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Productivity

Corrected hours worked and labor productivity for Productivity and Costs

Some productivity data series were incorrect in materials published on March 7, 2024. The incorrect data were included in the Productivity and Costs (R) Fourth Quarter and Annual Averages 2023 news release, as well as in the related data tables, charts, and database. A computation error in Off the Clock (OTC) hours worked ratios biased downward the labor hours levels underlying the Productivity and Costs news release. This error affected quarterly and annual hours worked data and all labor-related measures, including labor productivity, from first quarter 2019 through fourth quarter 2023 in all sectors. The corrected data will be published in the data tables, charts, and database on May 2, 2024. The corrected data will also be reflected in the upcoming Productivity and Costs (P) First Quarter 2024 release on May 2, 2024.

Initial estimates of the corrected productivity data are as follows (note these corrected measures do not include updated source data on output and hours released after the respective publication dates):

Nonfarm business data originally published on March 7, 2024
Time Period Published Corrected Difference
Labor Productivity Hours Worked Labor Productivity Hours Worked Labor productivity Hours worked

2019 Q1

4.6 -1.4 3.2 0.0 -1.4 1.4

2019 Q2

2.6 1.1 2.6 1.1 0.0 0.0

2019 Q3

4.2 1.3 4.4 1.1 0.2 -0.2

2019 Q4

3.6 -0.9 3.6 -0.9 0.0 0.0

2020 Q1

-0.3 -7.1 -0.9 -6.5 -0.6 0.6

2020 Q2

24.2 -45.9 22.3 -44.0 -1.9 1.9

2020 Q3

3.0 41.6 6.8 37.7 3.8 -3.8

2020 Q4

-3.9 9.7 -3.2 9.0 0.7 -0.7

2021 Q1

2.3 4.1 2.4 4.0 0.1 -0.1

2021 Q2

-0.3 7.6 -0.1 7.5 0.2 -0.2

2021 Q3

-2.4 6.0 -2.4 6.0 0.0 0.0

2021 Q4

2.5 6.2 2.6 6.1 0.1 -0.1

2022 Q1

-5.5 2.8 -5.7 3.0 -0.2 0.2

2022 Q2

-4.0 3.0 -3.7 2.7 0.3 -0.3

2022 Q3

0.0 2.9 0.1 2.8 0.1 -0.1

2022 Q4

2.1 0.7 2.0 0.8 -0.1 0.1

2023 Q1

-0.6 2.4 -0.4 2.2 0.2 -0.2

2023 Q2

3.1 -1.1 3.2 -1.2 0.1 -0.1

2023 Q3

4.7 1.0 4.6 1.2 -0.1 0.1

2023 Q4

3.2 0.3 3.3 0.2 0.1 -0.1

2019 Annual

2.5 0.4 2.2 0.8 -0.3 0.3

2020 Annual

5.7 -8.0 5.3 -7.6 -0.4 0.4

2021 Annual

1.4 5.8 1.7 5.5 0.3 -0.3

2022 Annual

-1.9 4.1 -1.9 4.0 0.0 0.0

2023 Annual

1.3 1.3 1.3 1.3 0.0 0.0

Business data originally published on March 7, 2024
Time Period Published Corrected Difference
Labor Productivity Hours Worked Labor Productivity Hours Worked Labor productivity Hours worked

2019 Q1

4.3 -1.4 2.8 0.0 -1.5 1.4

2019 Q2

2.7 1.0 2.7 1.0 0.0 0.0

2019 Q3

3.9 1.5 4.1 1.3 0.2 -0.2

2019 Q4

3.5 -0.8 3.5 -0.8 0.0 0.0

2020 Q1

-0.4 -6.8 -1.0 -6.3 -0.6 0.5

2020 Q2

23.3 -45.6 19.2 -43.7 -4.1 1.9

2020 Q3

3.9 40.4 6.8 36.7 2.9 -3.7

2020 Q4

-4.4 10.2 -3.8 9.6 0.6 -0.6

2021 Q1

2.5 4.1 2.6 4.0 0.1 -0.1

2021 Q2

0.1 7.1 0.2 6.9 0.1 -0.2

2021 Q3

-2.2 5.6 -2.2 5.6 0.0 0.0

2021 Q4

2.6 6.0 2.7 5.9 0.1 -0.1

2022 Q1

-6.0 3.2 -6.2 3.4 -0.2 0.2

2022 Q2

-3.9 2.7 -3.6 2.4 0.3 -0.3

2022 Q3

0.0 2.8 0.0 2.7 0.0 -0.1

2022 Q4

2.5 0.4 2.4 0.4 -0.1 0.0

2023 Q1

-0.4 2.5 -0.2 2.3 0.2 -0.2

2023 Q2

2.9 -0.9 3.0 -1.0 0.1 -0.1

2023 Q3

4.6 1.0 4.4 1.2 -0.2 0.2

2023 Q4

3.3 0.2 3.4 0.1 0.1 -0.1

2019 Annual

2.4 0.4 2.1 0.8 -0.3 0.4

2020 Annual

5.5 -7.9 5.1 -7.5 -0.4 0.4

2021 Annual

1.5 5.6 1.8 5.4 0.3 -0.2

2022 Annual

-1.9 3.9 -1.9 3.9 0.0 0.0

2023 Annual

1.4 1.2 1.4 1.2 0.0 0.0

Manufacturing data originally published on March 7, 2024
Time Period Published Corrected Difference
Labor Productivity Hours Worked Labor Productivity Hours Worked Labor productivity Hours worked

2019 Q1

-2.7 -2.3 -3.4 -1.6 -0.7 0.7

2019 Q2

-3.8 0.2 -3.9 0.3 -0.1 0.1

2019 Q3

-1.9 1.0 -1.7 0.8 0.2 -0.2

2019 Q4

0.0 -2.3 0.1 -2.3 0.1 -0.1

2020 Q1

1.4 -7.0 1.1 -6.7 -0.3 0.3

2020 Q2

-5.0 -40.9 -6.2 -39.8 -1.2 1.2

2020 Q3

15.7 32.6 17.3 30.9 1.6 -1.6

2020 Q4

-1.5 8.9 -1.4 8.8 0.1 -0.1

2021 Q1

-1.1 1.3 -0.9 1.2 0.2 -0.2

2021 Q2

4.9 1.2 5.0 1.1 0.1 -0.1

2021 Q3

-1.5 4.8 -1.5 4.8 0.0 0.0

2021 Q4

-1.5 6.5 -1.8 6.8 -0.3 0.3

2022 Q1

-2.4 5.7 -2.3 5.6 0.1 -0.1

2022 Q2

0.8 2.2 0.9 2.1 0.1 -0.1

2022 Q3

-3.1 3.6 -3.1 3.7 0.0 0.0

2022 Q4

-2.8 -0.9 -2.8 -0.9 0.0 0.0

2023 Q1

-1.6 1.2 -1.2 0.7 0.4 -0.4

2023 Q2

3.6 -2.4 3.6 -2.4 0.0 0.0

2023 Q3

-1.2 0.5 -1.4 0.6 -0.2 0.2

2023 Q4

1.3 -3.3 1.5 -3.5 0.2 -0.2

2019 Annual

-2.0 0.0 -2.2 0.1 -0.2 0.2

2020 Annual

0.8 -7.7 0.6 -7.4 -0.2 0.2

2021 Annual

1.5 3.3 1.6 3.2 0.1 -0.1

2022 Annual

-1.2 4.0 -1.2 4.0 0.0 0.0

2023 Annual

-0.8 0.2 -0.7 0.1 0.1 -0.1

Durable manufacturing data originally published on March 7, 2024
Time Period Published Corrected Difference
Labor Productivity Hours Worked Labor Productivity Hours Worked Labor productivity Hours worked

2019 Q1

-6.9 -1.4 -7.5 -0.8 -0.6 0.6

2019 Q2

-4.0 0.3 -4.2 0.5 -0.2 0.2

2019 Q3

-2.1 0.7 -1.8 0.4 0.3 -0.3

2019 Q4

2.1 -3.2 2.2 -3.2 0.1 -0.1

2020 Q1

-0.1 -7.6 -0.3 -7.3 -0.2 0.2

2020 Q2

-15.8 -45.8 -16.9 -44.7 -1.1 1.1

2020 Q3

38.9 38.2 40.7 36.4 1.8 -1.8

2020 Q4

-2.1 7.0 -1.9 6.8 0.2 -0.2

2021 Q1

-3.6 3.0 -3.3 2.8 0.3 -0.3

2021 Q2

-3.5 0.6 -3.4 0.4 0.1 -0.1

2021 Q3

-2.1 4.9 -2.3 5.0 -0.2 0.2

2021 Q4

0.3 5.0 0.0 5.2 -0.3 0.3

2022 Q1

-2.1 7.9 -1.8 7.5 0.3 -0.3

2022 Q2

2.1 3.2 2.1 3.2 0.0 0.0

2022 Q3

-3.0 5.1 -3.0 5.1 0.0 0.0

2022 Q4

-2.7 0.0 -2.6 -0.1 0.1 -0.1

2023 Q1

-3.8 2.2 -3.7 2.1 0.1 -0.1

2023 Q2

6.6 -2.5 6.6 -2.5 0.0 0.0

2023 Q3

-2.9 3.8 -2.7 3.6 0.2 -0.2

2023 Q4

-1.0 -3.0 -0.7 -3.3 0.3 -0.3

2019 Annual

-3.2 0.1 -3.4 0.2 -0.2 0.2

2020 Annual

0.9 -9.1 0.7 -8.9 -0.2 0.2

2021 Annual

0.7 3.1 0.8 3.0 0.1 -0.1

2022 Annual

-1.1 4.7 -1.1 4.7 0.0 0.0

2023 Annual

-1.1 1.3 -1.0 1.2 0.1 -0.1

Nondurable manufacturing data originally published on March 7, 2024
Time Period Published Corrected Difference
Labor Productivity Hours Worked Labor Productivity Hours Worked Labor productivity Hours worked

2019 Q1

1.1 -2.3 0.2 -1.4 -0.9 0.9

2019 Q2

-3.1 0.1 -2.8 -0.2 0.3 -0.3

2019 Q3

1.6 -1.2 1.6 -1.1 0.0 0.0

2019 Q4

-0.3 -2.2 -0.2 -2.3 0.1 -0.1

2020 Q1

1.4 -3.7 0.9 -3.2 -0.5 0.5

2020 Q2

3.2 -32.5 2.1 -31.3 -1.1 1.1

2020 Q3

-2.0 23.4 -0.7 22.1 1.3 -1.3

2020 Q4

-0.7 9.1 -0.8 9.2 -0.1 0.1

2021 Q1

-3.7 2.6 -3.6 2.5 0.1 -0.1

2021 Q2

12.0 2.2 12.0 2.2 0.0 0.0

2021 Q3

-0.3 2.9 0.0 2.6 0.3 -0.3

2021 Q4

-1.1 4.9 -1.4 5.3 -0.3 0.3

2022 Q1

-1.8 2.5 -2.0 2.6 -0.2 0.2

2022 Q2

-2.7 3.4 -2.6 3.3 0.1 -0.1

2022 Q3

-2.9 1.7 -2.9 1.8 0.0 0.0

2022 Q4

-2.3 -2.4 -2.4 -2.3 -0.1 0.1

2023 Q1

-0.2 1.1 0.9 0.0 1.1 -1.1

2023 Q2

2.9 -4.5 2.8 -4.4 -0.1 0.1

2023 Q3

2.8 -4.9 2.1 -4.1 -0.7 0.7

2023 Q4

1.6 -1.5 1.8 -1.8 0.2 -0.2

2019 Annual

-0.5 -0.2 -0.7 0.0 -0.2 0.2

2020 Annual

0.7 -5.6 0.5 -5.3 -0.2 0.2

2021 Annual

0.9 3.5 1.0 3.4 0.1 -0.1

2022 Annual

-1.0 2.7 -1.1 2.7 -0.1 0.1

2023 Annual

-0.1 -1.2 0.1 -1.4 0.2 -0.2

Nonfinancial corporations data originally published on March 7, 2024
Time Period Published Corrected Difference
Labor Productivity Hours Worked Labor Productivity Hours Worked Labor productivity Hours worked

2019 Q1

1.3 -0.9 -0.3 0.7 -1.6 1.6

2019 Q2

0.1 1.6 0.1 1.6 0.0 0.0

2019 Q3

1.4 1.0 1.6 0.8 0.2 -0.2

2019 Q4

4.1 -1.2 4.1 -1.2 0.0 0.0

2020 Q1

1.5 -6.4 0.8 -5.8 -0.7 0.7

2020 Q2

12.4 -44.7 10.2 -42.5 -2.2 2.2

2020 Q3

-3.9 38.7 0.2 34.6 4.1 -4.1

2020 Q4

11.1 10.8 11.9 10.0 0.8 -0.8

2021 Q1

4.3 3.3 4.4 3.2 0.1 -0.1

2021 Q2

-0.3 6.7 -0.1 6.5 0.2 -0.2

2021 Q3

2.5 4.4 2.4 4.5 -0.1 0.1

2021 Q4

-2.5 8.0 -2.3 7.8 0.2 -0.2

2022 Q1

-1.9 2.7 -2.2 3.0 -0.3 0.3

2022 Q2

-2.6 3.3 -2.2 2.9 0.4 -0.4

2022 Q3

1.2 3.8 1.3 3.7 0.1 -0.1

2022 Q4

-0.6 0.5 -0.7 0.6 -0.1 0.1

2023 Q1

1.5 2.7 1.7 2.5 0.2 -0.2

2023 Q2

1.7 -0.4 1.8 -0.5 0.1 -0.1

2023 Q3

3.2 0.7 3.0 0.8 -0.2 0.2

2019 Annual

2.0 0.6 1.6 0.9 -0.4 0.4

2020 Annual

3.9 -7.8 3.5 -7.3 -0.4 0.4

2021 Annual

3.3 5.5 3.6 5.1 0.3 -0.3

2022 Annual

-1.0 4.2 -1.0 4.2 0.0 0.0