Transmission of material in this release is embargoed until USDL-11-1690
8:30 a.m. (EST) Wednesday, November 30, 2011
Technical information: (202) 691-5606 dprweb@bls.gov www.bls.gov/lpc
Media contact: (202) 691-5902 PressOffice@bls.gov
PRODUCTIVITY AND COSTS
Third Quarter 2011, Revised
Nonfarm business sector labor productivity increased at a 2.3 percent
annual rate during the third quarter of 2011, the U.S. Bureau of Labor
Statistics reported today, with output and hours worked rising 3.2 percent
and 0.8 percent, respectively. (All quarterly percent changes in this
release are seasonally adjusted annual rates.) From the third quarter of
2010 to the third quarter of 2011, output increased 2.4 percent as hours
rose 1.4 percent, resulting in a 0.9 percent increase in productivity.
(See tables A and 2.) Labor productivity, or output per hour, is calculated by
dividing an index of real output by an index of hours worked of all
persons, including employees, proprietors, and unpaid family workers.
The productivity measures released today are based on more recent and more
complete data than were available for the preliminary report issued
November 3. (See Revised measures.)
Unit labor costs in nonfarm businesses fell 2.5 percent in the third
quarter of 2011, reflecting the 2.3 percent increase in output per hour
combined with a 0.2 percent decline in hourly compensation. Unit labor
costs rose 0.4 percent over the last four quarters. (See tables A and 2.) BLS
defines unit labor costs as the ratio of hourly compensation to labor
productivity; increases in hourly compensation tend to increase unit labor
costs and increases in output per hour tend to reduce them.
Nonfarm business real hourly compensation decreased 3.2 percent in the
third quarter of 2011, reflecting a 0.2 percent decline in hourly
compensation combined with a 3.1 percent increase in consumer prices
(seasonally adjusted annual rates). Real hourly compensation is the ratio
of hourly compensation to consumer prices. This measure declined 2.3
percent from the same quarter a year ago; this is the largest decline in
this series which begins in 1948.
Manufacturing sector productivity grew 5.0 percent in the third quarter of
2011, as output rose 4.6 percent and hours decreased 0.4 percent.
Productivity jumped 9.5 percent in the durable goods sector and edged up
0.1 percent in the nondurable goods sector. (See tables A, 3, 4, and 5.)
From the third quarter of 2010 to the third quarter of 2011, manufacturing
sector productivity increased 2.9 percent. Unit labor costs in
manufacturing fell 5.1 percent in the third quarter of 2011 and decreased
1.9 percent over the last four quarters.
The data sources and methods used in the preparation of the
manufacturing output series differ from those used in preparing the
business and nonfarm business output series, and these measures are not
directly comparable. See Technical Notes for further information on
data sources.
Third quarter data for the nonfinancial corporate sector was released
today. Output per hour decreased 2.6 percent as output declined 0.8
percent and hours grew 1.9 percent. Unit labor costs rose 3.0 percent.
(See table C.)
Revised measures
Previous and revised productivity and related measures for the second and
third quarters for the nonfarm business, business, and manufacturing
sectors and for the second quarter for nonfinancial corporations are
presented in tables B and C, respectively.
In the third quarter of 2011, nonfarm business sector productivity growth
was 2.3 percent reflecting a downward revision to output combined with a
slight upward revision to hours worked. Unit labor costs were little
changed, as the downward revision to productivity was offset by a downward
revision to hourly compensation. In the manufacturing sector, productivity
growth was 5.0 percent rather than 5.4 percent as previously reported.
Unit labor costs declined 5.1 percent.
In the second quarter of 2011, nonfarm business sector productivity,
output, and hours were unrevised. Unit labor costs fell 0.1 percent rather
than increasing 2.8 percent due solely to a downward revision to hourly
compensation. Manufacturing sector productivity declined 2.2 percent in
the second quarter, slightly less than reported November 3. Unit labor
costs increased 0.1 percent, much less than the 5.5 percent preliminary
estimate, due to a steep downward revision to hourly compensation and the
slight upward revision to productivity. The large downward revision to
manufacturing hourly compensation was concentrated in durable goods
manufacturing industries.
Nonfinancial corporate sector productivity grew 3.2 percent in the second
quarter of 2011, as revised. (See tables C and 6.)
__________
The preliminary Productivity and Costs press release for the fourth quarter
of 2011 is scheduled to be released on Thursday, February 2, 2012 at
8:30 a.m. (EST)
======================================================================================================
Table A. Revised third-quarter 2011 measures: percent change from previous quarter at annual rate
(Q to Q) and from same quarter a year ago (Y to Y)
Sector Nonfarm Durable Nondurable
Business Business Manufacturing Manufacturing Manufacturing
Q to Q Y to Y Q to Q Y to Y Q to Q Y to Y Q to Q Y to Y Q to Q Y to Y
------------------------------------------------------------------------------------------------------
Productivity 2.3 0.9 1.9 0.6 5.0 2.9 9.5 4.5 0.1 2.2
Output 3.2 2.4 3.0 2.0 4.6 4.1 8.3 7.3 1.0 1.0
Hours 0.8 1.4 1.0 1.5 -0.4 1.2 -1.1 2.6 0.9 -1.2
Hourly
compensation -0.2 1.4 -0.5 1.3 -0.4 0.9 0.2 0.4 -1.3 1.6
Real hourly
compensation -3.2 -2.3 -3.5 -2.4 -3.4 -2.7 -2.8 -3.3 -4.2 -2.1
Unit labor
costs -2.5 0.4 -2.4 0.7 -5.1 -1.9 -8.5 -4.0 -1.4 -0.6
======================================================================================================
Table B. Revised and previous measures: third quarter and second quarter 2011
Sector Nonfarm Durable Nondurable
Business Business Manufacturing Manufacturing Manufacturing
Revised Previous Revised Previous Revised Previous Revised Previous Revised Previous
------------------------------------------------------------------------------------------------------
Percent change, annual rate, third quarter 2011
Productivity 2.3 3.1 1.9 2.8 5.0 5.4 9.5 9.9 0.1 0.7
Output 3.2 3.8 3.0 3.6 4.6 4.7 8.3 8.3 1.0 1.0
Hours 0.8 0.6 1.0 0.8 -0.4 -0.8 -1.1 -1.4 0.9 0.4
Hourly
compensation -0.2 0.6 -0.5 0.3 -0.4 0.6 0.2 1.7 -1.3 -1.4
Real hourly
compensation -3.2 -2.4 -3.5 -2.7 -3.4 -2.4 -2.8 -1.3 -4.2 -4.3
Unit labor
costs -2.5 -2.4 -2.4 -2.4 -5.1 -4.6 -8.5 -7.4 -1.4 -2.1
------------------------------------------------------------------------------------------------------
Percent change, annual rate, second quarter 2011
Productivity -0.1 -0.1 0.1 0.1 -2.2 -2.3 -3.1 -3.2 0.0 -0.1
Output 1.8 1.8 1.7 1.7 0.4 0.4 1.8 1.7 -0.9 -1.0
Hours 2.0 2.0 1.6 1.6 2.7 2.7 5.0 5.0 -0.9 -0.9
Hourly
compensation -0.2 2.7 0.2 3.1 -2.1 3.0 -4.9 2.3 2.8 3.9
Real hourly
compensation -4.1 -1.3 -3.8 -1.0 -6.0 -1.0 -8.6 -1.7 -1.2 -0.2
Unit labor
costs -0.1 2.8 0.1 3.0 0.1 5.5 -1.9 5.7 2.8 4.0
======================================================================================================
Table C. Nonfinancial corporations: preliminary third quarter and revised second quarter 2011
Real
Hourly hourly Unit Implicit
Produc- compen- compen- labor Unit price
tivity Output Hours sation sation costs profits deflator
------------------------------------------------------------------------------------------------------
Percent change, annual rate, third quarter 2011
Q to Q -2.6 -0.8 1.9 0.3 -2.6 3.0 7.5 3.7
Y to Y -0.1 2.1 2.2 1.3 -2.4 1.4 9.3 2.4
Percent change, annual rate, second quarter 2011
Revised 3.2 6.1 2.9 0.8 -3.2 -2.3 28.9 1.8
Previous 4.2 7.3 2.9 2.5 -1.5 -1.7 27.5 1.8
======================================================================================================
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 a chain-type, current-weighted index
constructed after excluding from gross domestic product (GDP) the following
outputs: general government, nonprofit institutions, and private households
(including owner-occupied housing). Corresponding exclusions also are made in
labor inputs. Business output accounted for about 75 percent of the value of
GDP in 2010. Nonfarm business, which excludes farming, accounted for about 74
percent of GDP in 2010.
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 manufacturing; 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 a chain-type, current-weighted index
calculated on the basis of the costs incurred and the incomes earned from
production. The output measure excludes the following outputs from GDP:
general government; nonprofit institutions; private households; unincorporated
business; and those corporations classified as offices of bank holding
companies, offices of other holding companies, or offices in the finance and
insurance sector. Nonfinancial corporations accounted for about 48 percent of
the value of GDP in 2010.
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: The measure includes accrued wages and salaries,
supplements, employer contributions to employee benefit plans, and taxes.
Estimates of labor compensation by major sector, required for measures of
hourly compensation and unit labor costs, are based primarily on employee
compensation data from the NIPA, prepared by the BEA. The compensation of
employees in general government, nonprofit institutions and private households
are subtracted from compensation of domestic employees to derive employee
compensation for the business sector. The labor compensation of proprietors
cannot be explicitly identified and must be estimated. This is done by
assuming that proprietors have the same hourly compensation as employees in
the same sector. The quarterly labor productivity and cost measures do not
contain estimates of compensation for unpaid family workers.
Unit Labor Costs: 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 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 2005=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. These index numbers are available at the BLS web site,
www.bls.gov/data/home.htm, or by contacting the BLS Division of Major Sector
Productivity. (Telephone 202-691-5606 or email DPRWEB@BLS.GOV)
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
Output Compen- compen- Unit Implicit
Year per hour Hours sation sation Unit nonlabor price
and of all of all per hour per hour labor payments deflator
quarter persons Output persons (1) (2) costs (3) (4)
---------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2011 III 1.9 r 3.0 r 1.0 r -0.5 r -3.5 r -2.4 9.5 r 2.5 r
II 0.1 1.7 1.6 0.2 r -3.8 r 0.1 r 6.8 r 2.9
I -1.4 0.3 1.7 5.4 0.1 6.8 -2.2 2.9
2010 ANNUAL 4.1 3.9 -0.1 2.0 0.4 -2.0 6.1 1.3
2010 IV 1.7 3.2 1.5 0.4 -2.2 -1.3 7.3 2.2
III 2.5 3.7 1.2 2.2 0.7 -0.3 3.2 1.1
II 1.1 4.7 3.6 2.4 2.9 1.2 2.8 1.9
I 4.3 5.1 0.8 1.2 0.0 -2.9 9.0 1.8
2009 ANNUAL 2.4 -4.9 -7.1 1.6 2.0 -0.8 3.1 0.7
2009 IV 5.3 5.0 -0.3 1.2 -1.6 -3.9 9.0 1.1
III 7.0 1.8 -4.9 2.7 -0.9 -4.0 7.3 0.3
II 8.0 -1.0 -8.4 6.6 4.6 -1.3 -1.0 -1.2
I 1.5 -8.5 -9.8 -2.7 -0.4 -4.1 10.5 1.4
---------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2011 III 0.6 r 2.0 r 1.5 r 1.3 r -2.4 r 0.7 r 5.2 r 2.6
II 0.7 2.2 1.5 2.0 r -1.3 r 1.3 r 3.7 r 2.3
I 1.0 3.0 2.0 2.6 0.4 1.6 2.7 2.0
2010 ANNUAL 4.1 3.9 -0.1 2.0 0.4 -2.0 6.1 1.3
2010 IV 2.4 4.2 1.8 1.5 0.3 -0.8 5.5 1.8
III 3.3 4.6 1.3 1.7 0.5 -1.5 6.0 1.5
II 4.4 4.1 -0.3 1.9 0.1 -2.4 7.0 1.3
I 6.2 2.7 -3.3 2.9 0.5 -3.1 6.0 0.5
2009 ANNUAL 2.4 -4.9 -7.1 1.6 2.0 -0.8 3.1 0.7
2009 IV 5.4 -0.8 -5.9 1.9 0.4 -3.3 6.3 0.4
III 3.3 -5.1 -8.1 2.0 3.7 -1.2 1.8 0.0
II 1.3 -6.8 -8.0 2.2 3.2 0.9 0.5 0.8
I -0.1 -6.5 -6.4 0.3 0.5 0.4 4.0 1.8
---------------------------------------------------------------------------------------------------
Indexes 2005=100
2011 III 110.9 r 105.2 r 94.8 r 117.8 r 101.6 r 106.2 r 122.5 r 112.6 r
II 110.4 104.4 94.6 117.9 r 102.5 r 106.8 r 119.8 r 111.9
I 110.4 104.0 94.2 117.9 103.5 106.8 117.8 111.2
2010 ANNUAL 110.0 102.5 93.2 115.8 103.6 105.3 116.3 109.6
2010 IV 110.7 103.9 93.8 116.3 103.5 105.0 118.5 110.4
III 110.3 103.1 93.5 116.2 104.1 105.4 116.4 109.7
II 109.6 102.1 93.2 115.6 103.9 105.5 115.5 109.4
I 109.3 101.0 92.4 114.9 103.1 105.1 114.7 108.9
2009 ANNUAL 105.7 98.7 93.4 113.5 103.3 107.4 109.6 108.3
2009 IV 108.2 99.7 92.2 114.6 103.1 105.9 112.3 108.4
III 106.8 98.5 92.3 114.2 103.5 107.0 109.9 108.1
II 105.0 98.1 93.4 113.5 103.8 108.1 108.0 108.1
I 103.0 98.3 95.5 111.7 102.6 108.5 108.2 108.4
---------------------------------------------------------------------------------------------------
See footnotes following Table 6. November 30, 2011
r=revised Source: Bureau of Labor Statistics
Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor costs, and prices,
seasonally adjusted
Real
Output Compen- compen- Unit Implicit
Year per hour Hours sation sation Unit nonlabor price
and of all of all per hour per hour labor payments deflator
quarter persons Output persons (1) (2) costs (3) (4)
---------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2011 III 2.3 r 3.2 r 0.8 r -0.2 r -3.2 r -2.5 r 9.3 r 2.3 r
II -0.1 1.8 2.0 -0.2 r -4.1 r -0.1 r 6.7 r 2.7
I -0.6 0.9 1.5 5.6 0.3 6.2 -3.1 2.2
2010 ANNUAL 4.1 4.0 -0.1 2.1 0.4 -2.0 5.7 1.1
2010 IV 2.2 3.8 1.5 0.6 -2.1 -1.6 6.4 1.7
III 2.1 3.5 1.4 1.9 0.4 -0.2 2.0 0.7
II 1.2 4.6 3.4 2.6 3.1 1.4 3.0 2.0
I 4.6 5.2 0.5 1.4 0.2 -3.1 8.8 1.6
2009 ANNUAL 2.3 -5.1 -7.2 1.6 2.0 -0.7 3.8 1.1
2009 IV 5.5 5.6 0.1 1.2 -1.5 -4.1 7.7 0.5
III 6.5 1.4 -4.8 2.3 -1.3 -3.9 8.1 0.6
II 8.0 -1.1 -8.4 6.7 4.7 -1.2 -1.3 -1.2
I 1.3 -8.7 -9.9 -2.7 -0.4 -4.0 12.1 2.0
---------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2011 III 0.9 r 2.4 r 1.4 1.4 r -2.3 r 0.4 r 4.7 r 2.2
II 0.9 2.5 1.6 1.9 r -1.4 r 1.0 r 2.9 r 1.8
I 1.2 3.2 1.9 2.6 0.4 1.4 2.0 1.7
2010 ANNUAL 4.1 4.0 -0.1 2.1 0.4 -2.0 5.7 1.1
2010 IV 2.5 4.3 1.7 1.6 0.4 -0.9 5.0 1.5
III 3.3 4.7 1.3 1.8 0.5 -1.5 5.3 1.2
II 4.4 4.2 -0.3 1.9 0.1 -2.5 6.9 1.2
I 6.2 2.7 -3.2 2.9 0.5 -3.1 5.7 0.4
2009 ANNUAL 2.3 -5.1 -7.2 1.6 2.0 -0.7 3.8 1.1
2009 IV 5.3 -0.9 -5.9 1.8 0.3 -3.3 6.5 0.5
III 3.0 -5.5 -8.2 2.1 3.7 -0.9 2.5 0.4
II 1.2 -7.1 -8.2 2.4 3.4 1.1 1.2 1.2
I -0.2 -6.7 -6.5 0.4 0.5 0.5 5.0 2.2
---------------------------------------------------------------------------------------------------
Indexes 2005=100
2011 III 111.1 r 105.3 r 94.8 r 117.8 r 101.7 r 106.0 r 121.6 r 112.2 r
II 110.5 104.5 94.6 117.9 r 102.5 r 106.7 r 118.9 r 111.5
I 110.5 104.0 94.2 117.9 103.6 106.7 117.0 110.8
2010 ANNUAL 109.8 102.4 93.2 115.8 103.7 105.4 116.1 109.6
2010 IV 110.7 103.8 93.8 116.3 103.5 105.1 118.0 110.2
III 110.1 102.9 93.5 116.2 104.0 105.6 116.1 109.7
II 109.5 102.0 93.1 115.6 103.9 105.6 115.6 109.5
I 109.2 100.8 92.4 114.9 103.1 105.3 114.7 109.0
2009 ANNUAL 105.5 98.5 93.3 113.4 103.3 107.5 109.8 108.4
2009 IV 107.9 99.6 92.2 114.5 103.1 106.1 112.3 108.5
III 106.5 98.2 92.2 114.2 103.5 107.2 110.3 108.4
II 104.8 97.9 93.4 113.5 103.8 108.3 108.1 108.2
I 102.8 98.2 95.5 111.7 102.6 108.6 108.5 108.6
---------------------------------------------------------------------------------------------------
See footnotes following Table 6. November 30, 2011
r=revised Source: Bureau of Labor Statistics
Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
Real
Output Compen- compen-
Year per hour Hours sation sation Unit
and of all of all per hour per hour labor
quarter persons Output persons (1) (2) costs
---------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2011 III 5.0 r 4.6 r -0.4 r -0.4 r -3.4 r -5.1 r
II -2.2 r 0.4 2.7 -2.1 r -6.0 r 0.1 r
I 4.2 7.8 3.4 4.1 -1.2 -0.2
2010 ANNUAL 6.1 6.0 0.0 1.6 0.0 -4.2
2010 IV 4.9 3.8 -1.0 2.3 -0.4 -2.5
III 2.1 5.6 3.4 1.7 0.2 -0.5
II 5.2 9.2 3.8 3.8 4.3 -1.3
I 4.7 7.8 3.0 -2.7 -3.9 -7.1
2009 ANNUAL 0.5 -12.5 -13.0 4.5 4.9 4.0
2009 IV 7.3 6.5 -0.8 3.1 0.3 -3.9
III 13.1 7.5 -4.9 1.4 -2.2 -10.3
II 6.3 -10.1 -15.4 7.9 5.9 1.5
I -1.4 -21.1 -20.0 0.5 2.9 1.9
---------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2011 III 2.9 r 4.1 1.2 r 0.9 r -2.7 r -1.9 r
II 2.2 4.4 2.1 1.4 r -1.9 r -0.8 r
I 4.1 6.6 2.4 2.9 0.7 -1.1
2010 ANNUAL 6.1 6.0 0.0 1.6 0.0 -4.2
2010 IV 4.2 6.6 2.3 1.2 0.0 -2.9
III 4.8 7.3 2.3 1.4 0.2 -3.2
II 7.5 7.7 0.2 1.4 -0.4 -5.7
I 7.8 2.6 -4.8 2.4 0.0 -5.0
2009 ANNUAL 0.5 -12.5 -13.0 4.5 4.9 4.0
2009 IV 6.2 -5.1 -10.6 3.2 1.7 -2.8
III 2.7 -11.9 -14.2 4.8 6.6 2.0
II -1.7 -16.5 -15.1 5.8 6.9 7.6
I -4.8 -16.0 -11.8 4.0 4.2 9.2
---------------------------------------------------------------------------------------------------
Indexes 2005=100
2011 III 114.8 r 96.8 r 84.3 r 118.1 r 101.9 r 102.8 r
II 113.4 r 95.7 r 84.4 118.2 r 102.7 r 104.2 r
I 114.1 95.6 83.8 118.8 104.3 104.1
2010 ANNUAL 111.3 92.0 82.7 116.6 104.4 104.8
2010 IV 112.9 93.8 83.1 117.6 104.6 104.2
III 111.6 92.9 83.3 117.0 104.7 104.8
II 111.0 91.7 82.6 116.5 104.7 105.0
I 109.6 89.7 81.8 115.4 103.6 105.3
2009 ANNUAL 104.9 86.8 82.7 114.8 104.5 109.4
2009 IV 108.3 88.0 81.2 116.2 104.6 107.3
III 106.5 86.7 81.4 115.3 104.5 108.3
II 103.2 85.1 82.4 114.9 105.1 111.3
I 101.7 87.4 86.0 112.8 103.6 110.9
---------------------------------------------------------------------------------------------------
See footnotes following Table 6. November 30, 2011
r=revised Source: Bureau of Labor Statistics
Table 4. Durable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
Real
Output Compen- compen-
Year per hour Hours sation sation Unit
and of all of all per hour per hour labor
quarter persons Output persons (1) (2) costs
---------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2011 III 9.5 r 8.3 -1.1 r 0.2 r -2.8 r -8.5 r
II -3.1 r 1.8 r 5.0 -4.9 r -8.6 r -1.9 r
I 6.9 13.7 6.4 4.4 -0.8 -2.3
2010 ANNUAL 7.7 7.6 -0.1 2.1 0.4 -5.2
2010 IV 5.3 5.7 0.4 2.2 -0.5 -3.0
III 1.7 8.3 6.5 -0.8 -2.2 -2.5
II 11.3 14.5 2.8 7.1 7.7 -3.7
I 6.2 10.2 3.8 -3.1 -4.3 -8.7
2009 ANNUAL -4.6 -19.3 -15.5 5.7 6.1 10.8
2009 IV 6.3 5.9 -0.4 3.8 1.0 -2.3
III 18.2 10.3 -6.6 1.0 -2.6 -14.5
II 2.1 -18.8 -20.5 11.6 9.5 9.3
I -10.0 -31.2 -23.6 3.1 5.5 14.6
---------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2011 III 4.5 r 7.3 2.6 r 0.4 r -3.3 r -4.0 r
II 2.6 7.3 4.5 0.2 r -3.1 r -2.4 r
I 6.2 10.5 4.0 3.2 1.0 -2.9
2010 ANNUAL 7.7 7.6 -0.1 2.1 0.4 -5.2
2010 IV 6.1 9.6 3.4 1.3 0.1 -4.5
III 6.3 9.7 3.2 1.7 0.4 -4.4
II 10.4 10.2 -0.2 2.1 0.3 -7.5
I 8.0 1.1 -6.4 3.2 0.8 -4.5
2009 ANNUAL -4.6 -19.3 -15.5 5.7 6.1 10.8
2009 IV 3.6 -10.1 -13.3 4.8 3.3 1.1
III -2.5 -18.9 -16.8 5.9 7.7 8.7
II -7.8 -24.4 -18.0 7.4 8.4 16.4
I -10.5 -22.5 -13.4 4.6 4.8 16.9
---------------------------------------------------------------------------------------------------
Indexes 2005=100
2011 III 114.5 r 95.1 r 83.0 r 118.8 r 102.5 r 103.7 r
II 112.0 r 93.2 r 83.2 118.7 r 103.2 r 106.0 r
I 112.9 92.8 82.2 120.2 105.6 106.5
2010 ANNUAL 109.0 87.3 80.1 118.1 105.7 108.3
2010 IV 111.0 89.8 80.9 118.9 105.8 107.1
III 109.6 88.6 80.9 118.3 105.9 108.0
II 109.1 86.9 79.6 118.5 106.5 108.6
I 106.2 84.0 79.0 116.5 104.6 109.7
2009 ANNUAL 101.2 81.2 80.2 115.7 105.3 114.3
2009 IV 104.7 82.0 78.3 117.4 105.7 112.2
III 103.1 80.8 78.4 116.4 105.5 112.9
II 98.9 78.8 79.7 116.1 106.2 117.4
I 98.3 83.0 84.4 112.9 103.8 114.8
---------------------------------------------------------------------------------------------------
See footnotes following Table 6. November 30, 2011
r=revised Source: Bureau of Labor Statistics
Table 5. Nondurable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
Real
Output Compen- compen-
Year per hour Hours sation sation Unit
and of all of all per hour per hour labor
quarter persons Output persons (1) (2) costs
---------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2011 III 0.1 r 1.0 0.9 r -1.3 r -4.2 r -1.4 r
II 0.0 r -0.9 r -0.9 2.8 r -1.2 r 2.8 r
I 3.4 2.1 -1.3 2.8 -2.4 -0.6
2010 ANNUAL 3.9 3.9 0.1 0.8 -0.9 -3.0
2010 IV 5.3 2.0 -3.2 2.2 -0.5 -3.0
III 4.2 2.8 -1.3 5.7 4.2 1.4
II -1.3 4.0 5.4 -1.9 -1.4 -0.5
I 3.6 5.4 1.7 -2.2 -3.4 -5.6
2009 ANNUAL 2.3 -6.6 -8.7 2.9 3.2 0.5
2009 IV 7.7 6.2 -1.4 1.9 -0.9 -5.4
III 5.3 3.0 -2.2 2.5 -1.1 -2.6
II 4.3 -2.5 -6.5 2.8 0.8 -1.5
I 2.8 -11.2 -13.6 -3.3 -1.0 -6.0
---------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2011 III 2.2 r 1.0 -1.2 r 1.6 r -2.1 r -0.6 r
II 3.2 1.5 -1.7 3.4 r 0.0 r 0.1 r
I 2.9 2.7 -0.2 2.1 0.0 -0.7
2010 ANNUAL 3.9 3.9 0.1 0.8 -0.9 -3.0
2010 IV 2.9 3.5 0.6 0.9 -0.3 -2.0
III 3.5 4.6 1.1 0.8 -0.4 -2.6
II 3.8 4.6 0.8 0.1 -1.7 -3.6
I 5.2 3.0 -2.1 1.2 -1.1 -3.8
2009 ANNUAL 2.3 -6.6 -8.7 2.9 3.2 0.5
2009 IV 5.0 -1.3 -6.0 0.9 -0.5 -3.9
III 4.5 -5.8 -9.8 3.5 5.2 -1.0
II 0.9 -9.1 -9.9 3.7 4.7 2.8
I -1.0 -9.7 -8.8 3.3 3.4 4.3
---------------------------------------------------------------------------------------------------
Indexes 2005=100
2011 III 111.0 r 96.0 r 86.6 r 117.1 r 101.0 r 105.5 r
II 110.9 r 95.8 r 86.4 117.4 r 102.1 r 105.9 r
I 110.9 96.0 86.6 116.6 102.4 105.1
2010 ANNUAL 108.5 94.6 87.2 114.7 102.7 105.7
2010 IV 110.0 95.5 86.9 115.8 103.0 105.3
III 108.6 95.1 87.6 115.2 103.2 106.1
II 107.5 94.4 87.9 113.6 102.1 105.7
I 107.8 93.5 86.7 114.2 102.5 105.9
2009 ANNUAL 104.5 91.1 87.2 113.8 103.6 109.0
2009 IV 106.9 92.3 86.3 114.8 103.3 107.4
III 104.9 90.9 86.6 114.3 103.6 108.9
II 103.6 90.2 87.1 113.5 103.8 109.6
I 102.5 90.8 88.6 112.8 103.6 110.0
---------------------------------------------------------------------------------------------------
See footnotes following Table 6. November 30, 2011
r=revised Source: Bureau of Labor Statistics
Table 6. Nonfinancial corporate sector: Productivity, hourly compensation, unit labor costs, unit profits,
and prices, seasonally adjusted
Real Unit
Output Hourly hourly non- Total Unit Implicit
Year per all- compen- compen- Unit labor unit pro- price
and employee Employee sation sation labor costs cost fits deflator
quarter hour Output hours (1) (2) costs (6) (7) (8) (4)
---------------------------------------------------------------------------------------------------------
Percent change from previous quarter at annual rate(5)
2011 III -2.6 -0.8 1.9 0.3 -2.6 3.0 3.2 3.1 7.5 3.7
II 3.2 r 6.1 r 2.9 0.8 r -3.2 r -2.3 r -1.8 r -2.2 r 28.9 r 1.8
I 2.3 4.5 2.1 4.5 -0.8 2.1 0.7 1.7 3.7 2.0
2010 ANNUAL 5.3 5.4 0.1 1.9 0.3 -3.2 -9.7 -5.1 40.6 -0.7
2010 IV -3.1 -1.3 1.9 -0.3 -3.0 2.9 1.8 2.6 -0.8 2.1
III -0.1 2.3 2.3 2.6 1.2 2.7 -4.6 0.6 13.3 2.3
II -1.2 2.9 4.2 1.4 2.0 2.7 -7.8 -0.4 10.2 0.9
I 9.3 10.6 1.2 0.9 -0.4 -7.7 -15.0 -9.9 101.8 -0.5
2009 ANNUAL 1.6 -6.3 -7.8 2.0 2.4 0.4 5.3 1.8 -9.2 0.6
2009 IV 10.5 9.9 -0.6 1.6 -1.1 -8.1 -10.4 -8.7 74.1 -2.4
III 9.3 3.8 -5.0 3.0 -0.7 -5.7 -13.5 -8.1 52.8 -3.7
II 7.2 -3.2 -9.7 7.4 5.4 0.2 -3.3 -0.9 -28.2 -3.7
I -8.1 -18.6 -11.5 -6.3 -4.0 2.0 21.4 7.4 -29.7 3.0
---------------------------------------------------------------------------------------------------------
Percent change from corresponding quarter of previous year
2011 III -0.1 2.1 2.2 1.3 -2.4 1.4 0.9 1.3 9.3 2.4
II 0.5 r 2.8 r 2.3 1.9 r -1.4 r 1.3 r -1.0 r 0.7 10.7 r 2.0
I -0.6 2.1 2.6 2.0 -0.2 2.6 -2.5 1.1 6.5 1.8
2010 ANNUAL 5.3 5.4 0.1 1.9 0.3 -3.2 -9.7 -5.1 40.6 -0.7
2010 IV 1.1 3.5 2.4 1.1 -0.1 0.0 -6.6 -1.9 25.7 1.2
III 4.5 6.4 1.8 1.6 0.4 -2.7 -9.5 -4.7 44.7 0.1
II 6.8 6.8 -0.1 1.7 0.0 -4.8 -11.7 -6.9 56.0 -1.4
I 9.1 5.1 -3.6 3.2 0.8 -5.4 -10.7 -7.0 40.1 -2.6
2009 ANNUAL 1.6 -6.3 -7.8 2.0 2.4 0.4 5.3 1.8 -9.2 0.6
2009 IV 4.5 -2.6 -6.8 1.3 -0.1 -3.0 -2.3 -2.8 7.6 -1.7
III 1.3 -7.6 -8.8 2.5 4.1 1.2 4.9 2.2 -19.2 -0.3
II 1.1 -7.7 -8.7 2.9 3.9 1.7 8.7 3.7 -16.2 1.6
I -0.3 -7.2 -6.9 1.5 1.6 1.8 10.4 4.3 -7.8 3.0
---------------------------------------------------------------------------------------------------------
Indexes 2005=100
2011 III 110.3 104.9 95.1 117.6 101.5 106.7 107.7 107.0 130.3 109.9
II 111.0 r 105.1 r 94.7 117.5 r 102.2 r 105.9 r 106.9 r 106.2 r 128.0 r 108.9 r
I 110.1 103.6 94.0 117.3 103.0 106.5 107.4 106.8 120.1 108.5
2010 ANNUAL 110.3 102.2 92.7 115.6 103.5 104.9 108.0 105.7 116.7 107.1
2010 IV 109.5 102.4 93.5 116.0 103.2 106.0 107.2 106.3 119.0 107.9
III 110.4 102.8 93.1 116.1 104.0 105.2 106.7 105.6 119.3 107.3
II 110.4 102.2 92.6 115.4 103.7 104.5 107.9 105.5 115.6 106.8
I 110.7 101.5 91.6 115.0 103.2 103.8 110.2 105.6 112.8 106.5
2009 ANNUAL 104.7 97.0 92.6 113.4 103.2 108.4 119.5 111.5 83.0 107.9
2009 IV 108.3 98.9 91.3 114.7 103.3 105.9 114.7 108.4 94.7 106.6
III 105.6 96.6 91.5 114.3 103.6 108.2 117.9 110.9 82.4 107.3
II 103.3 95.7 92.7 113.4 103.7 109.8 122.3 113.2 74.1 108.3
I 101.5 96.5 95.1 111.4 102.4 109.7 123.3 113.5 80.5 109.3
---------------------------------------------------------------------------------------------------------
See footnotes following Table 6. November 30, 2011
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 -1.7
and 1.6 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 second quarter of 2011.
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 1978-2010 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.
United States Department of Labor
