Word: man-hour
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Output per man-hour in all private industry last year increased by more than 4%, surpassing the average of just over 3% a year for the 1947-59 period. In the steel industry, productivity rose 12%, in hard-coal mining 10.2%, in railroads 6%. Although non-farm industries advanced more than average, agriculture showed virtually no gain, indicating that the mechanization that increased productivity about 6% a year from 1947 through 1958 is largely completed...
...International Union of Electrical Workers now argue that earnings should rise at the same rate as productivity. But productivity jumps, insists management, not only reflect increased output per worker but increased capital investment and automation. Productivity also has an effect on prices and inflation. An increase in output per man-hour not only makes more goods available; it makes possible either lower prices or higher profits-or some of both...
VOLUNTARY PAY CUT will be taken by workers at financially ailing Pittsburgh Steel Co., 14th largest U.S. steel company. Union agreed to reduction that will eventually save company 15? per man-hour in incentive-pay costs...
...next three months; Government purchasing will rise by $1 billion in the second half. Congress also added $661 million to the defense budget last week. Another cheering sign is the continuing increase in productivity. Last week the Labor Department reported that the output of goods and services per man-hour last year rose about 4.4% above 1958 (see chart...
...United Steelworkers are entitled to a just wage increase and other fringe benefits owing to their greater dexterity, improved efficiency, and increased productivity per man-hour per pound of steel produced. On the other hand, the steel industry is entitled to a just return on investment per dollar...