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The Office of Productivity and Technology (OPT) measures how efficiently the U.S. converts inputs into the outputs of goods and services. Measures of labor productivity compare the growth in output to the growth in hours worked and measures of total factor productivity (TFP), also known as multifactor productivity (MFP), compare growth in output to the growth in a combination of inputs that include labor, capital, energy, materials, and purchased services.
Labor productivity (output per hour)
+2.3% in 2nd Qtr of 2024
Hourly compensation
+3.3% in 2nd Qtr of 2024
Unit labor costs
+0.9% in 2nd Qtr of 2024
Labor productivity (output per hour)
+1.8% in 2nd Qtr of 2024
Hourly compensation
+5.1% in 2nd Qtr of 2024
Unit labor costs
+3.2% in 2nd Qtr of 2024
08/01/2024
Productivity increased 2.3 percent in the nonfarm business sector in the second quarter of 2024;
unit labor costs increased 0.9 percent (seasonally adjusted annual rates). In manufacturing,
productivity increased 1.8 percent and unit labor costs increased 3.2 percent.
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05/30/2024
Wholesale trade productivity fell 1.6 percent with hours worked growing at a higher rate than output. Retail trade productivity increased 1.6 percent in 2023, rebounding from the decline in 2022. Unit labor costs rose 6.4 percent in wholesale trade and 0.5 percent in retail trade.
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06/27/2024
Labor productivity rose in 15 of 30 selected service-providing industries in 2023. Output increased in 16 industries while hours worked rose in 14 industries.
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05/30/2024
Labor productivity increased in 36 states in 2023. Output increased in 47 states and the District of Columbia and hours worked increased in 42 states and the District.
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04/25/2024
Labor productivity decreased in 60 of the 86 NAICS 4-digit manufacturing industries and in 3 of the 5 mining industries in 2023. Output fell in 74 of the 91 manufacturing and mining industries while hours worked fell in 45 industries. Thirty-eight industries decreased both output and hours worked.
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03/21/2024
Total factor productivity increased 0.7 percent in the private
nonfarm business sector in 2023 as output increased 2.6 percent and
combined inputs increased 1.9 percent.
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11/21/2023
In 2022, total factor productivity increased in 9 out of 21 major industries, led by service providing industries.
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08/31/2023
Total factor productivity rose in 78 of 86 4-digit NAICS manufacturing industries in 2021, up from 25 industries in 2020. Among the two measured transportation industries, total factor productivity increased in both air transportation and line-haul railroads.
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