Manufacturing productivity increased 4.9% in 3Q
Manufacturing sector labor productivity increased 4.9 percent in the third quarter of 2015, the largest gain since a 6.1-percent increase in the third quarter of 2011.
Output increased 2.7 percent and hours worked decreased 2.1 percent. Productivity increased 7.3 percent in the durable goods manufacturing sector, also the largest gain since the third quarter of 2011, when this series increased 8.7 percent. Productivity increased 1.3 percent in the nondurable goods sector.
Over the last four quarters, manufacturing productivity increased 1.5 percent, as output increased 1.8 percent and hours increased 0.4 percent. Unit labor costs in manufacturing increased 0.9 percent in the third quarter of 2015 and increased 0.5 percent from the same quarter a year ago.
Nonfarm business sector labor productivity increased at a 1.6-percent annual rate during the third quarter of 2015, the U.S. Bureau of Labor Statistics reported today, as output increased 1.2 percent and hours worked decreased 0.5 percent.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
