May 7, 2002: First Quarter Productivity Up, Labor Costs Down
May 7, 2002
WASHINGTON, DC — The U.S. Department of Labor released first quarter figures on Tuesday showing that the U.S. labor force was at its most productive level since April 1983, while labor costs were substantially lower.
First quarter productivity rose 8.6%, higher than the 7% predicted by Wall Street analysts. Labor costs fell 5.4%, the largest one-quarter drop since the second quarter of 1983.
Publication date: 05/06/2002