Productivity growth in fourth quarter 2007
March 06, 2008
Productivity in the nonfarm business sector—as measured by output per hour—grew at a revised seasonally adjusted annual rate of 1.9 percent during the fourth quarter of 2007. Productivity growth for the fourth quarter was originally estimated at 1.8 percent.
Output in the nonfarm business sector increased at an annual rate of 0.3 percent in the fourth quarter; the original estimate was 0.4 percent. Hours of all persons engaged in the sector declined 1.6 percent; the original estimate was a 1.5-percent decline.
In the third quarter of 2007, productivity increased 6.3 percent, reflecting a gain of 5.6 percent in output and a decrease of 0.6 percent in hours.
These data are from the BLS Productivity and Costs program. Data in this report are seasonally adjusted annual rates. These estimates are subject to revision. Additional information is available in "Productivity and Costs, Fourth Quarter and Annual Averages, 2007 Revised" (PDF) (HTML), news release USDL 08-0293.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Productivity growth in fourth quarter 2007 on the Internet at http://www.bls.gov/opub/ted/2008/mar/wk1/art04.htm (visited September 25, 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.