Productivity Decreased 2.5% in Q1
Washington, DC, May 7, 2020-Nonfarm business sector labor productivity decreased 2.5% in the first quarter of 2020, the U.S. Bureau of Labor Statistics reported, as output decreased 6.2% and hours worked decreased 3.8%.
From the first quarter of 2019 to the first quarter of 2020, productivity increased 0.3%, reflecting a 0.1% increase in output and a 0.2% decrease in hours worked.
Unit labor costs in the nonfarm business sector increased 4.8% in the first quarter of 2020, as hourly compensation increased 2.2% and productivity decreased 2.5%. Unit labor costs increased 1.5% over the last four quarters.