Internet address: http://www.bls.gov/lpc/ USDL 06-159 

Historical, technical TRANSMISSION OF THIS 

 information: (202) 691-5606 MATERIAL IS EMBARGOED 

Current data: (202) 691-5200 UNTIL 8:30 A.M. EST, 

Media contact: (202) 691-5902 THURSDAY, FEBRUARY 2, 2006 

PRODUCTIVITY AND COSTS 

Preliminary Fourth Quarter and 

Annual Averages for 2005 

 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 fourth 

quarter and for the full year 2005. The seasonally adjusted annual rates of productivity change 

in the fourth quarter and the annual average changes were: 

 Fourth Annual averages 

 quarter 2004-2005 

Business sector -0.2 2.6 

Nonfarm business sector -0.6 2.7 

In the fourth quarter, productivity declined 0.2 percent in the business sector and 0.6 

percent in the nonfarm business sector. In both sectors, the fourth-quarter productivity decline 

was the first since the first quarter of 2001. When the annual averages for 2005 were compared 

with annual averages for 2004, productivity rose 2.6 percent in the business sector and 2.7 

percent in nonfarm businesses. 

 In the manufacturing sector, increases in productivity were: 

 Fourth Annual averages 

 quarter 2004-2005 

Manufacturing sector 3.9 4.8 

 Durable goods manufacturing 8.2 6.6 

 Nondurable goods manufacturing -1.0 2.9 
2 

Manufacturing productivity grew 3.9 percent in the fourth quarter. On an annual average 

basis, output per hour in the manufacturing sector posted a 4.8-percent increase in 2005. 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 sectors. Fourth-quarter productivity and related measures are summarized in 

table A, and annual average data in table B. Detailed information is presented in tables 1 

through 5. 

Table A. Productivity and costs: Preliminary fourth-quarter 2005 measures 

(Seasonally adjusted annual rates) 

Sector 

Productivity Output Hours 

Hourly 

compensation 

Real 

hourly 

compensation 

Unit 

labor 

costs 

 Percent change from preceding quarter 

Business -0.2 1.0 1.2 3.2 0.0 3.4 

Nonfarm business -0.6 0.9 1.5 2.8 -0.4 3.5 

Manufacturing 3.9 8.4 4.4 1.9 -1.3 -1.9 

 Durable 8.2 13.7 5.1 1.2 -1.9 -6.4 

 Nondurable -1.0 2.1 3.2 2.9 -0.3 4.0 

 Percent change from same quarter a year ago 

Business 2.2 3.5 1.3 3.1 -0.6 0.9 

Nonfarm business 2.3 3.6 1.2 3.3 -0.4 1.0 

Manufacturing 4.1 4.1 0.0 4.1 0.4 0.0 

 Durable 6.6 7.4 0.8 3.6 -0.1 -2.8 

 Nondurable 1.3 -0.1 -1.4 4.8 1.1 3.4 

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 8). 
3 

THIRD-TO-FOURTH QUARTER CHANGES, 2005 

Business 

 Productivity in the business sector decreased by 0.2 percent in the fourth quarter of 2005, 

reflecting increases of 1.0 percent in output and 1.2 percent in hours of all persons (seasonally 

adjusted annual rates). Output per hour had increased 5.2 percent in the third quarter of 2005, as 

output increased 4.8 percent and hours decreased 0.4 percent. The fourth-quarter decline in 

business sector productivity was the first since the first quarter of 2001, when it fell 0.5 percent. 

 Hourly compensation grew 3.2 percent in the fourth quarter of 2005, down from a 4.6-

percent increase one quarter earlier. This measure includes wages and salaries, supplements, 

employer contributions to employee-benefit plans, and taxes. Real hourly compensation, which 

takes into account changes in consumer prices, was unchanged in the fourth quarter of 2005, 

after declining 0.5 percent in the third quarter and 4.0 percent in the second quarter. 

 Unit labor costs, which relate hourly compensation to output per hour, increased 3.4 

percent in the fourth quarter. Business sector unit labor costs had declined in the two previous 

quarters; 0.6 percent in the third quarter and 0.9 percent in the second quarter. 

Nonfarm business 

In the nonfarm business sector, productivity decreased 0.6 percent in the fourth quarter of 

2005, as output grew 0.9 percent and hours of all persons grew 1.5 percent (seasonally adjusted 

annual rates). Productivity had increased 4.5 percent in the third quarter of 2005, reflecting a 

4.7-percent rise in output and a 0.1-percent rise in hours of all persons (table 2). The fourthquarter 0.6-percent decrease in productivity was the first since the first quarter of 2001 (-0.4 

percent), and the largest since the third quarter of 2000 (-0.9 percent). 

 Hourly compensation in the nonfarm business sector rose 2.8 percent in the fourth quarter 

of 2005, following a 4.1-percent increase in the third quarter. When changes in consumer prices 

were taken into account, real hourly compensation declined 0.4 percent during the fourth quarter 

of 2005. This was the third consecutive decrease in this measure—real compensation per hour 

declined 1.0 percent in the third quarter and 3.1 percent in the second quarter of 2005. 

Unit labor costs increased 3.5 percent in the fourth quarter of 2005, after falling 0.5 

percent in the third quarter and 1.2 percent in the second quarter. The implicit price deflator for 

nonfarm business output increased 3.2 percent in the fourth quarter, after increasing 3.5 percent 

one quarter earlier. 

Manufacturing 

Manufacturing productivity grew 3.9 percent (seasonally adjusted annual rate) in the 

fourth quarter of 2005 as output increased 8.4 percent and hours increased 4.4 percent (table 3). 

The output increase was the largest since the fourth quarter of 1997 (9.3 percent) and the hours 

increase was the first since the first quarter of 2004, when hours increased 2.4 percent. In the 

third quarter, manufacturing productivity had increased 3.7 percent, reflecting a 2.6-percent rise 
4 

in output and a 1.0-percent decline in hours. In durable goods manufacturing, productivity rose 

8.2 percent in the fourth quarter as output grew 13.7 percent and hours increased 5.1 percent 

(table 4). Among nondurable goods manufacturers, productivity decreased 1.0 percent in the 

fourth quarter as output rose 2.1 percent and hours at work increased 3.2 percent (table 5). 

 Average hourly compensation of manufacturing workers increased 1.9 percent in the 

fourth quarter of 2005, reflecting increases in hourly compensation of 1.2 percent in durable 

goods manufacturing and 2.9 percent in nondurable goods manufacturing. When the increase in 

consumer prices was taken into account, real hourly compensation in total manufacturing fell 1.3 

percent. 

Unit labor costs for the manufacturing sector fell 1.9 percent in fourth-quarter 2005. In 

durable goods manufacturing, unit labor costs fell 6.4 percent, and in nondurable goods 

manufacturing unit labor costs increased 4.0 percent. 
5 

ANNUAL AVERAGE CHANGES, 2004-2005 

Business 

Business sector productivity increased 2.6 percent when the annual average for 2005 was 

compared with the annual average for 2004 (table B). Output increased 4.0 percent and hours of 

all persons engaged in the sector rose 1.3 percent. The 2.6-percent increase followed a 2002-

2004 period with above-average annual productivity growth of 3.8 percent, and is more in-line 

with the productivity trend from 1995 to 2001, 2.7 percent. 

 Table B. Annual average changes in productivity and related measures, 1996-2005 

 Measure 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 

 Business: 

 Productivity ...................... 3.0 1.9 2.8 3.0 2.8 2.5 4.0 3.9 3.4 2.6 

 Output ............................... 4.6 5.3 4.8 5.1 3.9 0.3 1.5 3.4 4.8 4.0 

 Hours ................................ 1.6 3.3 2.0 2.1 1.1 -2.2 -2.4 -0.5 1.3 1.3 

 Hourly compensation........ 3.5 3.2 6.1 4.8 7.0 4.2 3.4 3.9 4.6 5.1 

 Real hourly compensation 

............................................ 

0.8 1.1 4.6 2.7 3.5 1.4 1.8 1.6 1.9 1.7 

 Unit labor costs ................ 0.5 1.3 3.2 1.8 4.0 1.6 -0.5 0.0 1.2 2.5 

 Nonfarm Business: 

 Productivity ...................... 2.7 1.6 2.8 2.8 2.7 2.5 4.0 3.8 3.4 2.7 

 Output ............................... 4.5 5.2 5.0 5.2 3.8 0.4 1.5 3.3 4.8 4.1 

 Hours ................................ 1.8 3.5 2.1 2.3 1.1 -2.0 -2.5 -0.5 1.4 1.4 

 Hourly compensation........ 3.4 3.1 6.0 4.6 7.0 4.0 3.5 4.0 4.5 5.2 

 Real hourly compensation 

............................................ 

0.7 0.9 4.5 2.5 3.6 1.1 1.9 1.6 1.8 1.8 

 Unit labor costs ................ 0.7 1.4 3.1 1.8 4.2 1.4 -0.5 0.2 1.1 2.4 

 Manufacturing: 

 Productivity ...................... 3.6 3.6 4.9 3.6 4.8 2.0 6.6 5.6 5.4 4.8 

 Output ............................... 3.2 5.5 4.6 3.0 3.1 -4.7 -0.9 0.5 5.0 3.8 

 Hours ................................ -0.4 1.8 -0.3 -0.6 -1.6 -6.5 -7.1 -4.9 -0.4 -0.9 

 Hourly compensation........ 1.9 2.6 5.8 3.9 9.2 2.3 7.3 8.3 2.2 6.6 

 Real hourly compensation 

............................................ 

-0.8 0.5 4.3 1.8 5.6 -0.5 5.6 5.8 -0.5 3.2 

 Unit labor costs ................ -1.6 -0.9 0.9 0.3 4.2 0.3 0.6 2.5 -3.1 1.7 
6 

Hourly compensation in the business sector increased 5.1 percent in 2005, following a 

4.6-percent increase in 2004. Real hourly compensation increased 1.7 percent; 2005 was the 

fifth consecutive year with a real hourly compensation increase of less than 2.0 percent. Unit 

labor costs in the business sector rose 2.5 percent in 2005, more than in any year since 2000, 

when this measure grew 4.0 percent. The implicit price deflator for the business sector rose 2.6 

percent in 2005 and 2.4 percent in 2004. 

Nonfarm business

Productivity increased 2.7 percent in the nonfarm business sector in 2005, reflecting 

increases of 4.1 percent in output and 1.4 percent in hours. Like the more comprehensive 

business sector, nonfarm productivity from 2001 to 2004 had grown at an above-average rate— 

3.7 percent. Productivity had been growing at an annual rate of 2.5 percent from 1995 to 2001. 

In 2005, hourly compensation increased 5.2 percent, following a 4.5-percent rise in 2004. 

When the increase in consumer prices was taken into account, real hourly compensation rose 1.8 

percent in both 2005 and 2004. 

Unit labor costs in the nonfarm business sector increased 2.4 percent in 2005—more than 

in any year since 2000, when unit labor costs increased 4.2 percent. The implicit price deflator 

for nonfarm business rose 2.8 percent in 2005 and 2.1 percent in 2004. 

Manufacturing 

 In manufacturing, labor productivity rose 4.8 percent in 2005, as output grew 3.8 percent 

and hours of all persons declined 0.9 percent (table B). Productivity increased 5.4 percent in 

2004, reflecting a 5.0-percent output increase and a 0.4-percent decline in hours. There was a 

6.6-percent increase in durable goods manufacturing productivity in 2005, as output increased 

6.3 percent and hours edged down 0.2 percent. Output per hour increased 2.9 percent in 

nondurable goods manufacturing, as output rose 0.7 percent and hours fell 2.1 percent. 

 Hourly compensation of manufacturing workers increased 6.6 percent in 2005, more than 

the 2.2-percent growth rate in 2004, but lower than the 8.3-percent increase in 2003 and the 7.3-

percent increase in 2002. In 2005, hourly compensation rose 6.4 percent in durable goods 

manufacturing and 7.0 percent in nondurable good manufacturing. Taking into account the rise 

in consumer prices, real hourly compensation in manufacturing rose 3.2 percent in 2005 and fell 

0.5 percent one year earlier. 

 

Unit labor costs in manufacturing rose 1.7 percent in 2005, after decreasing 3.1 percent in 

calendar year 2004; unit labor costs increased 2.5 percent in 2003. Unit labor costs in durable 

goods manufacturing fell slightly in 2005, 0.2 percent, compared with a 4.0-percent rise in unit 

labor costs in nondurable goods manufacturing. 
7 

Revised Measures

 Current and previous measures for the third quarter of 2005 for the business, nonfarm 

business, and manufacturing sectors are compared in table C. In the business and nonfarm 

business sectors, productivity and output growth in the third quarter were lower than reported on 

Dec. 6, and hours worked remained the same. In both of these sectors, hourly compensation also 

grew more than reported in December. Hourly compensation was revised up and productivity 

was revised down, both contributing to a decline in unit labor costs in the third quarter that was 

less than previously reported. 

Table C. Previous and revised productivity and related measures 

Quarterly percent change at seasonally adjusted annual rate 

In the manufacturing sector, output and productivity were revised up in the third quarter, 

and hours of all persons were unchanged. Growth in hourly compensation was revised up more 

than productivity, and unit labor costs edged up slightly (0.1 percent) rather than declining by 

0.3 percent. 

Manufacturing sector productivity and costs measures reflect revised source data. 

Annual indexes of real output for manufacturing and its durable and nondurable goods 

components were revised by BLS due to incorporation of revised current-dollar industry value of 

production data from the U.S. Bureau of the Census. Incorporating the revised data impacted 

both quarterly and annual measures of output, productivity, and unit labor costs back to 1987. 

The largest revisions begin in 2001, and appendix tables 1-3 display quarterly and annual data 

for manufacturing, durable manufacturing, and nondurable manufacturing beginning in 2000. 

Annual historical data for total manufacturing and its subsectors are presented in appendix tables 

4-6. Full quarterly and annual historical series are available on the BLS website. 

Sector 

Productivity Output Hours 

Hourly 

compensation 

Real 

hourly 

compensation 

Unit 

labor 

costs 

Third quarter 2005 

Business: 

 Previous ....................... 5.4 5.0 -0.4 4.2 -0.8 -1.1 

 Revised......................... 5.2 4.8 -0.4 4.6 -0.5 -0.6 

Nonfarm business: 

 Previous ....................... 4.7 4.8 0.1 3.7 -1.4 -1.0 

 Revised......................... 4.5 4.7 0.1 4.1 -1.0 -0.5 

Manufacturing: 

 Previous ....................... 3.4 2.4 -1.0 3.1 -1.9 -0.3 

 Revised......................... 3.7 2.6 -1.0 3.7 -1.3 0.1 
8 

Revised measures: Nonfinancial Corporations 

Revised third-quarter productivity and output measures for nonfinancial corporations also 

were announced today. In the third quarter of 2005, increases in productivity, output, and hours 

were virtually the same as reported on Dec. 6. Hourly compensation was revised up, resulting in 

a larger increase in unit labor costs than previously reported (table D). 

Table D. Nonfinancial corporations: Previous and revised productivity and cost measures 

Quarterly percent c anges at easonally adjusted annual rate h s s

Productivity Output Hours 

Hourly 

compensation 

Real 

hourly 

compensation 

Unit 

labor 

osts 

Unit 

profits 

Implicit 

price 

c deflator

Third quarter 2005 

Previous 3.2 4.0 0.8 4.5 -0.6 1.3 -2.9 1.7 

Revised 3.2 4.1 0.8 4.9 -0.2 1.6 -7.9 2.1 

The measure of real output for the nonfinancial corporate sector has been revised by the 

Bureau of Economic Analysis (BEA), U.S. Department of Commerce. As a result, several 

measures for this sector were revised back to the first quarter of 2002. Recent quarterly and 

annual data for nonfinancial corporations are shown in table 6. Appendix table 7 provides data 

for 2002. Full quarterly and annual historical series are available on the BLS website. 

Next release date

 The next release of Productivity and Costs is scheduled for 8:30 A.M. EST, Tuesday, 

March 7, 2006. Revised fourth-quarter and annual average measures for business, nonfarm 

business, and manufacturing will be released at that time. 
9 

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 annualweighted 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 
10 

and the labor time involved in its production. 

They show the changes from period to period in 

the amount of goods and services produced per 

hour. Although these measures relate output to 

hours at work of all persons engaged in a 

sector, they do not measure the specific 

contribution of labor, capital, or any other 

factor of production. Rather, they reflect the 

joint effects of many influences, including 

changes in technology; capital investment; level 

of output; utilization of capacity, energy, and 

materials; the organization of production; 

managerial skill; and the characteristics and 

effort of the work force. 

Labor Compensation: Estimates of labor 

compensation by major sector, required for 

measures of hourly compensation and unit 

labor costs, are based primarily on employee 

compensation data from the NIPA, prepared by 

the BEA. The compensation of employees in 

general government, nonprofit institutions and 

private households are subtracted from 

compensation of domestic employees to derive 

employee compensation for the business sector. 

The labor compensation of proprietors cannot 

be explicitly identified and must be estimated. 

This is done by assuming that proprietors have 

the same hourly compensation as employees in 

the same sector. The quarterly labor 

productivity and cost measures do not contain 

estimates of compensation for unpaid family 

workers. 

Unit Labor Costs: The measures of unit labor 

costs in this release describe the relationship 

between compensation per hour and 

productivity, or real output per hour, and can be 

used as an indicator of inflationary pressure on 

producers. Increases in hourly compensation 

increase unit labor costs; labor productivity 

increases offset compensation increases and 

lower unit labor costs. 

Presentation of the data: The quarterly data 

in this release are presented in three ways; as 

index number series where 1992=100, as 

percent changes from the corresponding quarter 

of the previous year, and as percent changes 

from the previous quarter presented at a 

compound annual rate. Annual data are 

presented both as index number series and 

percent changes from the previous year. 

 The index numbers and rates of change 

reported in the productivity and costs news 

release are rounded to one decimal place. All 

percent changes in this release and on the BLS 

web site are calculated using index numbers to 

three decimal places. These index numbers are 

available at the BLS web site, 

http://www.bls.gov/data/home/htm, or by 

contacting the BLS Division of Major Sector 

Productivity. (Telephone 202—691-5606 or 

email DPRWEB@BLS.GOV) 

Information in this release will be made 

available to sensory-impaired individuals upon 

request. Voice phone: 202-691-5606; Federal 

Relay Service number: 1-800-877-8339. 
11 

 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 

 2003 I 125.6 144.6 115.2 147.8 115.5 117.7 116.4 117.2 

 II 127.9 146.4 114.5 150.3 117.3 117.5 117.2 117.4 

 III 130.5 149.8 114.8 152.0 118.0 116.4 120.3 117.9 

 IV 130.6 150.8 115.5 152.8 118.4 117.0 120.5 118.3 

 ANNUAL 128.6 147.9 115.0 150.7 117.3 117.2 118.6 117.7 

 2004 I 131.7 152.6 115.9 154.4 118.5 117.3 123.0 119.4 

 II 132.8 154.1 116.1 155.7 118.2 117.2 126.1 120.5 

 III 133.3 155.8 116.9 158.2 119.6 118.7 124.2 120.7 

 IV 134.3 157.2 117.1 162.5 121.8 121.0 122.3 121.5 

 ANNUAL 133.0 154.9 116.5 157.7 119.5 118.6 123.9 120.6 

 2005 I 135.3 158.9 117.5 164.4 122.5 121.5 123.6 122.3 

 II 135.5 160.4 118.4 164.3 121.2 121.2 126.2 123.1 

 III r137.3 r162.3 r118.3 r166.2 r121.1 r121.1 r129.1 r124.1 

 IV 137.2 162.8 118.6 167.5 121.1 122.1 130.0 125.0 

 ANNUAL 136.5 161.1 118.0 165.8 121.6 121.5 127.2 123.6 

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

 Percent change from previous quarter at annual rate(5) 

 2003 I 2.8 1.7 -1.1 5.5 1.3 2.6 0.5 1.8 

 II 7.6 4.9 -2.6 7.0 6.5 -0.6 2.8 0.6 

 III 8.4 9.9 1.3 4.5 2.3 -3.6 10.7 1.6 

 IV 0.3 2.6 2.3 2.3 1.4 2.1 0.9 1.6 

 ANNUAL 3.9 3.4 -0.5 3.9 1.6 0.0 3.7 1.4 

 2004 I 3.4 4.9 1.5 4.2 0.3 0.8 8.6 3.7 

 II 3.4 4.0 0.6 3.3 -1.0 -0.1 10.3 3.8 

 III 1.4 4.4 3.0 6.5 4.8 5.0 -5.9 0.7 

 IV 3.1 3.6 0.5 11.3 7.5 7.9 -6.0 2.4 

 ANNUAL 3.4 4.8 1.3 4.6 1.9 1.2 4.4 2.4 

 2005 I 2.9 4.4 1.4 4.7 2.3 1.7 4.4 2.7 

 II 0.8 4.0 3.1 -0.1 -4.0 -0.9 8.7 2.6 

 III r5.2 r4.8 -0.4 r4.6 r-0.5 r-0.6 r9.5 r3.2 

 IV -0.2 1.0 1.2 3.2 0.0 3.4 2.8 3.1 

 ANNUAL 2.6 4.0 1.3 5.1 1.7 2.5 2.7 2.6 

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

 Percent change from corresponding quarter of previous year 

 2003 I 2.4 2.0 -0.4 3.0 0.1 0.6 2.7 1.4 

 II 3.8 2.6 -1.1 3.6 1.4 -0.2 3.9 1.3 

 III 4.7 4.2 -0.5 4.3 2.0 -0.4 4.6 1.4 

 IV 4.7 4.7 0.0 4.8 2.9 0.1 3.7 1.4 

 ANNUAL 3.9 3.4 -0.5 3.9 1.6 0.0 3.7 1.4 

 2004 I 4.9 5.5 0.6 4.5 2.6 -0.4 5.7 1.9 

 II 3.8 5.3 1.4 3.6 0.8 -0.2 7.6 2.7 

 III 2.1 4.0 1.8 4.1 1.4 1.9 3.3 2.4 

 IV 2.8 4.2 1.4 6.3 2.8 3.4 1.5 2.6 

 ANNUAL 3.4 4.8 1.3 4.6 1.9 1.2 4.4 2.4 

 2005 I 2.7 4.1 1.3 6.4 3.3 3.6 0.5 2.4 

 II 2.1 4.1 2.0 5.5 2.5 3.4 0.1 2.1 

 III r3.0 4.2 1.1 r5.1 r1.2 r2.0 3.9 2.7 

 IV 2.2 3.5 1.3 3.1 -0.6 0.9 6.3 2.9 

 ANNUAL 2.6 4.0 1.3 5.1 1.7 2.5 2.7 2.6 

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

 See footnotes following Table 6. February 2, 2006 

 r=revised Source: Bureau of Labor Statistics 
12 

 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 

 2003 I 124.9 144.8 115.9 147.0 114.9 117.7 118.2 117.9 

 II 126.9 146.5 115.4 149.3 116.5 117.6 118.7 118.0 

 III 129.9 150.2 115.6 151.2 117.4 116.4 121.6 118.3 

 IV 130.1 151.2 116.2 152.2 117.9 116.9 121.3 118.6 

 ANNUAL 128.0 148.2 115.8 149.9 116.7 117.1 120.0 118.2 

 2004 I 130.8 152.8 116.8 153.5 117.8 117.3 123.5 119.6 

 II 132.2 154.5 116.8 154.9 117.6 117.1 126.5 120.6 

 III 132.7 156.3 117.8 157.2 118.8 118.5 125.3 121.0 

 IV 133.5 157.7 118.2 161.0 120.7 120.7 123.7 121.8 

 ANNUAL 132.3 155.3 117.4 156.7 118.7 118.4 124.7 120.7 

 2005 I 134.5 159.4 118.5 163.2 121.6 121.3 125.0 122.7 

 II 135.3 161.2 119.2 163.6 120.6 120.9 127.9 123.5 

 III r136.8 r163.0 r119.2 r165.2 r120.3 r120.8 r131.0 r124.5 

 IV 136.6 163.4 119.6 166.4 120.2 121.8 131.9 125.5 

 ANNUAL 135.9 161.7 119.0 164.8 120.8 121.2 128.9 124.1 

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

 Percent change from previous quarter at annual rate(5) 

 2003 I 3.1 2.0 -1.1 5.8 1.5 2.6 0.8 1.9 

 II 6.6 4.7 -1.8 6.2 5.8 -0.3 1.7 0.4 

 III 9.6 10.4 0.8 5.1 2.9 -4.1 10.2 1.0 

 IV 0.8 2.8 2.0 2.7 1.8 2.0 -1.1 0.8 

 ANNUAL 3.8 3.3 -0.5 4.0 1.6 0.2 3.2 1.3 

 2004 I 2.1 4.2 2.0 3.5 -0.5 1.3 7.4 3.6 

 II 4.5 4.6 0.1 3.7 -0.7 -0.8 10.0 3.2 

 III 1.3 4.6 3.3 6.1 4.4 4.8 -3.6 1.5 

 IV 2.5 3.9 1.4 10.2 6.4 7.6 -5.1 2.6 

 ANNUAL 3.4 4.8 1.4 4.5 1.8 1.1 3.9 2.1 

 2005 I 3.2 4.3 1.1 5.5 3.1 2.2 4.4 3.0 

 II 2.1 4.4 2.2 0.9 -3.1 -1.2 9.4 2.7 

 III r4.5 r4.7 0.1 r4.1 r-1.0 r-0.5 r10.1 r3.5 

 IV -0.6 0.9 1.5 2.8 -0.4 3.5 2.8 3.2 

 ANNUAL 2.7 4.1 1.4 5.2 1.8 2.4 3.4 2.8 

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

 Percent change from corresponding quarter of previous year 

 2003 I 2.0 1.7 -0.3 3.0 0.1 1.0 2.7 1.6 

 II 3.5 2.5 -0.9 3.5 1.3 0.1 3.2 1.2 

 III 4.8 4.2 -0.5 4.4 2.1 -0.4 4.1 1.2 

 IV 5.0 4.9 0.0 5.0 3.0 0.0 2.8 1.0 

 ANNUAL 3.8 3.3 -0.5 4.0 1.6 0.2 3.2 1.3 

 2004 I 4.7 5.5 0.7 4.4 2.5 -0.3 4.5 1.5 

 II 4.2 5.5 1.2 3.7 0.9 -0.4 6.5 2.1 

 III 2.2 4.0 1.9 4.0 1.2 1.8 3.0 2.3 

 IV 2.6 4.3 1.7 5.8 2.4 3.2 1.9 2.7 

 ANNUAL 3.4 4.8 1.4 4.5 1.8 1.1 3.9 2.1 

 2005 I 2.9 4.4 1.5 6.3 3.3 3.4 1.2 2.6 

 II 2.3 4.3 2.0 5.6 2.6 3.3 1.1 2.4 

 III 3.1 r4.3 1.2 r5.1 r1.3 r2.0 4.5 r2.9 

 IV 2.3 3.6 1.2 3.3 -0.4 1.0 6.6 3.1 

 ANNUAL 2.7 4.1 1.4 5.2 1.8 2.4 3.4 2.8 

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

 See footnotes following Table 6. February 2, 2006 

 r=revised Source: Bureau of Labor Statistics 
13 

 Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor costs, 

 seasonally adjusted 

 Real 

 Year Output per Hours Compensa- compensa- Unit 

 and hour of of all tion per tion per labor 

 quarter all persons Output persons hour (1) hour (2) costs 

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

 Indexes 1992=100 

 2003 I r151.0 r131.3 86.9 156.5 122.3 r103.7 

 II r152.6 r130.5 85.5 159.2 124.3 r104.3 

 III r156.5 r131.8 84.2 161.5 125.4 r103.2 

 IV r157.6 r133.8 84.9 163.2 126.5 r103.6 

 ANNUAL r154.4 r131.8 85.4 160.1 124.6 r103.7 

 2004 I r158.9 r135.7 85.4 159.1 122.1 r100.1 

 II r162.1 r137.9 85.1 161.1 122.3 r99.4 

 III r163.9 r139.3 85.0 164.9 124.7 r100.6 

 IV r166.2 r140.8 84.7 169.3 126.9 r101.9 

 ANNUAL r162.8 r138.4 85.0 163.6 124.0 r100.5 

 2005 I r168.2 r142.2 84.6 172.2 128.3 r102.4 

 II r169.8 r142.7 84.0 173.8 128.2 r102.4 

 III r171.4 r143.6 r83.8 r175.4 r127.8 r102.4 

 IV 173.0 146.5 84.7 176.2 127.4 101.9 

 ANNUAL 170.6 143.8 84.3 174.4 127.9 102.3 

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

 Percent change from previous quarter at annual rate(5) 

 2003 I 7.0 0.3 -6.3 17.9 13.1 10.2 

 II 4.3 r-2.5 -6.5 6.9 6.5 2.5 

 III 10.4 3.9 -5.9 5.9 3.7 -4.0 

 IV 3.0 6.4 3.3 4.3 3.4 1.3 

 ANNUAL r5.6 r0.5 -4.9 8.3 5.8 r2.5 

 2004 I 3.4 5.9 2.4 -9.7 -13.1 -12.7 

 II 8.3 6.6 -1.6 5.1 0.7 -3.0 

 III 4.4 4.1 -0.3 9.8 8.0 5.1 

 IV 5.7 4.3 -1.3 11.2 7.4 5.2 

 ANNUAL 5.4 5.0 -0.4 2.2 -0.5 -3.1 

 2005 I 4.9 4.2 -0.7 7.1 4.6 2.1 

 II 4.0 1.2 -2.6 3.8 -0.4 -0.2 

 III r3.7 r2.6 -1.0 r3.7 r-1.3 r0.1 

 IV 3.9 8.4 4.4 1.9 -1.3 -1.9 

 ANNUAL 4.8 3.8 -0.9 6.6 3.2 1.7 

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

 Percent change from corresponding quarter of previous year 

 2003 I r5.3 r0.9 -4.2 8.2 5.2 r2.7 

 II r4.9 r-0.8 -5.4 7.8 5.5 r2.8 

 III r6.1 r-0.2 -6.0 8.4 6.0 r2.1 

 IV 6.1 2.0 -3.9 8.7 6.6 2.4 

 ANNUAL r5.6 r0.5 -4.9 8.3 5.8 r2.5 

 2004 I 5.2 3.4 -1.8 1.6 -0.2 -3.4 

 II 6.2 5.7 -0.5 1.2 -1.6 -4.7 

 III 4.7 5.7 0.9 2.1 -0.6 -2.5 

 IV 5.4 5.2 -0.2 3.7 0.3 -1.6 

 ANNUAL 5.4 5.0 -0.4 2.2 -0.5 -3.1 

 2005 I 5.8 4.8 -1.0 8.3 5.1 2.3 

 II 4.7 3.4 -1.2 7.9 4.8 3.0 

 III r4.6 r3.1 -1.4 r6.4 r2.5 r1.8 

 IV 4.1 4.1 0.0 4.1 0.4 0.0 

 ANNUAL 4.8 3.8 -0.9 6.6 3.2 1.7 

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

 See footnotes following Table 6. February 2, 2006 

 r=revised Source: Bureau of Labor Statistics 
14 

 Table 4. Durable manufacturing sector: Productivity, hourly compensation, and unit labor costs, 

 seasonally adjusted 

 Real 

 Year Output per Hours Compensa- compensa- Unit 

 and hour of of all tion per tion per labor 

 quarter all persons Output persons hour (1) hour (2) costs 

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

 Indexes 1992=100 

 2003 I r173.7 r156.6 90.1 154.9 121.1 r89.2 

 II r176.0 r155.9 88.6 157.7 123.1 r89.6 

 III r182.4 r158.9 87.1 160.1 124.3 r87.8 

 IV r184.0 r162.6 88.3 161.9 125.5 r88.0 

 ANNUAL r179.0 r158.5 88.5 158.6 123.5 r88.6 

 2004 I r185.8 r165.9 89.3 155.5 119.4 r83.7 

 II r189.7 r168.7 88.9 158.2 120.1 r83.4 

 III r192.3 r171.6 89.2 162.1 122.6 r84.3 

 IV r195.7 r174.1 89.0 166.0 124.4 r84.8 

 ANNUAL r190.9 r170.1 89.1 160.4 121.6 r84.1 

 2005 I r199.2 r177.0 88.9 169.0 125.9 r84.9 

 II r201.3 r178.1 88.5 170.1 125.5 r84.5 

 III r204.5 r181.2 r88.6 r171.5 r124.9 r83.8 

 IV 208.6 187.0 89.7 172.0 124.3 82.4 

 ANNUAL 203.4 180.8 88.9 170.6 125.1 83.9 

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

 Percent change from previous quarter at annual rate(5) 

 2003 I 7.6 0.7 -6.4 22.2 17.2 13.6 

 II 5.4 -1.8 -6.9 7.3 6.9 1.8 

 III 15.2 8.0 -6.3 6.2 3.9 -7.8 

 IV 3.7 9.5 5.6 4.7 3.8 1.0 

 ANNUAL r7.9 r2.2 -5.3 9.3 6.9 r1.4 

 2004 I 4.0 8.5 4.3 -14.9 -18.1 -18.1 

 II 8.7 7.0 -1.5 6.9 2.4 -1.6 

 III 5.5 6.9 1.3 10.3 8.5 4.6 

 IV 7.3 6.1 -1.1 9.9 6.1 2.5 

 ANNUAL 6.6 7.3 0.6 1.1 -1.5 -5.2 

 2005 I 7.3 6.8 -0.5 7.5 5.1 0.2 

 II 4.3 2.6 -1.7 2.6 -1.5 -1.6 

 III r6.7 r7.0 0.3 r3.2 r-1.8 r-3.2 

 IV 8.2 13.7 5.1 1.2 -1.9 -6.4 

 ANNUAL 6.6 6.3 -0.2 6.4 2.9 -0.2 

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

 Percent change from corresponding quarter of previous year 

 2003 I r7.8 r2.7 -4.7 9.1 6.0 r1.3 

 II r7.0 r0.5 -6.1 8.7 6.4 r1.6 

 III 8.8 r1.5 -6.7 9.6 7.3 0.7 

 IV 7.9 4.0 -3.6 9.9 7.8 1.9 

 ANNUAL r7.9 r2.2 -5.3 9.3 6.9 r1.4 

 2004 I 7.0 5.9 -1.0 0.4 -1.4 -6.1 

 II 7.8 8.2 0.4 0.3 -2.5 -6.9 

 III 5.4 8.0 2.4 1.3 -1.4 -3.9 

 IV 6.3 7.1 0.7 2.5 -0.9 -3.6 

 ANNUAL 6.6 7.3 0.6 1.1 -1.5 -5.2 

 2005 I 7.2 6.7 -0.5 8.7 5.5 1.4 

 II 6.1 5.6 -0.5 7.5 4.5 1.4 

 III r6.4 5.6 -0.7 r5.8 r1.9 r-0.6 

 IV 6.6 7.4 0.8 3.6 -0.1 -2.8 

 ANNUAL 6.6 6.3 -0.2 6.4 2.9 -0.2 

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

 See footnotes following Table 6. February 2, 2006 

 r=revised Source: Bureau of Labor Statistics 
15 

 Table 5. Nondurable manufacturing sector: Productivity, hourly compensation, and unit labor costs, 

 seasonally adjusted 

 Real 

 Year Output per Hours Compensa- compensa- Unit 

 and hour of of all tion per tion per labor 

 quarter all persons Output persons hour (1) hour (2) costs 

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

 Indexes 1992=100 

 2003 I r128.8 r105.8 82.1 158.0 123.5 r122.7 

 II r129.7 r104.9 80.9 160.5 125.3 r123.7 

 III r131.2 r104.7 79.8 162.7 126.3 r124.0 

 IV r132.2 r105.4 79.7 163.9 127.0 r124.0 

 ANNUAL r130.5 r105.2 80.6 161.2 125.5 r123.6 

 2004 I r133.3 r106.1 79.6 164.1 125.9 r123.1 

 II r135.8 r107.7 79.3 164.7 125.1 r121.3 

 III r137.1 r107.8 78.7 168.1 127.1 r122.6 

 IV r138.4 r108.4 78.3 173.5 130.1 r125.4 

 ANNUAL r136.1 r107.5 79.0 167.6 127.0 r123.1 

 2005 I r139.0 r108.6 78.1 176.1 131.3 r126.7 

 II r140.4 r108.5 77.3 178.7 131.8 r127.2 

 III r140.5 r107.7 r76.7 r180.6 r131.5 r128.5 

 IV 140.2 108.3 77.3 181.9 131.5 129.7 

 ANNUAL 140.0 108.3 77.3 179.3 131.5 128.0 

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

 Percent change from previous quarter at annual rate(5) 

 2003 I 6.2 -0.2 -6.0 10.3 5.9 3.9 

 II 2.9 -3.2 -5.9 6.3 5.9 3.3 

 III 4.6 -0.8 -5.2 5.6 3.4 1.0 

 IV 3.0 2.6 -0.4 3.0 2.1 0.0 

 ANNUAL r2.9 r-1.5 -4.2 6.4 4.0 r3.4 

 2004 I 3.4 2.6 -0.8 0.5 -3.3 -2.8 

 II 7.8 6.0 -1.7 1.7 -2.6 -5.7 

 III 3.8 0.7 -3.0 8.4 6.6 4.4 

 IV 3.7 2.0 -1.6 13.7 9.7 9.6 

 ANNUAL 4.3 2.2 -2.1 3.9 1.2 -0.4 

 2005 I 2.0 0.9 -1.1 6.1 3.7 r4.0 

 II 4.0 -0.4 -4.3 5.8 1.6 1.7 

 III r0.3 r-2.8 r-3.2 r4.3 r-0.7 r4.0 

 IV -1.0 2.1 3.2 2.9 -0.3 4.0 

 ANNUAL 2.9 0.7 -2.1 7.0 3.5 4.0 

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

 Percent change from corresponding quarter of previous year 

 2003 I r2.6 r-0.9 -3.4 6.7 3.7 r4.0 

 II r2.1 r-2.3 -4.3 6.4 4.1 r4.2 

 III r2.7 r-2.2 -4.8 6.2 3.9 r3.4 

 IV 4.2 -0.4 -4.4 6.3 4.3 2.0 

 ANNUAL r2.9 r-1.5 -4.2 6.4 4.0 r3.4 

 2004 I 3.5 0.3 -3.1 3.8 2.0 0.3 

 II 4.7 2.6 -2.0 2.7 -0.2 -1.9 

 III 4.5 3.0 -1.5 3.3 0.6 -1.1 

 IV 4.7 2.8 -1.8 5.9 2.4 1.2 

 ANNUAL 4.3 2.2 -2.1 3.9 1.2 -0.4 

 2005 I 4.3 2.4 -1.8 7.4 4.3 2.9 

 II 3.4 0.8 -2.5 8.5 5.4 4.9 

 III 2.5 r-0.1 r-2.5 r7.4 r3.5 r4.8 

 IV 1.3 -0.1 -1.4 4.8 1.1 3.4 

 ANNUAL 2.9 0.7 -2.1 7.0 3.5 4.0 

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

 See footnotes following Table 6. February 2, 2006 

 r=revised Source: Bureau of Labor Statistics 
16 

 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 r130.5 r152.4 116.8 144.6 113.0 r110.8 r111.4 r111.0 r107.7 r110.7 

 II r132.8 r154.5 116.3 147.0 114.8 r110.7 r110.4 r110.6 r113.6 r110.9 

 III r135.2 r157.1 116.2 148.9 115.6 r110.1 r110.8 r110.3 r119.8 r111.1 

 IV r136.1 r158.9 116.8 149.8 116.0 r110.1 r110.7 r110.2 r124.6 r111.5 

 ANNUAL r133.7 r155.7 116.5 147.6 114.8 r110.4 r110.8 r110.5 r116.5 r111.0 

 2004 I r136.4 r160.3 117.5 150.3 115.4 r110.2 r111.2 r110.5 r130.0 r112.2 

 II r137.2 r161.7 117.8 151.7 115.2 r110.6 r111.2 r110.7 r138.3 r113.2 

 III r139.7 r165.4 118.4 154.0 116.5 r110.2 r110.0 r110.2 r139.4 r112.8 

 IV r142.7 r169.4 118.8 158.0 118.4 r110.7 r108.5 r110.1 r142.7 r113.1 

 ANNUAL r139.0 r164.2 118.1 153.5 116.4 r110.4 r110.2 r110.4 r137.7 r112.8 

 2005 I r143.6 r170.8 118.9 160.3 119.4 r111.6 r107.9 r110.6 r145.2 r113.7 

 II r145.2 r173.8 119.7 160.6 118.4 r110.6 r107.0 r109.7 r159.1 r114.1 

 III r146.3 r175.5 r120.0 r162.5 r118.4 r111.1 r109.4 r110.6 r155.8 r114.7 

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

 Percent change from previous quarter at annual rate(5) 

 2003 I r1.3 r-1.6 -2.8 3.9 -0.3 r2.6 r6.5 r3.7 r-11.8 r2.2 

 II r7.4 r5.6 -1.7 6.9 6.4 r-0.5 r-3.2 r-1.2 r23.6 r0.8 

 III r7.4 r7.1 -0.3 5.2 2.9 r-2.1 r1.2 r-1.2 r23.7 r0.9 

 IV r2.5 r4.7 2.1 2.4 1.5 r-0.1 r-0.4 r-0.2 r17.0 r1.4 

 ANNUAL r4.2 r2.8 -1.4 3.9 1.6 r-0.3 r0.0 r-0.2 r18.9 r1.3 

 2004 I r0.9 r3.6 2.6 1.5 -2.3 r0.6 r2.0 r0.9 r18.4 r2.6 

 II r2.4 r3.5 1.0 3.7 -0.7 r1.2 r0.2 r0.9 r28.0 r3.5 

 III r7.5 r9.6 1.9 6.3 4.6 r-1.1 r-4.4 r-2.0 r3.3 r-1.4 

 IV r8.6 r10.1 1.3 10.6 6.8 r1.8 r-5.3 r-0.1 r9.8 r0.9 

 ANNUAL r4.0 r5.5 1.4 4.0 1.3 r0.0 r-0.5 r-0.1 r18.1 r1.6 

 2005 I r2.8 3.3 0.5 5.9 3.5 3.1 -2.5 1.6 7.1 2.2 

 II 4.3 7.1 2.6 0.8 -3.2 -3.4 -3.1 -3.3 44.3 1.4 

 III 3.2 r4.1 0.8 r4.9 r-0.2 r1.6 r9.3 r3.6 r-7.9 r2.1 

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

 Percent change from corresponding quarter of previous year 

 2003 I r3.6 r2.1 -1.5 3.2 0.3 r-0.4 r-1.5 r-0.7 r25.5 1.2 

 II r3.9 r2.1 -1.8 3.6 1.4 r-0.3 r-0.2 r-0.3 r20.2 r1.3 

 III r4.8 r3.2 -1.5 4.3 2.1 r-0.5 r0.7 r-0.2 r19.5 r1.4 

 IV r4.6 r3.9 -0.7 4.6 2.6 r0.0 r0.9 r0.2 r12.1 r1.3 

 ANNUAL r4.2 r2.8 -1.4 3.9 1.6 r-0.3 r0.0 r-0.2 r18.9 r1.3 

 2004 I r4.5 r5.2 0.7 4.0 2.1 r-0.5 r-0.1 r-0.4 r20.7 r1.4 

 II r3.3 r4.7 1.3 3.2 0.3 r-0.1 r0.7 r0.1 r21.7 r2.1 

 III r3.3 r5.3 1.9 3.5 0.7 r0.1 r-0.7 r-0.1 r16.3 r1.5 

 IV r4.8 r6.6 1.7 5.5 2.0 r0.6 r-1.9 r-0.1 r14.5 r1.4 

 ANNUAL r4.0 r5.5 1.4 4.0 1.3 r0.0 r-0.5 r-0.1 r18.1 r1.6 

 2005 I r5.3 r6.5 1.2 6.6 3.5 r1.2 r-3.0 r0.1 r11.7 r1.3 

 II r5.8 r7.5 1.6 5.9 2.8 0.1 r-3.8 r-1.0 15.1 0.8 

 III 4.7 r6.1 1.3 r5.5 r1.6 0.7 r-0.5 r0.4 r11.8 r1.7 

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

 See footnotes following Table 6. February 2, 2006 

 r=revised Source: Bureau of Labor Statistics
17 

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 third 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 1978-2004 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. 
18 

 Appendix table 1. 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 

 2000 I r133.1 r138.6 104.1 133.2 112.1 r100.1 

 II r134.3 r139.9 104.1 132.5 110.7 r98.7 

 III r134.1 r139.2 103.8 135.9 112.4 r101.3 

 IV r135.4 r138.1 102.0 136.7 112.3 r101.0 

 ANNUAL r134.4 r138.9 103.4 134.7 112.0 r100.3 

 2001 I r135.2 r135.5 100.2 138.1 112.4 r102.1 

 II r136.3 r133.6 98.0 137.3 110.9 r100.8 

 III r137.0 r131.3 95.8 137.0 110.4 r100.0 

 IV r140.0 r129.5 92.5 139.0 112.2 r99.3 

 ANNUAL r137.1 r132.5 96.6 137.8 111.5 r100.6 

 2002 I r143.4 r130.1 90.8 144.7 116.3 r100.9 

 II r145.5 r131.6 90.4 147.6 117.7 r101.4 

 III r147.4 r132.0 89.6 149.0 118.3 r101.1 

 IV r148.5 r131.2 88.4 150.2 118.6 r101.2 

 ANNUAL r146.2 r131.2 89.8 147.9 117.7 r101.1 

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

 Percent change from previous quarter at annual rate(5) 

 2000 I r6.5 r4.5 -1.9 21.8 17.3 14.3 

 II r3.8 3.8 0.0 -2.1 -5.1 -5.6 

 III r-0.6 r-2.0 -1.4 10.6 6.6 r11.3 

 IV r4.0 r-3.0 -6.7 2.4 -0.4 r-1.5 

 ANNUAL r4.8 r3.1 -1.6 9.2 5.6 4.2 

 2001 I r-0.5 r-7.2 -6.7 4.3 0.4 r4.8 

 II r3.1 r-5.7 -8.5 -2.4 -5.4 r-5.3 

 III r2.0 r-6.8 -8.6 -0.9 -1.7 r-2.9 

 IV r9.2 r-5.3 -13.3 5.9 6.5 r-3.0 

 ANNUAL r2.0 r-4.7 -6.5 2.3 -0.5 r0.3 

 2002 I r10.0 r2.1 -7.2 17.4 15.7 r6.7 

 II r6.2 r4.6 -1.5 8.4 5.0 r2.1 

 III r5.2 r1.3 -3.8 4.0 1.8 r-1.2 

 IV r3.0 r-2.4 -5.3 3.2 1.1 r0.2 

 ANNUAL r6.6 r-0.9 -7.1 7.3 5.6 r0.6 

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

 Percent change from corresponding quarter of previous year 

 2000 I 4.8 4.0 -0.8 9.8 6.4 4.8 

 II 5.3 4.3 -0.9 8.5 5.1 3.1 

 III 5.1 3.3 -1.7 10.0 6.4 4.7 

 IV r3.4 r0.8 -2.5 7.8 4.2 r4.3 

 ANNUAL r4.8 r3.1 -1.6 9.2 5.6 4.2 

 2001 I r1.6 r-2.2 -3.7 3.7 0.3 r2.0 

 II r1.5 r-4.5 -5.9 3.6 0.2 r2.1 

 III r2.1 r-5.7 -7.6 0.8 -1.8 r-1.3 

 IV r3.4 r-6.3 -9.3 1.7 -0.1 r-1.7 

 ANNUAL r2.0 r-4.7 -6.5 2.3 -0.5 r0.3 

 2002 I r6.0 r-4.0 -9.4 4.7 3.5 r-1.2 

 II r6.8 r-1.5 -7.8 7.5 6.2 r0.7 

 III r7.6 r0.6 -6.6 8.8 7.1 r1.1 

 IV r6.1 r1.3 -4.5 8.1 5.7 r1.9 

 ANNUAL r6.6 r-0.9 -7.1 7.3 5.6 r0.6 

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

 See footnotes following Table 6. February 2, 2006 

 r=revised Source: Bureau of Labor Statistics 
19 

Appendix table 2. 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 

 2000 I r150.0 r165.3 110.2 133.4 112.3 r88.9 

 II r151.3 r167.5 110.7 131.9 110.1 r87.1 

 III r151.3 r166.8 110.2 135.7 112.3 r89.7 

 IV r151.9 r165.0 108.6 135.4 111.3 r89.2 

 ANNUAL r151.3 r166.2 109.8 134.2 111.6 r88.7 

 2001 I r151.3 r161.2 106.5 136.4 111.0 r90.1 

 II r152.4 r158.3 103.9 135.8 109.7 r89.1 

 III r153.5 r154.5 100.7 135.6 109.3 r88.3 

 IV r156.4 r151.1 96.6 137.9 111.3 r88.2 

 ANNUAL r153.4 r156.3 101.9 136.4 110.3 r88.9 

 2002 I r161.2 r152.5 94.6 142.0 114.2 r88.1 

 II r164.4 r155.2 94.3 145.0 115.7 r88.2 

 III r167.6 r156.5 93.4 146.0 115.9 r87.1 

 IV r170.6 r156.3 91.7 147.4 116.4 r86.4 

 ANNUAL r165.9 r155.1 93.5 145.1 115.5 r87.4 

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

 Percent change from previous quarter at annual rate(5) 

 2000 I r10.9 r9.0 -1.7 25.0 20.3 r12.7 

 II r3.5 r5.2 1.6 -4.5 -7.5 r-7.8 

 III r0.0 r-1.6 -1.6 12.1 8.1 r12.1 

 IV r1.5 r-4.2 -5.6 -0.7 -3.5 r-2.2 

 ANNUAL r5.4 r4.7 -0.7 9.7 6.1 r4.1 

 2001 I r-1.5 r-9.0 -7.6 2.7 -1.1 r4.2 

 II 2.9 r-6.9 -9.4 -1.7 -4.7 -4.5 

 III r2.9 r-9.3 -11.8 -0.6 -1.4 r-3.4 

 IV r7.8 r-8.5 -15.2 7.1 7.7 r-0.7 

 ANNUAL r1.3 -5.9 -7.2 1.6 -1.2 0.2 

 2002 I r12.8 r3.6 -8.1 12.4 10.7 r-0.4 

 II r8.3 r7.2 -1.0 8.9 5.4 r0.5 

 III r7.9 r3.5 -4.0 2.8 0.7 r-4.8 

 IV r7.3 r-0.5 -7.2 3.7 1.6 r-3.3 

 ANNUAL r8.2 r-0.8 -8.3 6.4 4.7 r-1.7 

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

 Percent change from corresponding quarter of previous year 

 2000 I r6.0 r6.2 0.2 11.2 7.7 r4.9 

 II 5.6 r6.2 0.6 8.9 5.5 r3.1 

 III r5.7 r4.4 -1.2 10.9 7.2 r4.9 

 IV r3.9 r2.0 -1.8 7.4 3.8 r3.3 

 ANNUAL r5.4 r4.7 -0.7 9.7 6.1 r4.1 

 2001 I r0.9 r-2.5 -3.4 2.2 -1.1 r1.3 

 II r0.7 r-5.4 -6.1 3.0 -0.4 r2.2 

 III r1.4 -7.3 -8.7 -0.1 -2.7 -1.5 

 IV r3.0 r-8.4 -11.1 1.8 0.0 r-1.1 

 ANNUAL r1.3 -5.9 -7.2 1.6 -1.2 0.2 

 2002 I r6.5 r-5.4 -11.2 4.1 2.9 r-2.2 

 II r7.9 r-2.0 -9.2 6.8 5.5 r-1.0 

 III r9.2 r1.3 -7.2 7.7 6.1 r-1.4 

 IV r9.0 r3.4 -5.1 6.9 4.5 r-2.0 

 ANNUAL r8.2 r-0.8 -8.3 6.4 4.7 r-1.7 

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

 See footnotes following Table 6. February 2, 2006 

 r=revised Source: Bureau of Labor Statistics 
20 

 Appendix table 3. 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 

 2000 I r116.9 r111.1 95.0 130.5 109.8 r111.6 

 II r118.2 r111.5 94.4 131.4 109.7 r111.2 

 III r117.6 r110.6 94.1 133.7 110.7 r113.8 

 IV r119.7 r110.2 92.0 136.6 112.2 r114.1 

 ANNUAL r118.3 r110.9 93.7 133.2 110.8 r112.7 

 2001 I r119.7 r108.7 90.8 139.2 113.3 r116.3 

 II r120.5 r107.5 89.2 138.0 111.5 r114.5 

 III r120.4 r106.7 88.6 137.8 111.1 r114.5 

 IV r123.4 r106.5 86.3 139.3 112.4 r112.8 

 ANNUAL r121.0 r107.3 88.7 138.6 112.1 r114.6 

 2002 I r125.6 r106.8 85.0 148.1 119.1 r117.9 

 II r127.0 r107.4 84.5 150.8 120.3 r118.7 

 III r127.8 r107.1 83.8 153.1 121.5 r119.8 

 IV r126.9 r105.9 83.4 154.2 121.7 r121.5 

 ANNUAL r126.8 r106.8 84.2 151.5 120.6 r119.5 

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

 Percent change from previous quarter at annual rate(5) 

 2000 I r0.5 r-1.7 -2.2 15.4 11.1 r14.8 

 II r4.3 r1.4 -2.8 2.7 -0.4 r-1.5 

 III r-2.0 -3.0 -1.0 7.4 3.5 9.6 

 IV r7.4 r-1.7 -8.5 8.9 5.9 r1.4 

 ANNUAL r3.9 r0.6 -3.2 7.8 4.3 r3.8 

 2001 I r-0.1 r-5.2 -5.1 7.8 3.8 r7.9 

 II r2.9 r-4.1 -6.8 -3.4 -6.3 r-6.1 

 III r-0.4 r-3.3 -2.9 -0.6 -1.4 r-0.2 

 IV r10.6 r-0.6 -10.1 4.3 4.9 r-5.7 

 ANNUAL r2.3 r-3.2 -5.3 4.0 1.2 r1.7 

 2002 I r7.2 r1.3 -5.5 28.0 26.2 r19.4 

 II r4.7 r2.1 -2.4 7.4 4.0 r2.6 

 III r2.3 r-1.0 -3.2 6.3 4.1 r3.9 

 IV r-2.7 r-4.6 -2.0 2.8 0.7 r5.6 

 ANNUAL r4.8 r-0.5 -5.1 9.4 7.6 r4.3 

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

 Percent change from corresponding quarter of previous year 

 2000 I r3.4 r0.8 -2.5 6.7 3.4 r3.2 

 II r5.0 r1.3 -3.5 7.3 3.9 r2.2 

 III r4.1 r1.4 -2.6 8.2 4.6 r3.9 

 IV r2.5 r-1.3 -3.7 8.5 4.9 r5.9 

 ANNUAL r3.9 r0.6 -3.2 7.8 4.3 r3.8 

 2001 I r2.3 r-2.2 -4.4 6.7 3.2 r4.2 

 II r2.0 r-3.5 -5.4 5.1 1.6 r3.0 

 III r2.4 r-3.6 -5.9 3.1 0.4 r0.6 

 IV r3.1 r-3.3 -6.3 1.9 0.1 r-1.2 

 ANNUAL r2.3 r-3.2 -5.3 4.0 1.2 r1.7 

 2002 I r5.0 r-1.7 -6.4 6.4 5.1 r1.4 

 II r5.4 r-0.1 -5.3 9.3 7.9 r3.6 

 III r6.1 r0.4 -5.4 11.1 9.4 r4.7 

 IV r2.8 r-0.6 -3.3 10.7 8.3 r7.7 

 ANNUAL r4.8 r-0.5 -5.1 9.4 7.6 r4.3 

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

 See footnotes following Table 6. February 2, 2006 

 r=revised Source: Bureau of Labor Statistics 
21 

 

 Appendix table 4. Manufacturing sector: Productivity, hourly compensation, and unit labor costs, 

 Indexes 1992=100 

 Real 

 Output per Hours Compensa- compensa- Unit 

 hour of of all tion per tion per labor 

 Year all persons Output persons hour (1) hour (2) costs 

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

 1987 r88.3 r91.6 103.8 81.3 98.0 r92.1 

 1988 r90.0 r96.2 107.0 84.1 97.8 r93.5 

 1989 r90.3 r97.2 107.6 86.6 96.6 r95.9 

 1990 r92.9 r97.6 105.0 90.5 96.1 r97.4 

 1991 r95.4 r96.0 100.5 95.6 98.0 r100.1 

 1992 100.0 100.0 100.0 100.0 100.0 100.0 

 1993 r102.7 r104.1 101.4 102.0 99.5 r99.4 

 1994 r106.1 r110.1 103.8 105.3 100.6 r99.2 

 1995 r110.0 r115.0 104.6 107.3 100.1 r97.6 

 1996 r113.9 r118.7 104.2 109.3 99.3 r96.0 

 1997 r118.0 r125.2 106.0 112.2 99.8 r95.1 

 1998 r123.8 r130.9 105.7 118.8 104.2 r95.9 

 1999 r128.3 r134.8 105.1 123.4 106.0 r96.2 

 2000 r134.4 r138.9 103.4 134.7 112.0 r100.3 

 2001 r137.1 r132.5 96.6 137.8 111.5 r100.6 

 2002 r146.2 r131.2 89.8 147.9 117.7 r101.1 

 2003 r154.4 r131.8 85.4 160.1 124.6 r103.7 

 2004 r162.8 r138.4 85.0 163.6 124.0 r100.5 

 2005 r170.6 r143.8 r84.3 r174.4 r127.9 r102.3 

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

 See footnotes following Table 6. February 2, 2006 

 r=revised Source: Bureau of Labor Statistics 
22 

 Appendix table 5. Durable manufacturing sector: Productivity, hourly compensation, 

 and unit labor costs, 

 Indexes 1992=100 

 Real 

 Output per Hours Compensa- compensa- Unit 

 hour of of all tion per tion per labor 

 Year all persons Output persons hour (1) hour (2) costs 

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

 1987 r89.3 r95.1 106.5 81.3 97.9 r91.0 

 1988 r91.3 r101.0 110.6 83.6 97.2 r91.6 

 1989 r91.2 r101.2 111.0 85.9 95.8 r94.2 

 1990 r93.2 r100.1 107.4 89.5 95.0 r96.0 

 1991 r94.6 r95.9 101.4 94.9 97.3 r100.3 

 1992 100.0 100.0 100.0 100.0 100.0 100.0 

 1993 r104.5 r106.0 101.4 101.9 99.4 r97.5 

 1994 r109.6 r114.8 104.7 105.4 100.7 r96.2 

 1995 r115.2 r122.8 106.6 106.7 99.5 r92.7 

 1996 r120.7 r129.5 107.3 108.1 98.2 r89.5 

 1997 r126.2 r139.5 110.5 110.6 98.4 r87.6 

 1998 r135.6 r150.4 111.0 117.1 102.7 r86.4 

 1999 r143.6 r158.7 110.6 122.4 105.2 r85.3 

 2000 r151.3 r166.2 109.8 134.2 111.6 r88.7 

 2001 r153.4 r156.3 101.9 136.4 110.3 r88.9 

 2002 r165.9 r155.1 93.5 145.1 115.5 r87.4 

 2003 r179.0 r158.5 88.5 158.6 123.5 r88.6 

 2004 r190.9 r170.1 89.1 160.4 121.6 r84.1 

 2005 r203.4 r180.8 r88.9 r170.6 r125.1 r83.9 

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

 See footnotes following Table 6. February 2, 2006 

 r=revised Source: Bureau of Labor Statistics 
23 

 Appendix table 6. Nondurable manufacturing sector: Productivity, hourly compensation, 

 and unit labor costs, 

 Indexes 1992=100 

 Real 

 Output per Hours Compensa- compensa- Unit 

 hour of of all tion per tion per labor 

 Year all persons Output persons hour (1) hour (2) costs 

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

 1987 r90.2 r89.9 99.7 80.8 97.4 r89.5 

 1988 r91.8 r93.1 101.5 84.2 98.0 r91.8 

 1989 r92.1 r94.6 102.7 87.1 97.2 r94.6 

 1990 r94.7 r96.0 101.4 91.7 97.4 r96.9 

 1991 r97.4 r96.6 99.2 96.5 98.9 r99.1 

 1992 100.0 100.0 100.0 100.0 100.0 100.0 

 1993 r100.4 r101.8 101.4 102.3 99.8 r101.8 

 1994 r102.2 r104.5 102.3 104.7 100.1 r102.5 

 1995 r104.6 r106.2 101.6 107.8 100.6 r103.0 

 1996 r107.1 r106.5 99.5 110.8 100.7 r103.5 

 1997 r110.6 r110.0 99.4 114.1 101.5 r103.1 

 1998 r112.9 r110.5 97.9 120.3 105.5 r106.6 

 1999 r113.8 r110.2 96.9 123.6 106.2 r108.6 

 2000 r118.3 r110.9 93.7 133.2 110.8 r112.7 

 2001 r121.0 r107.3 88.7 138.6 112.1 r114.6 

 2002 r126.8 r106.8 84.2 151.5 120.6 r119.5 

 2003 r130.5 r105.2 80.6 161.2 125.5 r123.6 

 2004 r136.1 r107.5 79.0 167.6 127.0 r123.1 

 2005 r140.0 r108.3 r77.3 r179.3 r131.5 r128.0 

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

 See footnotes following Table 6. February 2, 2006 

 r=revised Source: Bureau of Labor Statistics 
24 

Appendix table 7. 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 

 2002 I r126.0 r149.3 118.5 140.1 112.7 r111.2 r113.0 r111.7 r85.8 r109.4 

 II r127.8 r151.3 118.4 141.8 113.1 r111.0 r110.7 r110.9 r94.5 r109.4 

 III r129.1 r152.2 117.9 142.7 113.3 r110.6 r110.0 r110.5 r100.3 r109.5 

 IV r130.1 r153.0 117.6 143.2 113.1 r110.1 r109.6 r110.0 r111.2 r110.1 

 ANNUAL r128.2 r151.5 118.1 142.0 113.0 r110.7 r110.8 r110.7 r98.0 r109.6 

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

 Percent change from previous quarter at annual rate(5) 

 2002 I r5.0 2.9 -2.0 2.3 0.8 -2.6 -9.0 -4.4 r66.8 -0.8 

 II 6.1 5.6 -0.5 5.1 1.7 r-0.9 -7.9 -2.9 46.9 0.1 

 III 3.9 2.3 -1.5 2.6 0.5 -1.2 -2.4 r-1.6 27.0 0.5 

 IV 3.2 2.0 -1.2 1.3 -0.7 r-1.9 r-1.6 r-1.8 r50.9 r1.9 

 ANNUAL 3.8 0.9 -2.8 3.4 1.8 -0.4 -1.6 -0.7 19.2 0.6 

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

 Percent change from corresponding quarter of previous year 

 2002 I 2.8 -1.7 -4.4 3.4 2.2 0.6 3.5 1.4 -1.9 r1.2 

 II 3.5 0.2 -3.2 3.7 2.4 r0.2 r-0.8 -0.1 8.7 0.5 

 III 4.4 1.9 -2.4 3.5 1.9 -0.8 -3.5 r-1.5 27.0 0.3 

 IV 4.5 3.2 -1.3 2.8 0.6 -1.7 r-5.3 r-2.7 47.2 0.4 

 ANNUAL 3.8 0.9 -2.8 3.4 1.8 -0.4 -1.6 -0.7 19.2 0.6 

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

 See footnotes following Table 6. February 2, 2006 

 r=revised Source: Bureau of Labor Statistics