Labor Productivity Declined 4.6% YOY in Q2
Washington, DC, August 9, 2022-Nonfarm business sector labor productivity decreased 4.6% in Q2 2022, the U.S. Bureau of Labor Statistics reported, as output decreased 2.1% and hours worked increased 2.6%.
From the same quarter a year ago, nonfarm business sector labor productivity decreased 2.5%, reflecting a 1.5% increase in output and a 4.1% increase in hours worked. The 2.5% decline in labor productivity from the same quarter a year ago is the largest decline in this series, which begins in the first quarter of 1948.