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Archived News Release--Caution: information may be out of date.

U.S. DEPARTMENT OF LABOR

Office of Public Affairs

OPA Press Release: Statement Of U.S. Labor Secretary Alexis M. Herman Regarding Productivity And Costs, Second Quarter 2000 (Preliminary} [08/08/2000]

For more information call: 202-693-4650

We are enjoying a splendid combination of strong productivity growth, low unemployment and modest inflation. Productivity growth is the key to our economic prosperity. Its growth continues to lead real wage growth.

Productivity growth in the nonfarm business sector grew at 5.1 percent between the second quarters of 1999 and 2000. This increase exceeds both the 1.4 percent annual average growth from 1973 to 1995 and the annual average growth of 2.5 percent since 1995.

The manufacturing sector showed tremendous productivity growth increasing 6.9 percent between the second quarters of 1999 and 2000.

Archived News Release--Caution: information may be out of date.