Nonfarm business sector labor productivity growth in the United States was revised lower to 1.7 percent in the fourth quarter of 2022, down from a preliminary estimate of 3.0 percent and compared with the previous period's 1.2 percent increase. Output grew 3.1 percent (vs a preliminary 3.5 percent) and hours worked were up 1.4 percent (vs a preliminary 0.5 percent). On a yearly basis, productivity decreased 1.8 percent in the final three months of 2022, reflecting a 0.7 percent expansion in output and a 2.6 percent advance in hours worked. Considering 2022 full year, annual average productivity decreased 1.7 percent, the largest decline since 1974, when productivity also decreased 1.7 percent. source: U.S. Bureau of Labor Statistics
Productivity in the United States averaged 63.49 points from 1950 until 2022, reaching an all time high of 115.37 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 March of 2023.
Productivity in the United States is expected to be 113.90 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.