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February 01, 2018US PRODUCTIVITY 4TH QUARTER 2017 Nonfarm business sector labour productivity in the US decreased 0.1 per cent (seasonally adjusted annualized rate) in Q4 2017, slower than Q3 growth of 2.7. Output increased 3.2 per cent and hours worked rose 3.3 per cent. Unit labour costs increased 2.0 per cent reflecting the 0.1 per cent decrease in productivity and a 1.8 per cent increase in hourly compensation.
Manufacturing sector labour productivity increased 5.7 per cent in Q4 with output increasing 8.2 per cent and hours worked increasing 1.4 per cent. Productivity was up 6.7 per cent for durable goods, and up 4.5 per cent in the nondurable goods sector. Unit labour costs were down 3.7 per cent in manufacturing.
US nonfarm business labour productivity increased 1.2 per cent in 2017 after a 0.1 per cent decline in 2016. Output in the US was up 2.9 per cent while hours worked increased 1.6 per cent. With the 1.2 per cent increase in labour productivity and hourly compensation rising 1.5 per cent, unit labour costs increased 0.2 per cent the smallest increase in seven years.
Source: US Bureau of Labor Statistics
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