The following data was obtained on August 19, 2017 from the US Bureau of Labor Statistics.

The graphs on the next slide show the following sectors of the economy:
1. Total Business (excludes government, non-profit)
2. Non-farm Corporate (produces non-farm final goods and services)

The plots show the annual percentage change in the following economic indicators from 1947 to 2016:
1. Labor Productivity (Total Dollar value of output/Total Number of Hours Worked)
2. Output (Total Dollar value of all good and services produced)
3. Real Labor Compensation (Dollar value of wages + benefits to employees, adjusted for inflation)

• Since 2000, compensation growth in the overall business and corporate sectors has generally been below the pre-2000 averages.
  
• Prior to 2000, corporate output growth was usually as good or better than the overall business sector, but this has changed since 2000.
  
• Corporate compensation growth has generally been lower than the overall business sector.