Research >> Economics
4Q Productivity Growth was -0.4%
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The Bureau of Labor Statistics of the U.S. Department of Labor today reported revised fourth-quarter seasonally-adjusted annual rates of productivity change--as measured by output per hour of all persons--and revised changes for calendar year 2008.
The revised seasonally adjusted annual rates of productivity change in the fourth quarter were -0.4 percent in the business sector and -0.4 percent in the nonfarm business sector and the annual average changes were 2.7 percent in the business sector and 2.8 percent in the nonfarm business sector.
Productivity growth for the fourth quarter of 2008 was revised down by 3.5 percentage points in the business sector and 3.6 percentage points in the nonfarm business sector from the estimates published February 5. In both sectors output was revised down by 3.2 percentage points and hours were revised up by 0.1 percentage point. Productivity growth during calendar year 2008 was not revised in either sector.
Posted: March 5, 2009 Thursday 08:30 AM