Productivity down in fourth quarter
February 07, 2003
Nonfarm business sector productivity—as measured by output per hour—fell at a seasonally adjusted annual rate of 0.2 percent in the fourth quarter of 2002.
Output rose by 0.8 percent and hours of all persons increased 1.0 percent in the fourth quarter. Productivity increased 5.5 percent in the third quarter (as revised), when output rose 5.2 percent and hours dropped 0.2 percent.
For the entire year 2002, productivity was up 4.7 percent in nonfarm business. This was the largest increase since 1950, when productivity rose 6.9 percent.
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, Fourth Quarter 2002" (PDF) (TXT), news release USDL 03-45.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Productivity down in fourth quarter on the Internet at http://www.bls.gov/opub/ted/2003/feb/wk1/art05.htm (visited October 31, 2014).
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