Productivity And Costs — 1998-05-07

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 1998. The seasonally-adjusted annual rates of productivity change in the first quarter were: 0.8 percent in the business sector and 0.2 percent in the nonfarm business sector. These small productivity gains resulted from strong growth in both output and hours of all persons. Output grew at a 5.3 percent annual rate in both sectors. Hours at work increased 4.4 percent in the business sector and 5.0 percent in the nonfarm business sector. First-quarter measures are summarized in table A and appear in detail in tables 1 through 5. 0.5 percent in manufacturing, 0.4 percent in durable goods manufacturing, and 0.6 percent in nondurable goods manufacturing.