Focus on Economic Data: Productivity - November 7, 2002
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--for the third quarter of 2002. The seasonally-adjusted annual rate of productivity growth in the third quarter was 4.0 percent. This figure measures changes in what is described by the Bureau of Labor Statistics as the nonfarm business sector and is the most commonly used measure of changes in productivity.
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