Nonfarm business unit labor costs up again
May 09, 2001
Unit labor costs rose 5.2 percent in the first quarter, after rising 4.5 percent in the fourth quarter of 2000. The first quarter increase was the largest since the fourth quarter of 1997.
Hourly compensation increased at a 5.2 percent annual rate in the first quarter of 2001. When the rise in consumer prices was taken into account, real hourly compensation rose 1.0 percent.
Productivity declined 0.1 percent in the nonfarm business sector in the first quarter, as output increased 1.9 percent and hours of all persons rose 2.0 percent. During the fourth quarter of 2000, productivity had increased 2.0 percent in this sector.
These data are a product of the BLS Quarterly Labor Productivityprogram. Data are subject to revision. Additional information is available in "Productivity and Costs, First-Quarter and Annual Averages for 2001, Preliminary" news release USDL 01-132.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Nonfarm business unit labor costs up again on the Internet at https://www.bls.gov/opub/ted/2001/may/wk1/art03.htm (visited October 23, 2020).
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