Productivity
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Latest Numbers
Labor Productivity and Costs: Major Sectors
NONFARM BUSINESS SECTOR:
Labor productivity (output per hour)
+3.2% in 4th Qtr of 2023
Hourly compensation
+3.6%(r) in 4th Qtr of 2023
Unit labor costs
+0.4%(r) in 4th Qtr of 2023
Real value-added output
+3.5%(r) in 4th Qtr of 2023
Hours worked
+0.3%(r) in 4th Qtr of 2023
MANUFACTURING SECTOR:
Labor productivity (output per hour)
+1.3%(r) in 4th Qtr of 2023
Hourly compensation
+6.7%(r) in 4th Qtr of 2023
Unit labor costs
+5.3%(r) in 4th Qtr of 2023
Real sectoral output
-2.0%(r) in 4th Qtr of 2023
Hours worked
-3.3%(r) in 4th Qtr of 2023
Total Factor Productivity
PRIVATE BUSINESS SECTOR:
Total factor productivity
+0.7% in 2023
PRIVATE NONFARM BUSINESS SECTOR:
Total factor productivity
+0.7% in 2023
MANUFACTURING SECTOR:
Total factor productivity
-1.3% in 2022