Conference – 1994 Trade, Multinationals and Labour

Table 1: Real Compensation and Output
Year Earnings/CPI
(1)
Comp/CPI
(2)
Output/Hour
(3)
Comp/POut
(4)
Comp/POut-I
(5)
Comp/CPI-Sh
(6)
FWTOT
(7)
Comp Share
(8)
GDP87/Hours
(9)
1970 98.0 89.4 87.5 88.5 86.1 88.1 126.5 67.0 89.3
1971 100.4 91.2 90.4 89.7 86.9 89.8 124.2 65.7 92.5
1972 104.3 93.9 93.2 91.8 89.4 92.7 120.0 65.2 93.9
1973 104.5 96.1 95.6 94.0 91.6 94.4 116.9 65.1 95.4
1974 101.4 95.1 93.9 94.3 92.0 93.2 107.1 66.5 94.7
1975 99.1 95.8 96.0 94.3 92.9 94.1 106.9 65.0 97.9
1976 100.7 98.8 98.8 97.3 96.0 96.9 107.3 65.2 100.0
1977 102.1 100.3 100.5 98.7 98.0 98.4 103.8 65.0 100.7
1978 102.7 101.4 101.1 99.4 99.2 100.3 102.0 65.1 100.6
1979 100.0 100.0 100.0 100.0 100.0 100.0 100.0 66.2 100.0
1980 95.2 97.5 99.3 101.0 100.8 99.2 91.7 67.3 100.4
1981 93.9 96.8 100.5 100.4 101.0 98.9 93.9 66.1 101.5
1982 93.8 98.0 100.7 102.1 102.1 100.6 97.6 67.1 101.8
1983 94.9 98.5 102.9 102.4 101.1 100.5 101.5 65.9 103.9
1984 94.3 98.4 105.3 102.6 101.5 100.7 104.4 64.5 104.4
1985 93.8 99.3 106.8 103.7 101.9 102.2 105.7 64.3 105.4
1986 94.1 102.4 109.0 106.6 104.7 106.2 107.6 64.7 107.8
1987 93.2 102.3 110.1 107.5 105.4 106.4 102.5 64.6 107.8
1988 92.4 102.4 111.1 108.2 105.9 106.8 102.7 64.5 108.4
1989 91.8 101.0 110.2 107.1 104.5 105.3 102.0 64.3 108.4
1990 90.3 101.1 110.5 108.8 105.6 105.4 100.2 65.2 109.2
1991 89.4 101.4 110.5 109.5 105.1 105.8 101.5 65.6 110.4
Note: Earnings = average hourly earnings
CPI = CPI for all urban consumers
Comp = Average hourly compensation
CPI-Sh = CPI minus shelter component
CompShare = share of compensation in business output value added
Output = business sector output (excludes housing)
POut = deflator for output
POut-I = deflator for output minus investment
FWTOT = ratio of fixed weight price index of exports of goods and services to price index of imports
Hours = hours worked in business sector