Internet address:    http://www.bls.gov/lpc              USDL 07-0338
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                            TUESDAY, MARCH 6, 2007



                           PRODUCTIVITY AND COSTS
               Fourth Quarter and Annual Averages, 2006 Revised
     
   The Bureau of Labor Statistics of the U.S. Department of Labor today 
reported revised fourth-quarter seasonally-adjusted annual rates of 
productivity change--as measured by output per hour of all persons--and 
revised changes for calendar year 2006.  Percent changes in business and 
nonfarm business productivity were:

                                           Fourth     Annual averages 
                                           quarter       2005-2006
                                           
      Business sector                        1.0            1.7 
      Nonfarm business sector                1.6            1.6 

   In both the business and nonfarm business sectors, productivity growth 
for the fourth quarter of 2006 was revised down by 1.4 percentage points from 
the estimates published February 7, due solely to downward revisions to 
output.  Productivity growth during calendar year 2006 also was less than 
previously reported in both sectors, but the revisions to annual data were 
almost entirely explained by upward revisions to hours worked. 

   In the manufacturing sector, increases in productivity were:

                                           Fourth     Annual averages 
                                           quarter       2005-2006
                                           
      Manufacturing                          2.2            4.0 
         Durable goods manufacturing         3.4            6.2 
         Nondurable goods manufacturing      0.8            1.7
         

==============================================================================
Data in this release reflect the annual benchmark revision of BLS Current 
Employment Statistics program data on nonfarm employee hours, and revised 
seasonal adjustment of those data.  Also, hours of other nonfarm and farm 
workers based on the BLS Current Population Survey and contributing to 
measures for the business and nonfarm business sectors incorporate new 
seasonal adjustment factors.  Due to these hours revisions, measures for all
major sectors were subject to revision beginning with data for the first 
quarter of 2002.  Revised seasonally-adjusted values of the BLS Consumer 
Price Index for all urban consumers are reflected in measures of real hourly
compensation beginning with data for the first quarter of 2006.  See Revised
Measures.
==============================================================================


   Productivity in total manufacturing grew at a 2.2 percent annual rate in 
the fourth quarter of 2006, the same as the preliminary estimate.  In total 
manufacturing and in both subsectors, the reported increases in productivity 
resulted when hours fell faster than output.  When revised annual averages 
for 2005 and 2006 were compared, productivity increased slightly more in 
total manufacturing and in nondurable manufacturing than reported Feb. 7 and 
the increase in durable manufacturing was not revised. Output and hours in 
manufacturing, which includes about 12 percent of U.S. business-sector 
employment, tend to vary more from quarter to quarter than data for the 
aggregate business and nonfarm business sectors. Fourth-quarter productivity 
and related measures are summarized in table A and appear in detail in tables 
1 through 5.  Preliminary and revised fourth-quarter and annual data appear 
in table C. 

-----------------------------------------------------------------------------
Table A. Productivity and costs: Revised fourth-quarter 2006 measures
(Seasonally adjusted annual rates)
------------------------------------------------------------------------------
                                                            Real
                                                   Hourly   hourly      Unit
                      Produc-                      compen-  compen-     labor
Sector                tivity   Output    Hours     sation   sation      costs
------------------------------------------------------------------------------
                        Percent change from preceding quarter
                        
 Business               1.0       2.5      1.5       7.5      9.8        6.5
 Nonfarm business       1.6       2.5      0.9       8.2     10.5        6.6
 Manufacturing          2.2      -2.1     -4.2       7.1      9.3        4.7
   Durable              3.4      -0.9     -4.2       7.4      9.7        3.9
   Nondurable           0.8      -3.5     -4.2       6.4      8.7        5.6
------------------------------------------------------------------------------
                        Percent change from same quarter a year ago
                        
 Business               1.4       3.4      2.1       4.8      2.8        3.4
 Nonfarm business       1.4       3.4      2.0       4.9      3.0        3.4
 Manufacturing          4.0       3.6     -0.4       3.5      1.5       -0.5
   Durable              5.4       4.8     -0.5       4.3      2.3       -1.0
   Nondurable           2.4       2.2     -0.2       2.0      0.1       -0.4
------------------------------------------------------------------------------
   
   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 prepared by the Board of Governors 
of the Federal Reserve System.  See Technical Notes for further information 
on data sources.


                  THIRD-TO-FOURTH QUARTER CHANGES, 2006

Business

   Labor productivity in the business sector increased 1.0 percent in the 
fourth quarter of 2006, as output increased 2.5 percent and hours of all 
persons engaged in the sector increased 1.5 percent (seasonally adjusted 
annual rates).  Revised estimates show that output per hour declined 0.3 
percent in the third quarter when output increased 1.9 percent but hours 
increased more, 2.2 percent (table 1).

   Hourly compensation grew at a 7.5-percent annual rate in the fourth 
quarter after rising 0.9 percent in the third quarter of 2006, as revised.  
This measure includes wages and salaries, supplements, employer contributions 
to employee-benefit plans, and taxes.  Real hourly compensation, which takes 
into account changes in consumer prices, increased more than hourly 
compensation in the fourth quarter, 9.8 percent, because consumer prices fell 
2.1 percent.

   Unit labor costs, which reflect changes in hourly compensation and 
productivity, increased 6.5 percent during the fourth quarter of 2006, after 
rising 1.2 percent in the third quarter.  The implicit price deflator for 
business output, which reflects changes in unit labor costs and unit nonlabor 
payments, increased 1.0 percent in the fourth quarter and 1.2 percent in the 
third quarter.

Nonfarm business

   In the nonfarm business sector, productivity increased at an annual rate 
of 1.6 percent in the fourth quarter of 2006, as output increased 2.5 percent 
and hours of all persons--employees, proprietors, and unpaid family workers--
rose 0.9 percent.  Nonfarm business productivity declined 0.5 percent in the 
third quarter of 2006, as output and hours grew 1.9 percent and 2.4 percent, 
respectively (table 2).

   Hourly compensation grew 8.2 percent in the fourth quarter, and when the 
decrease in consumer prices was taken into account, real hourly compensation 
grew even faster, 10.5 percent.  Real hourly compensation had fallen in the 
second and third quarters of 2006, following an 11.0-percent gain in the 
first quarter.

   Unit labor costs increased at a 6.6-percent annual rate in the fourth 
quarter after rising 1.1 percent in the third quarter, as revised.  The 
implicit price deflator for nonfarm business increased 0.5 percent in the 
fourth quarter, and 0.8 percent in the third quarter, of 2006.

Manufacturing

   Manufacturing productivity increased 2.2 percent in the fourth quarter 
of 2006, as output decreased 2.1 percent and hours fell 4.2 percent 
(seasonally adjusted annual rates). The productivity increase was the 
smallest since the first quarter of 2004, when output per hour declined 1.7 
percent.  In durable goods industries, productivity increased 3.4 percent as 
both output and hours decreased, 0.9 percent and 4.2 percent, respectively.  
In nondurable goods industries, output per hour rose 0.8 percent, reflecting 
decreases of 3.5 percent in output and 4.2 percent in hours.  In the third 
quarter of 2006, productivity increased 5.9 percent in total manufacturing, 
8.1 percent in durable goods industries, and 2.7 percent in nondurable goods 
industries (tables 3, 4, and 5).

   Manufacturing hourly compensation grew at a 7.1 percent annual rate 
during the fourth quarter of 2006.  Durable and nondurable goods 
manufacturing posted increases in hourly compensation of 7.4 percent and 6.4 
percent, respectively.  Consumer prices decreased slightly in the fourth 
quarter of 2006, contributing to real hourly compensation gains of 9.3 
percent in total manufacturing, 9.7 percent in durable manufacturing, and 8.7 
percent in nondurables. 

   Unit labor costs in manufacturing increased 4.7 percent in the fourth 
quarter of 2006 after falling 5.8 percent in the third quarter.  These costs 
increased 3.9 percent in durable goods industries and 5.6 percent in 
nondurable goods industries during the fourth quarter of 2006. 


                     ANNUAL AVERAGE CHANGES, 2005-2006

Business and Nonfarm business

   Business sector productivity increased 1.7 percent when the revised 
annual average for 2006 was compared with the revised annual average for 2005 
(table B).  This was the smallest annual productivity gain since 1995, when 
business sector output per hour edged up 0.1 percent.  Productivity increased 
2.1 percent from 2004 to 2005 (as revised), and at an average annual rate of 
3.4 percent per year from 2000 to 2004.  Nonfarm business productivity 
increased less during 2006 than in any year since 1997, when it grew at the 
same 1.6-percent rate.  In both sectors, the modest productivity improvement 
reflected output growth of 3.8 percent combined with significant increases in 
hours worked: business sector hours increased 2.1 percent, the most since 
1997 (3.4 percent), and the 2.2-percent increase in nonfarm business hours 
was the largest since a similar increase in 1999.

------------------------------------------------------------------------------
Table B. Productivity and costs: Revised 2006 annual averages
(Seasonally adjusted annual rates)
------------------------------------------------------------------------------
                                                            Real
                                                   Hourly   hourly      Unit
                      Produc-                      compen-  compen-     labor
Sector                tivity   Output    Hours     sation   sation      costs
------------------------------------------------------------------------------
                        Percent change from previous year
                        
Business                1.7      3.8      2.1       4.8       1.5        3.1
Nonfarm business        1.6      3.8      2.2       4.8       1.5        3.2
Manufacturing           4.0      5.0      1.0       3.8       0.5       -0.2
  Durable               6.2      7.6      1.3       4.3       1.0       -1.8
  Nondurable            1.7      2.1      0.4       2.8      -0.4        1.0
------------------------------------------------------------------------------

   Hourly compensation increased 4.8 percent and real hourly compensation 
increased 1.5 percent during 2006 in both the business and nonfarm business 
sectors.  Unit labor costs increased 3.1 percent in the business sector and 
3.2 percent in the nonfarm business sector in 2006, faster than in any year 
since 2000, when unit labor costs grew 4.1 percent and 4.2 percent in the 
business and nonfarm business sectors, respectively.  

Manufacturing

   Manufacturing productivity grew 4.0 percent in 2006, reflecting 
increases in output and hours of 5.0 percent and 1.0 percent, respectively.  
In 2005, output per hour had increased 4.8 percent, as output grew 3.6 
percent and hours declined 1.1 percent.  Labor productivity increased 6.2 
percent in durable goods manufacturing during 2006, as output jumped 7.6 
percent and hours rose 1.3 percent.  Productivity in nondurable goods 
manufacturing rose 1.7 percent in 2006--the smallest annual increase in this 
sector since 1999 (1.0 percent)--as output increased 2.1 percent and hours 
edged up 0.4 percent (tables B, 3, 4, and 5).

   Hourly compensation of manufacturing workers increased 3.8 percent in 
2006, compared to a 4.7-percent increase one year earlier.  Hourly 
compensation increased 4.3 percent in durable manufacturing and 2.8 percent 
in nondurable goods industries.  Real hourly compensation in the 
manufacturing sector edged up 0.5 percent in 2006 and increased 1.3 percent 
in 2005.

   From 2005 to 2006 unit labor costs fell 0.2 percent in manufacturing.  
During the same time period, unit labor costs fell 1.8 percent in durable 
manufacturing and increased 1.0 percent in nondurable manufacturing.

------------------------------------------------------------------------------
Table C. Previous and revised productivity and related measures:
Fourth-quarter 2006, third-quarter 2006, and annual averages 2005 and 2006
(Seasonally adjusted annual rates)
------------------------------------------------------------------------------
                                                            Real
                                                   Hourly   hourly      Unit
                      Produc-                      compen-  compen-     labor
Sector                tivity   Output    Hours     sation   sation      costs
------------------------------------------------------------------------------
                           Percent change, fourth quarter 2006
Business:                  
  Previous              2.4      4.1      1.7        4.2      6.6        1.7
  Revised               1.0      2.5      1.5        7.5      9.8        6.5
Nonfarm business:                      
  Previous              3.0      4.2      1.2        4.8      7.1        1.7
  Revised               1.6      2.5      0.9        8.2     10.5        6.6
Manufacturing:                      
  Previous              2.2     -1.6     -3.7        7.3      9.8        5.0
  Revised               2.2     -2.1     -4.2        7.1      9.3        4.7
------------------------------------------------------------------------------
                           Percent change, third quarter 2006
Business:                  
  Previous              0.1      1.9      1.8        3.4      0.4        3.3
  Revised              -0.3      1.9      2.2        0.9     -2.1        1.2
Nonfarm business:                      
  Previous             -0.1      1.9      2.0        3.1      0.1        3.2
  Revised              -0.5      1.9      2.4        0.6     -2.4        1.1
Manufacturing:                      
  Previous              6.3      4.8     -1.5        3.3      0.3       -2.9
  Revised               5.9      4.8     -1.1       -0.2     -3.2       -5.8
------------------------------------------------------------------------------
                              Percent change, 2005 - 2006
Business:                  
  Previous              2.2      3.9      1.6        5.4      2.1        3.1
  Revised               1.7      3.8      2.1        4.8      1.5        3.1
Nonfarm business:                      
  Previous              2.1      3.9      1.7        5.3      2.1        3.2
  Revised               1.6      3.8      2.2        4.8      1.5        3.2
Manufacturing:                      
  Previous              3.9      5.0      1.1        4.1      0.9        0.2
  Revised               4.0      5.0      1.0        3.8      0.5       -0.2
------------------------------------------------------------------------------
                              Percent change, 2004 - 2005
Business:                  
  Previous              2.3      3.7      1.4        4.4      1.0        2.1
  Revised               2.1      3.7      1.6        4.2      0.8        2.0
Nonfarm business:                      
  Previous              2.3      3.8      1.5        4.4      1.0        2.0
  Revised               2.1      3.8      1.6        4.1      0.8        2.0
Manufacturing:                      
  Previous              4.7      3.6     -1.1        4.6      1.2       -0.1
  Revised               4.8      3.6     -1.1        4.7      1.3       -0.1
------------------------------------------------------------------------------
  
  
                                 REVISED MEASURES

   Productivity and cost data for the third quarter, fourth quarter, and 
full year 2006 for business, nonfarm business, and manufacturing were revised 
to incorporate the most recent information. Quarterly measures of real hourly 
compensation during 2006 also reflect the recalculation of seasonal factors 
for the Consumer Price Index for All Urban Consumers.

   Quarterly and annual measures for all sectors were revised back to 2002 
to incorporate the annual benchmark adjustment and updated information on 
seasonal trends from the BLS nonfarm payroll series (appendix tables 1-5).  
Hours and related measures for the business and nonfarm business sectors were 
revised to incorporate updated information on seasonal trends in Current 
Population Survey data on hours by job.  Full quarterly and annual historical 
series are available on the BLS website, http://www.bls.gov/data/home.htm or 
by contacting the BLS Division of Major Sector Productivity at (202) 691-
5606. 
        
   In fourth-quarter 2006, productivity growth in the business  and 
nonfarm business sectors was revised down to 1.0 percent and 1.6 percent, 
respectively, due to downward revisions to output, as hours increases also 
were revised down.  These downward revisions to productivity combined with 
large upward revisions to hourly compensation to produce rates of growth in 
unit labor costs in excess of six percent in both sectors.  In the 
manufacturing sector, fourth-quarter productivity growth was unchanged from 
the preliminary estimate, as both output and hours were revised down by 0.5 
percentage point.  A small downward revision in hourly compensation led to a 
revision in the change in unit labor costs from 5.0 percent to 4.7 percent.
         
   Productivity growth was revised down in all major sectors for the third 
quarter, due solely to upward revisions to hours changes; output was not 
revised.  Measures of output per hour for the business and nonfarm business 
sectors now show small absolute declines.  Hourly compensation was revised 
down substantially in all sectors, resulting in significant downward 
revisions to changes in unit labor costs.  In manufacturing, unit labor costs 
fell at a 5.8-percent annual rate in the third quarter, as revised. 
        
   After revisions to annual averages, productivity grew less in 2006 in 
the business and nonfarm business sectors than previously reported.  Downward 
revisions to hourly compensation in the business and nonfarm business sectors 
offset those to productivity, and unit labor costs grew at the same rates 
reported Feb. 7.  In manufacturing, the slight upward revision to 
productivity growth during 2006 reflected a corresponding downward revision 
to hours growth.  The small upward revision to output per hour combined with 
a downward revision to hourly compensation to bring about a small decline in 
manufacturing unit labor costs during calendar year 2006, rather than the 
small increase reported previously.    
        
   Productivity growth in both the business and nonfarm business sectors was 
revised down from 2.3 percent to 2.1 percent for the year 2005, reflecting 
small upward revisions to hours.  Downward revisions to hourly compensation 
prevented corresponding upward revisions to unit labor costs.   

       
Revised measures: Nonfinancial corporations
       
   Measures for the nonfinancial corporate sector also were revised due to 
updated information on hours worked by employees (table 6 and appendix table 
6).  New information on output and compensation in the third quarter of 2006 
also impacted measures for this sector.

   Productivity in nonfinancial corporations in third-quarter 2006 
increased less than in the preliminary estimates, reflecting both a downward 
revision to output and an upward revision to hours worked. Hourly 
compensation was revised down by more than productivity, and unit labor costs 
decreased more than published Feb. 7.  Unit profits posted a slightly larger 
increase than originally reported.  For calendar year 2005, productivity was 
revised down as hours worked by employees were revised up.  A downward 
revision to hourly compensation offset the productivity revision and unit 
labor costs increased at the same rate reported previously. 


------------------------------------------------------------------------------
Table D.  Nonfinancial corporations: Previous and revised productivity and 
cost measures
Quarterly percent changes at seasonally adjusted annual rates
------------------------------------------------------------------------------
                                           Real
                                  Hourly   hourly   Unit             Implicit
          Produc-                 compen-  compen-  labor   Unit     price 
          tivity  Output   Hours  sation   sation   costs   profits  deflator 
------------------------------------------------------------------------------

                              Third quarter 2006
                              
Previous    5.7    7.3      1.5     3.3      0.4    -2.3     30.2       0.5
Revised     4.1    6.1      1.9     1.1     -2.0    -2.9     31.8       0.5
------------------------------------------------------------------------------

                                Annual 2005

Previous    2.5    4.0      1.4     4.4      1.0     1.8     12.6       3.3
Revised     2.3    4.0      1.6     4.1      0.8     1.8     12.6       3.3
------------------------------------------------------------------------------
       
                           Next release date

   The next release of Productivity and Costs is scheduled for 8:30 A.M. 
EDT, Thursday, May 3, 2007, and will present preliminary first-quarter 2007 
measures for business, nonfarm business, and manufacturing.  Fourth-quarter 
2006 and annual average data for 2006 for nonfinancial corporations will be 
released at that time.


       				

				TECHNICAL NOTES

Labor Hours: Hours data for the labor productivity and cost measures include 
hours for all persons working in the sector-wage and salary workers, the 
self-employed and unpaid family workers.  The primary source of hours and em-
ployment data is the BLS Current Employment Statistics (CES) program, which 
provides monthly survey data on the number of jobs held by wage and salary 
workers in nonfarm establishments.  The CES also provides average weekly paid 
hours of production and nonsupervisory workers in these establishments.  
Weekly paid hours are adjusted to hours at work using data from the National 
Compensation Survey (NCS).  The BLS Hours at Work survey, conducted for this 
purpose, was used for earlier years.  The Office of Productivity and 
Technology estimates average weekly hours at work for nonproduction and 
supervisory workers using information from the Current Population Survey 
(CPS), the CES, and the NCS.
      Data from the CPS are used for farm labor, nonfarm proprietors, and 
nonfarm unpaid family workers.  Estimates of labor input for government 
enterprises are derived from the CPS, the CES, and the National Income and 
Product Accounts (NIPA) prepared by the Bureau of Economic Analysis (BEA) of 
the Department of Commerce.
      The CES measures jobs, counting a person who is employed by two or more 
establishments at each place of employment. In contrast, the CPS features 
measures of employment that count each person only once and classify each 
person according to his or her primary job; hours worked at all jobs by that 
person accrue to his or her primary job.  However, the CPS also collects more 
detailed information on employment and hours worked at primary jobs and all 
other jobs, separately.  The BLS productivity measures use the more detailed 
information on employment and hours to assign all hours worked to the correct 
industrial sector and avoid duplicating hours data from the CES.

Output: Business sector output is an annual-weighted index constructed after 
excluding from gross domestic product (GDP) the following outputs: general 
government, nonprofit institutions, and private households (including owner-
occupied housing). Corresponding exclusions also are made in labor inputs. 
Business output accounted for about 78 percent of the value of GDP in 2000. 
Nonfarm business, which also excludes farming, accounted for about 77 percent 
of GDP in 2000.
      Annual indexes for manufacturing and its durable and nondurable goods 
components are constructed by deflating current-dollar industry value of 
production data from the U.S. Bureau of the Census with deflators from the 
BLS.  These deflators are based on data from the BLS producer price program 
and other sources.  The industry shipments are aggregated using annual 
weights, and intrasector transactions are removed.  Quarterly manufacturing 
output measures are based on the index of industrial production prepared 
monthly by the Board of Governors of the Federal Reserve System, adjusted to 
be consistent with annual indexes of manufacturing sector output prepared by 
BLS.  Durables include the following 3-digit NAICS industries: wood product 
manufacturing; nonmetallic mineral product manufacturing; primary metal 
manufacturing; fabricated metal product manufacturing; machinery manufac-
turing; 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 of production. Rather, they reflect the 
joint effects of many influences, including changes in technology; capital 
investment; level of output; utilization of capacity, energy, and materials; 
the organization of production; managerial skill; and the characteristics and 
effort of the work force.

Labor Compensation: Estimates of labor compensation by major sector, required 
for measures of hourly compensation and unit labor costs, are based primarily 
on employee compensation data from the NIPA, prepared by the BEA.   The 
compensation of employees in general government, nonprofit institutions and 
private households are subtracted from compensation of domestic employees to 
derive employee compensation for the business sector. The labor compensation 
of proprietors cannot be explicitly identified and must be estimated.   This 
is done by assuming that proprietors have the same hourly compensation as 
employees in the same sector.  The quarterly labor productivity and cost 
measures do not contain estimates of compensation for unpaid family workers.  
        
Unit Labor Costs:  The measures of unit labor costs in this release describe 
the relationship between compensation per hour and productivity, or real 
output per hour, and can be used as an indicator of inflationary pressure on 
producers.  Increases in hourly compensation increase unit labor costs; labor 
productivity increases offset compensation increases and lower unit labor 
costs. 

Presentation of the data:  The quarterly data in this release are presented 
in three ways; as index number series where 1992=100, as percent changes from 
the corresponding quarter of the previous year, and as percent changes from 
the previous quarter presented at a compound annual rate.  Annual data are 
presented both as index number series and percent changes from the previous 
year.  
	The index numbers and rates of change reported in the productivity and 
costs news release are rounded to one decimal place.  All percent changes in 
this release and on the BLS web site are calculated using index numbers to 
three decimal places.  These index numbers are available at the BLS web site, 
http://www.bls.gov/data/home.htm, or by contacting the BLS Division of Major 
Sector Productivity.  (Telephone 202-691-5606 or email DPRWEB@BLS.GOV)
        
Information in this release will be made available to sensory-impaired 
individuals upon request. Voice phone: 202-691-5606; Federal Relay Service 
number: 1-800-877-8339.



  
Table 1. Business sector: Productivity, hourly compensation, unit labor costs,
and prices, seasonally adjusted
                                                           Real
   Year       Output per             Hours     Compensa-   compensa-   Unit     Unit non-   Implicit
   and        hour of                of all    tion per    tion per    labor    labor pay-  price
   quarter    all persons  Output    persons   hour (1)    hour (2)    costs    ments (3)   deflator (4)
---------------------------------------------------------------------------------------------------------
                                           Indexes 1992=100

2004       I    r131.4      151.7    r115.5    r154.4      r118.5     r117.5      r122.9      119.5
          II    r132.8      153.5    r115.7    r155.7      r118.3     r117.3      r126.1      120.6
         III    r133.0      154.8    r116.5    r157.5      r119.0     r118.5      r125.6      121.1
          IV    r133.5      155.8    r116.8    r160.0      r119.9     r119.9      r125.9      122.1

      ANNUAL    r132.6      154.0    r116.1    r156.9      r118.9     r118.3      r125.1      120.8

2005       I    r134.6      157.4    r117.0    r161.7      r120.5     r120.1      r127.9      123.0
          II    r134.8      159.0    r118.0    r161.8      r119.4     r120.0      r129.9      123.7
         III    r136.2      160.9    r118.2    r164.7      r119.9     r120.9      r131.2      124.7
          IV    r136.1      161.7    r118.8    r165.7      r119.7     r121.8      r132.4      125.7

      ANNUAL    r135.4      159.8    r118.0    r163.5      r119.9     r120.7      r130.4      124.3

2006       I    r137.4      164.3    r119.6    r170.8      r122.9     r124.4      r130.2      126.6
          II    r137.7      165.4    r120.1    r170.2      r120.9     r123.6      r134.2      127.5
         III    r137.6      166.2    r120.8    r170.5      r120.2     r123.9      r134.6      127.9
          IV    r138.0     r167.2    r121.2    r173.7      r123.1     r125.9      r132.1     r128.2

      ANNUAL    r137.7     r165.8    r120.4    r171.3      r121.7     r124.4      r132.8     r127.5

---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

2004       I       3.2        4.5       1.2       2.1        -1.5       -1.1        11.8        3.6
          II      r4.3        4.8      r0.5       3.5        -0.5      r-0.8       r10.9        3.6
         III      r0.6        3.4      r2.8      r4.6        r2.4       r4.0       r-1.8        1.7
          IV       1.6        2.6       1.0      r6.6         3.0        5.0         0.9        3.4

      ANNUAL       3.1        4.4       1.3       3.8        r1.0        0.7         5.8        2.6

2005       I      r3.4        4.2      r0.8      r4.2        r1.8       r0.8        r6.6        3.0
          II      r0.5        4.1      r3.6      r0.2       r-3.5      r-0.3        r6.5        2.3
         III      r4.3        4.9      r0.6      r7.3        r1.8       r2.9        r4.1        3.3
          IV     r-0.2        1.8      r2.1      r2.7       r-0.6        2.9        r3.5        3.2

      ANNUAL      r2.1        3.7      r1.6      r4.2        r0.8       r2.0         4.2        2.9

2006       I      r3.8        6.7      r2.8     r12.9       r10.9       r8.8       r-6.3        2.7
          II      r1.0        2.7       1.7     r-1.6       r-6.3      r-2.6       r12.6        3.1
         III     r-0.3        1.9      r2.2      r0.9       r-2.1       r1.2        r1.2        1.2
          IV      r1.0       r2.5      r1.5      r7.5        r9.8       r6.5       r-7.2       r1.0

      ANNUAL      r1.7       r3.8      r2.1      r4.8        r1.5        3.1         1.8        2.6

---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

2004       I      r4.4        5.1       0.6       4.3         2.4       -0.1         5.5        1.9
          II       3.8        5.2       1.3       3.3         0.5       -0.5         8.1        2.7
         III       1.7        3.5       1.7       3.3        r0.5        1.6         4.5        2.7
          IV      r2.4        3.8      r1.4       4.2        r0.8        1.7         5.3        3.1

      ANNUAL       3.1        4.4       1.3       3.8        r1.0        0.7         5.8        2.6

2005       I      r2.5        3.8       1.3       4.7        r1.7        2.2        r4.0        2.9
          II      r1.5        3.6      r2.0      r3.9        r0.9        2.3         3.0        2.6
         III      r2.4        3.9      r1.5      r4.5        r0.7        2.1        r4.5        3.0
          IV      r2.0        3.7      r1.7      r3.6       r-0.2        1.6        r5.2        3.0

      ANNUAL      r2.1        3.7      r1.6      r4.2        r0.8       r2.0         4.2        2.9

2006       I      r2.1        4.4      r2.3      r5.7        r2.0       r3.5         1.8        2.9
          II      r2.2        4.0      r1.8      r5.2        r1.2       r2.9        r3.3        3.1
         III      r1.1        3.3      r2.2      r3.6        r0.3       r2.5        r2.5        2.5
          IV      r1.4       r3.4      r2.1       4.8         2.8       r3.4       r-0.2       r2.0

      ANNUAL      r1.7       r3.8      r2.1      r4.8        r1.5        3.1         1.8        2.6

---------------------------------------------------------------------------------------------------------
See footnotes following Table 6.                                       March 6, 2007
r=revised                                                              Source: Bureau of Labor Statistics




Table 2. Nonfarm business sector: Productivity, hourly compensation, unit labor costs,
and prices, seasonally adjusted
                                                           Real
   Year       Output per             Hours     Compensa-   compensa-   Unit     Unit non-   Implicit
   and        hour of                of all    tion per    tion per    labor    labor pay-  price
   quarter    all persons  Output    persons   hour (1)    hour (2)    costs    ments (3)   deflator (4)
---------------------------------------------------------------------------------------------------------
                                           Indexes 1992=100

2004       I    r130.6      151.9    r116.4    r153.5      r117.8     r117.5      r123.6      119.8
          II    r132.1      153.9    r116.5    r154.8      r117.6     r117.2      r126.7      120.7
         III    r132.2      155.1    r117.3    r156.5      r118.3     r118.4      r126.6      121.4
          IV    r132.3      156.0    r117.9    r158.6      r118.9     r119.9      r127.0      122.5

      ANNUAL    r131.8      154.2    r117.0    r155.9      r118.1     r118.3      r126.0      121.1

2005       I    r133.6      157.6    r118.0    r160.5      r119.5     r120.1      r129.4      123.5
          II    r134.1      159.4    r118.8    r160.8      r118.7     r119.9      r131.8      124.3
         III    r135.4      161.3    r119.1    r163.5      r119.1     r120.8      r133.2      125.3
          IV    r135.2      162.0    r119.8    r164.5      r118.8     r121.7      r134.4      126.4

      ANNUAL    r134.6      160.0    r118.9    r162.3      r119.0     r120.6      r132.2      124.9

2006       I    r136.3      164.6    r120.7    r169.6      r122.0     r124.4      r132.2      127.3
          II    r136.7      165.7    r121.2    r169.0      r120.0     r123.6      r136.5      128.3
         III    r136.6      166.5    r121.9    r169.2      r119.3     r123.9      r136.7      128.6
          IV    r137.1     r167.5    r122.2    r172.6      r122.3     r125.9      r133.7     r128.8

      ANNUAL    r136.7     r166.1    r121.5    r170.1      r120.8     r124.4      r134.8     r128.2

---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

2004       I       1.9        3.6       1.7      r1.4        -2.2       -0.5       r10.9        3.6
          II      r4.9        5.2      r0.3      r3.6        -0.4      r-1.2       r10.4        3.1
         III       0.2        3.2       3.0      r4.4        r2.2       r4.2       r-0.4        2.4
          IV       0.4        2.4       2.0       5.6         2.0       r5.2         1.3        3.7

      ANNUAL      r2.9        4.3      r1.4       3.6         0.9        0.7         5.4        2.4

2005       I      r4.0        4.2      r0.3      r4.7        r2.3        0.7         7.7        3.3
          II      r1.5        4.4      r2.9      r0.9       r-2.8      r-0.6        r7.7        2.5
         III      r3.7        4.9      r1.1      r6.8        r1.3       r3.0        r4.2        3.5
          IV     r-0.6        1.8      r2.3      r2.4       r-0.9        3.0         3.7        3.3

      ANNUAL      r2.1        3.8      r1.6      r4.1        r0.8        2.0         4.9        3.1

2006       I      r3.5        6.7      r3.0     r12.9       r11.0       r9.1       r-6.3        2.9
          II       1.2        2.7       1.5     r-1.4       r-6.1      r-2.5       r13.5        3.4
         III     r-0.5        1.9      r2.4      r0.6       r-2.4       r1.1        r0.5        0.8
          IV      r1.6       r2.5      r0.9      r8.2       r10.5       r6.6       r-8.4       r0.5

      ANNUAL      r1.6       r3.8      r2.2      r4.8        r1.5        3.2         1.9        2.7

---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

2004       I       4.3        5.1      r0.8       4.2         2.3       -0.1         4.5        1.6
          II       4.1        5.3       1.2       3.4         0.6       -0.7         7.3        2.3
         III       1.6        3.4      r1.8      r3.1         0.4        1.5         4.2        2.5
          IV      r1.8        3.6       1.7      r3.7         0.4        1.8         5.4        3.2

      ANNUAL      r2.9        4.3      r1.4       3.6         0.9        0.7         5.4        2.4

2005       I      r2.4        3.8       1.4      r4.6         1.5        2.2         4.7        3.1
          II      r1.5        3.6      r2.0      r3.9        r0.9        2.3         4.0        3.0
         III      r2.4        4.0      r1.6      r4.5        r0.7       r2.0        r5.2        3.3
          IV      r2.1        3.8      r1.6      r3.7        r0.0       r1.5        r5.8        3.2

      ANNUAL      r2.1        3.8      r1.6      r4.1        r0.8        2.0         4.9        3.1

2006       I      r2.0        4.4      r2.3      r5.7        r2.0        3.6         2.2        3.0
          II      r1.9        4.0      r2.0      r5.1        r1.1        3.1        r3.6        3.3
         III      r0.9        3.2      r2.3      r3.5        r0.2       r2.6        r2.6        2.6
          IV      r1.4       r3.4      r2.0       4.9         3.0       r3.4       r-0.5        1.9

      ANNUAL      r1.6       r3.8      r2.2      r4.8        r1.5        3.2         1.9        2.7

---------------------------------------------------------------------------------------------------------
See footnotes following Table 6.                                       March 6, 2007
r=revised                                                              Source: Bureau of Labor Statistics




Table 3. Manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
                                                                            Real
     Year           Output per                  Hours       Compensa-       compensa-      Unit 
     and            hour of                     of all      tion per        tion per       labor
     quarter        all persons     Output      persons     hour (1)        hour (2)       costs
--------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

2004       I           r161.7        138.0        r85.4       r157.4         r120.8          97.4
          II           r163.0        138.6        r85.0       r159.7         r121.4         r98.0
         III           r164.1        139.4        r84.9       r163.0         r123.2          99.3
          IV           r166.3        140.5        r84.5       r165.3         r123.9         r99.4

      ANNUAL           r163.8        139.1        r85.0       r161.4         r122.3         r98.5

2005       I           r168.7        142.2        r84.3       r166.2         r123.8         r98.5
          II           r171.2        143.4        r83.8       r167.8         r123.8         r98.0
         III           r172.6        144.2        r83.5       r170.7         r124.3         r98.9
          IV           r173.9        147.0        r84.5       r170.9         r123.4          98.2

      ANNUAL           r171.6        144.2        r84.0       r168.9         r123.9         r98.4

2006       I           r175.7        149.1        r84.9       r176.4         r126.9         100.4
          II           r177.3        151.2        r85.3       r173.9         r123.6         r98.1
         III           r179.9        153.0        r85.1       r173.9         r122.6         r96.7
          IV           r180.9       r152.2        r84.2       r176.8         r125.4         r97.8

      ANNUAL           r178.4       r151.4        r84.8       r175.3         r124.5         r98.2

--------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

2004       I             -1.7          0.4         r2.1       r-10.5          -13.7          -9.0
          II              3.3          1.7         -1.6          5.9            1.8           2.5
         III              2.7          2.2        r-0.5         r8.4           r6.1           5.5
          IV             r5.4          3.4        r-1.9         r5.9           r2.3           0.5

      ANNUAL              1.8          1.3         -0.5          2.0           -0.7           0.2

2005       I             r6.0          4.9        r-1.1         r2.0          r-0.3          -3.8
          II             r5.9          3.3        r-2.4         r3.9           r0.2          -1.9
         III             r3.4          2.2        r-1.2         r7.2           r1.7           3.7
          IV             r3.1          7.9         r4.7         r0.4          r-2.9          -2.6

      ANNUAL             r4.8          3.6         -1.1         r4.7           r1.3          -0.1

2006       I             r4.1          6.0         r1.9        r13.5          r11.5           9.0
          II             r3.8          5.7         r1.9        r-5.4          r-9.9          -8.8
         III             r5.9          4.8        r-1.1        r-0.2          r-3.2         r-5.8
          IV              2.2        r-2.1        r-4.2         r7.1           r9.3          r4.7

      ANNUAL             r4.0          5.0         r1.0         r3.8           r0.5         r-0.2

--------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

2004       I              2.2          0.4         -1.8          1.9            0.0          -0.3
          II             r1.9          1.4        r-0.5          1.6          r-1.2          -0.4
         III             r0.6          1.6          0.9         r2.2          r-0.5           1.6
          IV             r2.4          1.9        r-0.5         r2.1          r-1.2          -0.3

      ANNUAL              1.8          1.3         -0.5          2.0           -0.7           0.2

2005       I             r4.4          3.0        r-1.3          5.5           r2.5           1.1
          II              5.0          3.4         -1.5          5.0            2.0           0.0
         III             r5.2          3.5         -1.6         r4.8           r1.0          -0.4
          IV             r4.6          4.6         r0.0         r3.4          r-0.4          -1.2

      ANNUAL             r4.8          3.6         -1.1         r4.7           r1.3          -0.1

2006       I              4.1          4.9          0.7          6.1           r2.5           2.0
          II             r3.6          5.5         r1.8         r3.7          r-0.2           0.1
         III              4.2          6.1          1.8         r1.8          r-1.4         r-2.3
          IV             r4.0         r3.6        r-0.4         r3.5           r1.5         r-0.5

      ANNUAL             r4.0          5.0         r1.0         r3.8           r0.5         r-0.2

--------------------------------------------------------------------------------------------------
See footnotes following Table 6.                                March 6, 2007
r=revised                                                       Source: Bureau of Labor Statistics


Table 4. Durable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
                                                                            Real
     Year           Output per                  Hours       Compensa-       compensa-      Unit 
     and            hour of                     of all      tion per        tion per       labor
     quarter        all persons     Output      persons     hour (1)        hour (2)       costs
--------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

2004       I           r184.8        165.1        r89.3       r153.6         r117.8         r83.1
          II           r185.3        165.0        r89.0       r156.4         r118.8         r84.4
         III           r185.9        165.9        r89.3       r159.9         r120.8         r86.0
          IV           r187.9        167.2        r89.0       r161.6         r121.1         r86.0

      ANNUAL           r186.0        165.8        r89.1       r157.8         r119.6         r84.9

2005       I           r190.7        169.5        r88.9       r161.7         r120.5          84.8
          II           r193.6        171.5        r88.6       r162.8         r120.2         r84.1
         III           r196.8        174.4        r88.6       r165.9         r120.8         r84.3
          IV           r200.9        180.4        r89.8       r165.7         r119.7         r82.5

      ANNUAL           r195.5        174.0        r89.0       r164.0         r120.3         r83.9

2006       I           r203.0        182.9        r90.1       r171.9         r123.6         r84.7
          II           r205.9        187.0        r90.9       r169.7         r120.5          82.4
         III           r209.9        189.6        r90.3       r169.7         r119.7         r80.8
          IV           r211.7       r189.1        r89.3       r172.8         r122.5         r81.6

      ANNUAL           r207.6       r187.2        r90.1       r171.0         r121.5         r82.4

--------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

2004       I             -2.3          1.8          4.2        -16.1          -19.0         -14.1
          II             r1.1         -0.3        r-1.3          7.5           r3.4           6.4
         III             r1.1          2.3         r1.2         r9.2           r6.9           8.0
          IV             r4.5          3.0        r-1.4         r4.4           r0.8          -0.1

      ANNUAL             r1.1          1.8         r0.7          0.7          r-2.0          -0.5

2005       I             r6.0          5.8        r-0.2         r0.3          r-1.9          -5.4
          II             r6.2          4.8         -1.4         r2.7           -1.0          -3.3
         III             r6.8          6.9         r0.1         r7.9           r2.3           1.0
          IV             r8.7         14.6         r5.4        r-0.6          r-3.8          -8.5

      ANNUAL              5.1          4.9        r-0.2          3.9           r0.6          -1.1

2006       I              4.1          5.5          1.4         15.9          r13.9          11.3
          II             r5.9          9.4         r3.3        r-5.1          r-9.6         -10.4
         III             r8.1          5.5        r-2.4         r0.1          r-2.8         r-7.4
          IV             r3.4        r-0.9        r-4.2         r7.4           r9.7          r3.9

      ANNUAL              6.2          7.6          1.3         r4.3           r1.0         r-1.8

--------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

2004       I              2.5          1.5        r-0.9         r0.3          r-1.5          -2.1
          II             r1.7          2.2         r0.5         r0.4           -2.3          -1.3
         III             -0.7          1.8          2.5          1.2           -1.5           1.9
          IV              1.1          1.7         r0.7         r0.7           -2.5          -0.4

      ANNUAL             r1.1          1.8         r0.7          0.7          r-2.0          -0.5

2005       I             r3.2          2.7         -0.4          5.3            2.2           2.1
          II              4.4          4.0         -0.4          4.1            1.1          -0.3
         III              5.9          5.1         -0.7          3.8            0.0          -2.0
          IV              6.9          8.0         r0.9          2.5          r-1.1          -4.1

      ANNUAL              5.1          4.9        r-0.2          3.9           r0.6          -1.1

2006       I             r6.4          7.9         r1.4         r6.3            2.6          -0.1
          II             r6.4          9.1         r2.5          4.2           r0.3          -2.0
         III             r6.7          8.7         r1.9         r2.3          r-1.0         r-4.1
          IV             r5.4         r4.8        r-0.5         r4.3           r2.3         r-1.0

      ANNUAL              6.2          7.6          1.3         r4.3           r1.0         r-1.8

--------------------------------------------------------------------------------------------------
See footnotes following Table 6.                                March 6, 2007
r=revised                                                       Source: Bureau of Labor Statistics




Table 5. Nondurable manufacturing sector: Productivity, hourly compensation, and unit labor costs,
seasonally adjusted
                                                                            Real
     Year           Output per                  Hours       Compensa-       compensa-      Unit 
     and            hour of                     of all      tion per        tion per       labor
     quarter        all persons     Output      persons     hour (1)        hour (2)       costs
--------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

2004       I           r138.4        110.1        r79.5       r163.0         r125.1        r117.8
          II           r140.6        111.2        r79.1       r164.2         r124.8        r116.8
         III           r142.5        111.8        r78.4       r166.8         r126.1        r117.0
          IV           r144.9        112.8        r77.9       r170.4         r127.7        r117.6

      ANNUAL           r141.6        111.5        r78.7       r166.1         r125.9        r117.3

2005       I           r147.1        113.9        r77.4       r172.5         r128.5        r117.2
          II           r149.3        114.3        r76.6       r175.0         r129.2        r117.2
         III           r149.5        113.5        r75.9       r177.5         r129.3         118.7
          IV           r148.6        113.8        r76.6       r178.4         r128.9        r120.1

      ANNUAL           r148.6        113.9        r76.6       r175.9         r129.0        r118.3

2006       I           r150.0        115.6        r77.1       r182.4         r131.2        r121.6
          II           r150.8        116.1        r77.0       r179.4         r127.5        r119.0
         III           r151.8        117.3        r77.2       r179.2         r126.3        r118.0
          IV           r152.1       r116.2        r76.4       r182.0         r129.0        r119.6

      ANNUAL           r151.2       r116.3        r76.9       r180.7         r128.4        r119.6

--------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

2004       I             r0.2         -1.2        r-1.3         r0.6          r-2.9           0.4
          II             r6.4          4.1        r-2.1         r2.9          r-1.1          -3.3
         III             r5.6          2.0        r-3.3         r6.5           r4.2           0.9
          IV             r6.8          3.7        r-2.9         r8.9           r5.2           2.0

      ANNUAL              3.2          0.8         -2.4          4.2            1.5           1.0

2005       I             r6.4          3.8        r-2.5         r5.1           r2.7          -1.2
          II             r6.1          1.6        r-4.2         r6.1           r2.2          -0.1
         III             r0.6         -2.8        r-3.4         r5.8           r0.3           5.1
          IV            r-2.5          0.9         r3.5         r2.1          r-1.2           4.7

      ANNUAL             r5.0          2.1        r-2.7         r5.9           r2.5           0.9

2006       I             r3.8          6.6         r2.7         r9.2           r7.3           5.2
          II             r2.2          1.7        r-0.6        r-6.3         r-10.8          -8.4
         III             r2.7          4.1         r1.4        r-0.5           -3.5         r-3.1
          IV             r0.8        r-3.5        r-4.2         r6.4           r8.7          r5.6

      ANNUAL             r1.7         r2.1         r0.4         r2.8          r-0.4           1.0

--------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

2004       I              2.2         -0.9         -3.1          4.6            2.7           2.3
          II              2.8          0.5         -2.2          3.6            0.8           0.8
         III             r3.1          1.4         -1.7         r3.9            1.2           0.8
          IV              4.7          2.1        r-2.4          4.7            1.3           0.0

      ANNUAL              3.2          0.8         -2.4          4.2            1.5           1.0

2005       I             r6.3          3.4        r-2.7         r5.8           r2.7         r-0.4
          II             r6.2          2.8         -3.2         r6.6           r3.6           0.4
         III             r4.9          1.5        r-3.2         r6.4           r2.6           1.4
          IV             r2.6          0.9        r-1.7         r4.7           r1.0           2.1

      ANNUAL             r5.0          2.1        r-2.7         r5.9           r2.5           0.9

2006       I             r1.9          1.5        r-0.4         r5.7           r2.1           3.7
          II             r1.0          1.5         r0.5         r2.5          r-1.3           1.5
         III             r1.5          3.3         r1.8         r0.9          r-2.3         r-0.6
          IV             r2.4         r2.2        r-0.2         r2.0           r0.1         r-0.4

      ANNUAL             r1.7         r2.1         r0.4         r2.8          r-0.4           1.0

--------------------------------------------------------------------------------------------------
See footnotes following Table 6.                                March 6, 2007
r=revised                                                       Source: Bureau of Labor Statistics




Table 6. Nonfinancial corporate sector: Productivity, hourly compensation, unit labor costs, unit profits,
and prices, seasonally adjusted
              Output                      Hourly    Real                Unit     Total    Unit   Implicit
    Year      per all-                    compen-   hourly     Unit     non-     unit     pro-   price
    and       employee          Employee  sation    compen-    labor    labor    costs    fits   deflator
    quarter   hour      Output  hours      (1)      sation(2)  costs    costs(6) (7)      (8)      (4)
----------------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

2004       I   r137.4    159.5    r116.0   r151.8    r116.5     110.5    109.2    110.1    131.3    112.0
          II    138.2    160.6     116.2    153.2     116.4     110.8    109.7    110.5    139.7    113.1
         III   r139.7    163.2    r116.8   r154.9    r117.1     110.9    109.8    110.6    143.1    113.5
          IV   r139.8    164.0    r117.3   r157.0    r117.6     112.3    110.2    111.7    143.6    114.6

      ANNUAL   r138.8    161.8    r116.6   r154.2    r116.9     111.1    109.7    110.7    139.5    113.3

2005       I   r141.2    165.6    r117.3   r158.7    r118.2     112.4    111.5    112.2    150.2    115.6
          II   r142.1    168.0    r118.2   r159.1    r117.4     111.9    111.9    111.9    161.4    116.4
         III   r142.2    168.9    r118.8   r161.8    r117.9     113.8    114.9    114.1    152.9    117.6
          IV   r142.3    170.4    r119.7   r162.8    r117.6     114.4    113.3    114.1    163.7    118.5

      ANNUAL   r142.0    168.2    r118.5   r160.6    r117.8     113.1    112.9    113.1    157.1    117.0

2006       I   r145.9    175.6    r120.4   r167.4    r120.4     114.7    111.1    113.8    177.3    119.4
          II   r144.3    174.4    r120.9   r167.1    r118.7     115.8    113.7    115.2    172.1    120.3
         III   r145.7   r177.0    r121.5   r167.5    r118.1    r114.9   r112.1   r114.2   r184.4   r120.4
----------------------------------------------------------------------------------------------------------
                             Percent change from previous quarter at annual rate(5)

2004       I      2.3      5.0      r2.6    r-0.4      -3.9      -2.7     -3.0     -2.8     54.5      1.8
          II      2.3      2.8      r0.6      3.7      -0.3       1.4      1.8      1.5     28.0      4.1
         III     r4.3      6.6      r2.2     r4.5      r2.3       0.2      0.4      0.2     10.2      1.3
          IV      0.4      2.0       1.5      5.6       2.0       5.2      1.5      4.2      1.3      3.8

      ANNUAL      3.1      4.5      r1.4      3.2       0.5       0.1     -1.2     -0.3     26.9      2.1

2005       I     r4.0      4.1      r0.1     r4.4      r2.0       0.4      5.0      1.6     19.7      3.5
          II     r2.6      5.7      r3.1     r0.9     r-2.8      -1.6      1.5     -0.8     33.6      2.8
         III     r0.1      2.2      r2.0     r7.1      r1.5       7.0     11.1      8.1    -19.6      4.3
          IV     r0.5      3.6      r3.1     r2.5     r-0.8       2.0     -5.4      0.0     31.2      3.3

      ANNUAL     r2.3      4.0      r1.6     r4.1      r0.8       1.8      3.0      2.1     12.6      3.3

2006       I    r10.4     13.0      r2.3    r11.8      r9.8       1.2     -7.7     -1.2     37.9      3.1
          II    r-4.4     -2.7      r1.7    r-0.8     r-5.6       3.7      9.6      5.3    -11.4      2.9
         III     r4.1     r6.1      r1.9     r1.1     r-2.0     r-2.9    r-5.4    r-3.6    r31.8      0.5
----------------------------------------------------------------------------------------------------------
                          Percent change from corresponding quarter of previous year

2004       I     r4.0      4.7      r0.7      3.8      r1.9      -0.2     -3.1     -1.0     27.5      1.4
          II      3.3      4.5       1.2      2.9       0.1      -0.3     -1.2     -0.6     32.1      2.2
         III      2.8      4.7       1.8     r2.7       0.0      -0.1     -0.8     -0.3     26.9      2.2
          IV     r2.3      4.1       1.7     r3.3       0.0       1.0      0.2      0.8     21.9      2.8

      ANNUAL      3.1      4.5      r1.4      3.2       0.5       0.1     -1.2     -0.3     26.9      2.1

2005       I     r2.8      3.9       1.1      4.5       1.5       1.7      2.2      1.9     14.4      3.2
          II     r2.8      4.6      r1.7     r3.8      r0.9       1.0      2.1      1.3     15.6      2.9
         III     r1.8      3.5      r1.7     r4.5      r0.7       2.7      4.7      3.2      6.8      3.6
          IV     r1.8      3.9      r2.1     r3.7      r0.0       1.9      2.9      2.1     14.0      3.5

      ANNUAL     r2.3      4.0      r1.6     r4.1      r0.8       1.8      3.0      2.1     12.6      3.3

2006       I     r3.3      6.0      r2.6     r5.5      r1.8       2.1     -0.4      1.4     18.1      3.4
          II     r1.5      3.8      r2.3     r5.0      r1.1       3.5      1.5      2.9      6.6      3.4
         III     r2.5     r4.8      r2.2     r3.5      r0.2      r1.0    r-2.5     r0.0    r20.6      2.4
----------------------------------------------------------------------------------------------------------
See footnotes following Table 6.                                        March 6, 2007
r=revised                                                               Source: Bureau of Labor Statistics






SOURCES:  Output data are from the Bureau of Economic Analysis and the Census Bureau of the U.S. 
Department of Commerce; the Bureau of Labor Statistics, U.S. Department of Labor; and the Federal Reserve 
Board.  Compensation and hours data are from the Bureau of Labor Statistics and the Bureau of Economic 
Analysis.

RELIABILITY:  Productivity and cost measures are regularly revised as more complete information becomes 
available.  The measures are first published within 40 days of the close of the reference period; revisions appear 30 
days later, and second revisions after an additional 60 days.  In the business sector, the third publication (second 
revision) of a quarterly index of output per hour of all persons has differed from the initial value by between -1.3 
and +1.3 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 2006.

					Footnotes, Tables 1-6

(1)  Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans.  
Except for nonfinancial corporations, where there are no self-employed, data also include an estimate of 
wages, salaries, and supplemental payments for the self-employed.

(2)  The change for recent quarters is based on the Consumer Price Index for all urban consumers (CPI-U).  The 
trend from 1978-2005 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.




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

 2002       I    r122.8      141.9    r115.5    r143.7      r115.6     r117.0      r113.2      115.6
           II    r123.4      142.6    r115.6    r145.4      r116.0     r117.9      r112.6      115.9
          III    r124.8      143.8    r115.2    r146.1      r116.0     r117.1      r114.7      116.2
           IV    r124.8      144.0    r115.4    r146.1      r115.3     r117.1      r116.0      116.7

       ANNUAL    r123.9      143.1    r115.4    r145.3      r115.7     r117.3      r114.1      116.1

 2003       I    r125.8      144.4    r114.8    r148.1      r115.7     r117.7      r116.5      117.3
           II    r127.9      146.0    r114.1    r150.8      r117.8     r117.9      r116.7      117.4
          III    r130.8      149.7    r114.5    r152.5      r118.4     r116.6      r120.2      118.0
           IV    r130.3      150.1    r115.2    r153.6      r118.9     r117.9      r119.5      118.5

       ANNUAL    r128.7      147.5    r114.6    r151.2      r117.7     r117.5      r118.3      117.8

 ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

 2002       I      r5.6        2.6      -2.9      r5.7        r4.2        0.1        r0.4        0.2
           II      r1.8        2.1      r0.3       4.7        r1.6       r2.8       r-2.1        1.0
          III      r4.8        3.6     r-1.2      r2.0       r-0.2      r-2.7        r7.9        1.0
           IV     r-0.2        0.5      r0.6     r-0.1       r-2.4        0.1        r4.6        1.7

       ANNUAL       4.1        1.5      -2.5      r3.5        r1.9       -0.5         3.8        1.0

 2003       I      r3.3        1.1     r-2.2      r5.5        r1.5        2.1         1.7        1.9
           II      r7.0        4.6     r-2.2      r7.6        r7.3       r0.6        r0.6        0.6
          III      r9.1       10.4      r1.2      r4.7         2.1      r-4.1       r12.5        1.8
           IV     r-1.3        1.1       2.5       2.9         1.8        4.3        -2.1        1.8

       ANNUAL       3.8        3.1      -0.7      r4.1         1.7        0.2         3.6        1.5

 ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

 2002       I       4.8        0.5      -4.1       3.4         2.2       -1.3         6.3        1.3
           II       3.9        0.8     r-2.9       3.9        r2.5        0.0         2.4        0.9
          III       4.7        2.5      -2.1       3.8         2.2       -0.8         3.9        0.9
           IV       3.0        2.2      -0.8       3.1         0.8        0.1         2.6        1.0

       ANNUAL       4.1        1.5      -2.5      r3.5        r1.9       -0.5         3.8        1.0

 2003       I       2.4        1.8      -0.6       3.0         0.1        0.6        r2.9        1.4
           II       3.7        2.4     r-1.3       3.7         1.5        0.0        r3.6        1.3
          III       4.7        4.0      -0.7       4.4         2.1       -0.4         4.7        1.5
           IV       4.4        4.2      -0.2       5.1        r3.2        0.7         3.0        1.5

       ANNUAL       3.8        3.1      -0.7      r4.1         1.7        0.2         3.6        1.5

 --------------------------------------------------------------------------------------------------------
 See footnotes following Table 6.                                      March 6, 2007
 r=revised                                                             Source: Bureau of Labor Statistics




Appendix table 2. Nonfarm business sector: Revised productivity, hourly compensation, unit labor costs,
and prices, seasonally adjusted
                                                            Real
    Year       Output per             Hours     Compensa-   compensa-   Unit     Unit non-   Implicit
    and        hour of                of all    tion per    tion per    labor    labor pay-  price
    quarter    all persons  Output    persons   hour (1)    hour (2)    costs    ments (3)   deflator (4)
 ---------------------------------------------------------------------------------------------------------
                                           Indexes 1992=100

 2002       I    r122.7      142.5    r116.1    r143.1      r115.0     r116.6      r115.0      116.0
           II    r122.9      143.0    r116.3    r144.6      r115.4     r117.7      r114.8      116.6
          III    r124.2      144.1    r116.0    r145.3      r115.3     r117.0      r116.6      116.9
           IV    r124.1      144.1    r116.1    r145.4      r114.7     r117.1      r117.7      117.3

       ANNUAL    r123.5      143.4    r116.1    r144.6      r115.1     r117.1      r116.0      116.7

 2003       I    r125.2      144.6    r115.5    r147.3      r115.1     r117.7      r118.3      117.9
           II    r126.9      146.1    r115.1    r149.7      r116.9     r118.0      r118.1      118.0
          III    r130.1      150.0    r115.3    r151.7      r117.8     r116.6      r121.5      118.4
           IV    r129.9      150.6    r115.9    r152.9      r118.4     r117.7      r120.5      118.7

       ANNUAL    r128.0      147.8    r115.4    r150.4      r117.1     r117.5      r119.6      118.3

 ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

 2002       I      r6.9        3.5      -3.2      r6.2        r4.7      r-0.7        r1.2        0.0
           II      r0.7        1.4      r0.6      r4.4        r1.3       r3.6       r-0.9        2.0
          III      r4.2        3.1     r-1.0      r1.9        -0.4       -2.2        r6.6        0.9
           IV     r-0.1        0.1      r0.2      r0.1       r-2.2       r0.2        r3.9        1.6

       ANNUAL       4.1        1.5      -2.6      r3.6         2.0       -0.5         4.0        1.1

 2003       I      r3.4        1.2     r-2.1      r5.5        r1.5       r2.0         1.8        2.0
           II      r5.7        4.3     r-1.3      r6.7        r6.5       r1.0       r-0.6        0.4
          III     r10.4       11.0      r0.5       5.4         2.9      r-4.5       r11.9        1.3
           IV     r-0.5        1.6       2.2      r3.3        r2.2        3.8        -3.2        1.1

       ANNUAL       3.7        3.1      -0.6       4.0         1.7        0.3         3.1        1.3

 ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

 2002       I       5.1        0.7      -4.2       3.5         2.2       -1.6         6.5        1.2
           II       3.9        0.8     r-3.0       4.0         2.7        0.1         2.8        1.0
          III       4.5        2.3      -2.1       3.9         2.3       -0.6         4.1        1.1
           IV       2.9        2.0     r-0.8      r3.1         0.9        0.2         2.7        1.1

       ANNUAL       4.1        1.5      -2.6      r3.6         2.0       -0.5         4.0        1.1

 2003       I       2.0        1.5     r-0.6      r3.0        r0.1        0.9         2.8        1.6
           II       3.3        2.2      -1.0       3.5         1.3        0.2         2.9        1.2
          III       4.8        4.1     r-0.7       4.4         2.1       -0.4         4.2        1.3
           IV      r4.7        4.5     r-0.2       5.2         3.2        0.5         2.3        1.2

       ANNUAL       3.7        3.1      -0.6       4.0         1.7        0.3         3.1        1.3

 --------------------------------------------------------------------------------------------------------
 See footnotes following Table 6.                                      March 6, 2007
 r=revised                                                             Source: Bureau of Labor Statistics




Appendix table 3. Manufacturing sector: Revised productivity, hourly compensation, and unit labor
costs, seasonally adjusted
                                                                             Real
      Year           Output per                  Hours       Compensa-       compensa-      Unit 
      and            hour of                     of all      tion per        tion per       labor
      quarter        all persons     Output      persons     hour (1)        hour (2)       costs
 --------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

 2002       I          147.8        134.2         90.8        144.6          116.2          97.9
           II         r150.5        136.1        r90.4       r147.6         r117.8          98.1
          III         r153.1        137.0        r89.5       r149.1         r118.4         r97.4
           IV         r154.7        136.8        r88.4       r150.2         r118.5         r97.1

       ANNUAL         r151.5        136.0        r89.8       r147.9         r117.7          97.6

 2003       I         r158.2        137.5        r86.9       r154.6         r120.8          97.7
           II         r159.9        136.7        r85.5       r157.3         r122.8         r98.4
          III         r163.0        137.2        r84.2       r159.4         r123.7         r97.8
           IV         r162.4        137.9        r84.9       r161.9         r125.3         r99.7

       ANNUAL         r160.9        137.3        r85.4       r158.3         r123.2          98.4

 --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

 2002       I           10.0          2.4         -6.9         17.1           15.4           6.4
           II           r7.8          5.8        r-1.8         r8.7           r5.5           0.9
          III           r6.9          2.7         -3.9         r4.2           r1.9          -2.5
           IV           r4.4         -0.7        r-4.9         r2.8           r0.4          -1.5

       ANNUAL            7.0         -0.6         -7.1          7.3            5.6           0.2

 2003       I           r9.3          2.2        r-6.5        r12.2           r8.0           2.7
           II           r4.4         -2.4        r-6.5         r7.2           r7.0           2.7
          III            8.1          1.6         -6.0         r5.5            3.0          -2.4
           IV          r-1.7          2.1         r3.8         r6.4           r5.2           8.2

       ANNUAL            6.2          1.0         -4.9          7.0            4.6           0.8

 --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

 2002       I            5.5         -4.4         -9.4          4.7            3.4          -0.8
           II            6.9         -1.4        r-7.8          7.5            6.1           0.5
          III            8.3          1.2         -6.6          8.8           r7.2           0.5
           IV           r7.2          2.5         -4.4         r8.0            5.7           0.7

       ANNUAL            7.0         -0.6         -7.1          7.3            5.6           0.2

 2003       I            7.1          2.5         -4.3          6.9            3.9          -0.2
           II            6.2          0.4         -5.4          6.5            4.3           0.3
          III            6.5          0.2         -6.0          6.9            4.6           0.3
           IV            4.9          0.8         -3.9          7.8            5.8           2.7

       ANNUAL            6.2          1.0         -4.9          7.0            4.6           0.8

 -------------------------------------------------------------------------------------------------
 See footnotes following Table 6.                               March 6, 2007
 r=revised                                                      Source: Bureau of Labor Statistics




Appendix table 4. Durable manufacturing sector: Revised productivity, hourly compensation, and 
unit labor costs seasonally adjusted
                                                                             Real
      Year           Output per                  Hours       Compensa-       compensa-      Unit 
      and            hour of                     of all      tion per        tion per       labor
      quarter        all persons     Output      persons     hour (1)        hour (2)       costs
 --------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

 2002       I         r165.7        156.9        r94.7       r141.9         r114.1          85.6
           II         r169.6        160.0        r94.3       r145.0         r115.7         r85.5
          III         r173.3        161.8        r93.3       r146.1         r115.9         r84.3
           IV         r176.6        161.9        r91.7       r147.3         r116.2         r83.4

       ANNUAL         r171.2        160.1        r93.5       r145.0         r115.5          84.7

 2003       I         r180.4        162.6        r90.1       r153.0         r119.6          84.8
           II         r182.3        161.4        r88.6       r155.8         r121.7         r85.4
          III         r187.2        163.0        r87.1       r158.0         r122.7         r84.4
           IV         r185.9        164.3        r88.4       r160.5         r124.2          86.3

       ANNUAL         r183.9        162.8        r88.5       r156.8         r122.0          85.3

 --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

 2002       I          r11.4          2.7         -7.9        r12.0          r10.4           0.5
           II           r9.6          8.2        r-1.4         r9.2           r6.0          -0.4
          III            9.1          4.5         -4.2         r3.0            0.7          -5.6
           IV           r7.8          0.4        r-6.8         r3.2           r0.9          -4.2

       ANNUAL            7.8         -1.1         -8.3          6.4            4.7          -1.3

 2003       I           r8.9          1.6        r-6.7        r16.6          r12.3           7.1
           II           r4.4         -2.8        r-6.9         r7.4           r7.1           2.9
          III           11.2          4.0         -6.5          5.8            3.3          -4.8
           IV          r-2.7          3.3         r6.1         r6.3           r5.2           9.3

       ANNUAL            7.4          1.7         -5.3          8.1            5.7           0.7

 --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

 2002       I            5.1         -6.6        -11.2          4.1           r2.8          -1.0
           II           r7.2         -2.6        r-9.2         r6.8            5.4          -0.4
          III           r9.2          1.2         -7.3         r7.8            6.1          -1.3
           IV            9.5          3.9         -5.1          6.8           r4.4          -2.5

       ANNUAL            7.8         -1.1         -8.3          6.4            4.7          -1.3

 2003       I           r8.8          3.6         -4.8          7.9            4.9          -0.9
           II            7.5          0.9         -6.1          7.4            5.1          -0.1
          III            8.0          0.8         -6.7         r8.2            5.8           0.1
           IV            5.3          1.5         -3.6          9.0            6.9           3.5

       ANNUAL            7.4          1.7         -5.3          8.1            5.7           0.7

 -------------------------------------------------------------------------------------------------
 See footnotes following Table 6.                               March 6, 2007
 r=revised                                                      Source: Bureau of Labor Statistics




Appendix table 5. Nondurable manufacturing sector: Revised productivity, hourly compensation, and 
unit labor costs seasonally adjusted
                                                                             Real
      Year           Output per                  Hours       Compensa-       compensa-      Unit 
      and            hour of                     of all      tion per        tion per       labor
      quarter        all persons     Output      persons     hour (1)        hour (2)       costs
 --------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

 2002       I         r129.4        110.0        r85.0       r148.2         r119.1         114.5
           II         r131.2        110.9        r84.5       r150.9         r120.4         115.0
          III          132.5        111.0         83.8        153.3          121.6         115.6
           IV         r132.4        110.4        r83.4       r154.2         r121.7        r116.5

       ANNUAL         r131.4        110.6        r84.2       r151.6         r120.7         115.4

 2003       I         r135.4        111.1        r82.1       r155.9         r121.8        r115.1
           II          136.8        110.6         80.9        158.5          123.8         115.9
          III         r138.2        110.3        r79.8       r160.5         r124.6        r116.1
           IV         r138.4        110.4        r79.8       r162.8         r126.0         117.6

       ANNUAL         r137.2        110.6        r80.6       r159.4         r124.1         116.2

 --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

 2002       I           r8.3          2.5        r-5.4        r27.8          r26.0          18.0
           II           r5.9          3.2        r-2.6         r7.6            4.5           1.6
          III           r4.0          0.5         -3.4          6.5           r4.1           2.4
           IV          r-0.6         -2.2        r-1.6         r2.4           r0.0           3.0

       ANNUAL            5.7          0.3         -5.1          9.4           r7.7           3.5

 2003       I           r9.5          2.7        r-6.2         r4.4           r0.5          -4.7
           II           r4.2         -1.9        r-5.9         r7.1           r6.9           2.7
          III           r4.2         -1.3        r-5.2         r5.1           r2.5           0.9
           IV            0.5          0.6          0.1          5.8            4.7           5.3

       ANNUAL            4.4          0.0         -4.2         r5.1            2.8           0.7

 --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

 2002       I            5.2         -1.5        r-6.4          6.4            5.1           1.1
           II            6.0          0.4         -5.3          9.3            7.9           3.1
          III            7.2          1.4         -5.4         11.1            9.4           3.7
           IV            4.4          1.0         -3.3         10.7            8.2           6.0

       ANNUAL            5.7          0.3         -5.1          9.4           r7.7           3.5

 2003       I           r4.7          1.0         -3.5          5.2            2.3           0.5
           II            4.2         -0.2         -4.3          5.1            2.8           0.8
          III            4.3         -0.7        r-4.7          4.7           r2.4           0.4
           IV           r4.5          0.0         -4.3          5.6            3.6           1.0

       ANNUAL            4.4          0.0         -4.2         r5.1            2.8           0.7

 -------------------------------------------------------------------------------------------------
 See footnotes following Table 6.                               March 6, 2007
 r=revised                                                      Source: Bureau of Labor Statistics




Appendix table 6. Nonfinancial corporate sector: Revised productivity, hourly compensation, unit labor
costs, unit profits, and prices, seasonally adjusted

               Output                      Hourly    Real                Unit     Total    Unit   Implicit
     Year      per all-                    compen-   hourly     Unit     non-     unit     pro-   price
     and       employee          Employee  sation    compen-    labor    labor    costs    fits   deflator
     quarter   hour      Output  hours      (1)      sation(2)  costs    costs(6) (7)      (8)      (4)
 ----------------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

 2002       I   r127.3    149.3    r117.3   r141.6    r113.8     111.2    113.0    111.7     85.8    109.4
           II   r129.3    151.3    r117.0   r143.5    r114.5     111.0    110.7    110.9     94.5    109.4
          III   r130.6    152.2    r116.6   r144.4    r114.6     110.6    110.0    110.5    100.3    109.5
           IV   r131.6    153.0    r116.3   r144.9    r114.3     110.1    109.6    110.0    111.2    110.1

       ANNUAL   r129.7    151.5    r116.8   r143.6    r114.3     110.7    110.8    110.7     98.0    109.6

 2003       I   r132.1    152.3    r115.3   r146.2    r114.3     110.7    112.6    111.2    102.9    110.5
           II   r133.8    153.6    r114.8   r148.8    r116.2     111.2    111.0    111.2    105.7    110.7
          III   r135.9    155.9    r114.7   r150.8    r117.1     111.0    110.7    110.9    112.8    111.1
           IV   r136.6    157.5    r115.3   r152.0    r117.7     111.2    110.0    110.9    117.8    111.5

       ANNUAL   r134.6    154.8    r115.0   r149.5    r116.3     111.0    111.1    111.0    109.9    110.9

 ----------------------------------------------------------------------------------------------------------
                             Percent change from previous quarter at annual rate(5)

 2002       I     r5.2      2.9     r-2.2     r2.5      r1.1      -2.6     -9.0     -4.4     66.8     -0.8
           II     r6.4      5.6      -0.8      5.4      r2.3      -0.9     -7.9     -2.9     46.9      0.1
          III     r4.0      2.3      -1.5     r2.7      r0.4      -1.2     -2.4     -1.6     27.0      0.5
           IV     r3.1      2.0     r-1.1     r1.2     r-1.1      -1.9     -1.6     -1.8     50.9      1.9

       ANNUAL      4.0      0.9     r-3.0      3.6       2.0      -0.4     -1.6     -0.7     19.2      0.6

 2003       I     r1.6     -1.8     r-3.3     r3.9      r0.0       2.3     11.4      4.7    -26.5      1.5
           II     r5.3      3.6     r-1.6     r7.3      r7.0       1.9     -5.6     -0.2     11.3      0.7
          III     r6.3      6.1     r-0.2     r5.4       2.9      -0.8     -1.2     -0.9     29.4      1.4
           IV     r2.3      4.3       2.0     r3.2       2.0       0.9     -2.5     -0.1     18.9      1.6

       ANNUAL     r3.8      2.2      -1.5     r4.1      r1.8       0.3      0.2      0.3     12.1      1.2

 ----------------------------------------------------------------------------------------------------------
                          Percent change from corresponding quarter of previous year

 2002       I      3.0     -1.7     r-4.5      3.6      r2.3       0.6      3.5      1.4     -1.9      1.2
           II      3.8      0.2      -3.5      4.0       2.7       0.2     -0.8     -0.1      8.7      0.5
          III      4.6      1.9      -2.6     r3.7      r2.1      -0.8     -3.5     -1.5     27.0      0.3
           IV      4.7      3.2     r-1.4     r2.9       0.7      -1.7     -5.3     -2.7     47.2      0.4

       ANNUAL      4.0      0.9     r-3.0      3.6       2.0      -0.4     -1.6     -0.7     19.2      0.6

 2003       I     r3.8      2.0     r-1.7     r3.3      r0.4      -0.5     -0.4     -0.4     20.0      1.0
           II     r3.5      1.5      -1.9      3.7       1.5       0.2      0.3      0.2     11.9      1.1
          III      4.1      2.4      -1.6      4.4       2.1       0.3      0.6      0.4     12.4      1.4
           IV      3.8      3.0      -0.8      4.9      r3.0       1.0      0.3      0.8      5.9      1.3

       ANNUAL     r3.8      2.2      -1.5     r4.1      r1.8       0.3      0.2      0.3     12.1      1.2

 ---------------------------------------------------------------------------------------------------------
 See footnotes following Table 6.                                       March 6, 2007
 r=revised                                                              Source: Bureau of Labor Statistics