Another rise in productivity
November 08, 2002
Nonfarm business sector productivity—as measured by output per hour—increased at a seasonally adjusted annual rate of 4.0 percent in the third quarter of 2002.
Output rose by 4.1 percent and hours of all persons edged up by 0.1 percent in the third quarter. The small rise in hours reflects a 0.6-percent increase in employment combined with a 0.5-percent decline in average weekly hours at work.
Hourly compensation increased at a 4.8-percent annual rate in the third quarter of 2002. When the rise in consumer prices is taken into account, real hourly compensation rose at a 2.9-percent annual rate during the July-September period.
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, Third Quarter 2002" (PDF) (TXT), news release USDL 02-624.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Another rise in productivity on the Internet at http://www.bls.gov/opub/ted/2002/nov/wk1/art05.htm (visited March 27, 2015).
Three recent editions of Spotlight on Statistics
Trends in long-term unemployment
Long-term unemployment reached historically high levels following the recession of 2007–2009.
Housing: before, during, and after the Great Recession
looks at consumer expenditures on household items, employment in residential construction, prices for household items, and injuries in occupations involved in building and maintaining our homes.
Women veterans in the labor force examines the demographic, employment, and unemployment characteristics of women veterans.