Labor Cost Per Unit Of Output Equals The Total Manufacturing Payroll (The Component Of National Income) Divided By Manufacturing Production. Source: For 1946-1947, Index Of Wholesale Prices Of Manufactured Goods, Total Employee Compensation In Manufacturing (Unpublished Data In Bc Files), Index Of Production Manufacturing (; For 1948-1966, "Business Cycle Developments, " February 1967 And Subsequent Issues. This NBER data series m09104 appears on the NBER website in Chapter 9 at http://www.nber.org/databases/macrohistory/contents/chapter09.html. NBER Indicator: m09104

Series Is Presented Here As Two Variables--(1)--Seasonally Adjusted Data, 1919-1929 (2)--Seasonally Adjusted Data, 1927-1950. To Obtain A Continuous Series, The NBER Multiplied The Seasonally Adjusted Data For 1919-October 1927 Shown Below By A Factor Of 1.0115, Obtained From A Ratio Of The Data From November 1927 Through 1928 Of The Two Series. Source: Index Of Wholesale Prices Of Manufactured Goods: 1919-1929. For The List Of Commodities Entering Into This Index, See Bulletin No. 572 (1931) P. 11. Data For 1926 Are From The 1930 Bulletin. Called Manufactured Products Beginning April, 1940. See "Wholesale Prices", April, 1940, P. 1, Footnote: "Formerly Finished Products With No Change In Items." This NBER data series m09106a appears on the NBER website in Chapter 9 at http://www.nber.org/databases/macrohistory/contents/chapter09.html. NBER Indicator: m09106a

Source: Bureau Of Census; The Latter Is Derived From Wage And Salary Disbursements In Manufacturing (Component Of Personal Income Seasonally Adjusted), And Federal Reserve Board "Index Of Manufacturing Production." This NBER data series m09105 appears on the NBER website in Chapter 9 at http://www.nber.org/databases/macrohistory/contents/chapter09.html. NBER Indicator: m09105