Table 1. Business sector: Labor productivity, hourly compensation, unit labor costs, and prices, seasonally adjusted
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)
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Percent change from previous quarter at annual rate (5)
2024 III 1.7 3.2 1.5 r 2.7 r 1.5 r 1.0 r 1.7 r 1.3 r
II 2.2 3.3 1.0 0.9 r -1.8 r -1.3 r 6.6 r 2.2
I 0.9 1.4 0.5 9.3 5.3 8.4 -4.7 2.2
2023 ANNUAL 1.7 2.9 1.2 3.9 -0.2 2.2 4.9 3.4
2023 IV 3.3 3.4 0.1 4.3 1.5 1.0 0.6 0.8
III 3.7 4.9 1.1 5.1 1.5 1.3 4.6 2.8
II 3.6 2.5 -1.0 6.0 2.9 2.3 0.2 1.3
I 0.2 2.5 2.2 3.8 0.0 3.5 3.8 3.7
2022 ANNUAL -1.4 2.5 3.9 3.7 -4.1 5.2 11.6 8.0
2022 IV 3.2 3.7 0.4 0.8 -3.2 -2.4 11.4 3.6
III -0.1 2.6 2.7 7.2 1.8 7.3 0.7 4.3
II -2.7 -0.4 2.4 1.0 -8.3 3.9 20.1 10.9
I -5.4 -2.1 3.5 1.4 -7.2 7.2 13.0 9.7
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Percent change from corresponding quarter of previous year
2024 III 2.0 2.8 0.8 4.3 r 1.6 r 2.2 r 1.0 r 1.6
II 2.5 3.2 0.7 4.8 r 1.6 r 2.3 r 1.7 r 2.0
I 2.9 3.0 0.2 6.1 2.8 3.2 0.1 1.8
2023 ANNUAL 1.7 2.9 1.2 3.9 -0.2 2.2 4.9 3.4
2023 IV 2.7 3.3 0.6 4.8 1.5 2.0 2.3 2.1
III 2.7 3.4 0.7 3.9 0.3 1.2 4.9 2.9
II 1.7 2.8 1.1 4.4 0.4 2.6 3.9 3.2
I 0.1 2.1 1.9 3.2 -2.5 3.0 8.8 5.6
2022 ANNUAL -1.4 2.5 3.9 3.7 -4.1 5.2 11.6 8.0
2022 IV -1.3 0.9 2.3 2.5 -4.3 3.9 11.1 7.1
III -1.4 2.2 3.6 3.9 -4.1 5.3 11.9 8.2
II -1.8 2.4 4.4 3.5 -4.7 5.5 13.1 8.8
I -1.0 4.4 5.5 5.0 -2.9 6.1 10.3 7.9
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Indexes 2017=100
2024 III 114.6 r 121.5 r 106.0 r 138.2 r 107.5 r 120.6 r 129.0 r 124.3 r
II 114.1 120.6 105.7 137.3 r 107.1 r 120.3 r 128.5 r 123.9
I 113.5 119.6 105.4 137.0 107.6 120.7 126.4 123.2
2023 ANNUAL 111.7 117.6 105.2 131.5 105.5 117.7 127.1 121.8
2023 IV 113.3 119.2 105.3 133.9 106.2 118.3 128.0 122.5
III 112.4 118.2 105.2 132.6 105.8 118.0 127.8 122.3
II 111.3 116.8 104.9 130.9 105.4 117.6 126.3 121.4
I 110.3 116.1 105.2 129.0 104.7 116.9 126.3 121.0
2022 ANNUAL 109.9 114.3 104.0 126.5 105.7 115.2 121.1 117.8
2022 IV 110.3 115.4 104.6 127.8 104.7 115.9 125.1 119.9
III 109.4 114.3 104.5 127.6 105.5 116.6 121.7 118.9
II 109.4 113.6 103.8 125.4 105.1 114.6 121.5 117.6
I 110.2 113.7 103.2 125.1 107.3 113.5 116.1 114.6
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See footnotes following Table 6. December 10, 2024
r=revised Source: Bureau of Labor Statistics
Last Modified Date: December 10, 2024
United States Department of Labor
