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BLS report: Productivity rises 1.5% in 2nd quarter 2017 (annual rate); unit labor costs rise 0.2%
Productivity rises 1.5% in 2nd quarter 2017 (annual rate); unit labor costs rise 0.2%
Economic News Release USDL 17-1221
Productivity and Costs, Second Quarter 2017, Revised
Transmission of material in this release is embargoed until 8:30 a.m. (EDT) Thursday, September 7, 2017
Technical information: (202) 691-5606 Productivity@bls.gov www.bls.gov/lpc
Media contact: (202) 691-5902 PressOffice@bls.gov
PRODUCTIVITY AND COSTS
Second Quarter 2017, Revised
Nonfarm business sector labor productivity increased 1.5 percent during the second quarter of 2017, the U.S. Bureau of Labor Statistics reported today, as output increased 4.0 percent and hours worked increased 2.5 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the second quarter of 2016 to the second quarter of 2017, productivity increased 1.3 percent, reflecting a 2.8-percent increase in output and a 1.5-percent increase in hours worked. (See tables A1 and 2.)
Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked by all persons, including employees, proprietors, and unpaid family workers.
Unit labor costs in the nonfarm business sector increased 0.2 percent in the second quarter of 2017, reflecting a 1.8-percent increase in hourly compensation and a 1.5-percent increase in productivity. Unit labor costs decreased 0.2 percent over the last four quarters. (See tables A1 and 2.)
BLS calculates unit labor costs as the ratio of hourly compensation to labor productivity. Increases in hourly compensation tend to increase unit labor costs, and increases in output per hour tend to reduce them.
Economic News Release USDL 17-1221
Productivity and Costs, Second Quarter 2017, Revised
Transmission of material in this release is embargoed until 8:30 a.m. (EDT) Thursday, September 7, 2017
Technical information: (202) 691-5606 Productivity@bls.gov www.bls.gov/lpc
Media contact: (202) 691-5902 PressOffice@bls.gov
PRODUCTIVITY AND COSTS
Second Quarter 2017, Revised
Nonfarm business sector labor productivity increased 1.5 percent during the second quarter of 2017, the U.S. Bureau of Labor Statistics reported today, as output increased 4.0 percent and hours worked increased 2.5 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the second quarter of 2016 to the second quarter of 2017, productivity increased 1.3 percent, reflecting a 2.8-percent increase in output and a 1.5-percent increase in hours worked. (See tables A1 and 2.)
Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked by all persons, including employees, proprietors, and unpaid family workers.
Unit labor costs in the nonfarm business sector increased 0.2 percent in the second quarter of 2017, reflecting a 1.8-percent increase in hourly compensation and a 1.5-percent increase in productivity. Unit labor costs decreased 0.2 percent over the last four quarters. (See tables A1 and 2.)
BLS calculates unit labor costs as the ratio of hourly compensation to labor productivity. Increases in hourly compensation tend to increase unit labor costs, and increases in output per hour tend to reduce them.
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[center]Facilities for Sensory Impaired[/center]
Information from this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.
