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Productivity falls 2.2% in 4th quarter 2015 (annual rate); unit labor costs rise 3.3%
Productivity falls 2.2% in 4th quarter 2015 (annual rate); unit labor costs rise 3.3%Economic News Release USDL 16-0419
Productivity and Costs, Fourth Quarter and Annual Averages 2015, Revised
Transmission of material in this release is embargoed until 8:30 a.m. (EST) Thursday, March 3, 2016
Technical information: (202) 691-5606 dprweb@bls.gov www.bls.gov/lpc
Media contact: (202) 691-5902 PressOffice@bls.gov
PRODUCTIVITY AND COSTS
Fourth Quarter and Annual Averages 2015, Revised
Nonfarm business sector labor productivity decreased at a 2.2-percent annual rate during the fourth quarter of 2015, the U.S. Bureau of Labor Statistics reported today, as output increased 1.0 percent and hours worked increased 3.2 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the fourth quarter of 2014 to the fourth quarter of 2015, productivity increased 0.5 percent. (See table A.) Annual average productivity increased 0.7 percent from 2014 to 2015. (See table C.)
Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked of all persons, including employees, proprietors, and unpaid family workers. Measures released today were based on more recent source data than were available for the preliminary report.
Unit labor costs in the nonfarm business sector increased 3.3 percent in the fourth quarter of 2015, reflecting a 1.1-percent increase in hourly compensation and a 2.2-percent decrease in productivity. Unit labor costs increased 2.1 percent over the last four quarters. (See tables A and 2.)
....
Manufacturing sector labor productivity decreased 0.7 percent in the fourth quarter of 2015, as output increased 0.1 percent and hours worked rose 0.8 percent. Productivity declined 1.8 percent in the durable goods manufacturing sector and increased 0.3 percent in the nondurable goods sector. (See tables A, 3, 4, and 5.) Over the last four quarters, manufacturing productivity increased 1.4 percent, as output increased 1.0 percent and hours declined 0.4 percent. Unit labor costs in manufacturing increased 3.2 percent in the fourth quarter of 2015 and rose 1.0 percent from the same quarter a year ago. (See tables A and 3.)
....
The preliminary Productivity and Costs news release for first-quarter 2016 is scheduled to be released on Wednesday, May 4, 2016 at 8:30 a.m. (EDT).
Productivity and Costs, Fourth Quarter and Annual Averages 2015, Revised
Transmission of material in this release is embargoed until 8:30 a.m. (EST) Thursday, March 3, 2016
Technical information: (202) 691-5606 dprweb@bls.gov www.bls.gov/lpc
Media contact: (202) 691-5902 PressOffice@bls.gov
PRODUCTIVITY AND COSTS
Fourth Quarter and Annual Averages 2015, Revised
Nonfarm business sector labor productivity decreased at a 2.2-percent annual rate during the fourth quarter of 2015, the U.S. Bureau of Labor Statistics reported today, as output increased 1.0 percent and hours worked increased 3.2 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the fourth quarter of 2014 to the fourth quarter of 2015, productivity increased 0.5 percent. (See table A.) Annual average productivity increased 0.7 percent from 2014 to 2015. (See table C.)
Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked of all persons, including employees, proprietors, and unpaid family workers. Measures released today were based on more recent source data than were available for the preliminary report.
Unit labor costs in the nonfarm business sector increased 3.3 percent in the fourth quarter of 2015, reflecting a 1.1-percent increase in hourly compensation and a 2.2-percent decrease in productivity. Unit labor costs increased 2.1 percent over the last four quarters. (See tables A and 2.)
....
Manufacturing sector labor productivity decreased 0.7 percent in the fourth quarter of 2015, as output increased 0.1 percent and hours worked rose 0.8 percent. Productivity declined 1.8 percent in the durable goods manufacturing sector and increased 0.3 percent in the nondurable goods sector. (See tables A, 3, 4, and 5.) Over the last four quarters, manufacturing productivity increased 1.4 percent, as output increased 1.0 percent and hours declined 0.4 percent. Unit labor costs in manufacturing increased 3.2 percent in the fourth quarter of 2015 and rose 1.0 percent from the same quarter a year ago. (See tables A and 3.)
....
The preliminary Productivity and Costs news release for first-quarter 2016 is scheduled to be released on Wednesday, May 4, 2016 at 8:30 a.m. (EDT).