“Thanks to hard working Americans and the President’s strong leadership, business is booming and more people are working than ever before. Today’s strong productivity report is more proof that our economy continues to exceed expectations and is expected to translate into higher wages and a better quality of life, which is good news for American workers.
“In order to keep this momentum going, the Bush administration will continue to promote pro-growth policies for an even stronger, more vibrant economy that enables businesses to invest and hire new employees and allows workers to keep more of the money they earn.” NOTE: The Labor Department today reported that nonfarm productivity increased to a revised 4.7 percent in the third quarter. Productivity is a measure of economic efficiency that shows how effectively economic inputs are converted into output.
Source: U.S. Department of Commerce
