Nonfarm labor productivity in the US fell by an annualized 4.2 percent in the last quarter of 2020, less than initial estimates of a 4.8 percent decline. Still, it remains the biggest decline in productivity since the second quarter of 1981. Output increased 5.5 percent and hours worked rose 10.1 percent. Year-on-year, nonfarm business sector labor productivity increased 2.4 percent, reflecting a 2.6 percent decline in output and a 4.9 percent drop in hours worked. It compares with initial estimates of a 2.5 percent rise. source: U.S. Bureau of Labor Statistics
Productivity in the United States averaged 61.84 points from 1950 until 2020, reaching an all time high of 112.48 points in the third quarter of 2020 and a record low of 25.99 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 March of 2021.
Productivity in the United States is expected to be 110.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Productivity in the United States to stand at 111.00 in 12 months time. In the long-term, the United States Nonfarm Labour Productivity is projected to trend around 111.00 points in 2022 and 112.00 points in 2023, according to our econometric models.