Productivity growth in second quarter 2004
August 11, 2004
Productivity increased 2.9 percent in the nonfarm business sector during the second quarter of 2004, as output increased 3.8 percent and hours of all persons rose 0.8 percent (seasonally adjusted annual rates).
[Chart data—TXT]
Output per hour in the nonfarm business sector had grown at a 3.7-percent annual rate in the first quarter of 2004, as output increased 5.7 percent and hours increased 2.0 percent.
Hourly compensation in the nonfarm business sector increased 4.9 percent in the second quarter of 2004, up from the 4.0-percent rise one quarter earlier. When the rise in consumer prices is taken into account, real hourly compensation rose 0.1 percent in the second quarter of 2004 and 0.3 percent in the first quarter.
These data are from the BLS Productivity and Costs program. In this report, productivity is measured by output per hour of all persons. Data are subject to revision. Additional information is available in "Productivity and Costs, Second Quarter 2004" (PDF) (TXT), news release USDL 04-1518.
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