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Economic News Release
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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)
---------------------------------------------------------------------------------------------------
                      Percent change from previous quarter at annual rate (5)

2024 ANNUAL    2.7 r       2.9        0.2 r      5.1 r      2.1 r      2.3 r      1.7 r      2.1 r

2024 IV        1.5 r       2.4 r      0.8 r      3.8 r      0.7 r      2.2 r      1.3 r      1.8 r
     III       2.9 r       3.6        0.7 r      1.3 r     -0.1 r     -1.5 r      4.4 r      1.1  
     II        2.1         3.0        1.0 r      1.1 r     -1.6 r     -0.9 r      6.4 r      2.3  
     I         1.6 r       1.3       -0.3 r     10.0 r      6.0 r      8.3 r     -4.1 r      2.6  

2023 ANNUAL    1.8 r       2.9        1.0 r      4.1 r      0.0 r      2.2        5.3        3.6  

2023 IV        3.5 r       3.4       -0.1 r      4.7 r      2.0 r      1.2 r      1.3 r      1.3  
     III       4.7 r       5.0        0.3 r      5.8 r      2.3 r      1.0 r      5.4 r      3.0  
     II        3.4 r       2.4       -1.0 r      6.6 r      3.4 r      3.1 r      0.6 r      1.9  
     I         0.7 r       2.5        1.7 r      3.8        0.0 r      3.0 r      5.2 r      4.0  

2022 ANNUAL   -1.5         2.5        4.1        3.5       -4.2        5.1       11.2        7.7  

2022 IV        2.7 r       3.7        0.9 r      0.4       -3.5       -2.2 r     11.1 r      3.5  
     III       0.0 r       2.6        2.6 r      7.4 r      2.0 r      7.4        0.3        4.2  
     II       -3.3 r      -0.3        3.1 r      0.4 r     -8.9 r      3.8 r     19.1 r     10.3  
     I        -4.9 r      -2.0        3.0 r      1.6 r     -7.0 r      6.8 r     12.2 r      9.1  
---------------------------------------------------------------------------------------------------
                    Percent change from corresponding quarter of previous year

2024 ANNUAL    2.7 r       2.9        0.2 r      5.1 r      2.1 r      2.3 r      1.7 r      2.1 r

2024 IV        2.0 r       2.6        0.6 r      4.0 r      1.2 r      2.0 r      2.0 r      2.0 r
     III       2.5 r       2.8        0.3 r      4.2 r      1.5 r      1.7 r      1.9 r      1.8  
     II        3.0 r       3.2        0.2 r      5.4 r      2.1 r      2.3        2.2        2.3  
     I         3.3 r       3.0       -0.3 r      6.8 r      3.4 r      3.4 r      0.7 r      2.2  

2023 ANNUAL    1.8 r       2.9        1.0 r      4.1 r      0.0 r      2.2        5.3        3.6  

2023 IV        3.1 r       3.3        0.2 r      5.2 r      1.9 r      2.1        3.1        2.5  
     III       2.9 r       3.4        0.5 r      4.1 r      0.5 r      1.2        5.5        3.1  
     II        1.7         2.8        1.1        4.5 r      0.5 r      2.8 r      4.2 r      3.4  
     I         0.0         2.1        2.1        3.0       -2.7        2.9 r      8.7 r      5.5  

2022 ANNUAL   -1.5         2.5        4.1        3.5       -4.2        5.1       11.2        7.7  

2022 IV       -1.4         1.0        2.4        2.4       -4.4        3.9 r     10.5        6.8  
     III      -1.4         2.3        3.7        3.8       -4.2        5.2       11.7        8.0  
     II       -1.9 r       2.5        4.5        3.3       -4.9        5.4       12.9        8.6  
     I        -1.1 r       4.4        5.6 r      4.9 r     -3.1        6.0        9.8        7.6  
---------------------------------------------------------------------------------------------------
                                         Indexes 2017=100

2024 ANNUAL  114.8 r     121.1 r    105.5 r    138.2 r    107.7 r    120.4 r    128.8 r    124.1 r

2024 IV      115.7 r     122.4 r    105.8 r    139.5 r    107.7 r    120.6 r    130.3 r    124.8 r
     III     115.2 r     121.7      105.6 r    138.2 r    107.5 r    120.0 r    129.8 r    124.3  
     II      114.4 r     120.6      105.4 r    137.8 r    107.6 r    120.4 r    128.4 r    123.9  
     I       113.8 r     119.7      105.1 r    137.4 r    108.0 r    120.7 r    126.4 r    123.2  

2023 ANNUAL  111.7 r     117.7      105.4 r    131.4 r    105.4 r    117.7 r    126.6 r    121.6  

2023 IV      113.4 r     119.3      105.2 r    134.2 r    106.4 r    118.3 r    127.8 r    122.4  
     III     112.4 r     118.3      105.2 r    132.6 r    105.9 r    118.0 r    127.3 r    122.1  
     II      111.1 r     116.9      105.2 r    130.8 r    105.3 r    117.7 r    125.7 r    121.2  
     I       110.2 r     116.2      105.4 r    128.7 r    104.4 r    116.8 r    125.5 r    120.6  

2022 ANNUAL  109.7 r     114.4      104.3 r    126.3 r    105.4 r    115.1 r    120.2 r    117.3  

2022 IV      110.0 r     115.5      105.0 r    127.5 r    104.4 r    115.9 r    123.9 r    119.4  
     III     109.3 r     114.5      104.7 r    127.4 r    105.3 r    116.6 r    120.7 r    118.4  
     II      109.3 r     113.7      104.1 r    125.1 r    104.8 r    114.5 r    120.6 r    117.2  
     I       110.2 r     113.8      103.3 r    125.0 r    107.3 r    113.4 r    115.5 r    114.3  
---------------------------------------------------------------------------------------------------
See footnotes following Table 6.                                                      March 6, 2025
r=revised                                                        Source: Bureau of Labor Statistics
Last Modified Date: March 06, 2025