Internet address: http://www.bls.gov/lpc/ USDL 06-776 

Historical, technical TRANSMISSION OF THIS 

 information: (202) 691-5606 MATERIAL IS EMBARGOED

dprweb@bls.gov UNTIL 8:30 A.M. EDT, 

Current data: (202) 691-5200 THURSDAY, MAY 4, 2006. 

blsdata_staff@bls.gov 

Media contact: (202) 691-5902 

This release was reissued on the afternoon of Tuesday, May 9, to correct information on 

first quarter 2006 hourly compensation, real hourly compensation, and unit labor costs in 

manufacturing, durable goods manufacturing, and nondurable goods manufacturing. The 

data were based on erroneous, unpublished industry tabulations of employee compensation 

given to BLS by the Bureau of Economic Analysis, U.S. Dept. of Commerce. 

PRODUCTIVITY AND COSTS 

First Quarter 2006, preliminary

 The Bureau of Labor Statistics of the U.S. Department of Labor today reported 

preliminary productivity data—as measured by output per hour of all persons—for the first 

quarter of 2006. The seasonally adjusted annual rates of productivity change in the first quarter 

were: 

3.4 percent in the business sector and 

 3.2 percent in the nonfarm business sector. 

Productivity in the business sector grew faster in the first quarter of 2006 than in the 

fourth quarter of 2005, when it increased 0.2 percent (as revised). In the nonfarm business 

sector, productivity had declined by 0.3 percent in the fourth quarter of 2005. In both sectors, 

output and hours worked grew faster in the first quarter of 2006 than they had in the fourth 

quarter of 2005. 

 In manufacturing, productivity changes in the first quarter were: 

4.2 percent in manufacturing, 

3.8 percent in durable goods manufacturing, and 

4.4 percent in nondurable goods manufacturing. 

 Productivity growth in manufacturing in the first quarter of 2006 reflected a 5.8-percent 

increase in output and a 1.6-percent increase in hours worked in the sector. Output and hours in 

manufacturing, which includes about 13 percent of U.S. business sector employment, tend to 

vary more from quarter to quarter than data for the aggregate business and nonfarm business 
2 

sectors. First-quarter measures are summarized in table A and appear in detail in tables 1 

through 5. 

 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 independently prepared by the Board of Governors of the Federal Reserve 

System. See Technical Notes for further information on data sources (page 7). 

Table A. Productivity and costs: Preliminary first-quarter 2006 measures 

(Seasonally adjusted annual rates) 

Sector 

Productivity Output Hours 

Hourly 

compensation 

Real 

hourly 

compensation 

Unit 

labor 

costs 

 Percent change from preceding quarter 

Business 3.4 5.8 2.3 5.8 3.6 2.3 

Nonfarm business 3.2 5.8 2.5 5.7 3.6 2.5 

Manufacturing 4.2 5.8 1.6 2.4 0.3 -1.7 

 Durable 3.8 4.7 0.9 3.3 1.2 -0.5 

 Nondurable 4.4 7.3 2.7 1.0 -1.1 -3.3 

 Percent change from same quarter a year ago 

Business 2.4 4.1 1.6 3.8 0.1 1.4 

Nonfarm business 2.4 4.1 1.7 3.8 0.1 1.4 

Manufacturing 4.1 4.7 0.6 3.2 -0.4 -0.9 

 Durable 6.0 7.3 1.1 3.1 -0.5 -2.7 

 Nondurable 1.8 1.5 -0.3 3.3 -0.4 1.4 

Business 

 Productivity in the business sector rose 3.4 percent in the first quarter of 2006, as output 

grew 5.8 percent and hours of all persons at work in the sector increased 2.3 percent (seasonally 

adjusted annual rates). Revised data for the fourth quarter of 2005 show that output per hour 

increased 0.2 percent, reflecting a 1.8-percent rise in output and a 1.6-percent increase in hours 

at work. (See table 1.) 

 Hourly compensation increased 5.8 percent during the first quarter of 2006. This 

measure includes wages and salaries, supplements, employer contributions to employee benefit 

plans, and taxes. Hourly compensation had risen 3.0 percent in the previous quarter. Real hourly 
3 

compensation, which takes into account changes in consumer prices, increased 3.6 percent in the 

first quarter of 2006, after declining 0.3 percent in the fourth quarter of 2005. 

Unit labor costs rose 2.3 percent in the first quarter of 2006, compared to a 2.8-percent 

increase in the fourth quarter. Growth in unit labor costs is roughly equivalent to the change in 

hourly compensation minus the change in output per hour. 

 The implicit price deflator for the business sector, which reflects changes in both unit 

labor costs and unit nonlabor payments, rose 2.7 percent in the first quarter. In the previous 

quarter, the implicit price deflator for business sector output increased 3.5 percent. 

Nonfarm business 

 Productivity rose 3.2 percent in the nonfarm business sector in first-quarter 2006 as 

output grew 5.8 percent and hours of all persons increased by 2.5 percent (seasonally adjusted 

annual rates). In the fourth quarter of 2005, productivity had declined 0.3 percent, reflecting 

increases in output and hours of 1.5 percent and 1.8 percent, respectively. (See table 2.) 

 Hourly compensation increased 5.7 percent in the first quarter of 2006, more rapidly than 

in the fourth quarter, when it grew 2.7 percent. When the rise in consumer prices was taken into 

account, real hourly compensation rose 3.6 percent in the first quarter, in contrast to a 0.6-

percent decline in the fourth quarter of 2005. 

Unit labor costs grew 2.5 percent in the first quarter of 2006, following a 3.0-percent rise 

one quarter earlier. The implicit price deflator for nonfarm business output rose 2.8 percent in 

the first quarter of 2006 and 3.6 percent in the fourth quarter of 2005. 

Manufacturing 

 Productivity increased 4.2 percent in manufacturing in the first quarter of 2006, as output 

increased 5.8 percent and hours of all persons rose 1.6 percent (seasonally adjusted annual rates). 

Manufacturing hours had also increased in the fourth quarter of 2005, 4.6 percent, after six 

consecutive quarterly declines (See table 3.) The 3.8-percent increase in durable goods 

manufacturing in the first quarter was the smallest since a 3.7 percent rise in the fourth quarter of 

2003, and reflected growth in output and hours of 4.7 percent and 0.9 percent, respectively. 

Productivity grew faster in nondurable goods manufacturing than in durable goods industries in 

the first quarter, 4.4 percent, as output jumped 7.3 percent and hours of all persons increased 2.7 

percent. 

 The hourly compensation of all manufacturing workers increased 2.4 percent during the 

first quarter of 2006, and real hourly compensation rose 0.3 percent (seasonally adjusted annual 

rates). The 2.4-percent hourly compensation increase reflected a 3.3-percent gain in durable 

goods hourly compensation and a 1.0 percent rise in compensation per hour in nondurable goods 

industries. This was the smallest increase in nondurable manufacturing hourly compensation 

since the first quarter of 2004, when it rose 0.8 percent. 
4 

Because the productivity of manufacturing workers rose more rapidly than their hourly 

compensation, unit labor costs decreased in the first quarter, by 1.7 percent. Unit labor costs in 

manufacturing have fallen in three of the last four quarters. Unit labor costs declined 0.5 percent 

in durable goods manufacturing in the first quarter of 2006, less than in the nondurable goods 

subsector, where these costs fell 3.3 percent. 

Fourth-quarter and annual measures for nonfinancial corporations 

 Fourth-quarter and annual 2005 measures of productivity and costs also were announced 

today for the nonfinancial corporate sector (tables B, C, and 6). Output per all-employee hour 

grew 4.6 percent from the third to the fourth quarter of 2005, as output grew 7.3 percent and 

employee hours increased 2.5 percent. The nonfinancial corporate sector includes all 

corporations doing business in the United States, except those classified as depository 

institutions, nondepository institutions, security and commodity brokers, insurance carriers, 

regulated investment offices, small business investment offices, and real estate investment trusts. 

Table B. Nonfinancial corporations: Fourth-quarter 2005 productivity and cost measures 

(Seasonally adjusted annual rates) 

Period 

Productivity Output Hours 

Hourly 

compensation 

Real 

hourly 

compensation 

Unit 

labor 

costs 

Unit 

profits 

Implicit 

price 

deflator 

Percent change from preceding quarter 

2005 IV 4.6 7.3 2.5 2.5 -0.8 -2.0 47.1 1.7 

Percent change from same quarter a year ago 

2005 IV 4.0 5.7 1.6 3.9 0.2 -0.1 20.0 1.8 

 Hourly compensation in this sector increased 2.5 percent in the fourth quarter, but when 

consumer prices are taken into account, real hourly compensation fell 0.8 percent. Unit labor 

costs fell 2.0 percent in the fourth quarter of 2005. Unit profits grew 47.1 percent in the fourth 

quarter of 2005 after falling 8.8 percent in the previous quarter. The implicit price deflator for 

nonfinancial corporate output grew 1.7 percent during the fourth quarter of 2005 after rising 2.1 

percent in the third quarter. 

 In calendar year 2005, productivity in the nonfinancial corporate sector grew 5.0 

percent—the largest annual increase in the history of the series, which begins in 1959. Output 

per hour had increased 4.0 percent in 2004, 4.3 percent in 2003, and 3.9 percent in 2002. When 

the annual average for 2005 is compared to that for 2001, productivity growth in nonfinancial 

corporations averaged 4.3 percent per year. Nonfinancial corporate output grew 6.5 percent in 

2005, compared to 5.5-percent growth in 2004. Employee hours increased 1.4 percent in each of 

the last two years. (See table C.) 
5 

Table C. Nonfinancial corporations: Annual changes in productivity and related measures, 1996-

2005 

Measure 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005

Productivity........................... 3.7 2.6 3.2 3.4 3.6 1.6 3.9 4.3 4.0 5.0

Output ................................... 5.5 6.5 5.7 6.0 5.2 -0.9 0.9 2.8 5.5 6.5

Hours..................................... 1.8 3.8 2.4 2.6 1.6 -2.5 -2.9 -1.4 1.4 1.4

Hourly compensation ............ 3.0 3.0 5.7 4.6 6.8 4.0 3.4 4.0 4.1 5.6

Real hourly compensation..... 0.3 0.9 4.3 2.4 3.3 1.2 1.8 1.6 1.3 2.1

Unit labor costs ..................... -0.7 0.4 2.4 1.2 3.1 2.4 -0.4 -0.3 0.0 0.5

Unit nonlabor costs ............... -1.3 -0.2 -0.2 0.9 3.8 8.1 -1.6 0.0 -0.5 -2.3

Total unit costs...................... -0.8 0.2 1.7 1.1 3.3 3.9 -0.7 -0.2 -0.1 -0.2

Unit profits............................ 9.6 2.9 -11.2 -5.8 -15.8 -24.3 19.2 18.9 18.1 14.7

Implicit price deflator ........... 0.4 0.6 0.0 0.3 1.2 1.3 0.6 1.3 1.6 1.4

Hourly compensation grew 5.6 percent in 2005, and real hourly compensation increased 

2.1 percent. These were the largest increases in both of these series since 2000, when 

compensation per hour increased 6.8 percent and real hourly compensation grew 3.3 percent. 

Total unit costs declined 0.2 percent, reflecting a 0.5-percent rise in unit labor costs and a 2.3-

percent drop in unit nonlabor costs. The rise in unit labor costs was the first since 2001, when 

these costs increased 2.4 percent. Unit profits rose 14.7 percent in 2005. The implicit price 

deflator, which reflects both the unit costs and unit profits measures, rose 1.4 percent in 2005. 

Revised measures 

 Current and previous measures for the fourth quarter and annual average of 2005 in the 

business, nonfarm business, and manufacturing sectors are compared in table D. Some of the 

quarterly movements differ from those reported on March 7. In the business and nonfarm 

business sectors, productivity was revised up slightly, as hours were revised down. Small 

downward revisions to fourth-quarter hourly compensation and incorporation of updated 

information on consumer prices led to larger declines in real hourly compensation than reported 

March 7. The upward revisions to productivity and downward revisions to hourly compensation 

resulted in smaller increases in unit labor costs in the business and nonfarm business sectors than 

previously reported. 

Fourth-quarter productivity growth in the manufacturing sector was not changed from the 

previous estimate due to offsetting upward revisions to output and hours. A downward revision 

to compensation, combined with the upward revision to hours, produced a smaller increase in 

hourly compensation, and a larger decrease in real hourly compensation, than reported March 7. 

The downward revision to hourly compensation led to a larger decline in unit labor costs than 

previously reported. 
6 

Table D. Previous and revised productivity and related measures 

Quarterly percent change at seasonally adjusted annual rate 

Sector 

Productivity Output Hours 

Hourly 

compensation 

Real 

hourly 

compensation 

Unit 

labor 

costs 

Fourth quarter 2005 

Business: 

 Previous ....................... 0.0 1.8 1.7 3.1 -0.1 3.1 

 Revised......................... 0.2 1.8 1.6 3.0 -0.3 2.8 

Nonfarm business: 

 Previous ....................... -0.5 1.5 2.0 2.8 -0.4 3.3 

 Revised......................... -0.3 1.5 1.8 2.7 -0.6 3.0 

Manufacturing: 

 Previous ....................... 4.7 9.3 4.4 1.8 -1.4 -2.8 

 Revised......................... 4.7 9.4 4.6 1.2 -2.0 -3.3 

Annual average 2005 

Business: 

 Previous ....................... 2.7 4.0 1.3 5.4 2.0 2.7 

 Revised......................... 2.6 4.0 1.4 5.3 1.9 2.6 

Nonfarm business: 

 Previous ....................... 2.9 4.2 1.3 5.5 2.1 2.6 

 Revised......................... 2.7 4.2 1.4 5.4 2.0 2.5 

Manufacturing: 

 Previous ....................... 5.0 3.9 -1.1 7.0 3.5 1.9 

 Revised......................... 5.0 3.9 -1.1 7.0 3.5 1.9 

All of the 2005 annual average annual productivity and cost measures reported for the 

business and nonfarm business sectors and for manufacturing are similar to those reported in 

March. 

The Consumer Price Index Research Series has been updated and new seasonal factors 

applied to it. Real hourly compensation measures are revised beginning with 2001. See 

appendix tables 1-6. 

Next release date 

 The next release of Productivity and Costs is scheduled for 8:30 AM EDT, Thursday, 

June 1, 2006. First-quarter measures for nonfinancial corporations and revised first quarter 

measures for business, nonfarm business, and manufacturing will be released at that time. 
7 

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 BEA. These deflators are based on data from the BLS producer price 

program and other sources. The industry shipments are aggregated using annual weights, and 

intrasector transactions are removed. Quarterly manufacturing output measures are based on the index 

of industrial production prepared monthly by the Board of Governors of the Federal Reserve System, 

adjusted to be consistent with annual indexes of manufacturing sector output prepared by BLS. 

Durables include the following 3-digit NAICS industries: wood product manufacturing; nonmetallic 

mineral product manufacturing; primary metal manufacturing; fabricated metal product manufacturing; 

machinery 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 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 
8 

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. 
9 

 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 

 2004 I 131.7 152.6 115.9 154.4 118.5 117.2 123.2 119.4 

 II 132.9 154.1 116.0 155.8 r118.4 117.3 126.1 120.5 

 III 133.4 155.8 116.8 158.3 r119.6 118.6 124.3 120.7 

 IV 134.3 157.2 117.1 162.5 r121.8 121.0 122.2 121.5 

 ANNUAL 133.1 154.9 116.4 157.8 119.6 118.5 123.9 120.6 

 2005 I 135.4 158.9 117.3 164.5 r122.5 121.4 123.7 122.3 

 II 135.8 160.4 118.1 164.7 r121.5 121.2 126.2 123.1 

 III 137.5 162.3 118.1 167.1 r121.7 121.6 128.3 124.1 

 IV r137.5 r163.1 r118.6 r168.3 r121.6 r122.4 r129.8 r125.1 

 ANNUAL r136.6 r161.2 r118.0 r166.1 r121.8 r121.7 r127.0 r123.7 

 2006 I 138.7 165.4 119.2 170.7 122.7 123.1 130.9 126.0 

 --------------------------------------------------------------------------------------------------------- 

 Percent change from previous quarter at annual rate(5) 

 2004 I 3.7 4.9 1.2 4.2 r0.5 0.5 9.1 3.7 

 II 3.7 4.0 0.3 3.9 r-0.2 0.2 9.8 3.8 

 III 1.6 4.4 2.8 6.4 r4.2 4.8 -5.5 0.7 

 IV 2.7 3.6 0.9 11.2 7.4 8.3 -6.5 2.4 

 ANNUAL 3.5 4.8 1.3 4.7 2.0 1.2 4.4 2.4 

 2005 I 3.4 4.4 0.9 4.8 2.4 1.3 5.1 2.7 

 II 1.1 4.0 2.8 0.5 r-3.2 -0.6 8.3 2.6 

 III 4.9 4.8 -0.1 6.0 r0.5 1.1 6.7 3.2 

 IV r0.2 1.8 r1.6 r3.0 r-0.3 r2.8 r4.7 r3.5 

 ANNUAL r2.6 4.0 r1.4 r5.3 r1.9 r2.6 r2.5 2.6 

 2006 I 3.4 5.8 2.3 5.8 3.6 2.3 3.4 2.7 

 --------------------------------------------------------------------------------------------------------- 

 Percent change from corresponding quarter of previous year 

 2004 I 4.9 5.5 0.6 4.5 2.6 -0.4 5.7 1.9 

 II 3.9 5.3 1.4 3.7 r0.9 -0.2 7.5 2.7 

 III 2.2 4.0 1.7 4.2 r1.4 1.9 3.3 2.4 

 IV 2.9 4.2 1.3 6.4 2.9 3.4 1.4 2.6 

 ANNUAL 3.5 4.8 1.3 4.7 2.0 1.2 4.4 2.4 

 2005 I 2.8 4.1 1.2 6.5 3.4 3.6 0.5 2.4 

 II 2.2 4.1 1.9 5.7 r2.6 3.4 0.1 2.1 

 III 3.0 4.2 1.1 5.6 1.7 2.5 3.2 2.7 

 IV 2.4 3.7 1.3 3.6 r-0.2 r1.1 r6.2 3.0 

 ANNUAL r2.6 4.0 r1.4 r5.3 r1.9 r2.6 r2.5 2.6 

 2006 I 2.4 4.1 1.6 3.8 0.1 1.4 5.8 3.0 

 --------------------------------------------------------------------------------------------------------- 

 See footnotes following Table 6. May 4, 2006 

 r=revised Source: Bureau of Labor Statistics 
10 

 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 

 2004 I 130.8 152.8 116.8 153.4 117.7 117.3 123.6 119.6 

 II 132.3 154.5 116.8 154.9 r117.7 117.1 126.4 120.6 

 III 132.8 156.3 117.6 157.3 r118.9 118.4 125.4 121.0 

 IV 133.5 157.7 118.2 161.1 r120.7 120.7 123.6 121.8 

 ANNUAL 132.4 155.3 117.3 156.7 118.8 r118.4 124.8 120.7 

 2005 I 134.7 159.4 118.3 163.3 r121.7 121.2 125.1 122.7 

 II 135.5 161.2 118.9 163.8 r120.9 120.9 127.9 123.5 

 III 136.9 163.0 119.1 166.0 r120.9 121.3 130.1 124.5 

 IV r136.8 r163.6 r119.6 r167.2 r120.8 r122.2 r131.6 r125.6 

 ANNUAL r136.0 r161.8 r119.0 r165.1 r121.1 r121.4 r128.7 r124.1 

 2006 I 137.9 165.9 120.3 169.5 121.8 122.9 132.7 126.5 

 --------------------------------------------------------------------------------------------------------- 

 Percent change from previous quarter at annual rate(5) 

 2004 I 2.4 4.2 1.7 3.4 r-0.2 1.0 7.9 3.6 

 II 4.5 4.6 0.1 4.0 r0.0 -0.5 9.5 3.2 

 III 1.7 4.6 2.9 6.2 r4.0 4.5 -3.2 1.5 

 IV 2.0 3.9 1.9 10.0 r6.3 7.9 -5.7 2.6 

 ANNUAL 3.4 4.8 1.3 4.6 1.8 1.1 3.9 2.1 

 2005 I 3.8 4.3 0.5 5.6 3.2 1.8 5.1 3.0 

 II 2.4 4.4 2.0 1.3 r-2.4 -1.0 9.0 2.7 

 III 4.2 4.7 0.4 5.5 r0.0 1.2 7.3 3.5 

 IV r-0.3 1.5 r1.8 r2.7 r-0.6 r3.0 r4.5 r3.6 

 ANNUAL r2.7 4.2 r1.4 r5.4 r2.0 r2.5 r3.2 2.8 

 2006 I 3.2 5.8 2.5 5.7 3.6 2.5 3.4 2.8 

 --------------------------------------------------------------------------------------------------------- 

 Percent change from corresponding quarter of previous year 

 2004 I 4.7 5.5 0.8 4.3 2.5 -0.3 4.5 1.5 

 II 4.2 5.5 1.2 3.8 r1.0 -0.4 6.5 2.1 

 III 2.3 4.0 1.7 4.1 r1.3 1.8 3.0 2.3 

 IV 2.6 4.3 1.7 5.9 r2.5 3.2 1.9 2.7 

 ANNUAL 3.4 4.8 1.3 4.6 1.8 1.1 3.9 2.1 

 2005 I 3.0 4.4 1.4 6.4 r3.3 3.4 1.2 2.6 

 II 2.4 4.3 1.8 5.8 2.7 3.2 1.1 2.4 

 III 3.1 4.3 1.2 5.6 1.7 2.4 3.8 2.9 

 IV 2.5 3.7 1.2 3.8 r0.0 r1.2 r6.5 r3.2 

 ANNUAL r2.7 4.2 r1.4 r5.4 r2.0 r2.5 r3.2 2.8 

 2006 I 2.4 4.1 1.7 3.8 0.1 1.4 6.0 3.1 

 --------------------------------------------------------------------------------------------------------- 

 See footnotes following Table 6. May 4, 2006 

 r=revised Source: Bureau of Labor Statistics 
11 

 

 Table 3, corrected. 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 

 2004 I 159.0 135.7 85.4 159.2 122.1 100.1 

 II 162.2 137.9 85.0 161.2 r122.5 99.4 

 III 164.0 139.3 84.9 165.0 r124.7 100.6 

 IV 166.7 140.8 84.4 169.9 r127.3 101.9 

 ANNUAL 163.0 138.4 84.9 163.8 124.1 100.5 

 2005 I 168.7 142.2 84.3 172.8 r128.7 102.4 

 II 170.3 142.7 83.8 174.3 r128.7 102.4 

 III 171.8 143.6 83.6 176.7 r128.7 102.8 

 IV r173.8 r146.9 r84.5 r177.3 r128.0 r102.0 

 ANNUAL r171.2 r143.8 r84.0 r175.3 r128.5 r102.4 

 2006 I 175.6 149.0 84.8 c178.3 c128.1 c101.5 

 -------------------------------------------------------------------------------------------------- 

 Percent change from previous quarter at annual rate(5) 

 2004 I 3.6 5.9 2.2 -9.6 r-12.7 -12.7 

 II 8.3 6.6 -1.6 5.1 r1.1 -3.0 

 III 4.6 4.1 -0.4 10.0 r7.6 5.1 

 IV 6.7 4.3 -2.3 12.3 8.5 5.2 

 ANNUAL 5.5 5.0 -0.5 2.3 -0.4 -3.1 

 2005 I 4.8 4.2 -0.5 6.9 4.5 2.0 

 II 3.9 1.2 -2.5 3.6 r-0.1 -0.2 

 III 3.7 2.6 -1.0 5.6 r0.1 1.8 

 IV 4.7 r9.4 r4.6 r1.2 r-2.0 r-3.3 

 ANNUAL 5.0 3.9 -1.1 7.0 3.5 1.9 

 2006 I 4.2 5.8 1.6 c2.4 c0.3 c-1.7 

 -------------------------------------------------------------------------------------------------- 

 Percent change from corresponding quarter of previous year 

 2004 I 5.2 3.4 -1.8 1.6 -0.2 -3.4 

 II 6.3 5.7 -0.6 1.3 -1.5 -4.7 

 III 4.8 5.7 0.9 2.2 -0.5 -2.5 

 IV 5.8 5.2 -0.6 4.1 r0.8 -1.6 

 ANNUAL 5.5 5.0 -0.5 2.3 -0.4 -3.1 

 2005 I 6.1 4.8 -1.2 8.6 5.4 2.3 

 II 5.0 3.4 -1.5 8.2 5.1 3.0 

 III 4.8 3.1 -1.6 7.1 3.2 2.2 

 IV r4.2 4.3 r0.1 r4.3 r0.6 r0.1 

 ANNUAL 5.0 3.9 -1.1 7.0 3.5 1.9 

 2006 I 4.1 4.7 0.6 c3.2 c-0.4 c-0.9 

 -------------------------------------------------------------------------------------------------- 

 See footnotes following Table 6. May 4, 2006 

 r=revised, c=corrected Source: Bureau of Labor Statistics 
12 

 Table 4, corrected. 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 

 2004 I 185.9 165.9 89.2 155.6 119.4 83.7 

 II 189.7 168.7 89.0 158.1 r120.1 83.4 

 III 192.1 171.6 89.3 162.0 r122.4 84.3 

 IV 195.9 174.1 88.9 166.2 r124.5 84.8 

 ANNUAL 190.9 170.1 89.1 160.5 121.6 84.1 

 2005 I 199.1 177.0 88.9 169.0 r125.9 84.9 

 II 201.1 178.1 88.6 169.9 r125.4 84.5 

 III 204.3 181.2 88.7 172.3 r125.5 84.4 

 IV r209.2 r187.7 r89.7 r172.9 r124.9 r82.6 

 ANNUAL r203.4 r181.0 r89.0 r171.0 r125.4 r84.1 

 2006 I 211.1 189.8 89.9 c174.3 c125.2 c82.5 

 -------------------------------------------------------------------------------------------------- 

 Percent change from previous quarter at annual rate(5) 

 2004 I 4.1 8.5 4.2 -14.8 r-17.7 -18.1 

 II 8.4 7.0 -1.2 6.6 r2.5 -1.6 

 III 5.3 6.9 1.5 10.1 r7.8 4.6 

 IV 8.2 6.1 -1.9 10.9 r7.1 2.5 

 ANNUAL 6.7 7.3 0.6 1.2 -1.5 -5.2 

 2005 I 6.7 6.8 0.1 6.9 4.4 0.2 

 II 4.0 2.6 -1.4 2.3 r-1.4 -1.7 

 III 6.5 7.0 0.4 5.8 r0.3 -0.7 

 IV r9.9 r15.2 r4.8 r1.2 r-2.1 r-7.9 

 ANNUAL 6.6 6.4 r-0.1 6.6 r3.1 0.0 

 2006 I 3.8 4.7 0.9 c3.3 c1.2 c-0.5 

 -------------------------------------------------------------------------------------------------- 

 Percent change from corresponding quarter of previous year 

 2004 I 7.0 5.9 -1.0 0.4 -1.4 -6.1 

 II 7.8 8.2 0.4 0.3 -2.4 -6.9 

 III 5.4 8.0 2.5 1.2 -1.5 -3.9 

 IV 6.5 7.1 0.6 2.6 -0.7 -3.6 

 ANNUAL 6.7 7.3 0.6 1.2 -1.5 -5.2 

 2005 I 7.1 6.7 -0.4 8.6 r5.4 1.4 

 II 6.0 5.6 -0.4 7.5 4.4 1.4 

 III 6.3 5.6 -0.7 6.4 2.5 0.1 

 IV 6.8 7.8 r1.0 r4.0 r0.3 r-2.6 

 ANNUAL 6.6 6.4 r-0.1 6.6 r3.1 0.0 

 2006 I 6.0 7.3 1.1 c3.1 c-0.5 c-2.7 

 -------------------------------------------------------------------------------------------------- 

 See footnotes following Table 6. May 4, 2006 

 r=revised, c=corrected Source: Bureau of Labor Statistics 
13 

 Table 5, corrected. 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 

 2004 I 133.3 106.1 79.6 164.1 125.9 123.1 

 II 136.1 107.7 79.1 165.1 r125.4 121.3 

 III 137.6 107.8 78.4 168.7 r127.5 122.6 

 IV 139.3 108.4 77.8 174.7 r130.9 125.5 

 ANNUAL 136.6 107.5 78.7 168.1 127.4 123.1 

 2005 I 140.2 108.6 77.5 177.7 r132.4 126.7 

 II 141.7 108.5 76.6 180.3 r133.1 127.3 

 III 141.9 107.7 75.9 182.5 r132.9 128.6 

 IV r141.2 r108.3 r76.7 r183.0 r132.2 r129.6 

 ANNUAL r141.3 r108.3 r76.7 r180.9 r132.6 r128.0 

 2006 I 142.8 110.3 77.2 c183.5 c131.9 c128.5 

 -------------------------------------------------------------------------------------------------- 

 Percent change from previous quarter at annual rate(5) 

 2004 I 3.7 2.6 -1.1 0.8 r-2.7 -2.8 

 II 8.5 6.0 -2.3 2.4 r-1.6 -5.7 

 III 4.5 0.7 -3.6 9.1 r6.8 4.4 

 IV 5.0 2.0 -2.8 15.1 r11.2 9.6 

 ANNUAL 4.6 2.2 -2.4 4.2 1.5 -0.4 

 2005 I 2.7 0.9 -1.7 6.9 4.5 4.1 

 II 4.2 -0.4 -4.4 6.0 r2.2 1.7 

 III 0.7 -2.8 -3.5 5.0 r-0.5 4.2 

 IV r-1.9 r2.3 r4.2 r1.2 r-2.0 r3.2 

 ANNUAL 3.4 r0.8 -2.6 7.6 4.1 4.0 

 2006 I 4.4 7.3 2.7 c1.0 c-1.1 c-3.3 

 -------------------------------------------------------------------------------------------------- 

 Percent change from corresponding quarter of previous year 

 2004 I 3.5 0.3 -3.1 3.8 1.9 0.3 

 II 4.9 2.6 -2.2 2.8 0.0 -1.9 

 III 4.8 3.0 -1.7 3.6 0.9 -1.1 

 IV 5.4 2.8 -2.5 6.7 r3.3 1.2 

 ANNUAL 4.6 2.2 -2.4 4.2 1.5 -0.4 

 2005 I 5.2 2.4 -2.6 8.3 5.1 3.0 

 II 4.1 0.8 -3.2 9.2 6.1 4.9 

 III 3.1 -0.1 -3.1 8.2 4.2 4.9 

 IV 1.4 r0.0 r-1.4 r4.8 r1.0 r3.3 

 ANNUAL 3.4 r0.8 -2.6 7.6 4.1 4.0 

 2006 I 1.8 1.5 -0.3 c3.3 c-0.4 c1.4 

 -------------------------------------------------------------------------------------------------- 

 See footnotes following Table 6. May 4, 2006 

 r=revised, c=corrected Source: Bureau of Labor Statistics 
14 

 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 

 2003 I 130.5 152.4 116.7 144.6 113.0 110.8 111.4 111.0 107.7 110.7 

 II 132.9 154.5 116.2 147.1 r114.9 110.7 110.4 110.6 113.6 110.9 

 III 135.2 157.1 116.2 148.9 r115.6 110.1 110.8 110.3 119.8 111.1 

 IV 136.1 158.9 116.8 149.8 r116.0 110.1 110.7 110.2 124.6 111.5 

 ANNUAL 133.7 155.7 116.5 147.6 114.9 110.4 110.8 110.5 116.5 111.0 

 2004 I 136.4 160.3 117.6 150.3 115.4 110.2 111.2 110.5 130.0 112.2 

 II 137.3 161.7 117.7 151.8 r115.4 110.6 111.2 110.7 138.3 113.2 

 III 139.8 165.4 118.3 154.2 r116.5 110.2 110.0 110.2 139.4 112.8 

 IV 142.7 169.4 118.7 158.0 r118.4 110.7 108.5 110.1 142.7 113.1 

 ANNUAL 139.1 164.2 118.1 153.6 116.4 110.4 110.2 110.4 137.7 112.8 

 2005 I 143.7 170.8 118.9 160.3 r119.4 111.6 107.9 110.6 145.2 113.7 

 II 145.3 173.8 119.6 160.8 r118.7 110.6 107.0 109.7 159.1 114.1 

 III 146.8 175.9 119.9 163.2 r118.9 111.2 109.2 110.7 155.5 114.7 

 IV 148.4 179.1 120.6 164.2 118.6 110.6 106.9 109.6 171.2 115.1 

 ANNUAL 146.1 174.9 119.7 162.1 118.9 111.0 107.7 110.1 157.9 114.4 

 ---------------------------------------------------------------------------------------------------------- 

 Percent change from previous quarter at annual rate(5) 

 2003 I 1.4 -1.6 -2.9 4.1 r0.2 2.6 6.5 3.7 -11.8 2.2 

 II 7.4 5.6 -1.7 6.9 r6.7 -0.5 -3.2 -1.2 23.6 0.8 

 III 7.3 7.1 -0.2 5.1 r2.6 -2.1 1.2 -1.2 23.7 0.9 

 IV 2.5 4.7 2.1 2.4 r1.3 -0.1 -0.4 -0.2 17.0 1.4 

 ANNUAL 4.3 2.8 -1.4 4.0 1.6 -0.3 0.0 -0.2 18.9 1.3 

 2004 I 0.8 3.6 2.7 1.4 r-2.1 0.6 2.0 0.9 18.4 2.6 

 II 2.9 3.5 0.6 4.1 r0.1 1.2 0.2 0.9 28.0 3.5 

 III 7.4 9.6 2.0 6.2 r4.0 -1.1 -4.4 -2.0 3.3 -1.4 

 IV 8.5 10.1 1.5 10.4 r6.7 1.8 -5.3 -0.1 9.8 0.9 

 ANNUAL 4.0 5.5 1.4 4.1 1.3 0.0 -0.5 -0.1 18.1 1.6 

 2005 I 2.8 3.3 0.4 6.0 3.6 3.1 -2.5 1.6 7.1 2.2 

 II 4.6 7.1 2.4 1.1 r-2.6 -3.4 -3.1 -3.3 44.3 1.4 

 III 4.1 5.1 1.0 6.3 r0.7 2.1 8.2 3.7 -8.8 2.1 

 IV 4.6 7.3 2.5 2.5 -0.8 -2.0 -8.0 -3.6 47.1 1.7 

 ANNUAL 5.0 6.5 1.4 5.6 2.1 0.5 -2.3 -0.2 14.7 1.4 

 ---------------------------------------------------------------------------------------------------------- 

 Percent change from corresponding quarter of previous year 

 2003 I 3.6 2.1 -1.5 3.2 r0.4 -0.4 -1.5 -0.7 25.5 1.2 

 II 3.9 2.1 -1.8 3.7 r1.5 -0.3 -0.2 -0.3 20.2 1.3 

 III 4.8 3.2 -1.5 4.3 r2.0 -0.5 0.7 -0.2 19.5 1.4 

 IV 4.6 3.9 -0.7 4.6 2.7 0.0 0.9 0.2 12.1 1.3 

 ANNUAL 4.3 2.8 -1.4 4.0 1.6 -0.3 0.0 -0.2 18.9 1.3 

 2004 I 4.5 5.2 0.7 3.9 2.1 -0.5 -0.1 -0.4 20.7 1.4 

 II 3.4 4.7 1.3 3.3 0.4 -0.1 0.7 0.1 21.7 2.1 

 III 3.4 5.3 1.8 3.5 0.8 0.1 -0.7 -0.1 16.3 1.5 

 IV 4.8 6.6 1.7 5.5 r2.1 0.6 -1.9 -0.1 14.5 1.4 

 ANNUAL 4.0 5.5 1.4 4.1 1.3 0.0 -0.5 -0.1 18.1 1.6 

 2005 I 5.4 6.5 1.1 6.7 r3.5 1.2 -3.0 0.1 11.7 1.3 

 II 5.8 7.5 1.6 5.9 r2.8 0.1 -3.8 -1.0 15.1 0.8 

 III 5.0 6.4 1.3 5.9 2.0 0.9 -0.8 0.4 11.5 1.7 

 IV 4.0 5.7 1.6 3.9 0.2 -0.1 -1.5 -0.5 20.0 1.8 

 ANNUAL 5.0 6.5 1.4 5.6 2.1 0.5 -2.3 -0.2 14.7 1.4 

 ---------------------------------------------------------------------------------------------------------- 

 See footnotes following Table 6. May 4, 2006 

 r=revised Source: Bureau of Labor Statistics
15 

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 –1.4 and +1.4 index 

points approximately 95 percent of the time. This interval is based on the performance of this 

measure between the fourth quarter of 1995 and the fourth quarter of 2005. 

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 selfemployed, 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 1978-2005 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 from the original data rather 

than index numbers. Annual changes: Percent change between annual average levels. 

(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. 
16 

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 

 2001 I 117.0 141.1 120.6 138.7 112.9 118.6 106.5 114.1 

 II 118.5 141.4 119.3 139.7 r112.9 117.8 110.0 114.9 

 III 119.0 140.3 117.9 140.4 r113.2 118.0 110.5 115.2 

 IV 120.8 141.0 116.6 141.4 r114.1 117.0 113.1 115.6 

 ANNUAL 118.8 141.0 118.6 140.0 113.3 117.8 110.0 114.9 

 2002 I 122.5 141.9 115.8 143.3 r115.2 117.0 113.2 115.6 

 II 123.1 142.6 115.9 145.0 r115.7 117.8 112.7 115.9 

 III 124.4 143.8 115.6 145.6 115.6 117.0 114.8 116.2 

 IV 124.5 144.0 115.7 145.7 r114.9 117.1 116.1 116.7 

 ANNUAL 123.6 143.1 115.7 144.9 115.4 117.2 114.2 116.1 

 2003 I 125.6 144.6 115.2 147.8 115.5 117.7 116.5 117.2 

 II 127.9 146.4 114.4 150.3 r117.4 117.5 117.2 117.4 

 III 130.5 149.8 114.8 151.9 r117.9 116.4 120.4 117.9 

 IV 130.5 150.8 115.5 152.8 r118.3 117.1 120.5 118.3 

 ANNUAL 128.6 147.9 115.0 150.7 117.3 117.1 118.7 117.7 

 --------------------------------------------------------------------------------------------------------- 

 Percent change from previous quarter at annual rate(5) 

 2001 I -0.7 -1.1 -0.5 6.8 2.9 7.5 -5.7 2.7 

 II 5.4 0.8 -4.4 2.8 r0.0 -2.5 13.8 3.0 

 III 1.6 -3.1 -4.6 2.1 r1.0 0.5 1.8 1.0 

 IV 6.3 1.8 -4.3 2.8 r3.2 -3.3 10.0 1.3 

 ANNUAL 2.5 0.3 -2.1 4.2 1.3 1.6 2.6 2.0 

 2002 I 5.6 2.6 -2.8 5.7 r4.2 0.1 0.3 0.2 

 II 1.9 2.1 0.2 4.7 r1.6 2.7 -1.9 1.0 

 III 4.5 3.6 -0.9 1.8 r-0.5 -2.6 7.8 1.0 

 IV 0.0 0.5 0.4 0.2 r-2.1 0.1 4.5 1.7 

 ANNUAL 4.0 1.5 -2.4 3.5 1.9 -0.5 3.8 1.0 

 2003 I 3.7 1.7 -1.9 5.8 r1.8 2.0 1.5 1.8 

 II 7.5 4.9 -2.5 7.1 r6.9 -0.4 2.5 0.6 

 III 8.4 9.9 1.3 4.3 r1.7 -3.8 11.2 1.6 

 IV 0.0 2.6 2.5 2.4 r1.3 2.4 0.5 1.6 

 ANNUAL 4.1 3.4 -0.7 4.0 1.7 -0.1 3.9 1.4 

 --------------------------------------------------------------------------------------------------------- 

 Percent change from corresponding quarter of previous year 

 2001 I 2.6 1.8 -0.7 4.8 1.3 2.1 1.1 1.8 

 II 2.0 0.2 -1.7 5.0 r1.7 3.0 0.4 2.1 

 III 2.7 -0.4 -2.9 3.6 0.9 0.9 3.9 2.0 

 IV 3.1 -0.4 -3.4 3.6 1.8 0.5 4.7 2.0 

 ANNUAL 2.5 0.3 -2.1 4.2 1.3 1.6 2.6 2.0 

 2002 I 4.7 0.5 -4.0 3.3 2.1 -1.3 6.3 1.3 

 II 3.8 0.8 -2.9 3.8 2.5 0.0 2.5 0.9 

 III 4.6 2.5 -2.0 3.7 2.1 -0.8 3.9 0.9 

 IV 3.0 2.2 -0.8 3.0 0.8 0.1 2.6 1.0 

 ANNUAL 4.0 1.5 -2.4 3.5 1.9 -0.5 3.8 1.0 

 2003 I 2.5 2.0 -0.6 3.1 0.2 0.5 2.9 1.4 

 II 3.9 2.6 -1.2 3.7 1.5 -0.2 4.0 1.3 

 III 4.9 4.2 -0.7 4.3 r2.0 -0.6 4.8 1.4 

 IV 4.9 4.7 -0.2 4.9 2.9 0.0 3.8 1.4 

 ANNUAL 4.1 3.4 -0.7 4.0 1.7 -0.1 3.9 1.4 

 --------------------------------------------------------------------------------------------------------- 

 See footnotes following Table 6. May 4, 2006 

 r=revised Source: Bureau of Labor Statistics 
17 

 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 

 2001 I 116.4 141.4 121.5 138.0 112.3 118.5 108.0 114.6 

 II 118.0 141.9 120.2 138.8 r112.1 117.6 111.7 115.4 

 III 118.5 140.8 118.8 139.5 r112.4 117.7 112.1 115.6 

 IV 120.3 141.2 117.4 140.6 r113.4 116.8 114.7 116.0 

 ANNUAL 118.3 141.3 119.5 139.2 112.6 117.6 111.6 115.4 

 2002 I 122.3 142.5 116.5 142.7 r114.7 116.6 115.0 116.0 

 II 122.6 143.0 116.6 144.2 r115.1 117.6 114.8 116.6 

 III 123.8 144.1 116.4 144.8 114.9 117.0 116.7 116.9 

 IV 123.8 144.1 116.4 144.9 r114.4 117.1 117.8 117.3 

 ANNUAL 123.1 143.4 116.5 144.2 114.8 117.1 116.1 116.7 

 2003 I 125.0 144.8 115.9 147.0 114.9 117.6 118.3 117.9 

 II 126.9 146.5 115.4 149.2 r116.6 117.6 118.7 118.0 

 III 129.9 150.2 115.6 151.1 r117.3 116.3 121.7 118.3 

 IV 130.1 151.2 116.3 152.1 r117.8 117.0 121.3 118.6 

 ANNUAL r128.0 148.2 r115.8 r149.9 116.6 117.1 120.0 118.2 

 --------------------------------------------------------------------------------------------------------- 

 Percent change from previous quarter at annual rate(5) 

 2001 I -0.6 -1.1 -0.6 6.7 2.8 7.3 -5.7 2.5 

 II 5.6 1.2 -4.1 2.3 r-0.5 -3.1 14.4 2.7 

 III 1.7 -2.9 -4.5 2.1 r1.0 0.4 1.3 0.7 

 IV 6.2 1.2 -4.7 3.1 r3.5 -2.9 9.8 1.5 

 ANNUAL 2.4 0.4 -2.0 3.9 1.1 1.4 2.6 1.9 

 2002 I 6.8 3.5 -3.1 6.1 r4.7 -0.7 1.1 0.0 

 II 0.9 1.4 0.5 4.4 r1.4 3.5 -0.7 2.0 

 III 4.0 3.1 -0.8 1.7 r-0.6 -2.2 6.6 0.9 

 IV 0.1 0.1 0.1 0.3 r-2.0 0.3 3.8 1.6 

 ANNUAL 4.1 1.5 -2.5 3.6 2.0 -0.5 4.0 1.1 

 2003 I 3.8 2.0 -1.7 5.9 r1.9 2.0 1.8 1.9 

 II 6.3 4.7 -1.5 6.2 r6.0 -0.1 1.4 0.4 

 III 9.8 10.4 0.6 5.0 r2.5 -4.3 10.6 1.0 

 IV 0.5 2.8 2.2 2.8 r1.7 2.2 -1.5 0.8 

 ANNUAL 3.9 3.3 -0.6 4.0 1.6 0.0 3.4 1.3 

 --------------------------------------------------------------------------------------------------------- 

 Percent change from corresponding quarter of previous year 

 2001 I 2.4 1.9 -0.5 4.5 1.0 2.0 1.3 1.8 

 II 1.9 0.4 -1.6 4.8 r1.4 2.8 0.6 2.0 

 III 2.6 -0.2 -2.7 3.3 r0.7 0.7 4.0 1.8 

 IV 3.2 -0.4 -3.5 3.5 1.7 0.3 4.7 1.9 

 ANNUAL 2.4 0.4 -2.0 3.9 1.1 1.4 2.6 1.9 

 2002 I 5.1 0.7 -4.1 3.4 r2.1 -1.6 6.5 1.2 

 II 3.9 0.8 -3.0 3.9 r2.6 0.1 2.8 1.0 

 III 4.4 2.3 -2.0 3.8 2.2 -0.6 4.1 1.1 

 IV 2.9 2.0 -0.8 3.1 r0.8 0.2 2.7 1.1 

 ANNUAL 4.1 1.5 -2.5 3.6 2.0 -0.5 4.0 1.1 

 2003 I 2.2 1.7 -0.5 3.1 r0.2 0.9 2.8 1.6 

 II 3.5 2.5 -1.0 3.5 1.3 0.0 3.4 1.2 

 III 4.9 4.2 -0.7 4.3 2.1 -0.6 4.3 1.2 

 IV 5.0 4.9 -0.1 5.0 3.0 -0.1 3.0 1.0 

 ANNUAL 3.9 3.3 -0.6 4.0 1.6 0.0 3.4 1.3 

 --------------------------------------------------------------------------------------------------------- 

 See footnotes following Table 6. May 4, 2006 

 r=revised Source: Bureau of Labor Statistics 
18 

 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 

 2001 I 135.2 135.5 100.3 138.1 112.4 102.1 

 II 136.3 133.6 98.0 137.4 r111.0 100.8 

 III 137.0 131.3 95.8 137.0 r110.4 100.0 

 IV 140.0 129.5 92.5 139.0 r112.1 99.3 

 ANNUAL 137.1 132.5 96.6 137.9 111.5 100.6 

 2002 I 143.3 130.1 90.8 144.6 r116.2 100.9 

 II 145.5 131.6 90.4 147.6 r117.8 101.4 

 III 147.4 132.0 89.5 149.1 118.3 101.1 

 IV 148.5 131.2 88.4 150.2 r118.5 101.2 

 ANNUAL 146.2 131.2 89.8 147.8 117.7 101.1 

 2003 I 151.1 131.3 86.9 156.6 122.4 103.7 

 II 152.6 130.5 85.5 159.1 r124.3 104.3 

 III 156.5 131.8 84.2 161.5 r125.4 103.2 

 IV 157.6 133.8 84.9 163.2 r126.4 103.6 

 ANNUAL 154.4 131.8 85.4 160.1 124.6 103.7 

 -------------------------------------------------------------------------------------------------- 

 Percent change from previous quarter at annual rate(5) 

 2001 I -0.7 -7.2 -6.6 4.1 0.2 4.8 

 II 3.4 -5.7 -8.7 -2.1 r-4.8 -5.3 

 III 2.0 -6.8 -8.6 -1.0 r-2.0 -2.9 

 IV 9.2 -5.3 -13.3 5.9 r6.3 -3.0 

 ANNUAL 2.0 -4.7 -6.5 2.3 -0.5 0.3 

 2002 I 9.7 2.1 -6.9 17.1 15.4 6.7 

 II 6.4 4.6 -1.7 8.6 r5.4 2.1 

 III 5.4 1.3 -3.9 4.1 r1.8 -1.2 

 IV 2.9 -2.4 -5.2 3.1 r0.7 0.2 

 ANNUAL 6.6 -0.9 -7.1 7.3 5.6 0.6 

 2003 I 7.1 0.3 -6.4 18.1 r13.7 10.2 

 II 4.1 -2.5 -6.3 6.7 r6.5 2.5 

 III 10.6 3.9 -6.0 6.1 r3.6 -4.0 

 IV 2.8 6.4 3.5 4.2 r3.0 1.3 

 ANNUAL 5.6 0.5 -4.9 8.3 5.9 2.5 

 -------------------------------------------------------------------------------------------------- 

 Percent change from corresponding quarter of previous year 

 2001 I 1.6 -2.2 -3.7 3.7 0.2 2.0 

 II 1.5 -4.5 -5.9 3.6 r0.3 2.1 

 III 2.1 -5.7 -7.7 0.8 -1.8 -1.3 

 IV 3.4 -6.3 -9.3 1.7 r-0.2 -1.7 

 ANNUAL 2.0 -4.7 -6.5 2.3 -0.5 0.3 

 2002 I 6.0 -4.0 -9.4 4.7 r3.4 -1.2 

 II 6.8 -1.5 -7.7 7.5 6.1 0.7 

 III 7.6 0.6 -6.6 8.8 7.1 1.1 

 IV 6.0 1.3 -4.4 8.1 5.7 1.9 

 ANNUAL 6.6 -0.9 -7.1 7.3 5.6 0.6 

 2003 I 5.4 0.9 -4.3 8.3 5.3 2.7 

 II 4.9 -0.8 -5.4 7.8 5.5 2.8 

 III 6.1 -0.2 -6.0 8.4 6.0 2.1 

 IV 6.1 2.0 -3.9 8.6 6.6 2.4 

 ANNUAL 5.6 0.5 -4.9 8.3 5.9 2.5 

 -------------------------------------------------------------------------------------------------- 

 See footnotes following Table 6. May 4, 2006 

 r=revised Source: Bureau of Labor Statistics 
19 

 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 

 2001 I 151.3 161.2 106.6 136.3 110.9 90.1 

 II 152.5 158.3 103.9 135.8 r109.8 89.1 

 III 153.5 154.5 100.7 135.5 r109.2 88.3 

 IV 156.4 151.1 96.6 137.9 r111.3 88.2 

 ANNUAL 153.3 156.3 101.9 136.4 110.3 88.9 

 2002 I 161.1 152.5 94.7 141.9 r114.1 88.1 

 II 164.4 155.2 94.4 145.0 r115.7 88.2 

 III 167.6 156.5 93.4 146.0 115.9 87.1 

 IV 170.6 156.3 91.7 147.3 r116.2 86.4 

 ANNUAL 165.9 155.1 93.5 145.0 115.5 87.4 

 2003 I 173.8 156.6 90.1 155.0 121.1 89.2 

 II 175.9 155.9 88.6 157.6 r123.1 89.6 

 III 182.4 158.9 87.1 160.1 r124.3 87.8 

 IV 184.0 162.6 88.3 161.9 r125.4 88.0 

 ANNUAL 179.0 158.5 88.5 158.6 123.4 88.6 

 -------------------------------------------------------------------------------------------------- 

 Percent change from previous quarter at annual rate(5) 

 2001 I -1.7 -9.0 -7.4 2.5 -1.3 4.2 

 II 3.2 -6.9 -9.8 -1.3 r-4.1 -4.4 

 III 2.6 -9.3 -11.6 -0.8 r-1.9 -3.4 

 IV 7.9 -8.5 -15.2 7.2 r7.6 -0.7 

 ANNUAL 1.3 -5.9 -7.2 1.6 -1.2 0.2 

 2002 I 12.5 3.6 -7.9 12.1 10.5 -0.4 

 II 8.4 7.2 -1.1 9.0 r5.8 0.5 

 III 8.1 3.5 -4.2 2.9 r0.7 -4.8 

 IV 7.2 -0.5 -7.2 3.7 r1.3 -3.3 

 ANNUAL 8.2 -0.8 -8.3 6.4 4.7 -1.7 

 2003 I 7.8 0.7 -6.6 22.4 r17.9 13.6 

 II 5.0 -1.8 -6.5 6.9 r6.7 1.8 

 III 15.4 8.0 -6.5 6.4 r3.9 -7.8 

 IV 3.7 9.5 5.6 4.8 r3.6 1.0 

 ANNUAL 7.9 2.2 -5.3 9.4 6.9 1.4 

 -------------------------------------------------------------------------------------------------- 

 Percent change from corresponding quarter of previous year 

 2001 I 0.8 -2.5 -3.3 2.2 -1.2 1.3 

 II 0.7 -5.4 -6.1 3.0 r-0.3 2.2 

 III 1.4 -7.3 -8.6 -0.1 -2.7 -1.5 

 IV 3.0 -8.4 -11.1 1.8 0.0 -1.1 

 ANNUAL 1.3 -5.9 -7.2 1.6 -1.2 0.2 

 2002 I 6.5 -5.4 -11.2 4.1 2.9 -2.2 

 II 7.8 -2.0 -9.1 6.7 5.4 -1.0 

 III 9.2 1.3 -7.3 7.7 6.1 -1.4 

 IV 9.0 3.4 -5.1 6.8 4.5 -2.0 

 ANNUAL 8.2 -0.8 -8.3 6.4 4.7 -1.7 

 2003 I 7.9 2.7 -4.8 9.2 r6.2 1.3 

 II 7.0 0.5 -6.1 8.7 6.4 1.6 

 III 8.8 1.5 -6.7 9.6 r7.2 0.7 

 IV 7.9 4.0 -3.6 9.9 7.9 1.9 

 ANNUAL 7.9 2.2 -5.3 9.4 6.9 1.4 

 -------------------------------------------------------------------------------------------------- 

 See footnotes following Table 6. May 4, 2006 

 r=revised Source: Bureau of Labor Statistics 
20 

 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 

 2001 I 119.7 108.7 90.8 139.2 113.3 116.3 

 II 120.5 107.5 89.2 138.0 r111.6 114.5 

 III 120.5 106.7 88.5 137.9 r111.2 114.5 

 IV 123.5 106.5 86.2 139.3 r112.4 112.8 

 ANNUAL 121.0 107.3 88.7 138.6 112.1 114.6 

 2002 I 125.6 106.8 85.1 148.1 r119.1 117.9 

 II 127.1 107.4 84.5 150.9 r120.4 118.7 

 III 127.9 107.1 83.8 153.3 121.6 119.8 

 IV 126.9 105.9 83.4 154.2 r121.7 121.5 

 ANNUAL 126.9 106.8 84.2 151.6 120.7 119.5 

 2003 I 128.9 105.8 82.1 158.1 123.5 122.7 

 II 129.8 104.9 80.9 160.5 r125.4 123.7 

 III 131.3 104.7 79.8 162.8 r126.4 124.0 

 IV 132.1 105.4 79.8 163.8 r126.8 124.0 

 ANNUAL 130.5 105.2 80.6 161.3 125.5 123.6 

 -------------------------------------------------------------------------------------------------- 

 Percent change from previous quarter at annual rate(5) 

 2001 I -0.1 -5.2 -5.2 7.9 3.9 7.9 

 II 2.9 -4.1 -6.8 -3.4 r-6.0 -6.1 

 III -0.1 -3.3 -3.2 -0.3 r-1.4 -0.2 

 IV 10.4 -0.6 -10.0 4.1 r4.5 -5.7 

 ANNUAL 2.3 -3.2 -5.4 4.0 1.2 1.7 

 2002 I 6.9 1.3 -5.3 27.6 r25.9 19.4 

 II 4.9 2.1 -2.7 7.7 r4.5 2.6 

 III 2.5 -1.0 -3.4 6.5 r4.2 3.9 

 IV -3.0 -4.6 -1.7 2.5 r0.1 5.6 

 ANNUAL 4.8 -0.5 -5.1 9.4 7.6 4.3 

 2003 I 6.2 -0.2 -6.0 10.3 r6.2 3.9 

 II 2.9 -3.2 -6.0 6.4 r6.2 3.3 

 III 4.7 -0.8 -5.3 5.7 r3.2 1.0 

 IV 2.5 2.6 0.1 2.5 r1.4 -0.1 

 ANNUAL 2.9 -1.5 -4.2 6.4 4.0 3.4 

 -------------------------------------------------------------------------------------------------- 

 Percent change from corresponding quarter of previous year 

 2001 I 2.3 -2.2 -4.4 6.7 3.2 4.2 

 II 2.0 -3.5 -5.4 5.1 r1.7 3.0 

 III 2.5 -3.6 -5.9 3.1 0.5 0.6 

 IV 3.2 -3.3 -6.3 2.0 0.2 -1.2 

 ANNUAL 2.3 -3.2 -5.4 4.0 1.2 1.7 

 2002 I 4.9 -1.7 -6.3 6.4 5.1 1.4 

 II 5.5 -0.1 -5.3 9.3 r7.9 3.6 

 III 6.2 0.4 -5.4 11.1 9.4 4.7 

 IV 2.8 -0.6 -3.3 10.7 r8.2 7.7 

 ANNUAL 4.8 -0.5 -5.1 9.4 7.6 4.3 

 2003 I 2.6 -0.9 -3.5 6.7 3.7 4.0 

 II 2.1 -2.3 -4.3 6.4 4.1 4.2 

 III 2.7 -2.2 -4.8 6.2 3.9 3.4 

 IV 4.1 -0.4 -4.3 6.2 4.2 2.0 

 ANNUAL 2.9 -1.5 -4.2 6.4 4.0 3.4 

 -------------------------------------------------------------------------------------------------- 

 See footnotes following Table 6. May 4, 2006 

 r=revised Source: Bureau of Labor Statistics 
21 

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 

 2001 I 122.5 151.9 124.0 135.4 110.2 110.5 109.2 110.2 87.4 108.1 

 II 123.4 151.1 122.4 136.7 r110.5 110.8 111.6 111.0 86.9 108.9 

 III 123.6 149.4 120.8 137.8 r111.1 111.5 114.1 112.2 79.0 109.2 

 IV 124.4 148.2 119.2 139.2 r112.3 111.9 115.7 113.0 75.5 109.6 

 ANNUAL 123.5 150.2 121.6 137.3 111.0 111.2 112.6 111.6 82.2 108.9 

 2002 I 125.9 149.3 118.5 140.1 r112.6 111.2 113.0 111.7 85.8 109.4 

 II 127.9 151.3 118.4 141.9 r113.2 111.0 110.7 110.9 94.5 109.4 

 III 129.1 152.2 117.9 142.7 113.3 110.6 110.0 110.5 100.3 109.5 

 IV 130.1 153.0 117.6 143.2 r113.0 110.1 109.6 110.0 111.2 110.1 

 ANNUAL 128.2 151.5 118.1 142.0 113.0 110.7 110.8 110.7 98.0 109.6 

 2003 I 130.5 152.4 116.7 144.6 113.0 110.8 111.4 111.0 107.7 110.7 

 II 132.9 154.5 116.2 147.1 r114.9 110.7 110.4 110.6 113.6 110.9 

 III 135.2 157.1 116.2 148.9 r115.6 110.1 110.8 110.3 119.8 111.1 

 IV 136.1 158.9 116.8 149.8 r116.0 110.1 110.7 110.2 124.6 111.5 

 ANNUAL 133.7 155.7 116.5 147.6 114.9 110.4 110.8 110.5 116.5 111.0 

 ---------------------------------------------------------------------------------------------------------- 

 Percent change from previous quarter at annual rate(5) 

 2001 I 1.3 -1.1 -2.4 3.3 -0.5 1.9 10.5 4.1 -34.1 0.6 

 II 2.8 -2.2 -4.8 3.7 r0.9 0.9 9.2 3.1 -2.5 2.7 

 III 0.8 -4.4 -5.1 3.4 r2.3 2.6 8.9 4.3 -31.8 1.3 

 IV 2.5 -3.0 -5.4 4.2 r4.6 1.6 5.9 2.8 -16.3 1.4 

 ANNUAL 1.6 -0.9 -2.5 4.0 1.2 2.4 8.1 3.9 -24.3 1.3 

 2002 I 5.1 2.9 -2.1 2.4 r1.0 -2.6 -9.0 -4.4 66.8 -0.8 

 II 6.2 5.6 -0.6 5.2 r2.1 -0.9 -7.9 -2.9 46.9 0.1 

 III 3.8 2.3 -1.4 2.5 r0.2 -1.2 -2.4 -1.6 27.0 0.5 

 IV 3.2 2.0 -1.1 1.2 r-1.1 -1.9 -1.6 -1.8 50.9 1.9 

 ANNUAL 3.9 0.9 -2.9 3.4 1.8 -0.4 -1.6 -0.7 19.2 0.6 

 2003 I 1.4 -1.6 -2.9 4.1 r0.2 2.6 6.5 3.7 -11.8 2.2 

 II 7.4 5.6 -1.7 6.9 r6.7 -0.5 -3.2 -1.2 23.6 0.8 

 III 7.3 7.1 -0.2 5.1 r2.6 -2.1 1.2 -1.2 23.7 0.9 

 IV 2.5 4.7 2.1 2.4 r1.3 -0.1 -0.4 -0.2 17.0 1.4 

 ANNUAL 4.3 2.8 -1.4 4.0 1.6 -0.3 0.0 -0.2 18.9 1.3 

 ---------------------------------------------------------------------------------------------------------- 

 Percent change from corresponding quarter of previous year 

 2001 I 1.7 1.1 -0.6 4.4 1.0 2.6 7.2 3.8 -23.7 1.2 

 II 1.9 0.0 -1.9 4.8 r1.4 2.8 7.8 4.1 -25.0 1.3 

 III 1.4 -2.0 -3.3 3.7 1.0 2.3 8.8 4.0 -26.5 1.3 

 IV 1.8 -2.7 -4.4 3.7 1.8 1.8 8.6 3.6 -22.2 1.5 

 ANNUAL 1.6 -0.9 -2.5 4.0 1.2 2.4 8.1 3.9 -24.3 1.3 

 2002 I 2.8 -1.7 -4.4 3.4 2.2 0.6 3.5 1.4 -1.9 1.2 

 II 3.6 0.2 -3.3 3.8 2.5 0.2 -0.8 -0.1 8.7 0.5 

 III 4.4 1.9 -2.4 3.6 2.0 -0.8 -3.5 -1.5 27.0 0.3 

 IV 4.6 3.2 -1.3 2.8 0.6 -1.7 -5.3 -2.7 47.2 0.4 

 ANNUAL 3.9 0.9 -2.9 3.4 1.8 -0.4 -1.6 -0.7 19.2 0.6 

 2003 I 3.6 2.1 -1.5 3.2 r0.4 -0.4 -1.5 -0.7 25.5 1.2 

 II 3.9 2.1 -1.8 3.7 r1.5 -0.3 -0.2 -0.3 20.2 1.3 

 III 4.8 3.2 -1.5 4.3 r2.0 -0.5 0.7 -0.2 19.5 1.4 

 IV 4.6 3.9 -0.7 4.6 2.7 0.0 0.9 0.2 12.1 1.3 

 ANNUAL 4.3 2.8 -1.4 4.0 1.6 -0.3 0.0 -0.2 18.9 1.3 

 ---------------------------------------------------------------------------------------------------------- 

 See footnotes following Table 6. May 4, 2006 
22 

 r=revised Source: Bureau of Labor Statistics