State:
Free Special Resources
Get Your FREE Special Report. Download Any One Of These FREE Special Resources, Instantly!
Featured Special Report
Claim Your Free Cost Per Hire Calculator
This handy calculator lets you plug in your expenses for recruiting, benefits, salaries, and more.

Graphs automatically generate to show you your annual cost per hire and a breakdown of where you are spending the most money.

Download Now!
June 01, 2006
Productivity Better than First Thought

For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!

Productivity grew at an annual rate of 3.7 percent in the first quarter, according to a revised report by the Bureau of Labor Statistics of the U.S. Department of Labor.

In a preliminary report in May, the bureau reported that productivity increased at an annual rate of 3.2 percent.

Productivity rose 3.7 percent during the first quarter of 2006, as output increased 6.5 percent and hours of all persons increased 2.7 percent. The hours increase was larger than during any quarter in 2005.

In the fourth quarter of 2005, productivity had declined 0.3 percent, the first dip in productivity since the first quarter of 2001.

In the first quarter of 2006, hourly compensation increased 5.3 percent. After revision, this measure decreased at a 0.9 percent annual rate in the fourth quarter of 2005--the first decline in hourly compensation since 1994, when it fell 0.8 percent in the second quarter and 0.3 percent in the third quarter.

When the rise in consumer prices is taken into account, real hourly compensation rose 3.2 in the first quarter of 2006 and fell 4.1 percent in the fourth quarter of 2005.

Unit labor costs grew 1.6 percent during the first quarter of 2006, following a 0.6-percent decline in the fourth quarter of 2005, as revised.

Featured Free Resource:
Cost Per Hire Calculator
   
   
 
 
Twitter  Facebook  Linked In
Follow Us
CT-WEB02
Copyright © 2016 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on http://Compensation.BLR.com
Document URL: http://compensation.blr.com/Compensation-news/HR-Administration/Employment-Statistics/Productivity-Better-than-First-Thought/