8:30 A.M. Est, Wednesday, February 7, 2001 — 2001-02-07

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 fourth quarter and for the full year 2000. The seasonally adjusted annual rates of productivity in the fourth quarter and the annual average changes were: In the fourth quarter, productivity advanced 3.2 percent in the business sector as output rose 1.2 percent and hours worked dropped 2.0 percent (seasonally adjusted annual rates). In the nonfarm business sector, productivity rose 2.4 percent as output increased 1.2 percent and hours fell 1.1 percent. On an annual average basis, productivity in both the business and the nonfarm business sectors rose 4.3 percent in 2000. In the business sector, it was the largest increase since a 4.4-percent increase in 1971; in nonfarm business, the increase was the biggest since a 4.5-percent rise in 1983.