May 6, 2010
Productivity Up On Increased Output
By Matthew L. Brown
Productivity increased nationwide at a 3.6 percent annual rate during the first quarter, according to the U.S. Bureau of Labor Statistics.
Output rose 4.4 percent and hours worked rising 0.8 percent compared to the fourth quarter.
Compared to the first quarter of 2009, output increased 3.1 percent while hours fell 3 percent, an increase in productivity of 6.3 percent, the largest year-over-year increase since 1962.
Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked for all persons, including employees, proprietors and unpaid family workers.
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