Material Is Embargoed — 2002-05-07

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 2002. The seasonally adjusted annual rates of productivity change in the first quarter were: 8.5 percent in the business sector and 8.6 percent in the nonfarm business sector. These large productivity increases resulted from output growth of 6.5 percent in both the business and nonfarm business sectors in combination with declines in hours worked. Hours of all persons decreased 1.8 percent in the business sector and 1.9 percent in the nonfarm business sector. First- quarter measures are summarized in table A and appear in detail in tables 1 through 5. 9.7 percent in manufacturing, 13.3 percent in durable goods manufacturing, and 5.1 percent in nondurable goods manufacturing.