Production, Income, and Employment

Figure 1 Stages of Production $5.00 (Notebook Paper) Retailer $3.50 (Notebook Paper) Wholesaler $2.25 (Notebook Paper) Office Supplies Manufacturer $1.50 (Raw Paper) Paper Mill $1.00 (Wood Chips) Lumber Mill

Table 1 GDP: Recent Quarters

Table 2 GDP in 2002: The Expenditure Approach (Billions of Dollars)

Table 3 Value Added at Different Stages of Production

Figure 2 Real GDP Growth Rate, 1960–2003 Real GDP Growth Rate (Percent Change from Previous Period) Actual GDP growth rate GDP growth needed for constant unemployment rate 8 7 6 5 4 3 2 1 -1 GDP growth needed for constant output per capita -2 -3 1960 1965 1970 1975 1980 1985 1990 1995 2000 2003 Year

Table 4 Average Unemployment Rates in Several Countries, 1990–2000 and 2003

Figure 3 U.S. Quarterly Unemployment Rate, 1960–2003

Figure 4 Actual And Potential Real GDP, 1960–2003

Table 5 Unemployment Rates for Various Groups, June 2003

Figure 5 How BLS Measures Employment Status Worked one or more hours for pay? Yes Employed No Yes Temporary layoff? Unemployed No Searched for work? Yes Unemployed No Not in Labor Force

Figure 6 Employment Status of the U.S. Population—June 2003 Under 16 Military or Institutionalized 70 Million Not in Labor Force 73.9 Million Unemployed 9.4 Million Civilian Noninstitutional Population Labor Force Employed 137.7 Million