Nonfarm business sector labor productivity in the US rose by an annualized 4.6 percent in the third quarter of 2020, below a preliminary estimate of 4.9 percent growth and following a 10.6 percent increase in the second quarter, which was the fastest since 1971. Output and hours worked were up by the most since the series began in 1947, recovering from the previous period's record slumps. Manufacturing sector labor productivity increased at a 19.9 percent annual rate in the July to September period. Year-on-year, nonfarm business productivity advanced 4.0 percent, reflecting a 3.4 percent contraction in output and a 7.1 percent decline in hours worked. source: U.S. Bureau of Labor Statistics
Productivity in the United States averaged 61.67 points from 1950 until 2020, reaching an all time high of 112.34 points in the third quarter of 2020 and a record low of 25.99 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 January of 2021.
Productivity in the United States is expected to be 109.20 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Productivity in the United States to stand at 110.50 in 12 months time. In the long-term, the United States Nonfarm Labour Productivity is projected to trend around 111.00 points in 2021 and 112.00 points in 2022, according to our econometric models.