Nonfarm labor productivity in the US fell an annualized 5.0 percent in the third quarter of 2021, the most since 1981 and more than market expectations of a 3.0 percent drop and after an upwardly revised 2.4 percent gain in the prior period. Output increased 1.7 percent (vs 8.5 percent in Q2) and hours worked jumped 7.0 percent (vs 5.9 percent). Year-on-year, nonfarm business sector labor productivity decreased 0.5 percent, following an upwardly revised 1.9 percent advance in the second quarter. source: U.S. Bureau of Labor Statistics
Productivity in the United States averaged 62.29 points from 1950 until 2021, reaching an all time high of 112.76 points in the second 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 December of 2021.
Productivity in the United States is expected to be 112.20 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 114.50 points in 2022 and 116.00 points in 2023, according to our econometric models.