Productivity up in second quarter
August 12, 2002
Nonfarm business sector productivity—as measured by output per hour—increased at a seasonally adjusted annual rate of 1.1 percent in the second quarter of 2002. Output edged up 0.5 percent and hours declined 0.7 percent.
In the first quarter of 2002, productivity in the nonfarm business sector grew at annual rate of 8.6 percent, with output increasing 6.2 percent and hours decreasing 2.2 percent. The first quarter’s increase in output per hour was the largest in this sector since the second quarter of 1983, when it increased 9.9 percent.
Hourly compensation in the nonfarm business sector increased 3.6 percent in both the first and second quarters of 2002. Real hourly compensation, which takes into account changes in consumer prices, increased at an annual rate of 0.2 percent in the second quarter of 2002, following an increase of 2.2 percent in the first quarter.
These data are a product of the BLS Productivity and Costs program. Data are subject to revision. Additional information is available in "Productivity and Costs, Second Quarter 2002" (PDF) (TXT), news release USDL 02-469.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Productivity up in second quarter on the Internet at http://www.bls.gov/opub/ted/2002/aug/wk2/art01.htm (visited June 28, 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.