Word: manhours
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From 1950 to 1977 output per manhour increased at an average annual rate of 2.4 percent in the U.S. and 5.2 percent in other major industrial countries. The American problem results not simply from continued relative decline of productivity compared to other major countries, but because the price of exports relative to all manufactured goods has declined in many countries like Japan but this is not true for the United States...
...industry reckons it, would increase labor costs by 2.7% a year, or about 30? an hour over three years (present steel wages average $3.10 an hour, plus fringe benefits). According to Labor Department figures, 2.7% has been just about the average yearly increase in steel-industry productivity (output per manhour) since World War II, hence would be noninflationary. In addition, industry wants to submit the work-practices dispute to a two-man panel-one member chosen by the industry, one by the union-with compulsory third-party arbitration if the panel fails to reach agreement...