USDL 04-119
TRANSMISSION OF THIS
MATERIAL IS EMBARGOED
UNTIL 8:30 A.M. EST,
THURSDAY, FEBRUARY 5, 2004
Internet address: http://www.bls.gov/lpc/
Historical, technical
information: (202) 691-5606
Current data: (202) 691-5200
Media contact: (202) 691-5902
PRODUCTIVITY AND COSTS
Preliminary Fourth Quarter and
Annual Averages for 2003
The Bureau of Labor Statistics of the U.S. Department of Labor today
reported preliminary productivity data-as measured by output per hour of all
persons-for the fourth quarter and for the full year 2003. The seasonally
adjusted annual rates of productivity change in the fourth quarter and the
annual average changes were:
Fourth Annual averages
quarter 2002-2003
Business sector 1.8 4.3
Nonfarm business sector 2.7 4.2
In the fourth quarter, productivity increased 1.8 percent in the
business sector following an 8.7-percent increase (as revised) one quarter
earlier (seasonally adjusted annual rates). In nonfarm businesses,
productivity also grew more slowly in the fourth quarter, 2.7 percent, than
it had one quarter earlier, when it rose 9.5 percent. On an annual average
basis, productivity rose 4.3 percent in the business sector and 4.2 percent
in the nonfarm business sector. Fourth-quarter productivity and related
measures are summarized in table A and annual average data in table B.
Detailed information is presented in tables 1 through 5.
In the manufacturing sector, increases in productivity were:
Fourth Annual averages
quarter 2002-2003
Manufacturing sector 4.8 4.3
Durable goods manufacturing 6.4 6.7
Nondurable goods manufacturing 3.8 1.2
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Productivity and cost measures for the manufacturing sector are now reported
using the 2002 North American Industry Classification System (NAICS).
Because of the reclassification, these measures are not directly comparable
with manufacturing measures published on or before Dec. 3, 2003. See
"Revised Measures".
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Table A. Productivity and costs: Preliminary fourth-quarter 2003 measures
(Seasonally adjusted annual rates)
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Real
Hourly hourly Unit
Produc- compen- compen- labor
Sector tivity Output Hours sation sation costs
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Percent change from preceding quarter
Business 1.8 3.7 1.9 0.9 0.1 -0.8
Nonfarm business 2.7 4.2 1.5 1.3 0.5 -1.3
Manufacturing 4.8 6.6 1.7 1.5 0.7 -3.1
Durable 6.4 10.2 3.6 0.6 -0.3 -5.5
Nondurable 3.8 2.6 -1.1 2.9 2.0 -0.9
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Percent change from same quarter a year ago
Business 5.2 5.0 -0.2 3.3 1.4 -1.8
Nonfarm business 5.3 5.2 -0.2 3.3 1.3 -2.0
Manufacturing 5.2 1.8 -3.3 4.3 2.4 -0.9
Durable 7.2 3.9 -3.1 3.9 2.0 -3.1
Nondurable 3.1 -0.7 -3.6 5.0 3.1 1.9
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Manufacturing productivity grew 4.8 percent in the fourth quarter,
reflecting a 6.6-percent increase in output and a 1.7-percent rise in hours
of all persons. On an annual average basis, output per hour in the
manufacturing sector posted a 4.3-percent increase in 2003. Output and hours
in manufacturing, which includes about 13 percent of U.S. business-sector
employment, tend to vary more from quarter to quarter than data for the
aggregate business and nonfarm business sectors.
The data sources and methods used in the preparation of the
manufacturing series differ from those used in preparing the business and
nonfarm business series, and these measures are not directly comparable.
Output measures for business and nonfarm business are based on measures of
gross domestic product prepared by the Bureau of Economic Analysis of the
U.S. Department of Commerce. Quarterly output measures for manufacturing
reflect indexes of industrial production prepared by the Board of Governors
of the Federal Reserve System. See Technical Notes for further information
on data sources.
THIRD-TO-FOURTH QUARTER CHANGES, 2003
Business
Productivity in the business sector increased by 1.8 percent in the
fourth quarter of 2003, reflecting increases of 3.7 percent in output and 1.9
percent in hours of all persons (seasonally adjusted annual rates). The
fourth-quarter rise in hours of all persons was the largest since a 2.5-
percent increase in the fourth quarter of 1999. Hours had risen 1.4 percent
in the third quarter of 2003. Both the productivity and output increases
were smaller than the increases recorded in the previous quarter, when
productivity rose 8.7 percent and output grew 10.3 percent. The 10.3-percent
output increase in the third quarter was the largest in the sector since the
second quarter of 1983, when output rose at an 11.7-percent annual rate.
Hourly compensation rose 0.9 percent in the fourth quarter of 2003,
following a 2.7-percent increase one quarter earlier. This measure includes
wages and salaries, supplements, employer contributions to employee-benefit
plans, and taxes. Real hourly compensation, which takes into account changes
in consumer prices, grew 0.1 percent during the fourth quarter of 2003. This
measure rose 0.4 percent in the third quarter.
The unit labor cost measure, which relates hourly compensation to output
per hour, dropped 0.8 percent in the fourth quarter. Unit labor costs also
fell in the previous two quarters, 5.5 percent in the third quarter 2003 and
1.7 percent in the second quarter. These costs had risen 1.2 percent in the
first quarter of the year.
Nonfarm business
In the nonfarm business sector, productivity increased 2.7 percent in
the fourth quarter of 2003. Output grew 4.2 percent and hours of all persons
grew 1.5 percent (seasonally adjusted annual rates). As in the larger
business sector, the fourth-quarter productivity increase was less than the
third-quarter increase. As revised, productivity increased 9.5 percent in
the third quarter of 2003, reflecting a 10.4-percent rise in output and 0.8-
percent growth in hours of all persons (table 2). The third-quarter output
increase was the largest since a 12.3 percent rise was posted in the third
quarter of 1983 and the fourth-quarter hours increase was bigger than any
since the first quarter of 2000, when hours rose 1.7 percent.
Hourly compensation in the nonfarm business sector rose 1.3 percent in
the fourth quarter of 2003, down from the 3.4-percent rise of the third
quarter. When the changes in consumer prices were taken into account, real
hourly compensation grew 0.5 percent during the fourth quarter of 2003 and
1.0 percent one quarter earlier.
Unit labor costs dropped 1.3 percent in the fourth quarter, after
falling 5.6 percent in the third quarter of 2003 and 1.3 percent in the
second quarter. The implicit price deflator for nonfarm business output
increased 0.3 percent in the fourth quarter of 2003, after increasing 1.1
percent one quarter earlier.
Manufacturing
Manufacturing productivity grew 4.8 percent (seasonally adjusted annual
rate) in the fourth quarter of 2003 as output and hours increased 6.6 and 1.7
percent, respectively (table 3). This was the largest increase in
manufacturing output since a 7.1-percent increase in the fourth quarter of
1997. The hours increase was the first since a 0.1-percent rise in the
second quarter of 2000. In the third quarter, manufacturing productivity
increased 9.7 percent, reflecting a 4.3-percent rise in output and a 5.0-
percent decrease in hours. In durable goods manufacturing, productivity rose
6.4 percent in the fourth quarter as output grew 10.2 percent and hours
increased 3.6 percent (table 4). Among nondurable goods manufacturers,
productivity increased 3.8 percent in the fourth quarter as output rose 2.6
percent and hours at work in the sector fell 1.1 percent (table 5).
Average hourly compensation of manufacturing workers increased 1.5
percent in the fourth quarter of 2003, reflecting increases in hourly
compensation of 0.6 percent in durable goods manufacturing and 2.9 percent in
nondurable goods manufacturing. When the increase in consumer prices was
taken into account, real hourly compensation in total manufacturing rose 0.7
percent.
Unit labor costs for the manufacturing sector dropped by 3.1 percent in
fourth quarter 2003. In durable goods manufacturing, unit labor costs fell
5.5 percent and, in nondurable goods manufacturing, unit labor costs
decreased 0.9 percent.
ANNUAL AVERAGE CHANGES, 2002-2003
Business
Business sector productivity increased 4.3 percent when the annual
average for 2003 was compared with the annual average for 2002 (table B).
Output increased 3.7 percent and hours of all persons engaged in the sector
dropped 0.6 percent. Productivity had increased 4.8 percent in 2002, when
output rose 2.3 percent and hours fell 2.4 percent. The 4.8-percent
productivity increase in 2002 was the largest in the sector since an 8.1-
percent rise was posted in 1950. Also, the combination of the 4.8 percent
productivity increase in 2002 and the 4.3 percent increase in 2003 produced
the largest two-year gain, a 4.5-percent average annual rate of growth, since
1949-51, when it grew at a 5.7-percent annual rate, reflecting annual
increases of 8.1 percent in 1950 and 3.1 percent in 1951.
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Table B.Annual average changes in productivity and related measures, 1994-2003
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Measure 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
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Business:
Productivity 1.2 0.3 2.8 1.9 2.6 2.9 2.9 2.2 4.8 4.3
Output 5.0 2.9 4.6 5.3 4.8 5.1 3.9 0.1 2.3 3.7
Hours 3.8 2.6 1.8 3.3 2.2 2.1 1.0 -2.1 -2.4 -0.6
Hourly
compensation 1.6 2.2 3.2 3.2 5.9 4.8 7.0 4.1 2.1 3.0
Real hourly
compensation -0.5 -0.3 0.5 1.1 4.4 2.7 3.5 1.3 0.5 0.7
Unit labor costs 0.4 1.9 0.5 1.3 3.2 1.8 4.0 1.8 -2.5 -1.2
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Nonfarm Business:
Productivity 1.2 0.6 2.5 1.7 2.6 2.8 2.7 2.1 4.9 4.2
Output 4.8 3.2 4.5 5.2 5.0 5.2 3.8 0.1 2.3 3.7
Hours 3.5 2.6 1.9 3.4 2.3 2.3 1.1 -2.0 -2.5 -0.5
Hourly
compensation 1.7 2.2 3.2 3.1 5.8 4.7 7.0 3.9 2.2 2.9
Real hourly
compensation -0.4 -0.2 0.5 1.0 4.3 2.5 3.6 1.1 0.6 0.6
Unit labor costs 0.5 1.6 0.6 1.4 3.2 1.8 4.2 1.7 -2.5 -1.2
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Manufacturing:
Productivity 3.3 3.9 3.4 3.5 4.7 3.8 4.6 2.2 6.8 4.3
Output 5.7 4.5 3.2 5.5 4.5 2.9 3.0 -4.6 -0.6 0.1
Hours 2.3 0.6 -0.2 1.9 -0.2 -0.9 -1.5 -6.6 -7.0 -4.0
Hourly
compensation 3.3 2.0 2.0 1.9 6.1 4.2 9.1 2.4 3.6 4.5
Real hourly
compensation 1.1 -0.4 -0.6 -0.2 4.6 2.1 5.6 -0.4 2.0 2.2
Unit labor costs 0.0 -1.8 -1.3 -1.5 1.3 0.3 4.2 0.2 -3.0 0.3
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Hourly compensation in the business sector increased 3.0 percent in
2003, more than the 2.1-percent increase in 2002. Real hourly compensation
increased 0.7 percent in 2003 and 0.5 percent one year earlier. Unit labor
costs in the business sector fell 1.2 percent in 2003 and 2.5 percent in
2002. These were the first annual declines in these costs since the early
1960s. (Unit labor costs fell 0.3 percent in 1963 and 0.1 percent in 1962.)
The implicit price deflator for the business sector rose 1.3 percent in 2003
and 0.8 percent in 2002.
Nonfarm business
Productivity increased 4.2 percent in the nonfarm business sector during
2003, reflecting a 3.7-percent rise in output and a 0.5-percent decline in
hours. During 2002, productivity had increased 4.9 percent in nonfarm
business, as output rose 2.3 percent and hours of all persons fell 2.5 per
cent. As in the larger business sector, the 2002 productivity increase was
the largest since 1950, when productivity rose 6.6 percent. When the
productivity increases for 2002 and 2003 are combined, productivity for the
2001-2003 period rose 4.5 percent in nonfarm businesses. The last comparable
two-year rise occurred over the 1949-1951 period, when productivity increased
at a 4.6 percent annual rate, incorporating rises of 6.6 percent in 1950 and
2.7 percent in 1951.
In 2003, hourly compensation increased 2.9 percent, up from the 2.2-
percent rise in 2002. When the increase in consumer prices was taken into
account, real hourly compensation rose 0.6 percent in both 2003 and 2002.
Unit labor costs in the nonfarm business sector dropped 1.2 percent in
2003, less than the 2.5-percent decline in 2002. Prior to 2002, the last
time annual unit labor costs in the nonfarm business sector declined was in
1983, when they dropped 0.3 percent. The implicit price deflator for nonfarm
business rose 1.2 percent in 2003 and 0.9 percent in 2002.
Manufacturing
In manufacturing, labor productivity rose 4.3 percent in 2003 and 6.8
percent in 2002. The 2003 increase occurred as output grew 0.1 percent and
hours of all persons fell 4.0 percent (table B). There was a 6.7-percent
increase in durable goods manufacturing productivity, as output rose 2.1
percent and hours fell 4.3 percent. Nondurable goods manufacturing posted a
more modest increase in productivity, 1.2 percent, reflecting an output
decline of 2.2 percent and a drop in hours of 3.3 percent.
Hourly compensation of manufacturing workers increased 4.5 percent in
2003, more than the 3.6-percent growth in 2002. In 2003, hourly compensation
rose 4.3 percent in durable goods manufacturing and 5.0 percent in nondurable
good manufacturing. Taking into account the rise in consumer prices, real
hourly compensation in manufacturing rose 2.2 percent in 2003 and 2.0 percent
one year earlier.
Unit labor costs in manufacturing grew 0.3 percent in 2003. These costs
had declined 3.0 percent in calendar year 2002. Unit labor costs in durable
goods manufacturing declined 2.2 percent in 2003, compared with a 3.8-percent
rise in unit labor costs in nondurable goods manufacturing.
Revised Measures
Current and previous measures for the third quarter of 2003 for the
business and nonfarm business sectors are compared in table C. In both
sectors, productivity, output, and hours growth in the third quarter were
similar to those reported on Dec. 3. Also in both sectors, hourly
compensation and real hourly compensation grew more than reported in
December. Because hourly compensation was revised up more than labor
productivity, unit labor costs in the third quarter dropped less than
reported two months ago.
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Table C. Previous and revised productivity and related measures
Quarterly percent change at seasonally adjusted annual rate
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Real
Hourly hourly Unit
Produc- compen- compen- labor
Sector tivity Output Hours sation sation costs
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Third quarter 2003
Business:
Previous 8.6 10.2 1.4 2.3 0.0 -5.8
Current 8.7 10.3 1.4 2.7 0.4 -5.5
Nonfarm business:
Previous 9.4 10.3 0.8 3.0 0.7 -5.8
Current 9.5 10.4 0.8 3.4 1.0 -5.6
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Measures of productivity and costs for manufacturing also differ from
those published on Dec. 3-however, the current manufacturing measures are not
strictly comparable with earlier series. The manufacturing sectors are now
defined using the 2002 North American Industry Classification System (NAICS
2002); previously these measures were classified on the 1987 Standard
Industrial Classification (SIC). Some detailed industries formerly included
in manufacturing are no longer included, while some detailed industries
formerly in other sectors are now included. On net, the NAICS changes have
reduced the size of the manufacturing sector.
Measures of productivity and costs for the business, nonfarm business,
and manufacturing sectors were revised for all years and quarters. See
"Historical Revisions".
Revised measures: Nonfinancial Corporations
Revised third-quarter productivity and output measures for nonfinancial
corporations also were announced today. In the third quarter, output and
productivity increased less and hours fell less than reported on Dec. 3.
Hourly compensation was revised up. This, combined with the downward
revision to productivity, led to less of a decline in unit labor costs (table
D). Historical measures for nonfinancial corporations also were revised for
all years and quarters. See "Historical Revisions."
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Table D. Nonfinancial corporations: Previous and revised productivity and
cost measures
Quarterly percent changes at seasonally adjusted annual rates
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Real
Hourly hourly Unit Implicit
Produc- compen- compen- labor Unit price
tivity Output Hours sation sation costs profits deflator
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Third quarter 2003
Previous 9.2 8.9 -0.2 3.0 0.7 -5.6 60.9 0.6
Current 8.6 8.5 -0.1 3.6 1.2 -4.6 46.2 0.9
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Historical revisions
All measures of output for the business, nonfarm business, and
nonfinancial corporate sectors have been revised to reflect the recent
release of revised national income and product accounts by the Bureau of
Economic Analysis (BEA), U.S. Department of Commerce. Compensation measures
for all sectors, including manufacturing, also were revised to incorporate
these new data. In addition, historical measures of employment and hours for
the business, nonfarm business, and nonfinancial corporate sectors were
revised to incorporate both revised historical information from the BEA and
the most recent information from the 1997 economic censuses conducted by the
Census Bureau on the proportions of persons working in nonprofit institutions
serving individuals and those in for-profit nonfinancial corporations.
Revised output, compensation, and employment and hours data for the
manufacturing and nonfinancial corporate sectors also reflect conversion from
the 1987 Standard Industrial Classification to the 2002 North American
Industry Classification System. The annual output measures for manufacturing
incorporate the Census Bureau's 2001 Annual Survey of Manufactures.
Appendix tables 1-6 show the revised annual measures for all sectors.
Links to tables showing the full historical revision including the quarterly
measures will be posted on the productivity and costs home page,
http://www.bls.gov/lpc/home.htm. Measures for the manufacturing, durable
manufacturing, and nondurable manufacturing sectors now begin in 1987.
Because the BEA compensation data extend back only to 1998, the BLS
constructed measures for 1987-97 based on trends in compensation data from
its industry productivity program. BLS may consider the possibility of
extending the productivity and cost measures back further but currently has
no plans to do so.
Upcoming changes to productivity and cost data
New estimates of average weekly hours at work for nonproduction and
supervisory workers will be introduced into the BLS major sector productivity
and cost measures beginning with the August 10, 2004, release. An article
discussing these new measures and the effects of this change will be
published in the Monthly Labor Review sometime in the next few months. A
technical note describing the methodology will be available this summer.
In addition, on Aug. 10, the BLS intends to begin adjusting its hours
series derived from the Current Population Survey (employment and hours for
the farm sector, nonfarm self-employed, and nonfarm unpaid family workers and
hours for employees of government enterprises) for the effects of multiple
jobholding and to begin using concurrent seasonal adjustment for these
series. Further information on these changes will be announced later this
year.
Next release date
The next release of Productivity and Costs is scheduled for 8:30 A.M.
EST, Thursday, March 4, 2003. Revised fourth-quarter and annual average
measures for business, nonfarm business, and manufacturing will be released
at that time. This release will incorporate changes due to the annual
benchmark adjustment and updated information on seasonal trends from the BLS
nonfarm payroll series.
TECHNICAL NOTES
Labor Hours: Hours data for the labor productivity and cost measures include
hours for all persons working in the sector-wage and salary workers, the self-
employed, and unpaid family workers. The primary source of hours and em
ployment data is the BLS Current Employment Statistics (CES) program, which
provides monthly survey data on the number of jobs held by wage and salary
workers in nonfarm establishments. The CES also provides average weekly paid
hours of production and nonsupervisory workers in these establishments. The
Office of Productivity and Technology estimates average weekly paid hours of
nonproduction and supervisory workers. Weekly paid hours were adjusted to
hours at work using the BLS Hours at Work survey, conducted for this purpose.
Data from the National Compensation Survey are used for recent years.
Data from the BLS Current Population Survey (CPS) are used for farm
labor, nonfarm proprietors, and nonfarm unpaid family workers. Estimates of
labor input for government enterprises are derived from the CPS, the CES, and
the National Income and Product Accounts (NIPA) prepared by the Bureau of
Economic Analysis (BEA) of the Department of Commerce.
Output: Business sector output is an annual-weighted index constructed after
excluding from gross domestic product (GDP) the following outputs: General
government, nonprofit institutions, and private households (including owner-
occupied housing). Corresponding exclusions also are made in labor inputs.
Business output accounted for about 78 percent of the value of GDP in 2000.
Nonfarm business, which also excludes farming, accounted for about 77 percent
of GDP in 2000.
Annual indexes for manufacturing and its durable and nondurable goods
components are constructed by deflating current-dollar industry value of
production data from the U.S. Bureau of the Census with deflators from the
BEA. These deflators are based on data from the BLS producer price program
and other sources. The industry shipments are aggregated using annual
weights, and intrasector transactions are removed. Quarterly manufacturing
output measures are based on the index of industrial production prepared
monthly by the Board of Governors of the Federal Reserve System adjusted to
be consistent with annual indexes of manufacturing sector output prepared by
BLS. Durables include the following 3-digit NAICS industries: wood product
manufacturing; nonmetallic mineral product manufacturing; primary metal
manufacturing; fabricated metal product manufacturing; machinery manufac
turing; computer and electronic product manufacturing; electrical equipment
and appliance manufacturing; transportation equipment manufacturing;
furniture and related product manufacturing; and miscellaneous manufacturing.
Nondurables include: Food manufacturing; beverage and tobacco product manufac
turing; textile mills; textile product mills; apparel manufacturing; leather
and allied product manufacturing; paper manufacturing; printing and related
support activities; petroleum and coal products manufacturing; chemical manu
facturing; and plastics and rubber products manufacturing.
Nonfinancial corporate output is an annual-weighted index calculated on
the basis of the costs incurred and the incomes earned from production. The
output measure excludes the following outputs from GDP: general government;
nonprofit institutions; private households; unincorporated business; and
those corporations classified as offices of bank holding companies, offices
of other holding companies, or in the finance and insurance sector.
Nonfinancial corporations accounted for about 54 percent of the value of GDP
in 2000.
Productivity: These productivity measures describe the relationship between
real output and the labor time involved in its production. They show the
changes from period to period in the amount of goods and services produced
per hour. Although these measures relate output to hours at work of all
persons engaged in a sector, they do not measure the specific contribution of
labor, capital, or any other factor of production. Rather, they reflect the
joint effects of many influences, including changes in technology; capital
investment; level of output; utilization of capacity, energy, and materials;
the organization of production; managerial skill; and the characteristics and
effort of the work force.
Information in this release will be made available to sensory-impaired
individuals upon request. Voice phone: 202-691-5606; Federal Relay Service
number: 1-800-877-8339.
Table 1. Business sector: Productivity, hourly compensation, unit labor costs,
and prices, seasonally adjusted
Real
Year Output per Hours Compensa- compensa- Unit Unit non- Implicit
and hour of of all tion per tion per labor labor pay- price
quarter all persons Output persons hour (1) hour (2) costs ments (3) deflator (4)
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Indexes 1992=100
2001 I r116.8 r141.2 r120.9 r138.1 r112.5 r118.2 r107.1 r114.1
II 117.8 r140.8 r119.6 r139.2 r112.4 r118.2 r109.6 r115.0
III r118.2 r139.9 r118.3 r140.2 r112.9 r118.6 r109.4 r115.2
IV r120.3 r140.6 r116.9 r141.4 r114.1 r117.6 r112.0 r115.5
ANNUAL r118.3 r140.6 r118.9 r139.7 r113.0 r118.1 r109.5 r114.9
2002 I r122.7 r142.6 r116.2 r141.7 r114.0 r115.5 r115.0 r115.3
II r123.2 r143.1 r116.1 r142.6 r113.7 r115.7 r115.8 r115.7
III r124.7 r144.6 r116.0 r143.0 113.5 r114.7 r117.9 r115.9
IV r125.1 r145.1 r116.0 r143.5 r113.3 r114.7 r119.4 r116.5
ANNUAL r123.9 r143.8 r116.1 r142.7 r113.6 r115.1 r117.0 r115.8
2003 I r126.1 r145.8 r115.7 r145.0 r113.4 r115.1 r120.0 r116.9
II r128.2 r147.3 r114.9 r146.9 r114.7 r114.6 r121.6 r117.2
III r130.9 r151.0 r115.3 r147.9 r114.8 r112.9 r125.3 r117.6
IV 131.5 152.4 115.8 148.2 114.8 112.7 126.6 117.9
ANNUAL 129.2 149.1 115.4 147.0 114.4 113.8 123.4 117.4
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Percent change from previous quarter at annual rate(5)
2001 I r-0.3 r-0.8 r-0.6 r5.6 r1.8 r5.9 r-3.0 r2.7
II r3.2 r-1.2 -4.3 r3.0 r-0.3 r-0.3 r9.6 r3.1
III r1.5 r-2.6 r-4.0 r2.9 r2.0 r1.5 r-0.4 r0.8
IV r7.3 r2.2 -4.8 r3.7 r4.2 r-3.4 r9.6 r1.1
ANNUAL r2.2 r0.1 -2.1 r4.1 r1.3 1.8 r2.1 r1.9
2002 I r8.3 r5.6 r-2.5 r0.8 r-0.5 r-7.0 r11.1 r-0.7
II r1.6 r1.4 -0.2 r2.5 r-1.0 r0.9 r2.9 r1.6
III r4.9 r4.3 -0.6 r1.3 r-0.8 r-3.4 r7.4 0.5
IV r1.3 r1.6 r0.3 r1.3 r-0.7 r0.0 r5.1 r1.9
ANNUAL r4.8 r2.3 r-2.4 r2.1 r0.5 r-2.5 r6.8 r0.8
2003 I r3.2 r1.9 -1.2 r4.4 r0.6 r1.2 r2.3 1.6
II r7.1 r4.2 -2.7 r5.2 r4.6 r-1.7 r5.2 r0.9
III r8.7 r10.3 1.4 r2.7 r0.4 r-5.5 r12.9 r1.3
IV 1.8 3.7 1.9 0.9 0.1 -0.8 3.9 1.0
ANNUAL 4.3 3.7 -0.6 3.0 0.7 -1.2 5.5 1.3
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Percent change from corresponding quarter of previous year
2001 I r2.7 r1.9 -0.8 r4.6 r1.2 r1.8 r1.7 r1.8
II r1.5 r-0.2 -1.7 r4.9 r1.5 r3.3 r0.0 2.1
III r2.0 r-0.7 -2.6 r3.5 r0.8 r1.4 r3.0 r2.0
IV r2.9 r-0.6 -3.4 r3.8 r1.9 r0.9 r3.8 r1.9
ANNUAL r2.2 r0.1 -2.1 r4.1 r1.3 1.8 r2.1 r1.9
2002 I r5.0 r1.0 -3.9 2.6 1.4 r-2.3 r7.4 r1.1
II r4.6 r1.6 -2.9 r2.4 r1.2 r-2.1 r5.7 r0.7
III r5.5 r3.4 r-2.0 r2.0 r0.4 r-3.3 r7.7 r0.6
IV r4.0 r3.2 r-0.7 r1.5 r-0.8 r-2.4 r6.6 r0.8
ANNUAL r4.8 r2.3 r-2.4 r2.1 r0.5 r-2.5 r6.8 r0.8
2003 I 2.7 r2.3 r-0.4 r2.4 r-0.5 r-0.3 r4.4 r1.4
II r4.1 r3.0 -1.1 r3.1 r0.9 r-1.0 r5.0 r1.2
III 5.0 4.4 -0.6 r3.4 r1.2 r-1.5 r6.3 1.4
IV 5.2 5.0 -0.2 3.3 1.4 -1.8 6.0 1.2
ANNUAL 4.3 3.7 -0.6 3.0 0.7 -1.2 5.5 1.3
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See footnotes following Table 6. February 5, 2004
r=revised Source: Bureau of Labor Statistics
Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor costs,
and prices, seasonally adjusted
Real
Year Output per Hours Compensa- compensa- Unit Unit non- Implicit
and hour of of all tion per tion per labor labor pay- price
quarter all persons Output persons hour (1) hour (2) costs ments (3) deflator (4)
---------------------------------------------------------------------------------------------------------
Indexes 1992=100
2001 I r116.3 r141.5 r121.7 r137.4 r111.9 r118.1 r108.7 r114.6
II r117.3 r141.2 r120.4 r138.3 r111.7 r117.9 r111.2 r115.5
III r117.8 r140.3 r119.1 r139.3 r112.3 r118.3 r111.0 r115.6
IV r119.7 r140.8 r117.6 r140.6 r113.5 r117.5 r113.4 r116.0
ANNUAL r117.8 r141.0 r119.7 r138.9 r112.3 r118.0 r111.1 r115.4
2002 I r122.5 r143.1 r116.8 r141.0 r113.4 r115.1 r116.9 r115.8
II r122.8 r143.4 r116.8 r141.9 r113.1 r115.6 r117.6 r116.3
III r124.1 r144.8 r116.7 r142.3 r112.9 r114.6 r119.9 r116.6
IV r124.6 r145.4 r116.7 142.8 112.7 r114.6 r121.4 r117.1
ANNUAL r123.5 r144.2 r116.7 r142.0 r113.0 r115.0 r119.0 r116.4
2003 I r125.6 r146.3 r116.5 r144.1 r112.7 r114.8 r122.3 r117.5
II r127.5 r147.6 r115.8 r145.8 r113.8 r114.4 r123.5 r117.7
III r130.4 r151.3 r116.1 r147.0 r114.1 r112.7 r127.2 r118.1
IV 131.3 152.9 116.5 147.5 114.2 112.4 128.1 118.2
ANNUAL 128.7 149.5 116.2 146.1 113.7 113.5 125.3 117.9
---------------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2001 I r-0.2 r-0.8 r-0.6 r5.4 r1.6 r5.7 r-3.0 r2.5
II r3.4 r-1.0 -4.3 r2.7 r-0.5 r-0.6 r9.8 r2.9
III r1.6 r-2.5 r-4.0 r3.0 r2.1 r1.3 r-0.8 r0.6
IV r6.8 r1.6 r-4.9 r3.8 r4.4 r-2.8 r9.0 r1.3
ANNUAL r2.1 r0.1 -2.0 r3.9 r1.1 1.7 r2.1 1.9
2002 I r9.7 r6.7 r-2.8 r1.1 r-0.2 r-7.8 r13.0 r-0.7
II r0.8 r0.8 0.0 r2.4 r-1.1 r1.6 r2.3 r1.9
III r4.5 r4.0 r-0.5 r1.3 r-0.9 r-3.1 r8.2 r1.0
IV r1.5 r1.6 r0.1 r1.4 r-0.6 r-0.2 r4.9 r1.7
ANNUAL r4.9 r2.3 -2.5 r2.2 r0.6 r-2.5 r7.1 r0.9
2003 I r3.1 r2.4 -0.7 r3.7 r-0.2 r0.5 r3.0 r1.5
II r6.1 r3.8 -2.2 r4.8 r4.2 r-1.3 r4.0 r0.7
III r9.5 r10.4 0.8 r3.4 r1.0 r-5.6 r12.5 r1.1
IV 2.7 4.2 1.5 1.3 0.5 -1.3 2.8 0.3
ANNUAL 4.2 3.7 -0.5 2.9 0.6 -1.2 5.3 1.2
---------------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2001 I r2.5 r2.0 -0.6 r4.3 r0.9 r1.7 r1.9 r1.8
II r1.5 r-0.1 -1.6 r4.7 r1.3 r3.1 r0.1 2.1
III r2.0 r-0.5 -2.5 r3.3 r0.5 r1.2 r3.0 r1.8
IV r2.8 r-0.7 -3.5 r3.7 r1.9 r0.8 r3.6 r1.8
ANNUAL r2.1 r0.1 -2.0 r3.9 r1.1 1.7 r2.1 1.9
2002 I r5.3 r1.1 -4.0 r2.6 r1.4 r-2.6 r7.6 r1.0
II r4.7 r1.6 r-2.9 r2.6 r1.3 r-2.0 r5.7 r0.7
III r5.4 r3.2 -2.1 r2.1 r0.5 r-3.1 r8.0 r0.8
IV r4.1 r3.2 r-0.8 r1.5 r-0.7 r-2.4 r7.0 r1.0
ANNUAL r4.9 r2.3 -2.5 r2.2 r0.6 r-2.5 r7.1 r0.9
2003 I r2.5 r2.2 -0.3 r2.2 r-0.7 r-0.3 r4.6 r1.5
II r3.8 r2.9 -0.9 r2.8 r0.6 r-1.0 r5.0 r1.2
III 5.0 r4.5 -0.5 r3.3 r1.1 r-1.7 r6.0 1.3
IV 5.3 5.2 -0.2 3.3 1.3 -2.0 5.5 0.9
ANNUAL 4.2 3.7 -0.5 2.9 0.6 -1.2 5.3 1.2
---------------------------------------------------------------------------------------------------------
See footnotes following Table 6. February 5, 2004
r=revised Source: Bureau of Labor Statistics
Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted (6)
Real
Year Output per Hours Compensa- compensa- Unit
and hour of of all tion per tion per labor
quarter all persons Output persons hour (1) hour (2) costs
--------------------------------------------------------------------------------------------------
Indexes 1992=100
2001 I 134.8 135.2 100.2 138.5 112.8 102.7
II 136.2 133.3 97.9 137.6 111.1 101.0
III 137.5 131.1 95.4 137.6 110.9 100.1
IV 140.5 129.7 92.4 139.6 112.6 99.4
ANNUAL 137.2 132.3 96.5 138.3 111.9 100.8
2002 I 143.8 130.5 90.8 140.9 113.3 98.0
II 146.0 131.8 90.2 143.0 114.1 97.9
III 148.1 132.4 89.4 144.2 114.4 97.4
IV 148.4 131.3 88.5 145.4 114.8 98.0
ANNUAL 146.5 131.5 89.7 143.3 114.1 97.8
2003 I 149.9 131.3 87.6 147.5 115.3 98.4
II 150.8 130.1 86.3 149.3 116.6 99.0
III 154.4 131.5 85.2 151.1 117.3 97.9
IV 156.2 133.6 85.6 151.6 117.5 97.1
ANNUAL 152.8 131.7 86.2 149.9 116.6 98.1
--------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2001 I -1.4 -7.5 -6.2 4.1 0.4 5.6
II 4.0 -5.4 -9.0 -2.6 -5.7 -6.4
III 3.9 -6.3 -9.8 0.2 -0.7 -3.6
IV 9.0 -4.3 -12.2 5.8 6.4 -2.9
ANNUAL 2.2 -4.6 -6.6 2.4 -0.4 0.2
2002 I 9.8 2.5 -6.7 3.7 2.4 -5.5
II 6.5 4.0 -2.3 6.2 2.6 -0.2
III 5.6 1.7 -3.7 3.3 1.1 -2.2
IV 0.9 -3.1 -4.0 3.4 1.4 2.4
ANNUAL 6.8 -0.6 -7.0 3.6 2.0 -3.0
2003 I 4.0 0.1 -3.8 5.8 1.9 1.7
II 2.5 -3.6 -5.9 5.1 4.5 2.6
III 9.7 4.3 -5.0 4.8 2.4 -4.5
IV 4.8 6.6 1.7 1.5 0.7 -3.1
ANNUAL 4.3 0.1 -4.0 4.5 2.2 0.3
--------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2001 I 1.9 -2.0 -3.8 3.9 0.4 1.9
II 1.6 -4.6 -6.1 3.7 0.3 2.0
III 2.2 -5.7 -7.7 0.8 -1.8 -1.3
IV 3.8 -5.9 -9.3 1.8 0.0 -1.9
ANNUAL 2.2 -4.6 -6.6 2.4 -0.4 0.2
2002 I 6.6 -3.4 -9.4 1.7 0.5 -4.6
II 7.3 -1.1 -7.8 3.9 2.6 -3.1
III 7.7 0.9 -6.3 4.8 3.1 -2.7
IV 5.7 1.2 -4.2 4.1 1.9 -1.4
ANNUAL 6.8 -0.6 -7.0 3.6 2.0 -3.0
2003 I 4.3 0.6 -3.5 4.7 1.7 0.4
II 3.3 -1.3 -4.4 4.4 2.2 1.1
III 4.3 -0.6 -4.7 4.8 2.5 0.5
IV 5.2 1.8 -3.3 4.3 2.4 -0.9
ANNUAL 4.3 0.1 -4.0 4.5 2.2 0.3
--------------------------------------------------------------------------------------------------
See footnotes following Table 6. February 5, 2004
r=revised Source: Bureau of Labor Statistics
Table 4. Durable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted (6)
Real
Year Output per Hours Compensa- compensa- Unit
and hour of of all tion per tion per labor
quarter all persons Output persons hour (1) hour (2) costs
--------------------------------------------------------------------------------------------------
Indexes 1992=100
2001 I 150.7 160.5 106.5 137.7 112.1 91.4
II 151.8 157.5 103.7 136.9 110.6 90.2
III 153.1 154.0 100.6 136.8 110.3 89.4
IV 156.6 151.6 96.8 139.3 112.4 88.9
ANNUAL 153.0 155.9 101.9 137.7 111.4 90.0
2002 I 161.0 152.6 94.8 139.7 112.4 86.8
II 164.1 154.7 94.3 142.1 113.3 86.6
III 166.9 155.9 93.5 143.0 113.5 85.7
IV 169.5 156.1 92.1 144.3 113.9 85.1
ANNUAL 165.3 154.8 93.7 142.3 113.3 86.1
2003 I 171.8 156.6 91.2 146.1 114.2 85.0
II 173.2 155.1 89.6 148.1 115.6 85.5
III 178.9 158.3 88.5 149.7 116.2 83.7
IV 181.7 162.2 89.2 149.9 116.2 82.5
ANNUAL 176.4 158.0 89.6 148.4 115.5 84.2
--------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2001 I -2.0 -9.7 -7.8 3.1 -0.6 5.2
II 2.9 -7.3 -10.0 -2.3 -5.4 -5.1
III 3.5 -8.5 -11.6 -0.3 -1.2 -3.7
IV 9.5 -6.2 -14.3 7.3 7.9 -2.0
ANNUAL 1.5 -5.9 -7.3 1.7 -1.1 0.2
2002 I 11.6 2.8 -7.9 1.4 0.1 -9.2
II 7.9 5.5 -2.2 6.9 3.2 -0.9
III 7.1 3.3 -3.5 2.7 0.5 -4.1
IV 6.4 0.4 -5.6 3.7 1.6 -2.6
ANNUAL 8.1 -0.7 -8.1 3.3 1.7 -4.4
2003 I 5.6 1.4 -4.1 4.9 1.0 -0.7
II 3.2 -3.9 -6.8 5.7 5.1 2.4
III 13.9 8.4 -4.8 4.5 2.1 -8.3
IV 6.4 10.2 3.6 0.6 -0.3 -5.5
ANNUAL 6.7 2.1 -4.3 4.3 2.0 -2.2
--------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2001 I 1.2 -2.4 -3.6 2.5 -0.8 1.3
II 0.8 -5.7 -6.5 3.1 -0.3 2.3
III 1.2 -7.6 -8.7 -0.2 -2.8 -1.4
IV 3.4 -7.9 -11.0 1.9 0.1 -1.5
ANNUAL 1.5 -5.9 -7.3 1.7 -1.1 0.2
2002 I 6.8 -4.9 -11.0 1.4 0.2 -5.0
II 8.1 -1.8 -9.1 3.8 2.5 -4.0
III 9.0 1.2 -7.1 4.5 2.9 -4.1
IV 8.2 3.0 -4.8 3.6 1.4 -4.2
ANNUAL 8.1 -0.7 -8.1 3.3 1.7 -4.4
2003 I 6.8 2.6 -3.9 4.5 1.6 -2.1
II 5.6 0.3 -5.0 4.2 2.0 -1.3
III 7.2 1.5 -5.3 4.7 2.4 -2.4
IV 7.2 3.9 -3.1 3.9 2.0 -3.1
ANNUAL 6.7 2.1 -4.3 4.3 2.0 -2.2
--------------------------------------------------------------------------------------------------
See footnotes following Table 6. February 5, 2004
r=revised Source: Bureau of Labor Statistics
Table 5. Nondurable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted (6)
Real
Year Output per Hours Compensa- compensa- Unit
and hour of of all tion per tion per labor
quarter all persons Output persons hour (1) hour (2) costs
--------------------------------------------------------------------------------------------------
Indexes 1992=100
2001 I 119.8 109.0 91.0 137.6 112.0 114.8
II 121.2 108.2 89.3 136.6 110.3 112.7
III 122.2 107.2 87.7 137.1 110.5 112.2
IV 124.3 106.7 85.8 138.4 111.7 111.3
ANNUAL 121.9 107.8 88.4 137.4 111.1 112.8
2002 I 126.4 107.2 84.8 141.4 113.7 111.8
II 127.9 107.8 84.3 143.1 114.1 111.8
III 129.1 107.7 83.4 144.6 114.7 112.0
IV 127.1 105.7 83.1 145.8 115.1 114.7
ANNUAL 127.6 107.1 83.9 143.7 114.4 112.6
2003 I 127.8 105.3 82.4 148.5 116.1 116.2
II 128.2 104.4 81.5 150.1 117.2 117.1
III 129.8 104.3 80.4 152.0 118.0 117.1
IV 131.0 105.0 80.1 153.1 118.6 116.9
ANNUAL 129.2 104.8 81.1 150.9 117.5 116.8
--------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2001 I -1.6 -4.9 -3.3 6.8 3.0 8.6
II 4.7 -3.0 -7.3 -3.0 -6.1 -7.3
III 3.2 -3.7 -6.7 1.7 0.8 -1.5
IV 7.1 -2.0 -8.5 3.7 4.2 -3.3
ANNUAL 2.6 -3.0 -5.4 4.1 1.3 1.5
2002 I 6.9 2.0 -4.6 8.9 7.5 1.8
II 4.8 2.2 -2.5 4.9 1.3 0.1
III 4.0 -0.2 -4.0 4.5 2.3 0.5
IV -6.1 -7.3 -1.3 3.3 1.3 10.0
ANNUAL 4.7 -0.6 -5.1 4.6 2.9 -0.2
2003 I 2.0 -1.5 -3.5 7.6 3.7 5.5
II 1.3 -3.2 -4.5 4.3 3.7 3.0
III 5.2 -0.4 -5.3 5.3 2.9 0.1
IV 3.8 2.6 -1.1 2.9 2.0 -0.9
ANNUAL 1.2 -2.2 -3.3 5.0 2.7 3.8
--------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2001 I 2.6 -1.8 -4.3 6.5 3.0 3.8
II 2.3 -3.3 -5.5 5.1 1.7 2.7
III 2.7 -3.5 -6.0 3.2 0.5 0.4
IV 3.3 -3.4 -6.5 2.2 0.4 -1.0
ANNUAL 2.6 -3.0 -5.4 4.1 1.3 1.5
2002 I 5.5 -1.7 -6.8 2.7 1.5 -2.6
II 5.5 -0.4 -5.6 4.7 3.4 -0.7
III 5.7 0.5 -4.9 5.5 3.8 -0.2
IV 2.3 -0.9 -3.1 5.4 3.1 3.0
ANNUAL 4.7 -0.6 -5.1 4.6 2.9 -0.2
2003 I 1.1 -1.8 -2.8 5.1 2.1 4.0
II 0.2 -3.1 -3.3 4.9 2.7 4.7
III 0.5 -3.1 -3.6 5.1 2.9 4.6
IV 3.1 -0.7 -3.6 5.0 3.1 1.9
ANNUAL 1.2 -2.2 -3.3 5.0 2.7 3.8
--------------------------------------------------------------------------------------------------
See footnotes following Table 6. February 5, 2004
r=revised Source: Bureau of Labor Statistics
Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor costs, unit profits,
and prices, seasonally adjusted
Output Hourly Real Unit Total Unit Implicit
Year per all- compen- hourly Unit non- unit pro- price
and employee Employee sation compen- labor labor costs fits deflator
quarter hour Output hours (1) sation(2) costs costs(7) (8) (9) (4)
----------------------------------------------------------------------------------------------------------
Indexes 1992=100
2001 I r121.3 r150.7 r124.2 r135.0 r109.9 r111.3 r108.2 r110.5 r90.9 r108.7
II r121.9 r149.7 r122.8 r136.3 r110.1 r111.8 r109.8 111.3 r91.2 r109.5
III r122.7 r148.8 r121.2 r137.7 r111.0 r112.2 r111.3 r112.0 r87.2 r109.8
IV r124.9 r149.3 r119.5 r138.9 r112.1 r111.2 r111.4 r111.3 r96.4 r109.9
ANNUAL r122.7 r149.6 r121.9 r136.9 r110.8 r111.6 r110.2 r111.2 r91.4 r109.5
2002 I r126.3 r150.2 r118.9 r138.0 r111.0 r109.3 r111.9 r110.0 r105.3 r109.5
II r128.2 r152.2 r118.7 r139.5 r111.3 r108.8 r111.5 r109.6 r112.3 r109.8
III r129.7 153.4 r118.3 r140.5 r111.5 r108.3 r111.5 r109.2 r111.8 r109.4
IV r131.0 154.5 r117.9 r141.6 r111.8 r108.1 r111.3 r109.0 r116.2 r109.6
ANNUAL r128.8 r152.6 r118.5 r139.9 r111.4 r108.6 r111.5 109.4 r111.4 r109.6
2003 I r131.7 r154.7 r117.5 r142.8 r111.6 r108.4 r110.7 r109.0 r114.0 r109.5
II r134.7 r157.3 r116.8 r144.7 r113.0 r107.4 r108.0 r107.6 r130.7 r109.6
III r137.5 r160.5 r116.7 r146.0 r113.4 r106.2 r107.6 r106.6 r143.7 r109.9
----------------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2001 I r0.0 r-2.1 r-2.2 r2.6 r-1.1 r2.5 r4.1 r3.0 r-24.6 r0.5
II r2.1 r-2.7 r-4.7 r4.0 r0.7 r1.8 r6.0 r2.9 r1.0 r2.8
III r2.8 r-2.3 r-4.9 r4.3 r3.4 r1.4 r5.7 r2.6 r-16.1 r1.1
IV r7.3 r1.4 r-5.5 r3.5 r4.1 r-3.6 r0.4 r-2.5 r48.8 r0.6
ANNUAL r1.8 r-0.7 r-2.4 r4.0 r1.2 r2.2 r5.1 r3.0 r-16.4 1.2
2002 I r4.4 r2.3 r-2.0 r-2.6 r-3.8 r-6.7 r1.5 r-4.6 r42.4 r-1.4
II r6.2 r5.6 r-0.6 r4.6 r1.0 r-1.5 r-1.4 r-1.5 r29.5 r0.9
III r4.8 r3.2 r-1.6 r2.9 r0.7 r-1.8 r0.0 r-1.3 r-1.7 r-1.4
IV r4.0 2.8 r-1.1 r3.0 r1.0 r-0.9 r-0.4 r-0.8 r16.7 r0.7
ANNUAL r5.0 r2.0 r-2.8 r2.2 r0.6 r-2.7 r1.2 r-1.6 r21.9 r0.1
2003 I r2.1 r0.5 r-1.6 r3.4 r-0.4 r1.3 r-2.4 r0.3 r-7.4 r-0.5
II r9.6 r7.1 r-2.3 r5.6 r4.9 r-3.7 r-9.3 r-5.2 r72.6 r0.6
III r8.6 r8.5 r-0.1 r3.6 r1.2 r-4.6 r-1.3 r-3.7 r46.2 r0.9
----------------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2001 I r1.6 r0.9 r-0.7 r4.4 r0.9 r2.7 r5.6 r3.5 r-21.1 r1.1
II 1.5 r-0.4 r-1.9 r4.8 r1.4 r3.2 r5.4 r3.8 r-21.8 1.3
III r1.3 r-1.8 r-3.1 r3.7 r1.0 r2.4 r5.6 r3.2 r-19.2 r1.2
IV r3.0 r-1.4 r-4.3 r3.6 r1.7 r0.5 r4.0 r1.5 r-1.2 r1.2
ANNUAL r1.8 r-0.7 r-2.4 r4.0 r1.2 r2.2 r5.1 r3.0 r-16.4 1.2
2002 I r4.1 r-0.3 r-4.3 r2.2 r1.0 r-1.8 r3.4 r-0.5 r15.8 r0.8
II r5.2 r1.7 r-3.3 r2.4 r1.1 -2.6 r1.5 r-1.5 r23.2 r0.3
III r5.7 r3.1 r-2.4 r2.1 r0.5 r-3.4 r0.1 r-2.5 r28.2 r-0.3
IV r4.8 r3.5 r-1.3 r1.9 r-0.3 r-2.8 r-0.1 r-2.1 r20.6 r-0.3
ANNUAL r5.0 r2.0 r-2.8 r2.2 r0.6 r-2.7 r1.2 r-1.6 r21.9 r0.1
2003 I r4.3 r3.0 r-1.2 r3.5 r0.6 r-0.7 r-1.1 r-0.8 r8.3 r-0.1
II r5.1 r3.4 r-1.7 r3.7 r1.5 r-1.3 r-3.1 r-1.8 r16.4 r-0.1
III r6.0 r4.6 r-1.3 r3.9 r1.7 r-2.0 r-3.4 r-2.4 r28.5 0.4
----------------------------------------------------------------------------------------------------------
See footnotes following Table 6. February 5, 2004
r=revised Source: Bureau of Labor Statistics
Appendix table 1. Business sector: Productivity, hourly compensation, unit labor costs, and prices
Indexes 1992=100
Real
Output per Hours Compensa- compensa- Unit Unit non- Implicit
hour of of all tion per tion per labor labor pay- price
Year all persons Output persons hour (1) hour (2) costs ments (3) deflator (4)
-------------------------------------------------------------------------------------------------------
1947 r32.2 r20.4 r63.5 7.0 40.6 r21.7 r18.7 r20.6
1948 r33.7 r21.5 r63.9 7.6 40.7 r22.5 r20.7 r21.8
1949 r34.4 r21.3 r61.9 7.7 r41.8 r22.3 r20.5 r21.6
1950 r37.2 r23.4 r62.8 8.2 44.2 r22.1 r21.6 r21.9
1951 r38.4 r24.9 r64.8 9.0 44.9 r23.4 r23.8 r23.6
1952 r39.5 r25.7 r65.0 9.6 r46.7 r24.2 r23.2 r23.8
1953 r40.9 r26.9 r65.8 10.2 r49.3 r24.9 r22.6 r24.0
1954 r41.8 r26.6 r63.6 10.5 r50.5 r25.1 r22.6 r24.2
1955 r43.5 r28.7 r66.0 10.8 r52.0 r24.8 r24.0 r24.5
1956 r43.5 r29.1 r67.0 11.5 r54.6 r26.4 r23.5 r25.3
1957 r44.9 r29.6 r66.1 12.2 r56.3 r27.2 r24.2 r26.1
1958 r46.1 r29.1 r63.1 12.8 r57.2 r27.7 r24.8 r26.6
1959 r47.8 r31.4 r65.7 13.3 r59.1 r27.8 r25.2 r26.8
1960 r48.7 r32.0 r65.9 r13.8 r60.5 r28.4 r24.9 r27.1
1961 r50.4 r32.7 r64.9 14.4 r62.2 r28.5 r25.3 r27.3
1962 r52.7 r34.8 r66.1 r15.0 r64.3 r28.5 r26.1 r27.6
1963 r54.7 r36.4 r66.5 r15.5 r65.8 r28.4 r26.6 r27.7
1964 r56.6 r38.7 r68.4 r16.1 r67.4 r28.5 r27.3 r28.1
1965 r58.5 r41.4 r70.8 r16.7 r68.8 r28.6 r28.4 r28.5
1966 r60.9 r44.2 r72.6 r17.8 r71.3 r29.3 r29.0 r29.2
1967 r62.2 r45.1 r72.4 r18.9 r73.1 r30.3 r29.5 r30.0
1968 r64.4 r47.3 r73.5 20.4 r75.9 r31.7 r30.4 r31.2
1969 r64.7 r48.8 r75.4 r21.8 r77.0 r33.7 r30.8 r32.6
1970 r66.0 r48.7 r73.9 r23.5 r78.4 r35.6 r31.5 r34.1
1971 r68.8 r50.6 r73.6 25.0 r79.9 r36.3 r34.2 r35.5
1972 r71.0 r53.9 r75.9 26.6 82.3 r37.4 r35.7 r36.8
1973 r73.2 r57.6 r78.7 28.8 r84.0 r39.4 r37.6 r38.7
1974 r72.1 r56.8 r78.9 31.6 r83.0 r43.8 r40.0 r42.4
1975 r74.6 r56.3 r75.5 34.8 r83.8 r46.7 r46.3 r46.6
1976 r76.9 r60.0 r78.0 r37.8 r86.1 r49.2 r48.8 r49.0
1977 r78.2 r63.3 r81.0 r40.8 r87.3 r52.2 r51.6 r52.0
1978 r79.1 r67.3 r85.1 r44.4 r88.8 r56.1 r54.8 r55.6
1979 r79.1 r69.6 r88.0 r48.7 r89.0 r61.6 r58.3 r60.4
1980 r79.0 r68.8 r87.2 r54.0 88.9 r68.4 r61.3 r65.8
1981 r80.6 r70.7 r87.8 r59.1 89.0 r73.4 r69.2 r71.8
1982 r80.2 r68.6 r85.5 r63.6 r90.4 r79.3 r70.2 r75.9
1983 r83.1 r72.3 r87.0 r66.2 r90.3 r79.7 r76.5 r78.5
1984 r85.3 r78.6 r92.1 r69.1 r90.6 r81.0 r80.4 r80.8
1985 r87.3 r82.2 r94.1 r72.5 r92.0 r83.0 r82.2 r82.7
1986 r89.9 r85.3 r94.8 r76.3 r95.0 r84.8 r82.8 r84.1
1987 r90.3 r88.3 r97.7 r79.0 r95.2 r87.5 r83.3 r85.9
1988 r91.7 r92.1 r100.4 r83.1 r96.6 r90.6 r85.3 r88.6
1989 r92.7 r95.4 r103.0 r85.4 r95.2 r92.1 r91.5 r91.9
1990 r94.4 r96.9 r102.6 r90.5 r96.1 r95.9 r93.9 r95.1
1991 r96.0 r96.1 100.1 r95.1 r97.5 r99.0 r96.8 r98.2
1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
1993 r100.3 103.1 r102.8 r102.2 r99.7 101.9 102.5 r102.1
1994 r101.4 r108.2 r106.7 r103.8 r99.2 r102.3 r106.6 r103.9
1995 r101.7 r111.4 r109.5 r106.0 r98.9 r104.3 r108.2 r105.7
1996 r104.5 r116.5 r111.5 r109.5 r99.5 r104.8 r111.9 r107.4
1997 r106.5 r122.7 r115.2 r113.0 r100.5 r106.1 r113.9 r109.0
1998 r109.3 r128.6 r117.7 r119.7 r105.0 r109.5 r109.9 r109.7
1999 r112.5 r135.2 r120.2 r125.5 r107.8 r111.6 r109.2 r110.7
2000 r115.7 r140.5 r121.4 r134.2 r111.6 r116.0 r107.2 r112.7
2001 r118.3 r140.6 r118.9 r139.7 r113.0 r118.1 r109.5 r114.9
2002 r123.9 r143.8 r116.1 r142.7 r113.6 r115.1 r117.0 r115.8
2003 129.2 149.1 115.4 147.0 114.4 113.8 123.4 117.4
-------------------------------------------------------------------------------------------------------
See footnotes following Table 6. February 5, 2004
Source: Bureau of Labor Statistics
Appendix table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor costs, and prices
Indexes 1992=100
Real
Output per Hours Compensa- compensa- Unit Unit non- Implicit
hour of of all tion per tion per labor labor pay- price
Year all persons Output persons hour (1) hour (2) costs ments (3) deflator (4)
-------------------------------------------------------------------------------------------------------
1947 r36.8 r20.1 r54.5 7.4 43.1 r20.2 r17.8 r19.3
1948 r37.8 r20.9 r55.4 8.1 r43.3 r21.3 r19.4 r20.6
1949 r39.1 r20.8 r53.2 8.3 r45.2 r21.2 r19.9 r20.8
1950 r41.7 r22.9 r55.0 8.8 r47.2 r21.1 r20.8 r21.0
1951 r42.8 r24.6 r57.6 9.6 r47.6 r22.3 r22.4 r22.4
1952 r43.5 r25.3 r58.2 10.1 49.3 r23.1 r22.3 r22.8
1953 r44.5 r26.6 r59.7 r10.6 r51.6 r23.9 r22.2 r23.3
1954 r45.4 r26.1 r57.6 11.0 r52.9 r24.2 r22.3 r23.5
1955 r47.2 r28.3 r60.0 11.4 r55.0 r24.1 r23.6 r23.9
1956 r46.9 r28.8 r61.4 12.1 r57.5 r25.8 r23.1 r24.8
1957 r48.1 r29.4 r61.1 12.8 r58.9 r26.6 r23.8 r25.6
1958 r49.1 r28.7 r58.5 13.3 r59.6 r27.1 r24.1 r26.0
1959 r51.0 r31.2 r61.2 13.8 r61.4 r27.1 r24.9 r26.3
1960 r51.6 r31.8 r61.6 r14.4 r63.0 r27.9 r24.3 r26.6
1961 r53.2 r32.4 r60.9 r14.9 r64.5 r28.0 r24.8 r26.8
1962 r55.6 r34.6 r62.3 r15.5 r66.4 r27.8 r25.7 r27.1
1963 r57.5 r36.2 r63.0 r16.0 r67.7 r27.8 r26.3 r27.3
1964 r59.2 r38.7 r65.3 r16.5 r69.0 r27.9 r27.1 r27.6
1965 r61.1 r41.4 r67.8 r17.1 r70.1 r27.9 r28.0 r28.0
1966 r63.2 r44.4 r70.1 r18.1 r72.2 r28.6 r28.7 r28.6
1967 r64.3 r45.1 r70.1 r19.1 r74.2 r29.7 r29.2 r29.5
1968 r66.5 r47.5 r71.4 r20.6 r76.8 r31.0 r30.2 r30.7
1969 r66.6 r48.9 r73.4 r22.0 r77.7 r33.1 r30.4 r32.1
1970 r67.7 r48.9 r72.2 r23.6 r78.8 r34.9 r31.1 r33.5
1971 r70.4 r50.7 r72.0 r25.1 r80.4 r35.7 r33.8 r35.0
1972 r72.8 r54.1 r74.3 26.8 82.9 r36.8 r34.9 r36.1
1973 r75.0 r58.0 r77.4 r28.9 r84.4 r38.6 r35.3 r37.4
1974 r73.9 r57.3 r77.4 31.8 83.5 r43.0 38.1 r41.2
1975 r76.0 r56.3 r74.1 35.0 r84.2 r46.1 r44.8 r45.6
1976 r78.5 r60.2 r76.7 r37.9 r86.4 r48.4 r47.8 r48.1
1977 r79.7 r63.6 r79.8 r41.0 r87.7 r51.5 50.7 r51.2
1978 r80.8 r67.8 r83.9 44.7 r89.3 r55.3 r53.4 r54.6
1979 r80.5 r70.0 r86.9 r48.9 r89.4 r60.8 r56.5 r59.2
1980 r80.3 r69.2 r86.2 r54.2 r89.2 r67.5 r60.4 r64.9
1981 r81.4 r70.7 r86.8 59.5 r89.5 r73.1 67.8 r71.1
1982 r80.9 r68.4 r84.6 64.0 r90.9 r79.1 r69.4 r75.5
1983 r84.6 r72.9 r86.2 r66.6 r90.9 r78.8 r76.2 r77.9
1984 r86.2 r78.9 r91.4 r69.4 r91.1 r80.5 r79.4 r80.1
1985 r87.7 r82.2 r93.7 r72.7 r92.3 r82.9 r81.7 r82.5
1986 r90.3 r85.4 r94.5 r76.5 r95.3 r84.6 r82.5 r83.9
1987 r90.6 r88.4 r97.5 r79.2 r95.4 r87.3 r82.9 r85.7
1988 r92.1 r92.4 r100.4 r83.1 r96.6 r90.2 r85.1 r88.3
1989 r92.8 r95.7 r103.1 r85.3 r95.1 r91.9 r90.9 r91.5
1990 r94.4 r97.1 r102.8 r90.3 r95.9 r95.6 r93.6 r94.9
1991 r96.2 r96.3 100.1 r95.1 r97.5 r98.8 r97.0 r98.1
1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
1993 r100.3 r103.4 r103.0 r101.9 r99.5 r101.6 r102.9 r102.1
1994 r101.5 r108.3 r106.7 r103.7 r99.1 r102.2 r107.1 r104.0
1995 r102.1 111.8 r109.5 r106.0 r98.9 r103.8 r109.2 r105.8
1996 r104.7 r116.8 r111.6 r109.4 r99.4 r104.5 r112.1 r107.3
1997 r106.4 r122.8 r115.4 r112.8 r100.3 r106.0 r114.6 r109.1
1998 r109.2 r128.9 r118.1 r119.4 r104.7 r109.3 r110.9 r109.9
1999 r112.2 r135.6 r120.8 r125.0 r107.3 r111.3 r110.8 r111.1
2000 r115.3 r140.8 r122.1 r133.7 r111.2 r116.0 r108.8 r113.3
2001 r117.8 r141.0 r119.7 r138.9 r112.3 r118.0 r111.1 r115.4
2002 r123.5 r144.2 r116.7 r142.0 r113.0 r115.0 r119.0 r116.4
2003 128.7 149.5 116.2 146.1 113.7 113.5 125.3 117.9
-------------------------------------------------------------------------------------------------------
See footnotes following Table 6. February 5, 2004
Source: Bureau of Labor Statistics
Appendix table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor costs,
Indexes 1992=100 (6)
Real
Output per Hours Compensa- compensa- Unit
hour of of all tion per tion per labor
Year all persons Output persons hour (1) hour (2) costs
-----------------------------------------------------------------------------------------------
1987 88.0 91.7 104.2 80.4 96.8 91.3
1988 89.8 96.3 107.3 83.3 96.9 92.8
1989 90.3 97.2 107.7 86.0 95.9 95.3
1990 92.9 97.6 105.0 90.1 95.7 97.0
1991 95.6 96.0 100.4 95.6 98.0 100.0
1992 100.0 100.0 100.0 100.0 100.0 100.0
1993 102.7 104.1 101.4 102.3 99.8 99.6
1994 106.0 110.0 103.8 105.6 100.9 99.6
1995 110.1 115.0 104.4 107.7 100.5 97.8
1996 113.9 118.6 104.1 109.9 99.8 96.5
1997 117.9 125.1 106.1 112.0 99.7 95.0
1998 123.5 130.7 105.9 118.8 104.2 96.2
1999 128.2 134.6 104.9 123.8 106.4 96.6
2000 134.2 138.6 103.3 135.1 112.3 100.6
2001 137.2 132.3 96.5 138.3 111.9 100.8
2002 146.5 131.5 89.7 143.3 114.1 97.8
2003 152.8 131.7 86.2 149.9 116.6 98.1
-----------------------------------------------------------------------------------------------
NOTE: Data not comparable to releases of Dec. 3, 2003 and earlier.
See footnotes following Table 6. February 5, 2004
Source: Bureau of Labor Statistics
Appendix table 4. Durable manufacturing sector: Productivity, hourly compensation,
and unit labor costs, Indexes 1992=100 (6)
Real
Output per Hours Compensa- compensa- Unit
hour of of all tion per tion per labor
Year all persons Output persons hour (1) hour (2) costs
-----------------------------------------------------------------------------------------------
1987 88.6 95.1 107.3 80.0 96.5 90.4
1988 90.6 100.9 111.4 82.4 95.8 90.9
1989 90.7 101.1 111.5 85.1 94.9 93.8
1990 93.1 100.1 107.4 89.2 94.8 95.8
1991 94.7 95.9 101.2 95.1 97.5 100.4
1992 100.0 100.0 100.0 100.0 100.0 100.0
1993 104.4 106.0 101.6 101.9 99.4 97.6
1994 109.5 114.8 104.9 105.3 100.6 96.2
1995 115.3 122.8 106.5 106.6 99.5 92.5
1996 120.5 129.5 107.5 107.8 97.9 89.5
1997 126.0 139.5 110.7 110.4 98.2 87.6
1998 134.8 150.2 111.4 117.8 103.3 87.3
1999 143.2 158.5 110.7 123.5 106.1 86.2
2000 150.7 165.7 109.9 135.4 112.6 89.8
2001 153.0 155.9 101.9 137.7 111.4 90.0
2002 165.3 154.8 93.7 142.3 113.3 86.1
2003 176.4 158.0 89.6 148.4 115.5 84.2
-----------------------------------------------------------------------------------------------
NOTE: Data not comparable to releases of Dec. 3, 2003 and earlier.
See footnotes following Table 6. February 5, 2004
Source: Bureau of Labor Statistics
Appendix table 5. Nondurable manufacturing sector: Productivity, hourly compensation,
and unit labor costs, Indexes 1992=100 (6)
Real
Output per Hours Compensa- compensa- Unit
hour of of all tion per tion per labor
Year all persons Output persons hour (1) hour (2) costs
-----------------------------------------------------------------------------------------------
1987 90.5 90.2 99.6 80.3 96.8 88.7
1988 92.2 93.3 101.2 84.2 98.0 91.3
1989 92.7 94.7 102.2 87.1 97.1 94.0
1990 94.7 96.1 101.5 91.1 96.7 96.2
1991 97.5 96.6 99.1 96.3 98.7 98.8
1992 100.0 100.0 100.0 100.0 100.0 100.0
1993 100.6 101.9 101.2 102.9 100.4 102.3
1994 102.3 104.5 102.2 105.9 101.2 103.5
1995 105.0 106.3 101.2 109.1 101.8 103.9
1996 107.5 106.5 99.1 112.9 102.5 105.0
1997 110.9 110.0 99.2 113.9 101.3 102.7
1998 113.3 110.6 97.7 119.2 104.6 105.2
1999 114.4 110.3 96.5 122.6 105.4 107.2
2000 118.8 111.1 93.5 132.0 109.7 111.1
2001 121.9 107.8 88.4 137.4 111.1 112.8
2002 127.6 107.1 83.9 143.7 114.4 112.6
2003 129.2 104.8 81.1 150.9 117.5 116.8
-----------------------------------------------------------------------------------------------
NOTE: Data not comparable to releases of Dec. 3, 2003 and earlier.
See footnotes following Table 6. February 5, 2004
Source: Bureau of Labor Statistics
Appendix table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor costs,
unit profits, and prices
Indexes 1992=100
Output Hourly Real Unit Total Unit Implicit
per all- compen- hourly Unit non- unit pro- price
employee Employee sation compen labor labor costs fits deflator
Year hour Output hours (1) sation(2) costs costs(7) (8) (9) (4)
--------------------------------------------------------------------------------------------------------
1958 r53.2 r25.7 r48.4 r14.9 r66.7 r28.0 r23.2 r26.7 r46.5 r28.5
1959 r55.7 r28.6 r51.3 r15.5 r68.8 r27.7 r21.9 r26.2 r55.0 r28.7
1960 r56.6 r29.5 r52.1 r16.1 r70.3 r28.4 r23.0 r26.9 r49.5 r28.9
1961 r58.4 r30.1 r51.6 r16.6 r71.9 r28.4 r23.5 r27.1 r49.5 r29.1
1962 r60.9 r32.7 r53.7 r17.2 r73.9 r28.3 r23.1 r26.9 r53.7 r29.3
1963 r63.0 r34.6 r54.9 r17.8 r75.2 r28.2 r23.1 r26.8 r56.5 r29.5
1964 r64.0 r37.0 r57.9 r18.1 r75.6 r28.3 r22.9 r26.8 r58.8 r29.7
1965 r65.6 r40.1 r61.2 r18.6 r76.6 r28.4 r22.8 r26.9 r63.2 r30.2
1966 66.7 r42.9 r64.4 r19.7 r78.6 r29.5 r23.0 r27.8 r62.7 r30.9
1967 r67.6 r44.0 r65.1 r20.8 r80.5 r30.7 r24.3 r29.0 r59.1 r31.7
1968 70.0 r46.8 r66.9 r22.3 r83.2 r31.9 r25.9 r30.3 r59.1 r32.9
1969 r70.0 r48.6 r69.4 r23.9 r84.3 r34.1 r28.1 r32.5 r53.3 r34.4
1970 70.4 r48.1 r68.4 r25.6 r85.3 r36.3 r31.7 r35.1 r43.7 r35.9
1971 73.3 r50.1 r68.2 r27.2 r86.9 r37.0 r33.1 r36.0 r49.8 r37.2
1972 r74.8 53.8 r72.0 r28.6 r88.7 r38.3 r33.4 r37.0 r53.3 r38.4
1973 r75.5 r57.1 r75.6 r30.8 r89.9 r40.8 r35.2 r39.3 r54.1 r40.6
1974 r74.0 r56.1 r75.9 r33.8 r88.7 r45.7 40.5 r44.3 r47.7 r44.6
1975 r76.9 r55.4 r72.0 r37.1 r89.3 r48.2 45.9 r47.6 r62.2 r48.9
1976 r79.3 r59.8 r75.3 r40.1 r91.4 r50.6 r45.7 r49.3 r70.4 r51.2
1977 r81.4 r64.2 r78.8 r43.3 r92.6 r53.2 r47.7 r51.7 r76.2 r53.9
1978 r82.5 r68.3 r82.8 r47.4 r94.7 r57.5 r50.5 r55.6 r78.0 r57.6
1979 r81.6 r70.4 r86.2 r51.7 r94.5 r63.3 55.1 r61.1 r73.1 r62.2
1980 r81.0 69.2 r85.5 r57.0 r93.8 r70.4 r64.5 r68.8 r66.5 r68.6
1981 r82.3 r71.4 r86.8 r62.1 r93.5 r75.5 r73.6 r75.0 r81.2 r75.5
1982 r83.2 r69.9 r84.1 r66.5 r94.4 r79.9 r81.3 r80.3 r75.1 r79.8
1983 r86.1 r73.5 r85.4 r68.9 r94.0 r80.0 r81.2 r80.3 r90.7 r81.2
1984 r88.4 r80.3 90.9 r71.8 r94.2 r81.3 r80.7 r81.1 r106.7 r83.4
1985 r90.5 r84.0 r92.8 r75.2 r95.5 r83.1 r82.8 r83.0 r101.3 r84.7
1986 r92.5 r86.1 r93.1 r79.0 r98.4 r85.4 r85.3 r85.4 r89.2 r85.7
1987 r94.3 90.7 r96.1 r81.5 r98.2 r86.4 r84.9 86.0 r99.0 r87.2
1988 r96.5 r95.7 r99.1 r84.9 r98.7 r87.9 r86.1 r87.4 r110.6 r89.5
1989 r95.2 r97.2 r102.1 r87.1 r97.1 r91.4 r92.8 r91.8 r100.6 r92.6
1990 95.5 r98.1 r102.7 r91.0 r96.7 r95.3 r97.1 r95.8 r96.7 r95.9
1991 r97.9 r97.4 r99.5 r95.6 r98.0 r97.6 r102.3 r98.9 r92.8 r98.4
1992 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
1993 r100.5 103.0 r102.5 r101.7 r99.2 r101.2 r99.7 r100.8 r113.9 r101.9
1994 r102.5 r109.5 r106.8 r103.5 r98.9 101.0 r100.5 r100.8 r131.3 r103.6
1995 r103.4 r114.3 r110.5 r105.4 r98.3 r102.0 r101.3 r101.8 r136.9 r104.9
1996 r107.1 r120.7 r112.7 r108.4 r98.5 r101.2 r99.9 r100.9 r149.9 r105.3
1997 r109.8 r128.4 r117.0 r111.7 r99.3 r101.7 r99.8 r101.2 r154.4 r105.9
1998 r112.8 r135.3 r119.9 r117.9 r103.4 r104.5 r99.9 r103.2 r137.5 r106.3
1999 r116.4 r143.2 r123.0 r123.3 r106.0 r106.0 r101.0 r104.6 r129.8 r106.9
2000 r120.6 r150.7 r125.0 r131.7 r109.5 r109.2 r104.8 r108.0 r109.3 r108.1
2001 r122.7 r149.6 r121.9 r136.9 r110.8 r111.6 r110.2 r111.2 r91.4 r109.5
2002 r128.8 r152.6 r118.5 r139.9 r111.4 r108.6 r111.5 109.4 r111.4 r109.6
--------------------------------------------------------------------------------------------------------
See footnotes following Table 6. February 5, 2004
Source: Bureau of Labor Statistics
SOURCES: Output data are from the Bureau of Economic Analysis and the Census
Bureau of the U.S. Department of Commerce; the Bureau of Labor Statistics,
U.S. Department of Labor; and the Federal Reserve Board. Compensation and
hours data are from the Bureau of Labor Statistics and the Bureau of Economic
Analysis.
RELIABILITY: Productivity and cost measures are regularly revised as more
complete information becomes available. The measures are first published
within 40 days of the close of the reference period; revisions appear 30 days
later, and second revisions after an additional 60 days. In the business
sector, the third publication (second revision) of a quarterly index of
output per hour of all persons has differed from the initial value by between
-1.5 and +1.5 index points approximately 95 percent of the time. This
interval is based on the performance of this measure between the fourth
quarter of 1995 and the third quarter of 2003.
Footnotes, Tables 1-6
(1) Wages and salaries of employees plus employers' contributions for social
insurance and private benefit plans. Except for nonfinancial
corporations, where there are no self-employed, data also include an
estimate of wages, salaries, and supplemental payments for the self-
employed.
(2) The change for recent quarters is based on the Consumer Price Index for
all urban consumers (CPI-U). The trend from 1978-2002 is based on the
Consumer Price Index research series (CPI-U-RS).
(3) Unit nonlabor payments include profits, capital consumption allowances,
interest, rental income of persons, and indirect taxes.
(4) Current dollar output divided by the output index.
(5) Quarterly changes: Percent change compounded at annual rate from the
original data rather than index numbers. Annual changes: Percent
change between annual average levels.
(6) Data for the manufacturing sectors are not comparable to those published
in releases of Dec. 3, 2003 and earlier.
(7) Unit nonlabor costs include capital consumption allowances, interest,
rental income of persons, and indirect taxes. For nonfinancial
corporations, rental income of persons is zero by definition.
(8) Total unit costs are the sum of unit labor and nonlabor costs.
(9) Unit profits include corporate profits with inventory valuation and
capital consumption adjustments.