Labor productivity growth, annualizedSeasonally adjustedRevised
U.S. Bureau of Labor Statistics · quarterly · 317 observations
181st highest of 317 quarters since Q2 1947 (tied with 4 other quarters; BLS history begins 1947)
+0.6 pp vs prior quarter−2.8 pp vs a year earlier
Source: U.S. Bureau of Labor Statistics
About this series
What it measures
The percent change in output per hour worked in the nonfarm business sector from the prior quarter, expressed at an annual rate and seasonally adjusted. The Bureau of Labor Statistics publishes it quarterly in Productivity and Costs: a preliminary estimate after each quarter ends and a revised estimate later. BLS calls this its most commonly cited productivity measure.
Why it matters
Output per hour is the basic measure of how much the economy produces for each hour of work, and BLS notes it affects wages and prices.
Common misreads
The annual rate compounds one quarter's change over four quarters, so quarterly readings swing widely. It is revised whenever BEA output data or hours data change. Nonfarm business excludes general government, nonprofits and owner-occupied housing, so it is not the whole economy.