Productivity Rose by 10.1% in Q2
Washington, DC, September 3, 2020-Nonfarm business sector labor productivity increased 10.1% in Q2 2020, the U.S. Bureau of Labor Statistics reported, as output decreased 37.1% and hours worked decreased 42.9%.
The 10.1% increase in nonfarm business sector labor productivity in Q2 2020 is the largest quarterly increase since the first quarter of 1971, when output per hour increased 12.3 %. The declines in both output and hours worked in Q2 2020 were the largest in
these series, which begin with data for first-quarter 1947. From Q2 2019 to Q2 2020, productivity increased 2.8%, reflecting an 11.2% decrease in output and a 13.6% decrease in hours worked.