Nonfarm labor productivity in the US slumped an annualized 7.5 percent in the first quarter of 2022, much more than market expectations of a 5.4 percent drop and following a downwardly revised 6.3 percent expansion in the previous period. It was the steepest contraction in nonfarm labor productivity since the third quarter of 1947, as output slid 2.4 percent (vs 9.0 percent in Q4 2021) and hours worked jumped 5.5 percent (vs 2.5 percent). Year-on-year, nonfarm business sector labor productivity edged down 0.6 percent, following an upwardly revised 1.9 percent advance. source: U.S. Bureau of Labor Statistics
Productivity in the United States averaged 62.44 points from 1950 until 2021, reaching an all time high of 113.13 points in the fourth 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 May of 2022.
Productivity in the United States is expected to be 114.00 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 112.00 points in 2023 and 110.00 points in 2024, according to our econometric models.