Productivity, as measured by output per hour, fell at a seasonally adjusted annual rate of 1.2 percent in the nonfarm business sector in the first quarter of 2001, according to revised data from BLS.
The drop in productivity reflected a 1.0-percent rise in output and a 2.2-percent increase in hours of all persons. In the fourth quarter of 2000, nonfarm business productivity grew 2.0 percent, as output rose 0.8 percent and hours decreased 1.3 percent.
Output per hour in the nonfarm business sector was originally reported as declining at an annual rate of 0.1 percent in the first quarter of 2001. The revision largely reflects a smaller estimate of output and, to a lesser degree, a higher estimate for hours.
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 2001 (revised)," news release USDL 01-163.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Productivity down in first quarter at https://www.bls.gov/opub/ted/2001/june/wk1/art03.htm (visited September 24, 2023).