Productivity growth in third quarter revised upward
December 06, 2007
Productivity in the nonfarm business sector—as measured by output per hour—grew at a revised seasonally adjusted annual rate of 6.3 percent during the third quarter of 2007. Productivity growth for the third quarter was originally estimated at 4.9 percent.
Output in the nonfarm business sector increased at an annual rate of 5.7 percent in the third quarter; the original estimate was 4.3 percent. Hours of all persons engaged in the sector declined 0.6 percent; the original estimate was a 0.5-percent decline.
The productivity gain in the third quarter of 2007 was the largest since a 10.4-percent increase in the third quarter of 2003, and the growth in hours was the lowest since the second quarter of 2003 when hours fell 1.3 percent.
In the second quarter of 2007, productivity increased 2.2 percent, reflecting gains of 4.2 percent in output and 2.0 percent in hours.
These data are from the BLS Productivity and Costs program. Data in this report are seasonally adjusted annual rates. These estimates are subject to revision. Additional information is available in "Productivity and Costs, Third Quarter 2007, Revised" (PDF) (TXT), news release USDL 07-1848.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Productivity growth in third quarter revised upward on the Internet at https://www.bls.gov/opub/ted/2007/dec/wk1/art04.htm (visited February 20, 2017).
Recent editions of Spotlight on Statistics
STEM occupations: past, present, and future
A look at employment and wages in science, technology, engineering, and mathematics occupations.
Workplace injuries and illnesses and employer costs for workers’ compensation
Workplace injury and illness data and the costs to employers for workers’ compensation in natural resources, construction, and maintenance occupations.
A look at the future of the U.S. labor force to 2060
Projected long-term trends in the growth, size, and composition of the labor force.
Union membership in the United States
Historical trends in union membership among employed wage and salary workers; union membership by a variety of demographic characteristics.