Nonfarm labor productivity in the US fell an annualized 7.3 percent in the first quarter of 2022, below earlier estimates of a 7.5 percent drop and following a 6.3 percent rise in the previous period. It was the steepest decrease in productivity since the third quarter of 1947, as output fell by 2.4 percent and hours worked rose by 5.4 percent. Year-on-year, the nonfarm business sector labor productivity fell by 0.6 percent, consistent with previous estimates. source: U.S. Bureau of Labor Statistics
Productivity in the United States averaged 62.61 points from 1950 until 2022, reaching an all time high of 113.17 points in the fourth quarter of 2021 and a record low of 25.97 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 2022.
Productivity in the United States is expected to be 112.00 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.