Internet address: http://www.bls.gov/lpc USDL 08-0293
Historical, technical TRANSMISSION OF THIS
information: (202) 691-5606 MATERIAL IS EMBARGOED
Current data: (202) 691-5200 UNTIL 8:30 A.M. EST,
Media contact: (202) 691-5902 WEDNESDAY, MARCH 5, 2008
PRODUCTIVITY AND COSTS
Fourth Quarter and Annual Averages, 2007 Revised
The Bureau of Labor Statistics of the U.S. Department of Labor today
reported revised fourth-quarter seasonally-adjusted annual rates of
productivity change--as measured by output per hour of all persons--and
revised changes for calendar year 2007. Percent changes in business and
nonfarm business productivity were:
Fourth Annual averages
quarter 2006-2007
Business sector 1.0 1.9
Nonfarm business sector 1.9 1.8
Productivity growth for the fourth quarter of 2007 was revised up by 0.4
percentage points in the business sector from the estimates published
February 6, due primarily to a downward revision to hours. Nonfarm business
productivity was revised up by 0.1 percentage points, with small downward
revisions to both output and hours. Unit labor costs also were revised up,
to 2.7 percent in the business sector and 2.6 percent in nonfarm businesses,
reflecting upward revisions in hourly compensation that more than offset the
productivity increases. Productivity growth during calendar year 2007 also
was higher than previously reported in both sectors.
In the manufacturing sector, increases in productivity were:
Fourth Annual averages
quarter 2006-2007
Manufacturing 2.3 3.7
Durable goods manufacturing 4.2 4.9
Nondurable goods manufacturing -0.5 2.2
==============================================================================
Data in this release reflect the annual benchmark revision of BLS Current
Employment Statistics program data on nonfarm employee hours, and revised
seasonal adjustment of those data. Also, hours of other nonfarm and farm
workers based on the BLS Current Population Survey incorporate new seasonal
adjustment factors. Due to these revisions, hours measures for all major
sectors were revised back to the first quarter of 2003. A conversion of
nonfarm employee hours series to NAICS 2007 classification further revised
all major sector series back to 1990. Revised seasonally-adjusted values of
the BLS Consumer Price Index for all urban consumers are reflected in
measures of consumer prices and real hourly compensation beginning with data
for the first quarter of 2007. See Revised Measures.
==============================================================================
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Table A. Productivity and costs: Revised fourth-quarter 2007 measures
(Seasonally adjusted annual rates)
------------------------------------------------------------------------------
Real
Hourly hourly Unit
Produc- compen- compen- labor
Sector tivity Output Hours sation sation costs
------------------------------------------------------------------------------
Percent change from preceding quarter
Business 1.0 0.2 -0.7 3.6 -1.3 2.7
Nonfarm business 1.9 0.3 -1.6 4.6 -0.5 2.6
Manufacturing 2.3 -1.7 -3.9 4.4 -0.6 2.1
Durable 4.2 -0.7 -4.7 5.2 0.1 0.9
Nondurable -0.5 -2.9 -2.4 3.0 -1.9 3.5
Percent change from same quarter a year ago
Business 3.0 2.6 -0.4 4.0 0.1 1.0
Nonfarm business 2.9 2.6 -0.3 3.9 0.0 0.9
Manufacturing 3.2 1.9 -1.3 3.7 -0.2 0.5
Durable 4.6 3.0 -1.5 3.5 -0.4 -1.0
Nondurable 1.5 0.5 -0.9 4.0 0.1 2.5
------------------------------------------------------------------------------
Productivity in total manufacturing grew at a 2.3 percent annual rate in
the fourth quarter of 2007, slightly less than the preliminary estimate of
2.5 percent. The fourth-quarter increase in productivity resulted when hours
fell faster than output. When revised annual averages for 2006 and 2007 were
compared, productivity increased more in each of the manufacturing sectors
than reported Feb. 6. Output and hours in manufacturing, which includes
about 12 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. Fourth-quarter productivity and related measures are summarized in
table A and appear in detail in tables 1 through 5. Preliminary and revised
fourth-quarter and annual data appear in table C.
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, 2007
Business
Labor productivity in the business sector increased 1.0 percent in the
fourth quarter of 2007, as output increased 0.2 percent and hours of all
persons engaged in the sector decreased 0.7 percent (seasonally adjusted
annual rates). When the fourth quarter of 2007 is compared to the fourth
quarter of 2006 output per hour increased 3.0 percent (table 1).
Hourly compensation grew at a 3.6-percent annual rate in the fourth
quarter after rising 3.7 percent in the third quarter of 2007, as revised.
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, decreased 1.3 percent in the fourth
quarter because consumer prices rose 5.0 percent (seasonally adjusted annual
rates).
Unit labor costs, which reflect changes in hourly compensation and
productivity, increased 2.7 percent during the fourth quarter of 2007, after
falling 2.8 percent in the third quarter. The implicit price deflator for
business output, which reflects changes in unit labor costs and unit nonlabor
payments, increased 2.3 percent in the fourth quarter and 0.3 percent in the
third quarter.
Nonfarm business
In the nonfarm business sector, productivity increased at an annual rate
of 1.9 percent in the fourth quarter of 2007, as output increased 0.3 percent
and hours of all persons--employees, proprietors, and unpaid family workers--
decreased 1.6 percent. The decline in hours was the largest since the first
quarter of 2003, when they fell 2.1 percent. From the fourth quarter of 2006
to the fourth quarter of 2007 productivity increased 2.9 percent (table 2).
Hourly compensation grew 4.6 percent in the fourth quarter. When the
increase in consumer prices was taken into account, real hourly compensation
decreased 0.5 percent. Real hourly compensation had grown 0.6 percent during
the third quarter of 2007.
Unit labor costs increased at a 2.6 percent annual rate in the fourth
quarter after falling 2.7 percent in the third quarter, as revised. The
implicit price deflator for nonfarm business increased 2.0 percent in the
fourth quarter and 0.1 percent in the third quarter of 2007.
Manufacturing
Manufacturing productivity increased 2.3 percent in the fourth quarter
of 2007, as output decreased 1.7 percent and hours fell 3.9 percent
(seasonally adjusted annual rates). In durable goods industries,
productivity increased 4.2 percent as both output and hours decreased, 0.7
percent and 4.7 percent, respectively. The decline in durable goods hours
was the largest since the third quarter of 2003, when hours fell 6.9 percent.
In nondurable goods industries, output per hour fell 0.5 percent, reflecting
decreases of 2.9 percent in output and 2.4 percent in hours. In the third
quarter of 2007, productivity increased 4.1 percent in total manufacturing,
5.4 percent in durable goods industries, and 3.2 percent in nondurable goods
industries, as revised (tables 3, 4, and 5).
Manufacturing hourly compensation grew at a 4.4 percent annual rate
during the fourth quarter of 2007. Durable goods manufacturing and
nondurable goods manufacturing posted increases in hourly compensation of 5.2
percent and 3.0 percent, respectively. When the 5.0 percent fourth-quarter
increase in consumer prices was taken into account, real hourly compensation
declined 0.6 percent in total manufacturing, edged up 0.1 percent in durable
manufacturing, and fell 1.9 percent in nondurable manufacturing (seasonally
adjusted annual rates).
Unit labor costs in manufacturing increased 2.1 percent in the fourth
quarter of 2007 after falling 3.3 percent in the third quarter, as revised.
These costs increased 0.9 percent in durable goods industries and 3.5 percent
in nondurable goods industries during the fourth quarter of 2007.
ANNUAL AVERAGE CHANGES, 2006-2007
Business and Nonfarm business
Business sector productivity increased 1.9 percent when the revised
annual average for 2007 was compared with the revised annual average for
2006--the same as the average rate of productivity growth over the past four
years, from 2003 to 2007. Nonfarm business sector productivity grew 1.8
percent in 2007 (table B). In both sectors, the modest productivity
improvement reflected output growth of 2.3 percent combined with small
increases in hours worked: business sector hours increased 0.4 percent, and
hours increased 0.5 percent in the nonfarm business sector.
------------------------------------------------------------------------------
Table B. Productivity and costs: Revised 2007 annual averages
(Seasonally adjusted annual rates)
------------------------------------------------------------------------------
Real
Hourly hourly Unit
Produc- compen- compen- labor
Sector tivity Output Hours sation sation costs
------------------------------------------------------------------------------
Percent change from previous year
Business 1.9 2.3 0.4 5.0 2.3 3.1
Nonfarm business 1.8 2.3 0.5 4.9 2.3 3.1
Manufacturing 3.7 2.0 -1.7 5.4 2.7 1.6
Durable 4.9 2.9 -1.9 5.5 2.9 0.6
Nondurable 2.2 0.9 -1.2 5.1 2.5 2.9
------------------------------------------------------------------------------
Hourly compensation increased 5.0 percent in the business sector and 4.9
percent in the nonfarm business sector. Real hourly compensation increased
2.3 percent during 2007 in both the business and nonfarm business sectors.
Unit labor costs increased 3.1 percent in the business and nonfarm business
sectors in 2007, faster than in any year since 2000, when unit labor costs
grew 4.1 percent in the business sector and 4.2 percent in the nonfarm
business sector.
Manufacturing
Manufacturing productivity grew 3.7 percent in 2007, reflecting an
increase in output of 2.0 percent and a decrease in hours of 1.7 percent. In
2006, output per hour had increased 4.3 percent, as output grew 4.9 percent
and hours rose 0.6 percent. Productivity also grew at a 4.3 percent average
annual rate from 2000 to 2005. Labor productivity increased 4.9 percent in
durable goods manufacturing during 2007, as output rose 2.9 percent and hours
fell 1.9 percent. Productivity in nondurable goods manufacturing increased
2.2 percent in 2007, reflecting a 0.9 percent increase in output and a 1.2
percent drop in hours (tables B, 3, 4, and 5).
Hourly compensation of manufacturing workers increased 5.4 percent in
2007, compared to a 2.8 percent increase one year earlier. Hourly
compensation increased 5.5 percent in durable manufacturing and 5.1 percent
in nondurable goods industries. Real hourly compensation in the
manufacturing sector increased 2.7 percent in 2007 after decreasing 0.5
percent in 2006.
From 2006 to 2007, unit labor costs rose 1.6 percent in manufacturing--
the largest increase in this measure since 2000, when unit labor costs
increased 4.9 percent. During 2007, unit labor costs increased 0.6 percent
in durable manufacturing and 2.9 percent in nondurable manufacturing.
------------------------------------------------------------------------------
Table C. Previous and revised productivity and related measures:
Fourth-quarter 2007, third-quarter 2007, and annual averages 2007
(Seasonally adjusted annual rates)
------------------------------------------------------------------------------
Real
Hourly hourly Unit
Produc- compen- compen- labor
Sector tivity Output Hours sation sation costs
------------------------------------------------------------------------------
Percent change, fourth quarter 2007
Business:
Previous 0.6 0.2 -0.5 2.8 -1.4 2.2
Revised 1.0 0.2 -0.7 3.6 -1.3 2.7
Nonfarm business:
Previous 1.8 0.4 -1.5 3.9 -0.3 2.1
Revised 1.9 0.3 -1.6 4.6 -0.5 2.6
Manufacturing:
Previous 2.5 -1.9 -4.3 4.2 -0.1 1.7
Revised 2.3 -1.7 -3.9 4.4 -0.6 2.1
------------------------------------------------------------------------------
Percent change, third quarter 2007
Business:
Previous 6.5 5.7 -0.7 4.4 2.4 -2.0
Revised 6.6 5.7 -0.9 3.7 0.8 -2.8
Nonfarm business:
Previous 6.0 5.6 -0.3 4.0 2.0 -1.9
Revised 6.3 5.6 -0.6 3.4 0.6 -2.7
Manufacturing:
Previous 4.0 3.9 -0.1 1.0 -0.8 -2.9
Revised 4.1 3.9 -0.2 0.7 -2.0 -3.3
------------------------------------------------------------------------------
Percent change, 2006 - 2007
Business:
Previous 1.6 2.3 0.7 4.8 1.9 3.1
Revised 1.9 2.3 0.4 5.0 2.3 3.1
Nonfarm business:
Previous 1.6 2.3 0.7 4.8 1.8 3.1
Revised 1.8 2.3 0.5 4.9 2.3 3.1
Manufacturing:
Previous 2.9 2.0 -1.0 4.6 1.7 1.6
Revised 3.7 2.0 -1.7 5.4 2.7 1.6
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REVISED MEASURES
Quarterly and annual measures for all sectors were revised back to 2003
to incorporate the annual benchmark adjustment and updated information on
seasonal trends from the BLS nonfarm payroll series, and were also revised
back to 1990 to convert all employee-hours series to NAICS 2007
classification (appendix tables 1-5). Hours and related measures for the
business and nonfarm business sectors were revised to incorporate updated
information on seasonal trends in Current Population Survey data on hours
worked. Quarterly measures of consumer prices and real hourly compensation
during 2007 also reflect the recalculation of seasonal factors for the
Consumer Price Index for All Urban Consumers (CPI-U). Full quarterly and annual
historical series are available on the BLS website,
http://www.bls.gov/data/home.htm or by contacting the BLS Division of Major
Sector Productivity at (202) 691-5606.
Previous and revised productivity and related data for the third
quarter, fourth quarter, and full year 2007 for business, nonfarm business,
and manufacturing are displayed in Table C. In the fourth quarter of 2007,
productivity growth was revised up from 0.6 percent to 1.0 percent in the
business sector, and from 1.8 percent to 1.9 percent in the nonfarm business
sector. In both sectors the upward revisions resulted from downward
revisions to hours, with output little changed. The upward revisions to
productivity were less than the upward revisions to hourly compensation, so
unit labor costs were revised up in both sectors, by 0.5 percentage points.
In the manufacturing sector, fourth-quarter productivity growth was revised
down from 2.5 percent to 2.3 percent; both output and hours were revised up
slightly. The combination of the downward revision to productivity and a
small upward revision to hourly compensation led to an upward revision in
unit labor costs from 1.7 percent to 2.1 percent.
Productivity growth was revised up in all major sectors for the third
quarter, due solely to downward revisions to hours; output was not revised.
Hourly compensation growth was revised down in all sectors, contributing to
downward revisions in unit labor costs.
After revisions to annual averages, productivity grew more in 2007 in
all major sectors than previously reported. These upward revisions to
productivity were offset by upward revisions to hourly compensation, and as a
result unit labor costs grew at the same rates reported Feb. 6.
Revised measures: Nonfinancial corporations
Measures for the nonfinancial corporate sector also were revised today
to incorporate new information regarding output and compensation in the third
quarter of 2007. Productivity in nonfinancial corporations in third-quarter
2007 was revised down from the preliminary estimate as output was revised
down more than hours worked. Hourly compensation was revised down by more
than productivity, and so unit labor costs edged down, rather than increasing
as reported Feb. 6. Unit profits posted a slightly smaller decrease than
originally reported.
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Table D. Nonfinancial corporations: Previous and revised productivity and
cost measures
Quarterly percent changes at seasonally adjusted annual rates
------------------------------------------------------------------------------
Real
Hourly hourly Unit Implicit
Produc- compen- compen- labor Unit price
tivity Output Hours sation sation costs profits deflator
------------------------------------------------------------------------------
Third quarter 2007
Previous 3.7 4.6 0.8 4.1 2.2 0.4 -11.0 -1.6
Revised 2.9 3.7 0.7 2.8 0.1 -0.1 -10.2 -1.6
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Next release date
The next release of Productivity and Costs is scheduled for 8:30 A.M.
EDT, Wednesday, May 7, 2008, and will present preliminary first-quarter 2008
measures for business, nonfarm business, and manufacturing. Fourth-quarter
2007 and annual average data for 2007 for nonfinancial corporations will be
released at that time.
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
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. 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). The BLS Hours at Work survey, conducted for this
purpose, was used 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 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.
The CES measures jobs, counting a person who is employed by two or more
establishments at each place of employment. In contrast, the CPS features
measures of employment that count each person only once and classify each
person according to his or her primary job; hours worked at all jobs by that
person accrue to his or her primary job. However, the CPS also collects more
detailed information on employment and hours worked at primary jobs and all
other jobs, separately. The BLS productivity measures use the more detailed
information on employment and hours to assign all hours worked to the correct
industrial sector and avoid duplicating hours data from the CES.
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
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 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
manufacturing; computer and electronic product manufacturing; electrical
equipment and appliance manufacturing; transportation equipment manu-
facturing; furniture and related product manufacturing; and miscellaneous
manufacturing. Nondurables include: food manufacturing; beverage and tobacco
product manufacturing; 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 manufacturing; 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 offices 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.
Labor Compensation: 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: The measures of unit labor costs in this release describe
the relationship between compensation per hour and 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 index number series where 1992=100, as percent changes from
the corresponding quarter of the previous year, and as percent changes from
the previous quarter presented at a compound annual rate. 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. These index numbers are available at the BLS web site,
http://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)
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)
---------------------------------------------------------------------------------------------------------
Indexes 1992=100
2005 I r134.3 157.2 r117.0 r161.5 r120.4 r120.2 r128.1 123.1
II r134.3 158.5 r118.0 r161.7 r119.4 r120.4 r129.9 123.9
III r135.9 160.6 r118.2 r164.1 r119.5 r120.8 r132.0 125.0
IV r135.6 161.0 r118.8 r165.4 r119.5 r122.0 r133.0 126.1
ANNUAL r135.0 159.3 r118.0 r163.2 r119.7 r120.9 r130.8 124.5
2006 I r136.3 163.2 r119.7 r168.3 r121.0 r123.4 r132.9 127.0
II r136.7 164.2 r120.1 r168.1 r119.4 r123.0 r136.5 128.0
III r136.1 164.4 r120.8 r168.7 r118.9 r123.9 r136.7 128.7
IV r136.6 165.5 r121.1 r173.5 r122.9 r127.0 r132.1 128.9
ANNUAL r136.4 164.3 r120.4 r169.7 r120.5 r124.3 r134.6 128.2
2007 I r136.8 165.6 r121.0 r176.1 r123.7 r128.7 r132.7 130.2
II r138.1 167.3 r121.2 r177.2 r123.1 r128.3 r135.3 130.9
III r140.3 169.7 r120.9 r178.8 r123.4 r127.4 r137.2 131.0
IV r140.7 r169.8 r120.7 r180.4 r122.9 r128.2 r137.8 r131.8
ANNUAL r139.0 r168.1 r121.0 r178.1 r123.3 r128.2 r135.8 r131.0
---------------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2005 I r2.8 3.7 r0.9 3.0 r1.0 r0.2 r8.9 3.4
II r0.0 3.3 r3.3 r0.6 r-3.2 r0.6 r5.7 2.6
III r4.6 5.5 r0.9 r6.1 r0.5 r1.4 r6.8 3.5
IV r-0.9 1.0 r1.9 r3.2 r-0.2 r4.1 r2.9 3.7
ANNUAL 2.0 3.6 1.6 4.0 0.6 2.0 4.9 3.1
2006 I r2.3 5.5 r3.1 r7.1 5.1 r4.7 r-0.2 2.8
II r1.1 2.5 r1.5 r-0.5 r-5.2 r-1.5 r11.3 3.3
III r-1.6 0.6 r2.3 r1.5 r-1.7 3.1 0.5 2.1
IV r1.4 2.6 r1.2 r11.8 r14.2 r10.4 r-12.7 0.8
ANNUAL 1.0 3.1 2.1 r4.0 r0.7 2.9 2.9 2.9
2007 I r0.6 0.2 r-0.4 r6.1 r2.8 r5.5 r1.8 4.1
II r3.8 4.4 r0.5 r2.5 r-2.0 r-1.3 r8.1 2.2
III r6.6 5.7 r-0.9 r3.7 r0.8 r-2.8 r5.5 0.3
IV r1.0 0.2 r-0.7 r3.6 r-1.3 r2.7 r1.9 r2.3
ANNUAL r1.9 2.3 r0.4 r5.0 r2.3 3.1 r0.9 2.2
---------------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2005 I 2.5 3.8 r1.3 r4.9 1.9 2.4 4.1 3.1
II 1.5 3.5 2.0 3.8 0.9 2.3 3.6 2.8
III 2.4 3.9 1.5 4.0 r0.2 1.6 r5.9 3.2
IV 1.6 3.4 1.7 3.2 -0.5 1.6 6.1 3.3
ANNUAL 2.0 3.6 1.6 4.0 0.6 2.0 4.9 3.1
2006 I 1.5 3.8 2.3 4.2 0.5 2.7 3.8 3.1
II r1.8 3.6 1.8 r4.0 0.0 2.2 5.1 3.3
III 0.2 2.4 2.2 2.8 -0.6 2.6 3.5 3.0
IV r0.8 2.8 r2.0 r4.9 r2.9 4.1 -0.6 2.2
ANNUAL 1.0 3.1 2.1 r4.0 r0.7 2.9 2.9 2.9
2007 I r0.3 1.5 r1.1 r4.6 r2.3 4.3 -0.1 2.6
II r1.0 1.9 r0.9 r5.4 r3.1 4.3 r-0.9 2.3
III r3.1 3.2 r0.1 r6.0 r3.8 r2.8 r0.4 1.8
IV r3.0 2.6 r-0.4 r4.0 r0.1 r1.0 r4.3 2.2
ANNUAL r1.9 2.3 r0.4 r5.0 r2.3 3.1 r0.9 2.2
---------------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2008
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
2005 I r133.3 157.4 r118.0 r160.3 r119.5 r120.2 r129.6 123.6
II r133.6 158.6 r118.7 r160.9 r118.8 r120.4 r131.3 124.5
III r135.0 160.8 r119.1 r163.2 r118.9 r120.9 r133.8 125.6
IV r134.5 161.2 r119.8 r164.3 r118.6 r122.1 r134.8 126.8
ANNUAL r134.1 159.5 r118.9 r162.2 r118.9 r120.9 r132.4 125.1
2006 I r135.2 163.4 r120.8 r167.0 r120.0 r123.5 r134.9 127.7
II r135.7 164.4 r121.2 r167.0 r118.6 r123.1 r138.8 128.9
III r135.2 164.7 r121.8 r167.6 r118.1 r124.0 r138.6 129.4
IV r135.7 165.7 r122.1 r172.5 r122.2 r127.2 r133.5 129.5
ANNUAL r135.4 164.5 r121.5 r168.6 r119.7 r124.5 r136.4 128.9
2007 I r136.0 165.9 r121.9 r175.2 r123.1 r128.8 r133.8 130.6
II r136.9 167.6 r122.4 r175.8 r122.1 r128.4 r136.3 131.3
III r139.0 169.9 r122.2 r177.3 r122.3 r127.5 r137.9 131.3
IV r139.7 r170.0 r121.8 r179.2 r122.2 r128.3 r138.3 r132.0
ANNUAL r137.9 r168.4 r122.1 r176.9 r122.4 r128.3 r136.6 r131.3
---------------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2005 I r3.4 3.9 r0.5 r3.4 r1.4 r0.0 r10.2 3.8
II r0.7 3.2 r2.5 r1.6 r-2.3 r0.8 r5.7 2.7
III r4.3 5.6 r1.2 r5.8 r0.3 r1.4 r7.5 3.8
IV -1.4 0.9 2.4 r2.7 r-0.7 r4.2 r3.0 3.7
ANNUAL 1.9 3.6 r1.7 4.0 r0.6 2.0 5.5 3.4
2006 I r2.1 5.7 r3.5 r6.9 r4.8 r4.7 r0.3 3.0
II r1.3 2.4 r1.1 r0.0 r-4.8 r-1.3 r12.1 3.7
III r-1.5 0.8 r2.3 r1.5 r-1.7 r3.0 -0.4 1.6
IV r1.6 2.6 r1.0 r12.3 r14.7 r10.5 r-13.9 0.3
ANNUAL 1.0 3.2 2.2 3.9 0.6 2.9 3.1 3.0
2007 I r1.0 0.3 r-0.6 r6.4 r3.1 r5.4 r0.7 3.6
II r2.6 4.2 r1.6 r1.3 r-3.1 r-1.3 r7.8 2.1
III r6.3 5.6 r-0.6 r3.4 r0.6 r-2.7 r4.8 0.1
IV r1.9 r0.3 r-1.6 r4.6 r-0.5 r2.6 1.0 r2.0
ANNUAL r1.8 2.3 r0.5 r4.9 r2.3 3.1 r0.1 1.9
---------------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2005 I r2.4 3.8 1.4 r4.8 1.8 r2.4 r4.7 3.3
II 1.4 3.4 2.0 3.9 r1.0 2.5 4.3 3.2
III 2.2 3.8 r1.6 4.0 r0.2 1.7 6.4 3.5
IV 1.7 3.4 r1.6 r3.4 r-0.3 1.6 6.6 3.5
ANNUAL 1.9 3.6 r1.7 4.0 r0.6 2.0 5.5 3.4
2006 I 1.4 3.8 2.4 4.2 0.5 2.8 4.1 3.3
II r1.6 3.6 2.0 3.8 -0.2 2.2 5.7 3.5
III 0.1 2.4 r2.3 2.7 r-0.6 2.6 3.6 3.0
IV 0.9 2.8 r1.9 5.0 3.0 4.1 -0.9 2.2
ANNUAL 1.0 3.2 2.2 3.9 0.6 2.9 3.1 3.0
2007 I r0.6 1.5 r0.9 r4.9 r2.6 4.3 -0.8 2.3
II r0.9 2.0 r1.0 r5.3 r3.0 r4.3 r-1.8 1.9
III r2.9 3.2 r0.3 r5.8 r3.6 r2.8 r-0.5 1.5
IV r2.9 2.6 r-0.3 r3.9 r0.0 r0.9 r3.5 r1.9
ANNUAL r1.8 2.3 r0.5 r4.9 r2.3 3.1 r0.1 1.9
---------------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2008
r=revised Source: Bureau of Labor Statistics
Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
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
2005 I r168.3 142.7 r84.8 r166.2 r123.9 98.7
II r171.1 143.8 r84.0 r168.0 r124.1 r98.2
III r172.7 144.5 r83.7 r170.4 r124.1 r98.7
IV r173.6 147.3 r84.8 r168.7 r121.9 r97.2
ANNUAL r171.4 144.6 r84.3 r168.3 r123.5 r98.2
2006 I r175.2 149.5 r85.3 r172.4 r123.9 r98.4
II r177.4 151.6 r85.4 r170.5 r121.1 r96.1
III r180.8 153.4 r84.8 r171.6 r120.9 r94.9
IV r181.7 152.6 r84.0 r177.4 r125.6 r97.6
ANNUAL r178.7 151.7 r84.9 r173.0 r122.8 r96.8
2007 I r183.0 152.9 r83.6 r181.8 r127.7 r99.3
II r184.5 154.6 r83.8 r181.6 r126.2 r98.4
III r186.4 156.1 r83.7 r181.9 r125.5 r97.6
IV r187.5 r155.4 r82.9 r183.9 r125.3 r98.1
ANNUAL r185.3 r154.7 r83.5 r182.3 r126.2 r98.3
--------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2005 I r4.7 4.6 r-0.1 r1.1 -0.9 r-3.5
II r6.8 3.1 r-3.5 r4.5 r0.5 -2.2
III r3.6 2.1 r-1.5 r5.8 r0.3 2.1
IV r2.3 7.9 r5.5 r-3.9 r-7.1 -6.0
ANNUAL r4.7 3.5 r-1.1 4.2 r0.9 r-0.4
2006 I r3.7 6.0 r2.2 r9.1 r6.9 5.1
II r5.1 5.7 r0.6 r-4.4 r-8.9 -9.1
III r7.9 4.8 r-2.8 r2.7 r-0.5 -4.8
IV r1.9 -2.1 r-3.9 r14.1 r16.5 12.0
ANNUAL r4.3 4.9 r0.6 r2.8 r-0.5 -1.5
2007 I r3.0 0.9 r-2.0 r10.3 r6.8 r7.1
II r3.4 4.4 r1.0 r-0.4 r-4.7 r-3.6
III r4.1 3.9 r-0.2 r0.7 r-2.0 r-3.3
IV r2.3 r-1.7 r-3.9 r4.4 r-0.6 r2.1
ANNUAL r3.7 2.0 r-1.7 r5.4 r2.7 1.6
--------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2005 I r4.2 3.1 r-1.0 6.0 2.9 r1.7
II r4.9 3.4 r-1.5 r5.1 r2.2 r0.2
III 5.2 3.3 r-1.8 r4.2 r0.4 r-1.0
IV 4.4 4.4 0.0 1.8 -1.8 r-2.4
ANNUAL r4.7 3.5 r-1.1 4.2 r0.9 r-0.4
2006 I r4.1 4.7 r0.6 r3.8 r0.0 -0.3
II r3.7 5.4 r1.6 r1.5 r-2.4 -2.1
III r4.7 6.1 r1.3 r0.7 r-2.6 -3.8
IV r4.6 3.6 r-1.0 r5.1 r3.1 0.5
ANNUAL r4.3 4.9 r0.6 r2.8 r-0.5 -1.5
2007 I r4.4 2.3 r-2.1 r5.4 r3.0 0.9
II r4.0 2.0 r-1.9 r6.5 r4.2 2.4
III r3.1 1.8 r-1.3 r6.0 r3.8 r2.8
IV r3.2 r1.9 r-1.3 r3.7 r-0.2 0.5
ANNUAL r3.7 2.0 r-1.7 r5.4 r2.7 1.6
--------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2008
r=revised Source: Bureau of Labor Statistics
Table 4. Durable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
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
2005 I r189.7 169.7 r89.4 r161.3 r120.3 r85.0
II r193.6 171.6 r88.6 r162.7 r120.1 r84.0
III r196.8 174.5 r88.7 r165.5 r120.6 r84.1
IV r200.6 180.5 r90.0 r163.5 r118.1 r81.5
ANNUAL r195.2 174.1 r89.2 r163.3 r119.7 r83.6
2006 I r202.3 182.9 r90.4 r168.1 r120.8 r83.1
II r205.9 187.1 r90.9 r166.1 r117.9 r80.7
III r211.1 189.6 r89.8 r167.3 r117.8 r79.2
IV r212.3 188.9 r89.0 r173.6 r123.0 r81.8
ANNUAL r207.9 187.2 r90.0 r168.7 r119.8 r81.2
2007 I r213.6 188.7 r88.3 r177.6 r124.8 r83.2
II r216.9 192.1 r88.6 r177.5 r123.3 r81.8
III r219.8 195.0 r88.7 r177.5 r122.5 r80.8
IV r222.1 r194.7 r87.7 r179.8 r122.5 r80.9
ANNUAL r218.1 r192.6 r88.3 r178.1 r123.3 r81.7
--------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2005 I r3.8 5.5 r1.7 r0.3 r-1.6 r-3.3
II r8.5 4.7 r-3.5 r3.4 r-0.5 -4.7
III r6.8 6.8 r0.1 r7.2 r1.5 0.4
IV r8.0 14.5 r6.1 r-4.7 r-7.9 -11.7
ANNUAL r5.1 5.0 r-0.1 3.8 0.5 r-1.1
2006 I r3.5 5.5 r2.0 r11.6 r9.4 7.9
II r7.2 9.4 r2.1 r-4.7 r-9.2 r-11.1
III r10.5 5.5 r-4.6 r2.9 r-0.3 -6.9
IV r2.3 -1.4 r-3.6 r16.1 r18.5 13.5
ANNUAL r6.5 7.5 r1.0 r3.4 r0.1 -2.9
2007 I r2.5 -0.5 r-2.9 r9.6 r6.1 6.9
II r6.2 7.3 r1.0 r-0.4 r-4.7 -6.2
III r5.4 6.3 r0.8 r0.1 r-2.6 r-5.1
IV r4.2 r-0.7 r-4.7 5.2 r0.1 r0.9
ANNUAL r4.9 2.9 r-1.9 r5.5 r2.9 0.6
--------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2005 I r2.8 3.0 r0.1 r5.9 r2.8 r3.0
II r4.6 4.0 r-0.5 r4.5 r1.6 r-0.1
III r6.0 5.1 r-0.9 r3.6 r-0.1 r-2.2
IV r6.7 7.8 r1.0 1.5 r-2.2 r-4.9
ANNUAL r5.1 5.0 r-0.1 3.8 0.5 r-1.1
2006 I r6.6 7.8 r1.1 r4.2 r0.5 -2.3
II 6.3 9.0 r2.5 r2.1 r-1.8 -4.0
III r7.3 8.7 r1.3 r1.1 r-2.3 -5.8
IV r5.8 4.7 r-1.1 r6.2 r4.1 0.3
ANNUAL r6.5 7.5 r1.0 r3.4 r0.1 -2.9
2007 I r5.6 3.2 r-2.3 r5.7 r3.3 0.1
II r5.3 2.6 r-2.6 r6.9 r4.6 1.4
III r4.1 2.8 r-1.2 r6.1 r3.9 r1.9
IV r4.6 r3.0 r-1.5 r3.5 r-0.4 -1.0
ANNUAL r4.9 2.9 r-1.9 r5.5 r2.9 0.6
--------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2008
r=revised Source: Bureau of Labor Statistics
Table 5. Nondurable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
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
2005 I r147.4 114.7 r77.8 r173.4 r129.3 r117.6
II r149.2 115.1 r77.1 r176.2 r130.1 r118.1
III r149.7 114.2 r76.3 r177.6 r129.3 r118.6
IV r148.4 114.4 r77.1 r176.4 r127.4 r118.9
ANNUAL r148.7 114.6 r77.1 r175.9 r129.0 r118.3
2006 I r149.8 116.3 r77.6 r178.3 r128.2 119.0
II r151.2 116.8 r77.2 r176.4 r125.3 r116.7
III r152.6 117.9 r77.3 r177.6 r125.1 r116.4
IV r153.1 117.1 r76.4 r181.9 r128.9 r118.8
ANNUAL r151.6 117.0 r77.2 r178.6 r126.8 r117.8
2007 I r154.3 117.8 r76.4 r187.1 r131.5 r121.3
II r154.4 118.2 r76.6 r187.0 r129.9 r121.1
III r155.6 118.6 r76.2 r187.7 r129.5 r120.7
IV r155.4 r117.7 r75.7 r189.1 r128.9 r121.7
ANNUAL r154.9 r118.1 r76.2 r187.7 r130.0 r121.2
--------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2005 I r6.8 3.3 r-3.3 r2.2 r0.2 -4.3
II 4.9 1.3 r-3.5 r6.6 2.5 1.6
III r1.3 -3.0 r-4.3 r3.1 r-2.3 1.7
IV r-3.5 0.8 r4.5 r-2.5 r-5.8 1.0
ANNUAL 4.8 1.9 r-2.8 4.8 1.4 0.0
2006 I 3.9 6.6 r2.6 r4.4 2.3 0.4
II r3.7 1.7 r-1.9 r-4.2 r-8.7 -7.6
III r3.8 4.1 r0.3 r2.7 r-0.5 r-1.1
IV r1.4 -2.9 r-4.3 r10.2 r12.5 8.6
ANNUAL r2.0 2.1 r0.1 r1.5 r-1.7 -0.5
2007 I r3.1 2.6 r-0.5 r11.9 r8.4 r8.6
II r0.2 1.2 r1.1 r-0.4 r-4.8 -0.6
III r3.2 1.3 -1.9 r1.7 r-1.0 r-1.4
IV r-0.5 r-2.9 r-2.4 r3.0 r-1.9 3.5
ANNUAL r2.2 0.9 r-1.2 r5.1 r2.5 r2.9
--------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2005 I r6.4 3.3 r-2.9 r6.0 r2.9 -0.4
II r5.9 2.5 r-3.2 6.1 r3.1 0.2
III r4.8 1.2 r-3.4 r5.0 r1.2 0.1
IV 2.3 0.6 -1.7 2.3 -1.4 0.0
ANNUAL 4.8 1.9 r-2.8 4.8 1.4 0.0
2006 I r1.6 1.4 r-0.2 r2.8 r-0.9 1.2
II r1.3 1.5 r0.1 r0.1 r-3.7 -1.2
III r1.9 3.3 r1.3 r0.0 r-3.3 -1.9
IV r3.2 2.3 r-0.9 r3.1 r1.1 -0.1
ANNUAL r2.0 2.1 r0.1 r1.5 r-1.7 -0.5
2007 I r3.0 1.3 r-1.6 r5.0 r2.6 1.9
II r2.1 1.2 r-0.9 r6.0 r3.7 r3.8
III r2.0 0.5 r-1.4 r5.7 r3.5 r3.7
IV r1.5 r0.5 r-0.9 r4.0 r0.1 r2.5
ANNUAL r2.2 0.9 r-1.2 r5.1 r2.5 r2.9
--------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2008
r=revised Source: Bureau of Labor Statistics
Table 6. Nonfinancial corporate sector: 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(6) (7) (8) (4)
----------------------------------------------------------------------------------------------------------
Indexes 1992=100
2005 I 140.3 164.6 117.3 158.0 117.8 112.6 111.5 112.3 151.9 115.9
II r141.1 166.8 r118.2 r158.5 r117.0 112.3 111.7 112.1 161.7 116.6
III r140.5 166.9 r118.8 r160.8 r117.2 114.4 115.1 114.6 147.5 117.6
IV r141.4 169.2 r119.7 r161.8 r116.9 114.5 112.8 114.0 159.5 118.1
ANNUAL r140.8 166.9 r118.5 r159.8 r117.2 113.5 112.8 113.3 155.2 117.0
2006 I r142.4 171.5 r120.4 r163.8 r117.8 115.0 112.5 114.4 164.4 118.8
II r141.8 171.5 r120.9 r163.9 r116.4 115.6 114.3 115.2 164.8 119.7
III r142.9 173.6 r121.5 r164.6 r115.9 115.2 113.8 114.8 172.6 120.0
IV r143.4 174.6 r121.8 r169.3 r119.9 118.1 114.5 117.1 150.0 120.1
ANNUAL r142.6 172.8 r121.1 r165.4 r117.5 116.0 113.8 115.4 162.9 119.6
2007 I r143.8 175.0 r121.7 r171.4 r120.4 119.2 114.6 118.0 154.3 121.2
II r144.6 176.3 r121.9 r172.4 r119.8 119.3 114.8 118.0 158.2 121.6
III r145.6 r177.9 r122.2 r173.6 r119.8 r119.2 r114.4 r117.9 r153.9 121.2
----------------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2005 I r0.2 0.3 r0.2 r2.6 r0.6 2.4 6.8 3.6 9.8 4.3
II r2.3 5.4 r3.0 1.2 -2.6 -1.0 0.5 -0.6 28.4 2.5
III -1.6 0.4 r2.1 r6.0 0.5 7.8 12.7 9.1 -30.8 3.4
IV r2.5 5.6 r3.0 r2.6 r-0.9 0.0 -7.6 -2.1 36.9 1.8
ANNUAL 1.1 2.7 r1.7 3.8 r0.4 2.7 3.0 2.8 7.0 3.3
2006 I r2.9 5.5 r2.5 r5.0 r3.0 2.0 -1.0 1.2 12.7 2.6
II r-1.7 -0.1 1.7 0.2 r-4.5 2.0 6.4 3.1 1.2 2.9
III 3.1 5.0 1.9 1.6 r-1.6 -1.4 -1.5 -1.5 20.1 1.0
IV r1.4 2.4 r1.0 r12.1 r14.4 10.5 2.2 8.3 -42.9 0.3
ANNUAL 1.3 3.5 2.2 3.5 0.2 2.2 0.9 1.9 5.0 2.2
2007 I r1.2 0.9 r-0.3 r5.1 r1.7 3.8 0.5 2.9 11.8 3.9
II 2.1 2.9 0.8 2.3 r-2.2 0.2 0.5 0.3 10.4 1.4
III r2.9 r3.7 r0.7 r2.8 r0.1 r-0.1 r-1.2 r-0.4 r-10.2 -1.6
----------------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2005 I r2.1 3.3 1.1 r4.7 1.7 2.5 1.8 2.3 12.4 3.4
II 1.6 3.3 1.7 3.7 0.7 2.1 2.1 2.1 10.9 3.1
III r-0.2 1.5 1.7 3.8 r0.0 4.0 5.4 4.3 -2.1 3.6
IV 0.8 2.9 2.1 3.1 -0.6 2.3 2.8 2.4 7.5 3.0
ANNUAL 1.1 2.7 r1.7 3.8 r0.4 2.7 3.0 2.8 7.0 3.3
2006 I 1.5 4.2 2.6 3.7 0.0 2.2 0.9 1.8 8.2 2.6
II 0.5 2.8 2.3 3.4 -0.5 2.9 2.3 2.8 1.9 2.7
III 1.7 4.0 2.3 2.3 -1.0 0.6 -1.1 0.2 17.0 2.1
IV 1.4 3.2 1.8 4.6 2.6 3.2 1.5 2.7 -5.9 1.7
ANNUAL 1.3 3.5 2.2 3.5 0.2 2.2 0.9 1.9 5.0 2.2
2007 I r1.0 2.1 r1.1 r4.6 r2.3 3.6 1.8 3.2 -6.1 2.0
II r1.9 2.8 r0.9 r5.2 r2.9 3.2 0.4 2.4 -4.1 1.6
III 1.9 r2.5 r0.6 r5.5 r3.3 r3.5 r0.5 2.7 r-10.8 1.0
----------------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2008
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. 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 +1.4 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 third quarter of 2007.
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 1978-2006 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
average 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 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
2003 I r125.8 144.4 r114.8 r148.1 r115.8 r117.7 r116.5 117.3
II r128.0 146.0 r114.1 r150.8 r117.8 r117.8 r116.8 117.4
III r130.7 149.7 r114.5 r152.4 r118.4 r116.6 r120.2 118.0
IV r130.3 150.1 r115.1 r153.7 r119.0 r117.9 r119.5 118.5
ANNUAL r128.7 147.5 r114.6 r151.2 r117.7 r117.5 118.3 117.8
2004 I r131.1 151.4 r115.5 r153.9 r118.2 r117.4 r123.0 119.5
II r132.4 153.1 r115.6 r155.7 r118.4 r117.6 r125.4 120.5
III r132.7 154.6 r116.5 r157.8 r119.3 r118.9 r124.7 121.1
IV r133.4 155.7 r116.7 r160.3 r120.1 r120.1 r125.4 122.1
ANNUAL r132.4 153.7 r116.1 r156.9 r119.0 r118.5 r124.6 120.8
---------------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2003 I r3.4 1.1 -2.2 r5.6 r1.9 r2.2 r1.5 1.9
II r7.2 4.6 r-2.4 7.5 7.2 r0.3 r1.0 0.6
III r8.8 10.4 r1.5 r4.5 r2.0 r-3.9 r12.1 1.8
IV r-1.1 1.1 r2.2 r3.2 r2.2 r4.4 r-2.2 1.8
ANNUAL 3.8 3.1 -0.7 4.1 1.7 0.2 3.6 1.5
2004 I 2.4 3.7 1.2 0.6 r-2.8 r-1.7 r12.3 3.4
II 3.9 4.4 r0.4 r4.9 r0.7 r0.9 r8.1 3.6
III r1.1 4.0 r2.9 r5.4 r3.1 r4.3 r-2.2 1.8
IV 2.0 3.0 1.0 r6.4 r2.7 r4.3 r2.1 3.5
ANNUAL 2.9 4.2 1.3 r3.8 1.1 0.9 5.4 2.6
---------------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2003 I 2.4 1.8 -0.6 3.0 0.1 0.6 2.9 1.4
II 3.7 2.4 -1.3 3.7 1.5 0.0 r3.7 1.3
III 4.7 4.0 r-0.6 r4.3 r2.0 -0.4 4.7 1.5
IV r4.5 4.2 r-0.3 r5.2 r3.3 0.7 3.0 1.5
ANNUAL 3.8 3.1 -0.7 4.1 1.7 0.2 3.6 1.5
2004 I 4.2 4.9 r0.6 3.9 r2.1 -0.3 5.6 1.9
II 3.4 4.8 r1.3 3.3 0.5 -0.1 7.4 2.6
III r1.6 3.3 1.7 3.5 r0.8 1.9 3.8 2.6
IV 2.4 3.8 1.4 4.3 0.9 1.9 4.9 3.0
ANNUAL 2.9 4.2 1.3 r3.8 1.1 0.9 5.4 2.6
--------------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2008
r=revised Source: Bureau of Labor Statistics
Appendix table 2.
Nonfarm business sector: Revised 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
2003 I r125.1 144.6 r115.5 147.3 115.2 r117.7 r118.2 117.9
II r127.0 146.1 r115.1 r149.7 r116.9 r117.9 r118.2 118.0
III r130.1 150.0 r115.3 r151.7 r117.8 r116.6 r121.5 118.4
IV r130.0 150.6 r115.9 r153.0 r118.5 r117.7 r120.4 118.7
ANNUAL r128.0 147.8 r115.4 r150.4 r117.1 r117.5 r119.6 118.3
2004 I r130.2 151.5 r116.4 r152.9 r117.4 r117.4 r123.7 119.7
II r131.8 153.4 r116.4 r154.8 r117.7 r117.5 r126.0 120.6
III r132.1 154.9 r117.3 r156.9 r118.6 r118.8 r125.7 121.4
IV r132.2 155.9 r117.9 r158.9 r119.1 r120.2 r126.5 122.5
ANNUAL r131.6 153.9 r117.0 r155.9 r118.2 r118.5 r125.5 121.1
---------------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2003 I 3.4 1.2 -2.1 r5.6 r1.8 r2.1 r1.6 2.0
II r5.9 4.3 r-1.5 6.7 r6.3 r0.7 r-0.1 0.4
III r10.2 11.0 r0.8 5.4 r2.8 r-4.4 r11.6 1.3
IV r-0.4 1.6 r2.0 r3.5 r2.5 r3.9 r-3.3 1.1
ANNUAL 3.7 3.1 -0.6 4.0 1.7 0.3 3.1 1.3
2004 I r0.8 2.6 r1.8 -0.2 -3.6 -1.0 r11.2 3.4
II r4.8 5.0 r0.2 r5.1 r0.9 r0.2 r7.7 3.0
III 0.9 3.8 r2.9 r5.5 r3.1 r4.5 r-0.8 2.4
IV r0.5 2.6 r2.1 r5.3 r1.6 4.7 r2.3 3.8
ANNUAL r2.8 4.1 r1.3 3.6 0.9 0.9 4.9 2.4
---------------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2003 I 2.0 1.5 r-0.5 3.0 0.1 0.9 2.8 1.6
II 3.3 2.2 r-1.1 3.5 1.3 0.2 r3.0 1.2
III r4.7 4.1 -0.6 4.4 2.1 -0.4 4.2 1.3
IV 4.7 4.5 -0.2 r5.3 r3.4 0.5 2.3 1.2
ANNUAL 3.7 3.1 -0.6 4.0 1.7 0.3 3.1 1.3
2004 I r4.1 4.8 0.8 3.8 1.9 r-0.2 4.6 1.6
II 3.8 5.0 1.2 3.4 0.6 r-0.4 6.6 2.2
III 1.5 3.3 r1.7 3.4 r0.7 1.9 3.5 2.5
IV r1.7 3.5 1.7 3.9 0.5 2.1 5.0 3.2
ANNUAL r2.8 4.1 r1.3 3.6 0.9 0.9 4.9 2.4
--------------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2008
r=revised Source: Bureau of Labor Statistics
Appendix table 3.
Manufacturing sector: Revised productivity, hourly compensation, and unit labor costs, seasonally
adjusted
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
2003 I r157.4 137.3 r87.3 r154.6 r120.8 r98.2
II r159.2 136.5 r85.8 r157.3 r122.8 r98.8
III r162.5 137.2 r84.4 r159.5 r123.8 r98.1
IV r161.7 138.0 r85.4 r161.7 r125.2 r100.0
ANNUAL r160.2 137.3 r85.7 r158.2 r123.2 98.8
2004 I r161.6 138.4 r85.7 r156.8 r120.4 r97.0
II r163.1 139.1 r85.3 r159.8 r121.4 r98.0
III r164.1 140.0 r85.3 r163.6 r123.7 r99.7
IV r166.4 141.1 r84.8 r165.7 r124.2 r99.6
ANNUAL r163.8 139.7 r85.3 r161.5 r122.4 r98.6
--------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2003 I r8.8 2.1 r-6.2 r12.4 r8.4 3.3
II 4.7 -2.3 r-6.6 7.2 6.9 2.4
III r8.7 1.9 r-6.3 r5.8 r3.2 -2.7
IV r-2.1 2.6 r4.7 r5.7 r4.7 8.0
ANNUAL 6.2 1.0 -4.9 7.0 4.7 0.8
2004 I r-0.2 1.1 r1.3 r-11.6 r-14.6 r-11.4
II r3.7 2.1 r-1.5 r7.9 r3.6 r4.0
III r2.7 2.4 r-0.3 r9.9 r7.5 r7.0
IV r5.6 3.3 r-2.1 r5.3 r1.6 r-0.3
ANNUAL r2.3 1.8 r-0.5 2.0 -0.6 r-0.2
--------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2003 I r7.1 2.4 r-4.4 r7.0 r4.0 -0.1
II 6.1 0.4 -5.4 6.5 4.3 0.4
III 6.6 0.2 -6.0 r6.8 r4.5 0.3
IV r4.9 1.0 r-3.7 r7.7 5.8 2.7
ANNUAL 6.2 1.0 -4.9 7.0 4.7 0.8
2004 I r2.7 0.8 r-1.8 1.5 -0.4 r-1.2
II r2.4 1.9 r-0.5 1.6 -1.1 r-0.8
III r1.0 2.0 r1.0 2.6 -0.1 r1.6
IV r2.9 2.2 r-0.7 r2.5 -0.9 -0.4
ANNUAL r2.3 1.8 r-0.5 2.0 -0.6 r-0.2
-------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2008
r=revised Source: Bureau of Labor Statistics
Appendix table 4.
Durable manufacturing sector: Revised productivity, hourly compensation, and unit labor costs
seasonally adjusted
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
2003 I r179.1 161.7 r90.3 r153.1 r119.7 r85.5
II r180.9 160.5 r88.7 r155.7 r121.7 86.1
III r186.1 162.2 r87.1 r158.2 r122.8 r85.0
IV r184.8 163.7 r88.6 r160.3 r124.2 r86.8
ANNUAL r182.7 162.0 r88.7 r156.8 r122.1 85.8
2004 I r184.5 164.8 r89.3 r152.4 r117.0 r82.6
II r185.1 165.0 r89.1 r155.6 r118.2 r84.1
III r185.7 166.1 r89.5 r159.7 r120.7 r86.0
IV r188.0 167.4 r89.1 r161.2 r120.7 r85.7
ANNUAL r185.8 165.8 r89.2 r157.2 r119.2 r84.6
--------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2003 I r7.7 1.0 r-6.1 r17.0 r12.8 8.7
II r4.2 -3.0 r-6.9 r7.1 r6.7 2.7
III r11.9 4.2 r-6.9 r6.4 r3.9 -4.9
IV r-2.8 3.9 r6.8 r5.6 r4.5 8.6
ANNUAL 7.1 1.4 -5.3 8.1 5.7 0.9
2004 I r-0.6 2.7 r3.4 r-18.5 r-21.3 r-18.0
II r1.4 0.4 r-1.0 8.8 4.5 r7.3
III r1.2 2.7 r1.5 r10.9 r8.5 r9.6
IV r5.1 3.2 r-1.8 r3.8 r0.2 r-1.2
ANNUAL r1.7 2.3 r0.6 0.2 -2.4 r-1.4
--------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2003 I r8.6 3.2 r-4.9 r8.0 r5.0 -0.5
II r7.0 0.5 -6.1 7.4 r5.1 0.3
III 7.8 0.5 -6.7 r8.2 5.8 0.4
IV r5.1 1.5 -3.5 r8.9 r6.9 3.6
ANNUAL 7.1 1.4 -5.3 8.1 5.7 0.9
2004 I r3.0 1.9 r-1.1 -0.5 -2.3 r-3.4
II r2.3 2.8 r0.5 -0.1 -2.8 r-2.4
III r-0.2 2.4 r2.7 1.0 -1.7 r1.2
IV r1.7 2.3 r0.5 0.5 -2.8 r-1.2
ANNUAL r1.7 2.3 r0.6 0.2 -2.4 r-1.4
-------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2008
r=revised Source: Bureau of Labor Statistics
Appendix table 5.
Nondurable manufacturing sector: Revised productivity, hourly compensation, and unit labor costs
seasonally adjusted
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
2003 I r134.9 111.5 r82.7 r155.8 r121.8 115.5
II r136.6 111.1 r81.3 r158.6 r123.9 r116.2
III r138.1 110.9 r80.3 r160.5 r124.6 116.2
IV r138.0 111.2 r80.5 r162.6 r126.0 r117.8
ANNUAL r136.9 111.1 r81.2 r159.4 r124.0 116.4
2004 I r138.5 111.0 r80.1 r163.7 r125.6 r118.1
II r140.9 112.2 r79.6 r166.1 r126.2 117.9
III r142.8 112.8 r79.0 r169.2 r127.8 118.4
IV r145.0 113.8 r78.5 r172.5 r129.2 r119.0
ANNUAL r141.8 112.4 r79.3 r167.8 r127.2 118.3
--------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2003 I r9.9 3.1 r-6.2 r4.2 r0.4 -5.2
II r5.1 -1.5 r-6.2 r7.5 r7.2 2.3
III r4.6 -0.8 r-5.2 r4.8 r2.3 0.1
IV r-0.2 1.2 r1.3 r5.5 r4.4 r5.6
ANNUAL 4.8 0.4 -4.2 5.1 2.8 0.3
2004 I r1.4 -0.6 r-2.0 r2.5 r-1.0 1.0
II r7.0 4.4 r-2.4 r6.0 r1.8 -0.9
III r5.5 2.1 -3.2 r7.7 r5.3 2.0
IV r6.3 3.5 r-2.6 r8.1 r4.4 1.7
ANNUAL 3.6 1.2 r-2.4 5.3 r2.6 1.6
--------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2003 I 5.0 1.3 r-3.6 5.2 2.3 0.2
II r4.6 0.1 r-4.4 r5.2 2.9 0.5
III r4.6 -0.3 r-4.7 r4.6 r2.3 0.0
IV r4.8 0.5 r-4.1 r5.5 r3.5 0.6
ANNUAL 4.8 0.4 -4.2 5.1 2.8 0.3
2004 I 2.7 -0.4 r-3.1 r5.1 r3.2 2.3
II 3.2 1.0 -2.1 4.7 r1.8 1.4
III 3.4 1.8 -1.6 5.4 2.6 1.9
IV 5.0 2.3 r-2.6 r6.1 r2.6 1.0
ANNUAL 3.6 1.2 r-2.4 5.3 r2.6 1.6
-------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2008
r=revised Source: Bureau of Labor Statistics
Appendix table 6.
Nonfinancial corporate sector: Revised 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(6) (7) (8) (4)
----------------------------------------------------------------------------------------------------------
Indexes 1992=100
2003 I r132.1 152.3 r115.3 r146.3 r114.3 110.7 112.6 111.2 102.9 110.5
II r133.8 153.6 r114.8 r148.8 r116.3 111.2 111.0 111.2 105.7 110.7
III r135.8 155.9 r114.8 r150.8 r117.1 111.0 110.7 110.9 112.8 111.1
IV r136.7 157.5 r115.3 r152.0 r117.7 111.2 110.0 110.9 117.8 111.5
ANNUAL r134.6 154.8 r115.0 r149.5 r116.3 111.0 111.1 111.0 109.9 110.9
2004 I r137.5 159.4 r116.0 r150.9 r115.9 109.8 109.6 109.7 135.2 112.0
II r138.9 161.5 r116.2 r152.8 r116.1 110.0 109.4 109.8 145.8 113.1
III r140.8 164.4 r116.8 r155.0 r117.1 110.1 109.2 109.8 150.6 113.5
IV r140.3 164.5 r117.3 r157.0 r117.6 111.9 109.7 111.3 148.4 114.6
ANNUAL r139.4 162.4 r116.6 r153.9 r116.7 110.5 109.5 110.2 145.1 113.3
----------------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2003 I r1.7 -1.8 r-3.5 r4.1 r0.3 2.3 11.4 4.7 -26.5 1.5
II r5.2 3.6 -1.6 r7.2 6.9 1.9 -5.6 -0.2 11.3 0.7
III r6.2 6.1 r-0.1 r5.3 r2.8 -0.8 -1.2 -0.9 29.4 1.4
IV r2.5 4.3 r1.8 r3.4 r2.3 0.9 -2.5 -0.1 18.9 1.6
ANNUAL 3.8 2.2 -1.5 4.1 1.8 0.3 0.2 0.3 12.1 1.2
2004 I r2.3 4.8 r2.5 r-2.9 r-6.2 -5.0 -1.5 -4.1 73.6 1.8
II r4.4 5.3 r0.8 r5.2 r1.0 0.8 -0.6 0.4 35.4 3.8
III r5.5 7.5 r2.0 r5.7 r3.4 0.3 -0.8 0.0 13.8 1.5
IV r-1.5 0.1 r1.6 5.3 r1.6 6.9 2.0 5.5 -5.7 4.1
ANNUAL 3.5 4.9 r1.3 3.0 0.3 -0.5 -1.4 -0.8 32.0 2.1
----------------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2003 I 3.8 2.0 -1.7 3.3 0.4 -0.5 -0.4 -0.4 20.0 1.0
II 3.5 1.5 -1.9 3.7 1.5 0.2 0.3 0.2 11.9 1.1
III r4.0 2.4 r-1.5 4.4 2.1 0.3 0.6 0.4 12.4 1.4
IV r3.9 3.0 r-0.9 r5.0 r3.1 1.0 0.3 0.8 5.9 1.3
ANNUAL 3.8 2.2 -1.5 4.1 1.8 0.3 0.2 0.3 12.1 1.2
2004 I 4.0 4.7 r0.6 r3.2 1.3 -0.8 -2.7 -1.3 31.3 1.4
II 3.8 5.1 1.2 2.7 -0.1 -1.1 -1.4 -1.2 37.9 2.2
III 3.6 5.5 1.8 r2.8 r0.1 -0.8 -1.4 -1.0 33.5 2.2
IV 2.6 4.4 1.7 3.3 -0.1 0.6 -0.2 0.4 26.0 2.8
ANNUAL 3.5 4.9 r1.3 3.0 0.3 -0.5 -1.4 -0.8 32.0 2.1
---------------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2008
r=revised Source: Bureau of Labor Statistics.
United States Department of Labor
