Labor productivity in the US non-farm business sector rose by an annualized 10.1 percent during the second quarter of 2020, well above a preliminary estimate of a 7.3 percent increase mainly due to a 1.8 percentage point upward revision to output. Unit labor costs increased 9.0 percent, a smaller increase than previously reported (12.2 percent). This downward revision is largely due to the 2.8 percentage point upward revision to productivity; the remaining revision comes from hourly compensation being revised down 0.4 percentage point, from a 20.4 percent increase to a 20.0 percent increase.
Productivity in the United States averaged 61.49 points from 1950 until 2020, reaching an all time high of 110.95 points in the second 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 October of 2020.
Productivity in the United States is expected to be 110.70 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 110.60 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.