Productivity
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Latest Numbers
Labor Productivity and Costs: Major Sectors
NONFARM BUSINESS SECTOR:
Labor productivity (output per hour)
+2.2% in 3rd Qtr of 2024
Hourly compensation
+3.1%(r) in 3rd Qtr of 2024
Unit labor costs
+0.8%(r) in 3rd Qtr of 2024
Real value-added output
+3.5% in 3rd Qtr of 2024
Hours worked
+1.2% in 3rd Qtr of 2024
MANUFACTURING SECTOR:
Labor productivity (output per hour)
+0.9%(r) in 3rd Qtr of 2024
Hourly compensation
+2.6%(r) in 3rd Qtr of 2024
Unit labor costs
+1.7%(r) in 3rd Qtr of 2024
Real sectoral output
-0.4%(r) in 3rd Qtr of 2024
Hours worked
-1.3%(r) in 3rd Qtr of 2024
Total Factor Productivity
PRIVATE BUSINESS SECTOR:
Total factor productivity
+1.3% in 2023
PRIVATE NONFARM BUSINESS SECTOR:
Total factor productivity
+1.2% in 2023
MANUFACTURING SECTOR:
Total factor productivity
-3.2% in 2023