Tuesday, February 7, 1995 — 1995-02-07

The Bureau of Labor Statistics of the U.S. Department of Labor today reported preliminary fourth-quarter seasonally-adjusted annual rates of change in productivityjas measured by output per hour of all personsjand changes for the full year 1994. In the fourth quarter, moderate productivity increases in business and nonfarm business resulted from strong growth in both output and hours worked. Percent changes in business and nonfarm business productivity were: Fourth Annual averages quarter 1993-1994 For the year 1994, productivity improved from 1993 as output in both sectors grew at the highest rates in 10 years. Unit labor costs increased 0.9 percent in 1994 in both sectors, the smallest annual increase since 1964. Fourth-quarter productivity and related measures are summarized in table A and appear in detail in tables 1 through 5. Annual data are summarized in table B.