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October 1995, Vol. 118, No. 10
Edwin Dean, Michael Harper, and Phyllis Flohr Otto
E conomists in research and public policy have given considerable attention to identifying the sources of long-term productivity growth and the relationship between productivity and wages. Productivity statistics also play an important role in short-run analysis of trends in prices and in the competitiveness of a Nation's exports.
This article discusses methodological improvements to the quarterly productivity series published by the Bureau of Labor Statistics that will improve the accuracy and usefulness of the data and reduce the size of revisions in the future.
Since 1976, BLS has issued eight press releases a year presenting annual and quarterly measures of productivity, hourly compensation, and unit labor costs for business, nonfarm business, manufacturing (durable, nondurable, and total), and nonfinancial corporate sectors in the United States.
This excerpt is from an article published in the October 1995 issue of the Monthly Labor Review. The full text of the article is available in Adobe Acrobat's Portable Document Format (PDF). See How to view a PDF file for more information.
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