Nonfarm business labor productivity down 4.6 percent in second quarter 2022
Nonfarm labor productivity fell 4.6 percent in the second quarter of 2022 as output fell 2.1 percent and hours worked rose 2. This may interest you : Memorandum to Combat Illegal, Unreported and Unregulated Fishing and Associated Labor Abuse.6 percent. Over the past 10 years, the change in business labor productivity has ranged from -7.4 percent (in the first quarter of 2022) to 10.3 percent (second quarter of 2020).
Nonfarm Business Productivity and Costs, Percentage Change from Previous Quarter in Annual Rate, First Quarter 2012 to Second Quarter 2022 Quarter Labor productivity (output per hour) Output Working hours Hourly compensation Unit Labor Cost Q1 2012 1.8% 5.1% 3.2% 10.0% 8.0% Q2 2012 1.7 2.6 0.9 2.0 0.3 Q3 2012 -0.4 1.2 1.6 0.4 0.8 Q4 2012 -1.3 0.8 2.1 11.0 12.5 Q1 2013 2.2 3.8 1.6 -5.7 -7.7 Q2 2013 -1.3 0.2 1.6 2.9 4.3 Q3 2013 1.9 4.2 2.4 -1.1 -2.9 Q4 2013 2.8 4.2 1.4 2.7 0.0 Q1 2014 -4.0 -2.1 1.9 8.0 12.5 Q2 2014 3.8 6.8 2.9 -1.8 -5.4 Q3 2014 3.5 6.4 2.8 2.6 -0.9 Q4 2014 -2.2 2.3 4.7 4.3 6.7 Q1 2015 3.4 4.0 0.5 5.3 1.8 Q2 2015 1.1 3.0 1.8 3.3 2.2 Q3 2015 -0.1 1.3 1.4 1.2 1.4 Q4 2015 -1.6 0.4 2.0 -0.2 1.5 Q1 2016 1.3 2.7 1.4 0.3 -1.0 Q2 2016 -0.3 1.2 1.6 1.1 1.4 Q3 2016 1.6 2.8 1.2 1.7 0.1 Q4 2016 2.3 2.8 0.5 4.3 2.0 Q1 2017 0.3 1.9 1.6 4.0 3.7 Q2 2017 -0.5 2.8 3.3 2.0 2.5 Q3 2017 3.4 3.8 0.5 5.1 1.7 Q4 2017 1.8& #xD; 4.7 2.8 5.9 4.0 Q1 2018 1.3 3.6 2.3 2.5 1.2 Q2 2018 1.4 3.9 2.4 1.0 -0.4 Q3 2018 1.3 2.2 0.9 5.2 3.8 Q4 2018 0.1 1.1 0.9 1.9 1.7 Q1 2019 3.4 3.4 0.0 9.3 5.7 Q2 2019 3.7 3.6 -0.1 0.8 -2.8 Q3 2019 1.3 3.2 1.9 0.4 -0.9 Q4 2019 1.4 1.8 0.4 5.2 3.8 Q1 2020 -2.5 -7.4 -5.0 8.7 11.5 Q2 2020 10.3 -36.9 -42.7 21.6 10.3 Q3 2020 6.2 44.6 36.2 -4.7 -10.3 Q4 2020 -2.8 6.2 9.2 10.6 13.8 Q1 2021 2.2 8.4 6.1 -0.6 -2.7 Q2 2021 3.2 8.5 5.1 9.2 5.8 Q3 2021 -3.9 2.0 6.2 6.3 10.6 O4 2021 6.3 9.0 2.5 10.5 3.9 Q1 2022 -7.4 -2.5 5.3 4.4 12.7 Q2 2022 -4.6 -2.1 2.6 5.7 10.8
Unit labor costs in the nonfarm business sector rose 10.8 percent in the second quarter of 2022, reflecting a 5.7 percent increase in hourly compensation and a 4.6 percent decline in productivity.
Hourly compensation increased by 5.7 percent in the non-agricultural business sector in the second quarter of 2022.
This data is from the Productivity Program and is subject to revision. See “Productivity and Costs – Second Quarter 2022 (Provisional)” to learn more. See also charts related to the latest “Productivity and Costs” news release. Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked for all persons, including employees, owners and unpaid family workers. Labor costs are calculated as the ratio between hourly compensation and labor productivity. Increases in hourly wages tend to increase unit labor costs, and increases in productivity tend to decrease them.
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