Transmission of material in this release is embargoed until USDL 26-0365
8:30 a.m. (ET) Thursday, March 5, 2026
Technical information: (202) 691-5606 • Productivity@bls.gov • www.bls.gov/productivity
Media contact: (202) 691-5902 • PressOffice@bls.gov
Productivity and Costs
Fourth Quarter and Annual Averages 2025, Preliminary
Nonfarm business sector labor productivity increased 2.8 percent in the fourth quarter of 2025, the
U.S. Bureau of Labor Statistics reported today, as output increased 2.6 percent and hours worked
decreased 0.2 percent. (All quarterly percent changes in this release are seasonally adjusted annualized
rates.) From fourth quarter 2024 to fourth quarter 2025, nonfarm business sector labor productivity
increased 2.8 percent. (See table A1.) Annual average productivity increased 2.2 percent from 2024 to
2025. (See table C1.)
Unit labor costs in the nonfarm business sector increased 2.8 percent in the fourth quarter of 2025,
reflecting a 5.7-percent increase in hourly compensation and a 2.8-percent increase in productivity. Unit
labor costs increased 1.3 percent over the last four quarters. (See tables A1 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 productivity tend to reduce them.
==========================================================================================================
Historical Revisions to Productivity and Costs Data
Data in this release incorporate the annual benchmark revision of BLS Current Employment Statistics
program data on employment and hours of employees on nonfarm payrolls. Data also include revisions
to employment and hours of all other business sector workers that reflect updated seasonal adjustment of
those data by the BLS Major Sector Productivity program. See Revised measures section.
==========================================================================================================
Real hourly compensation, which takes into account consumer prices, increased 3.1 percent in the fourth
quarter of 2025, and increased 1.3 percent over the last four quarters. The labor share, which is the
percentage of output that accrues to workers in the form of compensation, was 53.8 percent in the fourth
quarter of 2025, the lowest level in the series which begins in the first quarter of 1947.
Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of
hours worked by all workers, including employees, proprietors, and unpaid family workers. During the
current business cycle, starting in the fourth quarter of 2019, labor productivity has grown at an
annualized rate of 2.2 percent, reflecting a 2.6-percent rate of growth in output and a 0.4-percent rate of
growth in hours worked. The 2.2-percent annualized rate of nonfarm business productivity growth in the
current business cycle thus far is higher than the 1.5-percent rate of the previous business cycle, from the
fourth quarter of 2007 through the fourth quarter of 2019, and the same as the long-term rate of 2.2
percent since the first quarter of 1947.
Manufacturing sector labor productivity decreased 1.9 percent in the fourth quarter of 2025, as output
decreased 2.2 percent and hours worked decreased 0.3 percent. In the durable manufacturing sector,
productivity decreased 3.0 percent, reflecting a 2.3-percent decrease in output and a 0.7-percent increase
in hours worked. Nondurable manufacturing sector productivity decreased 0.2 percent, as output
decreased 2.1 percent and hours worked decreased 2.0 percent. Total manufacturing sector productivity
increased 2.3 percent from the same quarter a year ago. (See tables A1, 3, 4, and 5.)
Unit labor costs in the total manufacturing sector increased 8.3 percent in the fourth quarter of 2025,
reflecting a 6.2-percent increase in hourly compensation and a 1.9-percent decrease in productivity. This
is the largest increase in manufacturing unit labor costs since the third quarter of 2022, when the
measure increased 11.4 percent. Manufacturing unit labor costs increased 2.6 percent from the same
quarter a year ago. (See tables A1 and 3.)
Manufacturing sector labor productivity has grown at an annualized rate of 0.4 percent during the
current business cycle, as output is unchanged and hours have declined 0.4 percent. The 0.4-percent
annualized rate of productivity growth in the current business cycle thus far is above the 0.1-percent rate
of the previous business cycle from the fourth quarter of 2007 through the fourth quarter of 2019 and is
below the long-term rate of 2.1 percent since the first quarter of 1987.
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.
Revised measures
Table B1 presents previous and revised productivity and related measures for the business, nonfarm
business, and manufacturing sectors for the third quarter of 2025. Table A2 presents these measures for
the nonfinancial corporate sector.
Quarterly and annual measures of hours worked and related measures—including productivity—were
revised back at least 5 years for all major sectors. The revisions reflect incorporation of revised BLS
Current Employment Statistics (CES) program data for employment and hours of employees on nonfarm
payrolls; the largest revisions were in 2024 and 2025. There were also minor revisions in the business
sectors back to 1990. Revisions to employment and hours worked from 2021 to 2025 in all sectors also
reflect revised seasonal adjustment of hours worked by nonfarm self-employed and unpaid family
workers, all farm workers, and employees of government enterprises. These measures, based on source
data from the BLS Current Population Survey (CPS), are seasonally adjusted by the BLS Major Sector
Productivity program.
Quarterly measures of real hourly compensation in 2025 were revised to reflect updates to seasonally
adjusted data from the BLS Consumer Price Index (CPI) program released on February 13, 2026.
The largest revisions to hours worked and labor productivity were in 2024 and 2025. Hours worked
were revised down in each quarter from the second quarter of 2024 to the third quarter of 2025 while
output was unrevised, resulting in upward revisions to labor productivity. The upward revisions to
productivity through the third quarter, combined with the fourth-quarter increase, resulted in an upward
revision in the growth rate for the current business cycle, from 2.0 percent to 2.2 percent.
Nonfarm business sector productivity in the third quarter of 2025 increased 5.2 percent rather than
the previous estimate of a 4.9-percent increase, reflecting a 0.3-percentage point downward revision to
hours worked; output was not revised. Unit labor costs were revised up 0.1 percentage point to a
decrease of 1.8 percent.
Manufacturing sector productivity was revised down 0.1 percentage point to an increase of 3.6
percent in the third quarter of 2025, reflecting a 0.1-percentage point downward revision to output and
a 0.1-percentage point upward revision to hours worked. Productivity was revised up 0.4 percentage
point to an increase of 5.8 percent in the durable manufacturing sector and revised down 0.8 percentage
point to an increase of 0.5 percent in the nondurable manufacturing sector. (See table B1.)
In the nonfinancial corporate sector, productivity was revised up 0.1 percentage point in the third
quarter of 2025 to an increase of 3.4 percent, as output increased 4.0 percent and hours worked
increased 0.6 percent. This revision reflects a 0.1-percentage point downward revision to hours worked;
output was not revised. Unit labor costs were the same as the preliminary estimate, increasing 0.3
percent in the third quarter of 2025. Unit profits of nonfinancial corporations were the same as the
preliminary estimate, increasing 7.8 percent in the third quarter of 2025 and were unchanged over the
last four quarters. (See tables A2 and 6.)
Annual averages
Table C1 presents annual average changes for the most recent 5 years for the nonfarm business sector
and the total manufacturing sector. Nonfarm business sector productivity increased 2.2 percent in
2025, as output increased 2.6 percent and hours worked increased 0.4 percent. Productivity was revised
up by 0.2 percentage point in 2024, to an increase of 3.0 percent.
Unit labor costs in the nonfarm business sector increased 1.9 percent in 2025, reflecting an increase of
4.1 percent in hourly compensation and an increase of 2.2 percent in productivity. Real hourly
compensation, which takes into account changes in consumer prices, increased 1.4 percent in 2025.
In the manufacturing sector, productivity increased 2.0 percent in 2025, reflecting an increase in
output of 1.1 percent and a decrease in hours worked of 0.9 percent. The 2.0 percent increase in 2025 is
the largest annual increase in manufacturing productivity since 2010, when the measure increased 6.3
percent.
Manufacturing unit labor costs increased 2.3 percent in 2025, as hourly compensation increased 4.3
percent and productivity increased 2.0 percent. The increase in manufacturing unit labor costs was lower
than increases in the previous 3 years, each of which exceeded 4.0 percent. Manufacturing real hourly
compensation increased 1.6 percent in 2025.
Quarterly and annual data for all sectors for recent years appear in tables 1-6. Full historical annual and
quarterly measures, including percent changes, indexes, and levels, can be found in the file located at
www.bls.gov/productivity/tables/labor-productivity-major-sectors.xlsx.
______________
The revised Productivity and Costs news release for fourth-quarter and annual averages 2025 is
scheduled to be released on Tuesday, March 24, 2026, at 8:30 a.m. (ET).
===========================================================================================================
Federal Government Shutdown
Publication of this Productivity and Costs Fourth Quarter and Annual Averages 2025, Preliminary
release was delayed due to a lapse in appropriations. Productivity data is not collected directly; rather,
it is calculated using source data from other BLS programs and government agencies. Once all
required source data became available, data presented in this release were produced.
Subsequent data releases may also be delayed. Revised release dates will be posted at
www.bls.gov/bls/2025-lapse-revised-release-dates.htm as they become available.
===========================================================================================================
=========================================================================================================================
Table A1. Labor productivity growth and related measures – preliminary fourth-quarter 2025
(percent change from previous quarter at annual rate and from same quarter a year ago)
Labor Hours Hourly Real hourly Unit labor
Sector Percent change from: productivity Output worked compensation compensation costs
-------------------------------------------------------------------------------------------------------------------------
Nonfarm business Previous quarter 2.8 2.6 -0.2 5.7 3.1 2.8
A year ago 2.8 3.0 0.2 4.1 1.3 1.3
Business Previous quarter 2.8 2.7 -0.1 5.6 3.0 2.7
A year ago 2.8 3.0 0.2 4.1 1.4 1.3
Manufacturing Previous quarter -1.9 -2.2 -0.3 6.2 3.6 8.3
A Year ago 2.3 1.8 -0.5 5.0 2.2 2.6
Durable Previous quarter -3.0 -2.3 0.7 5.9 3.3 9.1
manufacturing A year ago 3.6 3.4 -0.3 5.4 2.6 1.7
Nondurable Previous quarter -0.2 -2.1 -2.0 6.5 3.9 6.7
manufacturing A year ago 1.0 0.2 -0.8 4.1 1.3 3.0
=========================================================================================================================
=========================================================================================================================
Table A2. Labor productivity growth and related measures – revised and previously published third-quarter 2025
(percent change from previous quarter at annual rate)
Labor Hours Hourly Real hourly Unit labor
Sector productivity Output worked compensation compensation costs
------------------------------------------------------------------------------------------------------------------------
Nonfinancial Revised 3.4 4.0 0.6 3.7 0.6 0.3
corporate Previously published 3.3 4.0 0.7 3.6 0.5 0.3
=========================================================================================================================
=========================================================================================================================
Table B1. Labor productivity growth and related measures – revised and previously published third-quarter 2025
(percent change from previous quarter at annual rate)
Labor Hours Hourly Real hourly Unit labor
Sector productivity Output worked compensation compensation costs
-------------------------------------------------------------------------------------------------------------------------
Nonfarm business Revised 5.2 5.4 0.2 3.3 0.2 -1.8
Previously published 4.9 5.4 0.5 2.9 -0.2 -1.9
Business Revised 5.2 5.5 0.3 3.2 0.1 -1.9
Previously published 5.0 5.5 0.5 2.9 -0.3 -2.1
Manufacturing Revised 3.6 2.9 -0.6 4.8 1.6 1.2
Previously published 3.7 3.0 -0.7 4.8 1.6 1.1
Durable Revised 5.8 3.8 -1.9 5.6 2.4 -0.2
manufacturing Previously published 5.4 3.6 -1.7 5.4 2.2 0.0
Nondurable Revised 0.5 1.9 1.4 3.5 0.4 3.1
manufacturing Previously published 1.3 2.3 1.0 4.0 0.9 2.7
=========================================================================================================================
=========================================================================================================================
Table C1. Labor productivity growth and related measures – annual average changes: 2021-2025
Labor Hours Hourly Real hourly Unit labor
Sector Year productivity Output worked compensation compensation costs
-------------------------------------------------------------------------------------------------------------------------
Nonfarm business 2025 2.2 2.6 0.4 4.1 1.4 1.9
2024 3.0 2.9 0.0 5.5 2.5 2.4
2023 2.0 3.1 1.1 4.0 -0.1 2.0
2022 -1.5 2.5 4.0 3.6 -4.2 5.2
2021 2.1 7.6 5.4 5.0 0.2 2.9
Manufacturing 2025 2.0 1.1 -0.9 4.3 1.6 2.3
2024 0.3 -0.9 -1.2 5.0 2.0 4.7
2023 -0.4 -0.4 0.0 4.1 0.0 4.5
2022 -2.1 1.9 4.1 2.7 -5.0 4.9
2021 1.7 5.0 3.2 2.3 -2.4 0.6
=========================================================================================================================
TECHNICAL NOTES
Labor Hours
Hours worked 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 and
hours paid to wage and salary workers in nonfarm establishments, counting a person who is
employed by two or more establishments at each place of employment. As of the February 3,
2023 Employment Situation release, the CES program has updated the national nonfarm payroll
series to the 2022 North American Industry Classification System (NAICS). The BLS Major
Sector Productivity program will be remaining on a NAICS 2017 basis for the time being by
converting NAICS 2022 data from CES back to a NAICS 2017 basis using ratios published on
the CES website and based on the Quarterly Census of Employment and Wages (QCEW). Hours
of paid time off are removed from hours paid using data from the National Compensation Survey
(NCS) for 1996 forward and data from the BLS Hours at Work survey, conducted for this
purpose, prior to 1990. Between 1990 and 1995, hours of paid time off are removed using a
combination of NCS and Hours at Work survey data. Off-the-clock hours are added, yielding
hours worked, using data from the Current Population Survey (CPS).
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 appropriate 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.
Detailed hours data are presented in the table “Hours Worked in Total U.S. Economy and
Subsectors” on the BLS website (www.bls.gov/productivity/tables/total-economy-hours-
employment.xlsx).
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 households (including owner-occupied housing). Corresponding exclusions also are made in
labor hours worked. Businesses accounted for about 77 percent of the value of nominal GDP in
2025. Nonfarm businesses, which exclude farming, accounted for about 76 percent of nominal
GDP in 2025.
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 Index program and other sources. The industry shipments are aggregated using
annual weights, and intrasectoral 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; 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 51 percent of the value of nominal GDP in 2024.
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 households are subtracted from compensation of
employees in domestic industries 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 2017=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 productivity web site,
https://www.bls.gov/productivity/data.htm, or by contacting the BLS Division of Major Sector
Productivity (Telephone 202-691-5606 or email productivity@bls.gov).
For a more detailed explanation of methods see the Handbook of Methods at
www.bls.gov/opub/hom/opt/.
If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access
telecommunications relay services.
Table 1. Business sector: Labor productivity, hourly compensation, unit labor costs, and prices,
seasonally adjusted.
Value-
Real added
Hourly hourly Unit output
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)
2025 ANNUAL 2.2 2.6 0.3 4.2 1.5 1.9 3.1 2.4
2025 IV 2.8 2.7 -0.1 5.6 3.0 2.7 3.2 2.9
III 5.2 r 5.5 0.3 r 3.2 r 0.1 r -1.9 r 11.2 r 3.9
II 4.5 r 5.1 0.6 r 1.5 r -0.2 -2.9 6.7 1.3
I -1.0 r -1.1 -0.1 r 6.4 r 2.6 r 7.5 -1.2 r 3.5
2024 ANNUAL 3.0 r 3.0 0.0 r 5.4 r 2.4 r 2.4 r 1.5 2.0
2024 IV 1.9 r 1.7 -0.2 r 4.9 r 1.8 r 2.9 1.1 2.1
III 3.2 r 3.8 0.6 r 4.4 r 3.0 r 1.2 r 1.0 1.1
II 3.8 r 4.2 0.3 r 4.7 r 1.9 r 0.9 r 3.5 r 2.1
I 0.5 r 0.4 0.0 r 5.7 r 1.9 r 5.2 r -0.2 r 2.7
2023 ANNUAL 2.1 3.1 1.0 4.1 0.0 2.0 4.9 3.3
2023 IV 4.0 r 3.6 -0.3 r 5.3 2.4 1.3 r 0.6 r 1.0
III 5.0 r 5.3 0.3 r 6.4 2.8 1.4 r 4.7 r 2.9
II 3.5 r 2.7 -0.7 6.1 r 3.0 r 2.5 0.1 1.4
I 1.1 r 3.1 2.0 r 3.3 r -0.4 r 2.1 r 4.6 r 3.2
---------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2025 ANNUAL 2.2 2.6 0.3 4.2 1.5 1.9 3.1 2.4
2025 IV 2.8 3.0 0.2 4.1 1.4 1.3 4.8 2.9
III 2.6 r 2.8 0.2 r 4.0 r 1.1 r 1.3 4.3 r 2.7
II 2.1 r 2.4 0.2 r 4.3 r 1.8 r 2.1 1.8 2.0
I 2.0 r 2.1 0.1 r 5.1 r 2.3 r 3.1 1.1 2.2
2024 ANNUAL 3.0 r 3.0 0.0 r 5.4 r 2.4 r 2.4 r 1.5 2.0
2024 IV 2.3 r 2.5 0.2 r 4.9 r 2.2 r 2.5 1.3 r 2.0
III 2.8 r 3.0 0.1 r 5.0 r 2.3 r 2.1 1.2 1.7
II 3.3 r 3.4 0.1 5.5 r 2.3 r 2.2 2.1 r 2.2
I 3.2 r 3.0 -0.2 r 5.9 2.5 r 2.6 1.3 2.0
2023 ANNUAL 2.1 3.1 1.0 4.1 0.0 2.0 4.9 3.3
2023 IV 3.4 3.7 0.3 5.3 2.0 1.8 2.5 r 2.1
III 3.0 3.5 0.5 4.1 0.5 r 1.1 4.8 2.7
II 1.8 r 2.9 1.1 4.3 r 0.3 2.4 r 3.8 3.1
I 0.3 2.2 1.9 3.0 r -2.6 2.8 8.9 5.5
---------------------------------------------------------------------------------------------------
Indexes 2017=100
2025 ANNUAL 118.1 124.5 105.4 144.7 109.8 122.5 133.5 127.3
2025 IV 120.0 126.4 105.3 147.1 110.5 122.6 136.5 128.7
III 119.2 r 125.5 105.3 r 145.1 r 109.7 r 121.8 r 135.5 r 127.8
II 117.7 r 123.8 105.3 r 144.0 r 109.7 r 122.4 r 131.9 r 126.5
I 116.4 r 122.3 105.1 r 143.5 r 109.7 r 123.3 r 129.8 r 126.1
2024 ANNUAL 115.5 r 121.4 105.1 r 138.9 r 108.2 r 120.2 r 129.5 r 124.3
2024 IV 116.7 r 122.6 105.1 r 141.2 r 109.0 r 121.1 r 130.2 r 125.1
III 116.1 r 122.1 105.2 r 139.6 r 108.6 r 120.2 r 129.9 r 124.4
II 115.2 r 121.0 105.0 r 138.1 r 107.8 r 119.8 r 129.6 r 124.1
I 114.1 r 119.8 104.9 r 136.5 r 107.2 r 119.6 r 128.4 r 123.5
2023 ANNUAL 112.2 r 117.9 105.1 r 131.7 r 105.6 117.4 r 127.6 r 121.9
2023 IV 114.0 r 119.6 104.9 r 134.6 r 106.7 r 118.1 r 128.5 r 122.6
III 112.9 r 118.6 105.0 r 132.9 r 106.1 r 117.7 r 128.3 r 122.3
II 111.5 r 117.1 105.0 r 130.8 r 105.4 r 117.3 r 126.9 r 121.5
I 110.6 r 116.3 105.2 r 128.9 r 104.6 r 116.6 r 126.8 r 121.0
---------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2026
r=revised Source: Bureau of Labor Statistics
Table 2. Nonfarm business sector: Labor productivity, hourly compensation, unit labor costs, and
prices, seasonally adjusted.
Value-
Real added
Hourly hourly Unit output
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)
2025 ANNUAL 2.2 2.6 0.4 4.1 1.4 1.9 3.1 2.4
2025 IV 2.8 2.6 -0.2 5.7 3.1 2.8 3.6 3.1
III 5.2 r 5.4 0.2 r 3.3 r 0.2 r -1.8 r 11.4 r 4.1
II 4.2 r 5.2 1.0 1.2 r -0.5 -2.9 7.8 1.8
I -0.9 r -0.9 0.0 r 6.3 r 2.4 r 7.3 -1.5 3.2
2024 ANNUAL 3.0 r 2.9 0.0 r 5.5 r 2.5 r 2.4 1.6 2.0
2024 IV 1.4 r 1.7 0.3 r 4.3 r 1.2 r 2.9 r 0.3 1.7
III 3.7 r 3.9 0.2 r 4.8 r 3.4 r 1.1 0.6 0.9
II 3.7 r 4.0 0.3 r 4.8 r 2.0 r 1.1 r 3.7 r 2.2
I 0.2 r 0.2 0.0 r 5.8 r 2.0 r 5.5 -0.6 r 2.7
2023 ANNUAL 2.0 3.1 1.1 4.0 r -0.1 2.0 5.5 3.5
2023 IV 3.9 r 3.7 -0.2 r 5.2 2.3 1.2 r 1.5 r 1.3
III 5.0 r 5.5 0.4 r 6.3 2.7 1.2 r 5.5 r 3.1
II 4.0 r 2.9 -1.0 6.5 r 3.4 r 2.4 1.0 r 1.7
I 0.9 r 2.9 2.0 r 3.1 r -0.5 r 2.2 r 5.5 3.7
---------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2025 ANNUAL 2.2 2.6 0.4 4.1 1.4 1.9 3.1 2.4
2025 IV 2.8 3.0 0.2 4.1 1.3 1.3 5.2 3.1
III 2.4 r 2.8 0.4 r 3.8 r 0.8 r 1.3 4.4 2.7
II 2.1 r 2.4 0.4 r 4.1 r 1.6 r 2.0 1.7 r 1.9
I 2.0 r 2.1 0.2 r 5.1 r 2.3 r 3.0 0.7 r 2.0
2024 ANNUAL 3.0 r 2.9 0.0 r 5.5 r 2.5 r 2.4 1.6 2.0
2024 IV 2.3 r 2.4 0.2 r 4.9 r 2.2 r 2.6 1.0 1.9
III 2.9 r 2.9 0.0 r 5.2 r 2.4 r 2.2 1.3 1.8
II 3.2 r 3.3 0.1 r 5.5 r 2.3 r 2.2 2.5 2.3
I 3.3 r 3.1 -0.2 r 5.9 r 2.6 r 2.6 r 1.8 2.2
2023 ANNUAL 2.0 3.1 1.1 4.0 r -0.1 2.0 5.5 3.5
2023 IV 3.5 3.7 0.3 r 5.3 2.0 1.7 r 3.3 2.5
III 3.0 r 3.6 0.5 4.1 0.5 1.0 5.5 3.0
II 1.8 2.9 1.1 4.3 0.3 2.4 r 4.3 3.3
I 0.1 2.2 2.1 2.8 -2.8 2.7 8.9 5.5
---------------------------------------------------------------------------------------------------
Indexes 2017=100
2025 ANNUAL 117.8 124.6 105.8 144.2 109.5 122.4 133.3 127.2
2025 IV 119.6 126.4 105.7 146.6 110.2 122.6 136.6 128.7
III 118.8 r 125.6 105.7 r 144.6 r 109.3 r 121.7 r 135.4 r 127.7
II 117.3 r 124.0 105.7 r 143.4 r 109.3 r 122.3 r 131.8 r 126.4
I 116.1 r 122.4 105.4 r 143.0 r 109.4 r 123.2 r 129.3 r 125.9
2024 ANNUAL 115.3 r 121.5 105.3 r 138.6 r 107.9 r 120.1 r 129.4 r 124.2
2024 IV 116.4 r 122.7 105.4 r 140.9 r 108.7 r 121.0 r 129.8 r 124.9
III 116.0 r 122.2 105.3 r 139.4 r 108.4 r 120.2 r 129.7 r 124.3
II 114.9 r 121.0 105.3 r 137.8 r 107.5 r 119.8 r 129.5 r 124.1
I 113.9 r 119.9 105.2 r 136.1 r 107.0 r 119.5 r 128.4 r 123.4
2023 ANNUAL 112.0 118.0 105.4 131.4 r 105.4 r 117.3 r 127.3 r 121.7
2023 IV 113.8 r 119.8 105.2 r 134.2 r 106.4 r 117.9 r 128.6 r 122.6
III 112.7 r 118.7 105.3 r 132.5 r 105.8 r 117.6 r 128.1 r 122.2
II 111.4 r 117.2 105.2 r 130.5 r 105.1 r 117.2 r 126.4 r 121.2
I 110.3 r 116.3 105.5 r 128.5 r 104.3 r 116.5 r 126.1 r 120.7
---------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2026
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)
2025 ANNUAL 2.0 1.1 -0.9 4.3 1.6 2.3
2025 IV -1.9 -2.2 -0.3 6.2 3.6 8.3
III 3.6 r 2.9 r -0.6 r 4.8 1.6 1.2 r
II 3.2 r 2.9 -0.3 r 4.3 r 2.6 r 1.1
I 4.6 r 3.9 -0.6 r 4.6 r 0.8 r 0.0
2024 ANNUAL 0.3 r -0.9 -1.2 r 5.0 r 2.0 r 4.7
2024 IV 0.0 r -2.1 -2.1 r 2.6 r -0.5 r 2.6 r
III -0.5 r -2.3 -1.9 r 5.0 r 3.5 r 5.5
II 0.9 r 1.1 0.2 r 5.1 r 2.3 r 4.1
I -1.3 r -2.0 -0.7 3.0 -0.7 4.4
2023 ANNUAL -0.4 -0.4 0.0 4.1 0.0 4.5
2023 IV 2.4 r -0.8 -3.2 r 6.9 r 4.0 r 4.3
III -1.0 r -0.6 0.5 r 5.9 r 2.3 r 7.0
II 4.5 r 0.7 -3.6 r 9.2 r 6.0 r 4.4
I 0.0 r 0.4 0.5 r 2.3 r -1.3 r 2.3
---------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2025 ANNUAL 2.0 1.1 -0.9 4.3 1.6 2.3
2025 IV 2.3 1.8 -0.5 5.0 2.2 2.6
III 2.8 r 1.9 -0.9 r 4.1 r 1.1 r 1.2
II 1.8 r 0.5 -1.2 r 4.1 r 1.6 r 2.3
I 1.2 r 0.1 -1.1 r 4.3 r 1.5 r 3.0
2024 ANNUAL 0.3 r -0.9 -1.2 r 5.0 r 2.0 r 4.7
2024 IV -0.2 r -1.4 -1.1 r 3.9 r 1.2 r 4.1
III 0.4 r -1.0 -1.4 r 5.0 r 2.3 r 4.6
II 0.2 r -0.6 -0.8 r 5.2 r 2.0 r 5.0
I 1.1 -0.7 -1.8 r 6.2 2.9 r 5.0
2023 ANNUAL -0.4 -0.4 0.0 4.1 0.0 4.5
2023 IV 1.4 r -0.1 -1.5 6.0 2.7 4.5
III 0.1 -0.6 -0.7 4.2 0.6 4.1
II -0.7 r -0.6 0.1 r 4.4 r 0.4 5.1
I -1.8 -0.4 1.4 2.6 -3.0 4.5
---------------------------------------------------------------------------------------------------
Indexes 2017=100
2025 ANNUAL 99.3 98.6 99.2 134.1 101.8 135.0
2025 IV 99.7 98.7 99.0 136.9 102.9 137.3
III 100.2 r 99.3 r 99.0 r 134.9 r 102.0 r 134.6 r
II 99.4 r 98.6 99.2 r 133.3 r 101.6 r 134.2 r
I 98.6 r 97.9 99.3 r 131.9 r 100.9 r 133.8 r
2024 ANNUAL 97.4 r 97.5 100.1 r 128.5 r 100.1 r 132.0 r
2024 IV 97.5 r 96.9 99.4 r 130.4 r 100.7 r 133.8 r
III 97.5 r 97.4 100.0 r 129.6 r 100.8 r 133.0 r
II 97.6 r 98.0 100.4 r 128.1 r 99.9 r 131.2 r
I 97.4 r 97.8 100.4 r 126.5 r 99.4 r 129.9
2023 ANNUAL 97.1 98.4 101.4 122.4 98.2 126.1
2023 IV 97.7 r 98.3 100.6 r 125.5 r 99.5 r 128.5 r
III 97.1 r 98.5 101.4 r 123.5 r 98.6 r 127.1 r
II 97.4 r 98.6 101.3 r 121.7 r 98.0 r 125.0
I 96.3 r 98.4 102.2 r 119.1 r 96.6 r 123.6 r
---------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2026
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)
2025 ANNUAL 2.7 1.6 -1.2 4.9 2.2 2.1
2025 IV -3.0 -2.3 0.7 5.9 3.3 9.1
III 5.8 r 3.8 r -1.9 r 5.6 r 2.4 r -0.2 r
II 4.3 4.7 0.3 4.6 2.9 0.3
I 7.7 r 7.5 -0.2 r 5.6 r 1.7 r -2.0 r
2024 ANNUAL -0.5 r -2.1 -1.7 r 5.4 r 2.3 r 5.9
2024 IV -2.0 r -4.6 -2.6 r 3.2 r 0.1 r 5.3
III -0.4 r -4.5 -4.1 r 6.7 r 5.2 r 7.1
II -0.1 r 0.3 0.4 r 3.2 r 0.4 r 3.3 r
I -0.2 r -2.4 -2.2 r 4.1 r 0.3 r 4.3
2023 ANNUAL -1.0 -0.2 0.9 4.1 -0.1 5.2
2023 IV 0.2 r -3.4 -3.6 r 8.5 r 5.5 r 8.3 r
III -4.3 r -1.5 3.0 r 4.2 r 0.7 r 9.0
II 6.1 r 1.5 -4.3 r 11.5 r 8.3 r 5.2
I -3.5 r -1.8 1.8 r 2.2 r -1.4 r 5.9 r
---------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2025 ANNUAL 2.7 1.6 -1.2 4.9 2.2 2.1
2025 IV 3.6 3.4 -0.3 5.4 2.6 1.7
III 3.9 r 2.8 r -1.1 r 4.7 r 1.8 r 0.8
II 2.3 r 0.6 -1.7 r 5.0 r 2.5 r 2.6
I 1.2 r -0.4 -1.7 r 4.6 r 1.8 r 3.3
2024 ANNUAL -0.5 r -2.1 -1.7 r 5.4 r 2.3 r 5.9
2024 IV -0.7 r -2.8 -2.1 r 4.3 r 1.5 r 5.0
III -0.1 r -2.5 -2.4 r 5.6 r 2.8 r 5.7
II -1.1 r -1.8 -0.6 5.0 r 1.7 r 6.2
I 0.4 r -1.5 -1.8 7.0 3.7 r 6.7
2023 ANNUAL -1.0 -0.2 0.9 4.1 -0.1 5.2
2023 IV -0.5 -1.3 -0.8 6.6 3.2 7.1
III -1.0 -0.8 0.2 4.0 0.4 5.0
II -0.6 r 0.2 0.8 r 4.4 r 0.4 r 5.1
I -1.4 r 1.2 2.6 2.1 r -3.5 r 3.5
---------------------------------------------------------------------------------------------------
Indexes 2017=100
2025 ANNUAL 98.1 96.9 98.7 134.6 102.1 137.1
2025 IV 98.7 97.2 98.5 137.5 103.3 139.4
III 99.4 r 97.8 r 98.3 r 135.5 r 102.5 r 136.3 r
II 98.0 r 96.9 98.8 r 133.7 r 101.9 r 136.4 r
I 97.0 r 95.8 98.7 r 132.2 r 101.1 r 136.3 r
2024 ANNUAL 95.5 r 95.4 99.9 r 128.3 r 99.9 r 134.3 r
2024 IV 95.2 r 94.0 98.8 r 130.4 r 100.7 r 137.0 r
III 95.7 r 95.1 99.4 r 129.4 r 100.7 r 135.3 r
II 95.8 r 96.2 100.5 r 127.4 r 99.4 r 133.0 r
I 95.8 r 96.2 100.4 r 126.4 r 99.3 r 131.9 r
2023 ANNUAL 96.0 97.5 101.6 121.7 97.6 126.8
2023 IV 95.9 r 96.8 100.9 r 125.1 r 99.2 r 130.5 r
III 95.8 r 97.6 101.9 r 122.6 r 97.9 r 128.0 r
II 96.9 r 98.0 101.1 r 121.3 r 97.7 r 125.2
I 95.5 r 97.6 102.3 r 118.1 r 95.8 r 123.7 r
---------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2026
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)
2025 ANNUAL 1.0 0.5 -0.5 3.2 0.6 2.2
2025 IV -0.2 -2.1 -2.0 6.5 3.9 6.7
III 0.5 r 1.9 r 1.4 r 3.5 r 0.4 r 3.1 r
II 2.3 r 0.9 -1.4 r 3.6 r 1.9 r 1.2
I 1.5 r 0.2 -1.3 r 2.7 r -1.0 r 1.2 r
2024 ANNUAL 0.8 r 0.4 -0.4 r 4.4 r 1.4 r 3.5
2024 IV 1.9 r 0.5 -1.4 r 1.5 r -1.5 r -0.4
III -2.0 r 0.1 2.1 r 2.4 r 1.0 r 4.5
II 2.2 r 2.0 -0.2 r 8.9 r 6.0 r 6.6
I -3.5 r -1.7 1.9 r 1.3 r -2.4 r 4.9
2023 ANNUAL 1.0 -0.5 -1.5 4.0 -0.1 3.0
2023 IV 4.7 r 2.1 -2.4 r 4.0 r 1.2 r -0.6
III 4.2 r 0.5 -3.6 r 8.6 r 4.9 r 4.2
II 2.4 r -0.1 -2.4 r 4.9 r 1.9 r 2.5
I 4.7 2.9 -1.7 r 2.0 r -1.6 r -2.5
---------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2025 ANNUAL 1.0 0.5 -0.5 3.2 0.6 2.2
2025 IV 1.0 0.2 -0.8 4.1 1.3 3.0
III 1.6 r 0.9 r -0.7 r 2.8 r -0.1 r 1.2 r
II 0.9 r 0.4 -0.5 r 2.5 r 0.1 r 1.6
I 0.9 r 0.7 -0.2 r 3.8 r 1.1 r 2.9
2024 ANNUAL 0.8 r 0.4 -0.4 r 4.4 r 1.4 r 3.5
2024 IV -0.4 r 0.2 0.6 r 3.5 r 0.7 r 3.9 r
III 0.3 r 0.6 0.3 r 4.1 r 1.4 r 3.8
II 1.9 r 0.7 -1.1 r 5.7 r 2.4 r 3.7
I 1.9 0.2 -1.7 r 4.7 r 1.4 r 2.7
2023 ANNUAL 1.0 -0.5 -1.5 4.0 -0.1 3.0
2023 IV 4.0 1.3 -2.6 4.9 1.6 0.8
III 2.0 -0.3 -2.3 4.5 0.9 2.4
II -0.1 r -1.3 -1.2 r 4.2 0.2 4.4
I -1.3 -1.8 -0.5 3.2 -2.5 r 4.5
---------------------------------------------------------------------------------------------------
Indexes 2017=100
2025 ANNUAL 99.8 99.9 100.1 133.3 101.2 133.6
2025 IV 100.1 99.8 99.7 136.0 102.2 135.9
III 100.1 r 100.3 r 100.2 r 133.8 r 101.2 r 133.7 r
II 100.0 r 99.9 99.9 r 132.7 r 101.1 r 132.7 r
I 99.4 r 99.6 100.2 r 131.5 r 100.6 r 132.3 r
2024 ANNUAL 98.7 r 99.4 100.6 r 129.1 r 100.6 r 130.8 r
2024 IV 99.0 r 99.6 100.5 r 130.6 r 100.9 r 131.9 r
III 98.6 r 99.5 100.9 r 130.2 r 101.2 r 132.0 r
II 99.1 r 99.4 100.4 r 129.4 r 101.0 r 130.6 r
I 98.5 r 98.9 100.4 r 126.7 r 99.5 r 128.5 r
2023 ANNUAL 97.9 98.9 101.0 123.7 99.2 126.3
2023 IV 99.4 r 99.4 99.9 r 126.3 r 100.1 r 127.0 r
III 98.3 r 98.8 100.6 r 125.0 r 99.8 r 127.2 r
II 97.3 r 98.7 101.5 r 122.5 r 98.6 r 125.9 r
I 96.7 r 98.8 102.1 r 121.0 r 98.2 r 125.1 r
---------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2026
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.
Value-
Real added Unit
Hourly hourly output Unit combined
Year Labor compen- compen- Unit price nonlabor input Unit
and produc- Hours sation sation labor deflator costs costs profits
quarter tivity Output worked (1) (2) costs (4) (6) (7) (8)
---------------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate (5)
2025 III 3.4 r 4.0 0.6 r 3.7 r 0.6 r 0.3 3.3 6.9 2.3 7.8
II 4.9 r 5.8 0.9 r 2.1 r 0.4 r -2.7 -0.3 7.7 0.4 -3.6
I 0.4 r -0.3 -0.7 r 6.7 r 2.8 r 6.3 3.9 5.1 5.9 -5.1
2024 ANNUAL 2.8 r 2.7 -0.1 r 5.5 r 2.5 r 2.6 2.1 1.8 2.4 0.6
2024 IV 5.4 r 5.3 0.0 r 6.6 r 3.4 r 1.2 0.9 -0.1 0.8 1.2
III 2.0 r 1.8 -0.3 r 1.6 r 0.2 r -0.5 0.4 3.2 0.6 -1.0
II -0.8 r 0.0 0.7 r 1.4 r -1.3 r 2.2 3.9 0.5 1.7 15.1
I 3.1 r 2.9 -0.2 r 12.1 r 8.1 r 8.7 2.2 8.1 8.5 -22.0
2023 ANNUAL 0.5 1.8 1.3 4.2 0.1 3.7 3.5 -0.5 2.4 9.0
2023 IV 5.1 r 4.9 -0.1 r 3.7 r 0.8 r -1.3 1.4 -1.7 -1.4 14.8
III 2.8 r 2.9 0.1 r 4.5 r 1.0 r 1.6 2.8 -1.0 0.8 12.6
II 3.3 r 2.6 -0.7 5.9 2.8 r 2.5 1.3 -2.9 0.8 3.7
I -1.7 r 0.4 2.1 r 6.3 r 2.6 r 8.1 6.5 -1.2 5.1 13.4
---------------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2025 III 3.5 r 3.7 0.2 r 4.8 r 1.8 r 1.2 1.9 4.9 2.3 0.0
II 3.1 r 3.1 0.0 r 4.2 r 1.7 r 1.0 1.2 3.9 1.9 -2.1
I 1.7 r 1.7 -0.1 r 4.0 r 1.3 r 2.3 2.2 2.2 2.2 2.3
2024 ANNUAL 2.8 r 2.7 -0.1 r 5.5 r 2.5 r 2.6 2.1 1.8 2.4 0.6
2024 IV 2.4 r 2.5 0.1 r 5.3 r 2.5 r 2.8 1.8 2.9 2.9 -2.6
III 2.3 r 2.4 0.0 r 4.6 r 1.9 r 2.2 2.0 2.5 2.3 0.5
II 2.5 r 2.7 0.1 r 5.3 r 2.1 r 2.7 2.6 1.4 2.3 3.8
I 3.6 3.4 -0.2 r 6.5 3.1 r 2.8 1.9 0.5 2.1 1.1
2023 ANNUAL 0.5 1.8 1.3 4.2 0.1 3.7 3.5 -0.5 2.4 9.0
2023 IV 2.4 2.7 0.3 5.1 1.8 2.7 3.0 -1.7 1.3 11.0
III 0.6 r 1.2 0.6 4.1 0.5 r 3.5 2.8 -1.1 2.0 6.8
II 0.3 1.8 1.5 r 4.5 r 0.5 4.2 3.0 -1.1 2.5 5.1
I -1.1 1.3 2.4 3.5 -2.2 r 4.6 5.4 2.1 3.8 13.2
---------------------------------------------------------------------------------------------------------
Indexes 2017=100
2025 III 118.7 r 125.8 106.0 r 146.0 r 110.4 r 123.0 127.8 117.0 121.1 173.6
II 117.7 r 124.5 105.8 r 144.7 r 110.2 r 122.9 126.8 115.1 120.4 170.4
I 116.3 r 122.8 105.6 r 143.9 r 110.1 r 123.8 126.9 113.0 120.2 171.9
2024 ANNUAL 114.8 r 121.4 105.7 r 139.6 r 108.7 r 121.5 125.2 111.1 118.1 172.5
2024 IV 116.2 r 122.9 105.8 r 141.6 r 109.3 r 121.9 125.7 111.6 118.5 174.2
III 114.7 r 121.3 105.8 r 139.4 r 108.4 r 121.5 125.4 111.6 118.3 173.7
II 114.1 r 120.8 105.8 r 138.8 r 108.3 r 121.7 125.3 110.7 118.1 174.1
I 114.3 r 120.8 105.6 r 138.3 r 108.7 r 121.0 124.1 110.6 117.6 168.1
2023 ANNUAL 111.7 118.2 105.8 132.3 106.1 118.4 122.6 109.1 115.4 171.5
2023 IV 113.5 r 119.9 105.7 r 134.5 r 106.6 r 118.5 123.5 108.5 115.2 178.8
III 112.1 r 118.5 105.7 r 133.3 r 106.4 r 118.9 123.0 108.9 115.6 172.8
II 111.3 r 117.6 105.7 r 131.8 r 106.1 r 118.4 122.2 109.2 115.4 167.8
I 110.4 r 116.8 105.9 r 129.9 r 105.4 r 117.7 121.8 110.0 115.2 166.2
---------------------------------------------------------------------------------------------------------
See footnotes following Table 6. March 5, 2026
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.
SIZE OF REVISIONS: Productivity and cost measures are revised on a regular schedule as
more complete data become available. The first estimate is published within 40 days of the close
of the reference quarter, the second estimate approximately 30 days later, and the third estimate
approximately 60 days after the second estimate. Based on past revisions, the third estimate of
nonfarm business sector quarterly labor productivity growth has differed from the first estimate
by -1.0 to +1.4 percentage point about 80 percent of the time. This interval is based on estimates
for reference quarters from the first quarter of 2001 to the third quarter of 2025. For more about
revisions to labor productivity growth see “Revisions to BLS quarterly labor productivity
estimates: How large are they?” at www.bls.gov/opub/mlr/2022/article/revisions-to-bls-
quarterly-labor-productivity-estimates-how-large-are-they.htm.
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 1978-2024 is based on the Consumer Price Index Retroactive 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 adjustment.
United States Department of Labor
