RBA Annual 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