Productivity jump for nonfinancial corporations in 2002
May 13, 2003
Productivity in nonfinancial corporations, as measured by output per hour, grew 5.5 percent in year 2002, the largest increase in recent history. This followed an increase of 1.4 percent in the previous year.
The rise in nonfinancial corporate productivity in 2002 was attributable to output growth of 3.2 percent growth and to a fall in hours of 2.2 percent. This was the second consecutive decrease in employee hours.
These data are from the BLS Productivity and Costs program. Data are subject to revision. The nonfinancial corporate output measure is calculated using data on gross domestic product, excluding the following outputs: general government; nonprofit institutions; employees of private households; the rental value of owner-occupied dwellings; unincorporated business; and financial corporations such as depository institutions. Additional information is available in "Productivity and Costs, First Quarter 2003" (PDF) (TXT), news release USDL 03-202.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Productivity jump for nonfinancial corporations in 2002 on the Internet at http://www.bls.gov/opub/ted/2003/may/wk2/art02.htm (visited July 26, 2016).
Recent editions of Spotlight on Statistics
A look at healthcare spending, employment, pay, benefits, and prices
As one of the largest U.S. industries, healthcare is steadily growing to meet the needs of an increasing population with an increasing life expectancy. This Spotlight looks at how much people spend on healthcare, current and projected employment in the industry, employer-provided healthcare benefits, healthcare prices, and pay for workers in healthcare occupations.
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.