Nonfarm business sector labor productivity in the US increased 3.7 percent in the second quarter of 2023, the biggest increase in nearly three years, and rebounding from a downwardly revised 1.2 percent fall in the previous quarter. It compares with market forecasts of of 2%, preliminary estimates showed. Output rose 2.4 percent and hours worked decreased 1.3 percent, the first fall since the second quarter of 2020, due to a 1.3 percent drop in average weekly hours while employment was unchanged. From the same quarter a year ago, nonfarm business sector labor productivity increased 1.3 percent, the first gain since the fourth quarter of 2021, reflecting a 2.6 percent rise in output and a 1.2 percent increase in hours worked. source: U.S. Bureau of Labor Statistics

Productivity in the United States averaged 63.83 points from 1950 until 2023, reaching an all time high of 115.41 points in the second quarter of 2021 and a record low of 26.24 points in the first quarter of 1950. This page provides - United States Productivity - actual values, historical data, forecast, chart, statistics, economic calendar and news. United States Nonfarm Labour Productivity - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Productivity in the United States is expected to be 112.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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United States Nonfarm Labour Productivity



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-06-01 12:30 PM Nonfarm Productivity QoQ Final Q1 -2.1% 1.6% -2.5% -2.7%
2023-08-03 12:30 PM Nonfarm Productivity QoQ Prel Q2 3.7% -1.2% 2% 1.5%
2023-09-07 12:30 PM Nonfarm Productivity QoQ Final Q2 -1.2% 3.8% 3.7%


Related Last Previous Unit Reference
Unemployment Rate 3.50 3.60 percent Jul 2023
Non Farm Payrolls 187.00 185.00 Thousand Jul 2023
Government Payrolls 15.00 57.00 Thousand Jul 2023
Nonfarm Payrolls Private 172.00 128.00 Thousand Jul 2023
Manufacturing Payrolls -2.00 6.00 Thousand Jul 2023
Initial Jobless Claims 230.00 240.00 Thousand Aug 2023
Continuing Jobless Claims 1702.00 1711.00 Thousand Aug 2023
Unemployed Persons 5841.00 5957.00 Thousand Jul 2023
Employed Persons 161262.00 160994.00 Thousand Jul 2023
Average Hourly Earnings 0.40 0.40 percent Jul 2023
Average Weekly Hours 34.30 34.40 Hours Jul 2023
Labor Force Participation Rate 62.60 62.60 percent Jul 2023
Long Term Unemployment Rate 0.69 0.66 percent Jul 2023
Youth Unemployment Rate 8.00 7.50 percent Jul 2023
Productivity 114.02 112.98 points Jun 2023
Labour Costs 128.77 128.24 points Jun 2023
Job Vacancies 9515.00 8885.00 Thousand Jul 2023
Job Offers 8827.00 9165.00 Thousand Jul 2023
Wages 28.96 28.83 USD/Hour Jul 2023
Wages in Manufacturing 26.47 26.33 USD/Hour Jul 2023
Employment Cost Index 1.00 1.20 percent Jun 2023
Jobless Claims 4-week Average 236.75 234.50 Thousand Aug 2023
Part Time Employment 27153.00 26181.00 Thousand Jul 2023
Full Time Employment 134274.00 134859.00 Thousand Jul 2023
Employment Rate 60.40 60.30 percent Jul 2023

United States Nonfarm Labour Productivity
In the United States, the productivity of nonfarm workers is measured as the output of goods and services per hour worked. Labor productivity is calculated by dividing an index of real output by an index of hours worked of all persons, including employees, proprietors, and unpaid family workers.
Actual Previous Highest Lowest Dates Unit Frequency
114.02 112.98 115.41 26.24 1950 - 2023 points Quarterly
2012=100, SA

News Stream
US Labour Productivity Rises More than Expected
Nonfarm business sector labor productivity in the US increased 3.7 percent in the second quarter of 2023, the biggest increase in nearly three years, and rebounding from a downwardly revised 1.2 percent fall in the previous quarter. It compares with market forecasts of of 2%, preliminary estimates showed. Output rose 2.4 percent and hours worked decreased 1.3 percent, the first fall since the second quarter of 2020, due to a 1.3 percent drop in average weekly hours while employment was unchanged. From the same quarter a year ago, nonfarm business sector labor productivity increased 1.3 percent, the first gain since the fourth quarter of 2021, reflecting a 2.6 percent rise in output and a 1.2 percent increase in hours worked.
2023-08-03
US Productivity Falls Less than Initially Thought
Nonfarm business sector labor productivity declined by 2.1 percent in the first quarter of 2023, which was lower than the preliminary estimate of a 2.7 percent fall and better than market expectations of a 2.5 percent drop. Output grew 0.5 percent, surpassing the preliminary estimate of 0.2 percent, while hours worked were up 2.6 percent, slightly lower than the preliminary estimate of 3.0 percent. On a yearly basis, productivity decreased 0.8 percent in the first three months of 2023, reflecting a 1.4 percent increase in output and a 2.2 percent rise in hours worked. Productivity has been experiencing a contraction for five consecutive quarters on a year-on-year basis, which marks the longest period of contraction since the series began in the first quarter of 1948.
2023-06-01
US Productivity Declines More than Forecast in Q1
Nonfarm business sector labor productivity in the United States saw a substantial decline of 2.7 percent in the first quarter of 2023, as per a preliminary estimate. This followed a downwardly revised 1.6 percent increase in the previous three-month period and was much worse than market expectations of a 1.8 percent drop. The output grew by a meager 0.2 percent, compared to 2.9 percent in Q4 2022, while hours worked were up by 3.0 percent, compared to 1.3 percent in Q4. Yearly, productivity declined 0.9 percent in the first quarter of 2023.
2023-05-04