Productivity And Costs — 2007-05-03

The Bureau of Labor Statistics of the U.S. Department of Labor today reported preliminary productivity data--as measured by output per hour of all persons--for the first quarter of 2007. The seasonally adjusted annual rates of productivity change in the first quarter were: 1.3 percent in the business sector and 1.7 percent in the nonfarm business sector. In the business sector, output increased 1.2 percent while hours were unchanged. In nonfarm businesses, output rose 1.4 percent and hours declined 0.3 percent. In both sectors, productivity grew more slowly than in the fourth quarter of 2006, when output per hour rose 1.5 percent in the business sector and 2.1 percent in the nonfarm business sector (seasonally adjusted annual rates). First-quarter measures are summarized in table A and appear in detail in tables 1 through 5. 2.7 percent in manufacturing, 2.7 percent in durable goods manufacturing, and 2.0 percent in nondurable goods manufacturing.