1. Production, Income, and Employment

2. 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

3. Table 1 GDP: Recent Quarters

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

5. Table 3 Value Added at Different Stages of Production

6. 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

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

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

9. Figure 4 Actual And Potential Real GDP, 1960–2003

10. Table 5 Unemployment Rates for Various Groups, June 2003

11. 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

12. 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