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Table 1. Business sector: Labor productivity, hourly compensation, unit labor costs, and prices, seasonally adjusted. Value- Real added Hourly hourly Unit output Year Labor compen- compen- Unit nonlabor price and produc- Hours sation sation labor payments deflator quarter tivity Output worked (1) (2) costs (3) (4) --------------------------------------------------------------------------------------------------- Percent change from previous quarter at annual rate (5) 2024 I 0.3 1.2 0.9 5.0 1.2 4.7 0.5 2.8 2023 ANNUAL 1.4 2.6 1.2 4.4 0.3 r 2.9 3.6 3.2 2023 IV 3.6 r 3.7 r 0.1 3.7 r 1.0 r 0.1 r 1.9 r 0.9 III 4.4 5.6 1.1 r 4.6 1.1 0.2 6.3 2.8 II 3.1 r 2.0 -1.0 5.5 r 2.4 r 2.4 -0.6 1.1 I -0.1 r 2.1 2.2 r 6.7 r 2.8 r 6.9 r -0.9 3.3 2022 ANNUAL -1.9 1.9 3.9 3.8 -4.0 5.8 10.4 7.8 2022 IV 2.5 r 2.9 0.4 0.4 -3.5 r -2.0 10.9 3.5 III 0.0 2.7 2.7 7.1 r 1.7 r 7.0 0.3 4.0 II -3.6 -1.3 2.4 1.2 -8.1 r 5.0 17.8 10.5 I -6.2 -3.0 3.4 1.8 -6.9 8.5 11.0 9.6 --------------------------------------------------------------------------------------------------- Percent change from corresponding quarter of previous year 2024 I 2.8 3.1 0.3 4.7 1.4 1.8 2.0 1.9 2023 ANNUAL 1.4 2.6 1.2 4.4 0.3 r 2.9 3.6 3.2 2023 IV 2.7 r 3.3 0.6 5.1 1.8 2.3 r 1.6 r 2.0 III 2.4 3.1 0.7 4.3 r 0.7 r 1.8 3.8 2.7 II 1.3 2.4 1.1 4.9 r 0.8 r 3.5 2.3 3.0 I -0.3 r 1.6 1.9 r 3.8 -1.9 4.1 6.8 5.3 2022 ANNUAL -1.9 1.9 3.9 3.8 -4.0 5.8 10.4 7.8 2022 IV -1.9 0.3 2.2 2.6 -4.3 4.5 9.8 6.9 III -1.8 1.7 3.6 4.0 -4.0 6.0 10.6 8.0 II -2.4 1.8 4.3 3.7 -4.5 6.3 11.8 8.6 I -1.4 4.0 5.5 5.1 -2.8 6.7 9.4 7.8 --------------------------------------------------------------------------------------------------- Indexes 2017=100 2024 I 112.0 118.1 105.5 135.9 106.8 121.3 125.1 123.0 2023 ANNUAL 110.3 r 116.0 r 105.2 r 132.1 r 105.9 r 119.7 r 123.6 r 121.4 r 2023 IV 111.9 r 117.8 r 105.2 r 134.3 r 106.5 r 119.9 r 125.0 r 122.1 r III 110.9 r 116.7 105.2 r 133.0 r 106.2 r 119.9 r 124.4 r 121.9 II 109.7 r 115.1 104.9 r 131.5 r 105.9 r 119.9 r 122.5 r 121.0 I 108.9 r 114.6 105.2 r 129.8 r 105.3 r 119.2 r 122.7 r 120.7 2022 ANNUAL 108.7 r 113.1 104.0 r 126.5 r 105.6 r 116.3 r 119.3 r 117.6 2022 IV 109.0 r 114.0 104.6 r 127.7 r 104.6 r 117.2 r 122.9 r 119.7 III 108.3 r 113.2 104.5 r 127.6 r 105.5 r 117.8 r 119.8 r 118.7 II 108.3 r 112.4 103.8 r 125.4 r 105.1 r 115.8 r 119.7 r 117.5 I 109.3 r 112.8 103.2 r 125.1 r 107.3 r 114.4 r 114.9 r 114.6 --------------------------------------------------------------------------------------------------- See footnotes following Table 6. May 2, 2024 r=revised Source: Bureau of Labor Statistics