Material Is Embargoed — 2001-05-08

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 2001. The seasonally adjusted annual rates of productivity change in the first quarter were: -0.4 percent in the business sector and -0.1 percent in the nonfarm business sector. Although productivity fell slightly in the business and nonfarm business sectors, both output and hours registered increases. In the business sector, output rose 1.8 percent and hours of all persons increased 2.2 percent. Output in nonfarm business rose 1.9 percent, and hours grew 2.0 percent. First-quarter measures are summarized in table A and appear in detail in tables 1 through 5. 0.3 percent in manufacturing, -0.1 percent in durable goods manufacturing, and 0.6 percent in nondurable goods manufacturing.