Visit the Bureau of Labor Statistics Web site, https://www.bls.gov/ In sequence,

Question

Visit the Bureau of Labor Statistics Web site, https://www.bls.gov/

In sequence, select: "Subjects," "Productivity," "Labor, Productivity and Costs," "LPC Databases," and then In the table find the row"Major Sector Productivity and Costs" select the "Top Picks," to find Major Sector Productivity and Costs.

Check the box for the first row: Business - Labor Productivity..., then click on "Retrieve Data." Report the percent change from the previous quarter at annualized rates from the table for the most recent six quarters. Is the average of those rates higher or lower than the 1.4 percent average annual growth rate of productivity during the 1973–1995 period?

Explanation / Answer

The percent change from the previous quarter at annualized rates from the table for the most recent six quarters i.e. Q1 2018 and Q4 2017 are 0.7% (revised) and -0.4% respectively.

The average of the two percents is = (0.7 -0.4) / 2 = 0.15 %

This is evidently lesser than 1.4 percent average annual growth rate of productivity during the 1973–1995 period.

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