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March 07, 2018US PRODUCTIVITY 4TH QUARTER 2017 REVISED Nonfarm business sector labour productivity in the US was revised to 0.0 per cent in the fourth quarter of 2017, with output increasing 3.2 per cent and hours worked increasing 3.3 per cent. Unit labour costs increased 2.5 per cent, and hourly compensation declined 2.4 per cent.
Manufacturing sector labour productivity increased 6.0 per cent in Q4 with output increasing 6.6 per cent and hours worked increasing 0.5 per cent. Productivity was up 8.1 per cent for durable goods, and up 3.4 per cent in the nondurable goods sector. Unit labour costs were down 3.3 per cent in manufacturing.
ANNUAL
US nonfarm business labour productivity increased 1.2 per cent in 2017 after being unchanged 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 1.6 per cent, unit labour costs increased 0.4 per cent.
Source: US Bureau of Labor Statistics
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