Productivity in the nonfarm business sector—as measured by output per hour—grew at a 1.9-percent annual rate during the third quarter of 2004. Output grew 4.1 percent and hours worked rose 2.1 percent (seasonally adjusted annual rates).
Nonfarm business productivity increased 3.9 percent in the second quarter of 2004, as output grew 4.2 percent and hours rose by 0.3 percent.
Hourly compensation increased at a 3.6-percent annual rate in the third quarter of 2004. When the rise in consumer prices is taken into account, real hourly compensation rose 1.7 percent during the July-September period. During the second quarter of 2004, real hourly compensation had risen 0.2 percent.
These data are from the BLS Productivity and Costs program. Data are subject to revision. Additional information is available in "Productivity and Costs, Third Quarter 2004," news release USDL 04-2259.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Productivity in third quarter 2004 at https://www.bls.gov/opub/ted/2004/nov/wk1/art05.htm (visited December 05, 2023).