Productivity growth in third quarter 2008
November 07, 2008
During the third quarter of 2008, productivity—as measured by output per hour—increased at a revised seasonally adjusted annual rate of 1.1 percent in the nonfarm business sector. Output and hours fell 1.7 percent and 2.7 percent, respectively.
[Chart data—TXT]
The decline in output was the largest since third-quarter 2001. The drop in hours was the largest since the first quarter of 2002.
Over the last four quarters, nonfarm business output per hour increased 2.0 percent; output rose 0.3 percent, and hours fell 1.7 percent. From 2000 to 2007, nonfarm productivity increased at a 2.5-percent average annual rate, as output grew 2.5 percent and hours edged up 0.1 percent on average.
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 2008, Preliminary," (PDF) (HTML) news release USDL 08-1616.
OF INTEREST
Recent editions of Spotlight on Statistics
- Fatal Injuries to Foreign-Born Hispanic or Latino Workers
Explores the industries, occupations, and events related to these fatalities.
- For-Profit, Nonprofit, and Government Sector Jobs in 2022
Compares the labor force characteristics and experiences of workers in the for-profit, nonprofit, government, and self-employed sectors.
- Union Membership, Activity, and Compensation in 2022
Focuses on trends in union membership, work stoppages, and pay and benefits among union members.
- A Look at a Neat Industry: Distilleries
Examines trends in employment, establishments, wages, and consumer prices for distilleries.
- Healthcare Occupations: Characteristics of the Employed
Compares the demographic characteristics of workers in healthcare occupations.
United States Department of Labor
