Table 2. Nonfarm business sector: Labor productivity, hourly compensation, unit labor costs, and prices, seasonally adjusted
Table 2. Nonfarm 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 2.2 3.5 1.2 4.2 3.0 1.9 -0.4 0.9
II 2.1 r 3.0 r 0.9 r 4.6 r 1.7 r 2.4 r 2.2 r 2.3 r
I 0.7 r 1.3 r 0.6 9.3 r 5.3 r 8.5 r -4.3 r 2.6 r
2023 ANNUAL 1.6 r 2.9 r 1.2 3.9 r -0.2 r 2.2 r 5.3 r 3.6 r
2023 IV 3.1 r 3.4 r 0.2 4.1 r 1.4 r 0.9 r 1.7 r 1.3 r
III 3.8 r 5.0 r 1.1 5.1 r 1.6 r 1.2 r 5.2 r 3.0
II 3.7 r 2.4 r -1.3 6.4 r 3.3 r 2.6 r 1.1 r 1.9 r
I 0.3 r 2.5 r 2.1 3.8 r 0.1 r 3.5 r 4.5 r 4.0 r
2022 ANNUAL -1.5 r 2.5 r 4.1 r 3.5 r -4.2 r 5.1 r 11.2 r 7.7 r
2022 IV 2.9 r 3.7 r 0.8 0.4 r -3.5 r -2.4 r 11.4 r 3.5
III -0.2 r 2.6 r 2.8 7.2 r 1.8 r 7.4 r 0.3 r 4.2 r
II -3.0 r -0.3 r 2.7 0.7 r -8.6 r 3.7 r 19.2 r 10.3 r
I -5.0 r -2.0 r 3.2 r 1.5 r -7.1 r 6.9 r 12.1 r 9.1 r
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Percent change from corresponding quarter of previous year
2024 III 2.0 2.8 0.7 5.5 2.8 3.4 -0.3 1.7
II 2.4 r 3.2 r 0.7 5.7 r 2.5 r 3.2 r 1.1 r 2.3
I 2.8 r 3.0 r 0.2 6.2 r 2.9 r 3.3 r 0.9 r 2.2 r
2023 ANNUAL 1.6 r 2.9 r 1.2 3.9 r -0.2 r 2.2 r 5.3 r 3.6 r
2023 IV 2.7 3.3 0.6 4.8 r 1.6 r 2.1 r 3.1 r 2.5 r
III 2.7 r 3.4 r 0.7 3.9 r 0.3 r 1.2 r 5.5 r 3.1 r
II 1.7 r 2.8 r 1.1 4.4 r 0.4 r 2.7 r 4.3 r 3.4 r
I 0.0 r 2.1 r 2.1 3.0 r -2.7 r 3.0 r 8.6 r 5.5 r
2022 ANNUAL -1.5 r 2.5 r 4.1 r 3.5 r -4.2 r 5.1 r 11.2 r 7.7 r
2022 IV -1.4 r 1.0 r 2.4 r 2.4 r -4.4 3.8 r 10.5 r 6.8 r
III -1.4 r 2.3 r 3.7 3.8 r -4.2 r 5.2 r 11.7 r 8.0 r
II -2.0 r 2.5 r 4.5 3.3 r -4.9 r 5.4 r 12.9 r 8.6 r
I -1.2 r 4.4 r 5.7 r 4.8 r -3.1 r 6.0 r 9.8 r 7.6 r
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Indexes 2017=100
2024 III 114.5 121.6 106.3 139.6 108.6 122.0 127.0 124.2
II 113.8 r 120.6 r 105.9 r 138.2 r 107.8 r 121.4 r 127.2 r 123.9 r
I 113.3 r 119.7 r 105.7 r 136.7 r 107.4 r 120.7 r 126.5 r 123.2 r
2023 ANNUAL 111.5 r 117.7 r 105.5 r 131.3 r 105.3 r 117.7 r 126.6 r 121.6 r
2023 IV 113.1 r 119.3 r 105.5 r 133.7 r 106.0 r 118.2 r 127.9 r 122.4 r
III 112.2 r 118.3 r 105.5 r 132.3 r 105.7 r 118.0 r 127.4 r 122.1 r
II 111.1 r 116.9 r 105.2 r 130.7 r 105.3 r 117.6 r 125.8 r 121.2 r
I 110.1 r 116.2 r 105.5 r 128.7 r 104.4 r 116.9 r 125.4 r 120.6 r
2022 ANNUAL 109.7 r 114.4 r 104.2 r 126.3 r 105.5 r 115.1 r 120.2 r 117.3 r
2022 IV 110.0 r 115.5 r 105.0 r 127.5 r 104.4 r 115.9 r 124.0 r 119.4 r
III 109.3 r 114.5 r 104.7 r 127.4 r 105.3 r 116.6 r 120.7 r 118.4 r
II 109.3 r 113.7 r 104.0 r 125.2 r 104.9 r 114.5 r 120.6 r 117.2 r
I 110.1 r 113.8 r 103.3 r 125.0 r 107.3 r 113.5 r 115.4 r 114.3 r
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See footnotes following Table 6. November 7, 2024
r=revised Source: Bureau of Labor Statistics
Last Modified Date: November 07, 2024
United States Department of Labor
