Material Is Embargoed — 2005-03-03

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 annual changes for the full year 2004. Percent changes in business and nonfarm business productivity were: In the fourth quarter, productivity increased 3.7 percent in the business sector, more than the 2.5 percent preliminary estimate published Feb. 3. In nonfarm businesses, productivity grew 2.1 percent, compared to the preliminary estimate of 0.8 percent (seasonally adjusted annual rates). On an annual average basis, productivity rose 4.0 percent in both sectors-- the same as the preliminary estimate for the business sector, and 0.1 percentage point lower than previously reported for nonfarm businesses.