Non-farm labor productivity in the US increased an annualized 0.3 percent in the third quarter of 2022, below market expectations of a 0.6 percent rise, preliminary estimates showed. Output advanced 2.8 percent, recovering from a 1.2 percent fall in Q2 and hours worked rose 2.4 percent, easing from a 2.9 percent gain. Year-on-year, non-farm business sector labor productivity fell by 1.4 percent, following a 2.1 percent drop in Q2. source: U.S. Bureau of Labor Statistics
Productivity in the United States averaged 63.33 points from 1950 until 2022, reaching an all time high of 115.97 points in the fourth 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 November of 2022.
Productivity in the United States is expected to be 114.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Nonfarm Labour Productivity is projected to trend around 112.00 points in 2023 and 110.00 points in 2024, according to our econometric models.