Wednesday, August 12, 2009

[IWS] BLS: [Corrected] Productivity and Costs, Second Quarter 2009, Preliminary [11 August 2009]

IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations
-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor
---------------------- Stuart Basefsky
New York, NY 10016
-------------------------------Director, IWS News Bureau

[Corrected] Productivity and Costs, Second Quarter 2009, Preliminary [11 August 2009]
[full-text, 20 pages]
Supplemental Files Table of Contents

This release was reissued on the afternoon of Tuesday, August 11, 2009, to
correct information on compensation per hour, real compensation per hour,
unit labor costs, and unit non-labor payments in Tables 1 through 5 and
Appendix tables 1 and 2. In the tables, all index levels for these data series
were corrected; as a result, percent changes derived from the corrected index
levels were changed slightly in a few cases.  No other portions of the news
release were affected.

                        PRODUCTIVITY AND COSTS
                   Second Quarter 2009, Preliminary

        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 second quarter of 2009.  The seasonally adjusted
annual rates of productivity change in the second quarter were:

          6.3 percent in the business sector and
          6.4 percent in the nonfarm business sector.

Productivity gains in both sectors were the largest since the third quarter
of 2003, and were due to hours worked declining faster than output.

        In manufacturing, the preliminary productivity changes in the second
quarter were:

        5.3 percent in manufacturing,
        3.9 percent in durable goods manufacturing, and
        2.0 percent in nondurable goods manufacturing.

      The increases in productivity in all manufacturing sectors were the
result of hours falling faster than output.  Output and hours in
manufacturing, which includes about 11 percent of U.S. business-sector
employment, tend to vary more from quarter to quarter than data for the
aggregate business and nonfarm business sectors.  Second-quarter measures
are summarized in table A and appear in detail in tables 1 through 5.

      The data sources and methods used in the preparation of the
manufacturing series differ from those used in preparing the business and
nonfarm business series, and these measures are not directly comparable.
Output measures for business and nonfarm business are based on measures of
gross domestic product prepared by the Bureau of Economic Analysis of the
U.S. Department of Commerce.  Quarterly output measures for manufacturing
reflect indexes of industrial production independently prepared by the
Board of Governors of the Federal Reserve System.  See Technical Notes for
further information on data sources.

Data in this release reflect the comprehensive revision to the National
Income and Product Accounts (NIPA) released by the Bureau of Economic
Analysis of the U.S. Department of Commerce on July 31.  See Revised Measures.

AND MUCH MORE...including TABLES....

This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
Telephone: (607) 255-2703                
Fax: (607) 255-9641                       

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