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Nonfarm business labor productivity up 4.7 percent in third quarter 2023

November 20, 2023

Nonfarm business labor productivity increased 4.7 percent in the third quarter of 2023, as output increased 5.9 percent and hours worked increased 1.1 percent. The productivity gain was the highest rate since a 5.7-percent increase in the third quarter of 2020.

Labor productivity, output, and hours worked, percent change from previous quarter, first quarter 2013–third quarter 2023
Quarter Labor productivity
(output per hour)
   Output    Hours worked

Q1 2013

2.8 4.7 1.9

Q2 2013

-1.1 0.6 1.8

Q3 2013

2.3 4.5 2.2

Q4 2013

3.8 5.1 1.2

Q1 2014

-3.8 -1.8 2.1

Q2 2014

3.6 7.0 3.3

Q3 2014

3.6 6.8 3.1

Q4 2014

-1.9 2.7 4.7

Q1 2015

3.1 4.4 1.3

Q2 2015

1.4 3.1 1.7

Q3 2015

1.5 1.6 0.1

Q4 2015

-2.2 0.4 2.7

Q1 2016

1.1 2.8 1.7

Q2 2016

0.0 1.3 1.3

Q3 2016

2.2 3.4 1.2

Q4 2016

2.6 3.1 0.5

Q1 2017

0.5 2.1 1.6

Q2 2017

-0.2 2.8 2.9

Q3 2017

3.8 4.2 0.4

Q4 2017

2.3 5.6 3.2

Q1 2018

1.6 3.7 2.1

Q2 2018

0.5 2.0 1.5

Q3 2018

0.9 3.0 2.0

Q4 2018

-0.8 0.5 1.4

Q1 2019

3.5 3.2 -0.4

Q2 2019

3.6 3.7 0.1

Q3 2019

3.5 5.6 2.0

Q4 2019

3.2 2.7 -0.5

Q1 2020

-1.2 -7.3 -6.2

Q2 2020

20.7 -32.8 -44.4

Q3 2020

5.7 45.8 38.0

Q4 2020

-3.4 5.4 9.1

Q1 2021

1.6 6.5 4.9

Q2 2021

0.8 7.3 6.4

Q3 2021

-2.4 3.4 5.9

Q4 2021

2.8 8.9 5.9

Q1 2022

-6.3 -2.8 3.7

Q2 2022

-3.6 -1.1 2.6

Q3 2022

0.4 2.8 2.4

Q4 2022

1.6 2.8 1.3

Q1 2023

-0.8 1.8 2.6

Q2 2023

3.6 2.0 -1.5

Q3 2023

4.7 5.9 1.1

Note: Quarterly percent changes are seasonally adjusted annual rates.

Labor productivity in the nonfarm business sector increased 2.2 percent from the third quarter of 2022 to the third quarter of 2023.

These quarterly percent changes are from the Productivity program and are seasonally adjusted annual rates, subject to revision. See "Productivity and Costs — Third Quarter 2023, Preliminary" to learn more. Also see charts on productivity and costs. Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked for all persons, including employees, proprietors, and unpaid family workers.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Nonfarm business labor productivity up 4.7 percent in third quarter 2023 at https://www.bls.gov/opub/ted/2023/nonfarm-business-labor-productivity-up-4-7-percent-in-third-quarter-2023.htm (visited July 22, 2024).

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