Productivity rose at an annual rate of 2.1 percent in the fourth quarter of
2004, much higher than a previous estimate indicated, according to the Bureau
of Labor Statistics of the U.S. Department of Labor.
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customized information for your industry, location, and job.
Get Your Report Now!In an earlier report, the bureau said that productivity 0.8 percent in the
fourth quarter.
The bureau revised productivity figures for the third quarter and the year
downward. In the third quarter, productivity increased 1.3 percent, according
to the revised report. On an annual average basis, productivity rose 4.0 percent
in 2004.
Hourly compensation rose 3.4 percent in the fourth quarter, after increasing
5.4 percent in the third quarter. When the increase in consumer prices was taken
into account, real hourly compensation fell 0.2 percent in the fourth quarter
and rose 3.7 percent in the third quarter.
Unit labor costs rose 1.3 percent in the fourth quarter after increasing 4.0
percent one quarter earlier. The implicit price deflator increased 2.2 percent
in the fourth quarter, and 1.8 percent in the third quarter, of 2004.