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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 II 2.2 r 3.4 r 1.1 2.9 r 0.0 r 0.6 r 3.8 r 2.0 r I 0.5 1.1 0.5 4.3 0.5 3.7 1.5 2.7 2023 ANNUAL 1.4 2.6 1.2 4.2 0.1 2.7 3.8 3.2 2023 IV 3.6 3.7 0.1 0.8 -1.8 -2.7 5.5 0.9 III 4.4 5.6 1.1 4.6 1.1 0.2 6.3 2.8 II 3.1 2.0 -1.0 5.5 2.4 2.4 -0.6 1.1 I -0.1 2.1 2.2 6.7 2.8 6.9 -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 2.9 0.4 0.4 -3.5 -2.0 10.9 3.5 III 0.0 2.7 2.7 7.1 1.7 7.0 0.3 4.0 II -3.6 -1.3 2.4 1.2 -8.1 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 II 2.7 r 3.4 0.7 3.1 r -0.1 r 0.4 r 4.3 r 2.1 I 2.9 3.1 0.2 3.8 0.5 0.9 3.1 1.9 2023 ANNUAL 1.4 2.6 1.2 4.2 0.1 2.7 3.8 3.2 2023 IV 2.7 3.3 0.6 4.4 1.1 1.6 2.5 2.0 III 2.4 3.1 0.7 4.3 0.7 1.8 3.8 2.7 II 1.3 2.4 1.1 4.9 0.8 3.5 2.3 3.0 I -0.3 1.6 1.9 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 II 112.7 r 119.1 r 105.6 r 135.7 r 105.9 r 120.4 r 127.7 r 123.6 r I 112.1 118.1 105.4 134.7 105.9 120.2 126.5 122.9 2023 ANNUAL 110.3 116.0 105.2 131.8 105.7 119.5 123.9 121.4 2023 IV 111.9 117.8 105.2 133.3 105.7 119.1 126.0 122.1 III 110.9 116.7 105.2 133.0 106.2 119.9 124.4 121.9 II 109.7 115.1 104.9 131.5 105.9 119.9 122.5 121.0 I 108.9 114.6 105.2 129.8 105.3 119.2 122.7 120.7 2022 ANNUAL 108.7 113.1 104.0 126.5 105.6 116.3 119.3 117.6 2022 IV 109.0 114.0 104.6 127.7 104.6 117.2 122.9 119.7 III 108.3 113.2 104.5 127.6 105.5 117.8 119.8 118.7 II 108.3 112.4 103.8 125.4 105.1 115.8 119.7 117.5 I 109.3 112.8 103.2 125.1 107.3 114.4 114.9 114.6 --------------------------------------------------------------------------------------------------- See footnotes following Table 6. September 5, 2024 r=revised Source: Bureau of Labor Statistics