Productivity growth in third quarter higher than originally reported
December 04, 2003
Productivity in the nonfarm business sector—as measured by output per hour—increased at a revised seasonally adjusted annual rate of 9.4 percent in the third quarter of 2003.
A preliminary estimate of 8.1 percent had been reported on November 6, based on information available at that time. The upward revision to productivity reflects a much larger upward revision to output than to hours.
Output in the nonfarm business sector grew at an annual rate of 10.3 percent in the third quarter, revised upward from a preliminary estimate of 8.8 percent. The output increase was the largest since the third quarter of 1983, when it rose 11.5 percent.
Hours of all persons were up 0.8 percent, following an initially reported estimate of 0.7 percent (seasonally adjusted annual rates). Hours last increased in the first quarter of 2000, when they rose 1.6 percent.
These data are from the BLS Productivity and Costs program. Data are subject to revision. Additional information is available in "Productivity and Costs, Third Quarter 2003, Revised" (PDF) (TXT), news release USDL 03-815.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Productivity growth in third quarter higher than originally reported on the Internet at http://www.bls.gov/opub/ted/2003/dec/wk1/art04.htm (visited May 05, 2016).
Recent editions of Spotlight on Statistics
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.
- A look at pay at the top, the bottom, and in between
The Spotlight examines how earnings and wages have changed over time and how they differ within a geographic area, industry, or occupation.