Word: man-hours
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...guidelines for productivity increases that have been set by the government as a prerequisite for additional investment in British Leyland. In general the productivity of European workers is substantially lower than that of their U.S. counterparts at the workbench or assembly line. Though European growth rates in output per man-hour are often increasing at a faster rate than those in the U.S., Europe's best worker, who happens to be French, produces only 80.6% as much as a U.S. worker. The British worker, who is Europe's worst, turns out only 54.4% as much...
...businessmen succeeded in maintaining or even increasing prices during the recession. Their total profits fell last year as sales dropped off, but their profit margin on each dollar of sales held up fairly well. Now, with sales rebounding, the margins translate into zooming total profits. In addition, output per man-hour in nonfarm industries is rising nearly as fast as labor costs. That may change as more workers are hired and wages rise, but for the moment it means fatter profits. Most important, consumers are now buying the autos, appliances, clothes and other products they passed by during the recession...
...talk through their problems." Indeed, labor-management experts generally expect a major strike only in the rubber industry. And most economists reckon that wage and benefit increases negotiated in 1976 should average a fairly reasonable 8% to 11% in the first year of the contract. Since output per man-hour is rising as production picks up, the Council of Economic Advisers regards that prospect as no threat to its prediction that the rate of inflation will slow to 6% this year, from...
Macrae is also angry about American industry. The growth of U.S. output per man-hour in manufacturing in the past 25 years has fallen behind that of other industrial nations because of a slowdown of U.S. investment in new technology. American businessmen, like those in Britain, have succumbed to the rule of corporate bureaucrats. The spirit of entrepreneurship is broken...
...Supermarket sales per man-hour were lower in 1973 than...