Labor Productivity Decreased in 2023 Q1 While Labor Costs Remained High
Nonfarm business sector labor productivity—measured as output produced per hour worked—decreased 2.7% in the first quarter of 2023 as output increased by 0.2% and hours worked increased by 3.0%.
Labor Productivity Improved for Two Consecutive Quarters
Nonfarm business sector labor productivity—measured as output produced per hour worked—increased 3% in the last quarter of 2022 as output increased by 3.5% and hours worked increased by 0.5%.