Word: man-hours
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...production. The best overall measure of the efficiency of management and workers is output per man-hour in the nation's factories and offices. Late last year, productivity in the private nonfarm area declined slightly and that aggravated inflation. Reason: when productivity falls while wages rise, businessmen have to increase prices to cover costs. Inefficiency is not only impinging on production but also on the actual span of life in the U.S. Inefficiencies in the medical system have contributed to a decline in the life expectancy of the average American at birth, from 70.8 years in 1967 to 70.4 years...
...Khrushchev's day, for example, Moscow predicted a 1970 output of as much as a trillion kilowatt hours of electricity; the goal was later reduced to 850 billion and last month was lowered again to 740 billion. Output per man-hour, which Khrushchev had boasted would surpass the U.S. level by this year, has been growing at a slower rate for the past two years and stands at only 43% of U.S. labor productivity. Soviet industrial production is now expected to rise only 6.3% this year, v. a 7% growth last year...
...labor over excessive price or wage boosts. The old guideposts permitted annual wage increases of 3.2%, an amount equal to average gains in productivity over a long period. Now productivity is falling, and workers can hardly be expected to take wage cuts to match the decline in output per man-hour. As for jawboning, Nixon's Republican advisers consider it unfair and almost immoral to single out individual companies or industries, as Presidents Kennedy and Johnson did, for public or private attack over prices...
...labor costs still account for a substantial part of the price differential between Japan-made cars and American or German products. Auto workers in Japan are paid an average wage of 6? an hour, compared with $2.42 in West Germany and $5.30 in the U.S. Moreover, industrial output per man-hour has been rising by 21% a year since 1960, while total labor costs have been climbing by only 11%. With such economic advantages, Japanese automakers have lately been able to snare a rapidly increasing share of the world auto market. Auto and truck exports rose 51% last year...
...number of deaths has stayed nearly the same since 1963, while disabling injuries have actually been on the increase. A number of other industrial nations pay more attention to safety and have better records to show for it. British fatalities in manufacturing run only half as high per man-hour as those in the U.S. In construction, the U.S. death rate is 30 times that in Belgium and The Netherlands, 50 times that in Poland. Japan, undergoing breakneck economic expansion, has adopted a comprehensive set of job-safety regulations, which are enforced by 2,000 government inspectors. As a result...