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 I 0.3 1.3 1.0 5.0 1.1 4.7 0.5 2.8
2023 ANNUAL 1.4 r 2.6 1.2 r 4.4 r 0.2 3.0 4.0 3.4
2023 IV 3.5 r 3.8 r 0.2 3.5 r 0.8 r 0.0 r 2.7 r 1.2
III 4.6 r 5.8 1.1 r 4.6 1.1 0.1 6.8 3.0
II 3.3 r 2.0 -1.3 r 5.9 r 2.8 r 2.5 0.0 1.4
I -0.3 r 1.8 2.1 r 6.8 r 2.9 r 7.1 0.0 3.9
2022 ANNUAL -1.9 2.1 4.0 3.7 -4.1 5.7 10.0 7.5
2022 IV 2.1 r 2.8 0.8 0.0 r -3.9 r -2.0 11.0 3.5
III 0.0 2.8 2.8 7.1 1.7 r 7.1 0.1 3.9
II -3.7 -1.1 2.7 0.8 -8.5 r 4.7 16.9 9.9
I -5.7 -2.8 3.1 r 2.0 r -6.6 8.3 9.9 9.0
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Percent change from corresponding quarter of previous year
2024 I 2.9 3.2 0.3 4.7 1.5 1.8 2.4 2.1
2023 ANNUAL 1.4 r 2.6 1.2 r 4.4 r 0.2 3.0 4.0 3.4
2023 IV 2.7 r 3.3 r 0.6 5.2 1.9 2.4 r 2.3 r 2.4
III 2.4 r 3.1 0.7 4.3 r 0.7 r 1.9 4.3 2.9
II 1.3 r 2.4 1.1 4.9 r 0.8 r 3.6 2.7 3.2
I -0.5 1.6 2.1 3.6 -2.0 r 4.2 r 6.8 5.3
2022 ANNUAL -1.9 2.1 4.0 3.7 -4.1 5.7 10.0 7.5
2022 IV -1.9 0.4 2.3 2.5 -4.4 4.4 9.3 6.5
III -1.8 1.8 3.7 4.0 -4.0 5.8 10.4 7.8
II -2.4 2.0 4.5 3.6 -4.7 r 6.1 11.5 8.4
I -1.5 4.1 5.6 5.0 -3.0 6.5 8.8 7.5
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Indexes 2017=100
2024 I 111.9 118.4 105.8 135.7 106.6 121.2 124.9 122.8
2023 ANNUAL 110.2 r 116.2 r 105.5 r 131.8 r 105.7 r 119.7 r 123.2 r 121.2 r
2023 IV 111.8 r 118.0 r 105.5 r 134.0 r 106.3 r 119.9 r 124.8 r 122.0 r
III 110.9 r 116.9 105.4 r 132.9 r 106.1 r 119.9 r 124.0 r 121.6
II 109.6 r 115.3 105.1 r 131.4 r 105.8 r 119.8 r 122.0 r 120.8
I 108.8 r 114.7 105.5 r 129.5 r 105.1 r 119.1 r 122.0 r 120.3
2022 ANNUAL 108.7 r 113.3 104.2 r 126.3 r 105.5 r 116.2 r 118.5 r 117.2
2022 IV 108.8 r 114.2 104.9 r 127.4 r 104.3 r 117.1 r 122.0 r 119.2
III 108.3 r 113.4 104.7 r 127.4 r 105.4 r 117.7 r 118.8 r 118.2
II 108.3 r 112.6 104.0 r 125.3 r 104.9 r 115.7 r 118.8 r 117.0
I 109.3 r 112.9 103.3 r 125.0 r 107.3 r 114.4 r 114.2 r 114.3
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See footnotes following Table 6. May 2, 2024
r=revised Source: Bureau of Labor Statistics
Last Modified Date: May 02, 2024
United States Department of Labor
