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Productivity in the nonfarm business sector, as measured by output per hour, rose at a seasonally adjusted annual rate of 2.7 percent during the third quarter of 2001.
The increase in labor productivity occurred as output declined 1.0 percent and hours of all persons fell 3.6 percent. The decline in hours was the largest since the first quarter of 1991, when hours fell 4.8 percent, and the decline in output was the largest since the first quarter of 1993, when it fell 1.3 percent.
Productivity rose 2.2 percent in the second quarter of 2001, as output declined 0.4 percent and hours decreased 2.5 percent.
These data are a product of the BLS Quarterly Labor Productivityprogram. Data are subject to revision. Additional information is available in "Productivity and Costs, Third Quarter 2001," news release USDL 01-402.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Productivity rises as output and hours fall at https://www.bls.gov/opub/ted/2001/nov/wk1/art04.htm (visited June 05, 2023).