trade	4,059,658	5,796.6	1.4
Utilities	411,713	702.7	1.7
Finance and Insurance	2,197,771	5,835.2	2.7
Mining	173,989	509.0	2.9
Manufacturing	3,842,061	16,888.0	4.4
Information	623,214	3,066.2	4.9
Educational Services	65,439	321.1	4.9
Retail Trade	2,460,886	13,991.1	5.7
Construction	858,581	5,664.8	6.6
Real Estate, Rental, Leasing	240,918	1,702.4	7.1
Profession, Scientific, Technical Services	579,542	5,212.7	9.0
Transportation and Warehousing	318,245	2,920.8	9.2
Arts and Entertainment	170,176	1,587.7	9.3
Health Care	885,054	13,561.6	15.3

[Continued]

Number of Employees Required to Generate $1 mil. in Output in 1997 [Continued]

	1997 Output ($ mil.)	1997 Employment (000)	Employees Required to produce $1 mil. Output
Admin Suport and Waste Management	295,936	7,347.4	24.8
Accommodations and Food Services	350,389	9,451.1	27.0
Source: U.S. Department of the Census, 1997 Economic Census.

Employees Required to Produce $1 Million in Manufacturing Shipments or in Construction Put Into Place

Data normalized to 1996 dollars.
	Manufacturing					Construction
								Construction Put in Place (mil. 1996)	Employment (000)	Employees per $1 mil. in Constr.
		Value of Shipments (mil. 1996)	Employment (000)	Employees per $1 mil. in Shipments
1958	1,535,796.148	15,945	10.38	-	-	-
1959	1,680,245.030	16,675	9.92	-	-	-
1960	1,684,250.000	16,796	9.97	-	-	-
1961	1,669,217.274	16,326	9.78	-	-	-
1962	1,779,875.500	16,853	9.47	-	-	-
1963	1,849,186.813	16,995	9.19	-	-	-
1964	1,941,777.200	17,274	8.90	405,864	3,097	7.63
1965	2,101,401.111	18,062	8.60	428,899	3,232	7.54
1966	2,242,548.938	19,214	8.57	430,631	3,317	7.70
1967	2,265,783.916	19,447	8.58	424,218	3,248	7.66
1968	2,356,309.617	19,781	8.39	446,145	3,350	7.51
1969	2,400,946.148	20,167	8.40	452,092	3,575	7.91
1970	2,263,082.143	19,367	8.56	429,041	3,588	8.36
1971	2,297,523.973	18,623	8.11	465,633	3,704	7.95
1972	2,502,716.744	19,151	7.65	498,463	3,889	7.80
1973	2,746,933.459	20,154	7.34	506,572	4,097	8.09
1974	2,896,319.385	20,077	6.93	449,424	4,020	8.94
1975	2,733,662.194	18,323	6.70	404,132	3,525	8.72
1976	2,957,991.517	18,997	6.42	435,292	3,576	8.22
1977	3,179,068.570	19,682	6.19	470,439	3,851	8.19
1978	3,326,470.074	20,505	6.16	505,446	4,229	8.37
1979	3,466,253.261	21,040	6.07	513,753	4,463	8.69
1980	3,355,712.733	20,285	6.04	464,144	4,346	9.36
1981	3,358,095.872	20,170	6.01	455,260	4,188	9.20
1982	3,087,923.756	18,780	6.08	423,729	3,904	9.21
1983	3,128,212.721	18,432	5.89	465,073	3,946	8.48

[Continued]

Employees Required to Produce $1 Million in Manufacturing Shipments or in Construction Put Into Place [Continued]

	Manufacturing					Construction
								Construction Put in Place (mil. 1996)	Employment (000)	Employees per $1 mil. in Constr.
		Value of Shipments (mil. 1996)	Employment (000)	Employees per $1 mil. in Shipments
1984	3,334,087.134	19,372	5.81	534,557	4,380	8.19
1985	3,288,429.356	19,248	5.85	567,689	4,668	8.22
1986	3,212,157.591	18,947	5.90	588,804	4,810	8.17
1987	3,279,780.103	18,999	5.79	585,103	4,958	8.47
1988	3,436,735.943	19,314	5.62	583,396	5,098	8.74
1989	3,469,795.993	19,391	5.59	579,583	5,171	8.92
1990	3,400,943.595	19,076	5.61	560,802	5,120	9.13
1991	3,237,169.047	18,406	5.69	503,711	4,650	9.23
1992	3,279,553.591	18,104	5.52	533,322	4,492	8.42
1993	3,333,999.574	18,075	5.42	544,285	4,668	8.58
1994	3,498,452.456	18,321	5.24	574,256	4,986	8.68
1995	3,671,770.174	18,524	5.04	570,188	5,160	9.05
1996	3,715,460.000	18,495	4.98	615,797	5,418	8.80
1997	3,854,639.003	18,675	4.84	632,680	5,691	9.00
1998	3,933,075.803	18,805	4.78	664,244	6,020	9.06
1999	4,067,543.927	18,552	4.56	692,281	6,415	9.27
2000	4,198,935.082	18,469	4.40	706,899	6,698	9.48
Source: U.S. Bureau of the Census, U.S. Department of Commerce (shipments and construction put in place) and Bureau of Labor Statistics, U.S. Department of Labor (employment data).

Labor and Multi-Factor Productivity in Manufacturing, 1949 to 2000

Index -1996 = 100. For a discussion of these indexes, please see text.
	Milti-factor Productivity Index	Labor Productivity Output per Hour Index
1949	59.7	29.7
1950	62.7	30.1
1951	62.9	30.0
1952	63.8	31.2
1953	65.0	32.3
1954	64.9	33.1
1955	66.9	34.4
1956	66.0	34.2
1957	66.4	34.9
1958	65.2	35.5
1959	68.1	36.3

[Continued]

Labor and Multi-Factor Productivity in Manufacturing, 1949 to 2000 [Continued]

	Milti-factor Productivity Index	Labor Productivity Output per Hour Index
1960	68.3	37.9
1961	68.9	39.2
1962	71.6	40.5
1963	73.6	42.0
1964	75.7	43.0
1965	77.7	43.5
1966	78.0	45.1
1967	77.5	46.7
1968	79.9	47.4
1969	80.5	48.0
1970	79.2	51.2
1971	81.4	53.5
1972	84.4	54.4
1973	85.9	54.3
1974	81.3	57.0
1975	78.9	59.4
1976	81.7	61.8
1977	82.9	62.4
1978	83.6	61.9
1979	82.7	62.1
1980	81.3	62.7
1981	81.9	65.8
1982	83.3	68.0
1983	85.2	70.5
1984	87.8	73.0
1985	89.2	76.2
1986	90.7	78.3
1987	93.5	80.0
1988	95.2	80.1
1989	93.4	82.4
1990	93.3	84.2
1991	92.4	88.7
1992	94.0	90.3
1993	94.9	93.1
1994	97.3	96.6
1995	99.2	100.0
1996	100.0	104.3
1997	103.5	109.9
1998	106.3	114.9
1999	109.4	122.6
2000	37.1	122.6
Source: Bureau of Labor Statistics, U.S. Department of Labor,http://www.bls.gov/mprhome.htm.

Educational Attainment of Adults, 25 Years and Older

Population and percent of age group total. Persons with High School or Higher include those with College degrees.
	Total Population 25-years or Older (000)	Population with High School or Higher (000)	Population with Less Than High School (000)	Population with 4 Years of College (000)	High School or Higher, Percent of Total	Less than High School, Percent of Total	4 years of College, Percent of Total
1940	74,776	18,034	55,700	3,407	24.1	74.5	4.6
1947	82,578	26,883	54,406	4,424	32.6	65.9	5.4
1950	87,484	29,143	55,925	5,272	33.3	63.9	6.0
1952	88,358	33,906	53,506	6,118	38.4	60.6	6.9
1957	95,630	38,989	54,828	7,172	40.8	57.3	7.5
1959	97,478	41,841	53,826	7,734	42.9	55.2	7.9
1960	99,465	40,804	58,661	7,617	41.0	59.0	7.7
1962	100,664	46,649	54,015	9,002	46.3	53.7	8.9
1964	102,421	49,158	53,265	9,345	48.0	52.0	9.1
1965	103,245	50,584	52,662	9,742	49.0	51.0	9.4
1966	103,876	51,838	52,042	10,212	49.9	50.1	9.8
1967	104,864	53,637	51,225	10,550	51.1	48.8	10.1
1968	106,469	56,028	50,439	11,171	52.6	47.4	10.5
1969	107,750	58,232	49,517	11,535	54.0	46.0	10.7
1970	109,310	60,360	48,948	12,062	55.2	44.8	11.0
1971	110,627	62,423	48,204	12,612	56.4	43.6	11.4
1972	111,133	64,652	46,482	13,364	58.2	41.8	12.0
1973	112,866	67,507	45,358	14,228	59.8	40.2	12.6
1974	115,005	70,425	44,580	15,300	61.2	38.8	13.3
1975	116,897	73,115	43,782	16,244	62.5	37.5	13.9
1976	118,848	76,130	42,717	17,496	64.1	35.9	14.7
1977	120,870	78,476	42,394	18,627	64.9	35.1	15.4
1978	123,019	81,092	41,929	19,332	65.9	34.1	15.7
1979	125,295	84,887	40,407	20,579	67.7	32.2	16.4
1980	130,409	89,506	40,902	22,193	68.6	31.4	17.0
1981	132,899	92,631	40,267	22,674	69.7	30.3	17.1
1982	135,526	96,168	39,357	24,050	71.0	29.0	17.7
1983	138,020	99,506	38,514	25,915	72.1	27.9	18.8
1984	140,794	103,216	37,575	26,862	73.3	26.7	19.1
1985	143,524	106,079	37,446	27,808	73.9	26.1	19.4
1986	146,606	109,556	37,050	28,489	74.7	25.3	19.4
1987	149,144	112,785	36,358	29,637	75.6	24.4	19.9
1988	151,635	115,526	36,111	30,787	76.2	23.8	20.3
1989	154,155	118,515	35,641	32,565	76.9	23.1	21.1
1990	156,538	121,485	35,052	33,291	77.6	22.4	21.3
1991	158,694	124,468	34,228	34,026	78.4	21.6	21.4
1992	160,827	127,717	33,110	34,337	79.4	20.6	21.4
1993	162,826	130,630	32,194	35,590	80.2	19.8	21.9
1994	164,512	133,073	31,440	36,544	80.9	19.1	22.2
1995	166,438	135,925	30,513	38,226	81.7	18.3	23.0
1996	168,323	137,599	30,724	39,668	81.7	18.3	23.6

[Continued]

Educational Attainment of Adults, 25 Years and Older [Continued]

	Total Population 25-years or Older (000)	Population with High School or Higher (000)	Population with Less Than High School (000)	Population with 4 Years of College (000)	High School or Higher, Percent of Total	Less than High School, Percent of Total	4 years of College, Percent of Total
1997	170,581	140,057	30,523	40,697	82.1	17.9	23.9
1998	172,211	142,653	29,558	41,973	82.8	17.2	24.4
1999	173,754	144,914	28,071	43,803	83.4	16.2	25.2
2000	175,230	147,376	27,854	44,845	84.1	15.9	25.6
Source: U.S. Census Bureau, U.S. Department of Commerce, Current Population Survey, March 2000.

Educational Attainment by Race -High School or Higher, Population Aged 25 or Older

Data are shown as percent of total age group.
	All Races					Whites					Blacks					Hispanics
	Total	Male	Female	Total	Male	Female	Total	Male	Female	Total	Male	Female
1940	24.5	22.7	26.3	26.1	24.2	28.1	7.7	6.9	8.4	NA	NA	NA
1950	34.3	32.6	36.0	NA	NA	NA	13.7	12.5	14.7	NA	NA	NA
1962	46.3	45.0	47.5	48.7	47.4	49.9	24.8	23.2	26.2	NA	NA	NA
1970	55.2	55.0	55.4	57.4	57.2	57.6	33.7	32.4	34.8	NA	NA	NA
1980	68.6	69.2	68.1	70.5	71.0	70.1	51.2	51.1	51.3	45.3	46.4	44.1
1990	77.6	77.7	77.5	79.1	79.1	79.0	66.2	65.8	66.5	50.8	50.3	51.3
2000	84.1	84.2	84.0	84.9	84.8	85.0	78.5	78.7	78.3	57.0	56.6	57.5
Source: U.S, Bureau of the Census, U.S. Department of Commerce, Current Population Survey, March 2000.

Average Earnings by Educational Attainment and Growth in Productivity -1975-1999

Earnings data are shown in year 2000 constant dollars.
	Average Earnings					Index, 1975=100
	High School and Higher	Less than High School	College and Higher	High School and Higher	Less than High School	College and Higher	Output per Hour -Business
1975	29,946	19,838	45,069	100.0	100.0	100.0	100.0
1976	30,251	20,337	45,467	101.0	102.5	100.9	103.6
1977	30,643	20,079	46,096	102.3	101.2	102.3	105.3
1978	30,876	20,492	45,821	103.1	103.3	101.7	106.5
1979	30,162	19,971	44,550	100.7	100.7	98.8	106.5
1980	28,537	18,484	42,280	95.3	93.2	93.8	106.1
1981	27,788	17,726	41,069	92.8	89.4	91.1	108.2
1982	27,596	16,751	41,250	92.1	84.4	91.5	107.8
1983	28,094	17,035	42,247	93.8	85.9	93.7	111.6

[Continued]

Average Earnings by Educational Attainment and Growth in Productivity -1975-1999 [Continued]

	Average Earnings					Index, 1975=100
	High School and Higher	Less than High School	College and Higher	High School and Higher	Less than High School	College and Higher	Output per Hour -Business
1984	28,603	17,210	43,140	95.5	86.8	95.7	114.8
1985	29,512	17,166	45,032	98.5	86.5	99.9	117.0
1986	30,597	17,602	47,017	102.2	88.7	104.3	120.6
1987	30,874	17,923	46,414	103.1	90.3	103.0	121.2
1988	31,363	17,306	46,878	104.7	87.2	104.0	122.7
1989	31,954	17,001	48,515	106.7	85.7	107.6	123.9
1990	30,749	16,577	46,497	102.7	83.6	103.2	125.6
1991	30,147	15,947	45,750	100.7	80.4	101.5	127.0
1992	30,367	15,721	46,576	101.4	79.2	103.3	131.9
1993	31,413	15,278	49,867	104.9	77.0	110.6	132.6
1994	32,000	15,915	50,478	106.9	80.2	112.0	134.4
1995	32,331	15,834	49,034	108.0	79.8	108.8	135.4
1996	32,865	16,475	49,965	109.7	83.0	110.9	139.1
1997	33,641	17,299	51,154	112.3	87.2	113.5	142.2
1998	34,773	16,959	52,890	116.1	85.5	117.4	146.0
1999	35,639	16,663	54,660	119.0	84.0	121.3	149.6
Source: Data on earnings from Current Population Survey, March 2000. Productivity data are from Bureau of Labor Statistics. The Consumer Price Index, published by the BLS, was used to deflate current dollar earnings estimates.

Earnings by Educational Attainment in Actual and Year 2000 Dollars

	Average Annual Earnings											Difference Between High Only and College
		High School Only			High School and Higher			College and Higher
		Actual $	2000 $	Actual $	2000 $	Actual $	2000 $	Actual $	2000 $
1975	7,843	25,103	9,356	29,946	14,081	45,069	6,238	19,965
1976	8,393	25,400	9,996	30,251	15,024	45,467	6,631	20,067
1977	9,013	25,611	10,784	30,643	16,222	46,096	7,209	20,485
1978	9,834	25,973	11,691	30,876	17,349	45,821	7,515	19,848
1979	10,624	25,199	12,717	30,162	18,782	44,550	8,158	19,351
1980	11,314	23,644	13,655	28,537	20,232	42,280	8,918	18,636
1981	12,109	22,939	14,669	27,788	21,679	41,069	9,570	18,130
1982	12,560	22,413	15,464	27,596	23,116	41,250	10,556	18,837
1983	13,044	22,552	16,249	28,094	24,436	42,247	11,392	19,695
1984	13,893	23,026	17,258	28,603	26,029	43,140	12,136	20,114
1985	14,457	23,137	18,441	29,512	28,138	45,032	13,681	21,895
1986	15,120	23,756	19,474	30,597	29,925	47,017	14,805	23,261
1987	15,939	24,161	20,367	30,874	30,619	46,414	14,680	22,253
1988	16,750	24,382	21,546	31,363	32,205	46,878	15,455	22,497
1989	17,594	24,433	23,010	31,954	34,936	48,515	17,342	24,082
1990	17,820	23,478	23,339	30,749	35,291	46,497	17,471	23,019
1991	18,261	23,088	23,844	30,147	36,185	45,750	17,924	22,662
1992	18,737	22,997	24,741	30,367	37,947	46,576	19,210	23,578

[Continued]

Earnings by Educational Attainment in Actual and Year 2000 Dollars [Continued]

	Average Annual Earnings											Difference Between High Only and College
		High School Only			High School and Higher			College and Higher
		Actual $	2000 $	Actual $	2000 $	Actual $	2000 $	Actual $	2000 $
1993	19,422	23,145	26,360	31,413	41,846	49,867	22,424	26,722
1994	20,248	23,527	27,540	32,000	43,443	50,478	23,195	26,951
1995	21,431	24,215	28,613	32,331	43,396	49,034	21,965	24,819
1996	22,154	24,314	29,945	32,865	45,526	49,965	23,372	25,651
1997	22,895	24,564	31,355	33,641	47,678	51,154	24,783	26,590
1998	23,594	24,926	32,915	34,773	50,064	52,890	26,470	27,964
1999	24,572	25,398	34,480	35,639	52,883	54,660	28,311	29,262
Source: Data on earnings from Current Population Survey, March 2000. The Consumer Price Index, published by the Bureau of Labor Statistics, was used to deflate current dollar earnings estimates.

Educational Attainment Boundaries -% of Adults 25 or Older with High School or Higher Education

The first column shows the educational attainment achieved if each ethnic group grows at rates experienced between 1990 and 2000. The second column shows the result if there is no further growth in attainment and each ethnic group continues to have the rates achieved in 2000. The second scenario reflects the growth in the population of ethnic groups with lower achievements in 2000.
	1990 to 2000 rate extended	2000 rate extended	Population 25 or Older Older (000)	Percent of Age Group
							Nonhispanic White %	Nonhispanic Black %	Asian %	Hispanic %
2000	84.1	84.1	181,984	73.6	10.7	3.6	9.4
2001	84.5	83.7	198,909	73.5	11.2	3.9	10.7
2002	85.1	83.6	200,767	73.1	11.3	4.0	11.0
2003	85.7	83.6	202,668	72.6	11.4	4.1	11.3
2004	86.4	83.5	204,670	72.2	11.4	4.2	11.5
2005	87.0	83.4	206,812	71.8	11.5	4.2	11.8
2006	87.7	83.3	208,961	71.4	11.6	4.3	12.0
2007	88.4	83.2	211,169	71.0	11.6	4.4	12.2
2008	89.0	83.1	213,363	70.7	11.7	4.5	12.5
2009	89.7	83.1	215,481	70.3	11.7	4.6	12.7
2010	90.4	83.0	217,697	69.9	11.8	4.7	12.9
Change	2000-2010	6.3	-1.1	35,713	-3.7	1.1	1.1	3.5
Attainment	in	2000	88.4	78.9	84.7	57.0
Source: For educational attainment, Current Population Survey, March 2000. Population projections from the Middle Series, U.S. Bureau of the Census. Projections made by the authors using these two sources. For a sophisticated analysis of this subject, see Jennifer Cheeseman Day and Kurt J. Bauman, Have We Reached the Top? Educational Attainment Projections of the U.S. Population, May 2000, Working Paper No. 43, Population Division, U.S. Census Bureau.

Relationship Between Wages/Salaries in Manufacturing and Output per Hour (Productivity)

	Constant 2000 Dollars			Output per Hour in Manufacturing 1992=100
		Manufacturing Wages & Salaries ($ bil.)	Wages & Salaries per Empl. ($)
1950	359.4	23,581	34.0
1951	393.4	23,999	33.8
1952	417.2	25,083	35.2
1953	459.8	26,203	36.4
1954	432.7	26,526	37.3
1955	474.8	28,127	38.8
1956	503.3	29,189	38.6
1957	505.6	29,435	39.4
1958	468.9	29,409	40.0
1959	514.2	30,839	40.9
1960	522.4	31,104	41.8
1961	517.8	31,713	42.8
1962	552.0	32,751	44.2
1963	566.7	33,344	45.7
1964	596.0	34,505	47.4
1965	632.5	35,018	48.5
1966	681.4	35,462	49.1
1967	692.4	35,605	50.9
1968	722.4	36,522	52.7
1969	739.9	36,691	53.5
1970	703.0	36,299	54.2
1971	682.4	36,644	57.8
1972	723.4	37,774	60.3
1973	762.5	37,833	61.4
1974	739.8	36,848	61.2
1975	677.3	36,963	64.3
1976	720.3	37,915	67.0
1977	757.9	38,505	69.7
1978	792.6	38,654	70.4
1979	795.1	37,788	69.8
1980	744.4	36,697	70.1
1981	734.3	36,404	70.7
1982	688.3	36,649	74.2
1983	692.8	37,586	76.7
1984	738.2	38,106	79.5
1985	749.8	38,953	82.3
1986	755.3	39,862	85.9
1987	753.2	39,645	88.3
1988	771.3	39,937	90.2
1989	760.9	39,239	90.3
1990	739.7	38,774	92.9
1991	711.2	38,638	95.0

[Continued]

Relationship Between Wages/Salaries in Manufacturing and Output per Hour (Productivity) [Continued]

	Constant 2000 Dollars			Output per Hour in Manufacturing 1992=100
		Manufacturing Wages & Salaries ($ bil.)	Wages & Salaries per Empl. ($)
1992	716.2	39,559	100.0
1993	706.0	39,057	101.9
1994	720.8	39,340	105.0
1995	731.6	39,496	109.0
1996	739.4	39,978	112.8
1997	770.8	41,273	117.6
1998	799.3	42,505	124.0
1999	808.3	43,569	129.6
2000	830.1	44,946	138.3
% Change, 1950-2000	131.0	90.6	306.8
Source: Productivity data from Bureau of Labor Statistics, U.S. Department of Labor; wage and salary disbursement are from the National Income and Product Accounts maintained by the Bureau of Economic Analysis, U.S. Department of Commerce; manufacturing employment is from the Bureau of Labor Statistics.

Relationship Between Wages/Salaries, Corporate Profits, and Productivity, All Business

Data are in constant 2000 dollars or in index values.
	Corporate Profits ($ bil.)	All Business Aggregate Wages/Salaries ($ bil.)	Wages/Salaries per Empl. ($)	Index of Productivity 1992=100
1950	-	890.3	22,729	36.9
1951	-	942.5	22,748	38.0
1952	-	989.7	23,460	39.2
1953	-	1,062.2	24,388	40.7
1954	-	1,039.6	24,613	41.6
1955	-	1,128.3	25,803	43.3
1956	-	1,204.1	26,705	43.4
1957	-	1,218.9	26,943	44.7
1958	118.7	1,175.0	27,022	46.0
1959	146.8	1,265.2	27,999	47.9
1960	138.9	1,301.4	28,392	48.8
1961	136.9	1,313.1	28,920	50.6
1962	154.9	1,385.6	29,695	52.9
1963	166.1	1,433.9	30,232	55.0
1964	187.6	1,515.9	31,137	57.5
1965	221.0	1,606.1	31,686	59.6
1966	231.1	1,710.8	32,209	62.0

[Continued]

Relationship Between Wages/Salaries, Corporate Profits, and Productivity, All Business [Continued]

	Corporate Profits ($ bil.)	All Business Aggregate Wages/Salaries ($ bil.)	Wages/Salaries per Empl. ($)	Index of Productivity 1992=100
1967	214.8	1,765.8	32,452	63.4
1968	214.9	1,857.1	33,128	65.4
1969	199.4	1,936.4	33,278	65.7
1970	170.2	1,927.5	33,047	67.0
1971	191.8	1,944.8	33,341	69.9
1972	220.3	2,064.8	34,218	72.2
1973	270.5	2,171.9	34,443	74.5
1974	277.7	2,137.0	33,340	73.2
1975	251.1	2,044.0	32,831	75.8
1976	289.5	2,151.1	33,345	78.5
1977	323.4	2,249.4	33,402	79.8
1978	358.2	2,380.2	33,511	80.7
1979	373.1	2,416.3	32,707	80.7
1980	312.6	2,332.6	31,452	80.4
1981	274.3	2,333.3	31,061	82.0
1982	213.9	2,295.0	31,137	81.7
1983	239.5	2,351.0	31,649	84.6
1984	257.7	2,497.6	31,864	87.0
1985	230.5	2,595.3	32,044	88.7
1986	194.6	2,699.0	32,655	91.4
1987	258.7	2,801.3	32,976	91.9
1988	326.7	2,913.9	33,179	93.0
1989	302.5	2,940.0	32,629	93.9
1990	322.8	2,948.5	32,366	95.2
1991	337.4	2,880.9	32,064	96.3
1992	359.4	2,964.0	32,949	100.0
1993	392.7	2,979.6	32,432	100.5
1994	431.1	3,059.2	32,190	101.9
1995	499.2	3,166.0	32,344	102.6
1996	538.1	3,276.6	32,704	105.4
1997	582.9	3,459.8	33,547	107.8
1998	500.2	3,697.7	34,870	110.7
1999	535.3	3,873.9	35,635	113.4
2000	573.9	4,068.8	36,630	116.9
Change, 1958-2000, %	383.4	246.3	35.6	154.1
Source: Productivity data from Bureau of Labor Statistics, U.S. Department of Labor; wage and salary disbursement data and data on corporate profits are from the National Income and Product Accounts maintained by the Bureau of Economic Analysis, U.S. Department of Commerce; profits are normalized using the GDP deflator.

Corporate Profits After Tax and their Distribution

Table shows that undistributed profits, availablefor investment, have de-creased as a percent of total after tax profits.
Profits After Tax (Bil. $)	Dividends (Bil. $)	Undistributed Profits (Bil. $)	Undistributed as % of A.T. Profits
1950	25.3	8.8	16.5	65.2
1951	22.2	8.6	13.7	61.7
1952	20.8	8.6	12.3	59.1
1953	21.4	8.9	12.5	58.4
1954	21.7	9.3	12.4	57.1
1955	27.8	10.5	17.4	62.6
1956	28.5	11.3	17.2	60.4
1957	27.7	11.7	15.9	57.4
1958	24.0	11.6	12.4	51.7
1959	30.0	12.6	17.5	58.3
1960	28.8	13.4	15.5	53.8
1961	28.7	13.9	14.8	51.6
1962	32.9	15.0	17.9	54.4
1963	35.7	16.2	19.5	54.6
1964	40.9	18.2	22.7	55.5
1965	49.1	20.2	28.9	58.9
1966	52.8	20.7	32.1	60.8
1967	50.6	21.5	29.1	57.5
1968	52.8	23.5	29.3	55.5
1969	51.4	24.2	27.2	52.9
1970	46.2	24.3	21.9	47.4
1971	54.7	25.0	29.7	54.3
1972	65.5	26.8	38.6	58.9
1973	84.9	29.9	55.0	64.8
1974	95.0	33.2	61.8	65.1
1975	93.9	33.0	60.9	64.9
1976	114.4	39.0	75.4	65.9
1977	136.0	44.8	91.2	67.1
1978	161.4	50.8	110.6	68.5
1979	182.1	57.5	124.6	68.4
1980	166.6	64.1	102.6	61.6
1981	159.8	73.8	86.0	53.8
1982	132.4	76.2	56.2	42.4
1983	154.1	83.6	70.5	45.7
1984	172.0	91.0	81.0	47.1
1985	158.7	97.7	61.0	38.4
1986	136.9	106.3	30.6	22.4
1987	187.5	112.2	75.3	40.2
1988	244.8	129.6	115.2	47.1
1989	235.3	155.0	80.2	34.1
1990	260.9	165.6	95.3	36.5
1991	282.6	178.4	104.1	36.8

[Continued]

Corporate Profits After Tax and their Distribution [Continued]

Profits After Tax (Bil. $)	Dividends (Bil. $)	Undistributed Profits (Bil. $)	Undistributed as % of A.T. Profits
1992	308.4	185.5	122.9	39.9
1993	345.0	203.1	141.9	41.1
1994	386.7	234.9	151.8	39.3
1995	457.5	254.2	203.3	44.4
1996	502.7	297.7	205.0	40.8
1997	555.2	335.2	220.0	39.6
1998	482.3	348.7	133.6	27.7
1999	523.3	343.5	179.8	34.4
2000	573.9	379.6	194.3	33.9
Source: National Income and Product Accounts, Bureau of Economic Analysis, U.S. Department of Commerce.