Research >> Economics
1Q Productivity Growth was 1.6%
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The Bureau of Labor Statistics of the U.S. Department of Labor today reported revised productivity data--as measured by output per hour of all persons--for the first quarter of 2009. The revised seasonally adjusted annual rates of productivity change in the first quarter were: 1.8 percent in the business sector and 1.6 percent in the nonfarm business sector.
In both sectors, the first-quarter productivity gains were greater than the preliminary estimates reported on May 7, due solely to revisions to output growth. In manufacturing, the revised productivity changes in the first quarter were: -2.7 percent in manufacturing, -10.4 percent in durable goods manufacturing, and 1.9 percent in nondurable goods manufacturing.
Manufacturing productivity in the first quarter of 2009 fell at a slower rate than was reported on May 7. Output and hours in manufacturing, which includes about 11 percent of U.S. business-sector employment, tend to vary more from quarter to quarter than data for the aggregate business and nonfarm business sectors.
Posted: June 4, 2009 Thursday 08:30 AM