USDL 05-344 
TRANSMISSION OF THIS
MATERIAL IS EMBARGOED
UNTIL 8:30 A.M. EST,
THURSDAY, MARCH 3, 2005

Internet address:       http://www.bls.gov/lpc       
Historical, technical   (202) 691-5606                                
  information:                
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                           PRODUCTIVITY AND COSTS
              Fourth Quarter and Annual Averages, 2004, 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 annual changes for the full year 2004.  Percent changes in business
and nonfarm business productivity were:
     
                                        Fourth  Annual averages
                                        quarter     2003-2004
                                 
     Business sector                      3.7         4.0
     Nonfarm business sector              2.1         4.0
     
     In the fourth quarter, productivity increased 3.7 percent in the
business sector, more than the 2.5 percent preliminary estimate published
Feb. 3.  In nonfarm businesses, productivity grew 2.1 percent, compared to
the preliminary estimate of 0.8 percent (seasonally adjusted annual rates).
On an annual average basis, productivity rose 4.0 percent in both sectors--
the same as the preliminary estimate for the business sector, and 0.1
percentage point lower than previously reported for nonfarm businesses.

     In the manufacturing sector, increases in productivity were:

                                  	Fourth  Annual averages
                                 	quarter     2003-2004
                                 	
     Manufacturing                        5.8         5.2
       Durable goods manufacturing        7.1         6.3
       Nondurable goods manufacturing     3.9         4.3
     
     Productivity in total manufacturing grew at a 5.8 percent annual rate in
the fourth quarter of 2004, slightly more than the 5.6 percent preliminary
estimate, as a downward revision to fourth-quarter productivity growth in
durable goods manufacturing partially offset an upward revision to output per
hour in the nondurable goods subsector.  Productivity increases from 2003 to
2004 were revised upward in total manufacturing and both subsectors.  Output
and hours in manufacturing, which includes about 13 percent of U.S. business-
sector employment, tend to vary more from quarter to quarter than data for
the aggregate business and nonfarm business sectors. Fourth-quarter
productivity and related measures are summarized in table A and 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 2004 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           3.7       4.2      0.5     4.5        0.9        0.8
 Nonfarm business   2.1       3.7      1.6     3.4       -0.2        1.3
 Manufacturing      5.8       4.6     -1.1     6.2        2.5        0.4
   Durable          7.1       6.0     -1.0     6.6        2.9       -0.5
   Nondurable       3.9       2.5     -1.3     5.4        1.8        1.5
------------------------------------------------------------------------------   
                      Percent change from same quarter a year ago
                      
 Business           3.2       4.5      1.3     4.6        1.2        1.4
 Nonfarm business   2.8       4.4      1.6     4.2        0.9        1.4
 Manufacturing      5.2       5.0     -0.2     4.7        1.3       -0.5
   Durable          5.7       6.5      0.8     4.3        0.9       -1.4
   Nondurable       4.8       3.0     -1.7     5.2        1.8        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 2004 CHANGES

Business

     Labor productivity in the business sector rose at a 3.7 percent annual
rate in the fourth quarter of 2004, as output increased 4.2 percent and hours
of all persons engaged in the sector increased 0.5 percent (table 1).  Output
was revised up and hours growth was revised down, resulting in a larger
productivity gain than originally reported. Revised estimates show that
output per hour increased 2.0 percent in the third quarter, as output
increased 4.5 percent and hours increased 2.5 percent.

     Hourly compensation grew at a 4.5-percent annual rate in the fourth
quarter, compared with a 5.8-percent rise in the third quarter.  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, rose 0.9 percent in the fourth quarter of 2004
after increasing 4.1 percent one quarter earlier.

     Unit labor costs, which reflect changes in hourly compensation and
productivity, increased 0.8 percent during the fourth quarter of 2004, after
rising 3.7 percent in the third quarter.  The implicit price deflator for
business output, which reflects changes in unit labor costs and unit nonlabor
payments, increased 2.1 percent in the fourth quarter and 1.1 percent in the
third quarter.

Nonfarm business

     In the nonfarm business sector, productivity rose at an annual rate of
2.1 percent in the fourth quarter of 2004, as output grew 3.7 percent and
hours of all persons--employees, proprietors, and unpaid family workers--rose
1.6 percent (seasonally adjusted annual rates).     Nonfarm business
productivity increased 1.3 percent in the third quarter of 2004, as output
and hours grew 4.2 percent and 2.8 percent, respectively (table 2).

     Hourly compensation rose 3.4 percent in the fourth quarter, after
increasing 5.4 percent in the third quarter.  When the increase in consumer
prices was taken into account, real hourly compensation fell 0.2 percent in
the fourth quarter and rose 3.7 percent in the third quarter.

     Unit labor costs rose 1.3 percent in the fourth quarter after increasing
4.0 percent one quarter earlier.  The implicit price deflator for nonfarm
business increased 2.2 percent in the fourth quarter, and 1.8 percent in the
third quarter, of 2004.

Manufacturing

     Manufacturing productivity increased 5.8 percent in the fourth quarter
of 2004, as output grew 4.6 percent and hours fell 1.1 percent (seasonally
adjusted annual rates).   In durable goods industries, productivity increased
7.1 percent when output grew 6.0 percent and hours fell 1.0 percent.  In
nondurable goods industries, output per hour gained 3.9 percent, reflecting
an increase of 2.5 percent in output and a 1.3 percent decline in hours.
During the third quarter, productivity increased 4.4 percent in total
manufacturing, 4.6 percent in durable goods manufacturing, and 4.8 percent in
nondurable goods manufacturing (tables 3, 4, and 5).

     Hourly compensation of all manufacturing workers increased 6.2 percent
during the fourth quarter--6.6 percent in durable goods and 5.4 percent in
nondurable goods.  When the increase in consumer prices was taken into
account, real hourly compensation for all manufacturing workers rose 2.5
percent in the fourth quarter and 7.4 percent in the third quarter (as
revised).

     Unit labor costs in manufacturing rose 0.4 percent in the fourth quarter
of 2004, after increasing 4.6 percent in the third quarter.  These costs
declined 0.5 percent in durable goods industries and rose 1.5 percent in
nondurable goods industries during the fourth quarter of 2004.


                      ANNUAL AVERAGE CHANGES, 2003-2004
                                      
Business

     Business sector productivity increased 4.0 percent when the annual
average for 2004 was compared with the annual average for 2003 (table B).
Output increased 5.1 percent and hours of all persons engaged in the sector
rose 1.1 percent.  In 2003, business sector productivity increased 4.5
percent, as output grew 3.8 percent and hours declined 0.6 percent.

------------------------------------------------------------------------------
Table B. Productivity and costs: Revised 2004 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              4.0        5.1      1.1      4.5       1.8       0.5
Nonfarm business      4.0        5.3      1.2      4.4       1.7       0.4
Manufacturing         5.2        4.8     -0.4      4.5       1.8      -0.7
  Durable             6.3        7.0      0.7      3.9       1.2      -2.3
  Nondurable          4.3        2.1     -2.1      5.3       2.6       1.0
------------------------------------------------------------------------------

     Hourly compensation in the business sector increased 4.5 percent in 2004
and 4.1 percent in 2003.  Real hourly compensation increased 1.8 percent in
each of the last two years.

     Business sector unit labor costs increased 0.5 percent in 2004.  In
2003, these costs fell 0.4 percent.  The implicit price deflator rose 1.7
percent in 2004 and 1.3 percent in 2003.

Nonfarm business

     Productivity increased 4.0 percent in the nonfarm business sector during
2004.  Output grew 5.3 percent and hours of all persons increased 1.2 per-
cent.  In 2003, productivity grew 4.4 percent when output grew 3.8 percent
and hours declined 0.5 percent. During 2002, productivity increased 4.3
percent in the nonfarm business sector, as output rose 1.8 percent and hours
of all persons fell 2.5 percent.  Productivity for the 2001-2004 period rose
at an average annual rate of 4.3 percent in nonfarm businesses.  The last
comparable three-year rise occurred over the 1948-1951 period, when
productivity increased at a 4.2 percent annual rate, incorporating rises of
3.3 percent in 1949, 6.6 percent in 1950, and 2.7 percent in 1951.

     Hourly compensation grew 4.4 percent in 2004, following a 4.0-percent
increase in 2003.  Real hourly compensation increased 1.7 percent in both
2003 and 2004.

     Unit labor costs in the nonfarm business sector rose 0.4 percent in
2004, after falling 0.4 percent in 2003.  The implicit price deflator, which
reflects nonlabor payments as well as labor costs, rose 1.6 percent in 2004,
following a 1.1-percent rise in 2003.

Manufacturing

     Manufacturing productivity grew 5.2 percent in 2004, reflecting a 4.8-
percent rise in output and a 0.4-percent decline in hours.  In 2003, output
per hour also increased 5.2 percent, but that productivity gain was due
almost entirely to falling hours, as output was unchanged.  Labor
productivity increased 6.3 percent in durable goods manufacturing during
2004, as output grew 7.0 percent and hours rose 0.7 percent.  In nondurable
goods manufacturing, productivity rose 4.3 percent in 2004, as output rose
2.1 percent and hours fell 2.1 percent (tables B, 3, 4, and 5).

     Hourly compensation of manufacturing workers increased 4.5 percent in
2004, compared to an 8.7-percent increase one year earlier.  Hourly
compensation increased 3.9 percent in durable goods industries and 5.3
percent in nondurable goods industries in 2004.  Real hourly compensation in
the manufacturing sector rose 1.8 percent in 2004, and 6.2 percent in 2003.

     Unit labor costs declined 0.7 percent in manufacturing from 2003 to
2004.  In durable manufacturing, unit labor costs fell 2.3 percent in 2004.
By contrast, unit labor costs in nondurable manufacturing rose last year, by
1.0 percent.


                              REVISED MEASURES
                                      
     Productivity and cost data for the fourth quarter and full year 2004 for
business, nonfarm business, and manufacturing were revised to incorporate the
most recent information. In addition, quarterly and annual measures for these
sectors were revised back to 2000 to incorporate the annual benchmark
adjustment and updated information on seasonal trends from the BLS nonfarm
payroll series (appendix tables 1-5). Third-quarter 2004 measures of hourly
compensation, real hourly compensation, and unit labor costs were revised to
reflect new information on compensation from the National Income and Product
Accounts. Quarterly measures of real hourly compensation during 2004 also
reflect the recalculation of seasonal factors for the Consumer Price Index
for All Urban Consumers (table C).

------------------------------------------------------------------------------     
Table C. Previous and revised productivity and related measures:
Fourth-quarter, third-quarter, and annual averages 2004
(Seasonally adjusted annual rates)
------------------------------------------------------------------------------                                                                   
                                                      Real   
                                             Hourly   hourly      Unit
                  Produc-                    compen-  compen-     labor
Sector            tivity    Output   Hours   sation   sation      costs
------------------------------------------------------------------------------                                                                   
               Percent change, third to fourth quarter 2004
Business:                                                          
  Previous         2.5       3.3      0.8      4.2      0.8        1.7
  Revised          3.7       4.2      0.5      4.5      0.9        0.8
Nonfarm business:                                                  
  Previous         0.8       2.8      1.9      3.1     -0.3        2.3
  Revised          2.1       3.7      1.6      3.4     -0.2        1.3
Manufacturing:                                                     
  Previous         5.6       4.5     -1.0      6.0      2.5        0.4
  Revised          5.8       4.6     -1.1      6.2      2.5        0.4
------------------------------------------------------------------------------  
               Percent change, second to third quarter 2004
Business:                                                          
  Previous         2.4      4.5       2.0      3.8      1.9        1.3
  Revised          2.0      4.5       2.5      5.8      4.1        3.7
Nonfarm business:                                                  
  Previous         1.8      4.2       2.4      3.5      1.6        1.6
  Revised          1.3      4.2       2.8      5.4      3.7        4.0
Manufacturing:                                                     
  Previous         4.2      4.0      -0.1      4.5      2.6        0.3
  Revised          4.4      4.0      -0.3      9.1      7.4        4.6
------------------------------------------------------------------------------  
                        Percent change, 2003 - 2004
                        
Business:                                                          
  Previous         4.0      5.1       1.0      4.3      1.6        0.3
  Revised          4.0      5.1       1.1      4.5      1.8        0.5
Nonfarm business:                                                 
  Previous         4.1      5.3       1.1      4.2      1.5        0.1
  Revised          4.0      5.3       1.2      4.4      1.7        0.4
Manufacturing:                                                     
  Previous         4.9      4.8      -0.1      3.6      0.9       -1.3
  Revised          5.2      4.8      -0.4      4.5      1.8       -0.7
------------------------------------------------------------------------------                                                                   
     
     In fourth-quarter 2004, business sector productivity increased 3.7
percent compared to a preliminary estimate of 2.5 percent (seasonally
adjusted annual rates).  In the nonfarm business sector, productivity grew
2.1 percent, more than the 0.8 percent preliminary estimate published Feb. 3.
Because hourly compensation growth was revised up less than productivity in
business and nonfarm business, unit labor costs did not increase as much as
reported Feb. 3.  In the manufacturing sector, a small upward revision in
output combined with a small downward revision in hours to produce an upward
revision in output per hour from 5.6 percent to 5.8 percent.  A similar
upward revision in hourly compensation left unit labor costs unchanged.
     
     Measures of hourly compensation, real hourly compensation, and unit
labor costs in all sectors show substantially larger increases in the third
quarter of 2004 after incorporation of revised compensation data.
     
     When revised annual averages for 2004 are compared to those for 2003,
productivity increased 4.0 percent in both the business and nonfarm business
sectors--about the same as previously reported.  Small upward revisions to
hourly compensation in both of these sectors led to larger increases in unit
labor costs than previously reported. Manufacturing productivity growth was
revised up as hours declined faster than in the preliminary estimate.
Because hourly compensation was revised up much more than productivity, unit
labor costs decreased less than previously reported.
     
     
Revised measures: Nonfinancial corporations
     
     Measures for the nonfinancial corporate sector also were revised back to
2000 due to updated information on hours worked by employees (appendix table
6).  New information on output and compensation in the third quarter of 2004,
and consumer prices in all quarters of 2004, also impacted measures for this
sector (table 6).

     Productivity in nonfinancial corporations in third-quarter 2004
increased more than in the preliminary estimates, as a large upward revision
to output was partially offset by an upward revision to hours worked. Hourly
compensation was revised up by more than productivity, and unit labor costs
increased, rather than falling slightly, as reported Feb. 3.  Unit profits
were revised down, posting a small decline rather than the slight increase
originally reported.

------------------------------------------------------------------------------
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 2004
                              
Previous     3.9      5.4     1.4    3.8      1.9    -0.1     0.6     0.2
Revised      4.9      6.9     1.9    5.6      3.9     0.6    -0.8     0.2
------------------------------------------------------------------------------     

Upcoming changes to productivity and cost data

    Effective with the release of Productivity and Costs on June 2, 2005,
BLS will improve the way it uses data for farm workers, the nonfarm self
employed, and nonfarm unpaid family workers in the productivity program by
accounting for the effects of multiple jobholding. Current measures treat all
hours worked by individuals whose primary job is in these groups as being on
the primary job. This may overstate the hours of some workers while omitting
the hours of others. The revised measures will be adjusted in two ways.
First, hours worked by these workers in their primary jobs will be used in
each measure.  Secondly, the hours of all persons who hold more than one job
will be examined. Hours worked in secondary jobs by the self-employed, unpaid
family workers, and farm wage and salary workers will be included in the
hours used for the productivity and cost measures. The aggregate effect of
these changes is small.

     
                                      
                                      
                              Next release date
     The next release of Productivity and Costs is scheduled for 8:30 A.M.
EDT, Thursday, May 5, 2005, and will present preliminary first-quarter
measures for business, nonfarm business, and manufacturing.  Fourth-quarter
and annual data 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 years prior to 2001.  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 enter
prises 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.

Output: Business sector output is an annual-weighted index constructed  after
excluding  from  gross domestic product (GDP) the following outputs:  general
government, nonprofit institutions, and private households (including  owner-
occupied  housing). Corresponding exclusions also are made in  labor  inputs.
Business  output accounted for about 78 percent of the value of GDP in  2000.
Nonfarm business, which also excludes farming, accounted for about 77 percent
of GDP in 2000.
   Annual  indexes  for  manufacturing and its durable and  nondurable  goods
components  are  constructed by deflating current-dollar  industry  value  of
production  data from the U.S. Bureau of the Census with deflators  from  the
BEA.   These deflators are based on data from the BLS producer price  program
and  other  sources.   The  industry shipments are  aggregated  using  annual
weights,  and  intrasector transactions are removed.  Quarterly manufacturing
output  measures  are  based on the index of industrial  production  prepared
monthly by the Board of Governors of the Federal Reserve System, adjusted  to
be  consistent with annual indexes of manufacturing sector output prepared by
BLS.   Durables include the following 3-digit NAICS industries: wood  product
manufacturing;  nonmetallic  mineral  product  manufacturing;  primary  metal
manufacturing;  fabricated  metal  product manufacturing;  machinery  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 manufac-
turing;  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  manu-
facturing; 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.
     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

  2002       I    r122.6      142.2     115.9     143.2       115.2      116.7       113.4      115.5
            II     123.2      142.9     116.0    r144.5       115.2      117.2       113.6      115.9
           III    r124.6      144.3    r115.8     145.0       115.0      116.3       115.7      116.1
            IV     125.0      144.7    r115.8    r145.4       114.8      116.3       116.8      116.5

        ANNUAL     123.9      143.5    r115.9     144.5       115.0      116.6       114.9      116.0

  2003       I    r126.3      145.5    r115.2     147.4       115.3      116.8       117.7      117.1
            II     128.6      147.5     114.7     149.6       116.8      116.4       119.0      117.3
           III    r131.1      150.8    r115.0    r151.5      r117.6      115.6       120.8      117.5
            IV    r131.8      152.3    r115.6    r152.9      r118.5      116.0       120.7      117.8

        ANNUAL     129.5      149.0     115.1    r150.4      r117.0      116.2       119.6      117.4

  2004       I    r133.1      154.3    r115.9    r154.0      r118.3      115.7       122.9      118.4
            II    r134.1      155.8    r116.2    r156.0      r118.5      116.4       124.4      119.4
           III    r134.7      157.5    r116.9    r158.2      r119.7     r117.4      r123.5      119.7
            IV    r136.0     r159.1    r117.0    r160.0      r120.0     r117.7      r124.7      120.3

        ANNUAL    r134.6     r156.7    r116.4    r157.2      r119.2     r116.8      r123.9     r119.5

  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  2002       I       5.9        3.5      -2.3       4.9         3.5       -1.0         1.0       -0.3
            II      r1.9        2.1      r0.2      r3.7        r0.2        1.7         1.0        1.4
           III      r4.6        3.8     r-0.8      r1.4       r-0.9       -3.1         7.3        0.7
            IV       1.2        1.2       0.0      r1.2       r-0.7        0.0         3.8        1.4

        ANNUAL       4.3        1.8      -2.4      r3.1         1.5       -1.1         4.5        0.9

  2003       I      r4.1        2.2     r-1.8      r5.8        r1.9        1.6         3.1        2.1
            II       7.6        5.6      -1.9       6.1         5.4       -1.4         4.5        0.8
           III      r8.1        9.3      r1.1      r5.2        r2.7      r-2.7        r6.4        0.7
            IV      r2.1        4.2      r2.0      r3.7        r2.9        1.6       r-0.3        0.8

        ANNUAL       4.5        3.8     r-0.6       4.1         1.8       -0.4         4.1        1.3

  2004       I      r4.0        5.3      r1.2      r2.9       r-0.7       -1.1        r7.3        2.1
            II       2.9        3.9      r0.9      r5.3        r0.8        2.3         5.0        3.3
           III      r2.0        4.5      r2.5      r5.8        r4.1       r3.7       r-2.9        1.1
            IV      r3.7       r4.2      r0.5      r4.5        r0.9       r0.8        r4.2       r2.1

        ANNUAL       4.0        5.1      r1.1      r4.5        r1.8       r0.5        r3.6        1.7

  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  2002       I       4.9        0.8     r-4.0       3.2         1.9       -1.6         6.6        1.2
            II       4.0        1.1      -2.8       3.4         2.1       -0.6         3.5        0.9
           III       4.9        2.8      -2.0      r3.2         1.6       -1.6         5.0        0.8
            IV       3.4        2.7      -0.7       2.8         0.5       -0.6        r3.3        0.8

        ANNUAL       4.3        1.8      -2.4      r3.1         1.5       -1.1         4.5        0.9

  2003       I      r3.0        2.3      -0.6      r3.0         0.1        0.0         3.8        1.4
            II       4.4        3.2      -1.1       3.6         1.4       -0.7         4.7        1.3
           III      r5.2        4.5      -0.7      r4.5        r2.3       -0.6         4.4        1.3
            IV      r5.5        5.3     r-0.2      r5.2        r3.2       -0.3         3.4        1.1

        ANNUAL       4.5        3.8     r-0.6       4.1         1.8       -0.4         4.1        1.3

  2004       I      r5.4        6.1      r0.6      r4.5        r2.6       -0.9         4.4        1.1
            II      r4.3        5.6      r1.3      r4.3        r1.4        0.0        r4.6        1.7
           III      r2.8        4.4      r1.6      r4.4        r1.8       r1.6        r2.2        1.8
            IV      r3.2       r4.5       1.3      r4.6        r1.2       r1.4        r3.3        2.1

        ANNUAL       4.0        5.1      r1.1      r4.5        r1.8       r0.5        r3.6        1.7

  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       March 3, 2005
  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

  2002       I     122.4      142.6     116.5    r142.5       114.7      116.4       115.1      116.0
            II     122.8      143.2    r116.6     143.8       114.7      117.1       115.4      116.5
           III     124.1      144.5     116.4     144.3       114.4      116.2       117.7      116.8
            IV     124.6      145.0     116.4     144.7      r114.2      116.1       118.9      117.2

        ANNUAL     123.5      143.9     116.5     143.8       114.5      116.5       116.8      116.6

  2003       I     125.8      145.9     116.0    r146.7       114.7      116.6       119.6      117.7
            II    r127.9      147.8     115.6     148.7       116.1      116.3       120.4      117.8
           III    r130.5      151.1     115.7    r150.8      r117.0      115.5       122.3      118.0
            IV    r131.5      152.8    r116.2    r152.3      r118.0      115.9       121.9      118.1

        ANNUAL    r128.9      149.4    r115.9    r149.6      r116.4      116.1       121.1      117.9

  2004       I    r132.7      155.0    r116.8    r153.1      r117.6      115.4       124.3      118.7
            II    r134.0      156.5    r116.8    r155.3       118.0      115.9       125.7      119.6
           III    r134.4      158.2    r117.7    r157.4      r119.1     r117.1      r125.2      120.1
            IV    r135.1     r159.6    r118.1    r158.7      r119.0     r117.5      r126.3      120.7

        ANNUAL    r134.1     r157.3    r117.3    r156.3      r118.5     r116.5      r125.4      119.8

  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  2002       I       6.9        4.0      -2.7      r5.4         4.1       -1.4         1.6       -0.3
            II      r1.3        1.7      r0.4      r3.7        r0.2        2.3         1.0        1.8
           III      r4.3        3.6     r-0.6      r1.2       r-1.1       -2.9        r8.1        1.0
            IV      r1.5        1.4     r-0.1       1.2       r-0.7       -0.3         4.2        1.3

        ANNUAL      r4.3        1.8      -2.5      r3.2         1.6       -1.1         4.7        1.0

  2003       I      r4.0        2.4     r-1.5      r5.6        r1.8        1.6        r2.3        1.9
            II       6.7        5.3      -1.4       5.7         5.0       -1.0         2.9        0.5
           III      r8.7        9.3      r0.6      r5.7        r3.2       -2.7         6.3        0.6
            IV      r2.8        4.6      r1.7      r4.1        r3.3        1.2        -1.2        0.3

        ANNUAL       4.4        3.8     r-0.5      r4.0         1.7       -0.4         3.7        1.1

  2004       I      r3.8        5.7      r1.9      r2.1       r-1.5       -1.6         8.0        2.0
            II       3.9        4.2      r0.2       5.9        r1.4        1.9         4.6        2.9
           III      r1.3        4.2      r2.8      r5.4        r3.7       r4.0       r-1.6        1.8
            IV      r2.1       r3.7      r1.6      r3.4       r-0.2       r1.3        r3.6       r2.2

        ANNUAL      r4.0        5.3      r1.2      r4.4        r1.7       r0.4        r3.5        1.6

  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  2002       I       5.1        0.9     r-4.1       3.2         2.0       -1.8         6.7        1.2
            II       4.0        1.0      -2.9       3.5         2.2       -0.5         3.4        0.9
           III      r4.7        2.6     r-2.0      r3.3         1.7       -1.3         5.2        1.0
            IV       3.5        2.7      -0.8       2.9         0.6       -0.6         3.7        1.0

        ANNUAL      r4.3        1.8      -2.5      r3.2         1.6       -1.1         4.7        1.0

  2003       I      r2.8        2.3      -0.5       2.9         0.0        0.1         3.9        1.5
            II       4.1        3.2      -0.9       3.4         1.2       -0.7         4.4        1.2
           III       5.2        4.6     r-0.6      r4.5        r2.3       -0.6         3.9        1.1
            IV      r5.5        5.4     r-0.1      r5.3        r3.3       -0.2        r2.6        0.8

        ANNUAL       4.4        3.8     r-0.5      r4.0         1.7       -0.4         3.7        1.1

  2004       I      r5.5        6.2      r0.7      r4.4        r2.5       -1.0        r4.0        0.8
            II      r4.8        6.0      r1.1      r4.5        r1.6       -0.3         4.4        1.5
           III      r3.0        4.7      r1.7      r4.4        r1.7       r1.4        r2.4        1.8
            IV      r2.8       r4.4       1.6      r4.2        r0.9       r1.4        r3.6        2.2

        ANNUAL      r4.0        5.3      r1.2      r4.4        r1.7       r0.4        r3.5        1.6

  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       March 3, 2005
  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

  2002       I           r144.4        131.1        r90.8        143.8          115.7          99.6
            II           r146.5        132.4         90.4        146.7          117.0         100.2
           III            148.7        133.2        r89.6        148.3          117.6          99.7
            IV           r149.5        132.1        r88.4       r149.4         r117.9          99.9

        ANNUAL            147.3        132.2        r89.8       r147.0         r117.0          99.8

  2003       I            151.6        131.8        r86.9       r155.5          121.6         102.6
            II           r152.9        130.7        r85.5       r158.4         r123.7         103.6
           III           r156.9        132.1        r84.2       r161.6         r125.4         103.0
            IV            158.1        134.2         84.9        163.6         r126.8         103.5

        ANNUAL           r154.8        132.2         85.4       r159.7         r124.3         103.2

  2004       I           r159.3        136.0        r85.4       r162.4         r124.7         101.9
            II           r162.2        138.0        r85.1       r165.1         r125.4         101.8
           III           r164.0        139.4        r85.0       r168.7         r127.6        r102.9
            IV           r166.3       r141.0        r84.8       r171.3         r128.4        r103.0

        ANNUAL           r163.0        138.6        r85.1       r166.9         r126.5        r102.4

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2002       I            r11.2          3.2        r-7.2        r14.6          r13.1           3.0
            II             r5.8          4.1        r-1.6         r8.5           r4.8          r2.6
           III             r6.3          2.4        r-3.7         r4.3           r1.9          -1.9
            IV             r2.2         -3.2        r-5.3         r3.0           r1.1           0.8

        ANNUAL             r7.5         -0.1         -7.1         r6.6            5.0          -0.8

  2003       I             r5.7         -0.9        r-6.3        r17.4          r13.1          11.0
            II             r3.3         -3.4        r-6.5         r7.6           r6.9           4.2
           III            r11.0          4.5        r-5.9         r8.3           r5.8          -2.4
            IV             r3.2          6.6         r3.3         r5.2           r4.4          r1.9

        ANNUAL             r5.2          0.0        r-4.9         r8.7           r6.2           3.3

  2004       I             r3.0          5.4         r2.4        r-3.1          r-6.5          -5.9
            II             r7.6          5.9        r-1.6         r6.9           r2.4          -0.6
           III             r4.4          4.0        r-0.3         r9.1           r7.4          r4.6
            IV             r5.8         r4.6        r-1.1         r6.2            2.5           0.4

        ANNUAL             r5.2          4.8        r-0.4         r4.5           r1.8         r-0.7

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2002       I              7.3         -2.8         -9.4          4.1            2.8          -3.0
            II             r7.8         -0.5        r-7.8         r6.9           r5.5          -0.9
           III              8.6          1.5         -6.6          8.2            6.5          -0.3
            IV              6.3          1.6         -4.5          7.5            5.1           1.1

        ANNUAL             r7.5         -0.1         -7.1         r6.6            5.0          -0.8

  2003       I             r5.0          0.6         -4.2          8.1            5.1           3.0
            II             r4.4         -1.3         -5.4          7.9           r5.7           3.4
           III             r5.5         -0.8        r-6.0         r9.0           r6.6           3.3
            IV             r5.8          1.6        r-3.9         r9.5           r7.5           3.6

        ANNUAL             r5.2          0.0        r-4.9         r8.7           r6.2           3.3

  2004       I             r5.1          3.2        r-1.8         r4.4           r2.5          -0.6
            II             r6.1          5.6        r-0.5         r4.3           r1.4          -1.8
           III             r4.5          5.5         r0.9         r4.4           r1.8         r-0.1
            IV             r5.2          5.0        r-0.2         r4.7           r1.3         r-0.5

        ANNUAL             r5.2          4.8        r-0.4         r4.5           r1.8         r-0.7

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                March 3, 2005
  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

  2002       I            161.8        153.1         94.6        140.8          113.3          87.0
            II           r164.6        155.3        r94.3       r143.9          114.7          87.4
           III            167.7        156.6         93.4        145.0          115.0          86.5
            IV           r170.6        156.3        r91.6       r146.1         r115.3          85.7

        ANNUAL           r166.1        155.3         93.5       r143.9          114.6          86.6

  2003       I           r172.7        155.7        r90.1       r153.5         r120.1          88.9
            II           r174.3        154.3        r88.6       r156.5         r122.2          89.8
           III           r180.9        157.6        r87.1       r159.8         r124.0          88.3
            IV            182.8        161.5         88.3       r161.7          125.3          88.5

        ANNUAL           r177.6        157.3        r88.5       r157.9         r122.9          88.9

  2004       I           r184.4        164.6        r89.3       r159.1         r122.2          86.3
            II           r187.8        167.1        r88.9       r162.1         r123.1          86.3
           III           r190.0        169.5        r89.2       r166.0         r125.5         r87.4
            IV           r193.2       r172.0        r89.0       r168.6         r126.4         r87.3

        ANNUAL           r188.9       r168.3        r89.1       r164.0         r124.3         r86.8

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2002       I            r13.3          4.1        r-8.1         r8.7           r7.3          -4.1
            II             r7.1          6.0        r-1.0         r9.0           r5.3           1.8
           III             r7.7          3.3        r-4.0         r3.2           r0.9          -4.2
            IV             r7.1         -0.7        r-7.2         r3.2           r1.3          -3.6

        ANNUAL              8.6         -0.4         -8.3         r5.5            3.9          -2.8

  2003       I             r5.1         -1.6        r-6.4        r21.8          r17.4          15.9
            II              3.7         -3.4        r-6.9         r8.1           r7.4           4.2
           III            r16.0          8.7         -6.3         r8.6           r6.0          -6.4
            IV             r4.2         10.1         r5.7         r4.9           r4.1           0.6

        ANNUAL             r6.9          1.3        r-5.3         r9.7           r7.2           2.6

  2004       I             r3.6          8.1         r4.3        r-6.2          r-9.5          -9.5
            II             r7.7          6.0        r-1.5         r7.7           r3.1           0.0
           III              4.6          6.0          1.3         r9.9           r8.1          r5.1
            IV             r7.1         r6.0        r-1.0         r6.6           r2.9         r-0.5

        ANNUAL             r6.3         r7.0         r0.7         r3.9           r1.2         r-2.3

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2002       I              7.7         -4.4        -11.2          3.3            2.0          -4.1
            II             r8.5         -1.5        r-9.2          6.0           r4.6          -2.4
           III              9.3          1.4        r-7.2         r6.9            5.2          -2.2
            IV              8.8          3.2        r-5.1          6.0           r3.6          -2.6

        ANNUAL              8.6         -0.4         -8.3         r5.5            3.9          -2.8

  2003       I             r6.7          1.7        r-4.7         r9.0           r6.0           2.2
            II             r5.9         -0.6         -6.1         r8.8            6.5           2.8
           III             r7.9          0.7        r-6.7        r10.2           r7.9           2.2
            IV             r7.2          3.3        r-3.6        r10.7           r8.6           3.3

        ANNUAL             r6.9          1.3        r-5.3         r9.7           r7.2           2.6

  2004       I             r6.8          5.8        r-1.0         r3.7           r1.8          -2.9
            II             r7.8          8.3         r0.4         r3.6           r0.7          -3.9
           III             r5.0          7.6         r2.4         r3.9           r1.2         r-1.1
            IV             r5.7         r6.5         r0.8         r4.3           r0.9         r-1.4

        ANNUAL             r6.3         r7.0         r0.7         r3.9           r1.2         r-2.3

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                March 3, 2005
  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

  2002       I           r126.9        107.9         85.0        147.9          119.0         116.5
            II            128.3        108.4         84.5        150.5          120.1         117.4
           III            129.7        108.7         83.8        152.9          121.3         117.9
            IV           r128.2        106.9        r83.4       r154.1         r121.6         120.2

        ANNUAL           r128.2        108.0         84.2       r151.3          120.5         118.0

  2003       I           r130.2        106.9         82.1        157.7         r123.3         121.1
            II           r131.1        106.0        r80.9       r160.3         r125.2         122.3
           III           r132.6        105.9        r79.8       r163.4         r126.8         123.2
            IV           r133.6        106.5        r79.7       r165.5         r128.2         123.9

        ANNUAL           r131.8        106.3        r80.6       r161.7         r125.8         122.6

  2004       I           r134.5        107.1        r79.6       r166.6         r127.9         123.8
            II           r137.0        108.6        r79.3       r168.8         r128.2         123.2
           III           r138.6        109.0        r78.7       r171.8         r129.9        r123.9
            IV           r139.9       r109.7        r78.4       r174.1         r130.5        r124.4

        ANNUAL           r137.5        108.6        r79.0       r170.3         r129.1        r123.8

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2002       I             r8.2          2.2        r-5.5        r27.1          r25.5         r17.5
            II             r4.4          1.8        r-2.4         r7.4           r3.8           2.9
           III             r4.5          1.1        r-3.2         r6.4           r4.0           1.9
            IV            r-4.5         -6.4        r-2.0         r3.1           r1.2           8.0

        ANNUAL              5.6          0.2        r-5.1         r9.2            7.5           3.4

  2003       I             r6.5          0.1        r-6.0         r9.7           r5.7           3.0
            II             r2.6         -3.5        r-5.9         r6.9           r6.2           4.2
           III             r4.9         -0.6        r-5.2         r8.0           r5.4           2.9
            IV             r2.8          2.4        r-0.4         r5.2           r4.4          r2.3

        ANNUAL             r2.8         -1.5        r-4.2         r6.8           r4.5           3.9

  2004       I             r2.9          2.1        r-0.8         r2.6          r-1.0         r-0.3
            II             r7.5          5.7         -1.7         r5.5           r1.0          -1.9
           III             r4.8          1.7        r-3.0         r7.2           r5.5          r2.3
            IV             r3.9         r2.5        r-1.3         r5.4           r1.8          r1.5

        ANNUAL             r4.3          2.1        r-2.1         r5.3           r2.6          r1.0

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2002       I              5.9         -0.9         -6.4          6.2           r4.9           0.3
            II             r6.2          0.6        r-5.3         r9.1           r7.7           2.7
           III              7.3          1.5         -5.4         10.9            9.2           3.4
            IV              3.0         -0.4         -3.3         10.6            8.2           7.4

        ANNUAL              5.6          0.2        r-5.1         r9.2            7.5           3.4

  2003       I              2.6         -0.9         -3.4          6.6            3.6           3.9
            II             r2.2         -2.2        r-4.3         r6.5            4.2           4.2
           III             r2.3         -2.6        r-4.8         r6.9           r4.6           4.5
            IV             r4.2         -0.4        r-4.4         r7.4           r5.4           3.1

        ANNUAL             r2.8         -1.5        r-4.2         r6.8           r4.5           3.9

  2004       I             r3.3          0.1        r-3.1         r5.7           r3.7          r2.3
            II             r4.5          2.4        r-2.0         r5.3           r2.4           0.7
           III             r4.5          3.0        r-1.5         r5.1           r2.4          r0.6
            IV             r4.8         r3.0        r-1.7         r5.2           r1.8          r0.4

        ANNUAL             r4.3          2.1        r-2.1         r5.3           r2.6          r1.0

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                March 3, 2005
  r=revised                                                       Source: Bureau of Labor Statistics




  Table 6. Nonfinancial corporations: Productivity, hourly compensation, unit labor costs, unit profits,
  and prices, seasonally adjusted
 
                Output                      Hourly    Real                Unit     Total    Unit   Implicit
      Year      per all-                    compen-   hourly     Unit     non-     unit     pro-   price
      and       employee          Employee  sation    compen-    labor    labor    costs    fits   deflator
      quarter   hour      Output  hours      (1)      sation(2)  costs    costs(6) (7)      (8)      (4)
  ----------------------------------------------------------------------------------------------------------
                                             Indexes 1992=100

  2002       I   r126.7    150.2     118.5    139.9    r112.5     110.4    113.6    111.3     88.8    109.3
            II   r128.2    151.7     118.4    141.3     112.7     110.3    112.7    111.0     94.5    109.5
           III    129.0    152.2    r118.0    142.1     112.7     110.1    112.8    110.9     95.8    109.5
            IV    129.6    152.4     117.6   r142.8    r112.7     110.2    112.8    110.9    102.3    110.1

        ANNUAL    128.4    151.6     118.1    141.5     112.7     110.3    113.0    111.0     95.4    109.6

  2003       I   r130.3    152.2     116.8   r144.2     112.7     110.7    114.0    111.6    100.0    110.5
            II    132.7    154.4     116.4   r146.4    r114.3     110.3    112.6    110.9    112.2    111.0
           III   r135.2    157.3    r116.3   r148.4    r115.2     109.8    112.6    110.5    120.3    111.4
            IV   r136.6    159.6    r116.8   r149.8    r116.1     109.7    112.2    110.4    125.1    111.7

        ANNUAL    133.7    155.9    r116.6   r147.2     114.6     110.1    112.9    110.8    114.6    111.2

  2004       I   r136.9    160.9    r117.6   r150.8    r115.7     110.2    111.1    110.4    129.9    112.2
            II   r138.0    162.6    r117.9   r152.8    r116.0     110.7    111.4    110.9    136.3    113.2
           III   r139.6   r165.3    r118.4   r154.9    r117.1    r110.9   r111.3    111.0   r136.0    113.2
  ----------------------------------------------------------------------------------------------------------
                             Percent change from previous quarter at annual rate(5)

  2002       I      7.5      5.4      -2.0      1.7       0.4      -5.4     -7.0     -5.9     91.5     -1.3
            II     r4.6      4.2     r-0.3     r4.2      r0.7      -0.3     -3.1     -1.1     28.2      0.8
           III     r2.6      1.1     r-1.4     r2.0     r-0.3      -0.6      0.3     -0.3      5.8      0.1
            IV      1.9      0.7      -1.2     r2.1      r0.2       0.3      0.0      0.2     29.9      2.3

        ANNUAL      3.9      1.0      -2.8     r3.0       1.4      -0.8      0.3     -0.5     16.0      0.6

  2003       I     r2.2     -0.7     r-2.8     r3.8      r0.1       1.6      4.4      2.4     -8.8      1.4
            II      7.7      6.0      -1.5      6.2       5.5      -1.4     -4.9     -2.4     58.5      1.8
           III     r7.9      7.6     r-0.3     r5.8      r3.3      -1.9      0.1     -1.4     32.3      1.4
            IV     r3.9      6.0      r2.0     r3.8      r3.0      -0.1     -1.5     -0.5     16.8      1.1

        ANNUAL      4.2      2.8      -1.3      4.0       1.7      -0.1     -0.1     -0.1     20.1      1.4

  2004       I     r0.9      3.4      r2.5     r2.5     r-1.1       1.6     -4.0      0.1     16.3      1.6
            II      3.3      4.3      r1.0      5.5      r1.0       2.1      1.3      1.9     21.0      3.8
           III     r4.9     r6.9      r1.9     r5.6      r3.9      r0.6    r-0.5     r0.3    r-0.8      0.2
  ----------------------------------------------------------------------------------------------------------
                          Percent change from corresponding quarter of previous year

  2002       I      3.4     -1.1     r-4.4      3.2       2.0      -0.1      4.0      1.0      1.6      1.0
            II      3.8      0.4      -3.2     r3.3      r2.0      -0.4      1.0      0.0      8.8      0.6
           III      4.3      1.9     r-2.3     r3.0       1.4      -1.2     -1.1     -1.2     21.4      0.3
            IV      4.1      2.8     r-1.2      2.5       0.3      -1.5     -2.5     -1.8     35.5      0.5

        ANNUAL      3.9      1.0      -2.8     r3.0       1.4      -0.8      0.3     -0.5     16.0      0.6

  2003       I     r2.8      1.3      -1.4     r3.1      r0.2       0.3      0.4      0.3     12.6      1.2
            II      3.6      1.8      -1.7     r3.5       1.4       0.0     -0.1      0.0     18.7      1.4
           III      4.9      3.3     r-1.4      4.5       2.3      -0.4     -0.2     -0.3     25.5      1.7
            IV     r5.4      4.7     r-0.7     r4.9      r3.0      -0.5     -0.5     -0.5     22.3      1.4

        ANNUAL      4.2      2.8      -1.3      4.0       1.7      -0.1     -0.1     -0.1     20.1      1.4

  2004       I     r5.0      5.7      r0.7     r4.6      r2.7      -0.5     -2.6     -1.0     29.9      1.5
            II     r4.0      5.3      r1.3     r4.4      r1.5       0.4     -1.0      0.0     21.5      2.0
           III     r3.2     r5.1      r1.8     r4.3      r1.7      r1.1    r-1.2      0.4    r13.0      1.7
  ----------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                        March 3, 2005
  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
-1.4 and +1.4 index points approximately 95 percent of the time.  This
interval is based on the performance of this measure between the fourth
quarter of 1995 and the third quarter of 2004.



                            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 1978-2003 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

  2000       I    114.0      138.6     121.6     132.4       111.5      116.2       105.2      112.1
            II    116.2      141.1    r121.4     133.0      r111.1     r114.5       109.4      112.6
           III    115.9      140.8     121.5     135.6       112.2      117.0       106.2      112.9
            IV    117.1      141.5    r120.9     136.5      r112.1      116.6       107.9      113.3

        ANNUAL    115.9      140.5    r121.2     134.5       111.8      116.1       107.2      112.7

  2001       I   r116.9      141.1     120.7     138.8       113.0      118.7       106.4      114.1
            II   r118.5      141.4     119.4     139.7      r112.9      117.9      r109.8      114.9
           III    118.8      140.3     118.1     140.4       113.2      118.2       110.2      115.2
            IV    120.9      141.0     116.6     141.5       114.2      117.0       113.1      115.6

        ANNUAL    118.8      141.0     118.7     140.1       113.3      118.0       109.9      114.9

  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  2000       I    r-1.3        0.3      r1.6     r14.6       r10.4       16.0       -15.7        3.4
            II     r8.1        7.5      -0.5       1.7       r-1.5       -5.9        17.1        1.8
           III    r-1.1       -0.8      r0.3      r7.9        r4.0        9.1      r-11.1        1.3
            IV     r4.1        2.0     r-2.0      r2.8       r-0.1      r-1.3         6.3        1.4

        ANNUAL      2.9        3.9       1.0       7.1         3.6        4.0        -1.8        1.8

  2001       I     -0.5       -1.1      -0.6       6.8         3.1        7.4        -5.4        2.7
            II     r5.5        0.8     r-4.4      r2.9       r-0.4       -2.5       r13.7        3.0
           III     r1.2       -3.1     r-4.2      r2.0        r1.0        0.8        r1.4        1.0
            IV     r7.1        1.8      -5.0       3.1        r3.6       -3.8        10.9        1.3

        ANNUAL      2.5        0.3      -2.1       4.2         1.3        1.6         2.5        2.0

  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  2000       I      2.2        4.5       2.2      r6.7        r3.4        4.4        -3.0        1.6
            II     r4.0        5.4      r1.3      r6.8         3.4        2.7         0.5        1.9
           III      3.0        3.8       0.8       7.9         4.3        4.8        -3.0        1.9
            IV      2.4        2.2      -0.2      r6.6         3.1        4.1        -1.7        2.0

        ANNUAL      2.9        3.9       1.0       7.1         3.6        4.0        -1.8        1.8

  2001       I      2.6        1.8     r-0.7       4.8        r1.3       r2.1         1.1        1.8
            II     r2.0        0.2      -1.7      r5.1         1.6        3.0         0.4        2.1
           III      2.5       -0.4      -2.8       3.6         0.9        1.0         3.7        2.0
            IV     r3.3       -0.4     r-3.6      r3.7         1.8        0.4         4.8        2.0

        ANNUAL      2.5        0.3      -2.1       4.2         1.3        1.6         2.5        2.0

  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       March 3, 2005
  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

  2000       I    113.7      138.8     122.1     132.1       111.2      116.2       106.6      112.6
            II    115.8      141.4     122.1     132.5      r110.7      114.4       111.0      113.1
           III    115.5      141.1     122.1     135.1       111.8      116.9       107.8      113.5
            IV    116.6      141.8    r121.7    r135.8       111.6      116.5       109.4      113.9

        ANNUAL    115.5      140.8     121.9     134.0       111.4      116.0       108.7      113.3

  2001       I   r116.4      141.4    r121.5     138.1      r112.4      118.6       107.9      114.6
            II    118.1      141.9    r120.1    r139.0      r112.3      117.6       111.6      115.4
           III    118.5      140.8     118.9     139.6       112.5      117.8       111.9      115.6
            IV    120.4      141.2     117.3     140.7       113.5      116.8       114.7      116.0

        ANNUAL    118.3      141.3     119.4     139.3       112.7      117.7       111.5      115.4

  ---------------------------------------------------------------------------------------------------------
                       Percent change from previous quarter at annual rate(5)

  2000       I    r-1.6       -0.1      r1.5     r14.8       r10.6       16.7       -16.8        3.3
            II     r7.5        7.5      r0.0      r1.1       r-2.1       -6.0        17.4        1.8
           III    r-1.0       -0.8      r0.1      r8.0        r4.1        9.1       -11.0        1.4
            IV     r3.6        2.2     r-1.4      r2.3       r-0.6       -1.3         6.3        1.3

        ANNUAL      2.8        3.8       1.0       7.1         3.6        4.2        -1.8        1.9

  2001       I     -0.4       -1.1      -0.7       6.7         3.0        7.2        -5.4        2.6
            II     r5.9        1.2     r-4.4      r2.6       r-0.6       -3.1       r14.3        2.7
           III     r1.2       -2.9     r-4.1      r1.8        r0.9        0.6         0.9        0.7
            IV      6.6        1.2      -5.1       3.1         3.7       -3.3        10.5        1.5

        ANNUAL      2.5        0.4      -2.0       4.0         1.1        1.5         2.6        1.9

  ---------------------------------------------------------------------------------------------------------
                      Percent change from corresponding quarter of previous year

  2000       I      2.2        4.4       2.1       6.9         3.6        4.6        -2.7        1.9
            II     r3.9        5.3       1.4       6.8         3.4       r2.9         0.4        2.0
           III      2.9        3.6       0.8       8.0         4.4        5.0        -3.1        2.0
            IV      2.1        2.1      r0.1       6.4         2.9        4.3       r-1.9        2.0

        ANNUAL      2.8        3.8       1.0       7.1         3.6        4.2        -1.8        1.9

  2001       I      2.4        1.9      -0.5       4.5         1.1        2.1         1.2        1.8
            II      2.0        0.4      -1.6       4.9         1.4        2.8         0.6        2.0
           III      2.6       -0.2      -2.7       3.3        r0.7        0.8         3.8        1.8
            IV      3.3       -0.4      -3.6      r3.6         1.7        0.3         4.8        1.9

        ANNUAL      2.5        0.4      -2.0       4.0         1.1        1.5         2.6        1.9

  ---------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                       March 3, 2005
  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

  2000       I          132.6         138.1        104.1        133.2          112.1         100.5
            II         r134.4         140.0       r104.1       r132.5         r110.7          98.6
           III         r134.0         139.0        103.8       r135.9          112.4         101.4
            IV         r134.9         137.5       r102.0       r136.7         r112.3         101.4

        ANNUAL          134.1         138.6        103.4        134.7          112.0         100.5

  2001       I          134.6         134.9        100.2       r138.1          112.5         102.7
            II         r135.8         133.1        r98.0       r137.3         r110.9         101.1
           III          137.0         131.3         95.8        137.0          110.4         100.0
            IV         r140.6         130.0        r92.5       r139.0         r112.2          98.8

        ANNUAL          136.9         132.3         96.6        137.8          111.5         100.7

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2000       I           r5.6           3.7        r-1.9        r21.8          r17.4          15.3
            II           r5.6           5.6         r0.0        r-2.1          r-5.2          -7.3
           III          r-1.4          -2.8        r-1.4        r10.6           r6.6          12.1
            IV           r2.8          -4.1        r-6.7         r2.4          r-0.4          -0.3

        ANNUAL            4.7           3.0         -1.6         r9.2            5.6           4.2

  2001       I          r-0.9          -7.6        r-6.7         r4.3           r0.6           5.2
            II           r3.8          -5.0        r-8.5        r-2.4          r-5.5          -5.9
           III           r3.5          -5.5        r-8.6        r-0.9          r-1.8          -4.2
            IV          r11.1          -3.7       r-13.3         r5.9           r6.5          -4.6

        ANNUAL            2.1          -4.6         -6.5          2.3          r-0.5           0.2

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2000       I            4.7           3.8         -0.8          9.8            6.4           4.9
            II           r5.6           4.6        r-0.9         r8.5           r5.1           2.8
           III           r5.1           3.3         -1.7         10.0           r6.4           4.7
            IV           r3.1           0.5        r-2.5         r7.8           r4.2           4.6

        ANNUAL            4.7           3.0         -1.6         r9.2            5.6           4.2

  2001       I            1.5          -2.3        r-3.7          3.7           r0.3           2.2
            II            1.0          -4.9        r-5.9          3.6            0.2           2.5
           III            2.3          -5.5        r-7.6         r0.8          r-1.8          -1.4
            IV            4.3          -5.5        r-9.3          1.7           -0.1          -2.5

        ANNUAL            2.1          -4.6         -6.5          2.3          r-0.5           0.2

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                March 3, 2005
  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

  2000       I          149.6         164.9        110.2        133.4          112.3          89.2
            II         r151.4         167.5        110.7       r131.9         r110.1          87.1
           III         r151.0         166.4       r110.2       r135.7         r112.3          89.9
            IV         r151.0         164.1        108.6       r135.4          111.3          89.7

        ANNUAL          150.9         165.7        109.8        134.2          111.6          89.0

  2001       I          150.3         160.1        106.5        136.4         r111.0          90.7
            II         r151.7         157.6       r103.9       r135.8         r109.7          89.5
           III          153.4         154.4        100.7        135.6          109.3          88.4
            IV         r156.8         151.5        r96.6       r137.9         r111.3          87.9

        ANNUAL         r153.0         155.9        101.9        136.4          110.3          89.2

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2000       I           r9.8           7.9        r-1.7        r25.0          r20.5          13.9
            II           r4.9           6.6         r1.6        r-4.5          r-7.6          -9.0
           III          r-1.1          -2.6         -1.6        r12.1            8.1          13.3
            IV           r0.2          -5.4        r-5.6        r-0.7          r-3.5          -0.9

        ANNUAL            5.3           4.6         -0.7         r9.7            6.1           4.2

  2001       I           -2.0          -9.5         -7.6         r2.7          r-0.9           4.8
            II           r3.7          -6.1        r-9.4        r-1.7          r-4.8          -5.2
           III           r4.6          -7.7       r-11.8        r-0.6          r-1.5          -5.0
            IV           r9.2          -7.3       r-15.2         r7.1           r7.7          -2.0

        ANNUAL            1.4          -5.9         -7.2          1.6          r-1.2           0.2

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2000       I            5.9           6.0          0.2         11.2            7.8           5.0
            II            5.9           6.5          0.6          8.9           r5.5           2.8
           III            5.6           4.4        r-1.2        r10.9           r7.2           4.9
            IV            3.4           1.5        r-1.8          7.4           r3.8           3.9

        ANNUAL            5.3           4.6         -0.7         r9.7            6.1           4.2

  2001       I            0.5          -2.9         -3.4         r2.2           -1.1           1.7
            II           r0.2          -5.9         -6.1         r3.0          r-0.4           2.8
           III           r1.6          -7.2         -8.7        r-0.1          r-2.7          -1.7
            IV           r3.8          -7.7        -11.1         r1.8           r0.0          -1.9

        ANNUAL            1.4          -5.9         -7.2          1.6          r-1.2           0.2

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                March 3, 2005
  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

  2000       I          116.7         110.9        r95.0        130.5         r109.9         111.8
            II         r118.7         112.0        r94.4       r131.4         r109.7         110.7
           III          118.0         111.1        r94.1        133.7         r110.7         113.3
            IV         r119.9         110.4        r92.0       r136.6         r112.2         113.9

        ANNUAL          118.5         111.1        r93.7        133.2         r110.8         112.4

  2001       I          119.9         108.9         90.8        139.2          113.4         116.1
            II         r120.8         107.8        r89.2       r138.0         r111.5         114.3
           III          120.9         107.1         88.6       r137.8          111.1         114.0
            IV         r124.4         107.3        r86.3       r139.3         r112.4         111.9

        ANNUAL          121.5         107.8         88.7        138.6          112.1         114.1

  --------------------------------------------------------------------------------------------------
                         Percent change from previous quarter at annual rate(5)

  2000       I          r-0.1          -2.3        r-2.2        r15.4          r11.2         r15.5
            II           r6.8           3.9        r-2.8         r2.7          r-0.5          -3.8
           III          r-2.3          -3.2        r-1.0         r7.4           r3.5          r9.8
            IV           r6.6          -2.5        r-8.5         r8.9           r5.9           2.2

        ANNUAL            4.0           0.7         -3.2          7.8            4.3           3.6

  2001       I          r-0.2          -5.3        r-5.1         r7.8           r4.0           8.0
            II           r3.2          -3.8        r-6.8        r-3.4          r-6.4         r-6.3
           III           r0.3          -2.6        r-2.9        r-0.6          r-1.5         r-0.9
            IV          r12.2           0.8       r-10.1         r4.3           r4.9          -7.1

        ANNUAL            2.5          -3.0        r-5.3          4.0            1.2           1.5

  --------------------------------------------------------------------------------------------------
                     Percent change from corresponding quarter of previous year

  2000       I            3.4           0.8         -2.5          6.7           r3.5           3.2
            II           r5.3           1.7        r-3.5         r7.3           r3.9           1.8
           III           r4.2           1.5         -2.6         r8.2           r4.6           3.8
            IV           r2.7          -1.1        r-3.7         r8.5           r4.9           5.7

        ANNUAL            4.0           0.7         -3.2          7.8            4.3           3.6

  2001       I            2.7          -1.9        r-4.4          6.7            3.2           3.9
            II           r1.8          -3.7         -5.4         r5.1            1.6           3.2
           III           r2.4          -3.6         -5.9          3.1            0.4           0.6
            IV            3.8          -2.7         -6.3         r1.9           r0.1          -1.8

        ANNUAL            2.5          -3.0        r-5.3          4.0            1.2           1.5

  --------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                March 3, 2005
  r=revised                                                       Source: Bureau of Labor Statistics




 Appendix table 6. Nonfinancial corporations:  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

  2000      I    120.5    150.3     124.7    129.7     109.2     107.7    101.9    106.1    114.6    106.9
           II    121.1    151.1     124.8   r130.5     108.9     107.7    103.5    106.6    115.9    107.4
          III    121.9    152.4     125.0    132.9     110.0     109.0    104.8    107.9    107.4    107.8
           IV    122.2    152.3    r124.7    134.4    r110.4     110.0    106.5    109.1     97.0    108.0

       ANNUAL    121.5    151.5     124.7    132.0     109.7     108.6    104.2    107.4    108.7    107.5

  2001      I    122.6    151.9     123.9    135.5    r110.3     110.5    109.2    110.2     87.4    108.1
           II   r123.5    151.1    r122.3   r136.8    r110.5     110.8    111.6    111.0     86.9    108.9
          III    123.7    149.4     120.8    137.9     111.1     111.5    114.1    112.2     79.0    109.2
           IV    124.5    148.2     119.1    139.3    r112.4     111.9    115.7    113.0     75.5    109.6

       ANNUAL    123.5    150.2     121.5    137.3     111.1     111.2    112.6    111.6     82.2    108.9

  ----------------------------------------------------------------------------------------------------------
                             Percent change from previous quarter at annual rate(5)

  2000      I     r7.2      9.5      r2.1    r15.3     r11.1       7.6      1.4      5.9    -25.5      2.3
           II      2.1      2.3       0.2     r2.3      -1.0       0.1      6.6      1.8      4.7      2.1
          III     r2.7      3.4      r0.6     r7.7      r3.8       4.9      5.0      4.9    -26.2      1.5
           IV     r0.8     -0.2     r-0.9     r4.5      r1.6       3.7      6.7      4.5    -33.4      0.6

       ANNUAL      3.6      5.2       1.5      6.8       3.4       3.1      3.8      3.3    -15.8      1.2

  2001      I      1.4     -1.1      -2.4     r3.4      -0.3       1.9     10.5      4.1    -34.1      0.6
           II     r2.9     -2.2     r-4.9     r3.8      r0.6       0.9      9.2      3.1     -2.5      2.7
          III     r0.6     -4.4     r-5.0     r3.3      r2.3       2.6      8.9      4.3    -31.8      1.3
           IV      2.6     -3.0      -5.5     r4.2      r4.8       1.6      5.9      2.8    -16.3      1.4

       ANNUAL      1.7     -0.9      -2.5      4.1      r1.2       2.4      8.1      3.9    -24.3      1.3

  ----------------------------------------------------------------------------------------------------------
                          Percent change from corresponding quarter of previous year

  2000      I      3.4      6.1      r2.6      5.8       2.5       2.3      2.8      2.4    -14.1      0.6
           II     r3.5      5.5       2.0      6.2      r2.9       2.7      3.8      3.0    -13.2      1.1
          III      4.1      5.6       1.4      7.6       4.0       3.3      3.8      3.5    -14.9      1.5
           IV      3.2      3.7       0.5     r7.3       3.8       4.0      4.9      4.3    -21.3      1.6

       ANNUAL      3.6      5.2       1.5      6.8       3.4       3.1      3.8      3.3    -15.8      1.2

  2001      I     r1.7      1.1     r-0.6     r4.4      r1.0       2.6      7.2      3.8    -23.7      1.2
           II      1.9      0.0      -1.9      4.8       1.4       2.8      7.8      4.1    -25.0      1.3
          III      1.4     -2.0      -3.3      3.7       1.0       2.3      8.8      4.0    -26.5      1.3
           IV     r1.9     -2.7     r-4.5      3.7       1.8       1.8      8.6      3.6    -22.2      1.5

       ANNUAL      1.7     -0.9      -2.5      4.1      r1.2       2.4      8.1      3.9    -24.3      1.3

  ----------------------------------------------------------------------------------------------------------
  See footnotes following Table 6.                                        March 3, 2005
  r=revised                                                               Source: Bureau of Labor Statistics