Transcription of PRODUCTIVITY AND COSTS
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PRODUCTIVITY AND COSTS
Transmission of material in this release is embargoed until USDL 18-0333 8:30 (EST) Wednesday, March 7, 2018 Technical information: (202) 691-5606 Media contact: (202) 691-5902 PRODUCTIVITY AND COSTS Fourth Quarter and Annual Averages 2017, Revised Nonfarm business sector labor PRODUCTIVITY growth was revised to percent in the fourth quarter of 2017, the Bureau of Labor Statistics reported today, as output increased percent and hours worked increased percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) From the fourth quarter of 2016 to the fourth quarter of 2017, PRODUCTIVITY increased percent, reflecting a increase in output and a increase in hours worked.
Table C1 presents annual average changes for the most recent 5 years for the total manufacturing sector. In the manufacturing sector, productivity increased 0.6 percent in 2018, as output increased 2.6 percent and hours worked increased 2.0 percent. The increases in annual average output and hours were the largest since 2011 and 2012, respectively.
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