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Archived News Release--Caution: information may be out of date.

U.S. DEPARTMENT OF LABOR

OPA Press Release: Statement of US Labor Secretary Alexis M. Herman Regarding Productivity and Costs, First Quarter 2000 (Preliminary) [05/04/2000]

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Productivity growth in the nonfarm business sector grew at 3.7 percent between the first quarters of 1999 and 2000. This increase is identical to productivity growth's increase between the fourth quarters of 1998 and 1999.

The 3.7 percent increase exceeds both the 1.3 percent annual average growth from 1973 to 1995 and the annual average growth of 2.5 percent from 1995 to 1999.

Since the first quarter of 1999, productivity in the nonfarm business sector grew at an annual rate of 2.4 percent, also above the 1.3 percent average growth registered from 1973 to 1995.

Productivity growth remains strong in the manufacturing sector, increasing at 6.8 percent between the first quarters of 1999 and 2000. Growth between the fourth quarters of 1998 and 1999 was 6.5 percent.

Archived News Release--Caution: information may be out of date.