Downward revision in second-quarter productivity growth
September 06, 2001
Productivity in the nonfarm business sector, as measured by output per hour, increased at a revised seasonally adjusted annual rate of 2.1 percent in the second quarter of 2001. A preliminary growth rate of 2.5 percent had been reported last month, based on information available at that time.
Both output and hours movements were revised downward. Output declined 0.5 percent—this was the first drop in output since the first quarter of 1993. The percent change in output earlier reported for the second quarter of 2001 (based on more limited information) was 0.1 percent.
Based on the latest information, hours in the nonfarm business sector decreased 2.6 percent in the second quarter of 2001. The drop in hours was the largest since the first quarter of 1991. The percent change in hours earlier reported for the second quarter of 2001 was –2.4 percent.
These data are a product of the BLS Quarterly Labor Productivityprogram. Data are subject to revision. Additional information is available in "Productivity and Costs, Second Quarter 2001 (revised)," news release USDL 01-292.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Downward revision in second-quarter productivity growth on the Internet at http://www.bls.gov/opub/ted/2001/sept/wk1/art03.htm (visited May 30, 2016).
Recent editions of Spotlight on Statistics
Employment and Wages in Healthcare Occupations
Healthcare occupations are a significant percentage of U.S. employment. Some of the largest and highest paying occupations are in healthcare. This Spotlight examines employment and wages for healthcare occupations.
Fifty years of looking at changes in peoples lives
Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.
- A look at pay at the top, the bottom, and in between
The Spotlight examines how earnings and wages have changed over time and how they differ within a geographic area, industry, or occupation.