Productivity and Costs News Release



Transmission of material in this release is embargoed until        USDL 16-0880
8:30 a.m. (EDT) Wednesday, May 4, 2016

Technical information: (202) 691-5606    dprweb@bls.gov   www.bls.gov/lpc
Media contact:         (202) 691-5902    PressOffice@bls.gov




                           PRODUCTIVITY AND COSTS
                       First Quarter 2016, Preliminary
                       
                       
                       
Nonfarm business sector labor productivity decreased at a 1.0-percent annual 
rate during the first quarter of 2016, the U.S. Bureau of Labor Statistics 
reported today, as output increased 0.4 percent and hours worked increased 
1.5 percent. (All quarterly percent changes in this release are seasonally 
adjusted annual rates.) From the first quarter of 2015 to the first quarter 
of 2016, productivity increased 0.6 percent. (See table A.) 

Labor productivity, or output per hour, is calculated by dividing an index of 
real output by an index of hours worked of all persons, including employees, 
proprietors, and unpaid family workers. 

Unit labor costs in the nonfarm business sector increased 4.1 percent in the 
first quarter of 2016, reflecting a 3.0-percent increase in hourly 
compensation and a 1.0-percent decrease in productivity. Unit labor costs 
increased 2.3 percent over the last four quarters. (See tables A and 2.) 

BLS calculates unit labor costs as the ratio of hourly compensation to labor 
productivity. Increases in hourly compensation tend to increase unit labor 
costs, and increases in output per hour tend to reduce them.

Manufacturing sector labor productivity increased 1.9 percent in the first 
quarter of 2016, as output increased 0.7 percent and hours worked decreased 
1.1 percent. Productivity increased 0.1 percent in the durable goods 
manufacturing sector and increased 4.4 percent in the nondurable goods 
sector. Over the last four quarters, manufacturing productivity increased 1.5 
percent, as output increased 0.7 percent and hours declined 0.8 percent. (See 
tables A, 3, 4, and 5.) Unit labor costs in manufacturing decreased 1.2 
percent in the first quarter of 2016 and rose 1.6 percent from the same 
quarter a year ago. (See tables A and 3.) 

The concepts, sources, and methods used for the manufacturing output series 
differ from those used in the business and nonfarm business output series; 
these output measures are not directly comparable. See the Technical Notes 
for a more detailed explanation.

Preliminary fourth quarter and annual 2015 measures were announced today for 
the nonfinancial corporate sector. Productivity decreased 2.2 percent in the 
fourth quarter of 2015 and decreased 0.5 percent over the last four quarters. 
Annual average productivity increased 0.8 percent from 2014 to 2015. Unit 
profits of nonfinancial corporations fell 35.7 percent in the fourth quarter 
of 2015, which is the largest quarterly decline since a 41.8-percent decline 
in the fourth quarter of 2008. The measure has declined 15.2 percent over the 
last four quarters, which is the largest four-quarter decline since a 15.8-
percent decline in the third quarter of 2009. (See tables C and 6.)

Revised measures                

Measures of real hourly compensation for all sectors were revised from the 
second quarter of 2011 forward, due to incorporation of new and revised data 
from the BLS Office of Prices and Living Conditions. Output data for the 
manufacturing sector incorporate historically revised indexes of industrial 
production published by the Board of Governors of the Federal Reserve System 
on April 1. 

In the fourth quarter of 2015, nonfarm business sector productivity decreased 
1.7 percent--a smaller decline than reported March 3--reflecting an upward 
revision to output. Unit labor costs increased 2.7 percent, a smaller increase
than previously reported. Total manufacturing sector productivity decreased 
1.0 percent in the fourth quarter of 2015, as output was revised down more 
than hours. Unit labor costs in the total manufacturing sector increased 3.6
percent during the quarter. There were also revisions to measures for the 
durable and nondurable manufacturing sectors. (See table B.)

There were historical revisions to manufacturing labor productivity. The 
annual average rate of productivity growth for 2015 was revised down from 1.3 
percent to 0.2 percent and the rate for 2014 was revised down from 1.3 
percent to negative 0.1 percent. (See table 3.)

Quarterly and annual data for all sectors for recent years appear in tables 
1-6 and appendix tables 1-6. Full historical annual and quarterly 
measures can be found on the labor productivity and costs home page at 
www.bls.gov/lpc/#data. 
 
______________  






The revised Productivity and Costs news release for first-quarter 2016 is 
scheduled to be released on Tuesday, June 7, 2016 at 8:30 a.m. (EDT).






======================================================================================================
Table A. Preliminary first-quarter 2016 measures: percent change from previous quarter, at annual 
rate (Q to Q) and from same quarter a year ago (Y to Y)

Sector                    Nonfarm                                        Durable         Nondurable
                          Business         Business      Manufacturing   Manufacturing   Manufacturing
                       Q to Q   Y to Y  Q to Q  Y to Y  Q to Q  Y to Y  Q to Q  Y to Y  Q to Q  Y to Y
------------------------------------------------------------------------------------------------------
Labor Productivity      -1.0      0.6    -1.1     0.7     1.9     1.5     0.1     1.3     4.4     1.6
Output                   0.4      2.2     0.4     2.3     0.7     0.7    -0.1     0.3     1.7     1.1
Hours worked             1.5      1.6     1.6     1.6    -1.1    -0.8    -0.3    -1.0    -2.6    -0.5
Hourly compensation      3.0      2.8     2.9     2.9     0.6     3.1    -0.6     2.8     2.8     3.8
Real hourly 
 compensation            3.4      1.7     3.3     1.8     0.9     2.0    -0.3     1.7     3.1     2.7
Unit labor costs         4.1      2.3     4.1     2.2    -1.2     1.6    -0.8     1.5    -1.6     2.1
======================================================================================================
Table B. Revised and previous measures: fourth quarter and annual averages 2015

Sector            Nonfarm                                             Durable           Nondurable
                  Business         Business         Manufacturing     Manufacturing     Manufacturing
              Revised Previous  Revised Previous  Revised Previous  Revised Previous  Revised Previous
------------------------------------------------------------------------------------------------------
                                Percent change, annual rate, fourth quarter 2015
Labor 
 Productivity   -1.7    -2.2     -1.8     -2.2     -1.0     -0.7     -2.1     -1.8      0.3      0.3
Output           1.5     1.0      1.5      1.0     -0.4      0.1     -1.4     -1.2      0.8      1.6
Hours worked     3.3     3.2      3.4      3.3      0.6      0.8      0.7      0.6      0.5      1.2
Hourly
 compensation    0.9     1.1      0.7      0.9      2.5      2.4      2.8      2.9      2.0      1.6
Real hourly 
 compensation    0.1     0.9     -0.1      0.7      1.7      2.2      1.9      2.7      1.2      1.3
Unit labor 
 costs           2.7     3.3      2.6      3.2      3.6      3.2      4.9      4.8      1.7      1.2
------------------------------------------------------------------------------------------------------
                                     Percent change, annual average 2015
Labor 
 Productivity    0.7     0.7      0.6      0.6      0.2      1.3      0.0      1.6      0.2      0.8
Output           2.9     2.8      3.0      2.9      1.1      2.2      0.5      2.1      1.7      2.3
Hours worked     2.1     2.1      2.3      2.3      0.8      0.9      0.5      0.5      1.5      1.5
Hourly 
 compensation    2.8     2.8      2.7      2.7      2.2      2.2      2.0      2.0      2.4      2.4
Real hourly 
 compensation    2.7     2.7      2.5      2.5      2.0      2.0      1.9      1.9      2.3      2.3
Unit labor 
 costs           2.1     2.1      2.0      2.0      1.9      0.8      2.0      0.4      2.2      1.6
======================================================================================================
Table C. Nonfinancial corporations: preliminary fourth-quarter and annual average 2015 productivity 
and cost measures
                                                          Real 
               Labor                         Hourly       hourly       Unit                   Implicit
               produc-             Hours     compen-      compen-      labor      Unit        price
               tivity    Output    worked    sation       sation       costs      profits     deflator
------------------------------------------------------------------------------------------------------
                                Percent change, annual rate, fourth quarter 2015
Q to Q          -2.2      1.3       3.6       0.9          0.1          3.1       -35.7        0.1
Y to Y          -0.5      1.3       1.8       2.3          1.9          2.9       -15.2        0.5
------------------------------------------------------------------------------------------------------
                                        Percent change, annual average 2015                     
2015             0.8      3.0       2.2       2.0          1.9          1.2        -5.4       -0.2
======================================================================================================



				TECHNICAL NOTES 

Labor Hours

Hours data for the labor productivity and cost measures include hours worked
for all persons working in the sector-wage and salary workers, the self-
employed and unpaid family workers. The primary source of hours and 
employment 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, counting a person who is employed by two 
or more establishments at each place of employment. The CES also provides
average weekly paid hours of production and nonsupervisory workers in these
establishments. Weekly paid hours are adjusted to hours at work using data
from the National Compensation Survey (NCS) for 2001 forward and data from 
the BLS Hours at Work survey, conducted for this purpose, for earlier years. 
The Office of Productivity and Technology estimates average weekly hours at
work for nonproduction and supervisory workers using information from the 
Current Population Survey (CPS), the CES, and the NCS.

Data from the CPS are used to estimate hours worked for farm labor, nonfarm 
proprietors, and nonfarm unpaid family workers. Using CPS information on 
employment and hours worked at primary jobs and all other jobs, separately, 
the BLS productivity measures assign all hours worked to the correct 
industrial sector. Hours 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 a chain-type, current-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 76 percent of the value of GDP in 
2015. Nonfarm business, which excludes farming, accounted for about 75 
percent of GDP in 2015.

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
BLS. 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 indexes 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. 

Nonfinancial corporate output is a chain-type, current-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 offices in the 
finance and insurance sector. Nonfinancial corporations accounted for about 
50 percent of the value of GDP in 2015.
     
Labor Productivity

The measure describes the relationship between real output and the labor time 
involved in its production. Measures of labor productivity growth show the 
changes from period to period in the amount of goods and services produced 
per hour worked. 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.

Labor Compensation

The measure includes accrued wages and salaries, supplements, employer 
contributions to employee benefit plans, and taxes. Estimates of labor 
compensation by major sector, required for measures of hourly compensation
and unit labor costs, are based primarily on employee compensation data from
the NIPA, prepared by the BEA. The compensation of employees in general 
government, nonprofit institutions and private households are subtracted from
compensation of domestic employees to derive employee compensation for the
business sector. The labor compensation of proprietors cannot be explicitly
identified and must be estimated. This is done by assuming that proprietors
have the same hourly compensation as employees in the same sector. The 
quarterly labor productivity and cost measures do not contain estimates of
compensation for unpaid family workers.  
      
Unit Labor Costs

These measures describe the relationship between compensation per hour and
labor productivity, or real output per hour, and can be used as an indicator
of inflationary pressure on producers. Increases in hourly compensation 
increase unit labor costs; labor productivity increases offset compensation 
increases and lower unit labor costs. 

Presentation of the data

The quarterly data in this release are presented in three ways: as percent 
changes from the previous quarter presented at a compound annual rate, as
percent changes from the corresponding quarter of the previous year, and as
index number series where 2009=100. Annual data are presented both as index
number series and percent changes from the previous year.  

The index numbers and rates of change reported in the productivity and costs
news release are rounded to one decimal place. All percent changes in this 
release and on the BLS web site are calculated using index numbers to three
decimal places. A complete historical series of these index numbers are 
available at the BLS web site, www.bls.gov/data/home.htm, or by contacting 
the BLS Division of Major Sector Productivity (Telephone 202-691-5606 or 
email dprweb@bls.gov).

For a more detailed explanation of methodology see "Technical Information 
About the Major Sector Productivity and Costs Methods" at 
www.bls.gov/lpc/lpcmethods.pdf.
      
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: Labor productivity, hourly compensation, unit labor costs, and prices,
seasonally adjusted.
                                                          Real
                                               Hourly     hourly                Unit       Implicit
Year          Labor                            compen-    compen-     Unit      nonlabor   price
and           produc-               Hours      sation     sation      labor     payments   deflator
quarter       tivity     Output     worked     (1)        (2)         costs     (3)        (4)
---------------------------------------------------------------------------------------------------
                      Percent change from previous quarter at annual rate (5)

2016 I        -1.1         0.4        1.6        2.9        3.3        4.1       -4.9        0.2  

2015 ANNUAL    0.6         3.0 r      2.3        2.7        2.5        2.0       -1.0 r      0.7  

2015 IV       -1.8 r       1.5 r      3.4 r      0.7 r     -0.1 r      2.6 r     -2.3 r      0.5  
     III       2.4         2.2       -0.2        2.4        1.0 r      0.0        2.2        0.9  
     II        3.4         5.0        1.6        5.5        2.9 r      2.1        2.5        2.2  
     I        -1.0         0.6        1.6        1.6        4.6 r      2.6       -3.7       -0.1  

2014 ANNUAL    0.7         3.0        2.3        2.7        1.0        2.0        0.6        1.4  

2014 IV       -2.0         2.6        4.7        3.6        3.9 r      5.6       -8.3       -0.6  
     III       2.6         5.5        2.9        2.5        1.7 r      0.0        2.9        1.2  
     II        2.5         5.7        3.1       -1.4       -3.3 r     -3.7       10.7        2.3  
     I        -3.3        -1.7        1.6        6.3        4.0 r      9.9       -8.6        1.5  
---------------------------------------------------------------------------------------------------
                    Percent change from corresponding quarter of previous year

2016 I         0.7         2.3        1.6        2.9        1.8        2.2       -0.7        1.0  

2015 ANNUAL    0.6         3.0 r      2.3        2.7        2.5        2.0       -1.0 r      0.7  

2015 IV        0.7 r       2.3 r      1.6        2.5 r      2.1        1.8 r     -0.4 r      0.9  
     III       0.7         2.6        1.9        3.2        3.1        2.6       -1.9        0.6  
     II        0.7         3.4        2.7        3.3        3.3 r      2.6       -1.8        0.7  
     I         0.5         3.6        3.1        1.6        1.7 r      1.1        0.1        0.7  

2014 ANNUAL    0.7         3.0        2.3        2.7        1.0        2.0        0.6        1.4  

2014 IV       -0.1         3.0        3.1        2.7        1.5        2.8       -1.1        1.1  
     III       1.3         3.6        2.3        2.4        0.7 r      1.1        2.1        1.5  
     II        1.0         3.2        2.2        1.9       -0.2        0.9        2.7        1.7  
     I         0.5         2.2        1.7        3.7        2.3        3.3       -1.3        1.3  
---------------------------------------------------------------------------------------------------
                                         Indexes 2009=100

2016 I       105.8       118.4      111.9      115.9      104.5      109.5      109.6      109.5  

2015 ANNUAL  106.0 r     117.3 r    110.7 r    114.2 r    103.4 r    107.8 r    111.0 r    109.1 r

2015 IV      106.1 r     118.3 r    111.4 r    115.0 r    103.7 r    108.4 r    111.0 r    109.5 r
     III     106.6       117.8      110.5      114.8      103.7 r    107.7      111.7      109.4  
     II      106.0       117.2      110.6      114.2      103.4 r    107.7      111.0      109.1  
     I       105.1       115.8      110.1      112.6      102.7 r    107.2      110.4      108.5  

2014 ANNUAL  105.3       113.9      108.2      111.2      100.8      105.6      112.1      108.4  

2014 IV      105.4       115.6      109.7      112.2      101.5 r    106.5      111.4      108.5  
     III     105.9       114.8      108.4      111.2      100.6 r    105.0      113.9      108.7  
     II      105.2       113.3      107.7      110.5      100.2 r    105.0      113.0      108.4  
     I       104.6       111.8      106.8      110.9      101.0 r    106.0      110.2      107.8  
---------------------------------------------------------------------------------------------------
See footnotes following Table 6.                                                        May 4, 2016
r=revised                                                        Source: Bureau of Labor Statistics



Table 2. Nonfarm business sector: Labor productivity, hourly compensation, unit labor costs, and
prices, seasonally adjusted.
                                                          Real
                                               Hourly     hourly                Unit       Implicit
Year          Labor                            compen-    compen-     Unit      nonlabor   price
and           produc-               Hours      sation     sation      labor     payments   deflator
quarter       tivity     Output     worked     (1)        (2)         costs     (3)        (4)
---------------------------------------------------------------------------------------------------
                      Percent change from previous quarter at annual rate (5)

2016 I        -1.0         0.4        1.5        3.0        3.4        4.1       -4.3        0.5  

2015 ANNUAL    0.7         2.9 r      2.1        2.8        2.7        2.1       -0.5        1.0  

2015 IV       -1.7 r       1.5 r      3.3 r      0.9 r      0.1 r      2.7 r     -1.6 r      0.9  
     III       2.0         1.8       -0.2        2.3        1.0 r      0.4        1.9        1.0  
     II        3.1         5.1        1.9        5.2        2.6 r      2.0        2.8        2.3  
     I        -0.8         0.5        1.3        1.8        4.8 r      2.6       -2.3        0.5  

2014 ANNUAL    0.8         3.0        2.2        2.8        1.2        2.0        0.9        1.5  

2014 IV       -1.7         2.6        4.4        3.9        4.2 r      5.7       -8.1       -0.5  
     III       3.1         5.5        2.3        3.3        2.4 r      0.1        4.1        1.8  
     II        2.4         5.4        3.0       -1.3       -3.2 r     -3.5        9.5        1.9  
     I        -3.1        -1.2        2.0        5.9        3.6 r      9.4       -8.5        1.3  
---------------------------------------------------------------------------------------------------
                    Percent change from corresponding quarter of previous year

2016 I         0.6         2.2        1.6        2.8        1.7        2.3       -0.4        1.1  

2015 ANNUAL    0.7         2.9 r      2.1        2.8        2.7        2.1       -0.5        1.0  

2015 IV        0.6 r       2.2 r      1.6        2.5 r      2.1        1.9 r      0.2 r      1.2  
     III       0.6         2.5        1.8        3.3        3.1        2.7       -1.5        0.8  
     II        0.9         3.4        2.5        3.5        3.5        2.6       -1.0        1.0  
     I         0.7         3.5        2.7        1.9        2.0        1.2        0.6        0.9  

2014 ANNUAL    0.8         3.0        2.2        2.8        1.2        2.0        0.9        1.5  

2014 IV        0.1         3.0        2.9        2.9        1.7        2.8       -1.1        1.1  
     III       1.5         3.7        2.2        2.6        0.8        1.1        2.5        1.7  
     II        1.0         3.2        2.1        2.0       -0.1        0.9        2.9        1.8  
     I         0.4         2.1        1.7        3.8        2.4        3.4       -0.7        1.6  
---------------------------------------------------------------------------------------------------
                                         Indexes 2009=100

2016 I       105.9       118.3      111.8      116.1      104.7      109.7      109.5      109.6  

2015 ANNUAL  106.0 r     117.2 r    110.6 r    114.4 r    103.5 r    107.9 r    110.6 r    109.0  

2015 IV      106.1 r     118.2 r    111.4 r    115.2 r    103.8 r    108.6 r    110.7 r    109.5  
     III     106.6       117.7      110.5      115.0      103.8 r    107.9      111.1      109.2  
     II      106.1       117.2      110.5      114.3      103.6 r    107.8      110.6      109.0  
     I       105.3       115.8      110.0      112.9      102.9 r    107.2      109.9      108.3  

2014 ANNUAL  105.3       114.0      108.3      111.2      100.8      105.7      111.1      107.9  

2014 IV      105.5       115.6      109.6      112.4      101.7 r    106.6      110.5      108.2  
     III     105.9       114.9      108.5      111.3      100.7 r    105.1      112.9      108.3  
     II      105.1       113.4      107.9      110.4      100.1 r    105.0      111.8      107.8  
     I       104.5       111.9      107.1      110.8      100.9 r    106.0      109.2      107.4  
---------------------------------------------------------------------------------------------------
See footnotes following Table 6.                                                        May 4, 2016
r=revised                                                        Source: Bureau of Labor Statistics



Table 3. Manufacturing sector: Labor productivity, hourly compensation, and unit labor costs,
seasonally adjusted.
                                                                             Real
Year              Labor                                       Hourly         hourly          Unit
and               produc-                      Hours          compensa-      compensa-       labor
quarter           tivity        Output         worked         tion (1)       tion (2)        costs
---------------------------------------------------------------------------------------------------
                      Percent change from previous quarter at annual rate (5)

2016 I             1.9            0.7           -1.1            0.6            0.9           -1.2  

2015 ANNUAL        0.2 r          1.1 r          0.8 r          2.2            2.0            1.9 r

2015 IV           -1.0 r         -0.4 r          0.6 r          2.5 r          1.7 r          3.6 r
     III           3.7 r          1.9 r         -1.7            4.0            2.6 r          0.3 r
     II            1.5 r          0.6 r         -0.9            5.6            3.0 r          4.0 r
     I            -1.7 r         -1.4 r          0.3           -2.4            0.5 r         -0.7 r

2014 ANNUAL       -0.1 r          1.5 r          1.6            2.7            1.1            2.8 r

2014 IV           -1.2 r          2.6 r          3.9            4.9            5.2 r          6.1 r
     III           0.9 r          2.5 r          1.6            2.5            1.6 r          1.5 r
     II            1.4 r          4.9 r          3.4           -1.8           -3.7 r         -3.2 r
     I             0.3 r         -0.9 r         -1.2            8.9            6.4 r          8.5 r
---------------------------------------------------------------------------------------------------
                    Percent change from corresponding quarter of previous year

2016 I             1.5            0.7           -0.8            3.1            2.0            1.6  

2015 ANNUAL        0.2 r          1.1 r          0.8 r          2.2            2.0            1.9 r

2015 IV            0.6 r          0.2 r         -0.4            2.4            1.9            1.7 r
     III           0.6 r          0.9 r          0.4            2.9            2.8            2.4 r
     II           -0.1 r          1.1 r          1.2            2.6            2.6 r          2.7 r
     I            -0.1 r          2.1 r          2.3            0.7            0.8            0.9 r

2014 ANNUAL       -0.1 r          1.5 r          1.6            2.7            1.1            2.8 r

2014 IV            0.4 r          2.3 r          1.9            3.5            2.3            3.2 r
     III           0.2 r          2.1 r          1.9            2.3            0.5            2.1 r
     II           -0.6 r          1.3 r          2.0            1.8           -0.2 r          2.4 r
     I            -0.4 r          0.2 r          0.5            3.3            1.9            3.7 r
---------------------------------------------------------------------------------------------------
                                         Indexes 2009=100

2016 I           119.6          128.3          107.3          111.8          100.9           93.5  

2015 ANNUAL      118.6 r        127.8 r        107.7 r        110.2 r         99.8 r         92.9 r

2015 IV          119.1 r        128.1 r        107.6 r        111.7 r        100.6 r         93.8 r
     III         119.4 r        128.2 r        107.4          111.0          100.2 r         93.0 r
     II          118.3 r        127.6 r        107.9          109.9           99.6 r         92.9 r
     I           117.8 r        127.4 r        108.1          108.4           98.8 r         92.0 r

2014 ANNUAL      118.4 r        126.5 r        106.8          107.9           97.8           91.2 r

2014 IV          118.3 r        127.8 r        108.0          109.1           98.7 r         92.2 r
     III         118.7 r        127.0 r        107.0          107.8           97.5 r         90.8 r
     II          118.4 r        126.2 r        106.6          107.1           97.1 r         90.5 r
     I           118.0 r        124.7 r        105.7          107.6           98.0 r         91.2 r
---------------------------------------------------------------------------------------------------
See footnotes following Table 6.                                                        May 4, 2016
r=revised                                                        Source: Bureau of Labor Statistics



Table 4. Durable manufacturing sector: Labor productivity, hourly compensation, and unit labor
costs, seasonally adjusted.
                                                                             Real
Year              Labor                                       Hourly         hourly          Unit
and               produc-                      Hours          compensa-      compensa-       labor
quarter           tivity        Output         worked         tion (1)       tion (2)        costs
---------------------------------------------------------------------------------------------------
                      Percent change from previous quarter at annual rate (5)

2016 I             0.1           -0.1           -0.3           -0.6           -0.3           -0.8  

2015 ANNUAL        0.0 r          0.5 r          0.5            2.0            1.9            2.0 r

2015 IV           -2.1 r         -1.4 r          0.7 r          2.8 r          1.9 r          4.9 r
     III           5.1 r          2.3 r         -2.7            3.6            2.3 r         -1.4 r
     II            2.2 r          0.5 r         -1.7            5.6            3.1 r          3.3 r
     I            -4.0 r         -4.0 r          0.1           -3.5           -0.7 r          0.5 r

2014 ANNUAL        0.8 r          3.0 r          2.1            2.3            0.6            1.4 r

2014 IV           -0.3 r          2.0 r          2.3            6.1            6.4 r          6.5 r
     III           0.8 r          3.8 r          2.9            2.4            1.6 r          1.6 r
     II            2.2 r          7.2 r          4.9           -2.1           -4.0 r         -4.2 r
     I             1.6 r          0.5 r         -1.1            8.6            6.2 r          6.9 r
---------------------------------------------------------------------------------------------------
                    Percent change from corresponding quarter of previous year

2016 I             1.3            0.3           -1.0            2.8            1.7            1.5  

2015 ANNUAL        0.0 r          0.5 r          0.5            2.0            1.9            2.0 r

2015 IV            0.2 r         -0.7 r         -0.9            2.1            1.6 r          1.8 r
     III           0.7 r          0.2 r         -0.5            2.9            2.7            2.2 r
     II           -0.4 r          0.5 r          0.9            2.6            2.6 r          2.9 r
     I            -0.4 r          2.2 r          2.5            0.7            0.8 r          1.0 r

2014 ANNUAL        0.8 r          3.0 r          2.1            2.3            0.6            1.4 r

2014 IV            1.1 r          3.3 r          2.2            3.7            2.5 r          2.6 r
     III           1.1 r          4.0 r          2.9            1.5           -0.2 r          0.4 r
     II            0.5 r          3.2 r          2.6            1.3           -0.8            0.7 r
     I             0.7 r          1.4 r          0.7            2.7            1.3            2.0 r
---------------------------------------------------------------------------------------------------
                                         Indexes 2009=100

2016 I           123.2          135.7          110.1          110.2           99.3           89.4  

2015 ANNUAL      122.7 r        135.7 r        110.6 r        108.9 r         98.6 r         88.7 r

2015 IV          123.2 r        135.7 r        110.2 r        110.3 r         99.4 r         89.6 r
     III         123.8 r        136.2 r        110.0          109.6           98.9 r         88.5 r
     II          122.3 r        135.4 r        110.8          108.6           98.4 r         88.8 r
     I           121.6 r        135.3 r        111.2          107.1           97.7 r         88.1 r

2014 ANNUAL      122.7 r        134.9 r        110.0          106.7           96.7           87.0 r

2014 IV          122.9 r        136.6 r        111.2          108.1           97.8 r         88.0 r
     III         123.0 r        136.0 r        110.6          106.5           96.3 r         86.6 r
     II          122.7 r        134.7 r        109.8          105.9           95.9 r         86.3 r
     I           122.1 r        132.4 r        108.5          106.4           96.9 r         87.2 r
---------------------------------------------------------------------------------------------------
See footnotes following Table 6.                                                        May 4, 2016
r=revised                                                        Source: Bureau of Labor Statistics



Table 5. Nondurable manufacturing sector: Labor productivity, hourly compensation, and unit labor
costs, seasonally adjusted.
                                                                             Real
Year              Labor                                       Hourly         hourly          Unit
and               produc-                      Hours          compensa-      compensa-       labor
quarter           tivity        Output         worked         tion (1)       tion (2)        costs
---------------------------------------------------------------------------------------------------
                      Percent change from previous quarter at annual rate (5)

2016 I             4.4            1.7           -2.6            2.8            3.1           -1.6  

2015 ANNUAL        0.2 r          1.7 r          1.5            2.4            2.3            2.2 r

2015 IV            0.3            0.8 r          0.5 r          2.0 r          1.2 r          1.7 r
     III           1.5 r          1.4 r         -0.1            4.9            3.5 r          3.3 r
     II            0.3 r          0.7 r          0.4            5.6            3.0 r          5.3 r
     I             1.0 r          1.8 r          0.8           -0.2            2.7 r         -1.2 r

2014 ANNUAL       -0.9 r         -0.3 r          0.6            3.5            1.8            4.4 r

2014 IV           -3.0 r          3.4 r          6.6            2.8            3.2 r          6.0 r
     III           1.8 r          1.2 r         -0.7            2.4            1.6 r          0.6 r
     II            1.4 r          2.2 r          0.8           -1.4           -3.4 r         -2.8 r
     I            -1.1 r         -2.4 r         -1.3            9.3            6.8 r         10.5 r
---------------------------------------------------------------------------------------------------
                    Percent change from corresponding quarter of previous year

2016 I             1.6            1.1           -0.5            3.8            2.7            2.1  

2015 ANNUAL        0.2 r          1.7 r          1.5            2.4            2.3            2.2 r

2015 IV            0.8 r          1.2 r          0.4 r          3.0 r          2.6 r          2.3 r
     III          -0.1 r          1.8 r          1.9            3.2            3.1            3.3 r
     II            0.0 r          1.7 r          1.7            2.6            2.6            2.6 r
     I             0.3 r          2.1 r          1.8            0.9            1.0 r          0.6 r

2014 ANNUAL       -0.9 r         -0.3 r          0.6            3.5            1.8            4.4 r

2014 IV           -0.2 r          1.1 r          1.3            3.2            2.0            3.4 r
     III          -0.3 r         -0.1 r          0.2            3.6            1.8            3.9 r
     II           -1.6 r         -0.8 r          0.8            2.7            0.7 r          4.4 r
     I            -1.5 r         -1.3 r          0.2            4.4            3.0            6.0 r
---------------------------------------------------------------------------------------------------
                                         Indexes 2009=100

2016 I           111.8          114.8          102.7          114.4          103.2          102.3  

2015 ANNUAL      110.3 r        113.9 r        103.2 r        112.2 r        101.5 r        101.7 r

2015 IV          110.6 r        114.3 r        103.3 r        113.6 r        102.4 r        102.7 r
     III         110.5 r        114.1 r        103.2          113.1          102.1 r        102.3 r
     II          110.1 r        113.7 r        103.2          111.7          101.2 r        101.5 r
     I           110.1 r        113.5 r        103.1          110.2          100.5 r        100.2 r

2014 ANNUAL      110.1 r        112.0 r        101.7          109.5           99.2           99.5 r

2014 IV          109.8 r        113.0 r        102.9          110.3           99.8 r        100.5 r
     III         110.6 r        112.1 r        101.3          109.5           99.0 r         99.0 r
     II          110.1 r        111.8 r        101.5          108.9           98.7 r         98.9 r
     I           109.7 r        111.1 r        101.3          109.3           99.5 r         99.6 r
---------------------------------------------------------------------------------------------------
See footnotes following Table 6.                                                        May 4, 2016
r=revised                                                        Source: Bureau of Labor Statistics



Table 6. Nonfinancial corporate sector: Labor productivity, hourly compensation, unit labor costs,
unit profits, and prices, seasonally adjusted.
                                                     Real
                                           Hourly    hourly            Unit      Total           Implicit
Year         Labor                         compen-   compen-   Unit    nonlabor  unit    Unit    price
and          produc-             Hours     sation    sation    labor   costs     costs   profits deflator
quarter      tivity    Output    worked    (1)       (2)       costs   (6)       (7)     (8)     (4)
---------------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate (5)

2015 ANNUAL    0.8       3.0      2.2       2.0       1.9       1.2     -0.2      0.7     -5.4     -0.2  

2015 IV       -2.2       1.3      3.6       0.9       0.1       3.1     16.4      7.2    -35.7      0.1  
     III       0.7 r     2.2 r    1.5       2.4 r     1.1 r     1.7 r    1.1 r    1.5 r   -5.7 r    0.5  
     II        1.1       2.0      0.9       5.2       2.7 r     4.1     -2.9      1.8      5.8      2.4  
     I        -1.7      -0.3      1.4       0.8       3.8 r     2.6      3.2      2.8    -19.3     -0.8  

2014 ANNUAL    0.5       3.2      2.7       2.5       0.8       2.0     -1.4      0.9     -0.4      0.7  

2014 IV        3.9       7.4      3.4       2.0       2.3 r    -1.8     -6.4     -3.3     -6.5     -3.8  
     III       2.4       5.2      2.7       1.6       0.8 r    -0.8     -1.1     -0.9     17.2      1.6  
     II        1.1       6.2      5.0      -2.3      -4.2 r    -3.3     -3.4     -3.4     27.4      0.5  
     I        -1.3       0.2      1.6       8.8       6.4 r    10.3     -0.8      6.5    -22.0      1.9  

2013 ANNUAL    1.0       3.0      2.0       1.3      -0.1       0.3     -0.2      0.1      4.4      0.8  

2013 IV        0.1       2.3      2.2       1.2      -0.6 r     1.1      0.8      1.0      0.9      1.0  
     III      -2.0       0.5      2.6      -0.3      -2.3 r     1.7      1.2      1.6     -7.5      0.2  
     II        4.4       6.0      1.5       4.0       4.5 r    -0.5     -4.0     -1.6      6.9     -0.4  
     I        -0.3       2.8      3.1      -4.0      -5.5 r    -3.7      1.8     -1.9     14.6      0.3  
---------------------------------------------------------------------------------------------------------
                       Percent change from corresponding quarter of previous year

2015 ANNUAL    0.8       3.0      2.2       2.0       1.9       1.2     -0.2      0.7     -5.4     -0.2  

2015 IV       -0.5       1.3      1.8       2.3       1.9       2.9      4.2      3.3    -15.2      0.5  
     III       1.0 r     2.8 r    1.8       2.6 r     2.5 r     1.6 r   -1.3 r    0.7     -6.8 r   -0.5  
     II        1.4       3.5      2.1       2.4       2.4 r     1.0     -1.8      0.1     -1.7     -0.2  
     I         1.4       4.6      3.1       0.5       0.6      -0.9     -2.0     -1.2      3.0     -0.6  

2014 ANNUAL    0.5       3.2      2.7       2.5       0.8       2.0     -1.4      0.9     -0.4      0.7  

2014 IV        1.5       4.7      3.2       2.5       1.2       0.9     -2.9     -0.3      2.1      0.0  
     III       0.6       3.4      2.9       2.3       0.5       1.7     -1.1      0.8      4.1      1.3  
     II       -0.5       2.3      2.8       1.8      -0.3       2.3     -0.6      1.4     -1.9      0.9  
     I         0.3       2.2      1.9       3.4       1.9       3.1     -0.7      1.8     -6.1      0.7  

2013 ANNUAL    1.0       3.0      2.0       1.3      -0.1       0.3     -0.2      0.1      4.4      0.8  

2013 IV        0.5       2.9      2.3       0.2      -1.1 r    -0.4     -0.1     -0.3      3.4      0.3  
     III       2.1       4.2      2.2       1.9       0.3      -0.2     -1.2     -0.5      4.3      0.2  
     II        1.2       3.1      1.9       1.9       0.5       0.7     -0.4      0.3      4.8      1.0  
     I         0.2       1.9      1.7       1.3      -0.4       1.1      0.9      1.0      5.2      1.6  
---------------------------------------------------------------------------------------------------------
                                            Indexes 2009=100

2015 ANNUAL  109.3     123.3    112.8     112.9     102.2     103.3     96.4    101.0    139.9    105.1  

2015 IV      109.0     124.1    113.8     113.8     102.5     104.4     99.1    102.6    128.2    105.3  
     III     109.6 r   123.7 r  112.8     113.5 r   102.5 r   103.6 r   95.5 r  100.9 r  143.1 r  105.3  
     II      109.4     123.0    112.4     112.9     102.2 r   103.2     95.2    100.5    145.3    105.2  
     I       109.1     122.4    112.2     111.4     101.6 r   102.1     95.9    100.0    143.2    104.6  

2014 ANNUAL  108.4     119.6    110.4     110.7     100.3     102.1     96.6    100.3    148.0    105.3  

2014 IV      109.6     122.5    111.8     111.2     100.6 r   101.5     95.1     99.4    151.1    104.8  
     III     108.5     120.3    110.8     110.7     100.1 r   101.9     96.7    100.2    153.7    105.8  
     II      107.9     118.8    110.1     110.2      99.9 r   102.1     97.0    100.4    147.7    105.4  
     I       107.6     117.0    108.8     110.8     100.9 r   103.0     97.8    101.3    139.0    105.2  

2013 ANNUAL  107.9     116.0    107.5     108.1      99.5     100.1     98.0     99.4    148.5    104.6  

2013 IV      108.0     117.0    108.3     108.5      99.4 r   100.5     98.0     99.7    148.0    104.7  
     III     107.9     116.3    107.8     108.2      99.5 r   100.2     97.8     99.4    147.6    104.5  
     II      108.5     116.1    107.1     108.3     100.1 r    99.8     97.5     99.1    150.5    104.4  
     I       107.3     114.5    106.7     107.2      99.0 r    99.9     98.5     99.5    148.0    104.5  
---------------------------------------------------------------------------------------------------------
See footnotes following Table 6.                                                              May 4, 2016
r=revised                                                              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. Hours and 
compensation 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 
1.6 and 1.4 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 fourth quarter of 2015.

                               Table Footnotes 

(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 1978-2015 is based on the Consumer
Price Index research series (CPI-U-RS).

(3) Unit nonlabor payments include profits, consumption of fixed capital, 
taxes on production and imports less subsidies, net interest and 
miscellaneous payments, business current transfer payments, rental income of 
persons, and the current surplus of government enterprises.

(4) Current dollar output divided by the output index.

(5) Quarterly changes: Percent change compounded at annual rate is 
calculated using index numbers to three decimal places. Indexes published in 
the news release are rounded to one decimal place for convenience. Annual 
changes: Percent change is calculated using annual indexes to three decimal 
places.

(6) Unit nonlabor costs include consumption of fixed capital, taxes on 
production and imports less subsidies, net interest and miscellaneous 
payments, and business current transfer payments.

(7) Total unit costs are the sum of unit labor and nonlabor costs.

(8) Unit profits include corporate profits before tax with inventory 
valuation and capital consumption adjustments.





Appendix table 1.
 Business sector: Revised labor productivity, hourly compensation, unit labor costs, and prices,
 seasonally adjusted.

                                                           Real
                                                Hourly     hourly                Unit       Implicit
 Year          Labor                            compen-    compen-     Unit      nonlabor   price
 and           produc-               Hours      sation     sation      labor     payments   deflator
 quarter       tivity     Output     worked     (1)        (2)         costs     (3)        (4)
 ----------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

 2013 ANNUAL    0.4         2.0        1.5        1.3       -0.2        0.8        2.4        1.5  

 2013 IV        3.5         5.1        1.5        2.3        0.5 r     -1.2        4.3        1.2  
      III       1.4         3.9        2.5        0.5       -1.6 r     -0.9        5.2        1.7  
      II        0.3         1.6        1.3        6.0        6.5 r      5.7       -5.5        0.6  
      I         1.4         2.5        1.1       -8.5       -9.9 r     -9.7       18.8        1.6  

 2012 ANNUAL    0.7         2.9        2.1        2.8        0.7        2.0        1.7        1.9  

 2012 IV       -1.8         0.2        2.0       11.2        8.1 r     13.2      -12.3        1.4  
      III      -1.1         0.6        1.7        0.4       -1.3 r      1.5        3.4        2.4  
      II        2.2         2.6        0.3        2.4        1.6 r      0.2        4.7        2.1  
      I         0.1         3.4        3.3        9.7        7.2 r      9.6       -7.5        1.7  

 2011 ANNUAL    0.1         2.1        2.0        2.1       -1.0        2.1        2.3        2.2  

 2011 IV        3.3         6.1        2.7       -4.7       -6.3       -7.7       12.9        0.8  
      III      -0.9         1.1        2.1        2.2       -0.4        3.2        2.1        2.7  
      II        1.1         3.8        2.7       -1.9       -6.2 r     -2.9       11.7        3.1  
      I        -3.3        -2.2        1.2        7.0        2.5       10.6       -9.1        1.7  
 ----------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

 2013 ANNUAL    0.4         2.0        1.5        1.3       -0.2        0.8        2.4        1.5  

 2013 IV        1.6         3.3        1.6       -0.1       -1.3       -1.7        5.4        1.3  
      III       0.3         2.0        1.7        2.0        0.5        1.7        0.9        1.3  
      II       -0.3         1.2        1.5        2.0        0.6        2.3        0.4        1.5  
      I         0.2         1.4        1.3        1.1       -0.6        1.0        3.1        1.9  

 2012 ANNUAL    0.7         2.9        2.1        2.8        0.7        2.0        1.7        1.9  

 2012 IV       -0.2         1.7        1.8        5.8        3.8        6.0       -3.2        1.9  
      III       1.1         3.1        2.0        1.8        0.2 r      0.7        3.1        1.8  
      II        1.2         3.3        2.1        2.3        0.4        1.1        2.8        1.8  
      I         0.9         3.6        2.7        1.2       -1.6        0.3        4.5        2.1  

 2011 ANNUAL    0.1         2.1        2.0        2.1       -1.0        2.1        2.3        2.2  

 2011 IV        0.0         2.2        2.2        0.6       -2.7        0.6        4.0        2.1  
      III      -0.5         1.5        2.0        2.2       -1.5        2.7        2.2        2.5  
      II        0.3         2.2        1.9        2.1       -1.2        1.8        2.8        2.2  
      I         0.4         2.5        2.1        3.8        1.6        3.3       -0.1        1.8  
 ----------------------------------------------------------------------------------------------------
                                          Indexes 2009=100

 2013 ANNUAL  104.6       110.6      105.7      108.3       99.8      103.6      111.5      106.9  

 2013 IV      105.5       112.2      106.4      109.2      100.0 r    103.6      112.7      107.4  
      III     104.6       110.9      106.0      108.6       99.9 r    103.9      111.5      107.1  
      II      104.2       109.8      105.4      108.5      100.3 r    104.1      110.1      106.6  
      I       104.1       109.4      105.0      106.9       98.7 r    102.7      111.7      106.4  

 2012 ANNUAL  104.1       108.4      104.1      107.0      100.0      102.7      108.9      105.3  

 2012 IV      103.8       108.7      104.7      109.3      101.3 r    105.3      107.0      106.0  
      III     104.2       108.6      104.2      106.5       99.4 r    102.1      110.5      105.7  
      II      104.5       108.5      103.8      106.4       99.7 r    101.7      109.6      105.0  
      I       104.0       107.8      103.7      105.7       99.3 r    101.7      108.4      104.5  

 2011 ANNUAL  103.4       105.3      101.9      104.1       99.3      100.7      107.0      103.3  

 2011 IV      103.9       106.9      102.9      103.3       97.6       99.4      110.5      104.0  
      III     103.1       105.3      102.2      104.5       99.2 r    101.4      107.2      103.8  
      II      103.3       105.1      101.7      104.0       99.3 r    100.6      106.6      103.1  
      I       103.1       104.1      101.0      104.5      100.9      101.4      103.7      102.3  
 ---------------------------------------------------------------------------------------------------
 See footnotes following Table 6.                                                        May 4, 2016
 r=revised                                                        Source: Bureau of Labor Statistics




Appendix table 2.
 Nonfarm business sector: Revised labor productivity, hourly compensation, unit labor costs, and
 prices, seasonally adjusted.

                                                           Real
                                                Hourly     hourly                Unit       Implicit
 Year          Labor                            compen-    compen-     Unit      nonlabor   price
 and           produc-               Hours      sation     sation      labor     payments   deflator
 quarter       tivity     Output     worked     (1)        (2)         costs     (3)        (4)
 ----------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

 2013 ANNUAL    0.0         1.7        1.7        1.1       -0.4        1.1        2.1        1.5  

 2013 IV        3.7         5.2        1.5        2.5        0.7 r     -1.1        5.6        1.7  
      III       1.4         3.5        2.1        0.9       -1.2 r     -0.5        5.8        2.2  
      II       -0.2         1.1        1.4        5.9        6.5 r      6.2       -5.0        1.2  
      I         0.0         1.7        1.6       -9.0      -10.4 r     -9.1       16.7        1.2  

 2012 ANNUAL    0.9         3.1        2.2        2.7        0.6        1.7        2.1        1.9  

 2012 IV       -2.0         0.2        2.3       10.9        7.8 r     13.2      -13.2        1.1  
      III      -0.9         1.0        1.9        0.2       -1.5 r      1.1        3.4        2.1  
      II        2.3         2.7        0.4        2.2        1.5 r     -0.1        5.3        2.2  
      I         0.7         3.9        3.2        9.7        7.1 r      8.9       -7.0        1.7  

 2011 ANNUAL    0.2         2.2        2.0        2.2       -0.9        2.1        1.4        1.8  

 2011 IV        3.1         5.8        2.6       -4.8       -6.5       -7.7       14.3        1.3  
      III      -0.7         1.1        1.9        2.5       -0.1        3.3        1.5        2.5  
      II        1.3         4.5        3.1       -2.2       -6.6       -3.5       12.0        2.8  
      I        -3.3        -2.5        0.9        7.3        2.9       11.0      -11.2        0.9  
 ----------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

 2013 ANNUAL    0.0         1.7        1.7        1.1       -0.4        1.1        2.1        1.5  

 2013 IV        1.2         2.9        1.6       -0.1       -1.3       -1.3        5.5        1.6  
      III      -0.2         1.6        1.8        1.9        0.4        2.1        0.5        1.4  
      II       -0.8         1.0        1.8        1.7        0.3        2.5       -0.1        1.4  
      I        -0.1         1.4        1.5        0.8       -0.9        1.0        2.5        1.6  

 2012 ANNUAL    0.9         3.1        2.2        2.7        0.6        1.7        2.1        1.9  

 2012 IV        0.0         2.0        1.9        5.7        3.7        5.6       -3.1        1.8  
      III       1.3         3.4        2.0        1.7        0.0        0.4        3.8        1.8  
      II        1.3         3.4        2.0        2.3        0.4        0.9        3.3        1.9  
      I         1.1         3.8        2.7        1.1       -1.7 r      0.1        4.8        2.1  

 2011 ANNUAL    0.2         2.2        2.0        2.2       -0.9        2.1        1.4        1.8  

 2011 IV        0.1         2.2        2.1        0.6       -2.7        0.5        3.6        1.9  
      III      -0.3         1.7        2.0        2.3       -1.4        2.6        1.3        2.0  
      II        0.4         2.4        2.0        2.1       -1.2        1.7        1.8        1.8  
      I         0.5         2.5        2.0        3.9        1.7        3.4       -1.1        1.5  
 ----------------------------------------------------------------------------------------------------
                                          Indexes 2009=100

 2013 ANNUAL  104.5       110.6      105.9      108.2       99.7      103.6      110.1      106.3  

 2013 IV      105.3       112.2      106.5      109.2      100.0 r    103.7      111.7      107.0  
      III     104.4       110.8      106.2      108.5       99.8 r    104.0      110.2      106.5  
      II      104.0       109.9      105.6      108.3      100.1 r    104.1      108.6      106.0  
      I       104.1       109.6      105.3      106.7       98.6 r    102.5      110.0      105.7  

 2012 ANNUAL  104.4       108.8      104.1      107.0      100.0      102.5      107.9      104.7  

 2012 IV      104.1       109.1      104.8      109.3      101.3 r    105.0      105.9      105.3  
      III     104.6       109.1      104.2      106.5       99.4 r    101.8      109.7      105.1  
      II      104.8       108.8      103.8      106.4       99.8 r    101.5      108.7      104.5  
      I       104.2       108.1      103.7      105.9       99.4 r    101.6      107.3      104.0  

 2011 ANNUAL  103.5       105.5      101.9      104.2       99.4      100.7      105.7      102.8  

 2011 IV      104.1       107.0      102.9      103.4       97.8       99.4      109.3      103.5  
      III     103.3       105.5      102.2      104.7       99.4 r    101.4      105.7      103.2  
      II      103.5       105.2      101.7      104.1       99.4 r    100.6      105.3      102.6  
      I       103.1       104.1      100.9      104.7      101.1      101.5      102.4      101.9  
 ---------------------------------------------------------------------------------------------------
 See footnotes following Table 6.                                                        May 4, 2016
 r=revised                                                        Source: Bureau of Labor Statistics




Appendix table 3.
 Manufacturing sector: Revised labor productivity, hourly compensation, and unit labor costs,
 seasonally adjusted.

                                                                              Real
 Year              Labor                                       Hourly         hourly          Unit
 and               produc-                      Hours          compensa-      compensa-       labor
 quarter           tivity        Output         worked         tion (1)       tion (2)        costs
 ----------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

 2013 ANNUAL        0.7            1.5            0.8            0.2           -1.2           -0.5  

 2013 IV           -1.9 r          1.9 r          3.8           -0.2           -2.0 r          1.7 r
      III          -2.3 r         -0.5 r          1.9            0.7           -1.4 r          3.0 r
      II            2.5            0.1           -2.4            4.1            4.7 r          1.6  
      I             1.8 r          3.9 r          2.1           -5.1           -6.6 r         -6.8 r

 2012 ANNUAL        0.7            3.0            2.3            1.7           -0.3            1.0  

 2012 IV            2.2 r          2.3 r          0.0            4.3            1.4 r          2.1 r
      III          -1.3 r         -0.3 r          0.9           -1.3           -2.9 r          0.0 r
      II           -0.9 r          0.8 r          1.7            1.1            0.3 r          2.0 r
      I             1.4 r          4.5 r          3.1            9.6            7.0 r          8.1 r

 2011 ANNUAL        5.6            7.8            2.1            1.7           -1.4           -3.6  

 2011 IV           -1.0 r          3.9 r          4.9           -4.8           -6.5 r         -3.8 r
      III           5.8 r          6.0 r          0.2            1.5           -1.1           -4.1 r
      II            0.6            3.1            2.5           -2.1           -6.5           -2.7  
      I             6.3 r          8.7 r          2.3            3.3           -0.9           -2.8 r
 ----------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

 2013 ANNUAL        0.7            1.5            0.8            0.2           -1.2           -0.5  

 2013 IV            0.0 r          1.3 r          1.3           -0.2           -1.4           -0.2 r
      III           1.0 r          1.4 r          0.4            0.9           -0.6           -0.1 r
      II            1.3 r          1.5 r          0.1            0.4           -0.9           -0.8 r
      I             0.5 r          1.6 r          1.2           -0.3           -2.0           -0.8 r

 2012 ANNUAL        0.7            3.0            2.3            1.7           -0.3            1.0  

 2012 IV            0.4 r          1.8 r          1.4            3.4            1.4            3.0 r
      III          -0.4 r          2.2 r          2.6            1.0           -0.6 r          1.5  
      II            1.3 r          3.8 r          2.5            1.7           -0.2            0.4 r
      I             1.7 r          4.4 r          2.7            0.9           -1.9           -0.8 r

 2011 ANNUAL        5.6            7.8            2.1            1.7           -1.4           -3.6  

 2011 IV            2.9 r          5.4 r          2.5           -0.6           -3.8           -3.4 r
      III           5.1 r          6.3 r          1.1            1.9           -1.7 r         -3.0 r
      II            5.4 r          7.8 r          2.3            1.7           -1.6           -3.5 r
      I             9.2 r         11.9 r          2.5            4.0            1.8           -4.7 r
 ----------------------------------------------------------------------------------------------------
                                          Indexes 2009=100

 2013 ANNUAL      118.5          124.6          105.2          105.1           96.8           88.7  

 2013 IV          117.9 r        125.0 r        106.0          105.4           96.5 r         89.4 r
      III         118.5 r        124.4 r        105.0          105.4           97.0 r         89.0 r
      II          119.2 r        124.6 r        104.5          105.2           97.3 r         88.3 r
      I           118.4 r        124.5 r        105.2          104.2           96.2 r         88.0 r

 2012 ANNUAL      117.7          122.8          104.4          104.8           97.9           89.1  

 2012 IV          117.9 r        123.4 r        104.6          105.6           97.9 r         89.5 r
      III         117.3 r        122.7 r        104.6          104.4           97.5 r         89.1 r
      II          117.6 r        122.8 r        104.4          104.8           98.2 r         89.1 r
      I           117.9 r        122.5 r        103.9          104.5           98.2 r         88.6 r

 2011 ANNUAL      116.8          119.2          102.1          103.0           98.3           88.2  

 2011 IV          117.5 r        121.2 r        103.2          102.1           96.5           86.9 r
      III         117.8 r        120.0 r        101.9          103.4           98.1 r         87.8 r
      II          116.1 r        118.3 r        101.9          103.0           98.4 r         88.7 r
      I           115.9 r        117.4 r        101.2          103.6          100.1           89.3 r
 ---------------------------------------------------------------------------------------------------
 See footnotes following Table 6.                                                        May 4, 2016
 r=revised                                                        Source: Bureau of Labor Statistics




Appendix table 4.
 Durable manufacturing sector: Revised labor productivity, hourly compensation, and unit labor
 costs, seasonally adjusted.

                                                                              Real
 Year              Labor                                       Hourly         hourly          Unit
 and               produc-                      Hours          compensa-      compensa-       labor
 quarter           tivity        Output         worked         tion (1)       tion (2)        costs
 ----------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

 2013 ANNUAL        0.8            1.8            1.1           -0.3           -1.8           -1.1  

 2013 IV           -0.2 r          4.7 r          4.9           -2.6           -4.3 r         -2.4 r
      III          -1.4 r          0.4 r          1.9            1.5           -0.6 r          3.0 r
      II            2.8 r          0.0 r         -2.7            3.6            4.1 r          0.8 r
      I             0.1 r          3.7 r          3.6           -6.4           -7.8 r         -6.5 r

 2012 ANNUAL        2.9            5.9            2.9            1.5           -0.6           -1.4  

 2012 IV            2.7 r          2.7 r          0.0            5.3            2.3 r          2.5 r
      III          -1.5 r         -1.3 r          0.1           -2.3           -3.9 r         -0.9 r
      II            1.7 r          4.0 r          2.2           -0.6           -1.4 r         -2.3 r
      I             6.8 r         10.3 r          3.3           11.2            8.6 r          4.2 r

 2011 ANNUAL        4.9            8.9            3.8            1.8           -1.3           -2.9  

 2011 IV            0.5 r          8.1 r          7.5           -6.0           -7.6           -6.5 r
      III           8.6 r          8.5 r         -0.1            2.5           -0.1           -5.6 r
      II           -2.6 r          2.2 r          4.9           -4.2           -8.5           -1.7 r
      I             6.2 r         10.9 r          4.4            5.1            0.8           -1.0 r
 ----------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

 2013 ANNUAL        0.8            1.8            1.1           -0.3           -1.8           -1.1  

 2013 IV            0.3 r          2.2 r          1.9           -1.0           -2.3 r         -1.3 r
      III           1.0            1.7            0.7            0.9           -0.6           -0.1  
      II            1.0 r          1.2 r          0.2           -0.1           -1.4           -1.1 r
      I             0.8 r          2.2 r          1.5           -1.1           -2.8 r         -1.8  

 2012 ANNUAL        2.9            5.9            2.9            1.5           -0.6           -1.4  

 2012 IV            2.4 r          3.8            1.4            3.2            1.3            0.8 r
      III           1.9            5.2            3.2            0.4           -1.3           -1.5  
      II            4.4            7.7            3.2            1.6           -0.3           -2.7  
      I             3.2            7.2            3.9            0.7           -2.1           -2.5  

 2011 ANNUAL        4.9            8.9            3.8            1.8           -1.3           -2.9  

 2011 IV            3.1            7.4            4.2           -0.8           -4.0           -3.7 r
      III           4.4            7.2            2.7            2.0           -1.6           -2.2 r
      II            3.5            8.2            4.6            1.0           -2.3           -2.4  
      I             8.8 r         13.0            3.9            5.1            2.9           -3.4  
 ----------------------------------------------------------------------------------------------------
                                          Indexes 2009=100

 2013 ANNUAL      121.6          131.0          107.7          104.4           96.1           85.8  

 2013 IV          121.6 r        132.3 r        108.8          104.3           95.5 r         85.8 r
      III         121.6 r        130.7 r        107.5          104.9           96.5 r         86.3 r
      II          122.1 r        130.6 r        107.0          104.6           96.7 r         85.6 r
      I           121.2 r        130.6 r        107.7          103.6           95.7 r         85.5 r

 2012 ANNUAL      120.7          128.7          106.6          104.7           97.8           86.7  

 2012 IV          121.2 r        129.4 r        106.8          105.4           97.7 r         86.9 r
      III         120.4 r        128.6 r        106.8          104.0           97.1 r         86.4 r
      II          120.9 r        129.0 r        106.7          104.6           98.1 r         86.6 r
      I           120.3 r        127.7 r        106.2          104.8           98.4 r         87.1 r

 2011 ANNUAL      117.3          121.5          103.6          103.2           98.4           88.0  

 2011 IV          118.4 r        124.7 r        105.3          102.0           96.4           86.2 r
      III         118.2 r        122.2 r        103.4          103.6           98.4 r         87.7 r
      II          115.8 r        119.8 r        103.4          103.0           98.4 r         88.9 r
      I           116.6 r        119.1 r        102.2          104.1          100.6           89.3 r
 ---------------------------------------------------------------------------------------------------
 See footnotes following Table 6.                                                        May 4, 2016
 r=revised                                                        Source: Bureau of Labor Statistics




Appendix table 5.
 Nondurable manufacturing sector: Revised labor productivity, hourly compensation, and unit labor
 costs, seasonally adjusted.

                                                                              Real
 Year              Labor                                       Hourly         hourly          Unit
 and               produc-                      Hours          compensa-      compensa-       labor
 quarter           tivity        Output         worked         tion (1)       tion (2)        costs
 ----------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

 2013 ANNUAL        0.9            1.1            0.2            1.2           -0.2            0.3  

 2013 IV           -3.2 r         -1.2 r          2.1            4.3            2.5 r          7.8 r
      III          -3.4 r         -1.6 r          1.8           -0.9           -3.0 r          2.6 r
      II            1.7 r          0.0 r         -1.7            5.2            5.8 r          3.5 r
      I             4.3 r          3.7 r         -0.5           -3.0           -4.5 r         -7.0 r

 2012 ANNUAL       -0.6            0.7            1.3            2.1            0.0            2.7  

 2012 IV            1.9 r          2.0 r          0.1            2.6           -0.3 r          0.6 r
      III          -0.7 r          1.6 r          2.3            1.0           -0.6 r          1.7 r
      II           -2.1 r         -1.3 r          0.8            4.3            3.5 r          6.6 r
      I            -2.1 r          0.5 r          2.7            6.5            4.0 r          8.7 r

 2011 ANNUAL        4.1            3.4           -0.7            1.2           -1.9           -2.7  

 2011 IV           -0.7 r          0.0 r          0.7           -3.1           -4.8           -2.5 r
      III           1.9 r          2.6 r          0.7           -0.2           -2.8           -2.1 r
      II            3.2 r          1.8 r         -1.4            1.4           -3.1 r         -1.8 r
      I             3.6 r          2.4 r         -1.2           -0.4           -4.5           -3.9 r
 ----------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

 2013 ANNUAL        0.9            1.1            0.2            1.2           -0.2            0.3  

 2013 IV           -0.2 r          0.2 r          0.4            1.4            0.1            1.6 r
      III           1.1 r          1.0 r         -0.1            0.9           -0.6           -0.2 r
      II            1.8 r          1.8 r          0.0            1.4            0.0           -0.4 r
      I             0.8 r          1.5 r          0.7            1.2           -0.5            0.4 r

 2012 ANNUAL       -0.6            0.7            1.3            2.1            0.0            2.7  

 2012 IV           -0.8 r          0.7 r          1.5            3.6            1.6            4.4 r
      III          -1.4 r          0.2 r          1.6            2.1            0.4            3.6 r
      II           -0.8 r          0.5 r          1.2            1.8           -0.1            2.6 r
      I             0.6 r          1.2 r          0.7            1.1           -1.7            0.5 r

 2011 ANNUAL        4.1            3.4           -0.7            1.2           -1.9           -2.7  

 2011 IV            2.0 r          1.7 r         -0.3           -0.6           -3.8           -2.5 r
      III           3.9            2.5 r         -1.3            1.3           -2.3           -2.5  
      II            4.8 r          3.5 r         -1.3            2.4           -0.9           -2.3 r
      I             5.8 r          6.0 r          0.2            1.8           -0.3           -3.7 r
 ----------------------------------------------------------------------------------------------------
                                          Indexes 2009=100

 2013 ANNUAL      111.1          112.3          101.1          105.8           97.5           95.3  

 2013 IV          110.1 r        111.8 r        101.6          106.9           97.9 r         97.1 r
      III         111.0 r        112.2 r        101.1          105.8           97.3 r         95.3 r
      II          111.9 r        112.6 r        100.6          106.0           98.0 r         94.7 r
      I           111.4 r        112.6 r        101.1          104.7           96.6 r         93.9 r

 2012 ANNUAL      110.1          111.1          100.8          104.5           97.7           94.9  

 2012 IV          110.3 r        111.6 r        101.2          105.4           97.8 r         95.6 r
      III         109.7 r        111.0 r        101.2          104.8           97.8 r         95.5 r
      II          109.9 r        110.6 r        100.6          104.5           98.0 r         95.1 r
      I           110.5 r        111.0 r        100.4          103.4           97.2 r         93.6 r

 2011 ANNUAL      110.8          110.3           99.6          102.4           97.6           92.4  

 2011 IV          111.1 r        110.8 r         99.7          101.8           96.2           91.6 r
      III         111.3 r        110.8 r         99.6          102.6           97.4 r         92.2 r
      II          110.8 r        110.1 r         99.4          102.7           98.1 r         92.7 r
      I           109.9 r        109.6 r         99.7          102.3           98.9           93.1 r
 ---------------------------------------------------------------------------------------------------
 See footnotes following Table 6.                                                        May 4, 2016
 r=revised                                                        Source: Bureau of Labor Statistics




Appendix table 6.
 Nonfinancial corporate sector: Revised labor productivity, hourly compensation, unit labor costs,
 unit profits, and prices, seasonally adjusted.

                                                      Real
                                            Hourly    hourly            Unit      Total           Implicit
 Year         Labor                         compen-   compen-   Unit    nonlabor  unit    Unit    price
 and          produc-             Hours     sation    sation    labor   costs     costs   profits deflator
 quarter      tivity    Output    worked    (1)       (2)       costs   (6)       (7)     (8)     (4)
 ----------------------------------------------------------------------------------------------------------
                          Percent change from previous quarter at annual rate(5)

 2013 ANNUAL    1.0       3.0      2.0       1.3      -0.1       0.3     -0.2      0.1      4.4      0.8  

 2013 IV        0.1       2.3      2.2       1.2      -0.6 r     1.1      0.8      1.0      0.9      1.0  
      III      -2.0       0.5      2.6      -0.3      -2.3 r     1.7      1.2      1.6     -7.5      0.2  
      II        4.4       6.0      1.5       4.0       4.5 r    -0.5     -4.0     -1.6      6.9     -0.4  
      I        -0.3       2.8      3.1      -4.0      -5.5 r    -3.7      1.8     -1.9     14.6      0.3  

 2012 ANNUAL    1.7       4.0      2.3       2.9       0.8       1.2     -0.4      0.7      6.4      1.4  

 2012 IV        6.3       7.9      1.5       8.2       5.2 r     1.8     -3.8     -0.1      4.4      0.5  
      III      -5.1      -3.7      1.5       0.0      -1.7 r     5.4      4.5      5.1     -5.9      3.4  
      II        0.1       0.9      0.7       1.5       0.7 r     1.3      1.0      1.2      8.8      2.3  
      I         6.3       9.9      3.4      12.3       9.7 r     5.7     -3.2      2.6     -2.5      1.9  

 2011 ANNUAL   -0.2       2.5      2.7       2.1      -1.0       2.4      1.9      2.2      3.1      2.3  

 2011 IV        3.3       5.8      2.4      -4.3      -6.0      -7.4     -2.4     -5.8      9.5     -3.7  
      III      -2.8       0.1      3.0       1.1      -1.4       4.1      3.2      3.8     12.2      4.9  
      II        1.8       6.0      4.1      -2.6      -7.0      -4.3     -0.8     -3.2     56.3      3.1  
      I         1.9       3.3      1.3       9.9       5.3       7.8      4.0      6.5    -34.3      0.0  
 ----------------------------------------------------------------------------------------------------------
                        Percent change from corresponding quarter of previous year

 2013 ANNUAL    1.0       3.0      2.0       1.3      -0.1       0.3     -0.2      0.1      4.4      0.8  

 2013 IV        0.5       2.9      2.3       0.2      -1.1 r    -0.4     -0.1     -0.3      3.4      0.3  
      III       2.1       4.2      2.2       1.9       0.3      -0.2     -1.2     -0.5      4.3      0.2  
      II        1.2       3.1      1.9       1.9       0.5       0.7     -0.4      0.3      4.8      1.0  
      I         0.2       1.9      1.7       1.3      -0.4       1.1      0.9      1.0      5.2      1.6  

 2012 ANNUAL    1.7       4.0      2.3       2.9       0.8       1.2     -0.4      0.7      6.4      1.4  

 2012 IV        1.8       3.6      1.8       5.4       3.4       3.5     -0.4      2.2      1.1      2.0  
      III       1.1       3.1      2.0       2.2       0.5       1.1      0.0      0.7      2.3      0.9  
      II        1.7       4.1      2.4       2.5       0.6       0.8     -0.4      0.4      6.9      1.3  
      I         2.1       5.4      3.2       1.4      -1.4      -0.7     -0.8     -0.7     17.0      1.5  

 2011 ANNUAL   -0.2       2.5      2.7       2.1      -1.0       2.4      1.9      2.2      3.1      2.3  

 2011 IV        1.0       3.8      2.7       0.9      -2.4      -0.2      0.9      0.2      6.0      1.0  
      III      -1.2       1.5      2.7       2.1      -1.5       3.3      3.0      3.2      0.8      2.9  
      II        0.0       2.7      2.8       2.0      -1.3       2.1      1.7      1.9      6.9      2.6  
      I        -0.7       2.0      2.7       3.5       1.3       4.3      1.9      3.5     -1.5      2.8  
 ----------------------------------------------------------------------------------------------------------
                                             Indexes 2009=100

 2013 ANNUAL  107.9     116.0    107.5     108.1      99.5     100.1     98.0     99.4    148.5    104.6  

 2013 IV      108.0     117.0    108.3     108.5      99.4 r   100.5     98.0     99.7    148.0    104.7  
      III     107.9     116.3    107.8     108.2      99.5 r   100.2     97.8     99.4    147.6    104.5  
      II      108.5     116.1    107.1     108.3     100.1 r    99.8     97.5     99.1    150.5    104.4  
      I       107.3     114.5    106.7     107.2      99.0 r    99.9     98.5     99.5    148.0    104.5  

 2012 ANNUAL  106.8     112.6    105.3     106.7      99.7      99.8     98.2     99.3    142.2    103.8  

 2012 IV      107.4     113.7    105.9     108.3     100.4 r   100.9     98.1     99.9    143.1    104.5  
      III     105.8     111.6    105.5     106.2      99.2 r   100.4     99.0    100.0    141.5    104.3  
      II      107.1     112.6    105.1     106.2      99.6 r    99.1     97.9     98.7    143.7    103.4  
      I       107.1     112.4    104.9     105.8      99.4 r    98.8     97.7     98.4    140.7    102.9  

 2011 ANNUAL  105.1     108.2    102.9     103.7      98.9      98.6     98.6     98.6    133.7    102.3  

 2011 IV      105.5     109.7    104.0     102.8      97.2      97.5     98.5     97.8    141.6    102.4  
      III     104.6     108.2    103.4     103.9      98.7 r    99.3     99.1     99.3    138.4    103.4  
      II      105.4     108.2    102.7     103.7      99.0 r    98.4     98.3     98.3    134.5    102.1  
      I       104.9     106.6    101.6     104.3     100.8      99.5     98.5     99.1    120.2    101.3  
 ---------------------------------------------------------------------------------------------------------
 See footnotes following Table 6.                                                              May 4, 2016
 r=revised                                                              Source: Bureau of Labor Statistics

Last Modified Date: May 04, 2016