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Archived News Release--Caution:
information may be out of date.
For more information call: 202-693-4650
Once again, American workers show their economic muscle.
Third quarter productivity grew at a spectacular annual rate of 3.8 percent,
boosting the growth of GDP and holding down price inflation. Increasing worker
productivity keeps our economy in balance allowing hourly compensation to rise
while keeping our prosperity strong and stable.
In the third quarter, productivity growth in the nonfarm
business sector grew at an annual rate of 3.8 percent, compared to a 3.2
percent increase in real hourly compensation.
Productivity growth in the nonfarm business sector grew at
5.0 percent during the past four quarters, exceeding the annual average growth
of 2.5 percent since 1995. Real hourly compensation grew at 1.6 percent during
the past four quarters, continuing its steady increases of 1.5 and 1.4 percent
in the first and second quarters of this year.
The manufacturing sector showed tremendous productivity
growth increasing 7.5 percent between the third quarters of 1999 and 2000.
Archived News Release--Caution:
information may be out of date.
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