Posted December 6, 2017

Productivity rises by 3 percent

Productivity increased by 3 percent during the third quarter, the U.S. Bureau of Labor Statistics reported today.

Output increased 4.1 percent and hours worked increased 1.1 percent. The productivity increase was the largest since the third quarter of 2014, when output per hour increased 4.4 percent.

Manufacturing sector labor productivity fell 4.4 percent in the third quarter of 2017, as output decreased 1.1 percent and hours worked increased 3.5 percent. This was the largest quarterly decline in manufacturing sector productivity since the fourth quarter of 2008 (-5.4 percent).