December 6, 2007
Americans do more work in less time
Output per hour of all American workers increased their output per hour in the third quarter by 6.7 percent in the business sector and 6.3 percent in the nonfarm business sector, according to the U.S. Department of Labor.
The growth in both sectors is greater than preliminary estimates published by the department Nov. 7, and represents the largest productivity gains since the third quarter of 2003. The department said the revisions were the result of increased output, which grew 5.7 percent in both sectors, and a small decrease in hours worked, which fell 1 percent in the business sector and 0.6 percent in the nonfarm business sector.
The growth in both sectors is greater than preliminary estimates published by the department Nov. 7, and represents the largest productivity gains since the third quarter of 2003. The department said the revisions were the result of increased output, which grew 5.7 percent in both sectors, and a small decrease in hours worked, which fell 1 percent in the business sector and 0.6 percent in the nonfarm business sector.
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