Labor Productivity Rose 5.2% in Q3
Washington, DC, December 6, 2023-Nonfarm business sector labor productivity increased 5.2% in Q3 2023, the U.S. Bureau of Labor Statistics reported, as output increased 6.1% and hours worked increased 0.9%.
The increase in labor productivity is the highest rate since the third quarter of 2020, when productivity increased 5.7%. From the same quarter a year ago, nonfarm business sector labor productivity increased 2.4%.