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 January 17, 2021).
Recent editions of Spotlight on Statistics
- Occupational Employment and Wages in Metro and Nonmetro Areas
Examines similarities and differences in employment and wages between metro and nonmetro areas.
- Gulf War Era Veterans in the Labor Force
Examines the demographic, employment, and unemployment characteristics of civilians who served in the U.S. military during Gulf War era.
- Using BLS Data to Match People with Disabilities with Jobs Presents data that can help increase access and opportunity for people with disabilities in the nation’s labor market.
- How Women and Aging Affect Trends in Labor Force Growth Examines how women’s labor force participation and the aging of the U.S. population affect trends in labor force growth.