Focus on Economic Data: Productivity - February 6, 2003
Source: Council for Economic Education (EconEdLink) | Type: Lesson
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 in the nonfarm business sector--for the fourth quarter of 2002. The seasonally-adjusted annual rate of productivity growth was a negative .2 percent. For the entire year, the increase in productivity was 4.7 percent. Productivity change in the nonfarm business sector is the most commonly used gauge of productivity.
Grades:
Concepts:
Standards:
Related Resources: