Productivity growth in first quarter 2008 revised upward
June 05, 2008
During the first quarter of 2008, productivity--as measured by output per hour--rose at a revised seasonally adjusted annual rate of 2.6 percent in the nonfarm business sector. Productivity growth for the first quarter was originally estimated at 2.2 percent.
[Chart data—TXT]
Output in the nonfarm business sector increased at an annual rate of 0.7 percent in the first quarter; the original estimate was 0.4 percent. Hours of all persons engaged in the sector declined 1.8 percent; the original estimate was also a 1.8-percent decline.
In the fourth quarter of 2007, productivity increased 1.8 percent, reflecting a gain of 0.2 percent in output and a decrease of 1.6 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, First Quarter 2008, Revised," news release USDL 08-0756.
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