May 08, 2002
Productivity, measured by output per hour, increased at a seasonally adjusted annual rate of 8.6 percent in the nonfarm business sector in the first quarter of 2002. Output increased 6.5 percent and hours of all persons decreased 1.9 percent.
The first-quarter gain was the largest increase in nonfarm business sector output per hour since the second quarter of 1983, when it rose 9.9 percent.
During the fourth quarter of 2001, productivity had increased 5.5 percent (seasonally adjusted annual rate). Output rose 1.5 percent in the fourth quarter and hours fell 3.8 percent.
These data are a product of the BLS Productivity and Costsprogram. Data are subject to revision. Additional information is available in "Productivity and Costs, First Quarter 2002," news release USDL 02-261.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Jump in productivity in first quarter on the Internet at http://www.bls.gov/opub/ted/2002/may/wk1/art03.htm (visited March 05, 2015).
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