Productivity
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Latest Numbers
Labor Productivity and Costs: Major Sectors
NONFARM BUSINESS SECTOR:
Labor productivity (output per hour)
+0.3% in 1st Qtr of 2024
Hourly compensation
+5.0% in 1st Qtr of 2024
Unit labor costs
+4.7% in 1st Qtr of 2024
Real value-added output
+1.3% in 1st Qtr of 2024
Hours worked
+1.0% in 1st Qtr of 2024
MANUFACTURING SECTOR:
Labor productivity (output per hour)
+0.2% in 1st Qtr of 2024
Hourly compensation
+3.4% in 1st Qtr of 2024
Unit labor costs
+3.2% in 1st Qtr of 2024
Real sectoral output
unchanged in 1st Qtr of 2024
Hours worked
-0.2% in 1st Qtr of 2024
Total Factor Productivity
PRIVATE BUSINESS SECTOR:
Total factor productivity
+0.7% in 2023
PRIVATE NONFARM BUSINESS SECTOR:
Total factor productivity
+0.7% in 2023
MANUFACTURING SECTOR:
Total factor productivity
-1.3% in 2022